Do you like min/maxing character stats in your games? If so, you’ll love learning how to get started in stocks. It’s kind of the same idea, except you’re playing with real money and not in-game currency.
Think of it like this:
- Trading is like your quick pickup matches
- Investing is doing a long-play
Both offer opportunities since you can invest in the very same companies producing your favorite games. You’ll also know about the tech powering the industry, giving you even more options to explore.
Interested? Here are our top tips for getting started in stocks as a gamer.
1. Invest What You Can Afford to Lose
You should know that you can lose a lot with any investment.
- Only invest what you’re willing to / can lose
- Only invest what you don’t need immediate access to
Knowing finances can go wherever which way will encourage research. This creates sound financial decisions versus brash, reactionary actions.
2. Create a Hierarchy of Saving and Investing
The best way to save or invest happens with automation. As in, you have consistency with how often you’re setting back money or putting it to work.
Make it like a leveling system if you need to:
- LV 1: Pay all the necessities
- LV 2: Set aside money for emergencies
- LV 3: Put money away for long-term savings
- LV 4: Invest money in sound (ie. retirement) investments
- LV 5: Have some fun and experiment with money
Grind levels with each paycheck and soon you’ll have a net worth.
You won’t spend as much, either, because it takes out funds before having access to it. This is the basic principle of paying yourself first. And, why micro-investing platforms are becoming such great financial tools for beginners.
3. Don’t Let Emotions Dictate Investments
The best stock investors are dead… literally. The second best are those who completely forgot about their portfolios. Why? Because they let their money grow in the market and didn’t trade on emotions.
Emotional investing gets you trading without due diligence. You may spite trade or try to catch the hype. More often, it doesn’t pan out because you enter them at an ill-advised time or exit before they mature.
It goes the same with the companies you choose.
EA gets a lot of hate but if you were to invest in their stock a decade ago then you’d have made almost 4X your investment today. The point being is that you need to approach all this like it’s a boss mechanic.
4. Stick with What You Know (In the Beginning)
Save toward things you want or that add value. And, put money toward companies you know to be in good standing and primed for growth.
There are a few gaming companies you could throw money into:
- Take-Two (TTWO)
- Activision Blizzard (ATVI)
- Nintendo (NTDOY)
- Microsoft (MSFT)
- Sony (SNE)
Plus, you’ve got the tech behind it like Nvidia, AMD, Logitech, and others. Do research into companies you use in gaming and go from there.
- Where/what you’re learning about with investing
- Platforms and brokers used in the investment process
- Companies you’re putting money in and the different sectors
You want a big pool to draw from in case we get another collapse. And, so you’re not riding everything on one or two companies.
Solving the Hardest Puzzle with How to Get Started in Stocks
These tips provide everything you need to get the basics of how to get started in stocks. But, there’s still the challenge of actually doing it. We’re sure you have lots of stuff in your backlog, taking up your time, energy, and resources.
We wanted to make investing simple… and fun.
Lootfeed lets you connect your financial account with your gaming. You’ll begin saving automatically with each intense gaming session. You’re kind of paying yourself to game when you think about it!
Want to read the full details? Check out our FAQs for everything.