Nationwide Property & Appraisal Services, one of the largest appraisal management companies in the nation, announced Friday the acquisition of Integrity Appraisal Management, a regional outfit in the South.
In recent months, merger and acquisition activity has boomed in the mortgage industry, as retail lenders, technology companies and other vendors have all been impacted by a tumultuous lending environment.
The company will be integrated into NPAS as a branch and Shawn Thompson, the current president of Integrity will oversee the division, per a press release. Further details, such as the price tag of the deal, were not disclosed.
NPAS, which is owned by investment firm Arcapita, has been on a tear of acquiring its competitors in recent years. Integrity brings the total number of AMC’s integrated into NPAS to six.
According to NPAS, the strategic vision behind the acquisition of Integrity was to “expand market reach, provide innovative solutions and enhance product/ service offerings, all centered around …. customer experience.”
“Integrity Appraisal Management’s unparalleled platform in Texas and surrounding southern states is due to their talented team,” said Sri Velamati, CEO of Nationwide Property & Appraisal Services in a written statement. “We are excited to grow the combined organization and offer our combined customer base a national platform with a regional experience.
Thompson noted that other AMCs approached him about potential partnerships but that he turned them away.
“We knew they were different from the first time we met with the executive team at NPAS,” he said in a written statement. “They have experience and a reputation of partnering with AMCs who share their values.”
NPAS was itself acquired in 2022 by Arcapita for an undisclosed amount.
At the time, an executive from the investment firm said that the company “is focused on acquiring asset-light business services and logistics companies.” NPAS, they said, has a “highly cash generative business, experienced management team, and strong base of clients across the country” which were factors that led to the company’s purchase.
This is the third part in a short series about insurance basics. In the first part, I explained how insurance works. In the second, I shared some general tips about how to save on insurance of all types. Today’s article offers info about auto insurance.
You’ve had car insurance since you were old enough to drive, but how much do you really know about it? At its heart, your policy probably contains a few basic types of coverage.
Liability Insurance
In most states, you at least need to have liability insurance, which covers the cost of any damage you do to other people or things with your car. (But note that liability insurance doesn’t cover injuries to you or other people on your policy; for that, you need PIP insurance, which I’ll cover in a moment.)
Insurance companies like to quote liability coverage as a series of three numbers, like 50/200/25. If that’s Greek to you, here’s a break-down:
The first number is how much, in thousands of dollars, the policy will pay for each person (besides you) injured in an accident ($50,000 in this example).
The second number is the total that the policy covers for each accident ($200,000 here).
And the last number tells how much property damage will be reimbursed ($25,000 in this case).
But there’s more to auto insurance than just liability coverage.
Tip: Many experts recommend that you carry automobile liability insurance coverage equal to your net worth — the total value of everything you own. This can be expensive to do on individual policies. Instead, it may be more cost effective to buy an umbrella policy, which gives you extra liability coverage above what your home and auto policies provide. I don’t know much about umbrella policies, but I’m actually hoping to learn more about them. If you’d like, I can share what I learn.
Collision and Comprehensive Insurance
As you can probably guess, collision insurance covers damage to your car when it hits (or gets hit by) another vehicle or object. But because collisions aren’t the only way for your car to get banged up, comprehensive insurance covers damage from events other than collisions: floods, fire, theft, alien invasion, and so on.
Collision and comprehensive coverage make more sense for newer vehicles, and are generally required if you’re still making payments on your car. They’re less necessary — and may actually be a waste of money! — on older cars. So, if you’re still driving around that 1970 AMC Gremlin, ditch the collision and comprehensive.
Personal Injury Protection (PIP) Insurance
PIP insurance is sometimes called “no-fault” insurance and is required in certain states. It covers medical costs (and possibly lost wages) if you’re injured in an accident. Your policy may also cover passengers and pedestrians.
Uninsured Motorist Insurance
No surprise here: Uninsured motorist insurance covers you and your passengers if you’re in an accident caused by a driver who doesn’t have insurance. It also covers hit-and-run accidents.
How to Save on Car Insurance
Every year, you spend hundreds — maybe even thousands — on car insurance, and chances are, you’re paying too much. The August 2008 issue of Consumer Reports estimated that the average family could save $65 per month by shopping around for car insurance.
Last week, I gave some general tips to save on insurance of all types. Here are some other ways to lower your costs on car insurance:
Ditch towing coverage. Towing — or “emergency roadside service”, as it’s sometimes called — is an easy cost to self-insure. (You likely pay $10 to $30 a year for towing insurance, and one tow costs about $100, which you can save quickly by not paying for towing insurance.) Sometimes your car will break down, but if it’s well maintained, that won’t happen often. Also note that if you’re in an accident, towing is usually covered under collision insurance — but check your policy to be sure.
Plan ahead. Compare auto insurance quotes before you buy your next car. Insurance costs are based on how likely a car is to be stolen, damaged, or to inflict damage, and how badly occupants tend to be hurt in accidents. Repair and replacement costs are also factors. Many insurance companies list cars with lower insurance costs on their websites.
Watch your credit. Most insurance companies now look at parts of your credit report to determine your premiums. This sucks, I know, but parts of your credit history have been found to correlate to what the company has to pay out. They can’t adjust your rates on your current car if you pay on time and in full, but anytime you add a new vehicle, its premiums can be affected by your credit.
Don’t pay monthly. Insurance companies charge a few bucks each month for monthly billing. To avoid that fee, pay every six months or even once a year, if possible. If you have to pay monthly, use your insurance company’s autopay program, which costs less because they don’t have to send you a paper bill.
Though it’ll always cost more to insure a new Corvette than a used Corolla, one of the best ways to keep costs low is to maintain a clean driving record. Insurance companies charge you based on how likely you are to file a claim — and accidents are the biggest source of claims.
Some insurance companies offer discounts for taking safe-driving courses. Others give low-mileage discounts — the less you’re on the road, the less likely you are to be in an accident. Be sure to ask about all the discounts you qualify for!
Note: Much of this material was drawn from the “Death and Taxes” chapter of my book, Your Money: The Missing Manual, which was published earlier this year by O’Reilly Media. You can download a sample chapter here. Image by Incase Designs.
Since the dawn of streaming, thousands of services have popped onto the scene. As you look for the best streaming service out there, it is easy to feel overwhelmed. After all, there are just so many options vying for your attention.
So, how can you determine which streaming service offers you the absolute best value? Today I’ll dive into the details with a breakdown of the top eight streaming services that offer the most bang for your buck.
Let’s dive in!
What’s Ahead:
Overview of the best values in streaming
Streaming service
Best for
Cost
Free trial
Are there commercials?
Popular shows and movies
Add-on options
Netflix
Diverse interests
$8.99 to $17.99 per month
No
No
Narcos, Bridgerton, Ozark, The Queen’s Gambit, Virgin River
N/A
Disney+
Families with young children
$8.99 to $13.99 per month
No
No
The Mandalorian, WandaVision,The Lion King, Mulan
ESPN+ Hulu (with ads)
Hulu
Currently on-air TV shows
$5.99 to $64.99 per month
Yes
Yes, at the lowest price point
The Handmaid’s Tale, This is Us, Cruel Summer
Disney+ ESPN+ HBO Max SHOWTIME STARZ CINEMAX
Amazon Prime Video
Free shipping shoppers
$8.99 per month, or included in your Amazon Prime Membership
Yes
No
The Marvelous Mrs. Maisel, Goliath, The Main in the High Castle
Included with your Amazon Prime Membership
HBO Max
Movie buffs
$14.99 per month
No
No
The Sopranos, Game of Thrones, FRIENDS: The Reunion
N/A
Crackle
No-cost streaming
Free
N/A
Yes
Lemony Snicket’s A Series of Unfortunate Events, Going From Broke, War
N/A
Sling TV
Live TV
$35 to $50+ per month
No
Yes
NFL Network, HGTV, AMC, Bravo, BBC, ESPN, TLC
SHOWTIME, STARZ, EPIX, CineFest, CineMoi, Comedy Dynamics, etc.
Peacock
Classic sitcom aficionados
$0 to $9.99 per month
Yes
Yes, with some content
The Office, Parks and Recreation, Downton Abbey, Modern Family
N/A
Netflix
Types of content – Originals, TV shows, documentaries, movies.
Cost –$8.99 to $17.99 per month.
Number of shows – About 15,000 titles.
Free trial –No.
Year created –1997.
No conversation about streaming services would be complete without including Netflix. As the original streaming giant, it is not surprising that Netflix still offers its customers great value.
In fact, the streaming giant offers 1,326 TV shows and 4,339 movies to viewers within the U.S. This large number of titles translates into thousands of hours of content for subscribers.
Although Netflix originally hosted popular shows created by other networks, the company has pivoted to focus its efforts on creating original content in recent years. As this transition occurs, some popular titles have left the streaming platform while new shows and movies are created exclusively for subscribers.
Over time, the cost of streaming Netflix has risen. However, it is still a relatively affordable way to gain access to thousands of hours’ worth of content. You can explore the exclusive titlesbefore signing up to ensure there’s something you are interested in.
Learn more about Netflix.
Disney+
Types of content – Originals, TV shows, documentaries, movies.
Cost – $7.99 to $13.99 per month.
Number of shows – About 7,000 TV episodes and 500 films.
Free trial –No.
Year created –2019.
Disney+ launched late in 2019. Although the entertainment giant was not the first on the streaming scene, it picked up over 100 million subscribers in just 16 months. The draw of Disney’s extensive catalog of original movies and TV shows has drawn new subscribers quickly.
Through Disney+, you’ll have access to different branded content, including National Geographic, the Star Wars universe, the Marvel universe, and Disney classics. Of course, there are thousands of hours of content that Disney has created in its long history on the streaming platform. But the CEO, Bob Capek, has also announced that Disney+ intends to add at least 100 new titles to the platform each year.
Beyond this extensive library, Disney+ gives you the option to bundle with ESPN+ and Hulu for just a few dollars a month. With that, you’ll have access to everything in Disney+ and live sports!
All in all, Disney+ is a perfect option for families with a wide range of interests.
Learn more about Disney+.
Hulu
Types of content – Originals, network channels, TV shows, documentaries, movies.
Cost – $5.99 to $64.99 per month.
Number of shows – About 2,700+ titles.
Free trial –Yes.
Year created –2007.
Hulu is a streaming platform that has been available for many years. However, what sets this service apart is the ability to stay up to date with shows that are currently airing on TV.
With that, you’ll have the option to cut your cable expenses and switch over to a streaming service. Not only will you have access to the latest episode, but also the previous seasons of most shows. In addition to shows that are airing on major networks, Hulu also offers some original content.
A disadvantage of Hulu is that a base subscription won’t provide a commercial-free experience. At the $5.99 price point, you’ll gain access to the platform. But you’ll still have to suffer through commercials. You’ll need to pay $11.99 per month to enjoy your shows without sitting through commercials.
An interesting feature offered by Hulu is the Live TV option. With this option, you’ll gain access to over 75 channels without getting cable. If you worry about missing your shows live, then this streaming service could be the best option for you.
Learn more about Hulu.
Amazon Prime Video
Types of content – Originals, TV shows, documentaries, movies, sports.
Cost – $8.99 per month, or included in your Amazon Prime Membership.
Number of shows– About 24,000 movies and 2,100+ shows.
Free trial –Yes.
Year created –2006.
Amazon Prime Video is known for offering worthwhile original content.
