Side-hustles - what's yours and how do you make it work?

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Look at day trading/market timing/options as a ‘side hustle’. I choose to see it as more of a weekend in Vegas, but I think side hustle isn’t a totally unreasonable way to look at it either. I just don’t think it should be anyone’s primary path to financial independence.

20% minimum of gross salary should be going toward basic boring investing in index mutual funds at a reasonable asset allocation designed to match the market return at lowest cost possible because there is NO EVIDENCE that anyone can beat the market regularly and predictably for any long period of time.

Separate these two very clearly in your written investment plan, never allow them to cross paths and you’ll be fine.
 
@neurochica good call with BNGO. Hopefully you held on for the recent ride up (way past 7 which appeared your sell point last this was discussed....). Some truly crazy stuff going on in the market recently. Lot of money made for those who don’t mind or even enjoy the risk.
 
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Southpaw said:
@neurochica good call with BNGO. Hopefully you held on for the recent ride up (way past 7 which appeared your sell point last this was discussed....). Some truly crazy stuff going on in the market recently. Lot of money made for those who don’t mind or even enjoy the risk.
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bngo will probably be at $15 by EOW. they're the real deal. will be holding onto my shares for a while
 
Southpaw said:
@neurochica good call with BNGO. Hopefully you held on for the recent ride up (way past 7 which appeared your sell point last this was discussed....). Some truly crazy stuff going on in the market recently. Lot of money made for those who don’t mind or even enjoy the risk.
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I did. But where I really made my money was on GME.....twice. It’s been an incredible run this year, up 104% on my account and the month is not over. I bought 10,000 shares of AMC at $4.95, 10,000 shares of EXPR at $3.03 and 10,000 of BIOL at 1.44 for overnight hold, hoping to sell pre-market. Looking good so far.
 
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neurochica said:
I did. But where I really made my money was on GME.....twice. It’s been an incredible run this year, up 104% on my account and the month is not over. I bought 10,000 shares of AMC at $4.95, 10,000 shares of EXPR at $3.03 and 10,000 of BIOL at 1.44 for overnight hold, hoping to sell pre-market. Looking good so far.
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I told you about AMC and EXPR. AMC went from $4.95 to $22 and EXPR to $8 after hour/overnight......not trading today! @Southpaw
 
ThatSerb said:
do you think its too late to get into AMC? when do you think would be a good time to buy?
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Long term? Yes. $25. Chicago announced reopenings. Once the rest of the country does so, it will shoot up.

when to buy? I personally won’t touch it until it hit single digits. They just raised funds/added debt so they are well positioned for the final leg of COVID-19, but is it it’s last leg?

there are better stocks out there with less risk that AMC. GME went from $19 to $375 in a month. I sold 1/4 of my 1000 shares at $89, $148, $135 and this morning at $300.
best
 
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Just out of curiosity, do any of you opt for single stock as opposed to hedgefund or etfs early in your careers?

Risk reward I feel is better in 30's / late 40's to get into a future megacap tech stock as opposed to buying the QQQ and essentially owning tiny portions of all the big stocks.

Ark invest posts their ETF trades every day on their website, its easy enough to follow and they post their research quarterly or yearly. It wouldn't be too hard to follow their ideas/trades, or even pick top stocks from the QQQ with faster growth then lets say MSFT or AAPL. I understand they have been on fire this year but law of big numbers would mean their growth should slow down, but lets say a PYPL or SQ who have a long runway but also pretty big would be a bit riskier but overall better in long run?
 
MasterYi said:
Just out of curiosity, do any of you opt for single stock as opposed to hedgefund or etfs early in your careers?

Risk reward I feel is better in 30's / late 40's to get into a future megacap tech stock as opposed to buying the QQQ and essentially owning tiny portions of all the big stocks.

Ark invest posts their ETF trades every day on their website, its easy enough to follow and they post their research quarterly or yearly. It wouldn't be too hard to follow their ideas/trades, or even pick top stocks from the QQQ with faster growth then lets say MSFT or AAPL. I understand they have been on fire this year but law of big numbers would mean their growth should slow down, but lets say a PYPL or SQ who have a long runway but also pretty big would be a bit riskier but overall better in long run?
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At one point people put all of their retirement into Enron, JC Penney’s, Worldcom, Lehman Brothers, GE, etc thinking these were bulletproof...
 
