Advice for anyone thinking of investing?

[_B_]

So, I am quite new to this scene. I have read and tried (via a simulator) a bit of trading via stocks, forex etc. I would just like to hear some experience/tips/advice from anyone who's got a bit more knowledge in this area.

 

[Dan The Man]

Start young, invest in high quality, low expense, diversified ETFs and set-up automatic weekly/monthly contributions to cost average your investments.

 

[lammchen1]

If you make a consistent paycheck and are not living paycheck to paycheck then definitely consider doing some type of investing. Start off slow and use the amount of money you're willing to risk losing. When I was in my 20s my husband and I started off investing in mutual funds and I was frightened by the prospect of losing our money! His friends were all doing it and they were professionals looking to make more money so we agreed to invest into the same funds they did. We made thousands of dollars but then when the economy fell we lost thousands of dollars!! Knowing that your investments are not short term really helps to not panic at that great loss. We've since recouped our loss but we know that it does go up and down. We've also changed funds once we saw that the ones we were in were not gaining as they once were. Look at a prospectus and choose carefully.

 

[HayKay]

One safe way you can count on in this journey is by investing in index funds first. That way you wouldn't have your fingers burnt much and you can be earning while gaining knowledge about the stock market and its workings.

 

[Sincerem]

Well , It would be really beneficial to you as someone who has interest in the foreign exchange market to source for more knowledge by taking courses or meeting professionals who would teach you more about reading charts and how to make good technical analysis because this is one of the most important skill when trading forex.

 

[Setho]

For anybody who is thinking to invest money in any financial market by to the stock or cryptocurrency, they should be very careful about investing based on emotions. Research and technical analysis has proven to be the best way to make money from this system and not just by careless guessing.

 

[glitch]

Invest in land, gold, silver, and safe crypto. By safe crypto, I mean established ones such as Bitcoin and Ethereum. I would say the best investment you can make right now would be land. Not everyone can afford that though.

 

[Busybee]

Simulators and Paper trading are the best way to get used to trading. Educate yourself. Develop your own trading system. I trade from mid-term to a long-term position. My trading system is I buy when a stock price creates a golden cross-over. It is caused when a 50-day Moving average crosses above 200 days moving average, it indicates a strong mid-term to a long-term uptrend. I run a stock screener to find the stocks that have just witnessed golden cross-over and invest in financially stable stocks. Has worked out well for me. Try this in simulation and in paper trading and once you have become comfortable, start using real cash.

 

[HK World]

1. Start small
2. Make a Plan
3. Understand Risk
4. Be Tax Efficient from the Start
5. Invest don't speculate
6. Invest regularly
7. Educate yourself on how different investment options work and how they're likely to behave
8. Set expectations

 

[Good-Person]

Well , It would be really beneficial to you as someone who has interest in the foreign exchange market to source for more knowledge by taking courses or meeting professionals who would teach you more about reading charts and how to make good technical analysis because this is one of the most important skill when trading forex.

I think that you are talking about the Forex market. I must say that the Forex market is very risky and I have my own reservations when it comes to investing in such kind of markets due to high risk.

 

[Sincerem]

I think that you are talking about the Forex market. I must say that the Forex market is very risky and I have my own reservations when it comes to investing in such kind of markets due to high risk.

Well , it is a risky market but only for people that don't have a good understanding of how it works. What you have to do is just for you to go through the normal learning process and everything will be very much easier as other professionals are doing.

 

[tyrim88]

If you make a consistent paycheck and are not living paycheck to paycheck then definitely consider doing some type of investing. Start off slow and use the amount of money you're willing to risk losing. When I was in my 20s my husband and I started off investing in mutual funds and I was frightened by the prospect of losing our money! His friends were all doing it and they were professionals looking to make more money so we agreed to invest into the same funds they did. We made thousands of dollars but then when the economy fell we lost thousands of dollars!! Knowing that your investments are not short term really helps to not panic at that great loss. We've since recouped our loss but we know that it does go up and down. We've also changed funds once we saw that the ones we were in were not gaining as they once were. Look at a prospectus and choose carefully.

That is a good one on mutual funds investment,but one thing about the drive for investment and the stock to go for,is that one really need to know the stock that is doing well by research and expertise advice,yours was through experience.

 

[Good-Person]

Well , it is a risky market but only for people that don't have a good understanding of how it works. What you have to do is just for you to go through the normal learning process and everything will be very much easier as other professionals are doing.

Both Forex and cryptocurrency markets are quite risky. I have also suffered from big losses when I invested in the cryptocurrency market. This is why I am planning to invest what I could afford to lose.

 

[Sincerem]

Both Forex and cryptocurrency markets are quite risky. I have also suffered from big losses when I invested in the cryptocurrency market. This is why I am planning to invest what I could afford to lose.

A lot of people will always like to take a risk and invest more because they believe that is just the only way they can generate profit from the crypto market. well I believe your losses was as a result of inability to carry out proper research then.

 

[Good-Person]

A lot of people will always like to take a risk and invest more because they believe that is just the only way they can generate profit from the crypto market. well I believe your losses was as a result of inability to carry out proper research then.

I think that investing money in volatile markets could even lead to addiction and this is what many people suffer from. I have read about a guy who lost millions of dollars due to this habit.

 

[tray59]

If you want to invest someone like me I think that you need to know much about the face of business which you want to operate also,I beleive that you must have some money which you really want to invest,seek help from people who has been into the business before.

 

[Honny143]

Invest in land, gold, silver, and safe crypto. By safe crypto, I mean established ones such as Bitcoin and Ethereum. I would say the best investment you can make right now would be land. Not everyone can afford that though.

Mine preference also land and crypto seriously I am also involved in these fields past few years, and earned decent amount, both fields have little complications but we learns them then we surely succeed in these fields.

 

[Good-Person]

If you want to invest someone like me I think that you need to know much about the face of business which you want to operate also,I beleive that you must have some money which you really want to invest,seek help from people who has been into the business before.

Having an incredibly deep knowledge about the product and the market of the product is the key to making money. Unfortunately, many people dive into the market without understanding this.

 

[tray59]

My advice is always that if that is what you want its better you try your own personal best and seek knowledge and understand the face of business which you want to venture into and know much about the business feild then you can actually be recorded profit.

 

[glitch]

Mine preference also land and crypto seriously I am also involved in these fields past few years, and earned decent amount, both fields have little complications but we learns them then we surely succeed in these fields.

I think if you can afford it land is the best overall but if you are not concerned too much about land, just acquiring houses and renting them out can turn over massive revenue. I know someone who did this and became a millionaire in a few short years.