Liberal Forum

Vegas » 18 Dec 2023, 5:18 pm » wrote: ↑

18 Dec 2023, 5:18 pm

Buying a house doesn't suit us. It's just not our style. We like to live simple. We like it that way. 

I think day trading crypto is different from day trading stocks. You are right, day trading stocks is not a good option. I tried it, and it just isn't a great idea. However, crypto is run differently. Yes, it is just as rigged, but the people who rig it tell you which way they are rigging it. So all you have to do is follow their instructions. I have been profiting. It's not even hard.

Day trading works until it doesn't. Then, you get stuck.  I've been there.  I admit, I was not good at day trading.  I even did well with it for some time.  But, then something completely unexpected hits, and you're sunk.  I don't mean you lost everything, just that you find yourself in the red.

On the other hand, every time I've bought good solid companies or funds and hold onto them for a long time, I do very well.

@Fuelman   - do you remember "program traders".  These were people who thought they devised some ultimate algorithmic model that automatically traded a stock within a specified set of criteria.  And, it worked quite well!  Again, until it didn't.  Then it was "OH F-".

The near future is not predictable.  But, the world needs certain things like power, transportation, communication equipment and services, places to house people, drugs, and financial liquidity among others.  There are exceptionally well run, disciplined companies within each of these industries that have proven track records.  You buy THOSE COMPANIES and don't sell them, unless something fundamentally changes. Some Companies that fundamentally changed, or things changed and they failed to change with it:

• Disney
• Word Perfect (Corel)
• Ericsson

 

Vegas » 18 Dec 2023, 5:18 pm » wrote: ↑

18 Dec 2023, 5:18 pm

Buying a house doesn't suit us. It's just not our style. We like to live simple. We like it that way. 

I think day trading crypto is different from day trading stocks. You are right, day trading stocks is not a good option. I tried it, and it just isn't a great idea. However, crypto is run differently. Yes, it is just as rigged, but the people who rig it tell you which way they are rigging it. So all you have to do is follow their instructions. I have been profiting. It's not even hard.

My bad, I could have swore you were complaining about home prices there in Vegas a few months ago and were waiting for that sector to crash so you could buy a home. 

Interesting, the "whales" just let everyone know whats going on and no one ever loses money. I'd be careful on those crypto chat boards!


 

Skans » 18 Dec 2023, 5:49 pm » wrote: ↑

18 Dec 2023, 5:49 pm

Day trading works until it doesn't. Then, you get stuck.  I've been there.  I admit, I was not good at day trading.  I even did well with it for some time.  But, then something completely unexpected hits, and you're sunk.  I don't mean you lost everything, just that you find yourself in the red.

On the other hand, every time I've bought good solid companies or funds and hold onto them for a long time, I do very well.

@Fuelman   - do you remember "program traders".  These were people who thought they devised some ultimate algorithmic model that automatically traded a stock within a specified set of criteria.  And, it worked quite well!  Again, until it didn't.  Then it was "OH F-".

The near future is not predictable.  But, the world needs certain things like power, transportation, communication equipment and services, places to house people, drugs, and financial liquidity among others.  There are exceptionally well run, disciplined companies within each of these industries that have proven track records.  You buy THOSE COMPANIES and don't sell them, unless something fundamentally changes. Some Companies that fundamentally changed, or things changed and they failed to change with it:

• Disney
• Word Perfect (Corel)
• Ericsson

Hopefully Vegas is also doing the same longer term investing along with his inside scoop to the "whales" of crypto.
 

Fuelman » 18 Dec 2023, 6:05 pm » wrote: ↑

18 Dec 2023, 6:05 pm

My bad, I could have swore you were complaining about home prices there in Vegas a few months ago and were waiting for that sector to crash so you could buy a home. 

Interesting, the "whales" just let everyone know whats going on and no one ever loses money. I'd be careful on those crypto chat boards!

I was complaining about it. However, I wasn't going to buy one. I was asking why anyone would want to buy when now instead of waiting until it crashes. 

Vegas » 18 Dec 2023, 7:26 pm » wrote: ↑

18 Dec 2023, 7:26 pm

I was complaining about it. However, I wasn't going to buy one. I was asking why anyone would want to buy when now instead of waiting until it crashes.

    There I go again, making **** up!

It's not easy buying at these levels and prices will continue to go up. Latest numbers I read were 15-25% up over the next 5 years. Home ownership can be a hassle, but it could put up to a $100k in a person's pocket in a short 5 years.

Fuelman » 18 Dec 2023, 7:41 pm » wrote: ↑

18 Dec 2023, 7:41 pm

    There I go again, making **** up!

It's not easy buying at these levels and prices will continue to go up. Latest numbers I read were 15-25% up over the next 5 years. Home ownership can be a hassle, but it could put up to a $100k in a person's pocket in a short 5 years.

I understand why people would get into real estate in general. It makes perfect sense. It's just not for us. Overall, we have been lucky. We have had pretty good landlords. Then again, we are pretty good tenets. We don't cause issues. 

Do you sell homes or rent them?

Vegas » 18 Dec 2023, 7:45 pm » wrote: ↑

18 Dec 2023, 7:45 pm

I understand why people would get into real estate in general. It makes perfect sense. It's just not for us. Overall, we have been lucky. We have had pretty good landlords. Then again, we are pretty good tenets. We don't cause issues. 

Do you sell homes or rent them?

Landlords love good tenants and not easy to come by. 

Do you ever worry about having a secure and safe place to live in retirement? That would probably drive us crazy, too many ways to end up on the street beyond our control. Then there is the revolving door of neighbors who may or may not fit in. Not as bad if renting a house.

No, we don't sell houses or have rentals. Have multiple friends who do and for the most part have been successful. They do have plenty of horror stories though.

I was surprised this stat was so high:
A recent GOBankingRates survey found that 60% of Americans ages 65 and older are currently renting.

After a lifetime of paying rent or a mortgage, it was a good feeling to end that cycle. Our property tax and homeowners insurance is less than $3000/ year. We get a state tax rebate from Colorado that almost covers the property tax. You can live quiet comfortably on SS , getting your ducks in a row before retirement is the hard part.
 

Fuelman » 19 Dec 2023, 11:00 am » wrote: ↑

19 Dec 2023, 11:00 am

Landlords love good tenants and not easy to come by. 

Do you ever worry about having a secure and safe place to live in retirement? That would probably drive us crazy, too many ways to end up on the street beyond our control. Then there is the revolving door of neighbors who may or may not fit in. Not as bad if renting a house.

No, we don't sell houses or have rentals. Have multiple friends who do and for the most part have been successful. They do have plenty of horror stories though.

I was surprised this stat was so high:
A recent GOBankingRates survey found that 60% of Americans ages 65 and older are currently renting.

After a lifetime of paying rent or a mortgage, it was a good feeling to end that cycle. Our property tax and homeowners insurance is less than $3000/ year. We get a state tax rebate from Colorado that almost covers the property tax. You can live quiet comfortably on SS , getting your ducks in a row before retirement is the hard part.

No, we don't worry. If something happens, we just find another rental. No biggie.