We are so excited to have you join us as we launch our fourth Global Investment Challenge.
When we started Explorer Hop in 2017, we had no idea that we would go on to teach more than 5000 kids about launching a business or starting up their own investment portfolio. Even now, after seeing thousands of virtual portfolios, I am constantly amazed by how insightful and savvy kids are when it comes to money! I have no doubt that we will see some really amazing investing moves during the next competition.
That being said, I've received many requests from existing students for tips to improve their investment strategy, so I thought I would share my top 5 tips for successful investing.
1) There is no such thing as too much preparation
The financial markets work on information. The more you know, the more informed your decisions become. Consider taking some time to read about current markets and start following a bunch of companies to see how their stocks fluctuate. When you follow stock prices, you put yourself in a position to trade confidently and successfully.
2) Take risks!!
I cannot stress this enough. The Global Investment Challenge is your chance to invest in just about anything you've ever been interested in or curious about. Seize the opportunity and think outside the box! For example, if you've ever wanted to see what happens if you invest in Bitcoin - now is the time to find out!
3) Don't focus on your rank
Seriously, this is not important. Stressing about your rank will either cause you to take more risks than you can handle or none at all — both of which limit your chance to learn and build a successful portfolio. Trust me when I say that over the course of 3 months, all competitors experience ups and downs. There's no need to fret about it. Rather than focusing on your rank, focus more on WHY your investments are moving up and down. That's the important part! ;)
4) Share accurate information
Here's a secret about successful investing: your success will not be affected by sharing information. In fact, your chances of being successful improve if everyone shares information because there are more opportunities to learn. Investing is about getting information and understanding how to use it.
5) Have fun
At the end of the day, the competition is just a game. Have fun and enjoy it.