In my previous post, I coined the phrase/hashtag #LearnAbout. For me, it is a great remedy for stagnation. It is my method of learning about new topics in order to forget about old issues.
My exploration of the stock market is my recent #LearnAbout. Even though it kept me from posting on this blog for over a week, it got my creative juices flowing again. This post results from those creative juices lubricating my keyboard.
My Stock Market Adventure went like this.
About a week ago, Ma (my wife and best friend, Cheryl) and I were talking about her stock purchases through her employer. As she shared her positive observations I got to thinking about giving the stock market another look. However, being retired I knew that I would have to invest on my own.
For many years I harbored negative feelings about the stock market. Bad experiences brought me to the conclusion that investing in stocks was a scam, promoted by the rich. The scam transferred money out of my savings and into the wallet of some rich jerk.
The experiences that brought me to that conclusions were incompetent financial advisers who viewed my little portfolio as unworthy of their valuable time, and my own foolish trust in people to do my work for me. This time I would do my work and invest on my own terms.
First, I established a few guidelines for this #LearnAbout.
It had to be a risk I could live with if my efforts crapped out.
It had to be affordable to my limited budget.
It had to be a learning experience free of painful regrets.
The first stop on my adventure was a visit to my trusty search engine, Bing. It didn’t take long before I discovered a promising topic, Penny Stocks.
“By damn, they are talking my language. I can afford to invest lots of pennies.”
First eye-opener came next. Turns out that penny stocks are any stock costing $5.00 or less.
“Shitzels! In whose world are five dollar bills considered pennies? Damn sure not mine.”
Still, I determined to learn what I could, I decided five dollars or fewer was livable.
My next stop was a visit to Udemy.com where I selected a course by Jeff Tompkins, called “The Complete Guide to Online Stock Trading.” This turned out to be a great choice. The knowledge gained from this one course was far greater than the cost (less than $20).
As is often the case in Udemy courses, the instructor suggested a free resource where someone new to stock trading could learn by investing pretend money. The sixty-day free access was a huge educational experience, and one I am still enjoying.
After Jeff’s course, I enrolled in another Udemy course, “4 Strategies That Will Make You a Professional Day Trader.” I have to admit that Jerremy Newsome, the instructor was a little overwhelming for this old newbie. The first few lectures were like trying to drink from a fire-hose… a lot to take in.
About this time, I felt the desire to tip-toe into the market and try a few trades.
Eye-opener #2 came next. Here I discovered that “getting into the stock market” is a lot like buying into a high-stakes poker game. Turns out just setting up an account with a brokerage firm so I could buy some of those penny stocks would cost more than my ass is worth if I sold it by the pound.
“Holy, roasted rat nuts! You want $25,000 just to open an account? If I had that kind of money I wouldn’t be focused on penny stocks, for shit sakes.”
My enthusiasm deflated lower than a two-pound cat after gaging up a five-pound furball.
Desperate, but determined I sent my instructor Jerremy a message asking for advice. What I learned from his reply was a real shot-in-the-arm. He told me about a site where I could sign up for free and make transactions for free. Hell, this is unheard of in today’s greed soaked world.
Right now I am signing up for this site and giving the stock market a cautious try.
I will share my continuing journey of the #LearnAbout with you in a future post.
“Keep learning, growing, and laughing.”