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XxThelionxX

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I’ve found the clue to use e-trade app...then I’m guessing I would have to pick which brokerage firm. Am I on the right track or missing the mark indefinitely


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MJ DeMarco

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Send money to a brokerage firm, eTrade, Ameritrade, Schwab, and boom, you're in business.
 

Real Deal Denver

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Send money to a brokerage firm, eTrade, Ameritrade, Schwab, and boom, you're in business.
I'm surprised to hear this from you MJ.

Why would I want to invest in a company that I don't know, can't influence in any way, and hope and pray they don't merge, declare bankruptcy, or have their competitor invent time travel?

Does that fit into the CENTS methodology?

Don't go soft on us! How about bank CDs? Safe, oh so safe, and sound. Right?
 

Mike Partee

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Why would I want to invest in a company that I don't know, can't influence in any way, and hope and pray they don't merge, declare bankruptcy, or have their competitor invent time travel?
You're misinterpreting the response.

1: MJ trades options. There's an entire thread on the INSIDE about it.
2: You can't do #1 without a brokerage account

Nothing to do with slowlane mentality.
 

steelandchrome

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I'm surprised to hear this from you MJ.

Why would I want to invest in a company that I don't know, can't influence in any way, and hope and pray they don't merge, declare bankruptcy, or have their competitor invent time travel?

Does that fit into the CENTS methodology?

Don't go soft on us! How about bank CDs? Safe, oh so safe, and sound. Right?
Never gonna get rich trading stocks but if you aren't putting your money to use with a business at the minute then why not put it to work in the meanwhile with stocks or options? I made an easy mid 5 figure return on my stock accounts last year that would have sat useless in a bank otherwise. Made about the same on a much smaller investment with crypto but thats a different story ;)
Anyways, I use Scottrade who just merged with TD Ameritrade so we'll see how that pans out. I just opened an account with Robinhood as well for crypto trading possibility and got some free stock for a referral link bonus there as well. PM me if you want to sign up for robinhood and I'll send the link :)

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Real Deal Denver

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Never gonna get rich trading stocks but if you aren't putting your money to use with a business at the minute then why not put it to work in the meanwhile with stocks or options? I made an easy mid 5 figure return on my stock accounts last year that would have sat useless in a bank otherwise. Made about the same on a much smaller investment with crypto but thats a different story ;)
Anyways, I use Scottrade who just merged with TD Ameritrade so we'll see how that pans out. I just opened an account with Robinhood as well for crypto trading possibility and got some free stock for a referral link bonus there as well. PM me if you want to sign up for robinhood and I'll send the link :)

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Thanks for the reply. I did buy stocks, about 18 years ago. I'm not aggressive, and I couldn't afford to be a risk taker. I wanted $600 for a digital camera that I needed at the time. I bought 3 stocks that could NOT lose. Microsoft, Best Buy, and Disney. Couldn't lose. They lost. Every damn one.

I lost a few hundred, instead of making a few hundred. Out. And been out ever since. I was dirt poor then. $600 to me at that time was like $60,000 today. Not chump change. Stocks are like giving my money to thieves that I know nothing about. Most expensive camera I ever bought. Never again.

Now I have books that I've spent hundreds on, and I'm self employed. Heading to the fast lane with a few ideas for inventions and business ideas. One will lead to another. The small ones first. The stock market can suck a rock. Even rocks need love...
 

steelandchrome

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Thanks for the reply. I did buy stocks, about 18 years ago. I'm not aggressive, and I couldn't afford to be a risk taker. I wanted $600 for a digital camera that I needed at the time. I bought 3 stocks that could NOT lose. Microsoft, Best Buy, and Disney. Couldn't lose. They lost. Every damn one.

I lost a few hundred, instead of making a few hundred. Out. And been out ever since. I was dirt poor then. $600 to me at that time was like $60,000 today. Not chump change. Stocks are like giving my money to thieves that I know nothing about. Most expensive camera I ever bought. Never again.

Now I have books that I've spent hundreds on, and I'm self employed. Heading to the fast lane with a few ideas for inventions and business ideas. One will lead to another. The small ones first. The stock market can suck a rock. Even rocks need love...
That $600 if invested evenly across those three 18 years ago would be worth $2,311 today.
DIS was $38.28 now $102 or $533
MSFT was $28.69 now $94 or $655
BBY was $13 now $73 or $1,123

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Real Deal Denver

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That $600 if invested evenly across those three 18 years ago would be worth $2,311 today.
DIS was $38.28 now $102 or $533
MSFT was $28.69 now $94 or $655
BBY was $13 now $73 or $1,123

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Yes, if I had bought at those lows. I bailed out before those lows hit, and was glad I did. I think I paid about 90 for MSFT, and bailed within it hit 60 or so. Look how low it went - 28. I sure didn't buy BBY anywhere near that price. I think I bailed on it when it hit 40 or so. It tanked to 13. BBY tanked because their main competitor went out of business - Circuit City. Good for best buy right? Wrong - the market thrashed them to death because they were in the same business. Unbelievable logic - I pick the winner and they get thrashed anyway. I don't need to be in any market that behaves like that!

