You know, I want to tell you about my main failures in the securities investment market to make it clear how not to do it. Even though it was a long time ago, I remember a lot like now)
My first failure came 17 years ago, when I was just starting out in investing. Of course, as now, the first thing I came across was huge posters about trading, currencies, the currency market and how great it all is. With passion, I began to learn the basics and advanced techniques of chart analysis, from candlesticks to shoulders.
The result of this knowledge was the first attempts at transactions. I was sure of success. No doubt. At that time I was still working and my salary was something like 400 dollars a month.
Like a true professional, I opened a Forex account and deposited $1,000 there. I borrowed this money. The dollar/yen currency pair was chosen as a pair for the deal. She has performed best on the charts in the past. The time period I chose was 15 minutes. And here it seems to be! The outlines of a familiar configuration began to appear on the chart, they definitely showed a good income in a couple of minutes.
I made up my mind and made a deal. Of course, with a shoulder. My deposit disappeared in about 4 seconds. I managed to save about $300 out of the required 1000. I was lucky somehow to stop this madness a little before it killed me.
In this lesson, I realized that Forex never again. Never ever.
The second lesson came later. Approximately 7 years after the first. I got burned on the bank’s Eurobonds. The bottom line is simple – the bank’s license was taken away, the quotes collapsed, and then the auction stopped altogether. I can’t say that I was as wrong here as the first time, but obviously there was a gap. If I had thoroughly studied the business of the bank and its financial statements, I would not buy these bonds. But the solid coupon yield in foreign currency attracted me and then taught me to be careful. ) This lesson cost me $4,000. I lost $4000 of my money.
From this I concluded that from now on I will start investing again when I study every detail of smart investing, every business, every financial statement. This is where my smart investment journey began.
I wish you – do not repeat my mistakes, although your experience is more sensitive and better remembered, but somehow it would be better to dispose of this thirst for adventure and quick profit.
In summary, I returned to buying in the Stock Market after 4 years. Research, training and tests. And since then, even if there were deals and unsuccessful companies in my portfolio, I do not regret it. Because I understand why I bought them and why I sold them.
If you like BeatMarket, you have ideas and suggestions on how to make it better, more interesting, more useful, I will be very happy to discuss it with you. Email me: maksim@beatmarket.one
Our mission: To tell and teach about investments in a simple way. Avoid the most frequent and major mistakes in the beginning. Help to overcome the first fears and take the right steps into the world of smart, healthy and successful investing. Investments are part of the life path of each of us, and we help make this path exciting, safe, useful and healthy.
