Post: #1

Hello guys, this is my first threat here. The Rooshv Forum looks great, I finally joined after lurking for a few months.

As a high school student in the US, I am interested in making money outside of the rat race. I have started an online side business which is raking in a few hundreds a month, but am interested in trading, because my business model isn't scalable.

I am currently looking at short term trading penny stocks vs altcoins. I am currently leaning towards altcoins because my currently schedule (7 am - 3 pm at school) doesn't allow to day trade stocks during the most liquid times. I also go to a very preppy school and am bogged down with AP classes, so much of my time is tied up studying. I am attracted to altcoin's lack of a scheduled and set trading time and low entry requirements (low cost and no official paperwork). I also don't want my earnings to be trackable. However, I am concerned about a lower profit potential for altcoins vs penny stocks.


Because I was told that penny stocks have a higher profit potential, I am looking at trading them during breaks and during the summer. I'm aware that to set up a brokerage account you need to be 18+, but I can set up a custodial account. However, I am again concerned about my school schedule conflict, and taxes and regulations due to my age.

So should I get into trading altcoins or penny stocks? Thanks in advance.

Post: #2

Crypto

Post: #3

Penny stocks aren't worth messing with. They are valued that low for a reason, there's very little potential upside because these companies aren't profitable. I would rather teach you to be a semipro poker player. You would have a much better chance at keeping your money. How about starting your own business? Any industry that interests you?

Post: #4

^^^^
Penny stocks are nothing but a roll of the dice and a waste of time.
And Alt-coins have no intrinsic value, what we are witnessing is in my opinion a bubble. The best way to profit of the market I think is to go long in undervalued sectors or companies, like $ACIA.
If you have time please read this one - Contrarian Investment Strategies: The Psychological Edge.

Post: #5

There is little similarity between the two. Penny stocks are garbage compared to crypto. Message me and we'll talk.

Post: #6

If you need another reason for Crypto...think about the trading fees and you have your answer.

Post: #7

Thanks for the replies. I've heard that altcoins aren't as liquid as penny stocks, and would have a lowered profit potential. Is that true?

Post: #8

(08-07-2017 05:23 AM)tdrake2 Wrote:  Thanks for the replies. I've heard that altcoins aren't as liquid as penny stocks, and would have a lowered profit potential. Is that true?

Have you ever looked at a chart of an Altcoin?

Look at the Neo/ ANS chart of the last few days and tell me there is a low profit potential.

Post: #9

Don't bother with penny stocks. If you're going to invest and hope for moon shot companies give Republic.co or SeedInvest a look. You can invest in non-public companies that are already angel backed. Expect to lose everything and don't expect any sort of return for years, however this is much more of an investment strategy than flipping penny stocks or alt coins.

Also, begin to build a financial portfolio. Do you have a $500 'shit hits the fan' fund? Index funds are not the devil either. Guaranteed long term success comes from diversifying.

You're 17 man. Pull out an investment calculator and do the math of how age is the single biggest compounder to financial success if you do it correctly for the long term.

Post: #10

(08-07-2017 07:57 AM)MaleDefined Wrote:  Don't bother with penny stocks. If you're going to invest and hope for moon shot companies give Republic.co or SeedInvest a look. You can invest in non-public companies that are already angel backed. Expect to lose everything and don't expect any sort of return for years, however this is much more of an investment strategy than flipping penny stocks or alt coins.

Also, begin to build a financial portfolio. Do you have a $500 'shit hits the fan' fund? Index funds are not the devil either. Guaranteed long term success comes from diversifying.

You're 17 man. Pull out an investment calculator and do the math of how age is the single biggest compounder to financial success if you do it correctly for the long term.

I looked into stable investments, but I don't like the market direction (crash coming up?), and I also didn't want to be tied up in legal stuff and taxes and fees.

(08-07-2017 05:27 AM)Ray Carlton Wrote:  

(08-07-2017 05:23 AM)tdrake2 Wrote:  Thanks for the replies. I've heard that altcoins aren't as liquid as penny stocks, and would have a lowered profit potential. Is that true?

Have you ever looked at a chart of an Altcoin?

Look at the Neo/ ANS chart of the last few days and tell me there is a low profit potential.

You made a point. But what I meant was the total number of small altcoins suddenly spiking. I heard that while some altcoins do spike, the number of spiking altcoins isn't as large as the number of spiking penny stocks per day , but I may be wrong.

My questions are:

1. Is the number of rising altcoins per day smaller than the number of rising penny stocks (and thus less profit potential)?
2. What are the best times in a day to trade altcoins?
3. If I make any altcoin profits, should I immediately cash them out for fiat, convert to bitcoin, or hold them?
4. Lastly, how are altcoins much different from penny stocks? Both involve pump and dumps, newsletters, and worthless ICOS/IPOS.

Thanks.

Post: #11

How much money do you expect to make investing in either penny stocks or altcoins?

For making money outside the rat race, especially at your age, investing in something you don't control or understand doesn't seem like the best way to accomplish that goal.

Post: #12

@drake

Read my last paragraph again.

On a larger note, your questions show a great deal of naievity about finance in general. I highly recommend you read a much wider body of financial literature before your school year starts up again.

