INVESTING: Buying Shares checklist (printable)
Buying shares of companies used to only be for the wealthy who understood the intricacies of the stock markets. Over time, the dynamic has shifted and now anyone who has a hundred dollars or more can truly be involved in buying and selling of shares. Below are some guiding principles when buying shares:
1. Set up an account with a stock broker. Most people use online stock brokerages
2. Decide how much money you have to invest
3. Determine what your goals are with buying stocks
4. Find a stock you want to purchase
5. Place your order – market or limit
6. Monitor your investment
7. Decide when is the right time to sell BEFORE you buy. Experienced traders say it is much more important to decide when to get OUT than when to get IN.
8. Lastly, never let emotion dictate your buying and selling.
9. Recommended reading (not sponsored) for beginners and experienced private traders: Elder: "Come Into My Trading Room" and Tharpe: "Trade Your Way to Financial Freedom". For professionals: Reilly: "Investment Analysis and Portfolio Management", Moynihan: "What I learned loosing a Million Dollars", Lofthouse: "Investment Management" and Shefrin: "Beyond Greed and Fear"
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