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Don't listen to me

June 2nd, 2010 at 10:14 pm

Otherwise, listen at your own peril. Big Grin That's my general advice for anyone who reads or hears anything that I have said or written.

There's kind of a story behind this. Basically, I um couldn't contain myself and told a friend about my net worth gains last month. Yeah, I wasn't going to mention it here either, but what the hay....

Basically, my net worth has grown a little over 12% last month, due largely to my stock trading. Yep. Best financial month ever.

In fact, I've also crossed an unique milestone last month. It's the first time in my life where my money has made more money than I have working. And not just by a little bit either. Nope, it completely crushed my paycheck!

Of course, it still doesn't translate to anything practical in everyday life, as it only affects my retirement some day.

Surprisingly enough, the gains seems to have captured this friend's imagination? He spent a lot of time asking questions about stock trading. I seriously think he wants to start trading stocks as well. I wasn't expecting that.

I've tried to stress the risks involved of course, but I think he thinks that I can somehow help him avoid the pitfalls, which honestly, I can not. When it's all said and done, I also take on a lot of risks, and could have easily lost just as much....

Also, there is a small problem of capital. My friend doesn't have any. I've tried to stress that I've spent years saving money to have any investing capital at all. But what I found disturbing was when he replied, "Yeah, I don't know why you're going into this tangent, because what I really want to know is the trading part."

It's dangerous when you focus only on the gains and none of the risks. The simple reason why saving is such a big deal is because I don't trade on margin or with any kind of borrowed capital. I absolutely refuse to. In fact, I don't leverage either. I only work with what I have, but doing it my way means saving money.

While I'm at it, I kind of apologize for talking about stock trading here all the time. I know this isn't the place for it, but it's all I'm doing right now. Not that I mind it personally, since I really do like stock trading, but if you do decide to read about it, I only ask to please take what stock advice I say with a grain of salt. Big Grin

5 Responses to “Don't listen to me”

  1. Shiela Says:

    I kind of know how you feel. You always have to have a disclaimer.

  2. HouseHopeful Says:

    Don't apologize for talking about the stocks, I find the subject interesting!

  3. MonkeyMama Says:

    Oh boy. You are going to turn your friend into a gambler. Wink
    Talk about that stuff here. Not to your broke friends!

  4. baselle Says:

    12% of 0 is still 0. Big Grin

  5. Broken Arrow Says:

    Hahaha, Baselle you sassy jokester you. Big Grin

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