Draker Posted August 1, 2012 Report Share Posted August 1, 2012 I know we have a pretty diverse crowd around here.. just wondering if anyone is into stock or options trading? I've dabbled in it a few times and have done pretty good. I was day trading for a while and managed to get enough cash for a partial down payment on a house. Now my approach will be different. Looking for long term investments. Quote Link to comment
MicroMachinery Posted August 1, 2012 Report Share Posted August 1, 2012 Mutual Funds for long term. The market's pretty shitty right now, but there are a few that are doing well. I know of a couple doing about 10%. Quote Link to comment
Draker Posted August 1, 2012 Author Report Share Posted August 1, 2012 Yeah, can't complain about 10% Market is a crap shoot.. but I made my cash in 2009 when it was even worse. I will obviously diversify and put some cash into mutual funds. I'm opting not to put cash into my 401k.. company puts X amount in and that's good enough. I'm going to be setting aside money that would otherwise being going into my 401k for investing. A 401k to me seems like a retirement plan for people that either, A: Believes whatever your told, B: Is too lazy to invest themselves, C: Doesn't understand the ins and outs First off, if a 401k was so great why doesn't anyone in public office have one? ... I want to have my hand in the pot and control my money. I don't want some bank to use my money to invest and make a billions and then kick me down the change. Of course, with all of this there is a good amount of risk involved. Quote Link to comment
Draker Posted August 1, 2012 Author Report Share Posted August 1, 2012 Also I realize everyone's approach to investing is going to be different.. what works for some doesn't work for everyone. Some people are risk takers, some people are not. Quote Link to comment
jrock4224 Posted August 1, 2012 Report Share Posted August 1, 2012 does it count if i watched my 401 k tank before i took a bath and pulled it at a penalty..although while it was i nthere .. i liked the premise but hated how hard it was to make changes and the process of it..... it would be nice if you could control your 401 on a day to day basis cause with a little research u could do better than what they promise u...i found by the time my changes were institutedd it waspast the sweet spot... hionoestly when i look a tthe whole investment thing 401k wise... its really stupid cause basically u give them paramount to do what with your money yet they can control to mazximize there profits but wont allow the owner f he money instant access to try and do the same...i under stnad there risk... but do they even consider my risk in putting my money in there hands...they mess up, they claim bankruptcy and go home and find a new job but i get to find a box to live in.. i think i like me having a vested interest in controling and profiting from my money is a pretty big risk....and allowing on ly them cause there a corporation and thats what they do is kinda a blinders on a bottom fish type statement...ie made to confuse and stall out the truth 401 ks arent great, there a industry ... remember that...ofh and its a relationship built on trust... Quote Link to comment
Draker Posted August 1, 2012 Author Report Share Posted August 1, 2012 jrock, you are correct. There options to actually manually trade with your 401k. Depends on the company and everything though. I believe here were I work you can opt to manually trade using E-trade. I had a 401k from a previous employer and it wasn't enough to roll over to a new 401k so it was either pull it or take a hit on it moving to a IRA. I cashed it out and took a hit on it like you did. It wasn't enough to really sweat the penalties too much.. I did however get bent over at tax time. Taxes were taken out when I cashed it, and then added extra income to my tax return and like I said got bent over. This time around, I am going to leave my sorry excuse for a 401k and let my employer continue to put money in there. I will put my money in another account post tax and I can buy or sell in a matter of seconds.. unlike the 401k. I'm tired of people taking my money and making a killing from it. On the flip side, this time next year I could be saying... damn I wish I would have let the pro's do the work. :rofl: Quote Link to comment
Farmer Posted August 1, 2012 Report Share Posted August 1, 2012 I have a friend that does alot of options trading. He's made money and lost money. Quote Link to comment
Rustina 510 Posted August 1, 2012 Report Share Posted August 1, 2012 This is part of what I do for a living. Pm me if you have any q's or want a second look at anything Quote Link to comment
