Posted 10/15/2020 08:34 (#8546858 - in reply to #8545940) Subject: RE: Stock market beginner advice needed
Most of these points have been pointed out already but:
Buy blue chip companies that have a long history of profits.
Don’t use money that you can’t lose or that you know you will need in the near future.
In general, you are better to buy shares in a mutual fund company than the actual mutual funds they are selling.
Don’t watch the daily prices unless you can handle the downturns. You will end up selling on the lows and missing out on the gains that occur afterwards.
In general, if there is significant talk about the recent great performance of a stock it will not be the time to buy into it. The people talking are already positioned in that market and they need you to invest to continue the gains so that they can exit the market.
Similar to above, any talk you hear about short term performance of a stock is past performance, it is no guarantee of future performance.
If you do decide to do short term trading you will not have enough discipline to avoid learning the hard way that you don’t have enough discipline.