One of the great things about owning stocks is that you can retrieve stock market updates on a minute-by-minute basis. One of the disadvantages of having this information at your fingertips is that you can become obsessed with the price of your favorite stock (or stocks) and become stressed over what is happening during trading hours. Sometimes, things get a little crazy throughout the trading day, only to settle again at the closing bell.
There are several places to check your stock market updates throughout the day, including many apps that you can download on your phone. As long as you know the ticker symbol of your stocks (and most traders do) you can check at your leisure to see how they’re doing, and how much money you’re ‘potentially’ making (or losing.)
Remember, though, that you haven’t made or lost money unless you’ve actually sold your stock. So seeing fluctuations in the price really shouldn’t be cause for alarm if you plan on holding on to your shares for any length of time. Price fluctuations are normal and as an investor, you should be immune to minor (or even major) price drops from time to time. “Ride the waves” is as true a mantra to investors as it is to surfers.
Along with updates on your stock prices, you can also learn about what’s going on in the economic world. Many sites will have articles and posts on what companies are up to – CEO and management changes, stock offerings, earnings, press releases and other announcements are yours to discover. This can give you great insight on whether to buy, sell or hold the stocks you own, or want to own in the future.
Be careful about receiving up-to-the-minute stock market updates – a seasoned investor knows that prices can fluctuate greatly throughout the day. Every bit of economic news will have an impact on the prices of stocks and other investment vehicles. If you are new to the world of investing, this can be extremely stressful, as you see your virtual dollars dipping below what you’re comfortable with.
If you’re an investor with the goal for long-term profits, then you will need to get used to short-term fluctuations and know that with every dip comes a recovery. A stock that’s held for 10, 15 or 20 years is sure to gain your profits and help fund your golden years. You just need to learn to be patient.
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