Monday, December 01, 2008
Lessons that I learned in Stock Market
Finally lost almost 40% of my money in Stock Market !!
My dad gave me his hard earned money of 50,000 bucks to me(which he got as pension fund). As I was doing project in a brokerage firm, I planned to invest the money in stock market, without much experience in stocks, I just entered into stock market by reading just basic concept in stock market esp tips given in Orkut and in some sites.
When I entered, Sensex was at 13000, but now its been slashed to 9000. Initially I was making profit of around 5% but over a period of time and due to this economic credit crisis, the market is been beated like anything.
So, Moral of the story:
I am not worried that I lost 40% of my money, but I am happy that I got new experience in stock market and got much knowledge about the current affairs. I understood all these financial terms - REPO RATE, SLR, etc only after entering into the stock market.
My piece of advice to young Investor:
1. Never do intraday trading = you will gain 1 rupee but will loose 2 rupee the very next day
2. You may do trading on tips, but try to analyse why the tip is given. And find out the reason before buying a scrip.
After all human being learn from his mistake!!
And I am sure that I will regain the money that I lost in stock market within few years!!
My dad gave me his hard earned money of 50,000 bucks to me(which he got as pension fund). As I was doing project in a brokerage firm, I planned to invest the money in stock market, without much experience in stocks, I just entered into stock market by reading just basic concept in stock market esp tips given in Orkut and in some sites.
When I entered, Sensex was at 13000, but now its been slashed to 9000. Initially I was making profit of around 5% but over a period of time and due to this economic credit crisis, the market is been beated like anything.
So, Moral of the story:
I am not worried that I lost 40% of my money, but I am happy that I got new experience in stock market and got much knowledge about the current affairs. I understood all these financial terms - REPO RATE, SLR, etc only after entering into the stock market.
My piece of advice to young Investor:
1. Never do intraday trading = you will gain 1 rupee but will loose 2 rupee the very next day
2. You may do trading on tips, but try to analyse why the tip is given. And find out the reason before buying a scrip.
After all human being learn from his mistake!!
And I am sure that I will regain the money that I lost in stock market within few years!!
