Investing

Official Penny Stock Day Trade / Short Term

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Deal Addict
Dec 23, 2006
1644 posts
316 upvotes
im down like 50% on UGE as i bought at bought deal pricing around $2.60 - fml lol

side note - anyone use advanced dashboard from TD?
Seems like i meet the minimum to get it for free as its 30 trades per rolling 3 months
would love level 2 data
Sr. Member
Apr 8, 2001
998 posts
854 upvotes
The long winded message is I have had my son counting money, saving, working since he was 2.5. At 2.5, he was responsible for taking the recycling out. I gave him $1.50 a week in different denominations that he had to count out $0.50 (this took over 2 years to get with regularity). Then he had to split the money into 3 jars: Savings, Education/Sports, and money he could spend.

Until he turned 8 this year, he got his money weekly and in tiny sums. This was to teach him to save for anything he wanted, and to never "borrow". Now I give him a lump sum $8 a month (x 3) for each of his jars. Now his learning is about budgeting.

The spend is whatever he wants, I don't care, he can deal with the consequences when he has no money.

The Sports/education are for extras. I pay for his martial arts classes, uniform, tournaments, he wants a private lesson to get ahead, he pays 20% of the class. He wants a tournament T-shirt because he won, he buys it out of that jar. He wanted to play soccer, I paid for the course and cleats, he paid for the shin guards and Soccer Socks. Kids need to be invested in what they want, else they won't care if they lose it.

The savings is a truly savings jar. Every 3 months or so I take him to the bank, and he empties his savings jar into the bank. Because he doesn't collect interest any more, I give him 50% bonus as a second deposit for whatever he puts in each time (up to $100). This is to show him compounding interest and savings.

I actually save his RESP money for him, he doesn't touch it, it's mostly ETFs and mutual funds, but his first stock was ROBLOX because he wanted it and we talked about an IPO, etc...I can tell he wasn't really paying attention and didn't care much, but I sure got a giggle when I heard him tell his friends he owns a piece of the company Roblox and one day he might own more of it. Investment teaches him risk and it's fun to show him the graphs of the stocks going up and down and his RESP value. Showing him regularly, let's him see the risk of investing as much as it teaches them they can make money, but they can also lose.

I want to encourage financial literacy with my son, I encourage saving, spending, and everything around it. Last year he asked if he could move money he wasn't using from his "Education/Sports and spending" jars into the savings since there have been no sports and he hasn't been to the store with the pandemic. I said of course! He wanted to know if I would still give him that "bonus", I said yes, as long as you remember you can't withdraw the money until you're 18.

There are a million things we can teach our kids, I'm just scraping the surface with what I think is important. I always say, my son is going to act like a 35y/o when he's 12 because he's learning so much. But I'll never complain if he keeps asking questions and wanting to learn, about anything.
drich77 wrote: @JetLi

I liked your point about teaching your kids to invest lol. I’ve done the same with roblox and HERO (gaming ETF)
Printed off the “certificate” from wealthsimple and it’s up in the kids rooms and is always a conversation piece when we talk money and investing.

Need to move the RESP to self directed - who do you use? Those two are in my tfsa as part of my “teachable moment” lol

I’m loaded up on CHR, LAC, MVIS, CIDM, ETHX.B, Galaxy, JK and SCR

I’m scratching my head at wtf I was thinking with my bag holds - CWRK, NDA, UGE, DGMI, FORT

Hope everyone has a great weekend and that June isn’t as brutal as so many of us think it will be!!
[QUOTE]Most of the things worth doing in this world, have been declared impossible before they were done.[/QUOTE]

Heatware: JetLi
Sr. Member
Apr 23, 2017
826 posts
453 upvotes
JetLi wrote: The long winded message is I have had my son counting money, saving, working since he was 2.5. At 2.5, he was responsible for taking the recycling out. I gave him $1.50 a week in different denominations that he had to count out $0.50 (this took over 2 years to get with regularity). Then he had to split the money into 3 jars: Savings, Education/Sports, and money he could spend.

Until he turned 8 this year, he got his money weekly and in tiny sums. This was to teach him to save for anything he wanted, and to never "borrow". Now I give him a lump sum $8 a month (x 3) for each of his jars. Now his learning is about budgeting.

The spend is whatever he wants, I don't care, he can deal with the consequences when he has no money.