Draker Posted August 1, 2012 Author Report Share Posted August 1, 2012 I've never traded options.. Not only do I not understand it, but it's probably the most risky form of trading. But were there is risk, there is reward. And there is also complete failure.. lol With that being said, I'd be willing to toss some money into options if I had a mentor to guide me. It wouldn't be a lot of cash though, that's for sure. Quote Link to comment
Rustina 510 Posted August 1, 2012 Report Share Posted August 1, 2012 How much $ are we talking about here? 200$? 2000$ 20,000? Quote Link to comment
Rustina 510 Posted August 1, 2012 Report Share Posted August 1, 2012 After watching over 100 free falls in the last 3 years for options trading I normally try an stay clear of those right now. Try looking into other options at least tell the market settles... If it ever settles. I made a good chunk on Facebook and was smart enough to sell them right after they posted first month highest earnings. After I sold they dropped huge and now they are struggling. Look into markets that are popular and just about to go public. Like Facebook, also, I do alot of companies that I know have a new big product release, like normally buy a few stocks about 4/6 months before the new iPad or I phone comes out. Or the new playstation or Xbox. If you are able to get them before most people know about the products release you can get a good price on the stock, then when it is released and the stock goes up 20% I drop them and look for another new hot market item. It's been pretty successful the past 10 years for me, hope this helps. Ps I made a killing on the Xbox move and the Xbox 360 and the iPad 2 and the ps3 by trading those companies right when the originals became common place the the stock dropped. I knew that deer updated product would be up soon it took over a year for them to come out but when they did the stocks jumped almost 40% and I cashed out with top dollar. Trading is easy if you know what is going to happen with the company's product line ASAP. And I'm a big gaming player so I saw those ones coming. I'm gettin ready to buy back into Sony because the new ps4 will be around the corner within the next 8 months I'm guessing Quote Link to comment
jrock4224 Posted August 1, 2012 Report Share Posted August 1, 2012 cool they now offered a little bit of owner trading but the delay of putting into effect was not worth touching it... something i think they did on purpose to discourage owner involvement...yeah they taxes can kill u on cash out.. small amounts are bearable...mine was almost 5 digit penalty... but i was needing the capital...so i ate it...i escrowed the income tax amount so it wasnt bad ... but my whole year had been a tax nightmare that year so i just ate the penalties and taxes...it ended up csoting me about 1/4 of it.. but like i said i needed the capital at the time.. Quote Link to comment
jrock4224 Posted August 1, 2012 Report Share Posted August 1, 2012 see rustina is smart hes a trend watcher... if u hit those pretty good and early u can live a very comfortable life...and still have money to be very aggressive with... but u gotta get to that point ... when i was ghey at it i never liked to put more then 20% in risk...again i wsant a baller i was trying to get flowing...but as he said right now the markets like watching a tweker...it can be great for days then u see nothing for weeks Quote Link to comment
Draker Posted August 1, 2012 Author Report Share Posted August 1, 2012 This is part of what I do for a living. Pm me if you have any q's or want a second look at anything PM'd I like your strategy! It's a good one for sure. I've spent some time on some stock forums and they generally are doing the same thing.. they also to it with pharmaceuticals watching drugs as they progress though their clinical testings and eventually get released. I watched the facebook IPO... and you seemed to play it perfectly. Sony eh? Quote Link to comment
Draker Posted August 1, 2012 Author Report Share Posted August 1, 2012 cool they now offered a little bit of owner trading but the delay of putting into effect was not worth touching it... something i think they did on purpose to discourage owner involvement...yeah they taxes can kill u on cash out.. small amounts are bearable...mine was almost 5 digit penalty... but i was needing the capital...so i ate it...i escrowed the income tax amount so it wasnt bad ... but my whole year had been a tax nightmare that year so i just ate the penalties and taxes...it ended up csoting me about 1/4 of it.. but like i said i needed the capital at the time.. Sounds like the right move as a business owner.. Still doesn't feel good watching that money slip away, but you've gotta do what you gotta do to stay a float. Quote Link to comment
