We place bets in office pools and buy lottery tickets, and at least once we buy something in a surprise box just to see what might be there. Its an exhilarating feeling to think you might get a great reward and even more of a rush when it actually happens. But some rewards are not worth the risk. Day trading is a good example of that principle. Online investing on a daily cycle is full of risk and definitely not a game.
The Losing Game
Day trading is the act of investing in stocks for a small amount of time hoping to capitalize on the ups and downs of the market that happen incrementally throughout a day then getting rid of all the stocks before the night comes. The idea is that the investor can make money from intermittent increases in a stock then dump it before it falls again. However the potential for financial loss is high because just as stocks can do momentary jumps they can also do large drops.
It takes a lifetime of experience to accurately predict how a stock will act moment to moment and for new day traders, initial losses are huge. The other concern is many day traders borrow money to make the initial investments. So at the end of a day you could not only lose the money you had, but end up in debt as well. A game where you could lose more than you started with is not worth playing.
A Stressful Session
Aside from the serious financial risks, day trading also can cause havoc with your psyche in terms of stress and the demanding pressure of paying attention. Because a loss or gain can happen in the blink of an eye, day traders essentially sit in front of their computers all day long watching every stock carefully. There are time lags in computer systems, and always a worry about the seconds or minutes it can take from when the trader makes the trade online and it actually happens in real time.
Finally there is the pressure of knowing you have to get rid of all of the stocks by the end of business. Day traders never keep stock overnight because of the huge potential losses that can happen in the world markets. Add to that the realization that a disrupted broadband signal or a downed power line could cost you thousands of dollars and imagine the stress each day would bring.
A Hidden Addiction
Day trading isn't really investing, it's legitimized gambling. Day traders risk their savings and financial future on the click of some numbers every day. The adrenaline caused by the highs when it's working and the stress when it doesn't react in the brain the same way gambling does. For gambling addicts, day trading can plunge them down a deadly downward spiral into debt and lost perspective.
Every gambler thinks the next pull of the slot or roll of the dice will be the last one they need for their ship to come in. Every day trader thinks the next 15 minutes are the ones that can bring a million. Gambling addiction is a problem that needs professional help to cure. Be aware of addiction to the risks of day trading.
We all have fun thinking about a twist of fate that could bring us fortune, but with day trading; it's simply not in the cards.
A Most Dangerous Game
I have heard many a blogger say that blogging fills a need. While blogging provides a humanizing effect on news and journaling, it also opens a window into personal lives. The details shared in blogs were once only available to a select group of friends, and while blogging has become common place, it has risks that should not be ignored.
Cyberstalking is a new phenomenon that allows anonymous online stalkers to prowl for victims. Online bloggers traditionally provide personal details about their lives. As a result, many women that blog are becoming victims. Most people are concerned about children on the Internet and set up rigorous posting guidelines for children, adolescents, and teenagers, but few adults heed the warnings and often do not consider that they too can be targeted.
Females, in particular, should be cautious when circumnavigating the blogosphere. If you are a blogger or contemplating an online journal, consider these tips to protecting your identity:
Do not have an online profile.
Most blogging services allow bloggers to create an online profile. While it might be fun to post information about likes and dislikes, it is best to refrain from posting any personal details. Often, personal details inadvertently provide insight into physical location or habits. The aggregate information in a personal profile can also assist someone interested in pursuing an individual.
Post anonymously.
Manage your blog anonymously or adopt an alias for all online posting. This will help protect you in the event that you draw unwanted attention.
Avoid personal or identifying details.
Avoid any personal or identifying details when posting in your blog. Do not post in advance about locations that you will be or about areas that you live near.
No photos.
Refrain from posting a picture. Photos can invite trouble or unwanted attention.
Avoid inappropriate dialogue.
Be careful not to engage in dialogue that could be interpreted in a way that it was not intended. Sometimes humorous threads can get out of hand. If the dialogue degrades to an area that makes you uncomfortable, disengage from the dialogue and refrain from further posting. Also when making decisions about individuals online, consider their past posting behavior and attempt to consider their true intentions.
Lurkers.
Always remember that just because you do not have a dialogue with someone does not mean that they are not reading everything that you write. Many people merely lurk on line and don't engage in comment posting, but do read what is written. Your audience could be much larger than you realize.
Timeless.
Internet content is timeless, and keep in mind that even if you remove content, it might be archived or syndicated. If you do not want something read, do not post it to the Internet. High Schools, Colleges and Employers all search the Internet to discern an individuals history. Sordid details about a late night will not help land a coveted job.
The internet is a haven for all types of predators. Always remember that just because someone says something is true, does not mean that it is. Predators adopt personas of who they think you want them to be. Just as we provide guidelines to young children, adults should be wary and take precautions when posting online as well.
While blogging can be a great outlet and channel, and in someway immortalizing thoughts, it is important that safety is considered and that good blogging practices are followed at all times.
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