Beginner seeking legal advice

Discussion in 'Ask any question!' started by Ian Teetsel, Jun 3, 2020.

  1. Ian Teetsel

    Ian Teetsel New Member

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    So I'm just beginning to trade seriously in the stock market, and I had an idea but I'm not sure it's legal and I wanted to check with someone better versed in stock law before I do something that's going to land me in jail.

    I've been collecting stocks with my paychecks (the type isn't relevant here) to ride the market up with once it recovers from the COVID and the riots. I wanted to, once I sell it, invest all of it in a penny stock, wait a few days, and sell it all again, rinse and repeat until I can afford to escape from my job in food service.

    Is this illegal, or just kind of sketchy?
     
  2. T0rm3nted

    T0rm3nted Moderator
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    There's nothing illegal about swing trading. However, you're more likely to lose it all gambling on an all-in than you are to escape from fast food service. In fact, I'll pretty much guarantee if that is your plan, you will be working in fast food service or something similar much longer.
     
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  3. Ian Teetsel

    Ian Teetsel New Member

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    Thank you very much for your advice, both legal and otherwise. Fortunately, I'm not stupid enough to invest more than I can afford to lose; I'm only investing about $100-200 per paycheck at this time, since I'm aware there's no guarantee I'll get any of it back by selling. The idea was to invest only what I already had invested once I start my penny stock trading, something I can do easily via the app I use.
     

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