The depth of their original content library is shallower than what streaming giants like Netflix and Disney+ can offer. However, there are still many hidden gems in the Prime Video library. Additionally, the recent purchase of MGM by Amazon should dramatically boost the number of titles available through Prime Video.
If you are worried about missing out on sports, Amazon has you covered. Beyond TV shows and movies, Amazon also offers Thursday Night Football games. Additionally, recent deals with Comedy Central and Nickelodeon have brought more content to the platform for children and families looking to laugh.
As a streaming service, Amazon Prime Video offers a lot of value. But you can get even more bang for your buck if you choose to access Prime Video through an Amazon Prime membership. At $12.99 per month, you’ll get free shipping on thousands of items. Plus, access to this extensive content library.
Learn more about Amazon Prime Video.
HBO Max
Types of content – Originals, TV shows, documentaries, movies.
Cost – $14.99 per month.
Number of shows– About 2,000 titles.
Free trial – No.
Year created:2020.
HBO Max is a relatively new streaming service, but HBO has been around for a while. In fact, you’ve probably heard of HBO’s track record for creating outstanding original content. For example, Game of Thrones was an HBO original that took the world by storm.
Not only does HBO have a track record for creating outstanding original content, but the platform also has exclusive movie rights to some of the latest movies. So if you are a movie buff that wants access to the newest movies as soon as possible, HBO Max is likely the way to go for Warner Bros. Pictures’ movies.
Although the sheer amount of content available on HBO is less than other platforms, the quality of the content is stellar. All things considered, you may choose to go with HBO Max for the quality, but you might miss out on the quantity available on other platforms. Of course, there is only so much TV you can stream. With that, HBO Max may have plentiful content for your needs.
Learn more about HBO Max.
Crackle
Types of content – TV shows, documentaries, movies.
Cost – Free.
Number of shows – About 1,000+ movies and 70+ TV shows.
Free trial –N/A.
Year created –2004.
Crackleis a free streaming service that you can access by creating an account. Although the platform is free, you’ll have to put up with commercials to stream any content.
With a large amount of free content, you’ll find that the quality is hit or miss. The platform itself is a little bit outdated, but overall, it is relatively easy to navigate once you figure out the different groupings.
Essentially, you’ll have to decide if you are comfortable sitting through commercials while watching your TV shows. Since the price is free and there are some interesting titles, you can always give Crackle a try.
Learn more about Crackle.
Sling TV
Types of content – Network channels, sports.
Cost – $35 to $50+ per month.
Number of shows – About 5,000 titles.
Free trial –No.
Year created –2015.
If you are hanging onto your expensive cable package just so that you can watch a handful of channels, then Sling TV is the answer you’ve been looking for. You’ll be able to choose which collection of channels you want to pay for.
With over 45 channels available in a package, it is likely you’ll find everything you are looking for. If not, you’ll have the opportunity to add on additional channels for an extra fee. With that, you can essentially customize your cable experience and cut down on costs.
When you pay for Sling TV, you’ll be able to watch the selected channels live. Plus, you’ll be able to watch on-demand shows through your DVR.
Overall, Sling TV provides a great option for anyone looking to cut cable without letting go of their favorite channels.
Learn more about Sling TV.
Peacock
Types of content – Originals, TV shows, documentaries, movies.
Cost – $0 to $9.99 per month.
Number of shows – About 20,000 hours of titles.
Free trial –Yes.
Year created –2020.
As a relatively recent creation, Peacock offers a lot of standout content. Most notably, fans of recent hit sitcoms will be impressed with the binge-worthy lineup, including The Office, 30 Rock, and Parks and Recreation.
The new platform offers a fairly deep collection of content. Plus, you’ll have the ability to watch for free if you don’t mind sitting through commercials.
If you have a penchant for rewatching your favorite comedies, then Peacock offers a worthwhile service. Additionally, the NBC-owned platform seems committed to adding content that will range beyond their hit comedies.
Learn more about Peacock.
How we came up with our list of best values in streaming
As we explored streaming services, we looked at a variety of factors when pulling out the best of the best. We researched the price, the quality of the content available, the quantity of content available, and other unique features that make each platform stand out. The selections above were chosen to represent the best available in a range of categories.
What is a streaming service?
A streaming service is a platform that provides a media format that can be consumed continuously. As a user, you won’t need a lot of storage space to access the media.
In this article, we’ve looked at streaming services that provide video content. However, there are also streaming services that offer audio content, such as Spotify or Pandora.
Why should you use a streaming service?
Affordability
The average household cable package costs around $217 per month. That’s a lot of cash that you could use to accomplish other things, like building your retirement savings or saving up for your next vacation.
Streaming services offer an affordable way to cut your entertainment costs without missing out on enjoyable content.
Commercial-free options
There are not too many of us that enjoy sitting through a commercial. After all, there are only so many hours in a day. You don’t want to waste precious time sitting through an annoying commercial. Many streaming services offer commercial-free options to help you eliminate this annoying distraction.
Killer content on your schedule
A streaming service allows you to watch the shows you want to when you want to. Instead of trying to time your TV watching, you can simply press play whenever.
This freedom doesn’t mean that you have to watch mediocre shows. In fact, the streaming services above offer access to some of the most popular shows and movies available.
Flexibility
When you sign up for a streaming service, you may not be locked into a contract. So if you run out of content that you want to watch on a particular platform, then just cancel until a new show piques your interest.
Why shouldn’t you use a streaming service?
You don’t watch any TV
If you don’t regularly watch TV, then a streaming service might not be worth it. Consider whether or not the amount of time you spend watching TV justifies a streaming expense.
Limited sports options
If you are a sports fan who wants to watch particular games, do some research about where the games will be available. In some cases, you may not find a streaming service that offers access to the sporting events you care about.
Most important features of a streaming service
Here’s what to look for as you explore your streaming options:
Cost
First things first, make sure that the streaming service you choose fits into your budget. Otherwise, you might want to go with one of the many free options.
Content
The content available on a streaming platform will really help you determine whether or not you want to purchase it. Although there is an abundance of content out there, you’ll need to decide for yourself what interests you the most.
For example, my husband is a big Star Wars fan, and I love Disney movies. With that, we decided to go with Disney+ for our streaming service of choice.
My mom has a sixth sense when it comes to bargain hunting. Where I’m thrilled to get 25 percent off and free shipping, she’s finding deals of 70 percent off and getting inside scoop from the salespeople, who probably have her on speed dial should a ginormous everything-must-go-or-we-torch-it clearance sale come along.
Okay, so I’m exaggerating, but not by much. The point, however, is that the key to finding bargains is timing—off-season, end-of-season, new models bringing down prices on the old models. There’s a pattern and a perfect time to buy just about anything.
When possible, plan your purchases by using the following list to score the best deals and to keep more of your money in your high interest savings account:
House and Home
Real estate—March through August are active months for buying and selling, so a buyer looking for a deal will have better luck negotiating on an offer in autumn and winter.
Flooring—Carpet and flooring goes on sale near the end of the year due to slow sales, though discounts are possible throughout the year from independent retailers.
Furniture—January and July, when stores need to make room for new inventory.
Gas grill—Like air conditioners, the best time to buy is during winter months, when demand for outdoor grills is low.
Cookware—April and May (think graduation and wedding prime time) and October and November (holidays approaching).
Linens—January “white sales” and the end of each season (i.e. as spring approaches, winter-colored linens will go on sale). It’s common to see linens (in all colors, not just white!) on sale for up to 60 percent off retail.
Mattress—New mattresses arrive in stores in May, when you’ll find a good deal on the previous year’s models.
Vacuum cleaner—June, when new models hit the floors, and end of winter.
Hardware—Big sales occur around Father’s Day and between Thanksgiving and Christmas.
Home appliances—New models arrive in September and October, when you’ll find good deals on last year’s models. Holiday weekends—Fourth of July, Labor Day, Columbus Day, Presidents Day—also are good bets for deals. If you’re willing to buy an appliance with a ding or a scratch, you can save hundreds.
Air conditioner—Winter months, when demand is low.
Flora
Flowers—Tulips are less expensive in February, peonies in May. Flowers are at their best when in season.
Shrubs, trees, etc.—Autumn is a good time to buy bulbs (store them according to directions on the packaging) and trees and shrubs (nurseries are trying to clear out inventory).
Recreation
Outdoor (general)—Swings, beach and pool toys, swimming gear, and other outdoor items go on sale in August, when retailers are trying to make room for fall and winter items.
Outdoor gear (bicycles, for example)—February and March, when new models replace last year’s models.
Boat—Boat shows, held from January through March, generally offer the best prices.
Gym membership—Membership sales soar in January as everyone resolves to lose weight, but lag in spring and summer. You’ll find lower fees and waived enrollment fees to lure you to their treadmills.
Movie tickets—Matinees are an established way to spend less at the theater (as is smuggling in your own M&Ms, not that I’d condone such behavior or ever do so myself…). A.M. Cinema (AMC Theaters) sells discounted tickets before noon from Friday to Sunday and on holidays.
Broadway tickets—Find bargains hours before the show, or try the well-known TKTS booth in Times Square.
Electronics
Blu-ray player—Black Friday sales and after-Christmas sales offer some of the best deals.
TV—Sales can be found throughout the year. Times to note include Black Friday, between Thanksgiving and Christmas, right after New Year’s Day, before the Super Bowl, and in May and June. New models hit stores in August and September, when you’ll find sales on new models and discounts on the previous year models.
Cell phone—New customers get the best deals. For new phones, wait six months if you can. Search online for coupon codes, as well.
Digital camera—The Consumer Electronics Show and Photo Marketing Association convention mean new models will arrive in stores. Shop in January and February for deals on last year’s models.
Computer—Back-to-school season yields a few sales, but the best deals can be found when a technology is outdated and retailers want to get rid of the older models. Look for a few extras (free shipping, bundled accessories, etc.) around the holidays.
Tip: In general, you’ll find a good deal when an electronic item is outdated. Wait until after technology shows like MacWorld and the International Consumer Electronics Show to see if your iWhatever will be discounted to make way for the next big thing.
Auto
New car—New models roll into the lot in fall, so shop in September for last year’s model. Shop on a weekday at the end of the month to get the undivided attention of a salesperson trying to make their monthly quota.
Used car—Dealers increase their inventory in April to start the spring selling season. You’ll find a good selection and willing negotiators.
Recreational vehicle—Dealers sometimes offer specials in winter, but generally buying an RV works like buying a car (see new cars).
Gasoline—Fuel up on a weekday, early in the morning if gas prices are rising or in the evening if gas prices are going down (prices are usually changed between 10 a.m. and noon).
Oil change—Look for early bird specials in your area.
Tires and auto parts—During April (National Car Care Month) and October (Fall Car Care Month), you are likely to find buy-three-get-one-free deals on tires, free oil changes, and other checkups.
Car wash—Early birds (before 8 or 9 a.m.) can often find deals at full-service car washes.
Travel
Airline tickets—For domestic nonholiday travel, look for the lowest fares 21 days from your departure. Fares are updated at 10 a.m., 12:30 p.m., and 8 p.m. on weekdays, and airlines file one update on Saturday and Sunday. Lowest fares are filed on Tuesdays, Wednesdays, and occasionally on Saturdays. Wednesday is generally the cheapest day to fly and Sunday the most expensive. (Exception: the Wednesday before Thanksgiving—the busiest travel day of the year.) For holiday travel, start looking in September to get a good price. Fares can change quickly, and much depends on the carrier and the market.
Travel (general)—The off-season or shoulder-season for your destination will offer the most savings on lodging, recreation, transportation, etc.
