Sunday, January 3, 2010
Message Boards
Saturday, January 2, 2010
Profits
I feel as though the first piece of advice I need to give is to ALWAYS protect profits and NEVER fall in love with a stock. These are 2 things I failed to do at various points, which have cost me a lot of money.
First, protect profits. This mostly concerns penny stocks, which have very volatile trading patterns. When you are lucky enough to make some money off of these stocks, you must take some of your profits. It is up to you how much you want to sell, but it is a must to cash in on some of your gains. This leads into my second tip which is never fall in love with a stock. The first stock ever bought, which made me a good amount of money, was hard to sell at any point. I missed out on 100% more profit because I did not want to sell this stock, and ended up having to sell at a less attractive price.
Readers, please feel free to share stories with me and all of the other readers so we can learn from each other!
First Post
Hey everybody, as you can see this is my first post. I have been investing in the stock market for a little over a year now, and I have learned more than I ever thought I could learn in one years time. I am writing this blog to help other investors learn from my successes and failures that I have encountered in the past year, and also to talk about my current and future investing decisions. I also hope to learn anything I can from my readers as I continue to gain knowledge.
As I said, I began investing a year ago when I was 18 with about $2000 that I had saved up. As many younger investors do, I played most penny stocks and other micro-cap stocks. Right off the bat I started earning money, quicker than I ever thought. In about 4 months time I saw my account go from $2000 to nearly $9,000, and I could not have been happier. Instantly I thought that I must be a natural at this, and continued to invest. I had a plan in place that I told myself to stand by, but a few months later I found myself going against this plan as I first started to lose some of my earnings. All along, I had been teaching myself through many sources about investing, and I thought I had a solid grasp on things. A few more mistakes later, I now find myself with about what I started off with in my account, and much more knowledge than I had one year ago.
In my future posts, I plan on elaborating on my mistakes and what I could have done to prevent them, as well keeping you up to date on my current experiences. I will post again shortly a couple things that I think every young investor (especially in penny stocks, but not limited only to them) should be aware of and consider before they invest. Once again, I am no expert by any means, just a young self-taught investor trying to constantly learn and share this with others.
Thank you for taking the time to read my first post, and there will soon be many more to come.
-Jackson Webster
Friday, January 1, 2010
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