One year ago today, I opened an account with COL Financial and never looked back. I put money into my account whenever possible. It wasn’t on a regular basis, but I made sure to reach a certain amount before I celebrate my first year as a direct stock market investor. What do you know, I did it!
Somehow, I feel quite accomplished and empowered knowing that I have started taking the journey to financial freedom. I am still far from it, perhaps several years far, but my inner self tells me I’ll get there one day. And so I continue to believe in and work to realize my goal.
The stock market in the past months has been down and sluggish. A bear market, as experts would say. You know what I did during that time? I limited the time I spent checking my stocks portfolio online. I would just take a peek at the end of trading day, and that’s it. I also bought stocks when I had money to “average down.”
Here are some of the things I learned as I continue to traverse the risky world of the Philippine stock market:
1. Never give up. It’s not always a happy day. Expect to see more reds (losses) than greens (gains) especially when the market is down. Nothing lasts forever, anyway. Soon, stock prices will go up once again and things will be better.
2. Look for other investment options. Just like time, diversification is your friend in investing. There are tons of ways to grow your money. You just have to find out for yourself which ones are the best for you. Choose wisely all the time.
3. Invest long term to reduce risks. Don’t be so bothered if you’re losing money on the first year, the succeeding years might just surprise you. As long as you believe in the companies in your stocks portfolio (i.e. their fundamentals are okay), then you have nothing to worry about.
4. Be in the loop. Knowing what’s happening in both local and global business community is very important. You don’t want to lose your money without a fight, do you? As an investor, it’s a must that you are well-informed, unless you are paying other people to do the researching for you. But no, actually, even if you are paying someone to do it for you, you should still have a good grasp of everything concerning your investments.
You may be wondering how I’m doing after a year as an investor. Well, I’m still here. My paper profit (unrealized capital gain) is currently lesser than it used to be last December, but that’s okay. It will recover soon. Call it intuition or pride or secret knowledge or whatever, I just know it will. 😉
Check out my previous posts in this series: