I have lost a lot of money on the Zacks stock challenge because I kept shifting my stocks around. I would sell every time I noticed the value of the stocks going down. Then they would be up again the next day at a higher price which would have earned me some money.
I have decided to just leave the stocks that I have alone right now and see what happens in a few weeks instead of trying to tweak my holdings every day…sometimes multiple times during the day.
For all the money I have lost I am just glad this is just a simulation because I would be really mad right now if I had messed up like this for real.
I can imagine what you mean. If I lost money on stocks, it makes it hard. I would worry too much. I am bad at that stuff. I know it is the way to make sure you save enough, but it is too stressful to think you might lose your principal.
bleck.
Good luck on the challenge!
Buy and hold tends to do better in the long run. Especially if they go down, you might as well try and weather the storm.
I bought some stocks for real a couple years ago. They’ve gone up, they’ve gone down, and I’m close to even now. I realized that I have the ability to make better use with that money in my own business endeavors than I do owning a tiny piece of a corporation over which I have no control.