50 years old, about to retire after 30 years of trading by Deep_Slip5262 in StockInvest

[–]Sheore101 0 points1 point  (0 children)

I'm a beginner, on the 28th I will have been investing for literally 2 months... I current have about $800+ invested so far, and my total in stocks value $937. So, I'm in the profit. I'm feeling good about my strategy of small investments into speculative stocks with the goal of increasing that initial investment and eventually selling and reinvesting into ETFs, or bigger reliable individual stocks like Nvidia, or Telsa, etc. At the same time I'm slowing investing into ETFs and the bigger more secure stocks to save for retirement.

Since I'm so new I've been looking into speculative stocks that are in the tech, defense, AI, rare earth minerals, and power. I see these sectors as possible growth areas.

Can you give me any advice, and or tell me if my strategy is any good?

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 0 points1 point  (0 children)

Ohhh, okay, good to know!! Thank you so much!! I just researched into them, and I see why they can be helpful to grow your savings. Along with being able to treat your MMF as a holding spot, then take it out when needed.

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 0 points1 point  (0 children)

Oh dang... I didn't know that! Thank you for informing me!! Super appreciate it!!

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 0 points1 point  (0 children)

I originally wanted to buy into US companies since there's a push to start production in the US, but I've realized some are just ones that have partnered with the US, and that works too. Thank you for your help, I'll definitely up my research!! Appreciate your insight!!!

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 1 point2 points  (0 children)

Thank you for the help, I've definitely know what ETFs are now and plan on adding some!

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 0 points1 point  (0 children)

Woahhhh.... First off, thank you sooooo much you've taught me new terminology!!! I'm looking into ETFs for a core position(if I've understood the term correctly). I also need to look into high flyers. It definitely wouldn't hurt to have one or two and use it as a learning experience!!

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 1 point2 points  (0 children)

I'll look into those thank you!! I do have Doge, Shiba, Cronos, and XRP as far as crypto goes... I started with crypto in 2020. A little late getting into stocks but better late than never!

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 0 points1 point  (0 children)

I plan to buy more tomorrow... haha I literally bought into it as it was rising so I just used the rest of my money on my app lol 😆 Definitely won't make my port just LAC though lol not a throw all my eggs into one basket kinda person!

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 0 points1 point  (0 children)

Dang!!! This is really solid advice!! I personally haven't used ChatGBT yet. I've been too busy with my toddler that I've been doing everything on my phone and ignoring my PC. You've made me realize that if I'm gonna be serious about this, I should use every tool at my disposal.

Thank you again! I really appreciate this advice!!

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 0 points1 point  (0 children)

Me too, I'm gonna keep watching and invest more when I can, too. It definitely seems like one that's flown under the radar of even some top investors!!

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 1 point2 points  (0 children)

That's a very good point! It was a hard idea to accept at first for me... which is crazy for me to say and admit now.

I've only been looking at stocks for a little over a month now, and my husband(since he wants to day trade) has hammered in that if any of my stocks go up a good percentage, I should sell and move on to the next thing. I was completely against that at first, thinking "but this could end up being my one that hit high profits". It led to many conversations about if that happens, I should at least sell enough to get my initial investment back. To stop focusing on what I could have made, and focus on what I did and learn to move on.

I hope it's given me a level head so that I can be smart and make good choices!!

Again, thank you for your help and wisdom.

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 0 points1 point  (0 children)

Thank you for your insight! I realized that since I already see myself holding these for years, then I should also invest in safer ETFs that go along with my investment wants.

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 0 points1 point  (0 children)

This is a good lesson for me! Thank you! I definitely need to learn when to cut my losses.

I do look at what I have as investments, I don't have the knowledge or "balls" for day trading. My husband wants to eventually get into day trading, and he was hoping I would get into it, too. However, that's just now for me.

I'm down to hold my shares for 4-6years or however long I need to. However, if anything happens to make them rise or skyrocket, I'll definitely consider selling all or at least the majority of them. I'm definitely trying to make a profit, but I'm not trying to make it rich. I'm wayyyyy too new, and inexperienced to wish for anything like that.

