Quote:
Originally Posted by sxyblue
Your advice and insight are great Rmtt. I’m new to investing was contemplating starting a few months ago but had been hesitant to start cuz I think a recession has been overdue but since the market dove off a cliff I finally started at the end of March with a few grand just to get my feet wet. I had it all in things I think will go back up around fall once society is over the crest of the virus like CCL, PK, NCLH and the like that have been hit the hardest and had been on a steady uptick before March 23. Reading through this thread, doing a bit of research plus your advice I sold a few and added some money and bought a few penny stocks, XSPA and SEEl, to play around short term.
Just gotta give myself time to learn the nomenclature and trader-speak from sites and tutorial vids.
|
I'm still learning. My friend has been on me for years about doing this. As any Engineer, I process numbers and information pretty quickly and can multitask very well. Plus I'm used to charts, trends, etc.
The last two you mentioned will be long term holds for me. Seel will probably happen sooner though. They have 6-8 projects in the pipeline....2 of which are approved and being pursued that are worth a lot of money.
After that, they will continue to roll out new ventures.
But im in it same as you guys. So please use your discretion. Diversify and start slow if you decide to get in something.
Get out when green and you feel comfortable. His biggest thing to me was that people get caught up in how fast the money is hitting and get greedy.
They try and time it and burn themselves.
Always buy dips....always sell in the rise. So what if you could have made $1300 vs the $1000 you settled for. Waiting for that other $300 could lose you the entire deal.
That's why having level 2 charts are essiential. They show all the bid/sell action.
With all the PR's going on....it's easier to pick winners.
As that dies down....you have to start reading charts, moving averages, etc....to identify the trends that are happening and look for the perfect storm such as volume, float, etc.
We talk multiple times a day as I question him a lot! But we've been friends for 20 years and I've helped him in the gym quite a bit.