I usually never give investment advice but....

donwuan

The Legend
BGOL Investor
Go to your bank and make a bullshit bank account called Don Juan trading, download ur Bank app, and lock down the account, unlock it only when u want to use it..brah
Yea that’s pretty much the easiest way to go about it...

I’m have to do something like this

If you scroll down and type other in the search box you can manually enter your account and routing number. You have to wait for two small deposits to verify your account. Takes longer but fuck giving them my username and password.
 

Tito_Jackson

Truth Teller
Registered
What's your opinion on the Acorn app?
I like Acorn because it helps you save without you even noticing it. However, it is not a good "trading" app because your money is invested into ETFs, which are exchange-traded funds. Think of them as mutual funds. You have no control over specific stocks. Again, it is great for saving money without think about it and the return is higher than savings accounts.
 

Tito_Jackson

Truth Teller
Registered
I would only recommend Robin Hood if your swing trading. If your looking to day trade I would recommend E*trade or TD Ameritrade.

Robin Hood is free but they have terrible executions plus damn near all brokers offer free commissions anyways. Robin Hood was good for 2016-2018.
Remember that my original talk was with Millenials who had zero trading experience. Robin and M1 are first movers in the sense that they offered zero-fee trading before anyone else. Also, they both are simple and still have a "app" feel to them. Additionally, my advice is not for people who want to make trading their new job or side hustle. It is a long term strategy that makes having 100K, 250K, or even 1M very attainable.

For those interested in day trading, this post is not intended for you. There are infinite ways to trade. This post only explores one route that is proven, does not require much trading knowledge, very hands-off, and intended to motivate people to take the first step and get the ball rolling.

It is important that all my new investors understand that your share in whatever stock, AAPL for example, is worth the same in whatever app you use. So, do not get too caught up in that aspect of it.

Here is a list of free trading apps/ platforms. Many will give you free money if your initial deposit is a certain amount.

 

Tito_Jackson

Truth Teller
Registered
Here is a challenge for all of you.

You can get started with $10!!!!! Just try it, please!!!! Buy $10 using M1 or some other app that allows partial shares and leave it alone for one month. Report back and share how you did. I will open a new account as well so we can compare. Pick any of the stocks I listed previously.
  • AAPL
  • MSFT
  • AMD
  • NFLX
  • TSLA
  • VOO
  • GOOG
  • GOOGL
  • DIS
Post updates here. We will dive in on March 1st.
 

Tito_Jackson

Truth Teller
Registered
FYI, M1 is the only one you can do a partial trade of $5, $10 etc.

Also, I will join the challenge. I am opening a TD Ameritrade account and buying o e share of AMD at approx $50. I have over 100 shares in my Robinhood account, but to keep it relatable, I am going to start fresh like everyone else.

Lets get it!!!
 

Camille

Kitchen Wench #TeamQuaid
Staff member
I try to refrain from offering investment advice. However, I was giving a talk this past weekend and shared some investment advice to some brothers and sisters who have zero investment experience.

This is what we did.

  1. First, I made everyone sign up for Robinhood and M1 using their Android or Apple phones.
  2. Explained why having one of these accounts is much smarter than having a savings account. Traditional Savings accounts are actually foolish.
  3. We looked at 20 year $50, $100, and $250 per week investment options.
  4. Drilled in that this is a long game.
  5. Explained Roth IRA and why everyone should have one of these accounts.
  6. Explained that following the S&P 500 is the safest investment regarding stocks.
  7. Shared my main portfolio.

  • AAPL
  • MSFT
  • AMD
  • NFLX
  • TSLA
  • VOO
  • GOOG
  • GOOGL
  • DIS
These are my buy and hold picks. I wait for dips, then I buy.

The more expensive stocks, are on my M1 account because you can purchase portions. Robinhood has full stock purchases. However, they are rolling out partial purchases this year.

As soon as you finish reading this, sign up, set up auto-deposits you can afford, but that push you.

2020 is the year and decade for economic empowerment of the small percentage of black people smart enough and brave enough to take control of his or her destiny.

I will be available to answer general questions periodically.

Do you have video or audio of your presentation?
 

Camille

Kitchen Wench #TeamQuaid
Staff member
Lol! I knew this question was coming. There is a video. However, there is zero chance I would share it here and give up my anonymity.

