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Welcome to the World of the Stock Market
Most people do not take full advantage of the stock market. Whether it be because they dont have the necessary amount of NPs to invest in order to see a big enough return, or they just can't spare the time needed to let their investments grow.
If you want to be successful in the Stock Market, I would recommend that you have AT LEST 100k that you will not be needing anytime soon. Once you invest, you need to leave your money there for the long haul, trust me....your patience will be rewarded and you will become a multi-millionaire in no time.
The main idea behind becoming rich in the stock market is:
Buy Low - Sell High
There is no way to track what "Low" and "High" are one Neo though. So, I would recommend that before you buy a stock, look it up on Neodaq.info. This site tracks the stocks as they update (every 30 mins).
Knowing a stocks history can help you better predict its future.
Tips For Buying
When you are ready to start buying stocks, there are a few tips you may want to keep in mind:
-Buy stocks that are around the 15-20Nps range. These stocks are cheaper and are your best bet if you are looking to make a long term investment
-Diversify the stocks that you own. A diverse portfolio allows for you to make NPs if one stock goes up while another goes down. You dont want to put all your NPs in one stock and hope for the best
-Buy at least 500 shares of stock during each transaction. You are only allowed to purchse 1000 shares per day, but for each transaction, there is going to be a fee. Minimize the fee you have to pay by buying in bulk
Tips for Selling
When you are ready to sell your stocks, consider the following:
-NEVER sell at a loss. If your stock is lower than the initial purchase price, just wait. Dont sell...no matter how tempted you are. The stock will go back up with time and you will be back into a profitable range
-Set a goal for your stocks. By setting goals as to where you want your stocks to be when you sell, you discipline yourself to be a careful investor. A good goal would be to buy at 15-20 NPs and sell at 30-40NPs
Stock Market Lingo
Ticker
Ticker Symbols are groups of two to four letters which represent the abbreviation or acronym of a certain company.
Company
This column states the whole company name (what the Ticker Symbols mean).
Volume
This is the number of shares that have been bought and sold so far in a single day. This number can be used to tell which stocks are more favorable among other neopets users.
Open
This shows the opening price of the stock, or simply how much the stocks cost at the start of midnight NST.
Curr
This shows the current price of a particular stock. This changes every 30 minutes, and is essential in making decisions when investing. Through this, you can keep track on how the prices of stocks increase or decrease.
Change
This shows the percentage of the company's loss or gain in a day. It is generally better to buy stocks that have negative percentage (decrease in price), because there's a high probability that its price will increase again later on, so you can sell them for higher price.
Good Luck, and Happy Investing!!
-Andrew
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