Although many years ago, a teenage friend of my son explained to me that everything you do is a gamble!
That was a thought provoking statement.
I rationalized it to mean that some things you can study and plan but still you don’t know the result. So it wasn’t really relying on “luck”.
Like selling an article that I’ve written.
So now comes the internet and the stories of “day trading”.
I’ve heard how people have lost their entire retirement
funds or gone out and shot up the neighborhood or something when Day Trading.
And although my husband Paul has been involved in stocks, he did not approve of my getting online and investing.
He mentioned “greed” and “losing” and so on.
But since I wasn’t using the “rent money” I figured I would have a try.
One morning a couple of weeks ago, while Paul was busy elsewhere on the farm, I calculated what I would do. I didn’t actually go online because I wasn’t sure how to do it! But two hours later I was going nuts because I figured I could have made $2500 by that time!
So I got Paul and he advised me how to buy and sell online. It looked like I got a couple of chances to cancel before my trade would be final. Paul went outside to use the tractor to clean corrals.
But I “accidentally” sold my stock before I knew it! I was almost in tears I was so excited! And scared.
Then the stock started falling.
Towards the end of the day I bought back all my shares.
I now had some extra money and the shares.
Paul came in the house and reminded me that if I had a loss and sold within 30 days I could not take a capital gains loss. I responded, “What loss? I’m gonna lose?”
What a day!
Paul checked the chart of the stock’s prices that day and on my first day of Day Trading I had sold at the high and bought back at the low!
I could hardly wait until the next day.
Since I don’t like to just sit in front of the computer and wait for stock prices to change, I use it as a challenge. I still have other things to get done!
I check the stocks. Then I make the bed.
Then I check the stocks. Then I head to clean the bathroom.
Then I check the stocks. Then I dash to the kitchen and wash up the dishes.
It would be harder if the weather were nice and I’m out cleaning corrals though.
My second day of “Day Trading” came and I watched my stock keep going “south”. Hmmmm. There went my profit from the day before.
And the next day it went down further. (Remember, this was not the rent money.)
It got quite a bit lower and I considered buying some more. I didn’t.
But I wish I had because a couple of days ago, Paul did!
So I learned alot on my first attempt at online trading.
And although my stock kept going down, I had the cleanest house I’ve had in years!