2006-09-15 05:28:55 · 5 answers · asked by @@@Marty@@@ 1 in Business & Finance ➔ Investing
To be successful with shares you need 3 things;
1. Do your research. You have to know a lot about the companies you are buying. You have to keep up to date with news - typically that means at least one hour a week studying each company you buy shares in. Get a broadband connection and listen to the company results as they are broadcast on the net. Set stop losses for everything so that (for example) if a share price drops 5% in one afternoon your brokerage will automatically sell it for you. If you just buy shares and forget about them you'll find that you are the bagholder.
2. Experience. It took me at least 5 years before I started making serious money. Most successful investors have experienced at least one large loss - it is something you never forget & makes you do your research properly before every single buy or sale. You have to be able to recognise when it's stupid to bet against the market. You have to be able to spot the little signs that tell you a company is about to announce something disasterous. For anyone starting today I would recommend 12 to 18 months with a fantasy portfolio (ie: choosing shares but not risking real money) before you dive into the market.
3. Luck. Sorry to tell you this but luck is often what seperates the reasonable returns from the spectacular returns. Luck can work for you or luck can work against you.
My advice? Don't accept share tips over the net. You have no way of knowing the record of the person giving the recommendation. Spend at least 12 months practising with a fantasy portfolio. See what sort of returns you get. See if you can afford to spend a few hours each week reading the business news. Choose an investment management company and put some cash into OEIC's (unit trusts) while you doing that. At the end of the year compare the return you have made on your fantasy portfolio with the return your investment manager has made.
If you have beaten the professional investment manager you can start to buy shares. Start small. Don't risk money you can't afford to loose. Be very very careful. And remember to take profits. There is nothing worse than opening the paper one morning and finding out that company you had a 50% profit on has crashed overnight and your shares are now worthless. Believe me, it happens. 5 years ago I was an investor in Marconi, I lost a lot of money but I learned the lesson.
2006-09-15 06:02:53 · answer #1 · answered by popeleo5th 5 · 0⤊ 0⤋
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2006-09-15 12:33:56 · answer #2 · answered by Anonymous · 0⤊ 3⤋
You could do this to help make extra money...You can do online surveys. Here is the site I found, its legit and free to join, they PAY! Its a sure thing, no risk! :>)
http://www.*************/index.php?ref=21356
Hope this helps! :>)
2006-09-16 13:10:48 · answer #3 · answered by BerK 2 · 0⤊ 1⤋
I have tried and lost some money. it's pure luck
2006-09-15 12:30:38 · answer #4 · answered by Anonymous · 0⤊ 2⤋
shore what your job!
2006-09-15 12:34:15 · answer #5 · answered by ladyindia2005 2 · 0⤊ 1⤋