The Great 2021 Stimulus 2.0 Investment Contest

Aight, I got a buddy at work who has RH so probably going to go that route over other options.

There's no "raw dogging" it? You must use a broker? And I assume they take their cut.

Is TSLA is near $700 a share is throwing $100 of my own at it cheating in this game?

 

Almost every mainstream broker now offers commission free trading. The signups are free, and the trading is free.

Yes, you have to use a broker. That's the only way to buy/sell stocks. A "broker" is any website or app that allows you to trade stocks. It's not a real life broker like ye 'olde days of wall street.

Tesla is over $600 a share. You can buy a fractional up to $600 if your broker allows it, but you can't add money into this contest.

Also keep in mind, if you make a bunch of money, save 40% of your profits for taxes (just to be conservative)

 

40%

WTF!?

Didn't know that's a thing...

I couldn't buy one share and subtract $100 from my (theoretical) profits?

 

Welcome to short term capital gains. The tax burden isn't really that bad, but you don't want to get caught with your pants down.

For the purposes of this game -- no. $600 is your $600. No other funds, margin, or witchcraft is allowed. Make or break on your initial deposit.
If you bought a share of TSLA and it ended up rocketing to the moon, your detraction of the $100 to buy the full share would be washed out by the gains. Just play the $600 buy in

 

And what do we got to do to get our $600 now?

 

wait for the .gov to send it to you. Should be in a couple weeks.

 

I never got my $1200 what's up with that?

 

Call the IRS and inquire.

 

No wash. Pay to play. Doesn't matter what you use to fund as long as that funding equals exactly 600 USD. IE, I ain't waiting on Uncle Sam. lol

 

you called?

brokers are basically free to trade stocks at this point. RH is free options, TD is 0.65 commission per contract with most others in that neighborhood.

I would vote yes. You get 600. That’s it. (RH allows you to buy partial shares, by the way, I think some other brokers do too)

Read up on short term and long term capital gains taxes.

aye aye captain. I’m game.

 

Yah, I'm inclined to agree. We'll start on the 15th with proof of deposit regardless of stimmy checks.

 

I’m planning to have 600, earmarked in a second portfolio within yahoo but in my same single account in TD not opening another account just for this

 

Aight, so what's the difference between a partial share and a full one?

 

As it stands right now, the participants here are going to dump $7200 into the market on ridiculous bets to try and win a contest that means nothing. 'murica.

 

Partial shares: Most brokers will allow you to buy into a stock a dollar limit vs a share limit.

So if you have $100. And the stock you want to buy is $101, your broker will let you buy 99% of that stock and they'll float the rest across their internal capital or other buyers. Extrapolate that over millions of dollars, and there's enough liquidity moving around to let people buy fractional shares.

Please don't take this the wrong way, but unless you're really prepared to lose your 600 bucks as you're just getting into trading, it might be best to watch from the side. There's a lot of us that do this all day every day, and we lose tons of money. It really hurts if you're not quite sure what's going on and all your money that you could have spent just vanishes in an instant.

 

Wasn't expecting to get $600 from the Gvt, wouldn't miss it if I didn't. I could throw $600 of my own away but wouldn't be real crazy about it.

 

Ok then. That's my last disclaimer for you. Set up your brokerage, post proof of $600 deposit on or before the 15th, and may the odds be ever in your favor! Good luck, and I hope you win. It would destroy the egos of us day traders

 

My GF is a digital artist by profession. I'm gonna to see if I can con her into making us a really cool piece of art to use for this thread.

 

We could make it mean something. Just throwing this out there to get a consensus.

Trading money is $500. Everyone who is in will only be in when they pony up $100. That can go to a paypal account to be held. End of challenge winner takes all. I'm betting that weeds out a lot of people but it's a thought. lol

 

I'm in if I get it. It's 600 free dollars I wouldn't miss otherwise, might as well have some fun with it and not just blow it on the usual stupid stuff.