How realistic is learning about stocks (probably day trading) and earning money with it at 17?

[Seth Walsh]

No

Don't wanna lose it tho haha

Using it for sports betting is probably less risky than putting it in this crazy market, given you size each bet adequately. But I don't think betting is a good idea.

Were you expecting Crude Oil to 10x really fast? Or planning on using tons of leverage. What was your strategy for trying to turn 2k in 20k so fast?

 

[ThreadMatters]

Using it for sports betting is probably less risky than putting it in this crazy market, given you size each bet adequately. But I don't think betting is a good idea.

Were you expecting Crude Oil to 10x really fast? Or planning on using tons of leverage. What was your strategy for trying to turn 2k in 20k so fast?

What would be the best strategy to turn 2k in 20k then ?

 

[Deleted member 685]

Using it for sports betting is probably less risky than putting it in this crazy market, given you size each bet adequately. But I don't think betting is a good idea.

Were you expecting Crude Oil to 10x really fast? Or planning on using tons of leverage. What was your strategy for trying to turn 2k in 20k so fast?

Wasn't really planning on turning 2k into 20k really fast that quickly. I only need around 4k for my upcoming treatment

 

[eduardkoopman]

I just need money, there's nothing worse than realizing you have major flaws at a young age like me (17, nosecel) and having such a hard time earning money. I just got done from the supermarket where I was working for 7 hours straight and earned 35 euros.

Soon I'll have around 2.5k euros on my bank account. I wanna invest in stocks with that money

How soon do you need the money?

If it's for long term, likes many years. Then now is nice time to start. Just being simple index, and hold. Long term

If you need money soon.
Stock trading isn't good imo. Better go out there with your money in the real world. And try to make money the old fashioned way.
Like maybe you can buy a 400 dollars scooter, pimp and fix it for 200 dollars extra costs and 10 hours time.
And then sell it for 1200 dollars a couple months later for example. Making 500 profit.
These things are imo, more certain ways and lower risk with still decent upside /potential. Then playing the stock market like a slot machine. Day trading.

 

[Deleted member 685]

How soon do you need the money?

If it's for long term, likes many years. Then now is nice time to start. Just being simple index, and hold. Long term

If you need money soon.
Stock trading isn't good imo. Better go out there with your money in the real world. And try to make money the old fashioned way.
Like maybe you can buy a 400 dollars scooter, pimp and fix it for 200 dollars extra costs and 10 hours time.
And then sell it for 1200 dollars a couple months later for example. Making 500 profit.
These things are imo, more certain ways and lower risk with still decent upside /potential. Then playing the stock market like a slot machine. Day trading.

Hey, aangezien hier vooral engelse mensen zijn zal ik in het Engels reageren.

I've been working at the supermarket for quite a while now. Don't have enough room for a scooter storage and definetly not safe around my neighbourhood.

Yeah I wasn't thinking about day trading, more like between a few weeks or months
@Seth Walsh

 

[eduardkoopman]

Hey, aangezien hier vooral engelse mensen zijn zal ik in het Engels reageren.

I've been working at the supermarket for quite a while now. Don't have enough room for a scooter storage and definetly not safe around my neighbourhood.

Yeah I wasn't thinking about day trading, more like between a few weeks or months

The scooter thing was just an example. You could do the same I assume with other items that need less storage room.

Being a salary person at 16 is such annoying low salary. I recall looking back. Not good. Better enter working freelance service or doing trading/"hustling" things or finding ways to make money online.

At least that is my opinion.

Week or month trading. Imo, is near equally risky as day trading. High chance of losses, or limited returns.
Don't forget! Professional traders, are happy if they average annually like 10%. On your 2500, that would be 250 euro. If you perform just as God as the professionals. Aka, for 250, not worth the much time it takes.
With 2500, there should be safer, and quicker a ways to make 250.

 

[Fear]

Hey, aangezien hier vooral engelse mensen zijn zal ik in het Engels reageren.

I've been working at the supermarket for quite a while now. Don't have enough room for a scooter storage and definetly not safe around my neighbourhood.

Yeah I wasn't thinking about day trading, more like between a few weeks or months
@Seth Walsh
View attachment 314065

If you only have $2,000 to play with but you want to make money quickly, just buy index options.
S&P calls or puts depending on where you think the market is headed.
Buy them at the money or slight out of the money, and with a long enough expiration date.