IMGASMD said:
Sold my bngo
Thanks @neurochica
+$200 (unfortunately, no more 0’s after that)

Now can afford more shares of GME/AMC/NOK/BB !!!
[emoji184] [emoji119] [emoji573]

Thanks again!
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Thats really good! I caught SCKT for 500%+ this morning. Missed the run to $32 but I was not going chase.
I had 2 other stocks on my watch list that popped, but I was too busy managing sckt.
Good luck and all the best.
 
neurochica said:
Thats really good! I caught SCKT for 500%+ this morning. Missed the run to $32 but I was not going chase.
I had 2 other stocks on my watch list that popped, but I was too busy managing sckt.
Good luck and all the best.
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How do you determine when to enter the stocks on your watchlist? OR do you buy all the ones you think might pop
 
neurochica said:
Thats really good! I caught SCKT for 500%+ this morning. Missed the run to $32 but I was not going chase.
I had 2 other stocks on my watch list that popped, but I was too busy managing sckt.
Good luck and all the best.
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? How are you catching all these stocks that just happen to skyrocket? As a resident that's presumably busy with patient care? And how come we don't hear about it before it shoots up?
 
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SCKT was an easy trade this morning. First, it had news- barcode for APPLE iphone 12. This was based on the overnight chart. My exact entry point was as exactly 1 cent over the overnight High. My second entry is usually the previous high of the day, but for this one, I entered as soon it confirmed the bull flag in the 1 minute chart. Both entries, in my opinion are correct. I played 3000 shares both times.
 
GassYous said:
? How are you catching all these stocks that just happen to skyrocket? As a resident that's presumably busy with patient care? And how come we don't hear about it before it shoots up?
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see above, but I had my watch list ready by 8:30 this morning. I was either going to play these 3 stocks, or no stocks at all. It would be supper hard for a resident, other than playing the price action the first 30 minutes. It is a waiting game. Last week, my play didn't happen until 1pm ET. It broke the overnight high, and I entered the trade. When I write my watch list, I write down exactly when I am entering and possibly when I exist. Today I wrote, for SCKT "buy overnight high, pop 3 dollars. obviously it went from $9-$32 so played it until $25 i believe.

FDA approvals usally pops right off the gate, but didnt happend today with GTHX.

My other 2 stocks in my watchlist were SAVA "enter at 51:50 to 53-54 and futu "dont enter unless it pops to $162.50 and look for for $170-$175. It is $189 now. I did not played either one however, as I made a a big chunk with SCKT.....and was busy with sckt.

Good luck and best
 
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GassYous said:
? How are you catching all these stocks that just happen to skyrocket? As a resident that's presumably busy with patient care? And how come we don't hear about it before it shoots up?
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Wait a minute, I might have misunderstood your question- are you asking me to take away time from my research, getting my kids ready for school etc and come here to post my watch list for you?
i don’t shy away from answering questions either here or PM- but I have nothing to prove here or anywhere else. I can post my PL (gains and losses) here daily and it doesn’t change anything. People will say that I am lucky or that it is temporarily etc.
 
neurochica said:
Wait a minute, I might have misunderstood your question- are you asking me to take away time from my research, getting my kids ready for school etc and come here to post my watch list for you?
i don’t shy away from answering questions either here or PM- but I have nothing to prove here or anywhere else. I can post my PL (gains and losses) here daily and it doesn’t change anything. People will say that I am lucky or that it is temporarily etc.
Click to expand...

I don’t mind if you post a daily list. S/Anesthesiabets !!!

[emoji1787]

[emoji573] [emoji119] [emoji184]
 
neurochica said:
Wait a minute, I might have misunderstood your question- are you asking me to take away time from my research, getting my kids ready for school etc and come here to post my watch list for you?
i don’t shy away from answering questions either here or PM- but I have nothing to prove here or anywhere else. I can post my PL (gains and losses) here daily and it doesn’t change anything. People will say that I am lucky or that it is temporarily etc.
Click to expand...

