Quote:
Originally Posted by Michael E
^You totally get it. Slowly work your way in and build your portfolio. For example, if you want to start with $5k buy 5 different stocks and invest $1k in each stock. Its a lot of fun and addicting! Buy companies you know and understand and if they happen to be "on sale" and due to your research you believe the company is worth more and will continue to grow then jump on them! Chipotle is a good example, you know the company is good and their products are desirable, there was just a mishap that caused the stock to fall. Everyone will forgot about it in about a month and the stock will soar again. My only problem is their stock is too expensive. Your timing will never be perfect so don't sweat it if it keeps going down. I've been averaging in to oil for a while now, my average cost basis keeps getting lower and lower but I know we will be in demand for oil for a while to come and it will eventually be back therefore I have never lost sleep over it.
There is some misinformation in this thread but investing is like building a car. There are many different ways of doing, not all of them are necessarily right or wrong it all depends on the persons style and how much risk they want to take on. I am still learning new stuff every day too so always keep an open mind.
Penny stocks are not my thing and I would never advise to put your eggs in that basket. There is a reason why they are cheap. I see penny stocks as a casino, the house always wins and its super risky.
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thanks for the advice ! i dont plan on penny stocks either lol
im hoping for chipotle stock to stay down come tax season so i can buy in but i doubt it will
Quote:
Originally Posted by KAT-PWR
That the general idea but just remember stocks can go down as well as up. The best advice is to stay up on your stocks semi weekly. Not just what the company wants to tell you, news articles, etc. I can't emphasize staying up on stocks enough. Find out where their HQ is and check up for local news about them. If you buy in and the stock hasn't bottomed and it continues to decline you could be upside down quickly and be waiting a while to see any return. Also don't be afraid to sell. People sometimes get stuck thinking "well it's just going to keep going up" or "just a few more dollars and I'll sell" then a ton of other people sell and you watch the price drop while you're waiting for it to go back up.
Whenever buying or selling ALWAYS use limit orders.
Also stay up on stocks that are "in the same boat" as yours. Apple's chip makers/suppliers are an example sometimes you can gain a better overall perspective of what's happening if you look at the other players in your game.
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good advice on the apple chip supplier and the "same boat" tip. appreciate it
i guess advanced semiconductor engineering is the main supplier for apple chips! ill learn the ropes with small companies like that