Want to Learn How to Invest In Stocks Without Losing Money?
Practice Can’t Hurt
If you’re looking to begin investing in the stock market, it can be intimidating for a newbie. At least, I know I was. But there are ways to go in with a little more confidence and understanding. I’m talking about some good ‘ol STOCK PRACTICE.
The way I started, was by creating a favorite’s list on Yahoo Finance. I found a couple stocks that I was interested in and added them to my list. Every time I went onto that website, my stocks were right there for me to examine. I only picked a total of 3 stocks to begin with and I wrote down their values from that first day I was watching them. When I checked back a week later, I found that all three were up in value from the original numbers I wrote down initially. My interest was sparked, to say the least.
I was hooked, but I wasn’t ready to put real money on the table. Next thing I did was look for an app that I could practice on. I’m sure there are probably a few out there now, but at the time, I was using STOCK WARS. It gave me $100,000 of free money to invest with. So what did I do? I invested it all. It’s free money, so no harm no foul. But for you, I would recommend only investing realistic numbers that you would do in real life. This allows for the picture to seem real and you know exactly how much you can make (or lose) from the stock market.
I would say $5,000 would be a safe bet if you don’t know how much you would invest in real life. It’s a solid number and put’s things into perspective, or at least I think so.
Go ahead and buy some stocks that you think are worthy. Then, in a few weeks check out if you were right or not. If your account is now valued at $5,134 then you know that you just made a ~3% investment. Not bad for letting your money sit for a couple weeks.
Do It with the Mindset That It Is Real Money
Keeping the mindset that this could be real money, really weighs on whether or not you are ready to invest. If you feel comfortable with the outcomes of your practice investing, then by all means, when your ready to put real money in then go for it. Just know that there is never a real ‘right or wrong’ time to invest. Yes you may lose money or possibly gain money, but if you get stuck with trying to find the perfect time, aka ‘analysis paralysis’, you will never find a right time.
Just remember to never invest money you are not willing to lose. The stock market can either be your best friend, or a nasty ex.
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