At any rate, I took my money and set off on my own. I'm now self employed and am in control of my destiny (now that I've weathered the great depression, which did almost kill me...). In the long run, I traded good returns, but still paltry because I didn't have a fortune to invest - for a business that makes three times what many of my friends make - and I'm in control. Good trade I'd say.
 

steelandchrome

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Yes, if I had bought at those lows. I bailed out before those lows hit, and was glad I did. I think I paid about 90 for MSFT, and bailed within it hit 60 or so. Look how low it went - 28. I sure didn't buy BBY anywhere near that price. I think I bailed on it when it hit 40 or so. It tanked to 13. BBY tanked because their main competitor went out of business - Circuit City. Good for best buy right? Wrong - the market thrashed them to death because they were in the same business. Unbelievable logic - I pick the winner and they get thrashed anyway. I don't need to be in any market that behaves like that!

At any rate, I took my money and set off on my own. I'm now self employed and am in control of my destiny (now that I've weathered the great depression, which did almost kill me...). In the long run, I traded good returns, but still paltry because I didn't have a fortune to invest - for a business that makes three times what many of my friends make - and I'm in control. Good trade I'd say.
That's awesome! Good for you.

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eliquid

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Yes, if I had bought at those lows. I bailed out before those lows hit, and was glad I did. I think I paid about 90 for MSFT, and bailed within it hit 60 or so. Look how low it went - 28. I sure didn't buy BBY anywhere near that price. I think I bailed on it when it hit 40 or so. It tanked to 13. BBY tanked because their main competitor went out of business - Circuit City. Good for best buy right? Wrong - the market thrashed them to death because they were in the same business. Unbelievable logic - I pick the winner and they get thrashed anyway. I don't need to be in any market that behaves like that!

At any rate, I took my money and set off on my own. I'm now self employed and am in control of my destiny (now that I've weathered the great depression, which did almost kill me...). In the long run, I traded good returns, but still paltry because I didn't have a fortune to invest - for a business that makes three times what many of my friends make - and I'm in control. Good trade I'd say.
At some point, you might want to try again. Totally up to you though.

My first "public" trade on this forum in crypto was a bust. 2nd one ended up winner ( small win ).

When I eat at a restaurant and its not what I expect, I give it a 2nd try months later. Sometimes things go wrong for everyone.

If I stopped being an entrepreneur when I failed, I wouldn't be where I am today.

Totally up to you of course, but don't let 1 failure define the outcome IF you get interested again.

Good to hear you are doing well now.

.
 

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ZCP

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@Real Deal Denver so never go back to the bee hive because you got stung that one time? Why not get the right gear to go in, get a beekeeper buddy to help, and go in at the right time to get some of that tasty honey?

See that $600 as education / training. Just like in business, you have to learn how to play the game.
 

MJ DeMarco

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Why would I want to invest in a company that I don't know, can't influence in any way, and hope and pray they don't merge, declare bankruptcy, or have their competitor invent time travel?
I not suggesting this be someone's first business, but their first dive into finance.

As for WHY I would invest in a particular stock, because I like their business. Their growth. Their culture. Their numbers. And the 5% dividend they pay.

At the end of the day, buying a stock is company ownership.

I like owning companies versus working for companies.

Surprised this is a question since you mentioned you read both Unscripted and TMF.

A money-system is a business.

I'm not suggesting that you use the stock market to get rich or to start a business.

I'm suggesting you use it to deploy idle capital so it can pay you passively for the rest of your life.

If this man wants to "trade stocks" I'm all for him diving in and getting an education.

And an education it will be. ;)
 

Real Deal Denver

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Surprised this is a question since you mentioned you read both Unscripted and TMF.

A money-system is a business.
Absolutely, positively, no control. Buy the best companies you can find and roll the dice. Um, well, no.

I can see getting stabbed once or twice. But all my companies were leaders in their fields, and all stabbed me.

I do better - much better - in casinos. LOL.
 

Mike Partee

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I can see getting stabbed once or twice. But all my companies were leaders in their fields, and all stabbed me.
This response just reeks victim mentality.

Who really is at fault here?
The companies who "couldn't be beat," or YOUR bad trade?

$600 is not much for an education. A painful one, yes.
But next time you can do better, assuming you learned anything.

Apparently not.

I'd encourage you re-read @eliquid 's response above.
You win some, you lose some.

But if you're fine with never being a winner, then never play the game.
 
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JohnBuffet

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I’ve found the clue to use e-trade app...then I’m guessing I would have to pick which brokerage firm. Am I on the right track or missing the mark indefinitely


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Robinhood has 0 cost trades, and Fidelity is 5 bucks a trade I believe.
 

JoelM

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Stock market is no more risky than real estate or other investments. You could lose thousands in a real estate deal once you make the transaction, but you cannot liquidate that asset quickly. I did stock market once and lost thousands. I don’t do it right now because, if I get in, it would be to collect on dividends. I would also need a good adviser because it would be good to have someone you can talk to before making decisions on emotions.
 

