My journey with EasyEquities started in October 2015. I already had a unit trust account with StanLib, which I opened in January 2015. My investing journey was fueled by the books I read, I'm an avid reader, and a bad writer in general.
I read Think & Grow Rich in 2014, but I just read it. In December 2014 I read Rich Dad, Poor Dad. Now it was time to act, I then started investing; unit trusts seemed like a real deal, hence my investment with them.
Do you believe in luck?
By pure chance I literally found a Financial Mail magazine with the monthly issue (I think it was September issue) on the street, it probably fell from a delivery van. What are the odds? The issue covered Purple Group, specifically EasyEquities, and the rest of the PPE businesses. Just like that, I've found something that looked better that the unit trust.
But, I was very low on cash. I was already investing > 10% of my net income with Stanlib.
So, I scrambled a young R 250/month in my already tight budget just to fund the ZAR account.
Rookie mistake
With limited cash, some (bad) research, I had few investment options. I threw my money in penny stocks. No, seriously, I mean if the share is R1, how quick can it be R2 so I can double my money, rinse repeat. I'll be rich in under a year!
Well, they're penny stocks for a reason; and the lowest a stock can go is ZERO. So my money went down the drain. Ouch.
Back to the point of this Blog
Don't despise humble beginnings, just start with the little you have. Build up, get the necessary knowledge of the path you're taking. Over the years I grew my debit order to at least R 1000/month. I now manage a fair account. I'm now armed with better skills, discipline & a strategy that has a quantified edge. Develop your own trading strategy: Trading System (wixsite.com)
Again, start small & build up. Cheers.
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