Updated: Nov 13
What is that money can’t buy?
It cannot buy you happiness and time but it can make a way to those if you control it before it controls you. Earning money is like blood on the lips. Once you start to earn it becomes a habit, you become sleepless once it starts.
In my first stages of investing in the stock market, I started to research on internet for tips of investment. Which stocks to buy today? This was first search I used to make on Google every morning. Well, I didn’t get great help with that search but of course after some time I started to get profits well not was in thousands but were in a hundred.
I had left one thousand rupees after all expenses, I used them to buy stocks. I was playing intraday on Upstox. I bought 20 quantity of BHEL having 46.95 per unit. I hold them for 3 days and boom!! my first earning. Luckily their value became 53.30 per unit and I ended up having 127rs extra. From that on, it started to become my habit.
After this small earnings started to accumulate it became restless and sleepless for me and then I made my first mistake in life. I borrowed five thousand rupees from friends and I bought some stocks. I hold them and their value started to go down. First I thought they will eventually come up but I waited for one month. My friends started to ask for their money back and after all my expenses I used to left with only one thousand rupees. So I sold those stocks with almost twelve hundred rupees loss. And I repaid my friends.
The negative image of the stock market started to create in my mind because my friends teased me about that loss. They used to say me that if you can’t afford the loss why you do it. Well, that hurt me a lot but it was true.
This incident gave me five most important learning;
1. Never invest borrowed and loaned money.
2. Don’t become greedy, control yourself.
3. Invest as much you can afford the loss.
4. Before investing, learn to earn money.
5. Never tell anyone about your investments. And never give free advice.
Some events in your life are bound to happen and it is for good. That time I thanked myself that I did not borrowed in lakh. Thanks for goodness it was only five thousand and that was not a lot for me that time.
As this event was started to create negative picture of stock market in my mind. I took good learning from it and I stopped it on good note. As I became busy in regular schedule ‘office to room and room to office’, it distanced me from the stock market. I started doing SIP and put some lump sum in mutual fund.
After some time I started to watch YouTube videos, attended some seminars, more importantly, I kept daily updates of the market and read news daily. And I again started to invest. But this time more cautiously.