How To Invest
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May 20,2009
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It has been exactly one month since I started investing in the stock market. Before that I spent a month becoming aware of the various forces involved. What can I say the day I joined work is where it all began.
So much of information to process! So many companies to look at! The very idea of generating money so easily and quickly was enough to get me addicted.
Of course a month down the line the enthusiasm has substantially reduced L for obvious reasons. Anybody who has been a part of this market will agree with me on this. There is so much to study so much to explore a lifetime is not sufficient for this mammoth task. The fact that I have a job to do alongside definitely does not help matters.
I have outlined the mistakes I have made in the first month itself as a reference so that I NEVER repeat them again.
Mistakes so far in the stock market (1st month 6th April to 5th May)
1. Could not control myself when I saw the stock’s price rising and sold it too early
2. Bought on the basis of newspapers without any information about the company
3. Bought a disastrous company on the basis of a friends tip despite knowing it has bad financials
4. Bought without proper analysis of the sector
5. Bought a stock after its price had already risen a lot
6. Did not note down all variables I had earlier shortlisted
7. Sold when I knew the company was going to post favorable results in the next few days
8. Sold when dividend was a few days away.
9. Did not sell even after making sizeable profit.
All said and done I have made some profit this month. Of course I am assuming that the remaining investments which have not yielded any action so far will not result in any loss.
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