Hello steemit community,
I am a sixteen year old for the last two years i have been investing not only in cryptocurrency but in stocks, bonds, etc without any outside help (except for my father using his info to sign me up). I'm usually a long term investor but sometimes i panic sell and impulsively buy. My first buy was Twitter, inc i bought in at $18 and put around $100 but sold two days later because of financial news i heard and i was scared to lose money so i panic sold lost around $25 ever since i've told my self never sell at a loss and hold for at least 3 months and its been working in my favor. I just got a job and have been investing half of my paycheck each paycheck and saving the other half because i can lose all my money in a flash if i'm not careful especially with cryptocurrency which I've been investing in more but i haveknow about bitcoin etc.. since late 2014 so I'm used to the price fluctuations and my friends have recently been saying "told you not to put money in bitcoin" but i know better than to listen to them because they don't even invest so their opinions don't matter. I've made a good sum of money from crypto and have been using it to diversify my full portfolio. I have come here looking for more financial advice because i know there lots of adults who have years on me and i would like to make investing a lifelong goal. One of the goals i m look forward to in real state investing because that's what moves the economy because there will always be people searching for real estate.
P.S i didn't sell anything during this correction(cryptocurrency)
Thanks in advance
I would say: read a lot :). There are quite a few accessible books (I mean: books you will actually read ;) ) that have some valuable information.
I would say: start for instance with 'the little book of common sense investing'.
You'll find other 'little books' interesting too... Easy reads, easy starting points...
What do you see as 'long term'? Months? Years? Decades?
Have a look at the long term evolution of the stock market.. Long term probably means 'decades' before you can say 'the stock market always goes up'.
Have a look at systematic investing: frequently invest an amount of money. Whether stocks go up or down, keep on investing that... Sounds easy but sentiment makes it harder than you would think.
Be very careful with stock ( or crypto) picking.
No one here can guarantee a certain stock or crypto coin will be a good investment in the long term.
We all assume that blockchain / crypto currencies are here to stay. Though no one can tell which crypto currencies will still be here in ten years...
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you dont need *any advice it seems like you got the idea i think you should keep doing what your doing and be weary of financial advice.
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