Originally Posted by myselff77:
For you option traders, any advice how you got started and avoid anything stupid that pisses away your money?
Also, I assume any gains are getting taxed at the short term rate unless in something like a roth or does some other tax situation exist when trading options?
There is no faster way to blow up an account than options trading.
First off. I’m not a big investor. I have a separate police retirement growing but started a Roth IRA in December. I don’t put much in it, $100/every two weeks. I noticed it’s been dropping all week. Should I continue putting money in it or save my money since it’s tanking? I’m not negative yet but should be next week when this continues.
I only buy two mutual funds through Charles Schwab. SWTSX and SWISX. Mainly because I have no idea what I’m doing and just saw these on other forums. [Reply]
Originally Posted by Dunit35:
First off. I’m not a big investor. I have a separate police retirement growing but started a Roth IRA in December. I don’t put much in it, $100/every two weeks. I noticed it’s been dropping all week. Should I continue putting money in it or save my money since it’s tanking? I’m not negative yet but should be next week when this continues.
I only buy two mutual funds through Charles Schwab. SWTSX and SWISX. Mainly because I have no idea what I’m doing and just saw these on other forums.
If you're still in your working career, the accepted rule is that you keep putting money into it when it's going down. Eventually it'll go back up and you picked up some cheap shares. The concept is called dollar cost averaging.
We're all taking big hits this month. I have to adjust my mindset to know that it's just going to happen, and as long as I've got a system that lets me avoid selling during a pullback, I can soldier through it and it'll eventually go back up. [Reply]