I'm so speculative and dangerous with my money, how do I protect myself? What rules should I follow?
Luckily, I put a stop order on ZNGA after the original post so if the price dropped again I would save a couple hundred bucks. Ended up losing around 600 on the venture.
After the ZNGA fiasco I decided from now on I will only be investing in Mutual funds. I'm not an economics major. I have no business playing the stock market or trying to be a day trader. I should leave it to the experts and just make sure I keep the management expenses low.
I was really pissed off that after a day when the ZNGA stock closed like 3 points up. Then after trading hours and some bad news, people with connections could trade while the market was closed and save themselves while I was stuck holding my dick able to do nothing until the next day when the stock market opened with the stock 20% down.
However, this mutual fund plan of mine is not foolproof. For some reason I was convinced the stock market would pick up a bit after the election regardless of who won - this was based on no empirical evidence just my hunch. So I trasferred around 10,000 peanuts to my investment account to dump into 2 or 3 mutual funds as soon as I could.
Luckily, it didn't transfer to my investment account soon enough, and it inadvertantly saved me from losing relatively a lot of money as the stock market is tumbling because the lazy black man is still in office.
|