For as long as I can remember, I first started using a PC and a Mac for gaming. I used to play Dungeon’s & Dragons on a Mac, and I remember late night to early morning sessions.
It was all an adventure to me, and years later I think this helped with my trading and investing strategies on the Stock Market…
Like many young peeps, I was into board games, puzzles, computer chess, strategy and simulation games.
But, the Stock Market is the ultimate game! It requires a sizable investment of cash to start off right, otherwise it will be hard to work strategies out like diversification and portfolio management.
The Stock Market is wonderful these days because you can work from home, you can do it online, and trading stocks is fast and easy once you get used to the way things are setup.
Yes, you have to have a game plan and it depends on a couple of things.
- Money – How much do you have that you are willing to spend.
- Time – How much time are you willing to dedicate until you become proficient.
Most of us start off with very little cash, so you have to make compromises, but the object of the game is to earn money by trading and investing in stocks. And, you must not lose money if you can help it, and if you do, you have to keep your loses at a minimum.
The Stock Market is quite different from gambling, mainly because if you gamble you stand the chance to lose money and never get it back. With investing, it depends. You might be in a losing position but things can turn around because stocks and their companies are businesses. They have cycles and their stocks rise and fall with this cyclical nature.
With stocks you could very well treat it like gambling, you can be more conservative and invest in great companies that have great dividends. There’s more to it, though, as you have to study companies and their stock’s performance, and make decisions with regard to how long you plant to invest, and at what point do you plan to buy the stock at its lowest point.
In addition to having a gamer’s mindset, I think it benefits one to have a hacker’s mindset as well. Hacker’s basically are problem solvers, whether they do things illegally or legally, hackers love to solve problems, and there is great pride in have solved a problem.
However, we’re talking about using a hacker’s mindset to solve problems that are legal, and in the Stock Market, our primary goal is to make money on the stock market, and better still to let your hard-earned cash make money for you, so you don’t have to work so hard…