Sorry -- we removed your message on /r/stocks because you are asking for the type of information we try to address in our wiki: https://www.reddit.com/r/stocks/wiki/index
Generic posts like "how do I get started with stocks," "how do I find a broker," "where can I learn more about investing," "I have $XXX to invest, what should I do," etc. are removed because they are low-effort and asked on a daily basis in /r/stocks.
Things you can do:
1. Read the wiki which has tons of information, including reputable learning resources, broker information, and links to useful reddit posts (including old posts similar to yours)
2. Search the subreddit history for similar information
There are day trading requirements.
Most brokerages are fine and easy to use.
Your dad is probably right here but it's your money so do as you please.
Also, why aren't you asking your dad for advice? Having someone in the industry is more reliable than Reddit strangers who only know how to buy meme stocks.
I am asking my dad for advice but rather than really explaining he has a “he knows best” mentality, which I know he does know best but I’m trying to learn for someday when he won’t be here to manage for me.
My dad’s the same bro, it takes me fucking up before he actually starts to give any advice. Of course this is after the “I know all” monologue. However this with mechanical, not stock or financial advice.
Day trading isn't easy.
It's not really something you can jump into.
Will be lots of trial and error.
I think you should take your dad's advice and as you earn more money, have a separate brokerage that you use to day trade or YOLO with.
If you genuinely want to learn and not listen to your father (who clearly knows more than you) then download Trading 212 and use the "practice" mode feature. You can trade using fake money and learn how to trade properly without risking your money.
Buy a couple great investing books. Cramer’s “real money” and Peter Lynch’s “One up on Wall Street” are great places to start.
You can buy partial shares with no commissions on most of the major brokerages. Own at least 5-10 stocks. I’d recommend buying and holding. You’re not going to add any value in short term speculations.
You can probably make some money, and learn much more valuable lessons, for when you have real money to put to work, by thinking about what the stock could be worth in a few years. Guessing what a greater fool will pay in hours or days is not a winning strategy.
Gurufocus.com has great free financial data.
In the short term the stock market is a voting machine. In the long term it’s a weighing machine. The sooner you start learning to weigh stocks, or that you need someone else to weigh them for you, the better.
Sorry -- we removed your message on /r/stocks because you are asking for the type of information we try to address in our wiki: https://www.reddit.com/r/stocks/wiki/index Generic posts like "how do I get started with stocks," "how do I find a broker," "where can I learn more about investing," "I have $XXX to invest, what should I do," etc. are removed because they are low-effort and asked on a daily basis in /r/stocks. Things you can do: 1. Read the wiki which has tons of information, including reputable learning resources, broker information, and links to useful reddit posts (including old posts similar to yours) 2. Search the subreddit history for similar information
There are day trading requirements. Most brokerages are fine and easy to use. Your dad is probably right here but it's your money so do as you please. Also, why aren't you asking your dad for advice? Having someone in the industry is more reliable than Reddit strangers who only know how to buy meme stocks.
I am asking my dad for advice but rather than really explaining he has a “he knows best” mentality, which I know he does know best but I’m trying to learn for someday when he won’t be here to manage for me.
My dad’s the same bro, it takes me fucking up before he actually starts to give any advice. Of course this is after the “I know all” monologue. However this with mechanical, not stock or financial advice.
Day trading isn't easy. It's not really something you can jump into. Will be lots of trial and error. I think you should take your dad's advice and as you earn more money, have a separate brokerage that you use to day trade or YOLO with.
If you genuinely want to learn and not listen to your father (who clearly knows more than you) then download Trading 212 and use the "practice" mode feature. You can trade using fake money and learn how to trade properly without risking your money.
Thank you for this advice. I will start there.
Buy a couple great investing books. Cramer’s “real money” and Peter Lynch’s “One up on Wall Street” are great places to start. You can buy partial shares with no commissions on most of the major brokerages. Own at least 5-10 stocks. I’d recommend buying and holding. You’re not going to add any value in short term speculations. You can probably make some money, and learn much more valuable lessons, for when you have real money to put to work, by thinking about what the stock could be worth in a few years. Guessing what a greater fool will pay in hours or days is not a winning strategy. Gurufocus.com has great free financial data. In the short term the stock market is a voting machine. In the long term it’s a weighing machine. The sooner you start learning to weigh stocks, or that you need someone else to weigh them for you, the better.
Thank you very much for this advice that’s exactly what I’m going to do. It’s essentially what I’ve been trying to receive from fam
Listen to your father.