So I have been on Empire Avenue now for coming up 3 days and I have to say I probably still don’t really know enough about it. The mistake I have been making though is buying and selling shares to quickly and not actually considering what I am doing and which are the best to keep. Which is a mistake I guess quite a lot of people will make, they will see the price of their stock they have bought go up and think I could make profit here.
However the trick isn’t to get rid of the stock at a profit but consider the dividends you will get in the long run. While I haven’t actually used the really stock market I should imagine from what I have heard about it and seen in films and books I have read Empire Avenue is very similar to the real thing. You can buy and sell your shares at a profit however like the real thing is that where you going to make your money or is it going to be holding onto the shares and wait for the dividends to come.
The first thing is first I’d suggest holding onto stock for a few days after you’ve bought it just to see what happens, as I am still not 100% sure how it is completely worked out but dividends is calculated on your social interaction with people. So if you hold onto the stock for a while you can see how that user interacts with their shareholders and how they use services like Twitter to see whether it is worth holding onto the shares.
If they are not interacting well on the site or places like Twitter it might be time to cut your losses, that being said you can try to inflate the share price by getting people to buy shares in the ones you want to get rid of in order to make a profit with the price and commission involved. However you’re not likely to make too many friends doing that.
This was my first mistake on Empire Avenue and probably not going to be the last but thought I’d post it in the hope it will help others.
Also I am starting to come around to the idea because I have had conversations with two users over Twitter about Empire Avenue and other topics such as blogging so it has already really started to accomplish the aim I had for it and that was to get this blog out there a bit more.
Don’t forget you want to play why not join through me and earn us both extra eaves: http://empireavenue.com/?t=nq8dj8q2