Post: #13

Quote:Because I was told that penny stocks have a higher profit potential, I am looking at trading them during the breaks and during the summer. I'm aware that to set up a brokerage account you need to be 18+, but I can set up a custodial account. However, I am again concerned about my school schedule conflict, and taxes and regulations due to my age.

You're being fed some sales bullshit without enough technical knowledge to be able to tell the difference.

For any long position ( a "buy") in any asset, the profit "potential" is TECHNICALLY infinite. That doesn't mean it's infinite in practicality.


Also note that the way you're thinking is kinda sorta exactly how bubbles form and people lose their shirts. Remember that the majority of investors will always be wrong because the creation of a bubble that then crashes is caused by the majority falling in love with an asset and the consequent price inflation.

It's great that you're interested in the market, but if you're thinking of jumping right into altcoin without any experience you're not ready. The altcoin markets represent literally nothing, and it's an uphill battle for them to compete with bitcoin....nevermind that governments are actively trying to figure out how to destroy non-government cryptocurrencies. Penny Stocks at least represent an ownership interest in a company with legal rights attached, no matter how shady/shitty the company.



Here is what I would suggest. Open a demo account for a market of your choice for free, then practice for at least a year. Unfortunately there is no perfect "market". A lot of them might technically be open all the time but the Pareto principal applies: most of your good trades will happen within the first 90 minutes of a market opening or closing.

There's a great intro site that shows you the basic concepts of trading (they're FOREX focused, but the ideas apply everywhere) here: https://www.babypips.com/learn/forex

So here are your steps if you want to explore this:

• Run the the entire babypips course
• Open a free demo account somewhere
• Practice trades for AT LEAST six months before you even think about putting a penny of real money on the line
• At six months, evaluate your progress. If you consistently are winning (great TOTAL P/L on your demos) then, if you still like it, put a small amount of money in
• Start small. Nerves can be a bitch and you WILL fuck up some perfectly good trades the first time you use real money.
  

Post: #14

Invest in Vertcoin. Penny Stock price now, future value somewhere adjacent to the moon.

Post: #15

This is all nonsense. Pennystocks are simply stocks that have a low price per share. If I divide up a pizza into twelve pieces, but charge you half as much per piece as I would have for a pizza divided into 6 slices, then the cost would still be the same for the whole pizza. The actual price per share isn't what matters in determining valuation.

Cryptocurrencies should Not be used as an investment, but only as a currency. There's a reason Warren Buffet always avoided groundbreaking new technology: you never know which few of all the new startups will succeed. Guessing a successful cryptocurrency at this point gives you less than a 1% chance, largely because there will probably be further innovations made by future currencies.

If you want a safe way of investing with a reasonable return, take the classic Benjamin Graham approach. Invest slowly and regularly into these three categories:
1/3 into a domestic index fund.
1/3 into some foreign index fund/s.
1/3 into a bond index fund.

You can put 5% percent in a madmoney account if you are the kind of person who likes to make picks. That way you won't be as tempted to speculate your money with decisions that will almost always burn you in the end.

Post: #16

ALT coins all day everyday its not even close, for he most part I prefer investing in ALT coins than stocks period but still do both. With that being said I'm 15k shares deep in a penny stock thats still being traded on the NASDAQ but it has a a very good cancer fighting device called Chemstat and its been a roller coaster of emotions following on stocktwits. DCTH

Post: #17

(08-06-2017 09:08 PM)tdrake2 Wrote:  Hello guys, this is my first threat here. The Rooshv Forum looks great, I finally joined after lurking for a few months.

As a high school student in the US, I am interested in making money outside of the rat race. I have started an online side business which is raking in a few hundreds a month, but am interested in trading, because my business model isn't scalable.

I am currently looking at short term trading penny stocks vs altcoins. I am currently leaning towards altcoins because my currently schedule (7 am - 3 pm at school) doesn't allow to day trade stocks during the most liquid times. I also go to a very preppy school and am bogged down with AP classes, so much of my time is tied up studying. I am attracted to altcoin's lack of a scheduled and set trading time and low entry requirements (low cost and no official paperwork). I also don't want my earnings to be trackable. However, I am concerned about a lower profit potential for altcoins vs penny stocks.


Because I was told that penny stocks have a higher profit potential, I am looking at trading them during breaks and during the summer. I'm aware that to set up a brokerage account you need to be 18+, but I can set up a custodial account. However, I am again concerned about my school schedule conflict, and taxes and regulations due to my age.

So should I get into trading altcoins or penny stocks? Thanks in advance.

Either option you are going to lose the entire amount you invested 100% guaranteed. Spend that money on starting an online business that allows you to work from anywhere.

If you're looking for investments put the money in mutual funds in a roth IRA while you're still young and qualify for it

Post: #18

(09-28-2017 01:42 AM)LatinoHeat Wrote:  

(08-06-2017 09:08 PM)tdrake2 Wrote:  Hello guys, this is my first threat here. The Rooshv Forum looks great, I finally joined after lurking for a few months.

