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Financial IQ Philippines Quick Hit(s):
If you are into stock trading, you may want to read this. :)
Here are my 10 tips:
1. Lightning Fast decision – I have encountered a lot of times where the charts already tell me to buy but i am hesitant because of my fear, then when the time finally comes that I have decided to buy….boooom! it has already broken out….
2.) Be like a robot – Related to my post above, don’t involve feelings in trading….there are a lot of emotions involved in the market so don’t join them.. instead base everything on what you have learned…read the charts.
3.) Add Funds regularly – don’t be contented with what you have right now… continuously add funds to your account whether long term or trading…instead of putting excess money in the bank…put it in stocks.
4.) Trend Analysis- If you really want to earn study charts and its movements…study the history of the company.
5.) Leave at least 20% liquid funds – Don’t exhaust all your liquid cash in your account, be sure to leave around 20% so that when a really good stock goes cheap you can buy a whole lot of it.
6.) Study and create your plan first then tsismis is only second – listening to tsismis is not bad provided that you do your due diligence first, validate it with the charts and validate it with earnings. Then let tsismis just be the icing in the cake and not the other way around.
7.) Don’t be greedy – This is what you commonly hear in the stock market…. but this is true! Have a goal on how much you want to earn, once you have achieved it, sell. Don’t worry if the stocks went up higher, you already earned.
8.) Don’t change your mind too quickly – There are situations where you sell a stock at a certain price but suddenly it went down below your selling price, you will feel the urge to push that cancel button and sell it at a lower price, well… DONT! wait till the end of the day you will never know if it will hit your selling price or will go up even higher
9.) Have 2 accounts – One for trading and one for long term, invest the long term account on stocks in the index and the other account use it for daily trading. No matter what happens don’t sell the ones in your long term account till reversal.
http://www.marvingermo.com/top-10-stock-market-tips-from-one-newbie-investor-to-another/
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