I’m curious to know, what are good strategies/habits to get into when it comes to investing in stock or crypto? Is it all just pure luck? Or is there a way to have a steady flow of income?

crypto:

find dog coin or funny sounding coin and throw money at it
buy btc and eth and sit on it
???
profit

stonks:
go to wsb, do opposite of what they suggest
look at what stonks politicians buy, throw money at it
???
profit

Thanks Buddy

By the way what is WSB?

Crypto and stocks are just like everything else. The more you educate yourself the better your odds are.
If you want a steady flow of income with minimal effort look into a fidelity mutual fund or something like that which is fairly low risk and you'll get way more gains than if you were to leave money into your bank account
Crypto and stocks you can make a lot more money, but it's definitely more of a risk and everything is dependent on you. With crypto it takes a lot of time learning the different platforms and there's really so much deptth to crypto its insane.



WSB is wall street bets, its where the whole Gamestop, AMC etc manipulation started. It's not very helpful anymore

This post was edited by impulse155 on Nov 4 2021 10:28am

wallstreetbets subreddit

and they actually have good ideas but most of them are yoloing stimulus money into stuff that makes sense ie: tesla, tech stonks, amd, faang, nvidia etc

the meme shit is like amc and gme

decide your time frame and risk tolerance 1st imo and then go from there.

always have a plan.

Take your pay cheque every two weeks and try to put 75% of it into a S&P 500 ETF. Don't deviate regardless if the market is at all time highs or plunging. Just put it in without emotion and keep doing that over and over.

Fully take advantage of any tax advantaged accounts , for instance if you're Canadian your TFSA and RRSP. Potentially RESP if you have a child.

Obviously if you need immediate cash or short term funds for something like a downpayment that is a difference scenario that requires some planning since you dont want to average your investments down if you have to cash out on a market downturn to buy a house.

This post was edited by SBD on Nov 4 2021 11:14am

Buy high sell low

also this