I got into a penny stock for about 20 minutes and dumped it for $450 and it went back down to where I bought it after the sale, so I bought it back10 k shares
It must be nice to be bored LOL.
*Investors Blog*
- Thread starter Warstud
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It must be nice to be bored LOL.
We gifted each of our boys $2500 at Christmas to put in a Roth IRA. Purchase price of FSELX in early January was in the mid $40's. It closed at >$63 today and they got a capital gain payment in April. Needless to say they weren't impressed about the plan, but it is paying off. I think they both wanted the money straight up. I am trying to help them save for retirement. Young vs old strategy I guess...
Doing the same with our soon to be 16 year old.
I was feelin' pretty cool when my mom gave me one share of Monsanto stock. I hung on to the certificate until Monsanto became something else, and I was forced to sell. Made a 4,200% gain on principal.
Tell me about it...
I never learned to make money, Zee. How do you do it?
One of my Schwab reps told me, "You should make your money work for you at all times, regardless of the market."
Sounds good, anyways...
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I came from a family that told me you can't do this and that and why do you think you can?
Other people do, so why can't I...
I used their negativity to fuel my ambition... I always worked many jobs even as a kid. I grew up around older people and they had those old depression values....the greatest generation... I guess it's a generational thing...
My father's favorite sayings were " if you don't work you don't eat"
He always claimed that if you didn't make it by the time you are 35 years old you never would.
A bunch of that nonsense gave you a sense of urgency....
I told my mother many years ago I was going to do something which I did and for once at 70 years old she told me she was no longer going to doubt me because I always proved her wrong..
My father was a very industrious man of great morals but very brutal at the same time from his harsh upbringing... The man never got a break in life so why should anyone else...
I'd be in bed at night as a kid knowing my time was limited and no sweet dreams as they say...
I knew I was on my own and could be on the street and that was a motivating factor.
Fear has a way of making you grow up fast... but I don't recommend it...
I had a similar experience once I became a lowly programmer analyst for a SEMI company here in The Valley. I was told, "You can't do that", "You should just use SAP", "Contractors worked on that for a year and a half", etc.
I just asked the business leaders, "Can you show me how you do it now?". I simply automated their Excel spreadsheets using Microsoft SQL Server RDMS, Visual Studio and a few other software tools. Why reinvent the world like the others did? Why copy their failures? Let's just say it worked. Golden handcuffs for the win!
Oh yeah, my Dad was not exactly in my corner either.
I totally get that. I was the same. Our parenting phylosophy is to try and improve our kids experience versus riding the struggle bus. Of course we have them on the struggle bus a little so they know what life is like.
That and selling call options. Takes daily shopping almost at the @Zee09 level though.
No one here is perfect but I tend to buy things that pay me AND have options with volume. It takes patience to even have a sale happen at midpoint sometimes. Sometimes I will price at the high and see it sell at open. Currently have nothing beyond June 15 (one) the rest all June 5 or sooner. On average around 80% expire worthless (good if I want to keep the base position). Sometimes sell in the money if I no longer want the position.
I’ve said this before nothing beats low cost time in the market and saving the hugest amount of income possible. Close behind that is interest and dividend compounding ( risk here of course could be loss of principal) - Third is the controllability of selling options. Stock and fund picking is marginally above 50:50 for me.
Just a side note for youth in this thread: don’t get into options in accumulation phase. Selling calls absolutely limits the up side. Major weakness
I got back in and am up
Great in principle.One of my Schwab reps told me, "You should make your money work for you at all times, regardless of the market."
Sounds good, anyways...
Somewhat harder in execution
Exactly my point! That's what separates the winners. Sometimes a smaller loss is the best win out there.
My personal approach is long term balance. Unfortunately I am not sure I know the meaning of the word...
I also pay the Schwab Wealth Advisory to help me. I am smart enough to understand I cannot understand markets and strategies based on current markets as they relate to where I am in my lifecycle and my wishes when I am pushing up daisies.
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I'm with Schwab. The person assigned to my account is no more than I salesman. I ignore him, somewhat to his frustration. I never paid for the Wealth Advisory deal. I guess you think it's worth it (?).
