17yrs old. Inspired investor.
Ok, WSO asked me to introduce myself to I clicked the green box.
2 years ago I discovered Wall Street Survivor and invested virtual money on a real time market template. After making a 300% return I told myself "tell me I can't do this with real money?"
Well I set up an etrade account and discovered that its not always poppin as it did once on WSS. There aint no damn tooth fairy on wallstreet.
Since I opened an Etrade Ive been reading books and researching the market. I also have a few connections with local firms. Mr. Poma is the CEO of one of the biggest small-mid cap pensions in the area and he is giving me proper guidance to get into the finance scene.
Right now Im saving every penny to invest; I love doing it. There is so much to learn about investments and right now I know so little(a lot compared to my peers). I created a WSO to broaden my understanding of not only the market but also the job environment.
Ill be posting more specific questions in the future.
Ps- Being 17 and having a serious hard-on for investing it is very hard to find other people my age with similar interests. Do they exist?
If you're still in HighSchool and read this and also have similar interests comment or PM me, Im down to chat.
"very hard to find other people my age with similar interests. Do they exist?" No. Essentially not. But wait a year or two until you get into university and you will find enough to sink a ship.
Thanks man. I look forward to university!
Thanks man. I look forward to university!
There will be significantly more people interested in it after your HS' required econ class. I was lucky to have a close friend who enjoyed it thoroughly, but neither of us has extensive knowledge. Good luck!
-College freshman
As someone who became passionately interested in investing early on, I commend you for taking the initiative. Keep it up, save money to invest, and make sure not to bet the ranch as you learn about the game. You sound like you are on the right track.
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I was also interested in finance during HS luckily I went to school in an area where everyones parents worked on Wall Street so many of my friends were interested in finance as well. Having said that, its a long long rough road before you make some money in the markets with real money specially your own money.
It all comes down to psychology, when you were on WallStreet Survivor you played with "fake" currency, emotionally you were not attached to the outcome of your trades. Being emotionally unattached is a good thing, but the problems lies when investors begin to play with "scared money". Scared money is money that if you would loose it would affect you emotionally and or affect your life/cash flow, the last thing you want is to play with scared money. If you want to invest 5k you have to go into those trades being ok mentally with the fact that you can loose that 5k. The reason I mentioning is because above you stated you were saving up money to invest. At your age save your money to get through college not to gamble in the market with little knowledge.
I suggest you open up and account with TD Ameritrade and download their trading platform ThinkorSwim, it allows you to trade in real time with fake money. It also allows you to go back in time and trade on any given day.
Thank you for the advice. So far my experiences with etrade have allowed me to think more critically about different companies, I realize that cheap stocks are utter shit hands down. Many of these cheap stocks thrive off public opinion rather than company fundamentals....blah blah. Anyway, in terms of financing, I do put money into my etrade although I use the money for experimental investing and play around with stocks, a bit of options, and mess around with leveraged etfs. My contributions to my etrade arent making be unable to buy gas and food and I still have a savings account.
Thank you for the advice. So far my experiences with etrade have allowed me to think more critically about different companies, I realize that cheap stocks are utter shit hands down. Many of these cheap stocks thrive off public opinion rather than company fundamentals....blah blah. Anyway, in terms of financing, I do put money into my etrade although I use the money for experimental investing and play around with stocks, a bit of options, and mess around with leveraged etfs. My contributions to my etrade arent making be unable to buy gas and food and I still have a savings account.
You remind me of my 16/17 year old self. My advice is to be quiet and read as many greats as possible so when students start to have an interest in finance and investing you will blow them up.
Additionally, it will be frustrating as many students will ask very elementary questions all the way through University - be patient with them, they know no better (and the questions are always great mini tests).
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