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Stock market is often portrayed as a place to make easy money. The truth is, investing in stocks requires patience, discipline and a methodical approach. It also requires patience and a long-term horizon for investing.
It’s easy for investors to be lured by the promise of high returns and a quick fix however investing in stocks is a long process with many fluctuations and ups. However, the rewards of investing in the long run can be substantial. To assist you to achieve success, here are a few share market tips for beginners that you should be aware of prior to starting.
Don’t be a jack of All Trades
New investors frequently make the mistake of jumping from one strategy to the next. This could be a costly error, especially for those just starting out. For instance, some beginners try to become a «jack of all trades» by converting from selling and buying short-term investments (options and futures) to investing in US stocks. This approach is risky and costly as it involves many transaction fees and currency conversion fees and exchange rates.
Use a single investment plan instead and focus on the value of a stock in the long run. Avoid overreacting to events that are short-term and paying attention to price fluctuations, and make sure you check in on your stocks at least every quarter (or when you receive quarterly reports). Do not get distracted by the hunt for the next big thing.