Frequently asked questions
We keep track of the most frequently asked questions. If your question is not on the list, please contact us.
Yes! Tykr is the best place to start. In fact, Tykr is not only perfect for beginners but it will also help advanced investors save time.
Tykr is used for investing. Investing allows your money to work for you whereas trading you are still working for money like any other job. Here are more details on the differences between investing and trading. Investing is the strategy of buying stocks that are On Sale and allowing your money to make more money (leverage the power of compound interest). This is a safe, conservative, and passive approach. Click Here to read more details on the differences between investing and trading.
No. Tykr will get you up to speed but you need to think about the 4Ms before buying a stock. Visit the Education page to learn about the 4Ms (MOS, Meaning, Moat, and Management).
Absolutely not. Chris Hogan, (Strategic Business Partner of Dave Ramsey) states that “You can take responsibility, you can be intentional, you can set goals, and you can work hard, but if you don’t do these things repeatedly — year after year, then you’ll never get the results you want.” In other words, you can become a millionaire or even a multi-millionaire from stock investing but it will not happen overnight. You need to make consistent high returns in the stock market to achieve your financial goals.
No. Tykr is a stock screening platform, not a brokerage platform. Tykr will help you find great investments but it’s not the location where you actually invest your money. A broker is a platform where you deposit funds, buy stocks, and sell stocks. To provide more detail, a broker is where you connect your bank account (checking or savings) and make one-time deposits or like most investors, setup a recurring monthly deposit. Visit our brokers page to see the most popular brokers around the globe.
Yes, Tykr has US and non-US stocks from all over the world.
Tykr is pronounced “Ticker”. As in ticker symbols (AAPL, NFLX, and AMZN).
As Warren Buffett has quoted, Rule #1: Don’t lose money. Rule #2: Don’t forget rule #1. What this means is, when you buy an On Sale stock and it goes down lower than your buy price, you do not sell. On Sale stocks have proven to have strong financials and eventually those stocks will go back up. This is the discipline of not worrying and letting great businesses make you money over the long term. Most novice investors lose money because they sell when stocks are down.
That’s up to you! You only need to use it 15 minutes a week to be successful at investing but some investors enjoy spending hours browsing for On Sale stocks they have never heard of before. There are always good deals in the market!
Between 10 and 15. If you own too many stocks, you will end up creating a portfolio that mirrors a mutual fund, index fund, or ETF. It’s okay to own a bundled product but keep in mind that bundled products only generate a 6% to 8% return per year on average. A highly focused portfolio of 10 – 15 stocks will deliver much higher returns.
You shouldn’t think of the number in dollars, you should think of the number in percentages. The question is, what percent of your monthly income can you invest? We typically recommend that you invest between 15% and 30% of your monthly income. Get into the habit of treating your investment portfolio as an essential budgeted line item like your mortgage/rent, cell phone bill, and heating bill. Continuous contribution to your investments is important if you want to retire. If you don’t have a lot of money to start with, that’s okay. In that case, start with $1,000 and go from there.
You shouldn’t think of the term in months or years. That’s a mistake most investors make. When you buy an On Sale stock, you should hold it and keep buying more as long as the stock remains On Sale. As soon as the stock changes from On Sale to Watch or Overpriced is when you should sell or set a trailing stop loss as long as the price is higher than the price you bought it for. Remember, it’s not about “Timing the market”, it’s about “Time in the market”. Buying, holding, and letting compound interest work for you is the key to success.
One of the worst economies in the last 100 years was the 2008 recession. Most people believe the recession lasted years which isn’t true. In 2008, the market went down 38%. In 2009, the market went up 23%. In other words, the recession lasted a year. In your case, if an On Sale stock goes down, let it go down but keep in mind, it won’t stay down for long.
Yes and No. Try to spread your portfolio over 3 – 4 sectors but you want to limit the number of stocks you own. We recommend holding between 10 and 15 stocks. Keeping a focused portfolio will allow you to make much bigger returns in the market.
There are 4 investment strategies.
- Value Stock Investing.
- Growth Stock Investing.
- Dividend Stock Investment.
- Speculative Stock Investing.
Tykr supports value stock investing. This is a low risk conservative strategy of buying and holding stocks for the long term. With value stock investing, you have a high probability of making money. Growth Stock and Speculative Stock investing are high risk. You have a high probability of losing money. Dividend stock investing is the strategy of buying stocks that pay quarterly dividends. You can make some money with dividend stock investing but keep in mind it will take a lot longer than value stock investing.
We like financial advisors. In fact, if you already have an advisor, we recommend you work with both your advisor and use Tykr. Keep in mind, a financial advisor’s job is not to find great investments or build your wealth. Their job is to protect your wealth. They will also help you with budgeting, removing debt, planning for large purchases like a house or child’s education, obtaining life insurance, etc. A financial advisor also manages a lot of clients at once so finding individual stock picks for each client is extremely time-consuming. This is why financial advisors typically put everyone in Mutual Funds, Index Funds, and ETFs. In other words, they put customers in bundles of stocks and bonds that return, on average, 6% – 8% per year. That percentage will help you retire in your 60s or 70s. On the other hand, Tykr helps you find stocks that return more than 15% per year which can significantly reduce your retirement timeline.
The average savings account earns .1%. The average annual inflation rate is 3.22%. In other words, your cash is losing 3% value every year. This is one reason why people don’t reach financial goals and don’t retire. If you feel like you take one step forward but two steps backward, this is one reason why.