- Mar 1, 2015
My name is John/Jack, I first touched the world of stocks through a virtual exchange as part of a course exercise when I was 14 years old. I excelled in this earning $385,000 off the initial $100,000 given by the game. After acing the exercise and enjoying it thoroughly I decided to dig deeper into the world of stocks and through my parents invested $1,000 of my own money into the market at 15 years old. This money was quickly turned into a little over $3,000 within a month or twos time. Shortly after this I asked for a loan from my family quite literally signing an agreement with them saying I would pay back every cent given to me, no matter my success or not in the market. I was given $15,000 which I then proceeded to actively day-trade with. Since then over the last 3ish years I've completely paid my loan back and have amassed ~$115,000 for myself which I still hold in the market and actively trade with on a daily basis. [/align]
Please note, I am not a licensed stock-broker. Any and all information presented here is for informational purposes ONLY. Do not expect to leave this thread and be a master of the stock-market. It takes a lot of self-study, practice, and mistakes to effectively trade by any means. My only goal with this thread is to give a solid foundation for those interested, and set you on a path to be able to learn on your own and hopefully trade and be successful later on.
I highly suggest that everyone starts with a virtual stock exchange prior to investing ANY money into the real market. This will save you a lot of headache, and money.
It is also important to note that you CANNOT legally trade stocks if you are under the age of 18. If you wish to you will need to have a parent/guardian open an account for you and execute trades according to your wishes. I also suggest prior to investing you amass the appropriate funds($500+ preferably. Though $1,000+ is optimal.)
Beyond this, do not get held up if you do not earn money immediately. If you let emotions run your trading, you will always, ALWAYS lose. Before taking a position in any stock, you should always decide how much money you're actually willing to lose should it tank completely and only invest that much. After you've decided an amount you need to decide on an exit point for that given stock, if you've earned $500, maybe it's time to get out. If you've lost $250, maybe it's also time to get out.
Decide your exit levels well before entering any and all traded, and stick to them; if you don't and get greedy you very well may lose everything.
Remember that nobody ever took a loss, taking a profit. So even if it's only $50, that's $50 you didn't have before and $50 more you can invest into the market.