You need to know that I have been a long-term, buy and hold investor for almost forty years. Back when I started out in the mid ‘70’s I did some short term trading, including some on margin.
Then one time I got a margin call. It didn’t take but once to realize that wasn’t for me, and that my strategy needed to change. “Get rich quick” was entirely too risky.
So any opinions I have will reflect that worldview.
I'm 73 years old so long-term has no appeal; somebody else or nobody will get the benefit of it. I don't want to think about why that matters right now but it does.
I wish I had a mind for some of the more complicated plays. But you have the right idea and have a sensible approach to investing.
Get rich quick. The real thing that appealed to me about playing around day and swing trading was that I pretended that my life depended on it and I was doing real work. I never was worth anything when I worked. When I would make a modest gain sometimes in an hour or less most traders wouldn't bother with, it made me feel like I had accomplished something after all.
I lost money, too, but my first and only year of it I had a very modest net gain. Now I am afraid to jump in again as I struggled to get where I am which could have been a whole lot better like those couples who call Bob Brinker but my life fell apart financially actually before and when I was divorced. I never had a 401K or anything like what those people do. A few are single and give him the credit for teaching them how to invest their money. But I think they were part of a generation that had more external forces in their favor than now, could be wrong about that.