My dad introduced me to investing at a pretty early age. He agreed that he would give me $100 each month after I proved my investment knowledge to him.
He asked me multiple questions about the economy and finance. I passed his test, and he fulfilled his promise. I hope to be grateful for what he has done in the future.
I started investing with an actual custodial brokerage account at the age of 17, receiving $100 every month. I studied the market the best I could at that time. I was trading weekly, making multiple investments per month (20–30) and trying to sell at a profit of 2%. I woke up at 6 am (6:30 was market open) and always looked at chart movement. I was always caught up on any news for stocks and studied from just raw experience. (still do this now)
Right now, as I just turned 18 last month, I have $1320 in my account and am wondering if I should dedicate my money from my internships to “trading weekly” or diversify and lean towards index funds.
My experience with stocks has been ups and downs. I did not allocate and put all my eggs in one basket for multiple trades and allocated over $400 dollars, but then made critical mistakes and lost money during TSLA and NVDA Earnings. I haven't tested options and never will, but I got greedy during the last earnings reports for them and invested 25% of my portfolio in both of the stocks during earnings. I had around $1700 before making these mistakes.
Right now, I am still holding those shares (TSLA has almost recovered), reflecting that I am going to make money from my internships to pursue using that money to trade weekly or open a fidelity account and start investing in index funds like VOO.
You people have more experience than I do, and I'm seeking advice tailored to the future of the account or myself as an investor. Please ask clarifying questions; this is one of my initial posts on reddit, and I probably missed key details.
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