EMAIL I JUST GOT
Good morning. I only have $400 in my buying power on
Robinhood. I wish I knew you were doing trading months
ago, I have lost tons of money at lotto. At least I could
have tried this.
Yea…..I will be focusing more on stocks because
its a more secure way to make money.
I have said this before:
Pick 3 is NOT a money making system.
Pick 3 is a hobby…it is something you do for fun.
If you want to make real money, you have to do something else.
Putting money on the right stocks is a solid dependable way to make money over the long term (sometimes in the short term if you pick the right stock like GameStop). Therefore, I will be posting stocks that I think will do well from now on.
I put up a list of stocks under $20 on a recent post:
I want to point something out: Robinhood makes it too easy to buy and sell stocks. The interface makes it feel like a game.
This is both good (it makes it less intimidating) – but its also bad because many people keep checking their stocks every day – but this is bad because investing in stocks is a long term strategy.
That is why yesterday (May 29) I opened an account at Fidelity:
This is a more traditional brokerage company (no fees for buying and selling stocks…0.65 cents for option transactions).
Fidelity also has several features that Robinhood does not
have (like Alerts, Robo Investing, IRAs, Annuities, etc.).
I will be buying my Top 20 stocks using Fidelity.
See TOP 20 STOCKS–May 28-2021.pdf
So I will be using Robinhood for buying and selling stocks
on a weekly and monthly basis (I do NOT recommend trading
stocks on a daily basis) and Fidelity for my long term stocks
(the Top 20 stocks are good for a year or two).
The system I am using is based on the Zacks grading system
of 1 to 5: https://www.zacks.com
I think I will be posting 3 types of stocks:
Low Price Stocks (under $20)
Best of the Best (high quality stocks, usually $10 to $90)
The Top 20 (good for one to two years, $10 to $900)
For anyone who is low on funds, I recommend starting
out by buying one or two Low Price Stocks at Robinhood.
Believe me….2 years from now you will be glad you did.
These 3 lists will be updated regularly (low performers
will be removed and replaced with better performing