How to Get Started on Investing?
I am a 23yr old student from India. I want to learn the basics of investments, how to build passive and portfolio income. Any suggestions?
2 comments
Do you have any income to start out with?
I’d say to start off trying to buy and sell crypto on an exchange for profit: no fancy maneuvers like shorting or trading with leverage. Your risk of loss would be limited to the sum you invest.
It’s a 24/7 market so you can practice anytime, and you can start with a small bit of money.
Do that for a while and learn how to read a chart, learn financial terminology, see how daily news affects the markets, see how the rumor-mill online works, and get a handle on basic trading psychology like keeping your fear and greed in check in good or bad moments.
Eventually you’ll run into a learning roadblock and will look to bigger and better things. Maybe afterwards you’ll look into stocks or more advanced trading maneuvers.
I’d say to start off trying to buy and sell crypto on an exchange for profit: no fancy maneuvers like shorting or trading with leverage. Your risk of loss would be limited to the sum you invest.
It’s a 24/7 market so you can practice anytime, and you can start with a small bit of money.
Do that for a while and learn how to read a chart, learn financial terminology, see how daily news affects the markets, see how the rumor-mill online works, and get a handle on basic trading psychology like keeping your fear and greed in check in good or bad moments.
Eventually you’ll run into a learning roadblock and will look to bigger and better things. Maybe afterwards you’ll look into stocks or more advanced trading maneuvers.
Investing for income typically involves small returns on large amounts of capital, so the way to start is with a large amount of capital.
Investing for capital growth typically involves long time frames between initial investment and a terminal liquidation payday, so the way to start is with an independent source of income to tide you over between the two events.
Investing for capital growth typically involves long time frames between initial investment and a terminal liquidation payday, so the way to start is with an independent source of income to tide you over between the two events.