starting out?, page-2

Hey Buckley, I'm sure there are many on here either that can personally relate to your story, or have sons/daughters who are also keen to get into the stock market.

I'm not too old myself and I often remind myself that the stock market will always be there for the rest of your life. There is no need to rush into something if you don't fully understand how it works.

My advice would be to perhaps look elsewhere away from the stock market for making some profits in the next few months. This is for a few reasons.

1. The stock market has a steep learning curve, and shouldn't be used for 'quick profits' if you don't have experience with what you're trying to achieve.

2. Working part-time could earn you upwards of $300+ per week anyways. In 6 months you could accumulate $5000+ for your holiday. You might say, "well I don't want to work more hours." My response to that is the amount of hours you should be putting into reasearching your investments is comparible to a part-time job.

3. You won't neccessarily make profits even if you think you are onto a 'sure thing'.

4. There is an old adage that to make money, you must first lose money. I infact have learnt this myself. And it took me a good while to finally come to terms with what is a 'good company', instead of what is a 'hyped company.'

5. At the tender age of 17, you could fall into the trap of trying to buy every talked about stock on HotCopper. Many stocks have posters clutching straws at their stocks becoming overnight multi-baggers. It is quite easy to fall into the trap of these sorts of discussions. Take the discussions on Hotcopper with a grain of salt, but don't take every word you read on here as 'gospel truth'.

Anyways thats enough from me. Good luck with your endeavours to save up for your holiday.