Tuesday, October 23, 2007

I joined the world of volatility

In late 2006, I was fanatic about trading stocks in the market. Thanks to my financing fundamentals from the MBA degree. I got very motivated and opened a free trading account with Ameritrade in early 2007. At that time, I had more interest & less money to invest. So, I had to fetter my thoughts. However, I decided to continuously monitor and keep track of the economy and the market.

I personally felt that I've gained more skills & knowledge by keeping track of the market than by reading books. Though I cannot claim to be dexterous at trading stocks, I now have a decent understanding of the dynamics of the market.

In October 2007, I read Robert Kiyosaki's "Rich Dad Poor Dad" - a great eye opener. This book exhilarated my passion to invest in stocks. I decided to start trading stocks to improve my financial ingenuity.

I was looking at companies from different industries, reading analysts reports, reading press releases, analyzing the quarterly reports etc., I first thought of investing in eBay - thinking that eBay would announce good Q3 results & due to the holiday season they'll do well in Q4 also. The results from eBay was a bummer. They've to write-off some money to meet the obligations of the Skype deal. The stock didn't do well. I felt fortunate that I didn't invest in eBay :)

After a couple of days, I transferred $1K from my bank account and bought 32 Netgear (NTGR) stocks on 10/22/2007.

I have created this blog to keep track of the things that I learn during the process of developing my financial intelligence. Hopefully, this blog will be useful for others also (Too early to say this with just one posting!). I am hoping to update this during every trade that I make.

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