Finance: Which is the best way to learn about stocks?
I went to my mentor and asked “I want to trade like you”.He replied “How much money you can donate?”I was surprised. “What?”I want to make money. I don’t want to donate anywhere.He replied “Calm down, Son”.Just tell me what is the maximum amount you can donate at this point of time if someone needs your help.I said 20–25 thousand.Then he said “Put 50k in the market”.He gave me some tips and I came up with 5 stocks from different sectors.I put all 50k in 5 stocks (10k on each stock as directed by him).After 7 days,I lost 5 thousands.Then I had some patience and lost 6k more. Total loss was 11k.I got mad.I was thinking one thing “What will happen I will lose all my money?”Next day the P&L became -10k.Next day it became -11k.It fluctuated between -10k and -11k for some days.I got scared because I was in loss.I went to my mentor again and asked “What is happening?”He replied “You can’t lose more money”.After 6 months, “I converted my 50k to almost 65k.”I was happy with that.I learnt a lot during those 6 months.This way I learnt a bit about the market. Those were my first lessons.During those 6 months,Everyday I read news, always found out why the price is going down or going up.I was analyzing the stocks every moment.What I realized from my experience:You can’t learn it within day.You must get into the market with a small amount of money. Put 80% on delivery and 20% on intraday. This helps.Don’t put all your money on intraday. Once you lose money, you will lose all your confidence.Don’t speculate. Find a solid reason “Why the stock should go up or down.”You can’t track all companies.I have my own set of stocks. You must have your own set of stocks.Stay updated with the news.I have a website (see profile) where I write news about performing companies for my record. You can read those and do a research of your own. And you must find 3, 4 websites like that to gain more knowledge.Stay tuned for more.
How did you learn how the stock martket works?
It all started when my Dad told me to participate in my company's 401k. Now I had a piece of the action and something at stake. This fueled my interest in the stock market. Then he told me about this Warren Buffett guy whose stock at the time sold for $70,000.00 a share. That was mind boggling to me so I bought a book about Warren Buffett and read it. I followed it up with other books such as "Rich Dad Poor Dad", "The Millionaire Next Door", and "The Richest Man in Babylon". At the same time I discovered a site called fool.com for individual investors and people who are trying to accumulate meaningful wealth through stocks. I soon opened a discount brokerage account with Scottrade and have placed many buys and sells as well as buys and holds. I have learned some things by trial and error. By bits and pieces I have learned more and today am still learning. To answer the second part of your question, fool.com is a great site. Good luck!
$1000...Help me invest.....30 cent penny stock?
Hi guys, i want to start investing in the stock market and im new to this. I wanna start by just investing $1000 dollars and learn from my investment and follow up by investing $100 weekly in diffrent stocks. I just wanna put some money out there, and profit from it over time. is .30 cent penny stock a good idea maybe the company will jump...i want to invest in multiple companies. Does anyone have any tips for me. I want to invest but i dont want to use a broker. Maybe some cheap stock where i can buy more shares. Even thoe that doesnt matter. Any advice would help and i will really appreciate it
Wanna learn commerce,investments,shar... mkt,terminology..need guidance?
hi, i am a science student. currently i am working in an company & have gathered enough money to invest. being a science student i have no knowledge of commerce field. i dont even know the meaning of tears like equity,CAPS,MIDCAPS or stuffs that an MBA student would know. i have to wait to pursue my MBA as i am currently focusing on my job. but i would like to know the teriminology,jargon used in commerce field. i would like to know how to invest in share market. i would like to know everything from scratch because i am novice in this field or you can say i am completely ignorant about all these things. can anyone help me with this. i have searched site but they are like for those who have some knowledge about commerce fields & know the terminology. can anyone provide me with some good links that would help me understand every thing from scratch all the definations & meanings & how to deal in share market,knowlede on taxes,on how to read balance sheets. tnx.