Where to slowly put $5000 for emergency savings

[ceo]

I have 600 left after paying every single debt i have. i could reduce those by not paying the tickets and skipping some months until finally i got caught up. Just switching my priorites. i would make it but it wouldnt be the most ideal situation at all

I would def have to have a roommate, apt's are 700 alone for 1-2 bdr

Yeah, you'd have to rent a room from someone. Otherwise you'd have to come up with 1st, last + deposit. 700x2+1000 = $2400. you'd be living out of your car and showering at the gym for a few months before you could save that up.

Don't piss dad off!

Also, just because your dad is educated and has a successful chiro practice, doesn't mean he knows everything about investing. I've known plenty of doctors that have lost tons of money on investments.

Your dad and brother are in a better position than you to lose money, because they have money to lose. You need to save my man. And not in overpriced silver.

 

[miplank]

CEO is right

 

[ceo]

The downside of being better than everyone else, is that people tend to assume you're pretentious.

 

[samoth]

What, nobody here knows sec regs require $25k minimum equity at all times to day trade?

You're looking at around $50k to actually attempt day trading.

It's a shitty rule, though... it prevents the rest of us from profiting from dumbs like you.

 

[samoth]

The downside of being better than everyone else, is that people tend to assume you're pretentious.

Apparently, not better, than everyone else, when it, comes, to appropriate comma, usage.


:,co,w:

 

[stevesmi]

What, nobody here knows sec regs require $25k minimum equity at all times to day trade?

You're looking at around $50k to actually attempt day trading.

actuality that is false believe it or not. the 25K rule only if you have a MARGIN account. if you have a cash account you can do as many trades as you want and have an account with any amount. there are brokers who require you to open only margin accounts, that might be why people think this. so in that case yes you must mantain 25K if you want to daytrade.

and if you do get a margin account you are 4 to 1 so the brokerage firm is gonna want to know you have 100K in assets in case you blow up.

glad is not gonna qualify for a margin acct right now so he is gonna just be risking the money he puts in the account. so he will be able to daytrade all he wants.

* been a trader for 12 years *

 

[samoth]

actuality that is false believe it or not. the 25K rule only if you have a MARGIN account. if you have a cash account you can do as many trades as you want and have an account with any amount. there are brokers who require you to open only margin accounts, that might be why people think this. so in that case yes you must mantain 25K if you want to daytrade.

and if you do get a margin account you are 4 to 1 so the brokerage firm is gonna want to know you have 100K in assets in case you blow up.

glad is not gonna qualify for a margin acct right now so he is gonna just be risking the money he puts in the account. so he will be able to daytrade all he wants.

* been a trader for 12 years *

True, but a layperson trying to be a daytrader without using margin is like a layperson trying to start a company without using debt or buy a home without getting a loan... sure, you can do it, but you won't really get anywhere.

On that note, how do you see upcoming earnings for the oil industry faring this coming month, e.g., HOC, VLO, TSO, WTI, WNR, etc.? How will the crack spread affect refining companies with tighter margins?

 

[stevesmi]

^^ they've been on a tear. APAGF is a smaller one I follow. incredible run.

i'm sure eventually they will implode but I'm not gonna lose my ass averaging up trying to fight the trend.

 

[samoth]

^^ they've been on a tear. APAGF is a smaller one I follow. incredible run.

i'm sure eventually they will implode but I'm not gonna lose my ass averaging up trying to fight the trend.

A tear? Did you watch the market last week?

I'm trying to learn how the oil industry works... it's pretty interesting.

 

[stevesmi]

A tear? Did you watch the market last week?

I'm trying to learn how the oil industry works... it's pretty interesting.

you will drive yourself crazy. these stocks are commodity driven. remember the dry bulk shippers and the run they had? then the implosion? well this is gonna happen again, when I have no idea.

these stocks are driven by arbitragers, not by fundamentals.