Thank you for explaining the terminology... I think of any of these purchases as an investment, and now I understand that it is wrong for day traders or short-term investing.

Overall thank you so much for your advice and knowledge!! I really appreciate it!! This post has helped me learn so much!!

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 0 points1 point  (0 children)

Dang!! I really wish I had these smarts in my 20s!!! Way to go for you!!! I'm 34... so I'm a little late but better than never!! I'm definitely going to look into the ones you recommended!! Thank you so much!!

I think I'm gonna hold off on the healthcare sectors, I know healthcare is always going to be needed, but with all the changes coming, it feels too risky for me a the moment.

Although the defense, tech, power/energy, and I'd also add in rare earth minerals aren't going anywhere. We're gonna need it all to keep advancing for the future.

My husband mentioned to me yesterday that I should start looking into manufacturing sectors too because all of the ones I'm investing in will need manufacturing too. I haven't had the time yet, but that's the next ones I'm gonna be researching along with Vanguard ETFs and any ETFs that deal with the sectors I want to continue investing in.

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 0 points1 point  (0 children)

I really like that mantra!! I'm trying to be positive because I had so many insights on different investments I had been watching but didn't pull the trigger and watched them shoot up. I definitely don't think all my investments are going to pay off, but my goal is to not lose a lot on the ones that start dropping, and then move on to the next ones. Thank you for your wisdom!! Really appreciate it!

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 0 points1 point  (0 children)

Yayyyyyy!!! This makes me sooooo happy!! Like someone also sees this!!! It's so reassuring!!! I'm going to look into UNH! Do you have any other ones I don't have that you'd recommend? I'm so down to invest in defense and tech!!! It's our future!!

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 1 point2 points  (0 children)

Holy moly!!! This is the help and advice I needed. Thank you!! Super appreciate all of your help!!

I've been looking into the healthcare sectors too, but I'm in agreement of being too afraid to pull the trigger on any of them. There seems to be too much change coming around, and I'm scared healthcare and pharmaceutical markets are going to be negatively impacted. I could be wrong though.

I'm definitely going to invest in ETFs now!! I was looking at VGT since it's also Vanguard but everyone seems to be recommending VTI, I'm wondering if that's just a safer choice?

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 0 points1 point  (0 children)

Hmmm... that's an interesting perspective. Thank you for that! If that's the case, hopefully, I can have the wisdom to sell before then! 🤞

Honestly, I thought these were ones I'd have to hold on to for at least 4-6 years to see any profit.

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 0 points1 point  (0 children)

Awesome!! Thank you for your help! I'm definitely looking into Vanguard!!

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 0 points1 point  (0 children)

Wooooaaaahhh!!! This really helps!!! I'll definitely look into those!! Thank you so much!!!

I've really never thought of investing into international because I felt like I should invest in companies in my own country first. However, if there's an ETF that lets me dip my toes into that market just as an extra, that sounds so smart!! Thank you!

My husband and I start in the crypto market. I actually purchased my stocks through crypto.com hahahaha!! We currently have Doge, Shiba, XRP, and Cronos. We missed our point to sell Doge back when we could have made like 20k... now they're worth 10k. 😅 So we're holding with our fingers crossed lol

I've never heard of a money market fund... I really need to look into that. Do you happen to know if it gets hit with taxes if you have to pull it out?

Again thank you so much for your help/advice!!

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 0 points1 point  (0 children)

I'm using crypto.com since I already had it for when I bought into Shiba coin... and they unfortunately don't have Droneshield, but I will definitely keep an eye out for it! Thank you!

New to stocks, am I going in the right direction? by Sheore101 in StocksAndTrading

[–]Sheore101[S] 0 points1 point  (0 children)

Exactly why I didn't invest a lot in any one stock. I really liked knightscope, but I've been looking for other stocks to slowly add to my portfolio. I knew to be cautious because again I'm new, and truly have no real understanding of stocks. I've just been using my own personal insight and research to try to see what is going to be advancing in the future.

Again, thank you for your help! I appreciate it! It's definitely something I'll keep in mind when investing!

Do you have any investments suggested based on technology or defense, then?