How did you get started in investing?
I basically wanted to be more financially secure and found out that people like Warren Buffet were able to make their fortunes by investing in the stock market. I basically scooped up every resource I could: online blogs, YouTube tutorials, or and discussions with people that who actually had experience investing.
After around half a year of studying, I opened a trading account and enjoyed some early success, making a 20% gain from a certain airline stock, my first stock ever. However, I also remember getting crushed by a 40% loss due to holding onto a certain energy company. I nearly gave up out of frustration!
In hindsight, I could've avoided the loss if I had either sold right away or just held for the long term, although I would have had to wait for more than 3 years. It was only later on that I learned there were are different techniques that could have helped me come up with a systematic way of managing my stocks.
What's the most important thing you've learned about investing?
I think having the right mindset helps set you up for success.
There is no crystal ball that tells the future, and even the most seasoned analysts and traders will attest to this. The best you can hope to do is find out what exactly is the main driving reason behind the market movement, put in a manageable amount of money, and keep abreast of new developments.