Food
Groceries (supermarket)—On Sunday evenings, you’ll save money through store sales (typically run Wednesday through Thursday), and by shopping in the evening, you can save even more on items that must be sold by day’s end. If you clip coupons from the Sunday newspaper, you’ll enjoy additional savings.
Coupons—While coupons are available throughout the year, the most coupons appear in the Sunday paper during November and December. The best deals on turkeys can be found two weeks before Thanksgiving to Christmas. In spring, you’ll find coupons on seasonal produce, ham, and frozen food (apparently March is National Frozen Food Month—who knew?). Summer coupons offer discounts on grilling items and ice cream. Autumn brings coupons on soup and other canned items.
Groceries (farmers market)—Vendors often lower prices near closing to avoid having to pack up perishables and take them back to the farm.
Champagne—With steep competition to be your New Year’s Eve bubbly, Champagne houses drop prices during the holidays.
Clothing and Accessories
Clothing (general)—Got your heart set on something in particular? Shop on a Thursday evening six to eight weeks after the item arrived in the store. By Thursday, the weekend sales have started and the selection will still be good. Season-end clearance sales also offer up savings.
Baby clothes—Shop during your pregnancy for end-of-season clearance items. If it’s springtime and you are due in winter, look for winter closeout sales now for infant clothing.
Jewelry—Avoid the holidays, when you are most likely to pay full price.
Weddings
Wedding (general)—The off-season can mean big discounts. If you live in a cooler climate, you’ll find savings during the winter months. Hotter climates mean likely deals in summer months.
Wedding dresses—After Thanksgiving and before Christmas. Boutiques are stocked with gowns for Christmas engagements, but it’s a slow sales period.
Other
Toys—October and November offer good bargains as retailers gear up for the holiday season.
Wrapping paper—January, of course!
I might not ever be as good as my mom at bargain hunting, but knowing when to shop might make me almost as good. If you’re one to make resolutions every new year, resolve to save money and correcting your small errors by including a check on your free credit report to make a huge difference in your purchases in 2010 by timing your purchases.
If you found this helpful, don’t forget to follow Get Rich Slowly on Facebook and Twitter.
If you could watch any TV series for the first time again, what would it be? After someone polled the internet, these are the top-voted television series.
1. Breaking Bad
“Breaking Bad,” shared one. “The greatest tv series of all time. Though it wasn’t a Netflix original, I’d say this was one of the first shows that helped usher us into the streaming era. Truly iconic, and Bryan Cranston is one of the greatest actors of all time..”
2. The Good Place
Many people agreed with, The Good Place. “It is one of those shows that gets more interesting (in new ways) each time you watch it, and I don’t think that can be said for many other shows! Plus, it’s an absolute masterclass in casting, makes intellectual topics fun, and has unique characters — no wonder it’s my favorite.”
3. Futurama
Futurama came in at number three on the list. However, one person noted, “We skip the dog episode, though.” “I completely agree,” said another. “As this is probably my most rewatchable show, there were many memorable first-time moments. The Bee episode is up there for me.”
4. M*A*S*H
“I’m dating myself here, but M*A*S*H,” shared another. “Very, very funny. It’s about the Korean war, but the good thing is that you don’t have to know or even understand anything about history to laugh your bum off. It has its touching moments too.
5. Community
“Community. I’d give anything to see ‘Remedial Chaos Theory’ or ‘Intermediate Documentary Filmmaking’ for the first time again,” one confessed. While others agreed, one added, “You discover new things on the 30th rewatch.”
6. Fleabag
Several people voted for the show, Fleabag. “Oh man, I’m feeling wistful just imagining seeing it again for the first time.” Another added, “I can’t stress how much I would recommend this show even if you don’t see why on the first episode, everyone should watch it. I promise by the end. You’ll be glad you did. It’s only two very short seasons. I came here looking specifically for this show.”
7. The X-Files
“I started watching The X-Files when I was eight and rewatched the entire series when I was 28,” answered another. “It was such an enriching experience. All of the episodes I didn’t get when I was a kid hit deep 20 years later. The truth is out there, my friends.”
8. Fringe
One user confessed, “I didn’t expect this answer so high up. Fringe is so underrated! Hate the last season, but I wish I could experience the second season for the first time again.” A second added, “Watched it several times over. Never disappoints.”
9. Twin Peaks
“Twin Peaks. Every watch-through is a wild ride. But nothing compares to that first watch,” one suggested. Another said, “It’s an intense fever dream of a show and probably a bit quirky for some, but for my money, it’s the most absorbing series of all time.
I’m still obsessed with it years later. For those new to the show, start with seasons one and two. Then watch the movie Fire Walk With Me and then season three, which takes place 25 years later.”
10. Avatar: The Last Airbender
“Avatar: The Last Airbender,” answered another. “I’d give anything to experience it the first time again. I’m going to watch the new series from Avatar studios and hope it can replicate that feeling.”
11. Firefly
Someone volunteered, “Firefly. The best show I never want to see a remake of” shared one. “I honestly don’t want to go through the heartbreak of learning that it was canceled all over again. It’s taken me a lot of time to heal from that,” confessed another.
12. True Detective Season 1
“True Detective Season 1. Peak Matthew McConaughey right there,” one replied. “My life was much better when I watched this the first time.” Another admitted, “I saw this season again recently, and it was even better the second time. I missed so many details the first time around.”
13. Black Mirror
“Black Mirror,” one noted. “It’s not the same when rewatching. Still good, but nothing beats seeing each story for the first time.” A second said, “Yo, that show was wild the first run. It was like anti-anti depressants.”
14. Lost
One person shouted, “Definitely LOST. I’m wondering how it would be to binge the series, but there was something about the year wait to find out what was in the hatch.” A second added, “I love Lost! You can only recreate the magic of watching it for the first time by introducing it to someone who’s never seen it and watching it with them!”
15. The Wire
Finally, The Wire comes in at number fifteen on this list. Someone suggested, “The Wire is great for multiple rewatches. It’s nice having an attachment to the characters from the get-go and being reminded why you like them so much.”
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Have you ever watched a TV show once and just couldn’t get over it? You start talking about it to all your friends (and maybe they get annoyed), or maybe you discover they loved it too and now you both can’t stop talking about it? Well, you’re not alone! Today, we’re talking about 15 TV shows that people can’t stop talking about.
1. True Detective
One person commented, “I have to say it’s the 1st season of True Detective.”
Another person replied, “Yeah. I held off on true detective for years and idk why. Watched it last week and was absolutely blown away. I started watching it in the evening and only managed to watch 3 episodes then finished the rest the next day. If I had started earlier, I’d have binged it in one day. Such an intense show with amazing performances by all. Rust’s character was so… intriguing. It just kept giving more each episode. Are the other 2 seasons any good? I started watching the second one but it didn’t draw me like the first season did so I put a pin in it for now.”
2. Band of Brothers
Band of Brothers is a war drama miniseries that premiered in 2001. The series is based on the book of the same name by historian Stephen E. Ambrose, which tells the story of Easy Company, a US Army Airborne unit that fought in Europe during World War II.
“Band of Brothers will never be [rivaled] I feel. Every episode is outstanding,” one person stated.
“Was just coming here to mention Band of Brothers as well,” another commenter added.
3. Chernobyl
HBO’s Chernobyl is a historical drama miniseries that premiered in 2019. The series is based on the real-life events surrounding the Chernobyl nuclear disaster that occurred in the Soviet Union (now Ukraine) in 1986.
One person said, “I was blown away by this series… The rooftop scene… or the people on the bridge staring at the radioactive snow falling down… still haunts me.”
One user said, “…That miniseries was so good.”
Another Redditor added, “10/10 show.”
4. The Wire
The Wire was praised for its realistic portrayal of urban life, its complex characters, and its nuanced storytelling. The show has been credited with revolutionizing the crime drama genre and influencing a generation of television shows.
“Definitely the most interesting and well written drama I’ve ever watched. How they tied it all together through 5 seasons was amazing,” one user stated.
5. The Americans
The Americans is a spy thriller television series that aired from 2013 to 2018. The show is set during the Cold War era and follows the lives of two KGB officers posing as a married couple in the suburbs of Washington, D.C.
One person stated, “An absolutely stunning attention to detail. The writing, the acting, the casting, the music, the set design—all of it was just perfect.”
Another one replied, “I’ve just rewatched the Americans and agree—it’s absolutely brilliant. The pacing of it was so well done, and agree with casting and the music was perfect. I just can’t see any other actors embody Elizabeth and Philip so perfectly.”
6. Stargate SG-1
Stargate SG-1 is a science fiction television series that aired from 1997 to 2007. The show is a spin-off of the 1994 film ‘Stargate’ and follows a team of explorers who use a fictional alien device called a ‘Stargate’ to travel to different planets and encounter alien civilizations.
7. Futurama
Futurama is an animated sitcom series that aired from 1999 to 2013. The show was created by Matt Groening, the creator of ‘The Simpsons,’ and follows the adventures of a delivery boy named Fry, who is cryogenically frozen and wakes up 1,000 years later in the 31st century.
Another person quoted a famous line, “’I am the man with no name, Zapp Brannigan at your service.’”
8. It’s Always Sunny in Philadelphia
The series is known for its dark humor, satirical commentary on modern society, and its willingness to tackle taboo subjects. The show has been praised for its writing, character development, and the performances of its ensemble cast.
One person said, “It`s like inverted Friends and with the volume at max.”
9. Breaking Bad
“Breaking Bad. I wish I could wipe my memory of that show and rewatch it. One of the first shows that made me feel stressed and anxious because I didn’t know what would happen next. Better call Saul is great too,” one user stated.
“I watched it several times all the way through. You can have a whole new experience if you choose to watch it with the focus on a different character’s perspective each time.. It’s a whole new show that way,” another user replied.
10. The Venture Bros
The Venture Bros is an animated television series that premiered in 2003 and aired until 2018. The show is a parody of classic adventure cartoons and follows the adventures of the Venture family, which includes scientist Dr. Thaddeus Venture, his two sons Hank and Dean, and their bodyguard Brock Samson.
One person said, “Great show.”
Another user replied, “Loved this show.”
11. The Sopranos
The series is known for its complex characters, its exploration of themes such as family, morality, and mental health, and its masterful use of symbolism and imagery. The show is widely regarded as one of the greatest television series of all time and has been praised for its writing, direction, and performances.
One user commented, “Ohhhhhhh! Why did I have to go this far down this much to find this show. Best show ever. 100%.”
Another Redditor said, “Very allegorical.”
Another added, “Good choice.”
12. Better Call Saul
Better Call Saul is a drama television series that premiered in 2015 and is a prequel to the critically acclaimed series “Breaking Bad.” The show follows the life of Jimmy McGill, a struggling lawyer who eventually becomes the corrupt, criminal defense attorney Saul Goodman.
The series is known for its compelling characters, its exploration of themes such as ambition, loyalty, and morality, and its masterful use of cinematography and visual storytelling. The show has been praised for its writing, direction, and the performances of its ensemble cast.
13. Six Feet Under
One person shared, “I still think about this finale—brilliant.”
Another person replied, “Yes! I’ve rewatched it more times than I can count.” Finally, the third added, “Incredible series finale.”
14. Mad Men
“Closest thing to a good book I’ve seen on TV. Following every character developing is amazing, every single step a character takes is a consequence of their previous actions/behaviors or environment. I just love this show,” one person stated.
“Roger is one of my favorite characters ever. Just a rich drunk old womanizing sailor,” one Redditor replied.
