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I am trying the stock market starting today – Track my money making progress!

Posted Friday, October 26, 2007 by momscashblog | 9 Comments so far

Try The Stock Market

Okay, never in a million years did I think that I would ever try my hand at the stock market. Why…you ask? Well simply put, it is very intimidating to me and I think it is to a lot of other people as well. My thoughts on the stock market have always been: You have to be rich to play the stock market, you have to be well educated on stocks and such and you won’t make much if you don’t have much to put in. I also thought that you had to have a lot of time. After weeks of debate and concern, I have finally decided to go for it, yeah! I have tried to get “stock smart” in just a few weeks and well…I have decided it doesn’t nessicarily work that way for people wanting to get into stocks that don’t want to risk all of their money. If we are only putting in a few hundred (under a thousand dollars) than we don’t have too much to worry about. I guess it is different when you are playing with your life savings or half of a million dollars right?! Okay so here is where it gets cool for you. I am going to keep you updated on my progress daily. I think this is cool, because as a stock newbie myself I have tried to find someone online that has a blog about beginning stocks and their loss/gains but no such thing exists. At least I can’t find one. So here I am. I know VERY little about stocks or the market, however I know that it is a game of chance and you really can make money off of it. I got really motivated and decided to make the plunge after my friend told me about a recent small cap stock (that pretty much means a stock that is new or cheap to buy in) he had bought.  I guess at one point you could have even called it a penny stock, because it opened at like .50 cents per share in early September. It is now at $1.70 ish and has a lot more potential. Well considering it is one month later and the stock has tripled in price…I got excited. He had invested $1,000 of his money into that stock (SPKL is the stock symbol by the way.) Now he has made about $2,000 profit. OH MY GOSH, okay so he got lucky I thought…But not really. He did a little research, took a chance and now ONLY one month later he has tripled his money that he invested. I kept watching him make this money and he kept urging me to buy…but I didn’t until now. A few days ago I went into Scottstrade and gave them $500 cash (this is the lowest amount of money that they will accept as a deposit to open an account) and it was really easy. They said that my funds would be available the next day and I could start buying/trading stocks online as early as noon o’clock. Awesome, I couldn’t wait and I was really mad at myself, because this was way too easy so far! I didn’t think you could join the stock market game for $500. Yeah, in a sense that is a lot to some of us BUT it can be worth a lot more with smart choices. And I am not saying that every investment I make will be a smart one, but we will hope for the best ‘eh! Okay, so now I had my new Scottstrade account, my $500 deposit (funds available) and I was unsure of what to buy at this point. I honestly was afraid to buy into my friends choice of Spicky Pickle stock (SPKL) because it had gained so much, so quickly…and it was a new stock. I have noticed that when a stock hits the market for the first time, buyers/investors eat it up. Well they surely ate that up and I wasn’t quite sure I had enough faith to put my eggs into that basket quite yet. However, I do still think that they have a lot of potential. Just read about them and you’ll see what I mean. They have been plans, a good business model and they show room for success. I will watch them and also include them in my daily stock market reports here. That way I can play “what if I would have invested” and see if I would have made or lost money. That sounds fun huh?! Okay…so mving along with what I decided to buy. Here it goes, here are the stocks I decided to buy this morning 10/26/2007. I bought into 4 different companies and they are PGIC, LLNW, HYBT and UBET (these are all symbols for the stocks.) I am going to end this post here and start a new one with details about each stock, how many shares of each I bought and the current stock prices per company. Then we will track my stock progress online daily together – Right here on my blog. I hope to be a success with little knowledge and a little investment for all of those who also want to try out stocks…but seem to think that they don’t have enough time, money or skills to do so. We will see, lets go make some money and learn together…Until next time.     

~Krysti~


Comments
NasytMcT November 23rd, 2007 (12:39 am)
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Silver!!! Gold too, but it’s a bit pricy right now. Get some silver…

orisha January 21st, 2008 (5:45 am)
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love this idea of yours.I am interested in reading ur daily reports.

Tradermom March 15th, 2008 (11:04 pm)
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This is so cool that I found your blog. I’m a mother also and I’m just learning to trade in the stock market also. I really want to do it because I’ve heard a lot of good about it. I signed up for a membership to http://www.thestockmarketreport.com, and I have a blog in their community where I’m tracking my progress.

Let’s keep tabs on each other and help each other out!

Remmie July 8th, 2008 (10:00 pm)
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I had a blog with currency trading, but blew account after I hit my first 10Grand

Remmie July 8th, 2008 (10:04 pm)
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So K, how are you doing, update us? IM currently trading currency again, under tighter management control! Doing well at the moment, but got a lot to make up.

Brandi July 30th, 2008 (2:16 am)
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You MUST Try this stock market game. Hey I am a mom of three and Im about to invest in some mortgage stocks. Im not about to waste my money before I try it on a stock simulator. The game is easy, educational, and has me convinced that I will make money when I decide to go ahead and actually buy the stock.

Brandi July 30th, 2008 (2:18 am)
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http://gotmineforless.com/blog/?p=40

There is more info on the stock market game!!

farouk November 23rd, 2008 (4:54 pm)
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i strongly recommend that everyone keeps his stocks and not to sell them now

Rolando March 7th, 2013 (4:05 pm)
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What’s up friends, its enormous piece of writing concerning tutoringand entirely defined, keep it up all the time.

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