To The Moon

Start of my investing journey:                           I began my investment journey because I wanted to make money fast. I wanted to do it because I remember feeling low at that time and wanted to make more money quickly. Boy was this a bad move.

With that impulse and the belief that buying stocks meant instant money (note that this was on the back of the stock rise in Jan where prices were sky high and the situation in Ukraine was not boiling), I looked upon the menu of stocks like a boy in a candy shop. 

I remember trying to buy what I had heard about: Xxx is good? Ok I'll buy it! Yyyy is even better? Wow I'll buy it!

Boy was that a big mistake! Not only that, each time when I bought, I was expecting the price to rise. Well it did, for 5 min... Then it fell. Within the 1st 3 days, I was looking at a $800 loss. It may not seem much to many, but trust me, it hurt. The worst thing is that I continued buy, price dropped and I sold. 

I learnt 2 things from this.

1. Just because a stock is attractive (meaning the price is moving up and more and more people are jumping on the bandwagon) doesn't meant you should buy it. If anything, the price word already be at its peak by then.

2. It's not good to be a speculator. Holding a stock and timing the buy/sell time is... Not a good thing. You'd have to be very lucky (which I'm not. Heck I'm not even good). In fact, I've read that holding a stock for a longer period makes you more money than trying to time the market. I've not made any profit yet and I'm still holding. Let's hope it works.

To my journey (and yours) and beyond!