What was your initial approach to entering the market?

Discussion in 'Stock Market Education' started by Sugarhill, Oct 6, 2014.

  1. Sugarhill

    Sugarhill Guest

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    Did you study the market for an extensive period of time before starting to invest or did you start out with a trader managing your investments and then eventually took over for yourself? I mentioned in another thread that I am starting with a managed portfolio through this new application, but eventually I think it would be better to take over for myself.

    Would I do well to keep that portfolio as is, if it takes off and then finding a few things on my own or should I let that one take off and then take over?
     
  2. JR Ewing

    JR Ewing Super Moderator Staff Member

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    I started out contributing to my work plan over 20 years ago.

    Came into a few bucks and decided to learn as much as I could about investing and trading.

    Tried the day trading thing for a little bit, saw that it was a quick road to making my discount broker richer and me broke, and so I evolved into being more of a "big picture" investor.

    Started managing money for others over 10 years ago, and have learned a lot in the process.
     
  3. Sugarhill

    Sugarhill Guest

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    I originally would go through the work options such as stock and 401Ks, unfortunately, a huge life snafu would come up when I'd have to pull out financially and so I'm essentially starting over again. Now, I want to do it independent of a job, so nothing has to change if my job does.

    Do you manage simply because they want you to, or are they also hoping to take it over as they learn from you?
     
  4. turt

    turt Guest

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    I researched how the stock market worked and began investing in individual stocks on short term swings.
     
  5. Sugarhill

    Sugarhill Guest

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    How did that work out for you, turts? Did you have any success or did you need to still seek out some outside help to build your portfolio?
     
  6. cameronpalte

    cameronpalte Well-Known Member

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    I studied the market extensively before entering, and then on top of that when I first entered, I used lists of recommended stock picks and then narrowed those down to figure out which stocks I wanted to purchase rather than starting out with all stocks as a whole.
     
  7. JR Ewing

    JR Ewing Super Moderator Staff Member

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    I've done it professionally for nearly 11 years. First at a bank, then a firm, then independently.
     
  8. rjortec21

    rjortec21 Member

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    The capacity to learn is a gift, as a trader you must always be curious and keep on learning. Learn what is needed, learn what is EFFECTIVE then stop being a ZOMBIE and TRADE on your own. Never be afraid to explore, adapt to a situation and learn new tricks, the willingness to LEARN is a CHOICE.
     
    Last edited by a moderator: Jul 8, 2016
  9. rjortec21

    rjortec21 Member

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    Position Trading takes time to profit, you need to sit tight(build base) basically buying low and selling high then hope for the best.
    key to success:
    1. catalyst: it gives you hope to pursue what you planned.
    2. technical analysis: You need to study price movements, by doing this you can position yourself in a profitable price and calculate a possible downside.(risk)
    3. fundamental analysis: a little peak to their balance sheet won't hurt. check if the company can increase profit in 3 to 6 mos. disclosure on company earnings can set a good sentiment to investors.
    4. Killer instinct. In order to milk a stock you need to learn then adapt what is needed to be a good position trader then bomba all you can.
    5. Risk analysis. your risk tolerance must be planned. avoid trading with emotions, plan your trades and trade your plans. learn to cut your losses quick.
     
    Last edited by a moderator: Jul 8, 2016

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