WJS

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The world is full of losers. Don't feel bad Joel - I'm with ya man. Pffffft.
You're missing the point. Read @MJ DeMarco's sentences carefully:

And the 5% dividend they pay.
I'm suggesting you use it to deploy idle capital so it can pay you passively for the rest of your life.
The whole point of buying stocks is NOT for capital gain, but for the passive income that they provide. Assuming you have finally made so much money you just want to retire, sit around and do nothing. Putting your money into fixed deposit would be considered as "almost risk free", but the rates are so low it's hardly significant. Dividend paying stocks, however, can provide a much better option for you. The point here is to buy stocks that pay dividend consistently throughout the years (preferably 5 years and above) and hold them forever until they start to show signs of being unprofitable. Assuming you have 1,000,000 shares of Company A, Company B and Company C, and they all pay 5% dividend per year. That's easily 6 figure income per year solely on dividend. This is the passive income that MJ is talking about, not buy today, sell tomorrow. This way of investing into money system is only practical when you have truckloads of money. Hope that helps you to understand better.
 
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Real Deal Denver

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You're missing the point. Read @MJ DeMarco's sentence carefully:





The whole point of buying stocks is NOT for capital gain, but for the passive income that they provide. Assuming now you have finally made so much money you just want to retire, sit around and do nothing. Putting your money in fixed deposit would be considered as "almost risk free", but the rates are so low it's hardly significant. Dividend paying stocks, however, can provide a much better option for you. The point here is to buy stocks that pay dividend consistently throughout the years (preferably 5 years and above) and hold them forever until they start to show signs of being unprofitable. Assuming you have 1,000,000 shares of A company, B company and C company, and they all pay 5% dividend per year. That's easily 6 figure income per year solely on dividend. This is the passive income that MJ is talking about, not buy today, sell tomorrow. This way of investing into money system is only practical when you have truckloads of money. Hope that helps you to understand better.
Ah yes it does help. My bad - thanks for the extra info!
 
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MJ DeMarco

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Ah yes it does help. My bad - thanks for the extra info!
Did you read Unscripted? I wrote an entire section on the topic, the capital principle, the money-system, etc.
 

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Real Deal Denver

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Did you read Unscripted? I wrote an entire section on the topic, the capital principle, the money-system, etc.
Yes, I realize that. I focused on the part where you said there are a lot of IFS in life -IF you save 10%, IF your returns every year are positive, IF there are no recessions or wars, then yes you will retire wealthy - WHEN you are 70!! Did I read that? I absorbed it into my DNA!

I also focused on the aspect of control. Aside from my personal experiences of being stabbed by the stock market, everyone knows that there is no control of your money in the stock market. Case in point - and this should be a TEXT BOOK case - Best Buy drove their main competitor (Circuit City) out of business! That would be like GM driving Ford out of business, but not on that scale. Nevertheless, a monumental feat. I picked the winner - Best Buy - and I had their stock. Did Best Buy reap rewards for slaying their competition and thereby dominating the market? Um, no. Their stock was put through the thrashing machine because they were in the same business. Imagine if you doubled YOUR business MJ, by driving your competition out of business. That would certainly be a monumental feat worthy of reward. Not in the stock market though.

Control. It's not there. Remember, I had the top three companies in their fields - Microsoft, Best Buy, and Disney. These are golden boys in the stock market! And they all tanked.

Lesson learned. My homework didn't pay off, and I can't predict a damn thing. Nobody can. All anyone can do is "cover" more bets - like playing craps and increasing your overall odds. Diversify. And pray. So I don't play the stock market game. I sure don't have decades to ride it out through good times and bad. But I do love craps, and do pretty well at it!

I'll keep my money and build my OWN business, that I CAN control. I would have done better even having a hot dog cart than being in the stock market. Does that make me an idiot? Maybe. Does that make me a loser? Maybe. Does that subject me to the risks of collaborating with someone like Bernie Madoff? Hell no!!! I guess then, I might not be such a loser, or an idiot, after all? Reality hardly ever works out like things do on paper. Gotta be suspicious all the time. Even when investing in Microsoft? Disney? Yes, even then.
 
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CareCPA

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Control. It's not there. Remember, I had the top three companies in their fields - Microsoft, Best Buy, and Disney. These are golden boys in the stock market! And they all tanked.
...
This is why when my money goes into the stock market, I don't cherry-pick the stocks. I can analyze a 10-K (and have put a few together in my time), but that doesn't mean everything is being disclosed in there.

However, I think my chances of 500 companies all tanking at the same time is pretty low. And when it does happen, it's because there are much larger economic factors at play (i.e. recessions). Especially when the management of these companies are solely focused on increasing shareholder value - many of them are paid heavily in stock options that don't vest until several years in the future.

And when those 500 companies (or whichever index I'm in at the time) do tank, I let it ride. Because it's only a loss if you pull your money out. In the meantime they continue to pay (perhaps reduced) dividends.

I don't remember where I heard it, so if you know the attribution please let me know, but the phrase that comes to mind is something like "stocks are the only items that people buy at full price and return when they're on sale."
 

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