Step 16 - Hasty Speculation

How To Double Your Way To A Million In 28 Steps
There is Proverb that reads:

Steady plodding brings prosperity;
hasty speculation brings poverty.
Although I have known this for sometime, every once in awhile I think I can cheat the bank, so to speak, and maybe outwit the wisdom of the ages and prosper through speculation.

Of what speculation do I speak? The Stock Market and more specifically, the Penny stocks.

I first traded penny stocks back in the early to late 80's and I didn’t make any money on it then and I doubt I will be making any money on it now. The last trade I made for a penny stocks back then was on Black Monday , October 19, 1987. I was on the phone to my broker saying to buy a certain stock and he was saying to me well the market is dropping a “Little” and maybe I should wait. It was actually dropping 500 points but he didn’t want to be an alarmist. I said; “No, go ahead and buy it anyways”. Famous last words as the markets dramatically dropped leaving us with the second worst day for the markets around the world in history.

You would think that after that I would have learned but through the next 20 years I would pay the price for my speculating in the commodities market, the stock market, the bonds market, the options market, even the stinkin Supermarket(just kidding about the supermarket). Every market known to modern man has cost me greatly. By my calculations I would already be at the coveted Million if I had just saved my money and not invested in any “Market”.

I think the years 2000 and 2006 were the worst. In 2000 I bought Intel two days before the stock cut in half. How much did I lose? Well, lets just say I had sold my home and invested the money in the stock.

The loss was catastrophic. Did that stop me from investing in the stock market? Nope.

Amazingly after all these years and the many attempts, it is the small loss of around $50.00 of my DTAMP stake that has finally convinced me to stop speculating in the stock market, permanently. 20 years can change a man, even a man as stubborn as old Xinfinitum here, even if the change doesn't come until the last minute.

Yet, each man has his own path to walk, a journey different than any others, unique for that soul, unique for that life. Lessons to learn that are as individual as the individual themself.

There are many lessons to learn doing the Double to a Million Plan. I think everyone that attempts it will learn lessons that perhaps have alluded them up to this point. I don’t know exactly why it seems to work the way it does, but the things one can learn during the adventurous trek can and will be very valuable.

I haven’t been writing much because I haven’t made any additional funds for the stake. It doesn’t mean I haven’t been busy though. Between the Doubler’s Den forum and a few projects I am working on for DTAMP, I have been putting in many hours a day.

I thought I would answer a hypothetical question a reader asked in the last post.

“if a set amount of time was needed to accomplish a step, wouldn't it be logical if the same method(s) were applied then the next step would talk(take) twice as long?"

I think the answer is Yes and No. First, there is no set amount of time to worry about. Second, even when the same methods are applied, they seem to have varied results. For example, I found when collecting cans and bottles, I could spend the same amount of time collecting but happen to find a street that was a gold mine. I would collect double the amount than I had on other days. Same method, different result.

Nothing ever seems to stay constant, the variables always make calculating the completion of a project impossible. However, one needs to create new methods when the older methods become nearly totally useless in assisting in the completion of a step.

What I am finding is that, amazingly, when a new method is needed, it seems to mysteriously pop up. Sort of, it isn’t there, until the need for it to be there, arrives. One need not worry whether the provision will be forthcoming for the future for it will be there when it is needed. You could call it faith when you just don’t worry about the fulfillment of the future need.

Present Stake: $192.19

Motto: It is only "one" found penny.

Regards,

Xinfinitum


This Double a Penny to a Million Blog is based upon the Doubling Plan "How to Double Your Way to a £Million in 28 Steps". It is an attempt to "Double Your Way to a Million" by going from one penny to one million dollars, starting from nothing. At the beginning you start by finding that Million Dollar Penny and then double that Lucky penny until reaching $1,000,000.

How to Double Your Way to a Million in 28 Steps
D.T.A.M.P. - Double To A Million Plan

"For The Next Chronological Post Click Here"