While on vacation, i was asked on several occasions concerning my portfolio. Simply stating 100% of my portfolio is pennystocks, i received chuckles, eye rolls, and many reasons why pennystocks are 'not investing', 'never work', and arent 'real investments' (not from my buddies, but from people i didnt know).
ive always been interested in human behavior, and noticed that each person who told me pennystocks were 'bad', all swirled their wine glasses while laughing; almost as if they believed they were better than me.
pulling out my OWCP card (among other stocks), I turned the question around to them and asked, "if pennystocks are so bad, why does my brokerage account have well over $1 million?"
as predicted, they laughed it off. ive never been one to hang with snooty people and truly believe the hard working, up at 5am in order to provide for their family, men and women, who do back breaking work are the real heroes.
look, most pennystocks are crap. lets be honest. most boards are filled with bashers. the majority of investors will never make a dime; reasons for this are found in other posts of mine. but the point to this blabbering post is simply this:
1. if you still havent made a profit this year, either figure out what youre doing wrong and fix it, or stop investing. doing the same thing over and over, investing money you dont have, and then losing it all is not investing; thats called stupidity.
2. if you dont know what youre doing wrong, find out. if you think youre going to make a million bucks in profit someday, yet refuse to sell when one of your stocks show $10,000 profit.. youll never make a million. how will you have the resolve and guts to sell at a million if youre not willing to sell at $10,000???
3. Things you could be doing wrong:
a. listening to bashers
b. youre not serious. if youre in these boards to only have fun and be social.. you wont make a dime.
c. youre investing more than you can afford to lose.
d. you invest in the wrong stocks
e. you invest in stocks because others do it.
f. you dont know when to sell
g. you refuse to sell
h. youre scared to sell because you think it 'may go higher', and then once you do sell and it does go higher, you blame everyone else but yourself.
i. you still havent talked to an investment professional. you need to hear the words, "Dont invest in pennystocks" in order to really understand how serious investing is; this is real money you can lose.
j. you refuse to learn how to invest. you have no idea what MM's are, you could care less about SEC filings, and you have no idea what SEC even means.
k. you have no idea how to read a candle chart. you depend on others to do it for you.
If you still havent made profits this year, stop what youre doing, focus on what youre doing, figure out what youre doing wrong.. and fix it. Make $1 profit after tax this year. start SMALL. know what it feels like to make $1. it feels great. then.. go for $10. then $100... etc.
Your goal for this year is to make $1 profit after tax. then take that $1, put it in a quart zip-loc bag, and hang it on your wall. Write the word, "Mine." with a sharpie on the bag. you need to physically see that investing is possible. profits are possible. your biggest mistake may be simply that you do not believe you can do it.
Not investment advice
ive always been interested in human behavior, and noticed that each person who told me pennystocks were 'bad', all swirled their wine glasses while laughing; almost as if they believed they were better than me.
pulling out my OWCP card (among other stocks), I turned the question around to them and asked, "if pennystocks are so bad, why does my brokerage account have well over $1 million?"
as predicted, they laughed it off. ive never been one to hang with snooty people and truly believe the hard working, up at 5am in order to provide for their family, men and women, who do back breaking work are the real heroes.
look, most pennystocks are crap. lets be honest. most boards are filled with bashers. the majority of investors will never make a dime; reasons for this are found in other posts of mine. but the point to this blabbering post is simply this:
1. if you still havent made a profit this year, either figure out what youre doing wrong and fix it, or stop investing. doing the same thing over and over, investing money you dont have, and then losing it all is not investing; thats called stupidity.
2. if you dont know what youre doing wrong, find out. if you think youre going to make a million bucks in profit someday, yet refuse to sell when one of your stocks show $10,000 profit.. youll never make a million. how will you have the resolve and guts to sell at a million if youre not willing to sell at $10,000???
