48
I'm turning 18 this year. My mom is a millennial
(discuss.tchncs.de)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 12 Jul 2023
48 points (72.2% liked)
Showerthoughts
29525 readers
457 users here now
A "Showerthought" is a simple term used to describe the thoughts that pop into your head while you're doing everyday things like taking a shower, driving, or just daydreaming. The best ones are thoughts that many people can relate to and they find something funny or interesting in regular stuff.
Rules
- All posts must be showerthoughts
- The entire showerthought must be in the title
- Avoid politics (NEW RULE as of 5 Nov 2024, trying it out)
- Posts must be original/unique
- Adhere to Lemmy's Code of Conduct
founded 1 year ago
MODERATORS
When I was 22, I wanted to get into the stock market. I found a website that gave you $200,000 in fake money to "invest", and showed you how much you would make or lose over the time you "owned" the stock until you "sold" it. I lost $62,000 in the first week.
All I'm saying is do your research and invest wisely. Or just do whatever Warren Buffet does.
How did you do in your second week?
They lost 138,000 dollars.
Not quite. I stopped playing around with buying and selling so much and stayed with a few well known stocks. I didn't lose any more, but the growth was extremely slow. Hence the nature of the stock market. If you try to play it to make money fast, you really really need to know what you're doing or you'll lose a fortune.
What was the website?
This was 20 years ago. I have no idea what site it was. I just googled "stock market simulator" and went to the first one that looked legitimate. Of course it was a little easier in 2003...
You only "lose" money if you sell low. Dont do that. Our economy somehow relies on infinite grow, so make the most of it. Most stocks recover from crashes sooner or later.