A couple of my favorite movies are Wall Street and Boiler Room. These movies have definitely played a role in influencing my interest in the stock market. Just to clarify though, my interests lie on the legal side of the trading business and NOT the illegal side as these movies might depict. That said, I figured I would get into penny stocks and try to day trade a bit. This should have been the first warning sign.
The small amounts of trading I did and the more I read into the hype and bashing on the message boards, the more I saw a parallel between my golf game and the stock market. There are factors that coexist within these two worlds and I could swear it’s the same mentality just a different outlet. No wonder I stink at both.
Starting things off with what just happens to be one of our biggest pet peeves – advice. Hey, all you Gordon Gekko and Hank Haney wanna be’s…keep it to yourself. I learned a while ago that opinions are like you know what – everyone has one. Same goes with advice. I should have known not to take a stock tip from the guy next to me at the bar.
Another factor is performance. Most of the stocks I’ve invested in and my golf game seem to follow the same trend. Once I buy in or once I step foot on the course there’s a general feeling of excitement. I think my penny stock will go through the roof and I’ll shoot an incredible round. Well, that all changes when reality sets in and everything goes down hill…quickly.
So much for rubbing elbows with Jim Cramer and Phil Mickelson.
Hit’em long…yell FORE!!!