I got started with the original Bux app, the CFD one, waaaaaaaaay back when I saw an add on Discovery Channel 6-7 years ago.
Back then I put in something like 50EUR or something and had various small positions of 5-10 EUR, with small gains you would break even as you had to pay commission but on such a small position those would even out.
What I learned fairly quickly was that, even with small positions, trying to guess the short term direction of the market reliably is pretty much impossible. This means I lost most of the money I put in at the start but this also meant that I started to build up a tolerance to market drops etc. Which has helped me a lot later on to not become a panic seller when the market dropped massively the last 2 times (COVID and the drop around January the year prior). When the market dropped, I was actually buying good companies at a huge discount.
Because of the Bux CFD app I also learned that short term trading was probably not the best strategy to go about actually building up “wealth” so to speak, so I started looking into a more reliable way to actually invest rather then trade. This meant leaving Bux CFD behind and switching to an actual broker to do the investing, back then Bux 0 was not around yet.
On a sidenote, I was in a position to actually buy shares in Bux back when they did a crowdfunding round and I didn’t, still think that was a big mistake and would love to do that one over.
Anyway, I opened an account with another broker and started to buy actual stocks, not CFD’s, for companies with doing very little research into the actual companies. I just bought small positions in companies I liked.
Obviously, without research, this is more akin to gambling then investing and at the beginning this meant that I was not making much at all on the positions I owned. I did receive dividends but the price of some of the shares also went down which offset these gains.
So I started to actually look around for websites and on youtube for analysis on companies so I could be more informed when buying their shares. The best resource I have been able to find so far, outside Youtube, is SeekingAlpha.com, I honestly advise anyone to check out that website. Just build a shadow portfolio of companies you are interested in (you don’t need to buy the stocks) and you receive articles by professionals and amateurs on your companies.
By reading a lot of articles and watching videos on company analysis (value investing style, not trading style and candlesticks) I was able to learn an absolute ton about investing and what to look for.
Building up a portfolio of quality companies that pay reliable dividend while also having (some) capital appreciation in the process makes investing a lot more fun, because every month you get a growing stream of dividends which is a huge motivator.
Back when the COVID crisis hit, my portfolio took a ~30% hit yet I did not feel the slightest urge to sell any of the stocks I owned.
I simply bought more of the quality companies I wanted to own on a 30-80% discount because the price of the companies didn’t drop because they were making less profit but because of market sentiment.
At the moment my portfolio is back in the green again by quite a bit yet it has grown substantially and the capital appreciation on the newly added stock is quite large.
And all that time I have received dividend, every month, even though some companies in my portfolio lowered their dividend I didn’t sell them either. When their price dropped, the dividend cut meant that I still had the same effective yield when I bought the lower stock, or even a better yield.
I can say that for me, starting with small investments in CFD’s and getting used to market swings has helped a ton in terms of experience to be more confident investing. HOWEVER if you are serious about investing (and trading for that matter) make sure you do your research because without doing research, you are just gambling.
That would be my advice in a nutshell