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Originally Posted by yoopersmith  I like that attitude...just dive-in, that rocks!!!
I have a couple of questions before I dispense my "advice":
1 - How's Okinawa? I've been all over mainland Japan, but never been there.
2 - Are are all your trades "commission free" for 45 days? Just to be clear.
Ok on to advice. First again, congrats on jumping in, that takes courage. Next, as you are playing around with the stock market and learning your lessons and getting experience, I offer some things for you to think about.
1 - Taxes. I don't know where you pay your taxes, but if you pay american income tax, you need to be aware that you are taxed on all gains that you get in the stock market. Long Term sales (stocks that you hold for 1 year + 1 day) are taxed at a lower rate then short term sales (any stock that you sell after holding any time period less than 1 year + 1 day).
2. For some fun and insightful lessons on the stock market, you might want to check out Fool.com: Investing, Stock Research, and Personal Finance and search on "Fool's School". This is where I learned everything about money and investing.
Have fun, and let us all know what you learn and how much you earn!!! |
Hi yoopersmith
I think 'diving right in' in some areas of your life are good, but believe me I have seen it a million times, diving right in buying shares without proper research is a sure way to lose money.
You only need to posit the question- Why did I buy that share?- To understand how little many people know what they have done with their money.
Do they understand the cash position of the company? Its cash flow? Its order book? Its industry outlook? Its board or owners? Its market share? Its price eranings ratio? Have you looked over the company accounts etc etc
If you havent done all of these and more then throwing a dart at the stcok listings in the Financial Times is about as good a strategy as any!