Stock help

Discussion in 'Community Forum' started by rakatak, Jan 12, 2019.

  1. rakatak

    rakatak 6 pointer

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    Oct 17, 2005
    London,Ky
    My 16 year old son has about 500 bucks and he is wanting to do some stock buying. I told him he probably needed a littl more cash to get started with. Any websites to use that won’t charge a bunch of fees and any stocks you guys would recommend. Anyone use robinhood to stock trade. Thanks
     
  2. kyoutdoorsman

    kyoutdoorsman 10 pointer

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    Seriously, I was told anything to do with hemp or medical marijuana .stocks is the hottest thing to buy. It's not gonna die it will grow forever
     
    Tufrthnails likes this.
  3. Tufrthnails

    Tufrthnails 10 pointer

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    LOL the last place I would be asking for stock tips is a hunting forum, but I'll still give you my .02. Buy stuff you believe in. If I were you I would use this as a learning tool. $500 sounds like it's only a little to get started with, but I'd start with like $200. Think cheap lessons learned. I do use robinhood for some speculative trading that I really just do for fun. I like to compete with my Investment firm. They whipped my butt 2 years ago but last year I actually beat them by 2%. I really like Robinhood for beginner investors that want to learn themself. It is much safer as you can't buy on margin, which can really screw you over quick if you don't know what your doing. I've never had a prob withdrawing from RH. If you decide to use it hit me up I'll send you a link and you can hook me up with the free stock thing. Depending on how young your son is and if he has the discipline to hold stock long. Their are some dividend paying stocks that are near 5 year lows on price and the dividend is still a pretty safe bet.
     
  4. Tufrthnails

    Tufrthnails 10 pointer

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    He right in that. I've got a few that are doing extremely well, but be careful as it is a young industry and is going to have some severe volatility with a lot of the emerging companies getting culled out by the companies up coming with a lot of $ behind them. Look at Canadian companies right now they have had some laws changed recently and it shows in the market.
     
    ojibwa62 likes this.
  5. rakatak

    rakatak 6 pointer

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    Oct 17, 2005
    London,Ky
    Had read a little about the hemp and weed industry being the thing right now.
     
  6. carnivore

    carnivore 12 pointer

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    Lots of people are going to lose their ass and a few will guess right. Their are companies starting up that have no intent on being successful and are simply taking investments.
     
    Last edited: Jan 12, 2019
  7. Tufrthnails

    Tufrthnails 10 pointer

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    I completely agree. I view the Emerging weed market a lot like the Alt-coin market in Cryptocurrency. A handful of people have made a crapton of money, but a 99+% have lost a lot of money in that market. Something to watch in the Weed Market is not the grower companies, but the production and packaging companies that cater to the weed growers. In my opinion those companies may not make you massive gains, but they are going to consistent growers with the ability to weather the storm, especially if they are already established.
     
    drakeshooter likes this.
  8. KY Swamp Beagler

    KY Swamp Beagler 12 pointer

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    the swamps of western KY
    You probably need to ask a mod to move this over to the Stock section of the forum....oh wait a minute.

    Seek professional advice....
     
    ojibwa62 likes this.
  9. Yep, peripheral businesses like nutrients, soil mixes, greenhouses, horticultural supplies, etc will be hot. If I’m not mistaken Bayer/Monsanto and it’s distributor Scott’s-Miracle Gro bought Fox Farms which caters to cannabis producers as well as Gavita Holland, makers of industrial greenhouse lighting. You’ll see more and more legal cannabis as these mega corporations/big pharma figure out how to control the markets.
     
    KY Swamp Beagler likes this.
  10. Wildcat

    Wildcat 12 pointer

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    Ledbetter, Ky.
    I've been trading on E-Trade for 25+ plus years. Trading and investing are two different things. Trading is buying stocks, setting a sell price and once it hits that price selling them. It's only a small profit like $250-300. Sometimes I can buy and sell the stocks the same day but most times it's 2-3 days. Investing is buy and HOLDING stocks long term. I started out by borrowing $5,000 to use and paid it all back 6 months later, that was over 25 years ago. Today I might buy one stock or 6 different stocks the same day. DOW going up or down does not mater as much as people think. NO I do NOT win every time. Think of it like a used car lot, the guy buys and sells cars for a profit.
     
    KY Swamp Beagler likes this.
  11. ojibwa62

    ojibwa62 12 pointer

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    I would not buy stock at the moment , the economy is doing well and that's not the time to buy stocks. If I was going to buy anything now it would be municipal bonds or T- bills especially when there are going to be more rate hikes, and there are expected to be 3 in the next year. A little gold might not be a bad idea. I would even look into crypto currency, maybe not right away but at some point cryptos will be much more utilized. Many options besides stocks
     
    cedar creek likes this.
  12. Iceman35

    Iceman35 12 pointer

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    I wouldn’t buy stock in anything, like hemp/marijuana, that’s regulation is subject to the whims of the federal and state governments. I also wouldn’t invest in gold. It’s rate of return, long term, is terrible when adjusted for inflation. I’m sure short term there is money to be made.

    Better yet, if he’s interested, have him puck several stocks and track their price and his rate of return based on that $500 , without actually buying into anything. That’s a free lesson on whether or not he wants to get into day trading.
     
    ojibwa62 likes this.
  13. Tufrthnails

    Tufrthnails 10 pointer

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    I cannot remember the app but there is one that works just like that. You can set a dollar amount and mock buy stuff in real time and watch what happens. I can tell you if I had done that for one year prior to actually getting in the markets I would have done a whole lot better those first few years while I was taking my lumps learning the hard way.
     
  14. Gforcetrivers

    Gforcetrivers 8 pointer

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  15. cedar creek

    cedar creek 10 pointer

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    Sep 7, 2014
    American century investors is good, I got Roth IRA through them
     

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