No what you said is exactly what I was looking for. I am just curious how your brain works and what your future moves are. I wasn't buying gamestock but it was very interesting to watch the movements and what people thought.
 
GassYous said:
No what you said is exactly what I was looking for. I am just curious how your brain works and what your future moves are. I wasn't buying gamestock but it was very interesting to watch the movements and what people thought.
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Got it. To answer your question, one of the strategies I use is that I find overnight gappers with news. Then I wait until it breaks the overnight high (sometimes you can anticipate and enter before, but not always a good idea). The hardest question is when to exit. Of course, most stocks won’t ever climb back to the high, they will either consolidate all day or fade to the downside, you let them go. That’s why it is important to try to select the best runners based on history, news etc.
Best
 
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MasterYi said:
Just out of curiosity, do any of you opt for single stock as opposed to hedgefund or etfs early in your careers?

Risk reward I feel is better in 30's / late 40's to get into a future megacap tech stock as opposed to buying the QQQ and essentially owning tiny portions of all the big stocks.

Ark invest posts their ETF trades every day on their website, its easy enough to follow and they post their research quarterly or yearly. It wouldn't be too hard to follow their ideas/trades, or even pick top stocks from the QQQ with faster growth then lets say MSFT or AAPL. I understand they have been on fire this year but law of big numbers would mean their growth should slow down, but lets say a PYPL or SQ who have a long runway but also pretty big would be a bit riskier but overall better in long run?
Click to expand...

The risk of single stocks is they can crash and burn easily.

Some completely go bankrupt. Others drop significantly. Remember General Electric used to sell for $50/share but now is in the 5-10 range now.

Can you make a killing investing in an early tech startup? Sure but how can you differentiate a winner from a loser. Plus, are you going to pour in the necessary capital to potentially make a life changing amount know you could lose just as easily?

Some people in this thread trade on essentially penny stocks and pour in thousands. They claim to be super successful and indicate investing is easy. They may be a savant but I am skeptical in general.
 
I took a small entry position on CNET. This one should pop overnight but I think it’s a good 2 week play with Bitcoin. $4.50-5 target.
 

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GassYous said:
Impressive. Not sarcastic.
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It actually went to $6.56 premarket. I sold at $6. I was hoping for a slow build up to $5 and then load up heavy for the push to $7. Analysts have this at $7 and $12 long term. Already at 52 week high this am.

MICT- I sold at $2.72 pre market.
 
neurochica said:
It actually went to $6.56 premarket. I sold at $6. I was hoping for a slow build up to $5 and then load up heavy for the push to $7. Analysts have this at $7 and $12 long term. Already at 52 week high this am.

MICT- I sold at $2.72 pre market.
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Do US platforms allow commercial access to pre and post markets?
 
neurochica said:
It actually went to $6.56 premarket. I sold at $6. I was hoping for a slow build up to $5 and then load up heavy for the push to $7. Analysts have this at $7 and $12 long term. Already at 52 week high this am.

MICT- I sold at $2.72 pre market.
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Did anyone got in on CNET?
 
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JoelJoel84 said:
Please start a new thread with the daily Neurochica overnight stock picks; 50% gains in a month and we’ll make you a moderator!
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You are going to think I am pulling your leg, but these are my over overnighters from my small robinhood account. Let’s see how it goes.
 

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I've been following your posts neurochica. you are my hero i need, but not the one i deserve.
i've been swing trading for fun with good results but you are on another galaxy
please start twitter page or someone make a sticky thread here!
 
JelloIsJigglin said:
I've been following your posts neurochica. you are my hero i need, but not the one i deserve.
i've been swing trading for fun with good results but you are on another galaxy
please start twitter page or someone make a sticky thread here!
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Thanks Jello...do people really post stock picks on tweeter? I wouldn’t trust anyone with a stock suggestion- I need to do the research myself. But even if you do, by the time someone enters a stock on Twitter, it’s probably to late. Just today, I was watching 2 stocks, by the time i came back from the restroom, they were beyond my entry point. Again, thanks and let me know if I can help in anyway.
 
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