I'd recommend paper trading for awhile before ever investing with real money. Build your circle of competence in an area, the smaller the better to start. See the results through your paper trading, then execute in real life. Getting over the possible psychological turmoil of being in the market takes experience, though. Learning to not let the waves of emotion throughout the market sway you, will help you massively. That you can't train for, it just has to be developed over time.
And of course never invest money you need, or aren't prepared to lose.
Hope you're doing good with things otherwise.
(06-03-2021, 05:31 PM)CatMan Wrote: [ -> ]I'd recommend paper trading for awhile before ever investing with real money. Build your circle of competence in an area, the smaller the better to start. See the results through your paper trading, then execute in real life. Getting over the possible psychological turmoil of being in the market takes experience, though. Learning to not let the waves of emotion throughout the market sway you, will help you massively. That you can't train for, it just has to be developed over time.
And of course never invest money you need, or aren't prepared to lose.
Hope you're doing good with things otherwise.
Whats paper trading? is there any game/app that allows you to trade without actually using real money at all?
Thank you for the advice bro!
yeah all is well just always journalling and hoping more execution becomes evident for me lol hope all is well with you too otherwise?
16/180
Day 16 ON - June 3 - ON #1 - part 2
Just went to the bathroom and suddenly saw a large spider walking across the floor. More like a daddly long leg in size but was a spider.
Did I get a rush of anxiety yes. Because the spider was walking slowly it didnt cause me to freak out as much as I would usually but indication this fear will take time to deal with for sure. I dealt with the bugger but cant tell if my reaction was same or less than usual sadly. I tried hard to analyse it but it all came and went by too quick.
(06-03-2021, 05:31 PM)CatMan Wrote: [ -> ]I'd recommend paper trading for awhile before ever investing with real money. Build your circle of competence in an area, the smaller the better to start. See the results through your paper trading, then execute in real life. Getting over the possible psychological turmoil of being in the market takes experience, though. Learning to not let the waves of emotion throughout the market sway you, will help you massively. That you can't train for, it just has to be developed over time.
And of course never invest money you need, or aren't prepared to lose.
Hope you're doing good with things otherwise.
(06-03-2021, 05:56 PM)Jake2015 Wrote: [ -> ]Whats paper trading? is there any game/app that allows you to trade without actually using real money at all?
Thank you for the advice bro!
yeah all is well just always journalling and hoping more execution becomes evident for me lol hope all is well with you too otherwise?
https://www.investopedia.com/terms/p/papertrade.asp
You should search youtube for different trading styles.
Buy and Hold / Day Trade / Swing Trade / Income vs Dividend Stocks
If this is too much work, then search youtube for ETF Index Funds.
(06-03-2021, 06:43 PM)4Kingdoms Wrote: [ -> ] (06-03-2021, 05:31 PM)CatMan Wrote: [ -> ]I'd recommend paper trading for awhile before ever investing with real money. Build your circle of competence in an area, the smaller the better to start. See the results through your paper trading, then execute in real life. Getting over the possible psychological turmoil of being in the market takes experience, though. Learning to not let the waves of emotion throughout the market sway you, will help you massively. That you can't train for, it just has to be developed over time.
And of course never invest money you need, or aren't prepared to lose.
Hope you're doing good with things otherwise.
(06-03-2021, 05:56 PM)Jake2015 Wrote: [ -> ]Whats paper trading? is there any game/app that allows you to trade without actually using real money at all?
Thank you for the advice bro!
yeah all is well just always journalling and hoping more execution becomes evident for me lol hope all is well with you too otherwise?
https://www.investopedia.com/terms/p/papertrade.asp
You should search youtube for different trading styles.
Buy and Hold / Day Trade / Swing Trade / Income vs Dividend Stocks
If this is too much work, then search youtube for ETF Index Funds.
Fantastic, thanks so much bro!
17/180
Day 17 ON - June 4 - ON #2 - part 1
In bed 7.08am just can't sleep. Playing sub and first minute or 3 felt I think some rush but nothing since.
(06-03-2021, 05:56 PM)Jake2015 Wrote: [ -> ] (06-03-2021, 05:31 PM)CatMan Wrote: [ -> ]I'd recommend paper trading for awhile before ever investing with real money. Build your circle of competence in an area, the smaller the better to start. See the results through your paper trading, then execute in real life. Getting over the possible psychological turmoil of being in the market takes experience, though. Learning to not let the waves of emotion throughout the market sway you, will help you massively. That you can't train for, it just has to be developed over time.
And of course never invest money you need, or aren't prepared to lose.
Hope you're doing good with things otherwise.
Whats paper trading? is there any game/app that allows you to trade without actually using real money at all?
Thank you for the advice bro!
yeah all is well just always journalling and hoping more execution becomes evident for me lol hope all is well with you too otherwise?
Paper trading is a term that means you make a portfolio yourself, set aside the money in pretend to buy x number of shares that you wanted to invest in, and then watch how they perform. It's a simulation of actual investing, not actually investing. It's done to learn how to pick things to invest in, to understand the market etc. I suggested it because investing before such a period of learning usually results in losses, frustration etc.
Re investing... I only buy stocks I am willing to hold for at least 10 years. It gets rid of the short term noise and gives a much better chance of return.
Id like to see what happens when you do 2 loops a day 2 days on 2 days off.
(06-04-2021, 04:05 AM)CatMan Wrote: [ -> ] (06-03-2021, 05:56 PM)Jake2015 Wrote: [ -> ] (06-03-2021, 05:31 PM)CatMan Wrote: [ -> ]I'd recommend paper trading for awhile before ever investing with real money. Build your circle of competence in an area, the smaller the better to start. See the results through your paper trading, then execute in real life. Getting over the possible psychological turmoil of being in the market takes experience, though. Learning to not let the waves of emotion throughout the market sway you, will help you massively. That you can't train for, it just has to be developed over time.