One commenter agreed, “For me too. It’s so perfect. I can’t choose between my top 3 shows, but Mad Men is the first series I watched which I considered a masterpiece then and still do now. I’ve rewatched it so many times. it’s almost a comfort show for me and my daughter. It’s also so funny. It has a real wit.”
15. BoJack Horseman
The series is known for its dark humor, its exploration of themes such as mental health, addiction, and existentialism, and its innovative animation style. The show has been praised for its writing, its use of satire and parody, and the nuanced and complex portrayal of its characters.
One shared, “I don’t think I’ve ever watched a show with better writing than BoJack. The way it depicted mental health on every character, and how it managed to be so disturbingly dark, deep, gut-wrenching and even realistic in ways other shows just aren’t, all while still being a silly animated sitcom filled with funny talking animals… gives it a rightful spot at the top for me.”
Source: Reddit.
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It’s common knowledge that the pilot episode of any given TV show is just a warm-up round. To know what you’re getting into, and decide if you really want to watch it, you have to give most shows 2-3 episodes. But some shows just have a really strong pilot, and you know from the beginning that the show is going to be good. Today, let’s talk about the top 20 TV shows with the strongest first episodes. Do you have one in mind? Check out this list and see if it’s here!
1. Chernobyl
Chernobyl is a 2019 series based on the historical 1986 Chernobyl tragedy and the subsequent cleanup activities. Some people say the drama series had one of the strongest first episodes.
One person said, “Still watch that series a couple of times a year, it’s amazing.”
Another person replied, “It was brilliant but scarred for life after it. Couldn’t do that to myself again.”
One commenter added, “Same team made The Last of Us pilot, which is also quite good.”
2. Six Feet Under
The HBO television series Six Feet Under was highly praised by critics for its writing and acting, and was consistently popular among viewers, resulting in high ratings. It is widely considered to be one of the greatest television shows ever made. Also, the last episode of the series has been called one of the best endings to a TV show ever.
One person said, “I love this show. Still recommend it for anyone asking for a solid series to watch.”
Another added, “I recommend it to people all the time too. I’ll Have to watch it again someday. So good.”
3. Fargo
Fargo is a 2014 black comedy crime series with four seasons and 41 episodes. The series is incredibly well-curated, with each episode just getting better.
One person commented, “Yeah! I came to say this one, it has the best first episode I’ve ever seen.”
Another commenter replied, “First and second season both had excellent opening episodes.”
Another user added, “Came here to say this too! I was immediately hooked.”
4. Attack on Titan
Attack on Titan (AOT) is a Japanese manga series illustrated by Hajime Isayama. The apocalyptic series follows the story of Eren Yeager, along with his other friends to exterminate the man-eating giants in the post-apocalyptic world.
One person shared, “Yes. Immediately sets the tone and gives you the first wave of questions you want answered.”
“I remember watching it and being immediately hooked,” someone replied.
“The first two episodes triggered my depression really hard and I had to stop. Then I couldn’t get it out of my head and went back to it like a week later. Now it’s one of my favorite shows ever,” another Redditor added.
5. Lost
Lost is a 2004 science fiction drama that follows a group of survivors who manage to survive a plane crash on a deserted island in the tropical Pacific while aboard Oceanic Airlines Flight 815.
One person stated, “My answer too—ridiculously strong opening. Hard to imagine now but it was one of the first ‘mystery box’ series’ and still maintained strong character focus. That whole first season was incredibly good.”
Another commenter added, “As someone who quit watching Lost half way through, the pilot was one of the most riveting things I’ve ever seen.”
6. Hannibal
Hannibal is a psychological horror-thriller television series that aired from 2013 to 2015, starring Mads Mikkelsen as the titular character, Dr. Hannibal Lecter. The series is based on the characters and elements from the classic novels ‘Red Dragon’ and ‘Hannibal’ by Thomas Harris.
One user said, “Hannibal sets up the tone for the whole show quite well.”
Another Redditor replied, “The first season of Hannibal is one of my favorite TV seasons ever and that first episode is flawless.”
One commenter added, “Love the show so much! Mads Mikkelson and Hugh Dancy are fantastic! I never would’ve thought I’d like another Hannibal Lecter after Anthony Hopkins, but I dare say that Mads is right up there with him. If not better.”
7. The West Wing
“Came here to say this. The entire show was a masterpiece for me, even after Sorkin left. Easily my most rewatched series,” One Redditor shared.
“26 Emmy awards. It’s a comical number when you consider how many legendary TV shows only got 1 or 2 awards. I remember when John Spencer, Bradley Whitford and Richard Schiff were all nominees for best-supporting actor against each other, and you just had to laugh at how much better it was than other shows,” another added.
“My favorite of all time. Have viewed S1-S7 at least three times, maybe four. I never get sick of it. Glad to know others are obsessed with it. Succession is the only other show that has come close to me wanting to absorb eps multiple times,” one commenter replied.
8. Westworld
One user commented, “I watched the first episode of Westworld and then immediately made a group of friends watch it. It hooked me hard. It is a shame the later seasons couldn’t (to me) hold on to the same magic as that first season.”
Another person replied, “The performances in Westworld were incredible. Especially when they were troubleshooting Peter Abernathy, that scene was masterful.”
A third commenter added, “Westworld S1 was absolute perfection. One of the best first seasons of a show ever. So sad its trajectory went the way it did.”
9. Ozark
Ozark is a crime drama television series that premiered on Netflix in 2017. The series stars Jason Bateman as Marty Byrde, a financial planner who relocates his family from the Chicago suburbs to the Ozarks in Missouri to launder money for a drug cartel.
“Ozark’s first episode was pretty chill and then whoa,” one user stated.
“This is my answer too. It’s a good show, but far and away the best episode of the series was the pilot. One of my favorite hours of television,” the second person replied.
10. Derry Girls
The show is known for its witty and irreverent humor, as well as its poignant exploration of the impact of political conflict on everyday life in Northern Ireland. It has been praised for its diverse and relatable characters, as well as its portrayal of female friendship and adolescent angst.
“Most sitcom first episodes (seasons too?) have to do so much table setting that they’re not funny. This first episode established the settings, and characters, and was funny too,” one person stated.
“Yup, wife and I just started and we were in love with it from the first episode. It’s great when you find a new show that doesn’t require time to ‘get into it, it gets better’ etc.,” another commented.
11. Sherlock
One person stated, “It started well, but they tried to get too clever. The last series was unwatchable.”
Another user added, “Not fair as this show is on another level. Each episode is an entire cinematic experience. Masterpiece.”
One commenter said, “Yeah I liked the slow-mo matrix-style wedding photos, really added to the experience.”
12. The Americans
The Americans has been praised for its complex characters, compelling storytelling, and meticulous attention to detail in its portrayal of historical events and espionage tactics. It has won several awards, including Emmys for its lead actors and for Outstanding Writing for a Drama Series.
One person shared, “YES! Also has one of the saddest series finales ever. I cannot listen to With or Without you anymore.”
The second person replied, “It sets up everything perfectly. I remember finishing it the first time and being confused that I’d only watched a single episode. It felt longer, but in a good way. The finale is also amazing, along with pretty much every moment in between.”
13. Battlestar Galactica
Battlestar Galactica is a science fiction television series that initially aired from 2004 to 2009. The show is a reimagining of the original 1978 series and is set in a distant star system where humans and their robot creations, the Cylons, are in a state of war.
One user shared, “That opening scene had me soooooo hooked.”
Another Redditor replied, “Oh, so good. And the finale was great too. (And like most of the in-between bits).”
14. Designated Survivor
Designated Survivor was initially praised for its compelling premise and strong performances, particularly from Sutherland. However, the show received mixed reviews over the course of its three seasons, with some critics and fans feeling that it lost its way in later seasons.
“Also had the best episode of the series,” one person commented.
“I’m so hooked on this show right now!” another person replied.
15. The Good Place
“This is especially striking because sitcoms are notorious for having ‘meh’ pilots at best, even the ones that become classics. Sitcoms always seem to take time to get the characters well together and for the writing to align with their characters’ energy. But The Good Place was straight hysterical right out of the gate!” one person said.
“Can’t believe I had to scroll this far to find this. You watch the first episode, you’re probably going to watch all of them,” another user stated.
“Yup, I was about to comment this because I didn’t think anyone would. I don’t really like sitcoms, but this show is amazing,” a third commenter added.
16. The Walking Dead
One person commented, “[The] Walking Dead season 1 was so damn good.”
Another commenter replied, “I agree. That first episode hooked me. I was actually frightened and squirming in my seat as I got through the scene in/under the tank. What an adrenaline rush. After that, seeing NO progress in a resolution for years…other than to try to escape another disaster of their own making. I eventually gave up on the show.”
One user added, “This is actually the first to come to my mind as well. Such a great start.”
17. Dexter
The series explores Dexter’s personal struggle with his dark impulses and his attempts to balance his ‘normal’ life as a brother, friend, and father with his secret life as a killer. Over the course of the series, Dexter becomes involved in a number of complex and dangerous situations, including his interactions with other serial killers, the police department’s investigations into his activities, and his attempts to maintain his cover while pursuing his targets.
“Loved season 1 & 2,” one person commented.
“There is so much packed in to the first episode in the best way,” added another.
18. Jericho
Jericho is a post-apocalyptic drama television series that aired from 2006 to 2008. The show is set in the small town of Jericho, Kansas, after a nuclear attack on several major US cities. As the survivors struggle to rebuild their lives and society in the wake of the disaster, they face various challenges, including food and water shortages, disease outbreaks, and conflicts with neighboring towns and militias.
One person said, “That first episode was dynamite. Hands down. But unfortunately when they were forced to bring it back for season two, with a much reduced budget (just to pacify the fans), it showed. Was not the same quality show as season one.”
19. Mr. Robot
One person said, “That first episode legit dropped my jaw. It’s one of the all time greats.”
Another user commented, “I’m just watching Mr Robot for the first time now. About halfway through season 3. It’s really good, but they play a little too hard in the ‘unreliable narrator’ trope.”
One Redditor added, “Agreed! Haven’t been that immediately hooked by the opening 10 minutes in a while.”
20. Fringe
Fringe is a science-fiction television series that aired from 2008 to 2013. The show follows a team of FBI agents and scientists investigating mysterious and unexplained phenomena, including parallel universes, advanced technology, and supernatural events.
“I agree with you. Fringe was a terrific show,” one person stated.
“Very underrated and I rarely see it even mentioned anywhere,” the second person replied.
Source: Reddit.
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If you have been trading for a while, then there is a good chance that you have made some trading mistakes along the way.
Unfortunately, it is part of learning how to trade.
After all, trading is a skill that takes time to learn.
Trading mistakes are part of the learning process. I know that sucks to hear, but it is the truth.
The outcome goal is to learn from those trading mistakes.
Then, you can realize what you did wrong so you do not repeat those same mistakes.
However, more than not, it is more common to repeat the same mistake over and over again.
If you are ready to recognize trading errors and learn how to overcome them, then keep digging in. Take notes and adjust your trading plan accordingly.
We will cover emotional trading mistakes, technical trading errors, and option trading mistakes.
What Are Trading Mistakes?
Trading mistakes are errors made by traders when you enter trades, either to purchase stocks or options.
More than likely, you will see the same type of trading error happening over and over again.
Trading mistakes are very common, but they do not have to lead to complete panic.
In order to minimize the chances of making a costly mistake, traders should adhere to their trading strategy. Additionally, traders should always trade with a clear head and stay disciplined.
There are plenty of trading mistakes you can avoid by being smart and adjusting your trading plan where needed.
