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Fun Trading Account Opportunities
Old 04-20-2020, 03:23 AM   #1
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Fun Trading Account Opportunities

Anyone who's read my posts knows that I'm firmly committed to establishing and following an AA, I don't try to time the market, etc...

But I have a lot of time on my hands suddenly and the market volatility is spectacular.

So I'm thinking of setting up a "for fun" trading account with a modest amount of money. <<1% of my investable assets.

Intend to use it for some experiments, particularly options and high yield debt, but maybe also straight trading on equities.

Curious as to what others might be doing/trading in this environment?

Again -- this is not for long term investing -- for fun & hopefully a little side profit.
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Old 04-20-2020, 07:15 AM   #2
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Quote:
Originally Posted by Closet_Gamer View Post
Anyone who's read my posts knows that I'm firmly committed to establishing and following an AA, I don't try to time the market, etc...

But I have a lot of time on my hands suddenly and the market volatility is spectacular.

So I'm thinking of setting up a "for fun" trading account with a modest amount of money. <<1% of my investable assets.

Intend to use it for some experiments, particularly options and high yield debt, but maybe also straight trading on equities.

Curious as to what others might be doing/trading in this environment?

Again -- this is not for long term investing -- for fun & hopefully a little side profit.
If you consider it a hobby or fun account with minimal % of your worth, I see no problem doing this. I just haven't convinced myself that it would be fun.
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Old 04-20-2020, 08:11 AM   #3
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I didn't set up a separate account, I just make limited moves and don't bet the farm.

Basically I'm doing options in small amounts now and then.
Bought some puts a while ago and made $2K , now I've sold some calls for a premium of $2.5K BUT they are still out there and if the market moves up more, they could get exercised.

If they get exercised I'm ok with it as I seriously doubt the market will skyrocket, and if it does I'll earn back FAR more paper losses with the rest of the money.

I don't really consider it fun, but I don't find gambling fun. I just do it as I feel at various times I can make some $$$
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Old 04-20-2020, 09:35 AM   #4
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This can be fun. I used to do it too.

If you have not read Jason Zweig's "Your Money & Your Brain" I would suggest doing so. A lot of our investing behaviors are wired into us by evolution and are useful for surviving in an environment of saber tooth tigers -- not so much in the stock market. He will show you where silly things like "I'm going to sell it as soon as it gets back the price where I bought it." come from and why we get such a thrill from winning trades. (Hint: The thrill is not a good thing.)
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Old 04-20-2020, 09:56 AM   #5
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I do it too. It helps when it's not Fantasy Football season.

My suggestion, and what I did, is to set up a Roth IRA with whatever amount you are willing to risk. That way you never have to worry about taxes, just profit/loss and possibly trading costs.

For the most part I'm staying ahead of my regular investments, percentage-wise, but I make enough dumb moves to help convince me that I should never think of trading our real money. I made two really great moves that have kept me above water, but some, like selling Gilead at a loss a couple of years ago, serve to show me that luck does not equate to skill.
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Old 04-20-2020, 10:03 AM   #6
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I'm definitely setting up a separate account:

When I go to Vegas, I put a $20 in my left pocket that is my taxi ride back to the hotel.
The money I'm going to gamble with goes in my right pocket. When the right pocket is empty, I jump in the taxi. If there's still money in the right pocket, we're keep rolling. And you never, ever, put your ATM card in your right pocket.

Hadn't thought of a Roth. Good idea.

Now the question remains...what should we be investing/speculating on?
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Old 04-20-2020, 10:10 AM   #7
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... Now the question remains...what should we be investing/speculating on?
Well, if you're in a hurry for that taxi ride, you could do commodities. Oil, maybe?
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Old 04-20-2020, 10:10 AM   #8
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This can be fun. I used to do it too.

If you have not read Jason Zweig's "Your Money & Your Brain" I would suggest doing so. A lot of our investing behaviors are wired into us by evolution and are useful for surviving in an environment of saber tooth tigers -- not so much in the stock market. He will show you where silly things like "I'm going to sell it as soon as it gets back the price where I bought it." come from and why we get such a thrill from winning trades. (Hint: The thrill is not a good thing.)
Will have to grab it. Thanks!
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