Well. People say the only people making money trading are those people selling courses. Yes, with all the free information youtube provides. If you are paying anyone to learn, or what their stock picks are. You have already lost the game.

This is the only way to make money in the market. You need to have at minimum 3=5 year plan. And think in percentages not in dollars. You can't expect to be a millionaire putting a thousand dollars in the market. The less skin in the game you have, the less dollars you will make, but it's about percentages. Do you have a savings account? What percentage is the bank paying you for the money? The goal of a savings account is to what? Save money. The goal is also to not use that money until a later date.

So now it's time to build your new saving account, the stock market. If you know zero about investing. I would look in to index funds there are all sorts of them (picture a basket filled with all tech stocks) for example. And your money buys you tiny fractions of each of the stocks in said basket. This is a great way to get in to the market. If you buy in to a reputable fund, you will automatically earn a much larger % on your money than any bank will ever offer you. Savings accounts are for suckers? Well not entirely, you should always have some cash on hand for emergencies. This year most people including myself is taking losses on their money. Overall I'm way ahead, but this year It took a giant shit. If I needed cash I would have to unload things either I'm down on or I'm up on. If it's say Tesla, now I have to pay capitol gains tax on that money. If it's Carnival cruise, I have to take my loss. But the Government only allows me to write off $1800 per year until I have written off the entire loss.

So how to trade the market? You need to think future even as a trader. I place very large bets on very large companies. Why? Most of these companies don't 10x over night? Exactly, they also don't take 10x shits while I decided to run out for an hour it works both ways. But, when they do take a shit. I have enough confidence in that company to wait it out and it will eventually come back. Have I been wrong? Absolutely, no one is 100% a winner in this. But I decrease my chances of taking a loss when it takes a shit, because of the 3-5 year plan. For example, I am currently losing money on Amazon, will it recover 3-5 years from now? Fuck yeah in my opinion and I will have a nice return. I invest in companies I feel or know in my heart will not be going anywhere. I also invest in things I plan on holding past a year. Why? When you sell within the year, your profits are counted as regular income and taxed accordingly, when you hold over a year, your taxes are about 1/2 that amount. Now If something I really don't give a fuck about, and only purchased at what I felt was a sale price, I'll bounce and take profits the same year. But mostly I will check to see the premium on a leap and write a covered call to lower the price of what I paid even more, and a nice premium will protect you a little bit from when a stock declines. And your stock gets locked up by the broker until the leap expires or you close out the contract.

So what does this all mean to you? You don't need a lot of money to get in to the market. You need two things discipline and patience. My suggestion, you start putting say 25% of the money you put in your savings account every time you get paid in to a brokerage account. (Don't buy fractional shares) wait until you have secured a company you want to invest in. Amazon, Berkshire class B shares. I can rattle a ton of those off want to watch a little more price action? I suggest AMD . Don't get distracted by the noise. Watch three stocks to start, and only look at massive companies. You don't need to learn how to read charts (even though it's every helpful) And news is worthless in the long term. But if you start to watch three stocks every day. You will see your own pattern. And you will have in your mind what you feel is the days the stock is over priced. And when the stock is on sale. Wait for it to go on sale, again no one is perfect but most times especially looking in the future sale days are the only times to buy, because if you buy for the sake of buying. You will not only miss out on a "sale", you will be temporarily behind the 8 ball so to speak. Stocks go up and down. Be a specialist in the stock you are interested it.

I've heard a lot about trading simulators that start you off with imaginary money/crypto to practice trading. Im undecided if they are truly a useful venture. Any thoughts?

Lesson. I would have made about 6kish since yesterday. But you have to always remember there is always tomorrow, and never put good money in to something bad even though your gut feeling was right. You will miss way more boats than you catch in the stock market. But make sure you always try your best to get in the boat with the smart people. Because the retard boat will sink more often. That being said, @MrLee maybe we should link to WSB on the sidebar? Also the 4chan one @Whomp uses. I would do this myself but I have no clue how to do that. I think we should be scanning those two boards for potential meme money makers. Because if we can narrow down a few before they do go insane, we would be risking hardly any money on lotto tickets.

This kid on Reddit made 120 million dollars off of bbby

https://finance.yahoo.com/news/20-old-usc-student-netted-122608953.html

He just bought something else and that stock went up by 50% today, we need to find that article, because they may be the next meme target.

Few reasons. Don't think there isnt some huge money watching this super closely to pounce to make money or get a seat on the board. All car makers will be suffering until the economy is getting better. Elon Musk if not lying sold more TSLA to weather the storm. Or I would like to think. Pay off his margin debt plus keep the company a float. Because there should be a panic once the margin news hits. If you are young. I would consider this being one of the best 5 but closer to 10 year investment. I have been in Tesla a very long time. And I can assure you every day is drama when you lose you lose big, but you win you win huge. But I think moving forward this is a long term value if you don't mind wild swings like this. But I would slowly buy as this takes a giant shit until next year.

And one last thing and this is tin foil hat shit.

Elon owns X dot com.

I think in the future he will put all his companies under X and you will own a piece of everything. He owns and may add new companies. And he will own GM one day. Again tin foil hat nothing to see here.

I'll start with my first tip. Day trading is for suckers, you are playing against some of the best and fastest algorithms made by some of the top financial engineers out there. It's not rigged, you will win some, but overall you will lose in the long run I don't care how fast you are or your computer is, you will never be fast enough to sustain that in the long term. Let me know what you guys think and I'll spend some time on this.

Is it too late for me?

...

HODLLLLLL

Just make a post the night before with a bull case, saying you are going to buy more as it goes down.