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It really is a great thread, it's not only useful for complete newbies, but there's also tips for people who are already involved but are looking to improve, as everyone should always be in my opinion
Read a lot about investing. Once you know what you're doing, you'll do it well. Also, don't invest more than you're willing to lose.
This is the best advice. Not because you will necessarily lose it, but because you will make bad decisions if you are afraid of risk. You'll sell too early and buy too late, and in this business, TIMING IS EVERYTHING.
Do a rigorous study if you're serious about this. Try to keep your emotions on check, you must remember it's impossible to only earn profits in the stock market, don't get too down when you're facing losses, because sometimes a bear market can turn into a bull overnight. Most importantly, know what you're investing in and try not to go all out on your money. Remember, you must not be left with nothing in your hands if you face a crisis in the market. Try to invest only a little bit and see how things work out for you. All the best
Good post there Parassd, studying the market is the way to go, but having a good timing is all, know when to cash, when to profit, when to cut losses.
Depends on your own personal situation. Just remember. Concentration develops wealth. Diversification protects wealth. Other than that the advice they gave so far is great. Take your time, and don't believe anybody, even yourself. Meaning due your research. You can be out 90% of investors just by reading more than them about a particular stock. DON'T EVER GET STOCK TIPS ADVICE FROM A FORUM. I mean like yahoo comments. If you do, research it even more. In the end, nobody really knows, it's just a game. A very sophisticated game. Learn the rules and the language and you'll be okay.
Concentration can also put you in the poor house if you don't know what you're doing or are just plain unlucky. I've invested in more than one company over the years that looked great on paper, but was cooking the books. Luckily I didn't have anywhere near a large fraction of my money in any of those few bad companies. Best to spread your money out over at least a few different investments.
I think staying emotional intact is something I probably couldn't do. I still want to learn as much as I can about investing. Has anyone here just ever tested the waters with only a couple hundred bucks? I don't have boat loads of cash to invest. Putting up a little just to see what happens is what I'm thinking of. I still want to be well informed before I even do that. Any advice is welcome.
You might consider putting those couple hundred bucks into an index fund. Hopefully you can add to your portfolio as much as possible in the future, and perhaps explore other investments with those dollars.
