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I have some money saved up, and a paid off home. Work isn't going too well and I'd like to find another source of income at this point.

But I'm really anxious when it comes to risking my money in investing, probably cuz I don't know anything about where to even start.

So I wanted to know if you guys have any resources or suggestions or guides or links or anything you can share with me that might help me avoid this rut I feel like I'm heading into.

I have some money saved up, and a paid off home. Work isn't going too well and I'd like to find another source of income at this point. But I'm really anxious when it comes to risking my money in investing, probably cuz I don't know anything about where to even start. So I wanted to know if you guys have any resources or suggestions or guides or links or anything you can share with me that might help me avoid this rut I feel like I'm heading into.

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[–] • 0 pt

ok idk what paper trading is, don't get what an investment account is.

I get "buy low, sell high" but where do you even go to do this, and are there fees involved to consider? I can't imagine it's just shots in the dark, so how do you determine when something is low and will go high?

I don't wanna say hold my hand through all this since I know these are basic questions, so I was just gonna look into it myself. These are just the things that popped into my head when I read your comment.

[–] [deleted] • 1 pt

Paper trading is practicing trading with monopoly money basically. You can be as reckless as you want. Its fake money.

Check out this video. https://youtu.be/aolEEYok5LM

All of your answers can be found online. There are lots of people teaching the basics in hopes you buy their courses or some time of paid group.

Also find trading personalities and watch videos. "What I wish I did when I started."

Get a stocktwits account. You learn a lot just by asking questions.

How do you know its a good time to buy and it will go up? You look for "indicators" and sometimes you are wrong. So some common trading patterns are

Bull flag Momentum Oversold chart Short squeeze

And a stock could be showing 1 or more patterns showing a specific outcome is likely going to happen.

There is lots of volatility in the market so you can do something called swing trading. Where you own a stock wanting to sell in same day or a few days.

You can also do multiple catalyst trading. Where you look for a stock that is a good company and just beaten up and undervalued and other market influences. You buy it low and news and innovation that happens with the company can make it double or triple. But its more holding long. Watching paint dry.

[–] • 0 pt

All my friends say get dogecoin. Any advice on that?

[–] [deleted] • 1 pt

Investing is like building a shed. Everyone. Literally everyone will have advice. Some people will have great ideas. You will take some advice and ignore other things.

Buying dogecoin is a hype momentum play. The real move was from .0004 to now .04. The market cap is huge compared other crypto. So it takes more to move it.

If losing $100 won't hurt you. Fuck it. Let er rip. YOLO. Should you put all your eggs in one basket and put life savings in it? Fuck no. Ill slap you in the face right now.

But here. If you gonna buy it. Take a look at the chart. See if you can't decide on what price YOU want to buy it at. And what price YOU want to sell it at. Try timing the market. Get in low.

Also check out the 48h chart. I think last night it went to-.02. The fucking thing went negative. Figure out how and why. Will it happen again? Can you get doge at .000001???

[–] [deleted] • 0 pt

Did you get the doge in the .02's??