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Switching my portfolio.

Discussion in 'Business & Economics' started by palefrost, Jul 17, 2006.

  1. palefrost

    palefrost Well-Known Member

    Jul 14, 2006
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    I have recently opened a savings account because I don't have enough practise in online trading yet, but I plan to switch my portfolio to some speculation as soon as I know a little bit more about investing.

    I would like to balanced my portfolio between all the financial solutions currently available in the market rather than focusing on a single investment only.

    Do you invest? Why did you prefer that solution rather than the stock market or similar?
  2. Brandon

    Brandon Well-Known Member

    Jul 3, 2006
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    While in the process of saving, I would read into the subject a bit. I have read over 100 trading books and out of all of them, there are less than 10 that are worth reading. Any book written by Alexander Elder and Van Tharp are above average. Two books that NO trader should be without are Reminiscences of a Stock Operator(Edwin Lefevre)and Winning on Wall Street(Martin Zweig).

    Depending on the amount of time you have to invest in learning about trading, diversifying is not all what it is cracked up to be. The less time you are able to watch your stocks the more diversified you should be. The reason being, diversifying spreads risk across multiple stocks. You don't want to spread the risk too thin. There is a maximum to diversifying as well. No one should own 50 stocks individually, unless you are able to explain why you own them in detail. The average investor will do well with any number under 10.

    I would recommend reading those books while you continue saving. I personally would not touch the market with anything less then 5K.
  3. sushimonster

    sushimonster Guest

    I will have to look into this topic. It sounds interesting. Although I am a little skeptical since the dot com crash (I wasn't investing then, so I wasn't hurt emotionally).
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