posted on Jul, 8 2020 @ 09:48 PM
I'm starting on the low, low end
of investing. I put $70 into the stock market in mid April for the first time ever, knew nothing about it. I'm
up to around $250-$300 from it right now, depending on how I did that day, from buying and selling different stocks that are having surges or if I
think they're going to be booming later that week. I need less of the painful lessons on the risks of this risky endevour but I'm learning from the
mistakes. If I had put $70 into one company 3 months ago, I doubt I would've gotten so much return unless I had been extremely lucky.
I think it's called short selling and day trading, both of which I've learned are frowned upon by many investors. Considering what I started with and
what I'm doing, I think I'm doing good. Robinhood.. steal from the rich and give to the poor right?
My plan is to withdraw small amounts to my savings regularly so I don't lose too much of it while I'm asleep at 9am one day once I get more buying
power. If I'm ahead by $50 after a couple of days of trading, withdraw half it so that I'm increasing my stock buying power and my "real" money at the
same time (which I never touch except for emergencies of course).
Investing money isn't increasing as fast as it could but my bank statement is looking more secure. If only I can be successful at it for the next few
years, I should be building a little egg for my low income self. Granted, I'll stop the risky trading more as I have more invested. But until then,
this is my masterplan.
If it fails, it's alot of fun and puts "free" money into my pocket.
edit on 8-7-2020 by FlyingSquirrel because: (no reason given)