Investment Wednesday! Wait…

Yes I know, Tuesday is typically my investment stuffs day, but I like to mix things up a bit. As such you are stuck with my ramblings on investment TODAY. Anyway let’s get started. I’ve been playing around with different short-term trading strategies for fun over at Wall Street Survivor. This is really just to make me a more well-rounded investor, and to toy around with fake money in the market, it’s more fun when you can say “hahaha I’m $50,000 down.” With real money I’d likely be locked in my room crying.

Which brings us to our next point. If you are committed to being a successful individual investor, it’s important to have the ability to adapt. I don’t mean changing your strategies on a whim, but rather do some testing, try different research, try your hand at technical analysis. With sites like Wall Street Survivor, you can do this without any risk of loss. At worst you’ll lose a bunch of fake money and say “Whew I’m glad I don’t day trade.”

Things change, the markets change, and you have to be as fluid as they are. If you really think there are opportunities to be had, you need to be able to pounce on it and take advantage. I’m a long-term investor, I hope to build up my dividend dynasty as time goes on (and as my debt goes bye-bye). Look for beaten down stocks, find diamonds in the rough, but don’t catch falling knives. The best way to do this is to go with your hunches, play out your strategies on a training field rather than in the bigs.

The more money you can make now, the more likely you’ll reach financial independence sooner. As always, don’t take risks you are not comfortable with.

Also, as a matter of disclosure, I don’t have any connection to Wall Street Survivor. I’m not collecting referrals or earn a bonus or what-have-you, just thought you’d be interested.

Also, HAPPY HALLOWEEN!

-Xias