Online Stock Trading - How To Loose All Your Money In Just Two Weeks
March 3rd, 2008 by admin
I will never forget my very first lesson in the stock market. It was a mess. Within just two weeks I lost everything I invested. I did not even know that my broker invested in stock options and not in the shares itself. Maybe he told me but I did not know the difference anyway.
Today, almost twenty years later, I can only laugh about my foolishness. How could I be so naive believing it would be so easy to make money with stocks? I was fooled by the fact that it was too easy to open an account and to give an order to buy shares. I could just do it without doing any research. It was so easy to get into the market. How could something that is so easy be dangerous?
No one really cared about me but just themselves. So did I. I wanted to make money fast. I did not care which stock would bring me the profits. I would just buy anything that looks promising.
Maybe that sounds familiar to you. We are all impatient and want what we want quickly and easily. Unfortunately (or luckily), on the stock market there is no mercy. Whether you are a novice or an experienced pro, the rules are the same for everybody.
The best lesson I have for beginners is to be very careful in the beginning. Protecting your money is the first rule. The stock exchange is a battlefield, a black hole that sucks your money in without asking. If you approach the market with this attitude then you are ahead of ninety percent of the other stock traders out there already who do not survive the first weeks. Like I did.
Highly Recommended Reading:
Understanding The Stock Market
David A. Sorenger is an expert author on stock market related topics. His articles about stock trading, online stock brokers, stock options and penny stocks have been published on numerous web sites, forums, blogs and e-zines all over the Internet.
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