This is my first entry into this journal and I am new to this website. A person I know was doing a weightlifting journal and I thought I should do one for trading. I came across this forum by chance and thought I would start. Im 23 and just started trading I currently only have around 4000 floating around in the market. Currently have shares invested in TPC. With 2515 shares Iam hoping that the uptrend should continue so I can make a small profit. Since im just starting im only looking for small profits and have all of it continue to grow as I profit from my invesments. My methods from what I have been reading follow under swing trading. Im looking for advice, encouragement, and knowledge and one way to learn is to just dive in lose it all or make it all, atleast I will have tried so with that I suppose we begin...
Welcome...In my opinion that's a good attitude to start with. Don't be scared of losing money because it will happen, as long as you learn from mistakes you can turn it into something positive. The good thing about guys our age is that we have our whole lives to make it up...I'm very risky at this point but if I blow out my account then my quality of living will not change one bit since I only risk what I can afford to lose.
Good luck to you. My one initial piece of advice to you is not to trade stocks under 5.00. All beginning traders like the idea of having as many shares of a stock that they can. It's very risky to put all of your money in one speculative stock. A 5 cent move down on this stock drops your account value 5%. I would rather have 100 shares of a 40 dollar stock than 1000 shares of a 4 dollar stock. These stocks are cheap for a reason. Again, good luck.
Thanks guys im keeping everything in check today was a relative quiet day. Im currently decided on my next move...
I got all my money together and out of a few failures. Bought memy and rode that for a gain so far today. Now limited in buying power... So far so good...
The biggest thing I would suggest to all new traders is that any advice that you get, make sure it makes sense to you. Don't think that just because it is working for others it will work for you. Listen to all the advice you can get, weather it is good or bad and see how it applies to you. Good luck with everything.