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Originally Posted by topherr
what is a good simulator that yall have used?
Originally Posted by topherr
what is a good simulator that yall have used?
Originally Posted by LiLcHiCo4LiFe
Look into options.
Btw, I use Scottrade and TDA.
Originally Posted by LiLcHiCo4LiFe
Look into options.
Btw, I use Scottrade and TDA.
Smart man. Balance sheet affluent, which is and should be anyone's number one financial goal. $100,000 in a brokerage with $20,000 in loans/credit card debt is not doing it big.Originally Posted by Boilermaker X
I came in to see what kind of "wisdom" people would have to share (Cramer? Nike? Gold and silver?) and so far this has not disappointed.
Credentials: Any given day of the week I've got six figures in play. I'm certainly not big time - I'm a pixel in the ocean - but I have been doing this for a while so when I say this, I hope it doesn't seem like typical NikeTalk blind-leading-the-blind.
Problem: While I applaud your desire to set aside money and invest the reality is that where ever you park your $500 wad, the comission in and out is going to be about a 3% nick. That is to say, you will have to gross 3+% just to break even on a single trade. My suggestion? Put the $500 toward any debt you already owe (car loan, mortgage, unsubsidized student loan, etc.).
Explanaiton: Any debt you pay off means you don't pay interest on that portion. If you owe money at 5-10%, you are accruing interest even as you read this. If you put your money toward that debt, that's interest on $500 that you will not owe which is a guaranteed effective savings of 5-10% on your money. On the other hand, you would have to make 8-13% this year to match the savings gained by using your $500 to pay off debt (because you're loosing 3+% in transaction fees).
The stupidest thing that I encounter with some regularity is when people carry credit card balances but think they're doing it because they occasionally drop a couple hundred bucks into a brokerage account. My lifestyle wouldn't blow your mind. My balance sheet would.
Smart man. Balance sheet affluent, which is and should be anyone's number one financial goal. $100,000 in a brokerage with $20,000 in loans/credit card debt is not doing it big.Originally Posted by Boilermaker X
I came in to see what kind of "wisdom" people would have to share (Cramer? Nike? Gold and silver?) and so far this has not disappointed.
Credentials: Any given day of the week I've got six figures in play. I'm certainly not big time - I'm a pixel in the ocean - but I have been doing this for a while so when I say this, I hope it doesn't seem like typical NikeTalk blind-leading-the-blind.
Problem: While I applaud your desire to set aside money and invest the reality is that where ever you park your $500 wad, the comission in and out is going to be about a 3% nick. That is to say, you will have to gross 3+% just to break even on a single trade. My suggestion? Put the $500 toward any debt you already owe (car loan, mortgage, unsubsidized student loan, etc.).
Explanaiton: Any debt you pay off means you don't pay interest on that portion. If you owe money at 5-10%, you are accruing interest even as you read this. If you put your money toward that debt, that's interest on $500 that you will not owe which is a guaranteed effective savings of 5-10% on your money. On the other hand, you would have to make 8-13% this year to match the savings gained by using your $500 to pay off debt (because you're loosing 3+% in transaction fees).
The stupidest thing that I encounter with some regularity is when people carry credit card balances but think they're doing it because they occasionally drop a couple hundred bucks into a brokerage account. My lifestyle wouldn't blow your mind. My balance sheet would.
Originally Posted by Boilermaker X
I came in to see what kind of "wisdom" people would have to share (Cramer? Nike? Gold and silver?) and so far this has not disappointed.
Credentials: Any given day of the week I've got six figures in play. I'm certainly not big time - I'm a pixel in the ocean - but I have been doing this for a while so when I say this, I hope it doesn't seem like typical NikeTalk blind-leading-the-blind.
Problem: While I applaud your desire to set aside money and invest the reality is that where ever you park your $500 wad, the comission in and out is going to be about a 3% nick. That is to say, you will have to gross 3+% just to break even on a single trade. My suggestion? Put the $500 toward any debt you already owe (car loan, mortgage, unsubsidized student loan, etc.).
Explanaiton: Any debt you pay off means you don't pay interest on that portion. If you owe money at 5-10%, you are accruing interest even as you read this. If you put your money toward that debt, that's interest on $500 that you will not owe which is a guaranteed effective savings of 5-10% on your money. On the other hand, you would have to make 8-13% this year to match the savings gained by using your $500 to pay off debt (because you're loosing 3+% in transaction fees).
The stupidest thing that I encounter with some regularity is when people carry credit card balances but think they're doing it because they occasionally drop a couple hundred bucks into a brokerage account. My lifestyle wouldn't blow your mind. My balance sheet would.
Originally Posted by Boilermaker X
I came in to see what kind of "wisdom" people would have to share (Cramer? Nike? Gold and silver?) and so far this has not disappointed.
Credentials: Any given day of the week I've got six figures in play. I'm certainly not big time - I'm a pixel in the ocean - but I have been doing this for a while so when I say this, I hope it doesn't seem like typical NikeTalk blind-leading-the-blind.
Problem: While I applaud your desire to set aside money and invest the reality is that where ever you park your $500 wad, the comission in and out is going to be about a 3% nick. That is to say, you will have to gross 3+% just to break even on a single trade. My suggestion? Put the $500 toward any debt you already owe (car loan, mortgage, unsubsidized student loan, etc.).
Explanaiton: Any debt you pay off means you don't pay interest on that portion. If you owe money at 5-10%, you are accruing interest even as you read this. If you put your money toward that debt, that's interest on $500 that you will not owe which is a guaranteed effective savings of 5-10% on your money. On the other hand, you would have to make 8-13% this year to match the savings gained by using your $500 to pay off debt (because you're loosing 3+% in transaction fees).
The stupidest thing that I encounter with some regularity is when people carry credit card balances but think they're doing it because they occasionally drop a couple hundred bucks into a brokerage account. My lifestyle wouldn't blow your mind. My balance sheet would.