OK, so noobie me used WealthSimple to gamble a few dollars to learn about how the stock market works.
So I bought 36 shares @ .28 cents apiece of some shitty little gold mining company called Argonaut.
Their value shot up to 39 cents yesterday because of news it's being eaten by a slightly bigger fish called Alamos.
Can someone ELI5 what this means?
News release, with stock stuff in it:
I get the sense that I'm about to be winning, but I'm not sure what to do.
Not to scare you off or anything, but if you're a massive noob at this, look up bot trading and pump and dump scams. The fuckers who run the stock market and the types of people who trade as a profession are often dodgy cunts looking to scam small investors like you. If you do get involved in the stock market you need to research into all of this so you can be aware of what's potentially going to be something shady designed to rip off investors versus a real investments.
I've ranted before about how there are companies out there that put out fake job applications and then more closer to home for me with the games industry there's the whole ESG scam. There's all kinds of crap they get up to and you've got to educate yourself on that to even have a hope in hell of making money.
Forex too is another one where there's blatant manipulation going on and the people involved in that get away with it because they cut the government stooges in on the action to one degree or another. Not trying to scare you off from the idea but just be aware of how insanely cutthroat it all is.
Yes, I consider it little better than gambling.
I spread about $50 bucks around, including some doge and shiba coin. Also eth, but it seems to suck.
Also, this is one of the things I kind of have to mess around with to learn.
If you want to just mess around with stock strategy purchases with little risk, I would suggest looking into paper trading. Something like ThinkOrSwim or Investopedia will give you money to 'trade' with and track your portfolio performance for 0 risk.