Today, I am ecstatic to share with you guys my first experience of buying my first stock. I have been waiting for this day since I passed my application forms to COL Financial last month. They emailed me to confirm my account and to deposit an amount with a minimum of 5,000 PHP to activate it and to start investing.
So today that I got my username and password with a fully active account, I also bought one stock.
Don’t get intimidated when first logging in to the homepage of COL Financial. You will see a lot of numbers, decimal points, and percentage symbols. I got lost a couple of times as to where I should click to buy and sell stocks. I guess first times are always tough.
I finally found the right page and then the decision making of what to buy put me to a full stop again. Every minute, the value of each stock changes quickly. I got confused but then I chose one stock which is AC or Ayala Corporation.
AC is considered a giant company and will surely be around after 5 to 10 years. My goal for investing in the stock market is for long-term so I have to make sure I choose the big companies or corporations.
I bought 10 shares because that’s what I can only afford on my budget.
I checked it again after the market was closed for the day and found that I lost 96.48 PHP. It was my first red apparently but it doesn’t bother me at all. I am sure I will find more reds and hopefully greens as well in my investment in the stock market.
I plan to open my account only once or twice a month because I know that I will be affected when I see my stocks going down. So to save myself from worry, I will only access the page when necessary.
Apart from it, I will be saving up for next month so I can buy another stock. It’s advisable to buy 5 to 6 stocks for diversification.
That’s it, guys! I am now a proud stock investor! I hope you do the same. I will give an update about my stocks again after 2 months to see how it is doing. So, keep posted.
You can also read How To Open a FAMI Mutual Fund Abroad.
Have you invested in the stock market?
How was your first buying experience like?