You read that right. I’m your basic over-ambitious millennial who decided to enter the stock market. It all began when I started searching for houses on Zillow – the Real Estate marketing website. And behold, this was me:
Who doesn’t want the lavish house with an indoor swimming pool? But last time I checked, my account it was -$10.98 so… this wasn’t going to work out. At least not yet.
Fast forward – I looked for ways on how to increase my income and after much thought I decided to enter the stock market!
I went on to research blue chip stocks and penny stocks. I learned different strategies of entry and exit points. I read The Millionaire Next Door and Rich Dad Poor Dad. I was determined to “make money work for me.” Afterall, I didn’t want to work for another 20 years and sacrifice time I could have with my family. I set my mind to do this, and so I did!
I put a whole whopping $160 into a Robinhood account – the commission free brokerage. I felt a rush of adrenaline (my first mistake) when I bought shares of Abbvie, Disney and Blackberry. But then, I take a closer look a couple weeks later…
The following month was a learning experience as I put in over $600 and lost $150. I was really discouraged, but I switched brokerages and kept going.
Many people believe investing is like gambling, and I suppose to a certain extent it is. You never know what tomorrow’s market will bring, despite your prediction of it.
HOWEVER, I’ve learned there are ways to minimize your risks. There is a certain psychology that determines whether a stock will be bullish (increase in price) or bearish (decrease in price). The argument goes that because human nature can be predictable, so can the stock market.
With that being said, I now have much more invested and I am currently beating the market! This is with the mistakes I’ve continued to make, but I am in the process developing a strategy to where I will eventually have 1% risk…
A girl can dream, can’t she?
I know I’ve barely dipped my toe in the water here, but I plan to move from swing trading to day trading. It will be at least a year before then but its going to happen!