So you're considering putting together a trading or investing plan for stocks or options, or just jumping into it without a plan.... or maybe just leaving your money with and "adviser" and letting him or her take care of it for you? But consider this: Did you know that most high-priced "financial advisers" do WORSE than the overall market (the S&P 500)? And they charge hefty fees for this "service"... It's detrimental to the clients but it's perfectly legal and happens all the time. You'll actually do better than most of those high-priced "advisers" if you do it yourself, and you won't have to cough up massive fees (and many of these fees are "hidden" fees too).
But if you choose to do it yourself, you need to have an investing plan; otherwise you'll be putting your money at risk with random trades. Having a plan means knowing what stocks to buy and WHY you're buying those stocks at the particular time you're buying them; when to buy them and, just as importantly, when to sell them; what to do when a stock trade or investment moves against you; how to read stock charts and price movement; managing your emotions when trading or investing; making sure that you're "hedged" properly so that your potential losses are limited and so you can sleep soundly at night; and other factors. If you're "looking to dabble in the stock market a little bit," that's not a plan -- it's a way to lose money if you don't know exactly what you're doing and why you're doing it.
You can view my trading/investing YouTube videos here: https://www.youtube.com/c/davidmoadel/videos
(Not a licensed or registered investment adviser. For informational purposes only; not intended as investment advice. Please conduct your own research before making any trades or investments.)
But if you choose to do it yourself, you need to have an investing plan; otherwise you'll be putting your money at risk with random trades. Having a plan means knowing what stocks to buy and WHY you're buying those stocks at the particular time you're buying them; when to buy them and, just as importantly, when to sell them; what to do when a stock trade or investment moves against you; how to read stock charts and price movement; managing your emotions when trading or investing; making sure that you're "hedged" properly so that your potential losses are limited and so you can sleep soundly at night; and other factors. If you're "looking to dabble in the stock market a little bit," that's not a plan -- it's a way to lose money if you don't know exactly what you're doing and why you're doing it.
You can view my trading/investing YouTube videos here: https://www.youtube.com/c/davidmoadel/videos
(Not a licensed or registered investment adviser. For informational purposes only; not intended as investment advice. Please conduct your own research before making any trades or investments.)
