Nightly Topic Post. I'm a little late in posting tonight as I got caught up with things tonight. Last night I mentioned that I would be posting a little more personal post and not really anything on a specific topic. Here it goes.
For many years when I started investing in Pennies and Nas and Dow Stocks (back in 2000 and even a few years prior) I was very new to the game. I searched out Boards. I tried to read all I could. I was a product of the "Dot com" era when any and every stock was rising hundreds of percents. We used to joke in my Office how we could close our Eyes and buy/invest in anything and it would gain. That was reality back then literally. IPO's (Initial Public Offerings) were ablaze and would 4-5 times themselves on their 1st day guaranteed. I did very well in my 1st year or so and being younger I was elated. Then I got greedy. I would trade on margin. I would take $ from my home equity loan and throw it in the market. Disaster set in back in 2004/5. I ended up losing out huge with those tactics and I'm not afraid to say so. The overall Markets crashed. I was devastated. I thought there was no way I could ever recoup what I was down at the time and make it back. I was literally down some 60k back then just a couple years after doing very well in the 1st couple years.
I then took a short time off from investing and thought things over. My first thing I found I was doing wrong was buying into stocks based on Board Posts. That all worked out well when there were no worries in the early years when everything would double in a Heartbeat. BUT, I learned very quickly that was my biggest downfall. I changed things around. Board Posts were no longer a way for me to make investments. I decided to not hold anything in Pennyland long term unless I truly believed in it. I learned that no matter what a company PR's one should never believe it. I've learned alot over the years. I have since recouped most of my losses back thru being realistic.
OK, you may ask where am I going with this. Back in January I decided to create the Newbies Board. I thought to myself that there might be other people like myself from my earlier years that are now just starting out and thought it would be a good idea to start such a Board to offer advice based on my past experiences. I did just that. For months or so noone showed up. I remember checking the Board nightly with no new posters other than just me and then people showed up and here we are tonight.
Last night I saw several Posters ask me if a specific Penny was legit? Those two Posters had done solid DD and believed that the company was A OK. Another Poster asked me on a specific Penny as to hold or not. Yet another Poster PM'ed me and asked if a PR put out yesterday was legit.
What I am saying is that we are all here to make money. We all read many things thru the day. Many of us believed and buy in on many of these Pennies each day. Many think that things look solid with a particular Penny Company. Solid or not; take a gain when you have one.
I can't emphasize enough in that when one has a gain on any Penny to take it and move to the next. We all get caught in the "Greed Trap" and that is what hurts most of us. I think most can relate. Guys, there are so many Penny Plays out there that when you have a gain I say take it. Small gains here and there all add up in the end and there is no greater feeling after selling than to know that you have made money.
Lastly, some of you may feel that based on your losses that you are at the end and can't recoup your losses back. Many feel that you may not have enough $ in your account to do it. I say this. One may have $100.00 left in their trading account but that can easily be built back to $1000.00 if you do things right and from there to $2000.00. It can be done! I did it many times. I did it after being devastated from losses. It takes time, patience and discipline. If you are one of those that is down to a low balance in your account I say take the $75.00 gain here and there and do it a few times and it will add up.
Alright, I've rambled long enough. I hope this makes sense and do not lose faith that you might be down right now. Stay the course. Have a great night.