The Sports/education are for extras. I pay for his martial arts classes, uniform, tournaments, he wants a private lesson to get ahead, he pays 20% of the class. He wants a tournament T-shirt because he won, he buys it out of that jar. He wanted to play soccer, I paid for the course and cleats, he paid for the shin guards and Soccer Socks. Kids need to be invested in what they want, else they won't care if they lose it.

The savings is a truly savings jar. Every 3 months or so I take him to the bank, and he empties his savings jar into the bank. Because he doesn't collect interest any more, I give him 50% bonus as a second deposit for whatever he puts in each time (up to $100). This is to show him compounding interest and savings.

I actually save his RESP money for him, he doesn't touch it, it's mostly ETFs and mutual funds, but his first stock was ROBLOX because he wanted it and we talked about an IPO, etc...I can tell he wasn't really paying attention and didn't care much, but I sure got a giggle when I heard him tell his friends he owns a piece of the company Roblox and one day he might own more of it. Investment teaches him risk and it's fun to show him the graphs of the stocks going up and down and his RESP value. Showing him regularly, let's him see the risk of investing as much as it teaches them they can make money, but they can also lose.

I want to encourage financial literacy with my son, I encourage saving, spending, and everything around it. Last year he asked if he could move money he wasn't using from his "Education/Sports and spending" jars into the savings since there have been no sports and he hasn't been to the store with the pandemic. I said of course! He wanted to know if I would still give him that "bonus", I said yes, as long as you remember you can't withdraw the money until you're 18.

There are a million things we can teach our kids, I'm just scraping the surface with what I think is important. I always say, my son is going to act like a 35y/o when he's 12 because he's learning so much. But I'll never complain if he keeps asking questions and wanting to learn, about anything.
I don't know you, but you've earned my respect! This post needs to be pinned or starred for future reference. I definitely will use some tips from here for my daughter who's going to be 4 this July. thx for sharing!
Information is wealth, but again, depends on what you're pursuing & what it's worth to you😎💡
Sr. Member
Apr 8, 2001
998 posts
854 upvotes
Right or wrong, I am just playing it ear. I am sure I will screw it up, like every parent. But even if he only learns from my mistakes, that's cool too!
yugsekwaf wrote: I don't know you, but you've earned my respect! This post needs to be pinned or starred for future reference. I definitely will use some tips from here for my daughter who's going to be 4 this July. thx for sharing!
[QUOTE]Most of the things worth doing in this world, have been declared impossible before they were done.[/QUOTE]

Heatware: JetLi
Member
Sep 20, 2010
384 posts
349 upvotes
Hamilton
JetLi wrote: The long winded message is I have had my son counting money, saving, working since he was 2.5. At 2.5, he was responsible for taking the recycling out. I gave him $1.50 a week in different denominations that he had to count out $0.50 (this took over 2 years to get with regularity). Then he had to split the money into 3 jars: Savings, Education/Sports, and money he could spend.

Until he turned 8 this year, he got his money weekly and in tiny sums. This was to teach him to save for anything he wanted, and to never "borrow". Now I give him a lump sum $8 a month (x 3) for each of his jars. Now his learning is about budgeting.

The spend is whatever he wants, I don't care, he can deal with the consequences when he has no money.

The Sports/education are for extras. I pay for his martial arts classes, uniform, tournaments, he wants a private lesson to get ahead, he pays 20% of the class. He wants a tournament T-shirt because he won, he buys it out of that jar. He wanted to play soccer, I paid for the course and cleats, he paid for the shin guards and Soccer Socks. Kids need to be invested in what they want, else they won't care if they lose it.

The savings is a truly savings jar. Every 3 months or so I take him to the bank, and he empties his savings jar into the bank. Because he doesn't collect interest any more, I give him 50% bonus as a second deposit for whatever he puts in each time (up to $100). This is to show him compounding interest and savings.

I actually save his RESP money for him, he doesn't touch it, it's mostly ETFs and mutual funds, but his first stock was ROBLOX because he wanted it and we talked about an IPO, etc...I can tell he wasn't really paying attention and didn't care much, but I sure got a giggle when I heard him tell his friends he owns a piece of the company Roblox and one day he might own more of it. Investment teaches him risk and it's fun to show him the graphs of the stocks going up and down and his RESP value. Showing him regularly, let's him see the risk of investing as much as it teaches them they can make money, but they can also lose.