As a high school student in the US, I am interested in making money outside of the rat race. I have started an online side business which is raking in a few hundreds a month, but am interested in trading, because my business model isn't scalable.

I am currently looking at short term trading penny stocks vs altcoins. I am currently leaning towards altcoins because my currently schedule (7 am - 3 pm at school) doesn't allow to day trade stocks during the most liquid times. I also go to a very preppy school and am bogged down with AP classes, so much of my time is tied up studying. I am attracted to altcoin's lack of a scheduled and set trading time and low entry requirements (low cost and no official paperwork). I also don't want my earnings to be trackable. However, I am concerned about a lower profit potential for altcoins vs penny stocks.


Because I was told that penny stocks have a higher profit potential, I am looking at trading them during breaks and during the summer. I'm aware that to set up a brokerage account you need to be 18+, but I can set up a custodial account. However, I am again concerned about my school schedule conflict, and taxes and regulations due to my age.

So should I get into trading altcoins or penny stocks? Thanks in advance.

Either option you are going to lose the entire amount you invested 100% guaranteed. Spend that money on starting an online business that allows you to work from anywhere.

If you're looking for investments put the money in mutual funds in a roth IRA while you're still young and qualify for it

Sorry bro but this is just straight up bad advice. Just comes off as someone who hasn't tested the crypto waters himself positioning themselves as some kind of authority. If you're not an idiot and do your research when you make your crypto investments you can multiply your money like no other.

Forget about mutual funds or other shit like that- you're looking at what, 7% annual returns? If you're investing 500 bucks that might as well be nothing.

I can personally guarantee that if you were to invest the 500 bucks mentioned in this thread in LINK right now and forget about it for 8 months it will be worth $2000 MINIMUM. In fact I'd even be willing to pay this kid the difference in the value of his investment and 2000 dollars if I'm wrong and it goes below that 8 months from now. Yes, that means that I'm guaranteeing a 4x return and will be willing to pay the difference to ensure that return if I'm wrong.

Post: #19

(08-06-2017 09:40 PM)[email protected] Wrote:  There is little similarity between the two. Penny stocks are garbage compared to crypto. Message me and we'll talk.

I'm a big crypto believer and enthusiast myself but just because an altcoin is crypto doesn't mean it's not garbage. Same way most penny stocks are garbage most altcoins are garbage. I'm not talking top 50 or top 100 altcoins necessarily but literally there's hundreds if not thousands of altcoins out there many we've probably never even heard of as most people don't go that deep down the charts.

Post: #20

(08-07-2017 09:35 AM)tdrake2 Wrote:  

(08-07-2017 07:57 AM)MaleDefined Wrote:  Don't bother with penny stocks. If you're going to invest and hope for moon shot companies give Republic.co or SeedInvest a look. You can invest in non-public companies that are already angel backed. Expect to lose everything and don't expect any sort of return for years, however this is much more of an investment strategy than flipping penny stocks or alt coins.

Also, begin to build a financial portfolio. Do you have a $500 'shit hits the fan' fund? Index funds are not the devil either. Guaranteed long term success comes from diversifying.

You're 17 man. Pull out an investment calculator and do the math of how age is the single biggest compounder to financial success if you do it correctly for the long term.

I looked into stable investments, but I don't like the market direction (crash coming up?), and I also didn't want to be tied up in legal stuff and taxes and fees.

(08-07-2017 05:27 AM)Ray Carlton Wrote:  

(08-07-2017 05:23 AM)tdrake2 Wrote:  Thanks for the replies. I've heard that altcoins aren't as liquid as penny stocks, and would have a lowered profit potential. Is that true?

Have you ever looked at a chart of an Altcoin?

Look at the Neo/ ANS chart of the last few days and tell me there is a low profit potential.

You made a point. But what I meant was the total number of small altcoins suddenly spiking. I heard that while some altcoins do spike, the number of spiking altcoins isn't as large as the number of spiking penny stocks per day , but I may be wrong.

My questions are:

1. Is the number of rising altcoins per day smaller than the number of rising penny stocks (and thus less profit potential)?
2. What are the best times in a day to trade altcoins?
3. If I make any altcoin profits, should I immediately cash them out for fiat, convert to bitcoin, or hold them?
4. Lastly, how are altcoins much different from penny stocks? Both involve pump and dumps, newsletters, and worthless ICOS/IPOS.

Thanks.

Penny stocks and altcoins should be looked at primarily as speculation, not investment.

Penny stocks are flat out rip offs and unless you're spending money on the radar and spotting tools it's a fool's errand. Even the "penny stock" mailings are just pump and dumps.

Also, being in highschool means you are automatically in the lowest capital gains bracket. This is the best time to consider long term investments because once you graduate college you'll probably be making more in terms of salary which will affect your tax rate.

I had some money invested back in 2009 and let it sit in an account for four years. I saw massive gains during that time and when I graduated college and started making money, I was also in the lowest rate for long term capital gains.

As for altcoins, if you want to gamble in a currently upwards bubble take a stab at it.

Here's some advice for you. You can use it at both the casino and in investments.

Never put down money you can't afford to lose!

Repeat this phrase again and again for me until you get it into your head.

Good luck!