Rustina 510 Posted August 1, 2012 Report Share Posted August 1, 2012 Yeah Sony jumps big right before a release because everyone wants a peice, and also because every game system they have sold has been massively successfully. I lost money 2 times with nintendo and lost my ass on sega a long time ago so I don't deal those anymore. Pharmy trading is tuff to research and I never liked the idea of drug dealing... But I have some friends that have been extremely good with it. Yes the taxes are a bitch but when you get great returns it's just part of trading business. Start small and follow popular markets and look for the new hot product. Simple, lower risk, possible high returns. Understand that some people made 1.0 million dollars easy with this method. I never have the capital to risk but I normally make around 15-23 k a year on smaller pop trades using sometimes just a few thousand dollars. It's all about timing Quote Link to comment
jrock4224 Posted August 1, 2012 Report Share Posted August 1, 2012 it was part of the move to be a business owner... knowing what i know now and how the economy crashed on me two month's after getting in business and its been very medicre for 4plus years...ahhh hind site ... i hate that shit...plus having a daughter in that time has changed my percspective and jaded me towards things...had i been in that position again i probably would choose one of my alternatives...hind site those alternatives look far more profitable and enjoyable... but we all chose paths and the only reason we choose is because theres more than one options...sometimes u dont pick the best all the time... mine was a partner that dropped out of the purchase and i had to supplement the intial investment alone..... Quote Link to comment
Rustina 510 Posted August 1, 2012 Report Share Posted August 1, 2012 Yeah facebook going phlox is what is goingto cut its throat, it has a chance to recover. But I would wait a little bit longer because it hasn't leveled off yet and is still dropping. Wait for the last bit I cowards to sell at a loss before you even consider buying back Into it. Quote Link to comment
Draker Posted August 1, 2012 Author Report Share Posted August 1, 2012 When I was doing my taxes with TurboTax, it imported the data from my Scottrade transactions... except for the calculations were off. Lets say I invested $2000 and bought and sold it 10 times and at the end of the year I netted 100% profit.. In other words turned $2000 into $4000. TurboTax said I made $22,000 profit. Basically every time I sold, it counted it as profit... After printing my transaction history for the year and manually inputting all of it, it got it correct. Taxes were still a bitch, but not nearly as much as having to pay taxes on $2k rather than $22k. Quote Link to comment
jrock4224 Posted August 1, 2012 Report Share Posted August 1, 2012 I normally make around 15-23 k a year on smaller pop trades using sometimes just a few thousand dollars. It's all about timing that along with lifestyle freedom and autonomy sounds fucking attractive...that's good work there...but your in a tough spot to ... u sound like a non cutthroat trader / investor .....basically the type who have no qualms about losing or others or investors money....which is probably needed in your field but u sound like u have a concious...which to mean means more than any report of gains or proof of return....i want to know u care if i make money not just that i am part of your semi monetary assault on your (read there) own super ego... Quote Link to comment
Rustina 510 Posted August 1, 2012 Report Share Posted August 1, 2012 Yes 401k. Trading with your 401k is very risky. Specially If it is a traditional 401 and not a Roth because of how the taxes are managed after you withdraw the funds instead of the taxes being taken as the money goes in. I've seen people not only lose their entire retirement "on a sure thing" and then owe taxes on the 401k at the end of that same year witch got them into IRS collections... We all know how that normally goes :thumbsdown: 1 Quote Link to comment
jrock4224 Posted August 1, 2012 Report Share Posted August 1, 2012 facebook is the new myspace.....its dead....people cant just leave well enough alone they have keep trying to make the wheel rounder.... Quote Link to comment
Rustina 510 Posted August 1, 2012 Report Share Posted August 1, 2012 Another thin I look at is game production companies ex bioware. Blizzard. Artistic assembly. Try and dial in when their new games come out. Normally November or October, so buy into them in April and wait to take in the dough baby!!! Fucking easy and pretty dam consistent Quote Link to comment
Draker Posted August 1, 2012 Author Report Share Posted August 1, 2012 FB is in a free fall right now. Quote Link to comment
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