I want to encourage financial literacy with my son, I encourage saving, spending, and everything around it. Last year he asked if he could move money he wasn't using from his "Education/Sports and spending" jars into the savings since there have been no sports and he hasn't been to the store with the pandemic. I said of course! He wanted to know if I would still give him that "bonus", I said yes, as long as you remember you can't withdraw the money until you're 18.

There are a million things we can teach our kids, I'm just scraping the surface with what I think is important. I always say, my son is going to act like a 35y/o when he's 12 because he's learning so much. But I'll never complain if he keeps asking questions and wanting to learn, about anything.

This made my day.
[OP]
Deal Guru
User avatar
Sep 21, 2007
10615 posts
8606 upvotes
Winnipeg
Welp.. I getting to get some white claws tonight. Have a good weekend fellas Face With Stuck-out Tongue And Winking Eye
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
[OP]
Deal Guru
User avatar
Sep 21, 2007
10615 posts
8606 upvotes
Winnipeg
JetLi wrote: Right or wrong, I am just playing it ear. I am sure I will screw it up, like every parent. But even if he only learns from my mistakes, that's cool too!
I like your point on being investing in things yourself and you will succeed more. When I got into university I had my tuition paid for in the first year. I didn't do so well. Figured out what I wanted to do and paid for it all myself and ended up getting A's and A+'s. But honestly, your child is going to become very off by the way you're teaching him, not just financially but overall life.
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
Deal Addict
Apr 18, 2017
1046 posts
911 upvotes
Toronto
Anyone else see this, glitch?

Edit: now it shows it’s back to $82.
Images
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Deal Fanatic
May 22, 2003
8163 posts
5037 upvotes
Vancouver
o1Jeff wrote: im down like 50% on UGE as i bought at bought deal pricing around $2.60 - fml lol

side note - anyone use advanced dashboard from TD?
Seems like i meet the minimum to get it for free as its 30 trades per rolling 3 months
would love level 2 data
I'm almost as bad, I have 5k shares @$2.30.

I should really stay away from small caps, my boring, normal portfolio has done really well with no maintenance/heart-wrenching drops. But small caps are like crack, even though more than 50% of them have ended up losers, I get the occasional big winner that makes up for the losers (e.g. CTS.TO I bought at avg of $1.17)
[OP]
Deal Guru
User avatar
Sep 21, 2007
10615 posts
8606 upvotes
Winnipeg
notenoughsleep wrote: I'm almost as bad, I have 5k shares @$2.30.

I should really stay away from small caps, my boring, normal portfolio has done really well with no maintenance/heart-wrenching drops. But small caps are like crack, even though more than 50% of them have ended up losers, I get the occasional big winner that makes up for the losers (e.g. CTS.TO I bought at avg of $1.17)
I've said this before. If youre' down like that.. Don't just sit there and wait.. You gotta scalp it. break even price is $2.30. Buy in increments. I would do 10% of your original share holding. So right now I would buy 500 at the price right now and automatically sell at 10% until met. It will bring your average down slowly. I did that with FORT.. sucked but you have to because even $.01 is like 2%.. 3 cent move alone is 6% lol. I had to scalp so much around the $.38-.39 range.
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
Deal Addict
Feb 28, 2006
3878 posts
454 upvotes
Toronto
i dont think you guys should give up on uge yet. lots of insiders were buying back in dec 2020 @ over $2
...
Deal Addict
Apr 13, 2006
4384 posts
480 upvotes
A few long term LAC investors in here, came across this podcast that was released today. Since I'm long as well, I should probably get more familiar with what I'm invested in :P
https://podcasts.apple.com/us/podcast/t ... 0523394181

Alexi Zawadzki is the President of North American Operations for Lithium Americas (LAC). He is currently leading the effort to bring Thacker Pass into production by mid decade.
In this episode we discuss the resource (type and size), the current status of the project including pilot plant operations, LAC's commitment to sustainable project development, innovative mining and reclamation techniques, planned use of renewable energy and desire to minimize the impact to the environment.

