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  1. Member
    Join Date
    Feb 2018
    Location
    Cataula, GA
    Posts
    1,711
    #7
    Quote Originally Posted by IMhooked View Post
    What was your hope for your $ when you bought in? Earn a profit and cash out? OR did you believe GME was undervalued and you were purchasing stock in a solid company with solid financials for the long term? Were you FOR THE CAUSE? Was this fun money? Did you watch it daily/hourly and if so if your goal was a profit why didn't you sell?

    You could hold and could endure more/total loss. It could rise but at what point are you going to "cash out"?

    What are the short term and long term capital gains/losses mean for you if and when you do sell?

    Are you just getting into TRADING or are you at the point of starting to INVEST? To some they mean the same thing. To others they're entirely different practices.
    IMhooked, thanks for the response. I'm embarrassed to say, I bought into the hype and was hoping for some quick easy money. I've never personally traded stocks, fortunately the delay in opening and funding a brokerage account saved me quite a bit of cash. I caught the GME stock on the way down and not up (it could have been much worse).

    I've always just paid into my 401k and mutual funds, never really paid much attention to them. The whole GME thing got me interested in trading stocks. I've really started to find all of this very interesting, this is all fun money to see how I could, learn about the stock market and maybe make some cash in the process.
    Last edited by mastergun; 02-17-2021 at 12:29 PM.