The Money Mustache Community
Learning, Sharing, and Teaching => Reader Recommendations => Topic started by: gillamnstr on May 13, 2019, 08:05:02 AM
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Hi all-
I've been hearing that my dad (who has made many bad investments previously) and uncle have drunk the kool-aid on Online Trading Academy. I have a newly-crawling 8-month old, so my research has been limited, but they seem to subscribe to the belief that buy and hold is what Wall Street "tells people to do" so they can make the real money doing fast, daily trades.
My completely computer-illiterate dad has bought what I'm told a gaming laptop because it's "really fast", I mean the last time I saw him he still couldn't type. My first instinct is that he'll never beat the server farms of Wall Street with quick trading, which I warned him, and the research he and my uncle need to do to beat the market is pretty insane. I just warned him to treat it like gambling and he basically blew me off. They're whole-hog, so if this is a bad thing all I can do is send some info/reviews.
So does anyone have any knowledge of this, is this really bad?
Appreciations in advance! I love this forum.
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Hi all-
I've been hearing that my dad (who has made many bad investments previously) and uncle have drunk the kool-aid on Online Trading Academy. I have a newly-crawling 8-month old, so my research has been limited, but they seem to subscribe to the belief that buy and hold is what Wall Street "tells people to do" so they can make the real money doing fast, daily trades.
My completely computer-illiterate dad has bought what I'm told a gaming laptop because it's "really fast", I mean the last time I saw him he still couldn't type. My first instinct is that he'll never beat the server farms of Wall Street with quick trading, which I warned him, and the research he and my uncle need to do to beat the market is pretty insane. I just warned him to treat it like gambling and he basically blew me off. They're whole-hog, so if this is a bad thing all I can do is send some info/reviews.
So does anyone have any knowledge of this, is this really bad?
Appreciations in advance! I love this forum.
Yea its bad if he goes ahead an try's it. Basically you said all that you can say and that "treat it like gambling" because your right thats what hes doing. But end of day its his money and you cant force his hand and sounds like you can send him all the information you want till hes blue in the face so let him live it and learn it.