Thinking about using my profits to buy real companies like Amazon and shop right meow. Thoughts?
Its funny the regulars in this thread all have different trading styles.
@brackis1 and
@rob mafia are like Knish in Rounders(John Tuturro) where they are just grinding profit and making a living .
Then you have
@Wadtucket who goes full $WAD and YOLOing his ass off.
All 3 are making money.
Then me. I am long term in about 75% of my stocks. Typically only buy what I will hold long term. So I have to believe in the product or the CEO, plus I study charts. I have been in the game for a while and probably older than most of you dudes. First stock I bought is $USAT(internet phone company and one day will tell that story, which is crazy, thought I was going to jail), which was given to me by a bar regular. Turned $300 into over a grand and sunk that profit in Lucent and never looked back.
I Bought GE just because of the CEO. Bought $MVIS because I believe in the tech. I also gamble on shit, which I did with $AMC, and already in and out of $EXPR(something I never intended to hold) and I take those profits and sink into blue chips. So for me personally, I like the strategy of taking gambles and taking those earnings and parking them in Blue Chips. Those Blue Chips are my retirement along with my 3 Vanguard funds.
Not all my gambles have paid off. I am stuck with some COVID gambles that I will be bag holding for a while, but have enough resources where I can wait out to break even. I know I should sell, but kind of stubborn with selling for a loss.
Cliffs
Good strategy to park profits in blue chips. Sure its boring but we do this to make money.