And of course never invest money you need, or aren't prepared to lose.
Hope you're doing good with things otherwise.
Whats paper trading? is there any game/app that allows you to trade without actually using real money at all?
Thank you for the advice bro!
yeah all is well just always journalling and hoping more execution becomes evident for me lol hope all is well with you too otherwise?
Paper trading is a term that means you make a portfolio yourself, set aside the money in pretend to buy x number of shares that you wanted to invest in, and then watch how they perform. It's a simulation of actual investing, not actually investing. It's done to learn how to pick things to invest in, to understand the market etc. I suggested it because investing before such a period of learning usually results in losses, frustration etc.
Fantastic! thank you bro! Theres more to this then I realised. lol
As I asked @
4Kingdoms same question to you is there any app or anything where I can play the market as a game without using real money to learn?
(06-04-2021, 07:06 AM)Shannon Wrote: [ -> ]Re investing... I only buy stocks I am willing to hold for at least 10 years. It gets rid of the short term noise and gives a much better chance of return.
Id like to see what happens when you do 2 loops a day 2 days on 2 days off.
Thank you @
Shannon Yeah i was thinking that too maybe just leave it when I have more money spare for 10 years etc and see what happens. There so much hype around all this bitcoin stuff that im wondering whether to look into that too.
Ok bro ill start that now 2 days on and 2 days off
thank you
17/180
Day 17 ON - June 4 - ON #2 - part 2
Nothing new to report so far. I do feel more relaxed and calmer in general I THINK but like I said I really wanna see how I feel when I fly back and also once there abroad to see how my emotions feel. Ill be there from Monday.
As per shannon's instructions ill now be going to a "2 days ON and 2 Days off" cycle.
---
Just need to add this so I can keep an eye on where I am so please excuse this:
Day 1 On - Wednesday 19 May
Day 2 On - Thursday 20 May
Day 3 off - Fri 21 May
Day 4 off - Sat 22 May
Day 5 off - Sun 23 May
Day 6 ON - Mon 24 May
Day 7 ON - Tues 25 May
Day 8 OFF - Wed 26 May
Day 9 OFF - Thurs 27 May - today
Day 10 OFF - Fri 28 May
Day 11 ON - Sat 29 May
Day 12 ON - Sun 30 May
Day 13 Off - Monday 31 May
Day 14 Off - Tuesday 1 June
Day 15 Off - Wednesday 2 June
Day 16 On - Thursday 3 June
Day 17 On - Friday 4 June
- done so far - end of 2 days on and 3 days off. Now I shall be continuing with 2 days on and 2 days off.
Day 18 Off - Sat 5 June
Day 19 Off - Sun 6 June
Day 20 On - Mon 7 June
Day 21 On - Tues 8 June
Day 22 Off - Wed 9 June
Day 23 Off - Thurs 10 June
Day 24 On - Fri 11 June
Day 25 On - Sat 12 June
Day 26 Off - Sun 13 June
Day 27 Off - Mon 14 June
Day 28 On - Tues 15 June
Day 29 On - Wed 16 June
Day 30th OFF - Thursday 17 june
Day 31 OFF - Fri 18 June
(06-04-2021, 10:12 AM)Jake2015 Wrote: [ -> ] (06-04-2021, 07:06 AM)Shannon Wrote: [ -> ]Re investing... I only buy stocks I am willing to hold for at least 10 years. It gets rid of the short term noise and gives a much better chance of return.
Id like to see what happens when you do 2 loops a day 2 days on 2 days off.
Thank you @Shannon Yeah i was thinking that too maybe just leave it when I have more money spare for 10 years etc and see what happens. There so much hype around all this bitcoin stuff that im wondering whether to look into that too.
Ok bro ill start that now 2 days on and 2 days off thank you
If you're going to invest instead of gamble... that is, buy and hold for long periods of time... I would, in your shoes, seek disruptive new technologies that are going to change the world to consider. But if I were you, I would make good and sure I know everything I need to know before deciding who and what to invest in.
I would also look very carefully at the country those companies are based in. Some countries are better than others when it comes to long term investment.
I'm just about to start my own OF journal this evening so I enjoyed reading your experiences so far.
With regards to investing I would get a copy of 'The naked trader' by Robbie Burns (Its entertaining & full of the basic info you need to start investing (you can read a sample on amazon or google books) & if you are serious about investing consider subscribing to a service such as Stockopedia.
(06-04-2021, 12:11 PM)Shannon Wrote: [ -> ] (06-04-2021, 10:12 AM)Jake2015 Wrote: [ -> ] (06-04-2021, 07:06 AM)Shannon Wrote: [ -> ]Re investing... I only buy stocks I am willing to hold for at least 10 years. It gets rid of the short term noise and gives a much better chance of return.
Id like to see what happens when you do 2 loops a day 2 days on 2 days off.
Thank you @Shannon Yeah i was thinking that too maybe just leave it when I have more money spare for 10 years etc and see what happens. There so much hype around all this bitcoin stuff that im wondering whether to look into that too.
Ok bro ill start that now 2 days on and 2 days off thank you
If you're going to invest instead of gamble... that is, buy and hold for long periods of time... I would, in your shoes, seek disruptive new technologies that are going to change the world to consider. But if I were you, I would make good and sure I know everything I need to know before deciding who and what to invest in.
I would also look very carefully at the country those companies are based in. Some countries are better than others when it comes to long term investment.
Thanks @
Shannon ill need to really do my learning on all this and what are those disruptive new technologies you speak of that you would invest in that will change the world?