Why Understanding Trading Mistakes Is Important for Long-term Success
Trading mistakes are the result of traders taking losing trades, which can result in poor overall performance.
Mistakes that occur during trading often include not paying attention to the market, not understanding risk, not having a well-thought out trading strategy, and being bad at managing the trade.
Whatever the reason, trading errors occur and it is how we react to them that matters.
Long-term success in trading is not a goal that can be accomplished overnight.
Achieving long-term success with active trading requires patience, discipline, and practice.
It is easy to get caught up in day-to-day successes and forget to commit to a long-term plan. As traders, it is important to be able to recognize our mistakes so that we can learn from them and move forward.
Top 5 Trading Mistakes
As you will see, we compiled a long list of trading mistakes. Each trader will see some of those trading errors in themselves. Some are small trading mistakes while others are detrimental.
First, we are going to focus on the top five trading mistakes first. This will make or break your success as a trader.
The following are five common trading mistakes that traders make and how to avoid them.
#1 – No Trading Plan
Trading without a plan means you enter a trade without knowing your next step.
No trading plan means that traders are not able to set clear goals, establish risk-reward ratios, and avoid common pitfalls that can occur during a trade. This makes it difficult for traders to know when they should be buying, selling, or holding.
Trading without a plan is risky because it can lead to losses that are much higher than they need to be.
When starting out in trading, it is important to remember that we can only focus on what we can control. This means that we should not worry about things we cannot change, such as the past or the behavior of other traders. Instead, we should form a trading plan and stick to it so that we can succeed in the long run.
Creating your trading plan will happen with many revisions. The goal of the trading plan is to set your overall strategy for trading.
Also, you need to have a specific trading strategy for each trade you enter.
Avoid by: Spending time to develop a trading plan. Revise as needed. Stick to it.
#2 – Risk Management Plan is Missing
A risk management plan is essential for traders and it should be included in any trading plan.
Without a risk management plan, traders are more likely to make emotional decisions that can lead to costly mistakes. For many traders, this is the hardest thing for them to manage.
It is possible to create a risk management plan as your overall trading plan.
In your risk management plan, you must decide (in advance) how much money you are willing to lose based on the amount of profit you perceive to make. For instance, you are willing to risk $300 in order to make $1000.
Many day traders focus on a 2:1 reward-to-risk ratio. Personally, I look for stronger reward-to-risk ratios greater than 3:1.
Avoid by: Understand how risk is a part of making a profit. Set your risk tolerance and do not deviate from it.
#3 – Not Keeping a Trading Journal
One of the most important aspects of successful trading is keeping a journal.
This not only helps you keep track of your trades and performance, but it can also help you remember what worked and what did not. Journaling is so helpful and such an overlooked task.
Your trading journal is the perfect place to take notes, keep track of your wins and losses, and record market movements so that you can learn from past mistakes.
At the end of every trading session, you should take some time to analyze your trades.
What went well?
What didn’t go well?
Why did you make that particular trade?
What was your entry strategy?
What was your exit strategy?
Where was the overall market momentum?
Did you control your emotions?
What grade would you give yourself?
This analysis is important so that you can learn from your mistakes and improve your trading skills. Stay motivated to continue learning about trading and keep more profit.
Avoid by: Start journaling. Spend time after exiting a trade and the market day to understand what happen and why you did a certain trade.
#4 – Watching Too Many Stocks
Watching too many stocks can lead to a decrease in returns and overall confusion on what is happening with your watchlist.
As a result, it is important to be selective.
The same can be said of stock scanners. If you are watching too many variables and possibilities, you can quickly become overwhelmed.
When you develop your trading plan, you need to decide how you find stocks.
Personally, I prefer to focus on a handful of stocks and a few key metrics. Then, watch them closely and trade accordingly.
As a new trader, I would pick about 5-10 stocks to analyze.
Avoid by: Revise your watchlist to half what you are currently watching.
#5 – Actually Exiting Trade as Planned
Above we talked about creating a trading plan and having a trading strategy for each trade taken.
But, the trading mistake happens when you do not exit the trade as planned.
This could be because of “hopemium” that the stock price will recover and you will get back your loss.
Our “hopemium” is that the stock price keeps rising and you will make more money.
Either one can be damaging to your trading account.
You created a plan. As a disciplined trader, you must follow your plan either to maximize your current profit or protect your risk against further losses.
Avoid by: Exiting at your set targets. Period.
12 Typical Emotional Trading Errors
Trading is 80% mental and 20% execution. Okay, I am not sure that there is an official study to back it up. But, I do know as a trader that emotions play heavily into your overall profit.
The typical emotional trading errors that traders make when they are in a trade are overconfidence, jumping into trades before the proper analysis is completed, and inability to take losses.
This is where most of the trading mistakes are made.
When first starting out in trading, it is easy to get caught up in the prospect of making a lot of money quickly. However, most traders find that trading is not easy to do and make common emotional trading errors.
Let’s dig into these emotional mistakes first and then we will follow up on the technical trading mistakes.
1. Letting emotions impair decision making
Emotions are an important part of decision-making, but it can be dangerous to allow them to influence our decisions. We should also take into account that emotions can often lead us astray.
It is clear that emotional trading can lead to bad decision making and, ultimately, financial losses.
When investors let their emotions take over, they are not thinking logically and may make impulsive decisions. For example, they may sell stocks when the market is down in order to avoid further losses, even though the stock may rebound soon after.
In order to be successful traders, it is important to stay calm and rational when making decisions.
Overcome by: Stick to your trading plan and take emotion out of the equation.
2. Unrealistic Profit Expectations
You go into every single trade expecting a home run! Enough money to achieve your dreams overnight!
These types of profit expectations will have you throwing your risk management plan out of the window and set you up for failure with greed, overconfidence, and impatience.
Be realistic about your expectations with trading activity.
Overcome by: Go for base hits. Small consistent wins.
3. Greed
Greed is a deep-seated need for more profit without regard to the chart or market conditions.
The common rationale is hopefully the stock will go up. Typically, you hold your position too long and end up losing some of your gains.
Greed can manifest in many different ways, and people with greed often neglect their own needs in order to attain more.
Overcome by: Set an OCO bracket to exit the trade at your specified level. Take you out of the equation.
4. Fear of Missing Out (FOMO)
You fear that you missed out on a trade, so you decide to jump in. As a result, you are risking more than you should.
This trading mistake is common, especially with online trading communities.
As a result, you may buy at the high and watch the stock reverse.
Overcome by: Realize that there will be missed opportunities. That is part of the game. There will always be another chance.
5. Fear
In many cases, fear is a reaction to why or why not we enter a trade.
For any trader, they may become frozen unable able to make a decision as their mind is wrapped in fear. At the same time, they are either missing out on potential profits or unable to exit a trade due to mounting losses.
Overcome by: This is a real emotion that you must overcome. Take the time and read resources to help you overcome being paralyzed by fear.
6. Overconfidence after a profitable trade
The overconfidence that comes with success can lead to a loss of profits.
When a trader has a winning position, they may become overconfident and make bad decisions because of the previously profitable trade.
For example, they may not take their profits off the table when there is an opportunity to do so or increase their position size when they should be taking profits. This could lead to them losing all of their winnings and more.
Overcome by: Take a break from trading for a few days or a week after a big win.
7. Entering a Trade Based on Your Gut
The process of entering a trade based on your gut is, essentially, following your “gut feeling” and buying or selling shares after the market opens. This is seen as a more risky and less profitable strategy than following a more traditional market timing approach.
Trading is all about making calculated decisions and sticking to a plan.
Trading based on your gut feeling or emotions will only lead to costly mistakes.
Overcome by: Before entering into any trade, make sure you have a solid strategy in place and know all the rules. Only then should you start trading.
8. Not reviewing trades
Not reviewing trades is a common problem for many traders. Traders who don’t review their trades tend to be more likely to make mistakes in their trading and over-trade, which can result in losses.
You will make the same mistake over and over again until you realize the root of the problem.
This is how you move from a losing average to a winning percentage.
Overcome by: Let your journal be your friend. Document everything including your emotions.
9. Following the Herd
Many people enjoy following the herd with stock trading, especially online platforms on Reddit, Discord, or Twitter.
You may decide to follow a certain group of people in order to be fed stock picks or updates.
This can be risky because there is no sound foundation to base your trade upon.
Overcome by: Trade your style and let that fit you.
10. The Danger of Over-Confidence
The “beginner’s luck” experienced by some novice traders may lead them to believe that trading is the proverbial road to quick riches.
Over-confidence is the belief that one’s abilities, knowledge, or qualities are better than average.
This over-confidence is a risk factor for certain types of mistakes and other negative outcomes as it leads to complacency, a lack of preparation, and an overestimation of one’s abilities.
Overcome by: Realize your limitations and watch for overconfidence to appear.
11. The Importance of Accepting Losses
Losses are always a part of trading life, but they can be overwhelming when they occur.
It is important to recognize that losses are in fact an inevitable part of growth and development as a trader.
Overcome by: Journal all of your losses. Look for patterns to appear. Adjust your trading strategy as appropriate.
12. Quit Your Job Too Fast
Quitting your job too fast is not a good idea, as it will force you to place trades that may not be the best set-ups.
Day trading can be a very risky venture, and it is possible to lose everything you have invested.
It is important to be aware of the risks before getting started. More importantly, do not quit your job too fast. This can lead to losses in your investments and could potentially put you in a worse financial situation than you were before.
Overcome by: Keep trading as a side hustle. Hone your trading skills and build up a reserve fund that will cover your monthly expenses. You will know when you are prepared to leave your 9-5.
Common Mistakes in Stock Trading
According to a study by the U.S. Securities and Exchange Commission, technical trading mistakes are actually fairly common among individual investors.
Mistakes in technical trading can be two-fold, either due to lack of knowledge or poor execution.
The most common mistakes are buying at the top and selling at the bottom, overtrading, and not taking the time to properly understand how trading works.
Now, let’s dig into all of the common trading mistakes I see.
1. Overtrading
Let’s start by talking about overtrading. This is a mistake that I see many people make. It is also a mistake that could have been easily prevented if you had just done your research before placing the trade.
Overtrading or placing more orders than you should do is the most common mistake.
Many new traders will simply open up their platform, look at the market, and place a trade. They are often chasing after the last couple of candles or they see an opportunity to get in “on the cheap”.
The problem with this approach is that you have no idea if this is a good trade or not. You are simply taking a shot in the dark and hoping for the best.
Overcome by: Only place the A+ setups that you like. Once you have traded so many times per day or week, stop trading.
2. Buying High and Selling Low
We all have heard the saying, “buy high and sell low.” However, too many novice traders do the complete opposite.
This trend happens with one of the emotional mistakes of FOMO; we already dived into that concept earlier.
Overcome by: Follow your trading plan on when to enter and exit the trade. Practice your strategy in a simulated account and master it.
3. Lack of Trading Knowledge
The lack of trading knowledge is a problem for many traders who are not familiar with how the stock market works. This can cause them to make mistakes when buying and selling stocks, which could result in losing a lot of money.
Just because you made a profit once on one stock does not mean that is a repeatable action.
In order to be successful in trading, it is important to have a good understanding of the markets and the strategies involved.
Without proper training, you are likely to make costly mistakes that can cost you money. Trading courses and tutorials are available online and through other resources to help you gain this knowledge and become a successful trader.
Overcome by: Take an investing course. Spend money on your education and not your losses. Here is a review of my favorite day trading course.
4. Following Too Many Strategies
Following too many strategies is a common problem in the investing world, which can lead to poor performance and more costly mistakes.
