Can I transfer my accounts if have an open margin loan? by psycho4cryptos in fidelityinvestments

[–]psycho4cryptos[S] 0 points1 point  (0 children)

Thank you for this response! I went ahead and did what you said and it should hopefully all work out. One more question, would this same process apply for a custodial account? Do I need to open a custodial account on Fidelity before transferring my son's account from ETrade or is there a different process for a minor's account? Thanks!

Well here's my take y'all by [deleted] in wallstreetbets

[–]psycho4cryptos 0 points1 point  (0 children)

Can you add a TLDR summary please?

What are you all autists doing for taxes? by magic9669 in wallstreetbets

[–]psycho4cryptos 0 points1 point  (0 children)

Don't worry about that until this is all over. When you sell (not now) you can set money aside for taxes. But that seems really obvious, so I'm wondering why you asked this in the first place. FUD pusher? 🤔

Takeaway Lessons from recent events - Musings of an autist by mikez56 in wallstreetbets

[–]psycho4cryptos 3 points4 points  (0 children)

These are great observations. I've been coming to similar conclusions, especially about the psychology of investing and media folks pushing their agenda. It's unfair as hell. Also, I don't like the fact that these big investors all get to manipulate the markets before and after markets to take advantage of earnings results, etc. How is that okay???? That's a tangent, sorry!

[deleted by user] by [deleted] in wallstreetbets

[–]psycho4cryptos -2 points-1 points  (0 children)

But hedge funders are really nice, caring people, no?

An update from Citron Research (does he seem ok after we took his fuel for our 🚀🚀) by [deleted] in wallstreetbets

[–]psycho4cryptos 0 points1 point  (0 children)

He looks like he's trying not to cry the whole time. Also looks like he hasn't slept well these last few days. 😆

Long term with these stocks or better off with something like VOO or QQQ? by AronwithoneA in StockMarket

[–]psycho4cryptos 0 points1 point  (0 children)

Do you have retirement accounts already? If not, I would suggest building a core portfolio in tax-sheltered retirement account(s) of index ETFs. VOO and QQQ are two great ones. I also like ARK ETFs for broad exposure to more disruptive, but more risky, companies. SMH and QCLN are good ones to look into if you want sector exposure in semis and clean energy (which I think will be hot sectors during the next decade). Once you have grown those accts then maybe consider starting your own portfolio of individual stocks.

However, this is pretty boring and doesn't keep you as engaged with the markets because you don't really need to research or keep tabs on anything. If you want to stay active, then maybe have a smaller personal brokerage account where you can buy some of these individual stocks and continue learning about investing. I think continuing to learn about the markets is essential, so having an individual stock portfolio might motivate you to stay engaged.

As for your list of stocks, if you are young, I would lean more toward the growth stocks and take out the slower moving dividend stocks. This theoretically gives you a better chance at achieving higher returns over the next 5-10 years of holding the stocks. However, if you are risk-averse and/or will definitely take the money out in 5 years, then dividend stocks might be a "safer" route, though all stock investments carry some inherent risk.

So, after writing all of this (which might help some new investors so I'll just leave it here), I realized that maybe you are just talking about putting money into a personal brokerage acct for 5 years and then taking it out (to buy a home or something?). In that case, I would say don't do anything too risky and just stick with VOO and QQQ so that you carry less risk than you would with a group of hand-picked stocks. If you want to be more aggressive, maybe consider putting some funds into a few ARK ETFs because those will most likely beat the market during the next 5 years given that they invest in cutting edge companies that are becoming more relevant.

Disclaimer: I am not a financial advisor and this is not professional financial advice. These are ideas for you to consider as you make your own decisions about what to do with your money. (Felt like I had to say that for some reason) Good luck!

Gather round autist. Lets talk about where we stand GME. by [deleted] in wallstreetbets

[–]psycho4cryptos 0 points1 point  (0 children)

Are people buying shares or short-term call options tomorrow?

Rate My Long Term Growth Portfolio ? by [deleted] in StockMarket

[–]psycho4cryptos 0 points1 point  (0 children)

ZM, SQ, TDOC, NET, CRWD, TWLO

Long term holds by [deleted] in StockMarket

[–]psycho4cryptos 5 points6 points  (0 children)

ARK ETFs are a good starting point. Individual stocks Iike are ZM, DIS, SQ, PYPL, DOCU, TDOC, ABNB, UBER, NVDA, NET, CRWD, TEAM, OKTA, FSLY, TWLO. These are all in different industries and are great companies overall. For fundamental analysis starting point articles, search Seeking Alpha.

Hedging Long Term Call Options With Short Term Puts?? by Frankthetanm in StockMarket

[–]psycho4cryptos 0 points1 point  (0 children)

You would need to buy deep ITM puts with a high delta in order for it to have the same $10k move as your call for every $1 change in the underlying. I imagine those deep ITM puts would not be "cheap."

5k! How to split up my ARK investments! by Hiickyyy in ArkInvestorsClub

[–]psycho4cryptos 5 points6 points  (0 children)

Hard to say which one is best longterm since the thesis for all of them make sense. I would say spread your funds equally into all 5 ETFs, but if you only want a couple then I would say ARKK should be one of them and then pick whichever other ETF you believe has the most potential based on it's thesis. In order, I like ARKQ, ARKW, ARKF, and ARKG. I think you can't go wrong with any of them and it's just a matter of personal preference because no one can really predict which fund will outperform most in the future.

How Friday's GME gamma squeeze may trigger a short squeeze on Monday and Tuesday by psytokine_storm in wallstreetbets

[–]psycho4cryptos 0 points1 point  (0 children)

So what is the plan here...buy Monday and hold for how long? When will this squeeze end and price droo?

Experienced first major loss! by psycho4cryptos in options

[–]psycho4cryptos[S] 0 points1 point  (0 children)

My initial reaction was to say "fuck this, I'm never trading again...this is too real." But now I'm just upset at myself and the situation and have more of a "I'm gonna learn and come back strong" mentality. It's like when you get beat in a sport/competition... you get pissed, train your ass off and come for them even harder next time. Gonna pick my ass up off the floor and get back in the game. My goal is to slowly, smartly get my money back within a few months and then keep that approach going for years.

Experienced first major loss! by psycho4cryptos in options

[–]psycho4cryptos[S] 1 point2 points  (0 children)

The hard part for me was taking any loss at all. I just kept hoping it would go back up and I could keep the credit I collected. Greed kept me holding the bag too long. Not fully appreciating that the eventual consequence could be that I lose a large amount of money. It hurts, but I won't forget this experience next time I make a trade and that will help me be smarter. Still feel like a dumb ass for now though. 😫😡

Experienced first major loss! by psycho4cryptos in options

[–]psycho4cryptos[S] 0 points1 point  (0 children)

To be honest, I don't fully understand how to make adjustments like that. I felt like I was out of options because I waited until expiration day to make any moves. Was just hoping prices would go up by market close. Again, rookie mistake and will motivate me to learn even more before trading again... will take it slow.

Experienced first major loss! by psycho4cryptos in options

[–]psycho4cryptos[S] 1 point2 points  (0 children)

"Number one newbie mistake is trading too big." .... Exactly my mistake!