So what's M1?
Never heard of M1 will look into it.
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
solid picks and solid strategy. It's very difficult to get black folks to invest in equities. It's literally free money.
Absolutely. It is just another platform. They also now offer free trades and no fees.How about td Ameritrade?
Is that a great way to go?
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.What's your opinion on the Acorn app?
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.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.
LMFAO
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.
- First, I made everyone sign up for Robinhood and M1 using their Android or Apple phones.
- Explained why having one of these accounts is much smarter than having a savings account. Traditional Savings accounts are actually foolish.
- We looked at 20 year $50, $100, and $250 per week investment options.
- Drilled in that this is a long game.
- Explained Roth IRA and why everyone should have one of these accounts.
- Explained that following the S&P 500 is the safest investment regarding stocks.
- Shared my main portfolio.
These are my buy and hold picks. I wait for dips, then I buy.
- AAPL
- MSFT
- AMD
- NFLX
- TSLA
- VOO
- GOOG
- GOOGL
- DIS
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.
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.Do you have video or audio of your presentation?
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.
I appreciate your understanding.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 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.
- First, I made everyone sign up for Robinhood and M1 using their Android or Apple phones.
- Explained why having one of these accounts is much smarter than having a savings account. Traditional Savings accounts are actually foolish.
- We looked at 20 year $50, $100, and $250 per week investment options.
- Drilled in that this is a long game.
- Explained Roth IRA and why everyone should have one of these accounts.
- Explained that following the S&P 500 is the safest investment regarding stocks.
- Shared my main portfolio.
These are my buy and hold picks. I wait for dips, then I buy.
- AAPL
- MSFT
- AMD
- NFLX
- TSLA
- VOO
- GOOG
- GOOGL
- DIS
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.
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.
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.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.
Post updates here. We will dive in on March 1st.
- AAPL
- MSFT
- AMD
- NFLX
- TSLA
- VOO
- GOOG
- GOOGL
- DIS
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.Naw fam, if you are just starting out it is best you buy index funds and not individual stocks.
thank you! I'll give it a try.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.
- First, I made everyone sign up for Robinhood and M1 using their Android or Apple phones.
- Explained why having one of these accounts is much smarter than having a savings account. Traditional Savings accounts are actually foolish.
- We looked at 20 year $50, $100, and $250 per week investment options.
- Drilled in that this is a long game.
- Explained Roth IRA and why everyone should have one of these accounts.
- Explained that following the S&P 500 is the safest investment regarding stocks.
- Shared my main portfolio.
These are my buy and hold picks. I wait for dips, then I buy.
- AAPL
- MSFT
- AMD
- NFLX
- TSLA
- VOO
- GOOG
- GOOGL
- DIS
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.
what is the path to that level?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.
StocksToTrade.com: Homepage
Thousands of Beginner and Advanced Traders. Abandon Their Old Trading Tools. For StocksToTrade... forget all the old websites, software, and apps you used.stockstotrade.com
Multiple streams of income is never overkill.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 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!!!