There are a million and one different approaches on how to trade the stock market, which indicators to use, whose advice you should follow, so on and so forth.
And then, many traders try and couple the strategies together only to quickly learn they may cause more losses than profits.
One way to avoid following too many strategies is by using a set of rules to decide which strategies are appropriate for investing.
Overcome by: Develop your trading plan. Outline the investing strategies you will use. Test any new strategies in SIM first.
5. Do Your Research
The solution to this problem is simple: do your research!
Before you enter a trade, take the time to do some analysis on the asset you are looking at. Look at past price action, news events, and any other relevant information that you can find.
Understand why the market might move in your favor and be able to build a case for it. The more data points you have supporting your position, the better off you will be.
If you are able to build a strong case for why the asset will move in your favor, then you can enter with confidence. This is because if the market does not move in your favor, you will know that it isn’t because of a lack of research on your part.
When you enter with confidence, this will make it easier to hold through the inevitable volatility and price swings.
Overcome by: If you enter without knowing why something is likely to move in your favor, then you are setting yourself up for failure. Do your research.
6. Not Using Stop-Loss Orders
Stop orders come in several varieties and can limit losses due to adverse movement in a stock or the market as a whole.
Tight stop losses generally mean that losses are capped before they become sizeable. However, you may have your stop loss too tight and get stopped out before your stock has room to move.
A corollary to this common trading mistake is when a trader cancels a stop order on a losing trade just before it can be triggered because they believe that the price trend will reverse.
Overcome by: Plan your stop loss in advance. Stick to it as it is part of an overall risk management strategy.
7. Letting Losses Grow
Active traders can be harmed by refusing to take quick action to close a losing trade.
It is important to take small losses quickly and limit your risk in order to stay profitable.
Stop losses can help you avoid larger losses.
While the stock may come back to your buy price, you have increased your risk far beyond what you planned. If your planned loss was $300 and now you are down over $500, it will take that much longer to overcome that growing loss.
Cut your losses. Review the chart. See what a better entry point may be.
Overcome by: If the stock moves past your pre-determined stop, then exit the trade. Don’t trade on hope.
8. Chasing After Performance
Many day traders are tempted to chase stocks, which is a bad reputation in the day trading world.
This happens when they see a stock that has had a large price increase and they think that it will continue to go up. In reality, this is not usually the case, and chasing stocks can lead to big losses.
What goes up must come down, right?
Overcome by: Wait for a better time to enter the trade according to your trading plan.
9. Avoiding Your Homework
It is important to do your homework. If you avoid doing your homework, then don’t expect fast results
Many new traders often do not do their homework before making any investment decisions.
This can lead to costly mistakes that can be avoided by doing some basic research. Trading is a complex process and should not be taken lightly – make sure you are fully prepared before risking your hard-earned money.
Overcome by: If you have not enrolled in an investing course, do that. Set daily goals on how to improve your trading performance that is not based on profit or loss.
10. Trading Difficult and Unclear Patterns
It is important to stick with the patterns and indicators that are clear and unmistakable so you don’t get caught up in any ambiguous or unclear trading signals.
With a little bit of research and understanding, these market patterns can become quite clear.
By forcing a chart to fit in what you want, then you are putting your trading capital at risk.
Overcome by: If you cannot read a clear chart or pattern, then quickly move to the next stock.
11. Poor Reward to Risk ratios
The most common mistake made by traders is poor risk management. This usually means taking on too much risk in relation to the potential rewards, which can lead to heavy losses if the trade goes wrong.
It is important to always have a solid plan for how much you are willing to lose on any given trade and never deviate from it.
What is the Reward to Risk ratio you look for:
1:1 Reward to Risk
2:1 Reward to Risk
3:1 Reward to Risk
Many beginner traders do not want to take on as much risk because their appetite for potential rewards may be lower. It is important for beginners to consider their trading strategies and risk management plans so that they can make the most informed decisions possible.
Risk-to-reward ratios are an important part of trading, and experienced traders are typically more open to risk in order to maximize their potential rewards. This means that they may be more likely to make high-risk, high-reward trades.
Overcome by: Stick to Risk to reward ratios that fit your trading plan.
12. Ignoring volatility
Volatility is the fear and unknown in the market.
The most important thing to remember about investing is that the stock market can be volatile.
A measure of volatility is from the VIX.
Overcome by: Decide how you will trade when the VIX is high and the news is negative.
13. Too Many Open Positions
Entering too many positions is one of the most common mistakes investors make. A portfolio should consist of a handful of top-performing investments that have proven to be good bets over time.
It is unwise to open too many positions in a short amount of time because it could lead to confusion.
This can be risky because if one or two of the positions go south, the entire portfolio can suffer. For this reason, it is important to carefully consider each position before opening it and make sure that all positions are contributing positively to the overall goal.
Overcome by: As an active trader, stick to under 5 open positions. As a long-term investor, look to build a portfolio of 25 stocks over time.
14. Buying With Too Much Margin
Most brokers offer 2:1 or 4:1 margin to cash. While this is tempting to use, it can also give you a margin call.
Margin can help you make more money by increasing your position size, but it can also exaggerate your losses.
Exaggerated gains and losses that accompany small movements in price can spell disaster for a new trader using margin excessively.
Overcome by: Use your cash only. Stay away from using margin.
15. Following Meme Stocks
These are the stocks made popular by many Reddit personal finance groups.
You have probably heard of Gamestop, Blackberry, AMC, or Bed Bath and Beyond as a meme stock.
While these stocks have risen to crazy highs, they have also fallen just as fast. Chasing the high may leave you with a big and painful loss.
Overcome by: Stick to your stock watchlist.
16. Buying Stocks With No Volume
Buying stocks with no volume is a risky idea that involves placing an order on a stock without knowing how much interest there will be in the shares. This can result in losing money if there are no buyers for the shares.
It is important to validate the price of a stock by looking at volume. The volume shows how much interest there is in a stock and can be indicative of future price movement.
When volume is low, it’s best to stay away from buying stocks as it could be a sign that the stock price is not stable.
Overcome by: Trade stocks with a volume of at least 500,000 or higher.
17. Ignoring Indicators
Indicators are things that tell us the market is going up or down. Examples of indicators would be the stock market at a particular point in time, a company’s performance with regards to earnings, the price of a product or service.
Every trader has their own set of indicators they use.
If you have outlined indicators you use in your trading, make sure to follow them regardless if it is against the way you want the stock to move.
Overcome by: Stick to your trading plan for each stock individually.
18. Trading Too Large Position Sizes
Trading too large position sizes is a risk that traders may run into when they hold positions in their portfolios for extended periods of time.
Position size is the amount of money placed on a trade, and the risk is that a trader may lose more than their capital on the trade if it does not go well.
Overcome by: Base your position size on the amount you are willing to lose. Not how much you want to make.
19. Inexperienced Day Trading
In order to be successful in trading, it is important to have a good understanding of the markets and the strategies you are using. Without proper training, it is easy to make costly mistakes.
Too many day traders turn trading into an unnecessary risky game.
To be successful, a day trader must have a solid foundation in how to invest in stocks for beginners.
Overcome by: Practice in a simulated account and make all of your mistakes there before moving to live money.
20. Inconsistent trading size
Inconsistent trading size is when traders are unable to predict what their position size should be in order to meet the trader’s desired profit goal.
Trading size is one of the most crucial aspects of a trading strategy and should be considered carefully. Larger trade sizes come with an increased risk, so it’s important to be aware of your position size when making trades.
Overcome by: Don’t risk too much on one trade. Stick to your risk management plan.
21. Trading on numerous markets
Trading on numerous markets is when a trader invests in stocks, bonds, commodities, crypto, and other securities.
Every type of market moves differently and takes time to understand how to be profitable.
Overcome by: Find your niche and stick to it.
22. Over-leveraging
Leverage is a powerful tool that can be used to magnify gains and losses in a trade. It is important to be aware of the amount of leverage being used in order to effectively manage risk.
Brokers play an important role in protecting their customers by providing margin calls and other risk management tools.
Overcome by: If you feel over-leveraged, sell some positions before your broker gets involved.
23. Overexposing a position
Overexposure is a term used in the investment world to describe the risk that comes with exposing your position too much in the market. When you have overexposed your position, you are putting yourself at risk of losing money if the stock or security you are invested in falls in value.
You are taking on too much risk.
Overcome by: Stick to your risk management plan. Always have cash reverse on hand in case the market reverses.
24. Lack of time horizon
There are different time horizons for various types of trading strategies. It is important to think about the time horizon you are comfortable with before investing in any type of investment.
If you are a day trader, you plan to close your trades before the end of the trading session. As a swing trader, you typically hold trades for a couple of days maybe up to a month. As a long-term investor, you plan to hold your stocks for longer than a year.
Overcome by: Match the time horizon of that investment purchase with your investing goals.
25. Over-reliance on software
Although some trading software can be highly beneficial to traders, it is important not to over-rely on it.
Automated trading systems are becoming so advanced that they could revolutionize the markets. As a result, human traders need to be aware of the potential for these systems to make mistakes and use them in conjunction with their own judgment.
Overcome by: Set alerts before you want to enter or exit a trade. Then, review if the move still follows your trading strategy.
Top Options Trading Mistakes Beginner Traders Make
These options trading mistakes are specific to option trading.
Trading options is an advanced strategy. If you have losses trading stocks, wait before you start trading options.
1. Not having a Trading Plan
Every trader needs a trading plan that outlines strategies, game plans, and trade metrics.
When you are trading without a plan, you are essentially gambling and hoping for the best.
This is not a recipe for success in the world of stock trading and is especially true for options traders.
A good trading plan should include chart analysis so that you can make informed decisions about when to buy and sell stocks. If you are using HOPE instead of a trading plan, then you need to find out the right way to interpret the chart because that will give you a better idea of what is happening in the market and how likely it is that your investment will succeed.
Overcome by: Create a specific trading plan based on your option strategy.
2. Not properly Researching Option Contracts
Learning to trade options is like going to school for a whole different trade.
There are way too many technical aspects to discuss in this mistake.
Spend time learning what criteria you want from an options contract to be successful.
Overcome by: Learn how options work and practice trading options in the simulator before going live.
3. Trading without an understanding of the underlying asset
Before you start trading options, trade with stocks.
Every stock moves at its own beat. You need to learn how it moves.
Jumping into options prior to knowing the stock can cause extreme losses. Learn how the underlying asset moves first. Be successful in trading stocks before moving to options.
Overcome by: Learn to trade the stock with shares first. Then, practice in a simulator. Once familiar, then trade live with options.
4. Buying Out-of-the-Money (OTM) Call Options
Options trading is a risk-based strategy. It’s important to know which strategies are right for you and what the risks of each option type are before putting on an option trade.
One common mistake that many traders make when it comes to option trades is buying out-of-the-money (OTM) call options.
This is because OTM call options are inexpensive and have a range of around 100,000 to 1 million. To avoid this mistake, it’s important to know what the risks of buying OTM call options are and which option strategies are appropriate for you.
Overcome by: Focus on trading In-the-money (ITM) call contracts. Know your strategy.
5. Not Knowing What to Do When Assigned
When you enter into an options contract, you are essentially agreeing to buy or sell the underlying asset at a specific price on or before a certain date.
If the market moves in a way that benefits the buyer of the option (the person who contracts to buy the asset), they can choose to exercise their option and purchase the asset at the agreed-upon price. However, if the market moves in a way that benefits the seller of the option (the person who contracts to sell), then they may “assign” their contract to someone else – meaning that they no longer want to buy/sell the asset, but would like someone else to take on that responsibility.
