Since the stock market’s Dow plummeted 1,000 points on February 23rd, many Americans have jumped on the investment bandwagon. One of those people is me.
As a giant optimist, I am proud of the discounted stocks that I have jumped in on throughout the pandemic crisis. Robinhood, the platform I use on my phone is an app that 10 million users utilize to buy and sell stocks.
Many of my friends deployed and abroad participate in stock trading. Many of us new investors are making money, while our friends who experienced the enormous dip are holding on for dear life. I’ve gone from choosing to have a long-term mindset to swing-trading, as far as day-trading.
There is so much excitement and opportunity in the air. Scared money doesn’t make any money. Mistakes come along the way, but the upside of the state of the market has made a lot of people very rich.
Volatility Is at an All-Time High
High volatility means that a stock’s price moves a lot. Buying 500 shares of Snapchat at $12.00 would have made you a lot of money right now. Their stock is worth $18.00 (at the time this was written). This scenario means that if you were to sell all 500 shares, you would profit $6 on each stock.
That’s 500 stocks x $6 for a total of $3,000 profit.
Jordan, you’re telling me that I can make three grand in the span of a few days? My answer is yes. Many Americans are taking advantage of the craziness this market offers.
However, you must consider the dark side. Every time one person makes $3,000, another person on the other side of the screen loses $3,000. I don’t advise new traders to jump on this train, but it sure is exciting and the right time to take risks (if your money situation allows for it).
I have capitalized on this high volatility with stocks such as Royal Caribbean, Boeing, Penn National Gaming, and even Dave & Busters.
No Sports Betting, But the Stock Market’s Open
Many sports shut down in hopes of containing the Coronavirus and avoiding the spread. People seek a thrill. People need excitement in their lives. They need something that spikes their adrenaline and gets them excited to be alive.
I won’t lie to you, during my deployment I have been getting into sports betting and it makes things exciting! It’s a short-term “for fun” activity, and I wouldn’t do it full-time.
I’ve seen people experience considerable losses in bets and parlays, and it hurts me to see them so defeated. Sometimes it’s funny because of their rollercoaster of emotions, but I still feel bad.
Since most sports are on hold, many of these adrenaline seekers have flocked towards the stock market and seen just how exciting it is as well.
All I say to the thrill-seekers ready to risk it all, just don’t quit your day job.
If Boredom Strikes, Learn about Stocks
We don’t have all the time in the world, but during quarantine, we do have more time than usual. We can utilize the extra time to learn how to trade, read the company’s balance sheets, and read through critical news.
Investing in stocks has made me a more “woke” individual, and I’m glad that I’ve stuck it out since February 23rd with a nice profit so far.
Americans love their sports, but I have to tell you that the stock market is their new favorite sport. At least during the Coronavirus, we have something to gauge our attention besides Tiger King and The Last Dance.
I would never encourage anyone to gamble
However, if you feel confident after some trials and errors, you could take a chance on some stocks you believe might spike. I believe in opportunity on the stock market as well as unluckiness.
My day trading journey has paid off well for me, and I’m overseas on deployment. Although I don’t have all the time in the world to study, looking at the right stuff is all it takes to win sometimes.
One big day trade victory may be all it takes for you to feel like this pandemic isn’t the only thing going on in the world.
To read up on why you should focus on the long term, you can read this article from a Facebook post I resonated with greatly.
“Happiness is always the serendiptuous result of looking for something else.“
— Dr. Idel Dreimer