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Gold/Mining/Energy : Winspear Resources

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To: Faze who wrote (4431)	12/14/1997 1:15:00 PM
From: Walt	Read Replies (1) of 26850

Greetings Faze Heres a couple suggestions for you. Get a little book or binder to do your stock work in. When you buy a stock or contemplate buying one work out the math ahead of time. Whats the stock going to cost , whats the commision to buy and what will it cost when you sell. Add those up and divid by number of shares and thats your break even price. Anything above that is profit anything below that is a loss. If you do the various scenerios ahead of time it will give you a better feel for what you are getting into and doing. Rule number one never invest more then you can afford to lose. Rule two decide on your comfort level with stocks. No one picks winners every time so you are going to win on some, break even on othhers and lose on some. Part of the trick is to know when to buy and sell. When do you take a profit and when do you cut your loses and move on to something else. Very few people manage to buy at the absolute low and/or sell at the peak. It takes a certain psycology or mind set to win at the stock market just as it does with gambling. I read somewhere that most gamblers secretly want to lose and there is some trueth to it. If they are winning they just keep playing untill eventually they lose. Its like flipping a coin you have a 50/50 chance of picking it right. the next time you flip you have a 50/50 chance. Same with all the times you flip. If you keep putting all you money on the outcome of the flip eventually you will lose. So when you do your calculations remember that you are going to win some and lose some. The trick is to minimize you loses and maximize your gains and treat each investment as a new round. Rule three. Dont put all your eggs in one basket but dont spread yourself too thin either. If you put all your money in one stock or commodity or area play your fortunes rise and fall on it. however if you invest in to many companies or plays you will also lose because you've spread yourself too thin. Rule four would be to do your own due diligence, find out what you are investing in and make your own decisions. Brokers, IR people and even posters on SI will try to talk you into and out of things but you have to make your own decisions and live by them. I know some people who will only buy stocks under a dollar other who wont touch any stock under five dollars, some buy stocks in companies with lots of irons in the fire others chose stocks with a single property. There are lots of differnet styles of investment out there. Best of luck with your investments, Im sure some others will offer advise. regards Walt

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