I had originally signed up for WSS during the 1997 NFL season. I admit that I didn't know what I was doing.
I bought some of this and some of that, and left it alone. I pretty much abandoned WSS, only to return in November of 2000, just out of curiosity. My portfolio had grown to upwards of
$3 million. It took three years to triple my portfolio, and I was doing NOTHING!
By this time, I was a more patient person, and I took the time to read more carefully; I even visited a chat room and a few message boards.
This is where I noticed the recurring references to the Oasis website everyone is so proud of. Suffice it to say, that was THE best investment I ever made.
I had an epiphany at this point, as the Oasis site really held the key, for me.
I have now turned my $3 million into $187 million, as I sit here on February 22, 2001, and I am not even as fanatical or attentive to detail as most of the true experts at this
game. I am still quite a novice, but hope that my experience and the way I recant it will open a door or two for you.
MISTAKE: I had no patience to read through the rules, and simply took my million and bought various quantities of different players whom I thought were "good" players.
MISTAKE: I figured stock prices went up or down because other WSS members felt the same about a player that I did, or that for some odd reason, there was heavy trading in that player on that given day. I really didn't know why a stock's price went up or down.
MISTAKE: Also, I presumed the game was exclusively a Long Term game, not one conducive to
Day-Trading.
MISTAKE: I stayed away from players whose stock prices I felt were too expensive, simply because I figured their price was approaching a "topping out" point, and the potential for
great returns was minimal.
MISTAKE: I assumed lower priced stocks were a far more wise long term choice. I was sooo misinformed. Low priced stocks usually are so for a reason.
The list of mistakes, above, is just the tip of the iceberg.
