Yesterday, 1-11-11, I bought my very first stocks. No, I didn't deliberately do it on the eleventh of January, it was just a pure coincidence. I just happened to realize after that it was 1-11-11. There was nothing extraordinary about the date.
I funded my CitisecOnline account on January 6 and it was credited last Monday. I took the time to familiarize myself with COL's interface and then the next day Tuesday, I bought my first stocks.
I bought stocks of Ayala Land, Inc (ALI), Bank of the Philippine Islands (BPI), Jollibee Foods Corporation (JFC), SM Prime Holdings, Inc. (SMPH), and Manila Water Co. (MWC). I was supposed to buy PLDT (TEL) stocks but I didn't have enough buying power left. PLDT stocks was at 2,500 and I'm not sure if I should have bought it first over the others but I just decided to buy PLDT stocks next month.
I used to think that the stock market was dangerous, very, very dangerous, especially for first-timers like me. But, thanks to my mentor, Bo Sanchez, for opening up my eyes on how stocks investing, not stocks trading, can help me realize my financial dreams.
Stocks trading really is d-a-n-g-e-r-o-u-s, but not stocks investing.
Trading stocks and investing in stocks are two different things. Trading stocks is short-term while investing in stocks is long term. Trading stocks is buying stocks and selling them within a day or a few days. It works for traders who study the stock market like eight hours a day.
When you trade stocks, you do not look at how strong the company is. Any company is game - even those what they call "penny" stocks.
Ordinary people like you and me should leave stocks trading or speculating to the experts. Ordinary people like you and me should do stocks investing instead, and we should be fine.
When you do stocks investing, you buy shares of great, solid companies over a 10- to 20-year period. And with COL's EIP program, you don't look whether the price is up or down, just buy shares regularly each month, quarter, or year, doing money cost averaging. And after ten or twenty years, you retire rich and a millionaire.
Now, who says I can't retire rich and a millionaire? I say I can. I believe I can.