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Stock trading apps have become popular in the past couple of years, and it seems like more people, like myself are diving into it. I’m not a professional by any means, but over the past four years of investing, these are some things I wish I would’ve known before, and that I think could help you if you’re just getting started.

The first thing is that you do not need a financial advisor to start investing. I was so nervous that I would make a bad decision that I waited until I could find an advisor. But when I see the stocks I own today I regret not going with my gut 4 years prior because of the significant amount I could’ve made. Looking back, I think I could’ve just invested in an index fund instead of the financial advisor that I got.

Investing in an Index fund almost always beats a financial advisor, and, since it’s a bundle it really makes you get exposed to different companies.

Another thing I wish I would’ve known is that not all apps are reliable. I definitely have my favorite app at the moment but something that really upset me during the quarantine times was when Gamestop and AMC were blowing up and a certain app didn’t allow me to buy or sell when I wanted to.

Next on the list is, how gain taxes work.

I had no idea that you pay more in taxes if you hold a stock for less than a year, make money out of it, and then sell it. If you hold a stock for less than a year you’re going to be paying up to 37%, but of course, it all depends on how much you make. However, hold it for a year, and you will be paying 17% less.

And that is why I’m not a big fan of swing trading, because even though you can make some money out of it, personally I think the long-term run is much more safe and cheaper.

This next one is more of a hack. I wish I had known that you can actually see what millionaires invest in: how much they sold, how much they’ve gained. So, basically, any person that makes over 100k has to file a FORM 13F and you can find it online for free. It has a bit of a delay but it definitely is a great research tool.

And lastly, this one is something that applies to most things in life…

“If everyone is talking about it, you’re probably too late to the game” By the time people know about it it’s probably hyped up and the stock is already extremely expensive. Instead of investing in Tesla, because everyone does it, put your money into companies you believe in.

Remember that nobody knows for sure what is going to happen with the market…oh, and before I go… don’t get investing advice from traditional media…YouTube and Forums are quicker, smarter and more expert-sy.

And don’t invest what you’re not okay with losing. That’s all for now… adiós!

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