Boiler Room: The Official Stock Market Discussion

[Rekkapryde]

Im trying to be like this when I’m older.

Man I fukked off the first 5 years of investing into my 401K when entering the workforce. But I've gone hard ever since I started doing it. The max contribution for tax deductability annually is around 19k or something , so I make sure to max out that every year. Stayed having to pay like 3 to 4 racks to the feds anyway tho even with all of our tithing and gift giving. My dumbass just found out we can put another 12k into an regular IRA for tax deductions all this time. That's my plan now because I'm tired of paying the feds every year.

The fukked up part is we always got a refund from the state.

My new job doesn't let me in to the 401k until I've been here a year so I gotta go hard on IRAs for the next year until I'm 401k eligible.

 

[Doomsday]

I only have two longs: OGIG, VTI

No idea why people spread themselves so thin.

 

[dora_da_destroyer]

i'm long in all my etf's, but i have etf's across different sectors as well as two index etfs - QQQ and VOO. my goal is to have an all etf portfolio at some point comprised of 7-12 etf's

 

[bnew]

I only have two longs: OGIG, VTI

No idea why people spread themselves so thin.

we desperate for a 10 bagger.

 

[Reign X]

I didn’t really wanna say how much of my portfolio Tesla had become but good to see I’m not alone. Got some square like everyone else. And then two small caps with big potential that are doing well for me right now. They should cover Tesla loss at least, if it somehow fails or stays flat long term.

- Low number of stocks helped me miss out on pacb and lca but I’ve done well with what I got. Arkg is on my radar but only got about 900 I want to spend soon so probably look for a smaller cap. Continuing to build my cash position, bit of correction coming.

 

[princeofhaiti]

how much did you have and what did you buy it for?

i had 10 shares and the avg was 215, it was a pretty volatile stock. It would get as low as 210 and shoot right back up to 280

 

[Doomsday]

IMO, too many blue chips and your stock is essentially a checking account that sits sideways 99% of the time. A bunch of ETF's is stupid because one bad ETF could ruin the whole pot. One ETF that's minus 5% for the year can kill the other 9 that's up 0.50%.

You're better off just putting ALL of your money in SPY and just waiting.

OGIG is early enough where it can still 2x in a year 1, possibly 4x in 2 years. Those are the optimal longs people should be shooting for.

A person should have only two accounts. One for trading, and one for investing. That's it. Both accounts shouldn't have more than 4 symbols at a time. Obviously your long account should be green most of the time (if not you need to switch it up), and your day/swing account is what it is.

What's more likely? You'll be green on 3-4 symbols or 20? Think about it.

 

[Kyle C. Barker]

Who's that one YouTuber that people post in here? Chicken little or something like that? That dude only has two stocks and that is square and Tesla. It seemed like it worked out for him because he's a millionaire so there is some validity in that argument.

 

[princeofhaiti]

IMO, too many blue chips and your stock is essentially a checking account that sits sideways 99% of the time. A bunch of ETF's is stupid because one bad ETF could ruin the whole pot. One ETF that's minus 5% for the year can kill the other 9 that's up 0.50%.

You're better off just putting ALL of your money in SPY and just waiting.

OGIG is early enough where it can still 2x in a year 1, possibly 4x in 2 years. Those are the optimal longs people should be shooting for.

A person should have only two accounts. One for trading, and one for investing. That's it. Both accounts shouldn't have more than 4 symbols at a time. Obviously your long account should be green most of the time (if not you need to switch it up), and your day/swing account is what it is.

What's more likely? You'll be green on 3-4 symbols or 20? Think about it.

literally just found out my new employer offers 401k investment in the S&P 500 (returns of 13%+ in 10 years) and they giving 6% match. I changed my split to 75% Vanguard S&P & 25% Target date Fund 2055. Now just gonna let the $$ pour in

 

[dora_da_destroyer]

i got damn near 40 holdings and only 7 are red, 6 of which are flips to 18 month holds , except one long etf i just bought that's down from market highs last week

there's no such thing as a universal "you shouldn't" or an account "should be" statement. you shouldn't invest in or trade shyt you don't understand, and you should determine your investing strategy, those are the only rules

edit: a lot of people need more than two accounts as well. i have a rollover IRA for old 401k's, an active IRA i contribute to each year, a 401K from a current job, and two brokerage accounts, one for long term individual stocks and one for fukking around with swings/active trading

 

[dora_da_destroyer]

Who's that one YouTuber that people post in here? Chicken little or something like that? That dude only has two stocks and that is square and Tesla. It seemed like it worked out for him because he's a millionaire so there is some validity in that argument.

right, except no one posts the stories of people who do that with stocks that fall...cmon now, for every person placing all their money into 4 stocks and winning, there's two more who did the same and took an L, but they don't make youtube channels or gain 1M followers on twitter

 

[princeofhaiti]

welcome to 401k rollover gang ...people sitting their money in old 401k's missing out on higher growth

i have bread sitting with my old employer in ADP, its a traditional 401k. im not sure if i should roll it over into my new traditional 401k or roll it over into an IRA.

Any thoughts? i believe ADP said they will liquidate the funds from the old and add the liquidated cash to my new account

 

[dora_da_destroyer]

i have bread sitting with my old employer in ADP, its a traditional 401k. im not sure if i should roll it over into my new traditional 401k or roll it over into an IRA.

Any thoughts? i believe ADP said they will liquidate the funds from the old and add the liquidated cash to my new account

depends, will you be back dooring a regular IRA to a Roth IRA - then you might want to put the old 401k into your current...might

if you're not someone who has to worry about doing a back door Roth, then definitely move it to a rollover IRA, way more investment options, fewer fees, and potential for more growth than most funds offered in a 401k

 

[ahomeplateslugger]

Who's that one YouTuber that people post in here? Chicken little or something like that? That dude only has two stocks and that is square and Tesla. It seemed like it worked out for him because he's a millionaire so there is some validity in that argument.

it can pay off for sure. just gotta make sure the company you buy is a for sure lock. i would need very strong conviction for that.

 

[Doomsday]

AGAIN! What's more likely to happen? 4 stocks will appreciate over time and give you solid gains or 40?

33 symbols out of 40 being green means nothing. You're spread so thin that the gains mean little, and every little red you see can destroy the entire port.

A lot of newbie traders are spoiled by stocks like TSLA and the quarantine. That reality check that will eventually come is going to be vicious.

Once the stock market returns back to post-quarantine era and the utopia ends, they will be seeing red everyday having that many symbols in their port.