Ok, I need some advice from some veterans....
Im only 19, I don't have a cushy job like most of you guys, i got 7k for inherticance a year ago, I wanted to get started in the stock market so i invested 5k in my firstrade account about 4 months ago, I made 700$ in a month on OTD and was doing pretty well, It gave me a nice cusion so I never got too worried, this past 2 weeks my stocks have gone down the shitter and now I'm down 50$ from when I started, I do a lot of homework on all my stocks and all this work, and I'm losing money? As a relative newbie, this scares me, I don't want to watch all this money go, I'm a full time student, lots of you guys can afford a market crash, and say "bummer". so my question is, is the stock market worth it? Is the market being this bad very common and when it turns around, what do all of a sudden your stocks start going green and make all your money back? Do I need to stop getting emotional and wait it out or am I going to continue to wake up and check up on how much money I'm losing everyday.
well I'm in a very similar situation as you, being 20 and student without much income. I wouldn't worry too much... This latest downturn seems to be not that bad. Just keep your stuff deversified. If you feel it is too risky, there are CDs that yeild 5% that you could put your cash into.
I'm no expert on investing, but I day trade for a living and I do have a couple of suggestions that will guarantee 50% minimum gains within 2months, if your interested.
$1K in PLNI at the current price of $0.0038
$1K in RSHN at the current price of $0.0037
You can thank me later
http://onlinetradersforum.com/styles...foro/clear.png
The market has been awful this month, but I expect the market will recover in the very near future, just be patient and you will be fine.
you gotta take the good lumps with the bad. I don't think the market will crash anytime soon, but we will get a much needed correction over the next few months as a downtrend begins. We will see a bounce shortly, so don't fret too much. That being said, I pared down to 40-50% cash yesterday, and plan on saving at least 20-30% of that to use in late october.
The fact that you are in the market at 19, says a lot, and I applaud you for investing at such an early age. If you can't take the heat then get out of the kitchen, but if you are willing to stick through it, maneuvering through a bear market can be great experience for later years of trading.
Count your blessings. You went from 5700 to 4950 if I read that right. That's a 13% loss. I know right now it feels like the Devil himself done reached down your throat and pulled your balls straight up through and squeezed; however, there are many, many people out there hurting worse than you right now.
Before you lost 13% during this market correction you were up 14% in 4 months. Once the market goes back up you should be able to repeat that performance, to bring it up to 14%*3 = 42% this time next year (probably more like 20% if your lucky).