 

[eduardkoopman]

I recall.
The last time I was hustling. As a student. I bought some concert tickets and events tickets, for the opening sell. That I expected to sell out.
I earned some good money on Dolly Parton and red hot chilli peppers tickets.
I bought tickets for Shakira and Il Divo, that I thought would sell out also. But that did not even sell out. But I could still manage to sell those tickets just a little bit below the price I payed. Overall I made good money on doing that. I probably like put up 500 in tickets buys. And managed to get back like 900. Aka 400 profit, with not that much risk.

Imo, that type of stuff sounds better.
Then playing the stock market, like a slot machine for quick gains return.

In that line of thinking. Above is just a random example, there are 100 of ways like above example to be able to potentially make money (with limited risk).
You get the drift, u guess.

 

[Chad69]

17

Dont,its illegal....Iam 15 and Iam also trying to

 

[Morpheus]

I really don’t think the stock market is as hopelessly risky as you guys make it seem unless you haven’t studied up on how the market works and you haven’t done your DD on what you’re putting your money in. If you’re day trading, yes, you’ll probably lose all your money. Making the right swing trades here and there and investing into good long term options isn’t a gamble. Lots of people do it and making it seem like the only way you can make money is by slaving away for wages or doing little side hustles like buying things and fixing them up to sell them for a higher price is just wrong imo. I’ve made very good money over the last 2 years by just making smart plays.

 

[Vidyacoper]

Told you guys to look at food delivery services! Sold WTRH at $1.83 a share after buying it for .30 a couple days ago!

Made an easy $1100. That’s going straight to the genio fund.

holly shit

 

[TheMewingBBC]

I really don’t think the stock market is as hopelessly risky as you guys make it seem unless you haven’t studied up on how the market works and you haven’t done your DD on what you’re putting your money in. If you’re day trading, yes, you’ll probably lose all your money. Making the right swing trades here and there and investing into good long term options isn’t a gamble. Lots of people do it and making it seem like the only way you can make money is by slaving away for wages or doing little side hustles like buying things and fixing them up to sell them for a higher price is just wrong imo. I’ve made very good money over the last 2 years by just making smart plays.

What makes it risky depends on the margin of capital used and taking knowingly risky plays. But you can avoid majority of the risky plays with thorough fundamental analysis (both quantitative and qualitative) and risk management. Of course there are times you will lose money, every trader does, hell I had losing trades this week, but it consistently making more money than you lose. When you're exercising proper risk margin like using no more than 1-3% of your capital per trade there isn't much worry about the losses, especially when safe profit expectation is 2x+

I do understand the constant heckle about trading and why you shouldn't do it, I've been the receiver of it here and on lookism countless times. Because the truth is 90% of traders don't have that discipline to consistently use capital margin and thoroughly research on what they're doing and not freak out and close a position when it's only down 20% while you still have 60 days till expiration... there are a lot of factors needed to do this and a lot of characteristics that shouldn't be present in a trader, for example impulsiveness.

So I take the constant heckle as trying to humble the wannabe traders. It is possible to make money from trading, I can testify to that. But it's not for everyone as most people would either lose a chunk of their capital or get emotional and quit entirely. There are plenty of ways you can make money, I'm into real estate wholesaling and holding. When this whole corona virus thing fades, I planning to give airbnb a try

 

[Morpheus]

What makes it risky depends on the margin of capital used and taking knowingly risky plays. But you can avoid majority of the risky plays with thorough fundamental analysis (both quantitative and qualitative) and risk management. Of course there are times you will lose money, every trader does, hell I had losing trades this week, but it consistently making more money than you lose. When you're exercising proper risk margin like using no more than 1-3% of your capital per trade there isn't much worry about the losses, especially when safe profit expectation is 2x+

I do understand the constant heckle about day trading and why you should do it, I've been the receiver of it here and on lookism countless times. Because the truth is 90% of traders don't have that discipline to consistently use capital margin and thoroughly research on what they're doing and not freak out and close a position when it's only down 20% while you still have 60 days till expiration... there's a lot of factors needed to this and a lot of characteristics that shouldn't be present in a trader for example impulsiveness.