Sorry.

If you're comfortable I'd appreciate a Pm or audio version. I'd never betray your trust or ANYONE'S identity, but I understand and respect your concerns.

Barring that, are there any resources you recommend for beginners?
 

Tito_Jackson

Truth Teller
Registered
If you're comfortable I'd appreciate a Pm or audio version. I'd never betray your trust or ANYONE'S identity, but I understand and respect your concerns.

Barring that, are there any resources you recommend for beginners?
I appreciate your understanding.

With that being said, please take $10 and open your M1 account. Choose any of the stocks I listed. We will discuss what is happening with everyone's account as the month progresses. This will be the absolute best way to learn.

At the end of the month period or at anytime (could be 2 days from now), you can sell your shares and get your investment back. None of the stocks are risky. If you were to lose, it wont be more than $2 or $3. And that is a big if.
 

cokely_muhammad

Student of Kogalee_Muhammad
Registered
I try to refrain from offering investment advice. However, I was giving a talk this past weekend and shared some investment advice to some brothers and sisters who have zero investment experience.

This is what we did.

  1. First, I made everyone sign up for Robinhood and M1 using their Android or Apple phones.
  2. Explained why having one of these accounts is much smarter than having a savings account. Traditional Savings accounts are actually foolish.
  3. We looked at 20 year $50, $100, and $250 per week investment options.
  4. Drilled in that this is a long game.
  5. Explained Roth IRA and why everyone should have one of these accounts.
  6. Explained that following the S&P 500 is the safest investment regarding stocks.
  7. Shared my main portfolio.

  • AAPL
  • MSFT
  • AMD
  • NFLX
  • TSLA
  • VOO
  • GOOG
  • GOOGL
  • DIS
These are my buy and hold picks. I wait for dips, then I buy.

The more expensive stocks, are on my M1 account because you can purchase portions. Robinhood has full stock purchases. However, they are rolling out partial purchases this year.

As soon as you finish reading this, sign up, set up auto-deposits you can afford, but that push you.

2020 is the year and decade for economic empowerment of the small percentage of black people smart enough and brave enough to take control of his or her destiny.

I will be available to answer general questions periodically.

Are you going to continue to hold these stocks when the bottom falls out of the market this year? :rolleyes:
 

Tito_Jackson

Truth Teller
Registered
Ahhhhhh, a skeptic. Lol!! Just kidding my brother.

All of the stocks that I have listed are global companies and does not completely rely on the U.S. economy.

Your question leads to a lesson for today.

Stop Loss Order.

Basically, you set a number where tour stock sells automatically when a certain threshold is met. For example:

I bought 1 share of AMD on my new TD Ameritrade account at 51.71. I set a stop loss of $46.35. That is a 10% depreciation.

$51.71 × 90% = $46.54 (how much the stock should sell for)

Or

$51.71 x 10% = $5.17 (how much you potentially lost)

AMD hasnt seen $46.54 since December 31, 2019. So, I'm not really worried about that happening. But, it is always better safe than sorry. Now, $5.17 doesn't seem like much, but when you are dealing with multiple shares (I have over a hundred shares in my Robinhood Account) then stop loss becomes a blessing.

Unfortunately, M1 does not offer this feature.

Full transparency, I do own an M1 account. This is where my shares of Telsa, Amazon, and Netflix are.
 

Madrox

Vaya Con Dio
BGOL Investor
Ahhhhhh, a skeptic. Lol!! Just kidding my brother.

All of the stocks that I have listed are global companies and does not completely rely on the U.S. economy.

Your question leads to a lesson for today.

Stop Loss Order.

Basically, you set a number where tour stock sells automatically when a certain threshold is met. For example:

I bought 1 share of AMD on my new TD Ameritrade account at 51.71. I set a stop loss of $46.35. That is a 10% depreciation.

$51.71 × 90% = $46.54 (how much the stock should sell for)

Or

$51.71 x 10% = $5.17 (how much you potentially lost)

AMD hasnt seen $46.54 since December 31, 2019. So, I'm not really worried about that happening. But, it is always better safe than sorry. Now, $5.17 doesn't seem like much, but when you are dealing with multiple shares (I have over a hundred shares in my Robinhood Account) then stop loss becomes a blessing.

Unfortunately, M1 does not offer this feature.

