I started out by doing dailies every day and playing games that I found easy to do, I would average on about 15K a day if I were lucky and I put my hard-earned Neopoints into expanding my Omelette store. I couldn’t care less about the pet aspect of the site and all I really wanted was to make Neopoints and become rich. I was able to set up my own shop, I was able to invest in a stock market and weirdly enough I loved to do that as a child. I joined Neopoints back in 2009 or so for the first time and I immediately fell in love, back then the website was such a wild place with deep lore and systems that I loved. How I started: You need Neopoints to make Neopoints.
#Reddit games like neopets buy and selling free
If you are Neopets millionaire and want to share your story of how you made your millions feel free to send an e-mail or contact me on Reddit.
#Reddit games like neopets buy and selling series
This is the first post in this series so itś going to be a bit different as interviewing myself would be a bit odd. In this series, we interview various Neopets millionaires on how they made their Neopoints in the hopes of helping other players to make more Neopoints. "It's all going to end in tears, it's just a matter of when."Ĭheck out: Robinhood is having a moment.Neopoints make Neopets go round, despite the addition of NeoCash, Neopoints remain the dominant currency on Neopets. "It's a game of musical chairs and you don't know when it's going to stop," says Royal. But there likely be many more losers who got in at the wrong time and didn't understand what they were doing. There will be some winners who will make money off of their GameStop trades. "But just like you wouldn't take your rent money to Vegas, don't put your life savings on the line trying to guess what the herd will do next." "Some people like to keep a small portion of their money in brokerage accounts for exactly this kind of speculative event," she says. No one should invest money they can't afford to lose. While the price is increasing now, it's only a matter of time before it falls. The GameStop situation is "fascinating and fun to watch," but most people are better off on the sidelines, says Sarah Newcomb, director of behavioral science at investment research firm Morningstar. "Investments that are geared toward longer-term goals like retirement, your portfolio is comprised of higher-quality names that aren't subject to these shorter-term market whims," he says. The rest of the market is still behaving rationally, to the benefit of most average investors. The good news is that so far, the mania is only influencing a handful of businesses, adds Fehr. If you have no experience dealing with that kind of thing, you will lose your money very, very quickly." "The stock can drop precipitously in a matter of seconds or minutes. "This is tremendously dangerous for retail traders who haven't traded before," says Royal. Along the way, the users have been encouraged by Musk and fellow billionaire Chamath Palihapitiya, CEO of venture capital firm Social Capital. "It happens all the time, but it doesn't tend to play out in this public or dramatic a manner."įor some followers of the subreddit, buying GameStop stock is both a troll of the hedge funds they call "parasites," and a real attempt at making big bucks. This so-called "short squeeze" isn't unusual, says Craig Fehr, investment strategist at Edward Jones. That increases demand for the shares, which increases the price even more. In turn, Wall Street pros betting against the stock have to run and cover that short position by buying the stock as well. In other words, they are betting on the stock price dropping.īut Redditors are snapping up shares and stock options in GameStop en masse, knowing their momentum together is sending the stock price up. It works like this: Many hedge funds have taken short positions in companies like GameStop, in which they borrow shares of the stock at a certain price under the expectation that its market value will be worth less when it's time to actually pay for those borrowed shares. These retail investors have beaten Wall Street at its own game, at least temporarily.