Ben: It all started when I was 18 and I opened my first trading account. So exciting! I put every last dollar I earned into that account and promptly lost a good amount of it. Every loss was a learning experience and continues to be. I absorbed as much of the daily stock market news as I could. I studied charts, studied companies, read quarterly reports, read analyst reports — you name it.
Ben: It was right around the bottom of the housing market crash. If you looked at the news, you’d have thought we were in for a depression. But wherever I went, people were still buying groceries, going to the mall, going to amusement parks. I figured it was the perfect time to start.
Ben: I just dove right in. Traditional financial institutions have done a great job of making it seem like they’re the only ones who can do it and that the barrier to entry is too great for the average person. That’s simply not true at all. So I just got started and faced any hurdles as they came.
Ben: I’ve learned that there are no shortcuts. There is no magic stock. If something seems too good to be true, it usually is. I’ve learned that once you start fantasizing about imaginary future gains, it’s a good time to sell.
Ben: Truly, going slow and steady. In my opinion, there’s a reason people preach this: It has worked for most people over the longest time frame. Be sensible, be smart, be patient, be PRACTICAL. I can’t give you stock tips and anyone who does should be met with healthy skepticism.
Ben: Feeling proficient comes in waves for me. Sometimes I feel utterly clueless, which is a good indicator for me to step away and recollect myself. Other times I feel untouchable, which is…also a good indicator to step away and recollect myself. I’ve definitely experienced wins that made me feel like I’ve finally gotten a handle on things in the most simple way, which remarkably takes years to achieve. That is, the simple stuff is just a practice that takes years of honing.
Ben: I maintain a positive relationship with investing by respecting it and realizing I’m not some genius and that I don’t know more than whatever the market is dictating. Price is everything, despite what I might feel or think I know. I also keep my expectations at a healthy, low level.
Ben: I deal with it by staying nimble and open-minded. I try to consume as much information as I can handle to get a grasp on what the pros are thinking and position myself accordingly. What I know now that I wish I’d known when I started: Just slow down, relax, and breathe. Take your time.
