Before you join stock market & start your investing journey, keep these money making as well money saving points in your mind:
1. Work on your mindset. If a 20% drop in stock price scares you, you’re yet not prepared.
2. Build patience & tolerance. Stocks don’t fly immediately once you buy them.
3. You’re investing in business & not stocks. Business needs time to grow. Read point 2 again.
4. Understand how to value stocks. If you don’t know the valuations of the businesses you’re buying, you’ll mostly overpay & end up losing money.
5. Technicals & charts won’t help you in ‘investing’. Businesses are valued on profits not on some candlesticks or chart patterns. Warren buffet never used charts to make investing decisions & yet he is still the world’s richest investor. You are not missing anything if you don’t know how to read charts. I also don’t know & yet managed to survive & thrive in markets in last 15 years.
6. Be careful who you listen to. There are many people who are waiting to dupe innocent investors via quick pump & dump schemes, fake screenshots & stock market courses. Look at the person’s track record. (For that I’ve shared all my recos openly in public forum. It’s easy for you judge my performance via simply going thru my social media).
7. You’re going to get right. You’re going to get wrong. It’s part & parcel of investing. Taking profits & losses personally will affect your mental peace. You’ll do well if you’re right more often than wrong.
Do share this blog with someone who is joining stock market. It’ll help them save & make money & help you accumulate good karma by simply sharing this.
May peace & prosperity be with you!