3. Things you could be doing wrong:
a. listening to bashers
b. youre not serious. if youre in these boards to only have fun and be social.. you wont make a dime.
c. youre investing more than you can afford to lose.
d. you invest in the wrong stocks
e. you invest in stocks because others do it.
f. you dont know when to sell
g. you refuse to sell
h. youre scared to sell because you think it 'may go higher', and then once you do sell and it does go higher, you blame everyone else but yourself.
i. you still havent talked to an investment professional. you need to hear the words, "Dont invest in pennystocks" in order to really understand how serious investing is; this is real money you can lose.
j. you refuse to learn how to invest. you have no idea what MM's are, you could care less about SEC filings, and you have no idea what SEC even means.
k. you have no idea how to read a candle chart. you depend on others to do it for you.
If you still havent made profits this year, stop what youre doing, focus on what youre doing, figure out what youre doing wrong.. and fix it. Make $1 profit after tax this year. start SMALL. know what it feels like to make $1. it feels great. then.. go for $10. then $100... etc.
Your goal for this year is to make $1 profit after tax. then take that $1, put it in a quart zip-loc bag, and hang it on your wall. Write the word, "Mine." with a sharpie on the bag. you need to physically see that investing is possible. profits are possible. your biggest mistake may be simply that you do not believe you can do it.
Not investment advice
2
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I am NOT a professional.
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My posts are NOT investment advice. I am not paid to post.
There is no correlation between the number of posts I write per day and your assumed success of a company.
It is NOT my responsibility to inform you of my own personal investment decisions.
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The writer of the above post accepts no liability for any damage or loss, however caused, in connection with the use of or reliance on any information, material, products, or services contained on or accessed through any such linked websites.
There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
http://investorshangout.com/Joeys-Investment-Board-91611/
Invite Only
There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
Disclaimer:
As used herein, the terms "You" and "Your" shall mean you, individually, the reader, and each other party on whose behalf you may use the contained information at any time.
All references to "My", "I", and “The writer of the above post” shall refer to the creator of the username Joey68.
Do NOT invest unless you are prepared to sustain a total loss of the money you have invested plus any commission or other transaction charges.
There is a very high degree of risk involved in trading and investing. Past results are not indicative of future returns. I assume no responsibility for your trading and investment results. You should NOT rely on the information in the above post to make any decision or take any action.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are OPINION and NOT fact and are for entertainment purposes only. Do your own research and make your own decisions based on your own conclusions.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are NOT advice, and are NOT designed to substitute the expertise and judgment of a professional. It is your responsibility to seek investment advice during all stages of your investments. It is your responsibility to evaluate the accuracy, completeness and usefulness of the information in the above post.
I am NOT a professional.
I do NOT work for you.
My posts are NOT investment advice. I am not paid to post.
There is no correlation between the number of posts I write per day and your assumed success of a company.
It is NOT my responsibility to inform you of my own personal investment decisions.
It is NOT my responsibility to inform you when it is time for you to buy, hold, and/or sell a position.
I have no control over, and am not responsible for the actions of others who copy, store, edit, change, prepare any derivative work of or alter in any way any of the content provided in my posts.
Errors and Omissions expected. The writer of the above post accepts no liability or responsibility for any errors or omissions contained in the above post or contained within this Disclaimer.
The writer of the above post shall NOT accept any liability for the accuracy or completeness of the information contained in the above post, for any reliance placed by any person on the information contained in the above post, or for any damage or loss, however caused, in connection with the use or reliance on any information contained in the above post.
The above post may contain links to websites owned and operated by third parties. These links are provided for informational purposes only and are NOT endorsed by the writer of the above post. The writer of the above post has no control over the contents of any linked website and bears no responsibility for the accuracy, legality, or content of the external site or for that of subsequent links.
YOU ACCESS ALL LINKS ENTIRELY AT YOUR OWN RISK.
The writer of the above post makes no warranties or representations, express or implied about such linked websites, the third parties they are owned and operated by, or the information contained on these websites.
The writer of the above post accepts no liability for any damage or loss, however caused, in connection with the use of or reliance on any information, material, products, or services contained on or accessed through any such linked websites.
There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
