Successful Stock Investing 101
After many grueling hours of research about my future stock investing and trading strategy, I have finally come to an easy conclusion. No matter what stock I choose to invest in, it has to be one of the best rated stocks. I mean I know that many people will speculate and will say that there is value in stocks that are hated by the masses. This may be true some of the time. However, just like a bad boyfriend, most of your friends and family will be able to tell you right away when he is not good for you. Same goes for investments. Most bad stocks are obviously bad and rated accordingly by the crowd and the popular analysts.
Although I am a rebellious person by nature, I actually do not want to play hard ball with my hard earned money. So I am going to choose only the best rated stocks and buy them on sale and just wait until they go back up. This way not matter what happens, in the long run I can get my money back.
Now I have not tested this strategy as of yet and I am wary a bit due to all the risks involved. However, I am willing to take my chances and go for it. I will let you know how I am doing going forward.
The stocks I select cannot be cheap and certainly I cannot afford too expensive. Now I know people say you should think very long term. However, I am not a very long term trader. Things are just too unstable nowadays to do that. In the ideal world perhaps we could just come up with this great portfolio of stocks that will endlessly go up in price and just sit on it. However, these days I do not think you can get rich that way and getting rich is my ultimate goal.
While I cannot afford to be a day trader just yet, I am definitely looking forward to the days when twenty five thousand dollars will mean nothing to me. At that point I believe I will be ready to quit my job and be on my way to financial freedom forever.