Full transparency, I do own an M1 account. This is where my shares of Telsa, Amazon, and Netflix are.

Thanks. I'll probably start up an M1 account this weekend when I have some time in front of the laptop.

I'm a big fan of discussion and knowing what my options are, so appreciate the info you've provided.
 

Tito_Jackson

Truth Teller
Registered
Good stuff. My only suggestion would be to consider taking 10 minutes today before 4pm to open fund your account. The markets do not "trade" over the weekend. So, you opening on Saturday is almost the same as opening on Monday.

I recognize the apprehension. I remember when I first started I was scared shitless. But, it is like jumping off of a high diving board, you just have to do it. And then you quickly realize that all of the apprehension you had was imaginary.

Notice, I havent asked for any referrals. I do not personally benefit financially from assisting this board. I just believe in karma and the greater good. This is not a scam. There are no ulterior motives. Just a brother who has greatly benefited financially because I have been fortunate to have had some wise people endow valuable knowledge upon me and I am just paying it forward.

Nothing more nothing less.
 

HellBoy

Black Cam Girls -> BlackCamZ.Com
Platinum Member
Here is a challenge for all of you.

You can get started with $10!!!!! Just try it, please!!!! Buy $10 using M1 or some other app that allows partial shares and leave it alone for one month. Report back and share how you did. I will open a new account as well so we can compare. Pick any of the stocks I listed previously.
  • AAPL
  • MSFT
  • AMD
  • NFLX
  • TSLA
  • VOO
  • GOOG
  • GOOGL
  • DIS
Post updates here. We will dive in on March 1st.
I signed up with M1. I'll have to wait until next week when my funds are available... but I'm all for the challenge.

Thanks.
 

Tito_Jackson

Truth Teller
Registered
Naw fam, if you are just starting out it is best you buy index funds and not individual stocks.
I absolutely respect your opinion. I would argue that there is no "best" way to get started. I am first trying to encourage us to just start....something, anything, just start. My method encourages individuals to monitor how the market works regarding profits, losses, and safe guards. Index funds are a great long term strategy. But, I have found that many who do index funds have no idea what stocks are in the index fund. Similar to 401k, I encourage people to take advantage of 401k especially if their employer offers matching. It's a no brainer. (Anyone reading this who needs/ wants more info why, reply below). But, with most 401k, you have no control, and most people gave no idea what is in the portfolio. Some of it is junk.

But again, I agree that index funds are great and safe. Just in my experience, people will come out of this little exercise with way more understanding and confidence regarding trading and investing. I have found that it is fear and lack of understanding that keep most black folk from investing.

My method attempts to alleviate the two aforementioned hindrances.
 

Madrox

Vaya Con Dio
BGOL Investor
Kind of a tangent, but what is yalls opinion on opening an IRA (whichever kind) if you already have a 401k through your job? Overkill? Or are there some other benefits besides to obvious? Or would I be just hedging my bets so to speak?
 

mailboxpimp

Rising Star
BGOL Patreon Investor
I try to refrain from offering investment advice. However, I was giving a talk this past weekend and shared some investment advice to some brothers and sisters who have zero investment experience.

This is what we did.

  1. First, I made everyone sign up for Robinhood and M1 using their Android or Apple phones.
  2. Explained why having one of these accounts is much smarter than having a savings account. Traditional Savings accounts are actually foolish.
  3. We looked at 20 year $50, $100, and $250 per week investment options.
  4. Drilled in that this is a long game.
  5. Explained Roth IRA and why everyone should have one of these accounts.
  6. Explained that following the S&P 500 is the safest investment regarding stocks.
  7. Shared my main portfolio.

  • AAPL
  • MSFT
  • AMD
  • NFLX
  • TSLA
  • VOO
  • GOOG
  • GOOGL
  • DIS
These are my buy and hold picks. I wait for dips, then I buy.

The more expensive stocks, are on my M1 account because you can purchase portions. Robinhood has full stock purchases. However, they are rolling out partial purchases this year.

As soon as you finish reading this, sign up, set up auto-deposits you can afford, but that push you.

2020 is the year and decade for economic empowerment of the small percentage of black people smart enough and brave enough to take control of his or her destiny.