This can be jarring if you haven’t factored it into your decision-making when trading options, so it is important to be aware of the possibility.
This is why traders need a higher trading level to sell options contracts or verticals.
Overcome by: Be okay with buying the shares if you are assigned. That is a part of your trading plan.
6. Legging Into Spreads
It is a common mistake for traders to get legged into spreads by entering positions when the market price has moved away from their position. They may have gotten caught up in the belief that they are being a “smart” trader by trying to profit from the spread.
The problem is that they are not taking into account that their cost basis must go up in order to maintain the position. If the market price of the underlying goes up, their cost basis must go up as well.
Overcome by: If you are not comfortable with this advanced strategy, then exit your options contract and place a new one.
7. Trading Illiquid Options
Trading illiquid options is a mistake because traders are taking on too much risk, with potentially disastrous consequences.
Illiquid means that the option cannot be bought or sold at the given time.
In other words, the option is not tradable. When traders trade illiquid options, they are taking a risk that their trades will not be executed because there is no liquidity in the market at that time. They have to hope that the market will become liquid again, and they can then sell their position or buy back their option at a lower price.
Overcome by: Check option volume and open interest at your strike place. Verify you have interest in moving your contract.
8. No Exit Plan
It is important to have a plan in case your trading strategy doesn’t pan out as planned.
This will give you the peace of mind that you won’t be left high and dry without an exit strategy.
With options is it more difficult to limit your risk to reward. As a result, you must decide your exit plan in advance.
Overcome by: Develop your trading strategy and include how and when you will exit the option contract.
Ready to Avoid these Trading Mistakes?
Investors are often their own worst enemy when it comes to trading.
They make emotional decisions instead of logical ones, and this leads to them making costly mistakes. Plus there are many technical errors new and seasoned traders are still making.
In order to be successful in the markets, investors must first learn to accept their losses and move on. Only then can they put that mistake behind them and focus on making profitable trades in the future.
In this post, I shared some of the more common trading mistakes that people make and how to avoid them.
Now, you have to work to avoid these trading mistakes and be profitable.
Know someone else that needs this, too? Then, please share!!
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
Investing in stocks can seem like a daunting task.
There are so many things to consider when it comes to investing, and the stock market is constantly moving.
Stock market investing is a popular option to increase net worth and make money.
Many people are looking for ways to invest their money, with the number of individual investors increasing rapidly in recent years.
This guide covers many important factors for how to invest in stocks for beginners.
Starting out as a newbie trader can be scary and overwhelming… don’t worry, all seasoned traders had to start at the beginning too!
Let’s take away that quell those thoughts and focus on why you want to learn to invest in stocks.
This guide will give you everything you need to know about how to invest in stocks as a beginner investor!
What Are Stocks?
In the most basic form, stocks are a form of investment. When you own a stock, you have a piece of ownership in the company’s equity.
The stock market is a real-time financial market in which investors buy and sell stocks and other securites. The stock market is made up of many companies and individuals who are actively investing in stocks.
Stocks are an excellent way for companies and individuals to invest in a company and receive a share of the company’s profits.
Many of the growth stocks (FAANG stocks) are those who investors want their stock price to increase over time. Thus, increasing their overall portfolio’s net worth.
FAANG Stocks is an acronym for: Meta (formerly known as Facebook), Amazon, Apple, Netflix, and Alphabet (formerly known as Google).
Some companies like Chevron (CVX) pay out a dividend each quarter to their investors.
There are thousands of stocks available to trade.
What Can You Invest In The Stock Market?
There are many investment opportunities in the financial market, so it is important to be informed about what you can invest in. Below are some of the places where you can invest your money:
Stocks
Bonds
Mutual funds
ETFs
Commodities
Futures
Options
Now, we are going to look at the most common.
Individual stocks
Individual stocks are a type of investment that you can make yourself.
You can choose how many shares of a certain company you want to purchase.
For example, you like Tesla for how they are innovative in the electric car space. You can choose to invest 20 shares of their stock.
As a long-term investor, you want to hold a portfolio of 10-25 stocks. Find a list of beginning stocks to build your portfolio.
Individual stocks can be bought or sold as a way to dip your toe into the stock-trading waters.
As a short-term investor, you are looking to make money as the stock price increases or decreases.
Mutual Funds
Mutual funds are managed portfolios of stocks.
As a result, mutual funds typically have load fees equal to 1% to 3% of the value of the fund.
One of the most popular mutual funds is VTSAX because of its expense ratio is .04%
Mutual funds are a clear choice for most investors because of the simplicity to invest in the market. This can be a good investment for both novice and experienced investors, as they offer decent returns with lower risk.
They tend to rise more slowly than individual stocks and have less potential for high returns. Mutual funds are a great way to diversify your portfolio and gain exposure to a variety of different securities.
All mutual funds must disclose their fees and performance information so that you can make an informed decision about whether or not to invest.
Exchange traded funds (ETFs)
Exchange traded funds (ETFs) are a type of exchange-traded investment product that must register with the SEC and allows investors to pool money and invest in stocks, bonds, or assets that are traded on the US stock exchange.
They are inherently diversified, which reduces your risk.
This is a good option for beginner investors because they offer a large selection of stocks in one go.
ETFs have a lower minimum to start investing, which is a draw for many investors starting out with little funds. Plus there are many different types of ETFs to choose from.
ETFs are similar to mutual funds, but trade more similarly to individual stocks. With ETFs and Index Funds, you can purchase them yourself and may have lower fees.
Why Stock Prices Fluctuate
Stock prices fluctuate because the financial markets are a complex system. There are many factors that can affect the price of a stock,
There are a number of factors that can influence stock prices, including:
Economic indicators like GDP growth, inflation, and unemployment rates
Company earnings reports
The overall health of the economy
Political and social instability
Changes in interest rates
War or natural disasters
Supply and demand,
Actions of the company’s management
Short squeezings like what happened with GME or AMC
The volatility in the stock market is the #1 reason most people stay out of investments. However, on average, the stock market has moved up 8-10% a year.
What is the best thing to invest in as a beginner?
The best thing to invest in as a beginner is your time.
You need to learn how the stock market works. Just like you would get a certification or degree, you should highly consider an investing course.
Learn and devote as much time as you can to investing in stocks.
How To Invest In Stocks For Beginners?
Investing in the stock market can be a great way to make money! If you’re looking for ways to make money or grow net worth, investing in a stock is a smart choice.
With online access and trading being easier now than ever, it can be easier than ever to start buying stocks.
Let’s dig into how to invest in stocks like a pro.
FYI…You should do your own research before investing.
Step #1: Figure out your goals
Figure out your goals to help with setting an investing strategy.
What are you trying to achieve with stock market investing? Is it supplemental income? A certain level of wealth for retirement? Are you looking for short-term or long-term gains?
Once you know what you’re aiming for, it will be easier to find the right stocks and make wise investment decisions.
Your reason to invest in stocks will be different than everyone around you.
Some people want to supplement their weekly income.
Others want to invest in companies for the long term.
My goal is to make weekly income from the stock market. That is my investment strategy for non-retirement accounts.
You need to spend time understanding WHY you want to buy stocks.
Knowing this answer will help you define what type of trader you will be.
Step #2. Decide how you want to invest in the stock market
When you decide to invest in the stock market, you need to choose what you want to invest in.
You can invest in stocks, which are shares of ownership in a company, or you can invest in bonds, which are loans that a company makes. There are also other options like mutual funds and exchange-traded funds (ETFs), which are collections of stocks or bonds.
Also, you can expand this to what types of investments will you have in various retirement or brokerage accounts. For example, you may invest in mutual funds with your 401k, ETFs with your Roth IRA, and stick with individual stocks for your taxable account.
This is a personal decision.
Many people when they are first starting to trade stocks choose to limit purchasing stocks with a limited percentage of their overall portfolio.
Step #3. Are you invest in stocks for the short term or long term?
The buy and hold investor is more comfortable with taking a long-term approach, while the short-term speculator is more focused on the day-to-day price fluctuations.
Once again, this is a personal preference.
One of the most common themes of many investing gurus is, “Remember that stock prices can go down as well as up, so it’s important to stay invested for the long term.”
However, this full-time trader wants to make money on those highs and lows.
Knowing your overall investment horizon will help you decide how much time you plan to hold onto your investments to reach your financial goal.
Also, you can choose different time horizons for different accounts.
Step #4: Determine your investing approach
Passive and active investing are two main approaches to stock market investing.
Passive investing does not involve significant trading and is associated with index funds.
Passive investing is a way to DIY your investments for maximum efficiency over time.
Thus, you would contribute to your investment account on the xx day of the month with $xx amount of money.
This happens with consistency regardless of where the market stands on that day.
You are less warry of where the stock market will go and focused on overtime it will continue to go up.
Active investing takes the opposite approach, hoping to maximize gains by buying and selling more frequently and at specific times.
Active investing is when an investor is actively acquiring, selling, or holding bought stocks.
This could be with day trading or swing trading.
You may hold stocks for less than a day, a few days, or a couple of weeks.
The purpose of having active investing is to make profits.
In the stock market, investors make efforts to increase their net worth over time or to make income off the market.
Step #5: Define your investment strategy
When it comes to investing in the stock market, there are a few key factors you need to take into account: your time horizon, financial goals, risk tolerance, and tax bracket.
Do you want to be an active trader or stick with passive investing? What kind of investor am I?
There is no right or wrong answer as this is a personal preference.
Ultimately, you want returns to be greater than the overall S&P 500 index for the year.
Once you’ve figured these out, you can start focusing on specific investment strategies that will work best for you.
Be aware of any fees or related costs when investing. Fees can take a bite out of your investments, so compare costs and fees.
Step #6: Determine the amount of money willing to lose on stocks.
Trading stocks online is inherently risky.
You want to consider what your “risk tolerance” is. Simply put, how much are you willing to lose in stocks before you want to quit?
The biggest reason most people quit trading stocks is that they do not know their risk tolerance and fail with risk management.
You will lose on trading stocks. The goal is to lose a small amount on some of the trades and gain a greater amount of more of your trades.
How much risk you can reasonably take on given your financial situation?
What are your feelings about risk?
What happens when your favorite stock drops 25%?
Understanding your risk tolerance and how much you are willing to lose will help you keep your losses small.
Start with a small amount of money when investing in stocks. Also, make sure you have enough money saved up so you can handle any losses that may occur.
How to Start Investing in Stocks
There are a variety of ways to start investing in stocks. Some methods include getting a small account balance and then buying shares, creating an investing club with friends, or researching the companies you want to invest in.
Now, that you have determined how and why you want to invest in stocks. Let’s dig into the nitty gritty of how to manage a stock portfolio.
On the other hand, if you don’t invest enough, you could miss out on potential profits. Try starting with an amount you’re comfortable losing if the stock market does go down.
1. Open an investment account
There are a few things you need to do in order to start investing in the stock market.
The first is to open an investment account with a broker or an online brokerage firm.
There are different types of accounts you can open:
Taxable accounts like an individual or joint brokerage
Retirement accounts like IRA or Roth IRA
These are the most basic investment accounts, here is a list of types of investment accounts.
If you plan to hold EFTs or mutual funds, Vanguard is a great place to start.
If you plan to be an active trader, I would look at TD Ameritrade or Fidelity. Be wary of Robinhood or WeBull.
2. Saturate yourself in Stock Market Knowledge
On the simplest level, it can be incredibly easy to begin your investing career with little-to-no knowledge, research, and expertise.
