the reason I can’t speculate & get rich in a blink
the complete tittle is, I know it’s too long,
“the reason I cannot speculate and get rich in a blink by investing in stock”.
Answering Oskar reply in one of my post, he advised to invest in technology stock for 2-3 weeks, then I suppose after that, I shall sell those shares.
As a small investor like me, I can’t play with the market. Investing in tech stock could be interesting, when you know its move, the latest news about new tech product, etc., apart that in general, stocks are volatiles (means risk).
I’m a worker, I don’t have enough time to track all news/rumours about the markets or one stock in particular at the same time the price is up or down, beside I don’t use personal broker to advice me.
So forget about getting cash fastly from investing, at least for a person like me.
If I had to invest in that short term (let say in a month), the stock price I bought must be rocketed a lot!
As I say, every transaction cost me 15 euros + 0.25% on cash (they don’t charge me for custody nor dividend), this really isn’t that cheap. The stock price has to be running up fastly if I have to sell them in a month to cover 30 euros + 0.50% on cash - cost. And I don’t think there is such an opportunity- I don’t follow the market minute by minute.
One example, my mistake (or maybe not- let see about that), my stock in tech sector is doing pretty slow, due to uninspiring quarter result of the company plus a problem in technology it self in their product, and finally, due to economic slow down in US that effect technology sector (less investment in technology).
What should I do now? I bought the stock cheap enough, but now it prices is getting down. Of course I don’t sell them because I’ll loss if I sell it at lower price that I bought, secondly I loss money from the comission they’ll (bank/broker) charged me.
What I do is wait, a couple of months, see if the price gets better and then sell it (even if I don’t like this option, I’m still considering it). Or I could hold on to them and considering it as a long term investment, say 1 or 2 years.
My principle is that do not sell your shares when it’s cheap! and do not let your self influenced by a temperamental Mr. Market (that’s what I learned from you know who).
There is another way you accumulate stock by buying it part by part, but I don’t agree with this.
First because of commision that they’ll charge you, you must remember that every transaction has a cost. So I think it’s better to buy it in one time. If I have more money, I guess I won’t buy the same stock (not if the price is undervalued/best priced), I’ll consider other stocks from difference sector.
As I say, I’m still learning, I could make mistake, but I manage to make it the least, I hope!