I will be available to answer general questions periodically.
thank you! I'll give it a try.
starting from zero... any suggestions?
 

mailboxpimp

Rising Star
BGOL Patreon Investor
Yup plus I also short morning spikes. Easiest Money you can ever make is Shorting Stocks that go down. Most people don’t know you can make money when stocks fall.

For my tools I use StocksTotrade I like there AI bot that predicts when a stock will go up or down. Cost about $250 per month with level 2 but only recommend it for serious traders. Not beginners.

what is the path to that level?
 

Tito_Jackson

Truth Teller
Registered
Kind of a tangent, but what is yalls opinion on opening an IRA (whichever kind) if you already have a 401k through your job? Overkill? Or are there some other benefits besides to obvious? Or would I be just hedging my bets so to speak?
Multiple streams of income is never overkill.

1. Make sure you are maxing out your 401K employer contributions. It is free money!!!!!!

2. The Roth IRA is probably one of the single best things the government has done for the middle class. It allows you to invest up to $6000.0/yr or $7000.00 if you are over 50 into an account that will be tax-free money for your retirement. In layman's terms, you will be able to pay yourself weekly, monthly, or yearly from your Roth IRA and pay zero tax. This becomes important if you happen to have saved up a lot of money and your portfolio has performed well. Many people do not take into account that having a really great 401K, investments, etc. could potentially put them in a higher tax bracket. Additionally, you can "borrow" from your ROTH IRA contributions with a penalty for things like home downpayment, college, or a business. What I like the most is that your ROTH IRA can be self-directed. As someone mentioned before, you can simply find an Index Fund that follows the S&P 500 and you are likely to see 7 - 8% returns. This is good. However, I pay attention to the news and trends. I went heavy on AAPL and TSLA. AAPL saw a 106.91% increase and Tesla saw a 97.62% increase. Can't lie, this set me up very well for the future. So, for $115.00/ wk for x number of years, you can really put yourself in a great position.
 
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Tito_Jackson

Truth Teller
Registered

@mailboxpimp while this is great information, it would be irresponsible of me not to say that learning to "short" and do it well takes time and is best suited for those who have the time to dedicate to watching the market closely, have the ability (time and available finances) to pull the trigger, and more importantly can afford to take a huge loss. At some point, you will incur a loss. It is just a part of the game. Because unlike "regular" trading, you lose big time if the stock goes up (or down) depending on how you hedge. In addition to having at least $2000.00 in your margin account, you have to be prepared to lose if your prediction does not pan out. This is not to say that one should not learn how to short. In fact, I hope everyone here does get to the level of where they do more advanced trading. However, I am simply trying to get people to put their toes in the water so they can see it is not too cold. Shorting stocks is betting/ gambling at the casino. @forcesteeler you have to make sure you are being transparent about that. I am too risk-averse for that. lol!!!
 

forcesteeler

Rising Star
Registered
@mailboxpimp while this is great information, it would be irresponsible of me not to say that learning to "short" and do it well takes time and is best suited for those who have the time to dedicate to watching the market closely, have the ability (time and available finances) to pull the trigger, and more importantly can afford to take a huge loss. At some point, you will incur a loss. It is just a part of the game. Because unlike "regular" trading, you lose big time if the stock goes up (or down) depending on how you hedge. In addition to having at least $2000.00 in your margin account, you have to be prepared to lose if your prediction does not pan out. This is not to say that one should not learn how to short. In fact, I hope everyone here does get to the level of where they do more advanced trading. However, I am simply trying to get people to put their toes in the water so they can see it is not too cold. Shorting stocks is betting/ gambling at the casino. @forcesteeler you have to make sure you are being transparent about that. I am too risk-averse for that. lol!!!

I usually short penny stocks like BioTech and Pharmaceuticals. If they have news in the morning. I usually wait around 10:00am and then I pull the trigger on shorts. But yes you will need experience and you need to know how to day trade before you try shorting.

It’s not really hard. It’s all about learning the patterns because at the end of the day most of these retail stocks are traded by humans and humans are a creature of habit. Once you know the patterns it’s very easy because you will see the same patterns over and over.

I would not say it’s gambling because in the casino you have no edge the house always wins. But once you know how to short you will win about 75% percent of the time. Just always remember to cut losses quickly. If a trade goes down by 10 or 20 cents I’m out and cut my losses. I never hold a trade that went bad on me that’s how you minimize losses.
 
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