By Susan Wade
Investments can be a risky venture. They can also yield big returns and great profits for those who know what they’re doing. If you’re considering an investment or two, here are just nine tips for success.
- Jump Right In
While it’s important to do your research before putting any money on the table, it’s equally important that you don’t use it as an excuse to stall. It’s very, very easy to spend your days reading about stocks instead of actually trading them. Don’t let chances slip away while you dally.
- Start Small
Stick with small investments when you’re first starting out, and only invest funds that you can afford to lose. Many beginners like to play around with penny stocks until they become more comfortable with larger and riskier investments.
- Know the Signs of Fraud
High-pressure investments are one of the oldest tricks in the book, yet their pushers succeed in swindling people every day. If someone tries to tell you that you have to buy right now or miss an opportunity forever, go ahead and let the “opportunity” pass you by.
- Stick to Your Niche
If you know nothing about natural minerals, don’t scoop up their stocks just because they’re hot. Experienced investors can eventually develop an eye for good stocks even if they aren’t familiar with the industry, but you’ll need years of real-world experience before such knowledge comes naturally to you.
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- Put Your Eggs in Multiple Baskets
Never stick all of your capital in a single investment. Not only will you lose everything if the stock goes south, but you’ll also miss prime opportunities to experiment with bonds, forex and commodity futures while you’re still new to the market and unbiased in your thinking.
- Say Away from the News
It’s common for first-time investors to glue themselves to their computer screens as they watch the ebbs and tides of the market. Avoid this temptation! Minor fluctuations are normal, and monitoring them every minute is bad for your blood pressure. Force yourself to only check on your investments at certain times of the day.
- Say No to Leveraging
Leveraging can be a big boon to your investments, but it’s also playing with fire when you’re new to the stock market. Do yourself a favor and leave leveraging to the pros. The practice isn’t going anywhere, so you can always try it later once you have more experience under your belt.
- Ask the Experts
If you need help that tutorials and online articles simply can’t provide, reach out to investment professionals like John J Studzinski. They’ll be able to answer your questions, fine-tune your business proposals and assist you in making smarter investment decisions overall.
- Keep Investing
Not every investment will be a winner, but the important thing is that you don’t give up after a loss or two. You never know when the next Apple will come around the corner to make you a millionaire!
These are just a few things to keep in mind as you enter the world of investing. Whether you’re bound for Wall Street or just looking to make a few extra bucks to help with the mortgage, these tips, tricks and techniques should be enough to get you started on the road to wealth.
About the Author
Written by Susan Wade
