[harrymcwealth]

Patience.

"If you can't hold a stock for 10 years, don't even think about holding it for 10 minutes."
-Warren Buffett

Touche...

Losses to date: $1814 [in the stock market]

Just wanted to vent...AHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!

[mtd1523]

I'm in the same boat as you. I'm down around $1500, so don't feel bad. My problem was starting off too quickly without a plan. I am starting to get into Value Investing, which is what Warren Buffett does and the master was and is Benjamin Graham. If you aren't into value investing yet, I suggest you read and learn as much as you can about it. I believe value stocks (undervalued) are where the big profits are made.

If you would like to know of 2 companies that I think are undervalued, give me a PM so it doesn't look like I am soliciting stocks.

[jpomerenke]

Originally posted by harrymcwealth
Patience.

"If you can't hold a stock for 10 years, don't even think about holding it for 10 minutes."
-Warren Buffett

Touche...

Losses to date: $1814 [in the stock market]

Just wanted to vent...AHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!

You guys are investing. Who cares if you are down 1500ish. Worry about how much you are down 10-20-30 yrs down the road.

Warren buffet also says if you cant watch your investment lose at least 50% you shouldnt be investing.

I rember days when i traded that i lost 1500 in a few hrs. Try that

[mtd1523]

I never said I had a problem with being down anything at all. I don't know where you got that at, and you are right about worrying where we will be years down the road. That is why I don't care if I was down $1 or $1,000 today. I know that over time I am going to be picking other stocks that are going to go up.

But I'm glad you are so successful at everything you do.

[jpomerenke]

Originally posted by mtd1523
I never said I had a problem with being down anything at all. I don't know where you got that at, and you are right about worrying where we will be years down the road. That is why I don't care if I was down $1 or $1,000 today. I know that over time I am going to be picking other stocks that are going to go up.

But I'm glad you are so successful at everything you do.

When did i say i was successful?

[ericesquire]

Yeah...yikes, that sorta came out of nowhere!

Joey, we should find out how many are interested in investing here and perhaps start talking about some different stocks and make some trades.

[jpomerenke]

Originally posted by ericesquire
Yeah...yikes, that sorta came out of nowhere!

Joey, we should find out how many are interested in investing here and perhaps start talking about some different stocks and make some trades.

I dont have the time i used to to do it..... but i am more then willing to do it. Organize it and ill will be there

[LucasK]

I lost $4000 when I first started. Took me over three months to recoup that loss (with a part-time job). I haven't had the time to do much lately, although I occasionally spend weekends reading on it, and doing some paper trades.

[jpomerenke]

I think the #1 rule to investing is only invest waht you can afford to lose. It's as simple as that.

Obvioulsy each investment will be different. If you invest in some sort of startup or smaller company the risk is going to be worse then investing in like a coca cola, etc.

[harrymcwealth]

hahaha you guys are funny
only guys would argue about such a thing!
arguing about who lost more money, haha!
we should look at our mistakes and share our knowledge so that we may avoid them in the future.
i am aware with warren buffet's teachings, but i could stand to learn more, as can anyone!

[mtd1523]

I'll start with my advice that if someone is looking into the stock market, to not just jump in and start buying. Make sure to have a strategy first. I prefer Value Investing and would recommend that. And also read as much as you can about the strategy you want to use, and stick to it. Be disciplined.

Also, one of the biggest words of stock market advice is to figure out your cash position and then divide that into how many companies you want to own.

For example, if you have $10,000, you can take $1,000 and buy as many shares as you can in 10 companies or take $2,000 and buy as many shares as you can in 5 companies.

Another example, say MSFT is trading at $20.00, you take $1,000 and that would buy 50 shares. (1000/20)=50

Doing this would balance your portfolio.

If I would have done that when I first started I would be well ahead of my original investment and I when I first calculated it, I would have had 451 more shares in my portfolio. I am slowly starting to reform my portfolio to meet that dollar/share amount.

2 Books I suggest are The Intelligent Investor by Benjamin Graham and The Warren Buffett Way by Hagstrom.