So I take the heckle as trying to humble the wannabe traders. It is possible to make money from trading, I can testify to that. But it's not for every as most people would either lose a chunk of their capital or get emotional and quiet entirely. There are plenty of ways you can make money, I'm into real estate wholesaling and holding. When this whole corona virus thing fades, I planning to give airbnb a try

Yeah man I agree with basically everything you said. I think it's weird when people try to be a gatekeeper of stock trading and act as if it's something only tip top professionals can do, and even those ones are only making measly gains. At the same time, any person on here with little knowledge walking into it and seeing it as some easy get rich quick scheme is going to get absolutely fucked. I'd advise anyone on here interested to start paper trading first to get a feel for how the market works. And since you're not trading real money, you won't be risking anything.

I'd also encourage anybody with money to put down to consider investing in some blue chip companies while they're down this much. Minimize your risk by diversifying and dollar cost averaging.

 

[Amnesia]

The absolute most important thing when trading is completel emotional detachment fron monetary wins and losses and sticking to your strategy that has been shown to be profitable over years worth of backtesting

 

[PubertyMaxxer]

Told you guys to look at food delivery services! Sold WTRH at $1.83 a share after buying it for .30 a couple days ago!

Made an easy $1100. That’s going straight to the genio fund.

Its at 4$ now

 

[Hector]

lost 2k in 2 days, absolutely over

Thats nothing og a lose actually, average Joe is losing 50K because of corona, and this is average Joe

 

[Deleted member 534]

I need someone to explain to me how those stock market and investment work and stuff

Feel free to PM your fellow looksmaxer need help

 

[Morpheus]

Its at 4$ now

Yup I fucked up. I could’ve sold at 4.20ish. Would’ve made over $2500 lol.

 

[Vidyacoper]

Yup I fucked up. I could’ve sold at 4.20ish. Would’ve made over $2500 lol.

how much did u spend initially

 

[Deleted member 3512]

For a forum called Looksmax, a crucial consideration has been overlooked:
Trading, more particularly daytrading, will kill your looks.
I traded to support myself for a few years in my 20s.
I enjoyed, overall, some success.
I had many wild days where I made $2,000, $5,000, $17,000.
Days where I went out and bought a car with the money I had just made.
But I definitely paid a price: my hair grayed early, my eyes became sunken, and my skin looked like shit.
The stress cannibalized a large chunk of that limited quantity of biological youthfulness we are all allotted.
I spent the the next few years repairing the damage.

day trading? I image the burden of stress. For long term trading, do you have some tips?

 

[Morpheus]

how much did u spend initially

Only $210.

Huge missed opportunity but I’m not that mad making over $1000 in profit either.

 

[Morpheus]

Could see DYNT and RAVE making a huge jump within the coming days. Worth watching.

 

[Dutcher]

Could see DYNT and RAVE making a huge jump within the coming days. Worth watching.

How do you decide? Its on the resturant buisness isnt it dead in the water soon?

 

[Morpheus]

How do you decide? Its on the resturant buisness isnt it dead in the water soon?

They deliver pizza. I’ve been looking for undervalued stocks in food delivery. Nailed it with WTRH. Let’s see what happens with this one. Could take a couple weeks.

 

[Dutcher]

They deliver pizza. I’ve been looking for undervalued stocks in food delivery. Nailed it with WTRH. Let’s see what happens with this one. Could take a couple weeks.

How did you decide the stock was undervalued. Sorry for being annoying

 

[Morpheus]

How did you decide the stock was undervalued. Sorry for being annoying

Basically you gotta look into their financials, what they do, and the conditions around them (for example right now, we’re in dire need of food delivery because all sit in restaurants are closed) and make a decision on whether they’re price will go up. I knew it wouldn’t stay at the same price for long just because of the impact of this virus.

Some oil ETFs could be solid plays too so long as you’re willing to wait.

 

[Deleted member 3702]

Basically you gotta look into their financials, what they do, and the conditions around them (for example right now, we’re in dire need of food delivery because all sit in restaurants are closed) and make a decision on whether they’re price will go up. I knew it wouldn’t stay at the same price for long just because of the impact of this virus.

Some oil ETFs could be solid plays too so long as you’re willing to wait.

wich platform do you use for trade mate ?

 

[Morpheus]

wich platform do you use for trade mate ?

Schwab. No fees.

