TGT
Target Corporation
stock NYSE

I have a "play money" account that I use to chase hunches and follow tips and remind myself why I don't have the patience for options trading. My "core" is still 90/10 stocks/bonds. So this $10k account is just to goof with. (That's a tiny sliver for me, so you pick a number that works for you if you like this idea.)
I occasionally see something that will make a moon shot. I've made > 400% a few times. I recently saw TGT get hot with bad headline and drop. (Unfortunately I didn't call the bottom and it was 14 months before I got a passable return.) I've lost 50% sometimes. You get the idea. If it gets too big I fund and IRA year or whatever. If it gets too low, I gotta make it back in that account. So $10k has been $4k for long stretches sometimes.
I think you chasing particular hot stocks isn't stupid but I would designate some % you are OK losing (even if it's 30% or half). And play with that.
But I've definitely held things that tanked when they were looking totally solid... Worst was the time I turned $32,000 into $700 before cutting bait. Great company on paper, great trajectory, great addressable market blah blah blah

I have a "play money" account that I use to chase hunches and follow tips and remind myself why I don't have the patience for options trading. My "core" is still 90/10 stocks/bonds. So this $10k account is just to goof with. (That's a tiny sliver for me, so you pick a number that works for you if you like this idea.)
I occasionally see something that will make a moon shot. I've made > 400% a few times. I recently saw TGT get hot with bad headline and drop. (Unfortunately I didn't call the bottom and it was 14 months before I got a passable return.) I've lost 50% sometimes. You get the idea. If it gets too big I fund and IRA year or whatever. If it gets too low, I gotta make it back in that account. So $10k has been $4k for long stretches sometimes.
I think you chasing particular hot stocks isn't stupid but I would designate some % you are OK losing (even if it's 30% or half). And play with that.
But I've definitely held things that tanked when they were looking totally solid... Worst was the time I turned $32,000 into $700 before cutting bait. Great company on paper, great trajectory, great addressable market blah blah blah