Yes, I realize there are great risks trading stock. I set aside 5K to
get started. This was money I saved towards getting started with
trading. Like all hobbies, you have to spend money and that is what
this is to me. I don't suggest people "jump right in" without at least
understanding the basics. I used that phrase without explaining that
I did do some research to get started. But opening an account finally
was like "jumping right in" for me. All of the mechanisms that have
to be understood about that part of it are not easily understood until
you actually do it. I had a good experience and so I recommend others
not be too shy about it.
As for my experience, yes I did invest in Visa and yes it did well and
continues to do well. Keep in mind, there are mechanisms that help
you protect your principal if that is a concern. For instance (and I am
sure most of you already know this, but for the benefits of others), you
can place a trailing stop on your investment where a sell is triggered
at a preset value that continues to follow along with a stocks growth
in value, but when it starts to decline, triggers a sell. This is something
very useful to protect against devastating loss. You are in full control
and can make quick decisions which does make a difference for peace
of mind. I do agree that research is necessary, but how long do you
study and try to satisfy yourself of a companies worthiness before you
give it a try? You can, of course, pick stocks and keep track of performance
without buying to see how well your research paid off. Doing this
will give you some idea of whether you might be well suited for the
stress of the market.
Tim, Ohio
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