(Have you been wanting to trade stocks or have already started? Have any stories to trade with me?)
I have been wanting to learn how to trade stocks for decades. I have not had enough money to put toward this endeavor. Things have changed a little. I still don’t have much money to put toward trading, but instead I have found a way where it will cost me less to trade.
On April 23, 2018 I bought my first stock. I did this impulsively and just because someone online said it was a good stock. I have read several books about how to trade. Don’t just follow tips, don’t be pushed because of time to get into or out of a trade, and don’t let your emotions decide what you will do. I know this…. every book goes over these rules. Though when it is real money I seemed to stop thinking clearly. I jumped into this without really checking it out. (I plan to make a lot of newbie mistakes.)
I bought this stock and it started to go down. NOOOOO!
When I was reading about trading I decided that Swing Trading (holding it at least overnight) would be more my style verses Day Trading (buying and selling the same day). Now that I made my first trade, it is really hard going to sleep knowing I am down money. I trust the system (mostly). Historically stocks eventually go up unless something bad happens to the company.
So, I was going to wait till it went up and then sell it as soon as I was able to get a profit. It went up over my buying price twice, but I was at work and not looking at the market. If I was able to catch one of those my profit would have been higher. About 4x higher than what I ended up with.
I know you are waiting for me to tell you the result. On the third day I sold for a profit of 30 cents. You may not think that is impressive, but I was thinking WOOHOO!
I jumped in and did something out of my comfort zone. A topic I only knew a little about and had never tried. I ended up with a profit and not a loss. In my book, that makes me A WINNER!
Have you been wanting to trade stocks or have already started? Have any stories to trade with me?
[When I am writing a blog I will write it then walk away for a couple of hours or a day, then come back and reread it. I usually find several mistakes that I didn’t notice at my first sitting. Rereading this question at the end I didn’t realize I had made a pun. ….stories to TRADE with me…. LOL ]