On the 2nd day of March my BDO and MBT shares gone up and decided to sell them to earn a profit for the first time,( actually when I open an account in BPITrade in stock my initial intention actually is to be an investor and not a stock trader). My first sales did open my eyes on the prospect of day trading as they call it. You buy stocks on a short period speculating it will goes up in a few days or weeks and then sold them to earn profit.
What is the difference between an investor and a stock trader?An investor invest his money in his favorite corporation for a long period of time, believing in the company's long term prospect for growth, whereas stock traders look for an opportunity to buy stocks of any corporation hoping that the value of said stock will move up in short term and then he can sold it for a profit.
Because of my initial success, it get me bolder to try trading stocks and purchase more shares diversing my portfolio as much as 10 different stocks. I got two more sales and means more profit. But because of my ignorance in the market, (I am trading in a bearish market since from the start), the prices some of my stock started to go down and I see it as an opportunity and buy some more to average my losses, again and again. This later I found out is a big NO NO specially during a BEAR MARKET!
Now, I am an INVESTOR.
And this is just a temporary setback in my newly found financial career...
As Arnold Schwarzeneggert says, " I'll BE BACK!"
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