How I turned 400 Mexican pesos into millions by investing

I started my journey in the Investments five years ago while working full time. I was fortunate to have stability and a job that allowed me to earn more money than I needed at the time. Unlike my colleagues, I started reading instead of partying on the weekend Investment books Yes how to play on the stock market. As a typical millennial, I started playing irresponsibly with the market in search of quick wins, then I quickly learned that it didn’t work. So I started learning how to invest for the long term. This led me to research various brokers (brokers) and researching where my money would be best served, so I opened a brokerage account and deposited only $ 20 (about 400 Mexican pesos). I was working for a public company at the time, so it made sense for me to buy $ 20 off that particular asset, and I did. He knew this company was and would continue to be successful.

My thirst for knowledge didn’t stop there. I started reading books like The Intelligent Investor by Benjamin Graham, Reminiscences of a Stock Operator by Edwin Lefevre, and the like. As I continued reading and studying, I quickly realized that the key to prosperity was not daily trading, it was Long term investments. Instead of having a savings account, I decided to put all of the excess money in my brokerage account. I set myself a goal and when I achieved that goal, I bought the money Actions in different companies that caught my attention. It was’nt easy. To do this, I had to do extensive research on the respective companies and why they fit well into my portfolio. In the beginning I made the mistake of having more than 40 companies in my portfolio and none of them made any significant gains. I took the “smart investor” approach and started focusing on a small number of companies that would allow me to grow my wealth and hold my attention steadfast rather than trying to get my attention in 42 different directions to split up.

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How I turned 400 Mexican pesos into millions by investing
How I turned 400 Mexican pesos into millions by investing

We all think that investing in the stock market is just a walk in the park, and with all of the options available today, getting into the market is pretty easy, but do you really win? I made huge mistakes on my investment journey and now my goal is to teach beginners how to avoid these mistakes. In my book “The hectic pace made me: traders and investors 101”I show people how to achieve financial independence by investing and explain in simple terms what I have learned over the years. Today I want to share seven lessons that have been particularly powerful for me.

1. Let the emotions out

Emotions can be good or bad, but most of the time when it comes to investing, they’re your worst enemy. At first I saw a negative day and was ready to throw in the towel, but I knew this wasn’t an option as I was committed to long term. My advice is: keep calm and be confident into the companies you want to invest in, then remember that markets will always rebound if it is a solid company. Be aware that there will be changes in the market, both positive and negative. You should also have a specific goal in mind for how long you want to invest your money in a particular stock. This will help you understand emotions as you move forward in one position.

2. Don’t be silly

Had I known this at the beginning of my investment journey, I would have made better decisions. What I mean is, don’t listen to anyone without doing your own research. Don’t listen to rumors, they will be everywhere. Try to stay away from financial magazines and newsletters. Everyone has opinions on different values, but it is important that you hold firm to what you believe to be true about the companies you have invested in. Remember rule number one. Finally, turn down any advice from national talk shows about money. They all have personal reasons why they want advice on certain investments.

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3. Don’t be arrogant!

That’s a mistake I still make every now and then. When the markets rise, I feel like the smartest person on the planet. When the markets fall, I feel like an idiot questioning all previous decisions. The point here is don’t get arrogant because when the markets are rising everyone is a great investor, but when they are falling you really have to try and stick to rule number one. Let the markets do their thing; they will inevitably correct themselves according to the direction of supply and demand.

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4. Don’t tell people what to buy or sell

This goes along with rule number three. When stocks are doing well, we tend to tell everyone about the big find. However, when they come down, we wish we had shut up. Don’t gamble with people’s money, gamble with yours. It’s okay to talk to your peers about various investment options, but perhaps the most in-depth advice in this article is: Don’t tell people what to do with their money! The last thing you want is for one of your close friends to send you a message telling you how the measures you recommended break in and how you are responsible for the money lost.

5. Be careful when they are not, be silly when they are careful

This is one of the best advice I learned from ‘The Intelligent Investor’, and also some of the best advice you will hear from the Oracle of Omaha, Warren Buffett. It just means that when people walk away from a certain security, that is where you run, and when people leave that market, you get in. This means seizing the opportunity and finding value that others don’t see. Have some cash on hand so that if the market corrects, you have a chance to buy low. Think of it like buying a $ 100 item for $ 70 and expecting it to be worth $ 200 in a few months.

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6. Get paid for the products you use

When you have money to buy one iPhone, you have money to buy stocks Manzana. These are dividend stocks, which means you get paid every quarter for the success of the company. Why aren’t you getting paid for the product you are already using? Why don’t you support the companies you like? It’s easy: rate your favorite brands and find them on a stock index. If these are public companies, I would highly recommend buying some stocks.

7. Invest wisely

Let your money grow and let compound interest keep making money for you. The key is not to get rich quick, but to have a portfolio that will stand the test of time. Diversify this portfolio as much as possible and focus on companies that you know will be successful over the long term. While I’m not here to advise you financially, I recommend holding your shares for two to three years. This gives you the best chance to spot the market trends for that particular asset, then review your portfolio and make any necessary changes.

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Investing is still one of the great tests of patience and emotion. It is not for everyone. Whether it is shares of Cryptocurrencies O Forex, I strongly encourage you to research every investment you make. Our goal at The Hustle Made Me Do It is to teach young people how to be financially independent, and I firmly believe that long-term investing is a surefire way to achieve that goal. It takes a little work and an investment of time, but once you learn things the process is really like riding a bike. You will likely love it, and most importantly, reap the benefits of research and patience.

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