This is a question that I’ve seen many newbies asked and I don’t know if you should buy stocks or not. However, I know for sure if you don’t meet the following critieria, then you should not buy stocks.
1. Money – If you do not have at least $1,000 to invest, then you shouldn’t buy stock. If you want to swing trade, then the minimum requirement is $5,000
2. Money you are afford to lose – If you do not have the money that you are afford to lose, then don’t buy stocks. If you need the money for your kid’s college or for your retirement, then you should not buy stocks.
3. Lazy – If you are lazy, then you should not buy stocks. Buying stocks require you to stay focus, learn new things and doing research. If you are lazy, then you shouldn’t buy stocks.
4. Money management skills – If you can’t manage your money well, then don’t trade stocks as money management is a necessary skill that is needed to buy stocks.
5. Greedy & Fear – If you are greedy or fear, then don’t buy stocks. You will not be making money in the stock market if you are greedy or fearful.
6. Stubborn – If you are stubborn, then you should not buy stocks. I’ve seen many stubborn traders who’ve turn small losses into big losses, and turn big losses into bankrupt.
7. Basic Math – If you can’t do basic math such as adding and multiplying, then you should not trade stocks
That’s it for now, I will add more to the things when I come up with new ideas.
