Making mistakes is an inevitable part of the investing process.
To avoid making the mistakes mentioned above, make a well-thought-out, structured strategy of stock market advice and stick to it.
It is recommended to avoid investing without knowledge and take the help of a financial advisor to meet one’s financial goals.
✔️ Investment uncertainty
• Build a diversified portfolio of ETFs
• Make sure you know everything about the company
• Don't scrap long-term investing strategy
✔️ Trading blindly
• Know your financial goals, risk appetite, time
• Always plan and take the help of a financial advisor
• Ensure portfolio is on course to meet those goals
✔️ Trying to predict
• Timing the share market correctly is tedious
• Future is inherently unpredictable
• It does not add a lot of value
✔️ Set Stop Loss
• Limits your losses during unplanned trade
• Reduces capital loss when stocks downslide
• Minimizes the impact of a stock market crash
✔️ Don't put all your eggs in the market
• Diversify portfolio outside the stock market too
• Depend on another source of income
• Wait while the stocks rise again
How would you avoid blunders? Let us know in the comments 💬 below.
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Posted On: 29 Nov 2022 5:00 PM