If you have even a remote understanding of stocks, then learn what you need from an easy-to-find YouTube video, followed by watching some of your favorite TV shows to learn more about the market and its secrets.
With that said, you need to be digesting the basics from start to end of getting your first investment started.
As the title reveals, investing can seem intimidating and complicated. Thus, stock market knowledge is invaluable.
3. Consider an Investing Course
A typical investing course would teach how to invest in stocks (and possibly other investments).
As a beginner trader, it is unlikely you will know the full extent of how the stock market works. There are many intricacies you must learn and understand.
Beginners should learn about stock investing basics, such as diversification and investment criteria.
Many investing courses offer a platform on how to make money by trading stocks.
Personally, I highly recommend buying this investing course.
If you choose not to follow my advice, that is fine. Come back when you have lost more money in the stock market than the price of the courses.
I CAN NOT STRESS ENOUGH… how important it is to have a solid foundation and practice in a simulated account before you use your real money.
4. Research the companies you want to invest in
When you’re ready to start investing in stocks, it is important that you do your due diligence and research the companies you want to invest in.
Look for trends and for companies that are in positions to benefit you.
Consider stocks across a wide range of industries, from technology to health care. It’s also important to remember that stock prices can go up or down, so always consider this before making any investment decisions.
5. Choose your stocks, ETFs, or mutual funds
Next, you have to decide what fits your investing strategy. Are you looking to buy:
Stocks
ETFs
Mutual Funds
Regardless of which type of investment you make, you must look for companies that have attractive valuations and growth prospects. In the case of index funds or ETFs, which fund has the companies you find attractive.
Most importantly, you should also take into account the company’s financial health and its prospects for future growth.
Make sure you understand the risks associated with holding a particular stock, including possible price fluctuations and loss of value.
7. Take the Trade
This is the hardest step for most people is to take their first trade.
Thus, why learning to trade stocks is great to learn a simulated account using fake money. Then, move to a LIVE account using your real money.
At some point, in your investing in stocks journey, you must press the buy button.
For many the investment platform may be overwhelming to use, so check out your brokerage’s YouTube videos to help you out.
8: Manage your portfolio
Managing your portfolio is important to keep your investments in good shape.
If you are a long-term investor, diversify your portfolio by investing in different types of investment vehicles and industries.
If you prefer to swing trade or day trade, then you want to make sure you always have cash on hand and are rotating your portfolio to take profit.
Investing can be difficult for beginners who often lack knowledge about the stock market.
It is important to remember to keep investing money and rebalance your portfolio on a regular basis. This will help ensure that you stay on top of your investments and achieve the desired result.
9. Selling Stocks
For most investors, it is harder to sell their stocks than to purchase them. There are a variety of factors for that. But, you must sell your stocks at some time to realize your gain.
Don’t panic if the market crashes or corrects – these events usually don’t last very long and history has shown that the market will eventually rebound. Most people tend to panic sell when stocks are low and FOMO buy when the market is at highs.
When you are ready to sell, aim to achieve a percentage return on your investment.
This will require some focus on your time horizon and the stocks you want to invest in.
Also, you need to consider any taxes that may be owed on the sale of stock.
If you’re new to stock investing, consider using index funds instead of individual stocks to gain broad market exposure.
10. Journal & Analyze your Trades
Journaling is a way of recording the important decisions you make during trading to help yourself remember what happened in your trades. It can be used as a tool for reflection, learning from mistakes, and reviewing your strategy.
Analyzing your trades means looking back on your trading history with the goal of improving it.
This is the most overlooked step of the investing process.
When it comes to buying and selling stocks, journalling what is happening in the market is an important part of being a successful investor.
Stock Market Investing Tips for Beginners
Ask any seasoned trader, and they will have a list of investing tips for beginners.
They have made plenty of trading mistakes they do not want to see newbies do the same thing.
When starting to invest in the stock market, beginner investors often seek out consistent and reliable investments.
This allows them to slowly learn about the stock market and take calculated risks while also earning a return on their investment. Over time, as they gain experience, they can expand their portfolio to include riskier but potentially more rewarding stocks.
1. Invest in Companies That You Understand
An investor should know the company they are investing in and have an idea of what type of return they expect.
When you are starting out, it is best to invest in stocks of companies that are easy to understand and have a proven track record.
Do NOT invest in stocks based on the advice of friends, what you read in the news, or on a whim – these can be risky moves. Be wary of the popular stocks you can find on the Reddit Personal Finance threads.
2. Don’t Time the Market
In the world of investing, there is one rule that no investors should ever break: do not time the market.
By following this rule, you will always be on top of your investments and will be able to reap the rewards.
There are times to buy stocks and sell stocks. This is something you will learn when investing in a high-quality investing course.
As an average investor, trying to time the market will leave you frustrated by your minimal returns or great losses.
3. Avoid Penny Stocks
Penny stocks are the lowest-priced securities on the market, and they don’t offer any significant upside potential to their investors. While you may hit a home run return on some, many penny stocks tend to trend sideways.
The risk is not worth the return.
If you plan to invest in stocks, avoid penny stocks and focus on healthy companies.
4. Consider Buying Fractional Shares
Fractional share investing lets investors buy less than a full share at one time. Many times, you may not be able to afford the price of a full share.
For example, buying a share of Amazon (AMZN) may cost you upwards of $2800 or more. Thus, you can invest a smaller amount with a fractional share.
You would have to check if your brokerage company allows the purchase of fractional shares.
5. Stay the Course
In order to be successful, a trader must stay the course and maintain their focus. By staying focused, they will have less chance of making mistakes that may lead to big losses or overtrading.
When you’re starting out in the stock market, it’s important to be disciplined with your buying. Don’t try to time the market, because you’re likely to fail. Instead, buy shares over time and stay the course.
That way, you’ll be more likely to see a profit in the long run.
6. Avoid Emotional Trading
In order to be successful in the stock market, you have to maintain a level head.
Responding emotionally will only lead to bad decision making. Instead, stay the course and trust your research and analysis.
Know your weaknesses as well as your strengths.
7. Do Your Research
When you’re ready to start investing in the stock market, it is important to do your research so you can make informed decisions.
There are a lot of stocks to choose from, and it can be tempting to invest in them all.
But remember, you don’t want to spread yourself too thin. Invest in stocks that you believe in and that have a good chance of making you money.
8. Build Wealth
Stock market investing is one of the best ways to grow your money over time.
For long-term investing, you buy stocks in companies and hold them for a period of time, typically years. Over time, as the company grows and makes more money, so does your stock. This is one of the most common ways to build wealth over time.
The other way with short-term investing is to consistently take profit and grow your account over time.
Stock investing FAQs
Here is a list of the most common questions and answers on stock investing.
Q: What is the difference between investing and trading?
Trading is buying or selling financial products with the goal of making a profit. This is normally a day trader or swing trader.
Investing, on the other hand, refers to the process of putting money into an investment with the hope that it will grow. Someone who is focused on the long-term.
Q: Do you have to live in the U.S. to open a stock brokerage account?
No, you do not have to live in the U.S. to open a stock brokerage account. You must find a brokerage company in your area of residence abroad.
Q: How much money do I need to start investing?
The very common question of, “How much should you invest in stocks first time?”
It is recommended to start investing with $500 or more. However, you can start with Acorns with as little as $5.
Check out this investor’s story by starting with a small account of $500 and growing it over $35k in less than 6 months.
It is best to grow your account with your growth or profit.
Q: Do I have to pay taxes on the money I earn from stocks?
Yes, you will be required to pay taxes on the money you earn from stocks.
Q: What are the best stocks for beginners to invest in?
The best stocks for beginners to invest in are those that have a history of staying consistently on an uptrend. These companies’ stock prices have typically risen over the course of the year.
Find a list of beginning stocks to build your portfolio.
Q: How do beginners buy stocks?
Above, we outlined this in detail. In order to buy stocks, there are a few different steps that you should follow in order to maximize your chances of success.
The first step is making sure you have an account. Once you have an account, the next step is to decide which stocks you want to invest in. Then, you must buy your stock. Finally, you must decide when you want to sell your stock for a realized gain or loss.
Q: How many stocks should you own?
The best answer is it depends on your investing strategy.
As a short-term investor, you can only manage a smaller number of trades.
As a long-term investor, you need a more well-rounded portfolio. of15-25 stocks.
More likely than not, the short answer is “as many as you can afford.”
Q: What is the best thing to invest in as a beginner?
The best thing to invest in as a beginner is an index fund.
Indexes are great because they diversify across many different types of investments and don’t require much effort on the part of the investor to maintain. Index funds are also less risky than other investments, especially in the beginning stages of an individual’s investing career.
Q: How do we make money?
Traders make money in many ways. They can trade stocks, bonds, futures, and options on equities. They can go long when the market goes up and short when the market goes down.
Traders also use trading systems that are usually automated to manage the trades they make to maximize profit.
Trading is a risky investment and it’s not uncommon for traders to lose money. In order to keep losses small, many traders use the trading strategy based on minimizing risk in order to get the desired return.
Learn how fast you can make money in stocks.
Q: Why is Youtube Option Trading So Popular?
Video on how to trade options is very popular on Youtube. This is because of the high volume of interest on this topic.
For many people, learning options is an advanced strategy that takes more time and knowledge to learn.
This is my favorite youtube option trading channel as well as an overall investing strategy.
Additionally, traders are able to get a much higher return on motion trading versus going long or short on stocks.
Q: What is volume in stocks?
Volume is a measure of the number of shares traded in a given period, usually trading days.
This is an important metric if you plan to exit your trade to know there are enough buyers to buy your stock.
Q: How to invest in penny stocks for beginners?
Penny stocks are shares of a company that typically trade for less than $5 per share, which is also known as penny stock trading.
Investing in penny stocks can be a lot of fun and the highest risk, and there are many ways to get involved. For anyone who is new to the world of investing in penny stocks, it can be intimidating to know where to start.
However, there are a few things that you should keep in mind before diving into the world of penny stocks. One of these is researching what types of companies you want to invest in. Many of these penny stocks are not healthy companies and burning through cash.
It is important to always be careful when investing in penny stocks. Keep in mind that the risk of losing money is high and you should invest only what you are willing to lose.
Q: How to invest in stocks for beginners robinhood?
Robinhood is a stock brokerage company that allows users to invest in stocks without paying any fees. It also provides real-time quotes and charts. To invest, the user must have an account with Robinhood that holds at least $0.
Most major brokerage companies have zero commission fees on trading stocks as well.
Beware, Robinhood is known for stopping to trade various stocks during times of volatility whereas other’s brokers do not.
Q: What is a good price to buy at?
This is a hotly debated question as every investor sees the market from their view.
More often than not, people wonder the best time to buy stocks.
As such, you can read is now a good time to buy stocks?
Ready for Stock Market Investing?
If you are new to investing in stocks, there are a few things you take into consideration before diving into the market.
For starters, it is important to understand how stock markets work. You should also know the difference between a stock and an investment.
Investing in stocks can be a bit complicated, but this guide walked you through the basics of how to invest.
Before you invest in stocks, it is important that you understand your investment strategy. That way, you can make informed decisions about where to put your money and how much risk you are willing to take on.
Most people shy away from learning how to actively trade stocks because of the movies about Wall Street they have watched.
You will get a deeper understanding of investing in stocks the longer you educate yourself on the concept.
Overall, it is wise to diversify your portfolio and don’t put all your eggs in one basket.
So, what is your next move to start investing?
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