Thacker Pass will be the first world class lithium resource to be brought online in the US in this century.
Questrade | Crypto.com | BlockFi | Public Mobile
Sr. Member
Sep 29, 2007
725 posts
229 upvotes
o1Jeff wrote: im down like 50% on UGE as i bought at bought deal pricing around $2.60 - fml lol

side note - anyone use advanced dashboard from TD?
Seems like i meet the minimum to get it for free as its 30 trades per rolling 3 months
would love level 2 data
Uggghh, what a disaster. Never mess with penny stocks but bought this hoping for a 20 bagger lol. They had to restate financials, backlog down, CEO mentioned getting rid of under-performers in the conference call. Just a complete mess. i'm out. I should have listened to my gut....they are focused on some states in the US and then bizarrely in Philippines which they don't ever clearly explain. Zero synergies there....maybe he has a mistress there.
Sr. Member
Apr 8, 2001
998 posts
854 upvotes
Same here. I had a small scholarship, my parents paid the rest for my first year. Even though I had a part time job done I was 14, I didn't have enough to finish my degree. My parents had to help 2 younger siblings after me, while my grades weren't bad, I clearly didn't work as hard as I should have. I spent my last year and a half on a $425/month budget because I was running out of money. My rent was $300/month. I had $125 a month for food and transit. $25/week for food isn't much, I ate a lot of discount food, clearance meat, and was hungry, although never starving, periodically. I learned more when I didn't have anything than when I did. I hope my son never has to go without, at the same time I want him to be able to learn. I am doing it all by ear, I change my plans and explanation or the requirements all the time, but I don't want to break his trust. So I constantly say things, "this is the last time today if you get it right". I don't want to say "again" or "one more time" over and over again. I try to set goals and achievements for him. I don't know how bad I will screw him up, and I honestly tell him this. I am doing the best I can with what I know and what I am trying to achieve, but it's all new to me, but be patient with us (my wife included) and we will try to be patient with you.

Sorry @faken , I didn't mean to hijack this thread for this. But I am passionate about giving the next generation as much as we can.
faken wrote: I like your point on being investing in things yourself and you will succeed more. When I got into university I had my tuition paid for in the first year. I didn't do so well. Figured out what I wanted to do and paid for it all myself and ended up getting A's and A+'s. But honestly, your child is going to become very off by the way you're teaching him, not just financially but overall life.
[QUOTE]Most of the things worth doing in this world, have been declared impossible before they were done.[/QUOTE]

Heatware: JetLi
[OP]
Deal Guru
User avatar
Sep 21, 2007
10615 posts
8606 upvotes
Winnipeg
It's ok @JetLi. Even some adults need a reminder on how to budget. Thumbs Up Sign
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
Newbie
Jan 3, 2012
75 posts
159 upvotes
Toronto-wa
Well said @JetLi

It’s important to have the big picture in mind - I work in education and financial literacy skills have certainly been lacking for decades now at least. Gotta teach kids these important life skills and someone has to do it!

That’s the beauty of this thread - don’t feel bad hijacking it lol. It says A LOT that your earlier post has the most likes in quite some time. Your message resonates with many of us, much respect.

We go from discussing literally penny stocks to long term holds to life challenges and even some of our “favorite” posters general ineptitude, so it’s all good in this thread lol

Have a great weekend everyone! US markets closed Monday so enjoy a semi day off!
Sr. Member
Apr 8, 2001
998 posts
854 upvotes
Thanks guys. I give my parents 200% credit. Where they may have failed to put things into words, they did teach me how to save (by forcing me), memories of depositing that $36-60 paper route cheque at the bank each month and watching the balance grow, etc... It took me a long time to realize the tools my parents gave me. I am trying to pass them on.
faken wrote: It's ok @JetLi. Even some adults need a reminder on how to budget. Thumbs Up Sign
drich77 wrote: Well said @JetLi

It’s important to have the big picture in mind - I work in education and financial literacy skills have certainly been lacking for decades now at least. Gotta teach kids these important life skills and someone has to do it!

That’s the beauty of this thread - don’t feel bad hijacking it lol. It says A LOT that your earlier post has the most likes in quite some time. Your message resonates with many of us, much respect.

We go from discussing literally penny stocks to long term holds to life challenges and even some of our “favorite” posters general ineptitude, so it’s all good in this thread lol

Have a great weekend everyone! US markets closed Monday so enjoy a semi day off!
[QUOTE]Most of the things worth doing in this world, have been declared impossible before they were done.[/QUOTE]

Heatware: JetLi
Deal Addict
Jun 27, 2006
2229 posts
822 upvotes
Toronto
I always like Jet Li but I like this JetLi more. Thanks for sharing.

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