 

[autistic_tendencies]

It’s glorified gambling bro better chances in Vegas

 

[LordNorwood]

Here's a summary playlist of some good books on stock buying and trading. I highly recommend reading the first five books in the playlist, you can find free pdf books on them through a Google search. They got the audio version on youtube as well

Thanks buddeh

 

[Blackout.xl]

Thanks buddeh

 

[Luke LLL]

lost 2k in 2 days, absolutely over

It’s not a loss until you sell

 

[MadMong]

Not now, we're going into the biggest crisis since world war 2

This. It's a terrible time to learn, and in my opinion, from an investment perspective, the only thing to hold right now is USD in cold hard cash.
DON'T daytrade.
Forex and Stocks aren't a get rich quick scheme and if you treat it as such you'll regret it.
Endless scams in this space too so watch out.

 

[LastGerman]

You cannot make money as a man. It is a myth.

 

[Casadonis]

Are there any good trading platforms for eurocels? No robinhood in EU, fk

 

[Matthias8272]

By far the most important lesson. This rule comes first, no matter how knowledgeable or skillful you become.
@Gudru if you want to invest x amount and you really really believe it will yield profits, if you can't say in your mind ”im ready to loss all of x amount no matter what happens” confidently, don't invest

how much did you get the trgp stocks for?

 

[StressShady]

Crude oil it at it's lowest right now and obviously it won't stay in that range forever, it's fucking oil, niggas go to war over that shit.

Some that used to be 20-50 dollars are now 1-2 dollars, clean opportunity. You can't always be too certain when it comes to the stock market but in a year span from now I don't see how you can not yield at least a 10x profit

Yeah don't day trade. Wait for a nice entry, hold, and when you hit a 100% return exit and repeat. Read up on the company and understand the circumstances that could decrease or increase a company's value

How to invest in oil ? I mean where do i start/ what do i buy ? Do i need a bank account

I barely even know what trading is, but stuff like this keeps me from ever bothering to do my research.

I am in same boat as you

 

[tupadura]

I bought trgp because I like how broad their operations are and they had a stable prices prior to the corona and Saudi Russia situation.
I didn't read on OilU but they were a fucking dollar and call premiums we're pennies so I bought some expiring next year just for the hell of it.
There are like five company I wrote down that are good some of them better than trgp so I will let you know

@TheMewingBBC

can u post the companies broski ?

 

[Deleted member 2095]

Are there any good trading platforms for eurocels? No robinhood in EU, fk

europeans are fucked-

 

[balding17yomanletcel]

Over if you don't buy BTC at 5k

bought at low sold at lower crew

 

[Morpheus]

Bought RCL at $19 a share. Sold at $40. Should’ve bought a lot more shares than I did but I made around $850. Now I’m going to wait for the market to crash back down after this artificially pumped jump. And I’ll rebuy heavily into RCL once it drops down to the low teens. Wait a year and a half and it should be back up to at least ~$70 a share again.

 

[laske.7]

lol

 

[GreenHat500]

For a forum called Looksmax, a crucial consideration has been overlooked:
Trading, more particularly daytrading, will kill your looks.
I traded to support myself for a few years in my 20s.
I enjoyed, overall, some success.
I had many wild days where I made $2,000, $5,000, $17,000.
Days where I went out and bought a car with the money I had just made.
But I definitely paid a price: my hair grayed early, my eyes became sunken, and my skin looked like shit.
The stress cannibalized a large chunk of that limited quantity of biological youthfulness we are all allotted.
I spent the the next few years repairing the damage.

How old are you now if I may ask?
Also, thank you for your contribution to this community. You seem very smart and that's not the case for many in the PSL community lol.

 

[Hero of the Imperium]

First, You've got to have good instincts. You will find out fast. Many people even financial professionals do not

In order to make the right calls, you will need
1. Good judgment
2. Good info
3. Timely action

Now that you have some Corona virus time, learn all the nuts and bolts of the financial markets so that you have a feel of what the possibilities are with your money and can act when necessary

The market is not a guide; it is a servant

 

[Deleted member 6403]

Learn Forex strategies

 

[Wakeup]

Don't do stocks

Step #1 Find a need in the market. This could be business that need advertising online.
Step #2 Take action and cold call business and tell them you can increase their sales or whatever.
Step #3 Get paid and then outsource the work to someone on fiver for 1/3 of what you got paid.

Rinse and repeat baby