Friend about to make a v. STUPID decision

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If he's after risky shares with a lot of potential then the stock market isn't the place for him.

It will take him 2 years if he's lucky to turn 6k to 10k.

He should look into Angellist and co-invest in startups with a hundred other dreamers.

Less than 2% of startups get past series A but if he does get in on one then he'd have a much better chance of getting a 10x return than the stock market.

Plenty of options to sell private stock in secondary markets.

Minimum timeline is still 6 months though.

50-100k is the ideal amount of money to enter the market with.

No penny stocks
No Binary bullshit
No forex schemes
No futures

Just good ole companies with great names and new ipos with sound strategies and market positions.

People make trading complicated and it's the reason so many are too scared to join the market.
 

Ras

It's all so tiresome
VIP
50-100k is the ideal amount of money to enter the market with.

No penny stocks
No Binary bullshit
No forex schemes
No futures

Just good ole companies with great names and new ipos with sound strategies and market positions.

People make trading complicated and it's the reason so many are too scared to join the market.
Most amateur beginners don't have the patience to hold those types of stocks.

Although trading stocks isn't difficult to get into but some financial literacy would be needed if you want your money back.

The most reliable stocks might not be the best choice if they are heading towards a downturn if it's cyclical.

You don't need to know every aspect of the global economy and it's intricate layers and levers but you need to know the basics to avoid obvious mistakes.

On an unrelated note; can't wait for Somalia and it's regions to setup stock exchanges. At the very least we should catch up with Ethiopia and create a commodity exchange for livestock.
 
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Mohamedali

Sug dee ninyahow
He wants to "play" the stock market.

The past couple of days, he's been telling me he's "read up" on the world of finance. He thinks he's ready to trade stocks and currencies on some trading app. This guy is prepared to use all his savings, around 6k. He works retail. He thinks it's some get rich quick thing.

The idiot won't listen to me, he's adamant he knows what he's doing. I asked him what resources he's been using and he mentioned some vague YouTube videos. He's been at it for 2 months!!! (Learning that is). I have moderate understanding of some aspects of finance (not so much in trading). And playing the stock market has never crossed my mind.

He's not interested in investing, this guy has been throwing around buzzwords like "high-frequency trading". I'm not even joking.

I've been telling him he's making a huge mistake, dude has wax in his ears. This is a really good friend of mine. If it was someone else, I would've told the that it's a bad idea once and left it at that. But I can't bear to see this guy lose his money.

What do I do here?
What doesent kill him makes him stronger
 

ArchBishopofAtheism

Intellectual saqajaan
No pain, no gain, man. If something sounds too good to be true, it is. I once "found" a "trick" to fool online roulette machines so you always win. Long story short, I spent 1,500.00 and ended up winning 80.00. Some good life experience.
 
I never watched YouTube videos or followed some get rich quick trading decks.

Here's 3 simple geeljire way to learn trading.

1. Your stock is your Xoolo.

Before you buy the neef make sure you do a walk around. Look at the legs that hold up the neef, i.e the earnings reports, cash flow. Look at the body I.e what the the company owns and what makes it unique in the market. Look at the neefs face and eyes; I.e where is this neef headed in the next quarter and what are analysis saying about it.

2. Hold your neef.

I purchased shopify in December and I wish I dumped my life savings into it. Sometimes you have to diversity but some company's are long term holds for 8-12 quarters.

3. Invest in an index of neefs.

People make investing complicated period. Invest in an index like a geeljire would invest with another mans herd.


$6K is a decent start. People need to be prepared to lose it all and not panick when slides take place. There aren't many Somalis who invest and ones who are interested seem to always get sucked into these currency and binary trading YouTube videos.

The next time a Somali asks me about forex trading im going to sock umm.

$50-100k kulaha. What kind of hagbad are you in?

Stop selling fake dreams to these skinnies. Stock market might be fun when you're rich enough and have large collateral to gamble. But when you're poor student or a taxi driver gambling your hard earned money at the stock market casino is retarded.

Better to save your money and set up a small business. Become financially literate, learn basic accounting and management and attract investors.
 
high frequency trading huh, he'll have to compete with bots that are faster and better than him.
long term investing is the way to go,and tell him to read real investment books not listening to some Joe on youtube trying to sell him false hopes & scamming ppl.
Tell him to try trading on stock market simulators for at least a month.
If he doesn't listen, then it'll be a lesson for him
 
He should start with crypto
Last week bitcoin was worth 2800, now it's at 3500 and will moon till Christmas
He should start small too, couple hundred maybe
 
$50-100k kulaha. What kind of hagbad are you in?

Stop selling fake dreams to these skinnies. Stock market might be fun when you're rich enough and have large collateral to gamble. But when you're poor student or a taxi driver gambling your hard earned money at the stock market casino is retarded.

Better to save your money and set up a small business. Become financially literate, learn basic accounting and management and attract investors.
You need a minimum 50-100k to live off day trading.

People still buy homes and cars--purchases above the 50-100k mark--and they sit as debt.

You can read all books, all the blogs and watch all the webinars, but if you don't just get on a platform and push the buy button you won't learn nearly as much.

Every financially literate Somali should invest.
 
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