1. Learn the basics. The very first thing to consider is to know what your are investing. How and when you can benefit out from it. Most of us, when they hear about stock market are afraid – afraid to put in their money and eventually lost all of it. But it’s not always the scenario. There’s a big possibility that your money will grow passively together with the growth of our economy. Who knows you will become a major stock holder of SM, BDO, Jollibee, Ayala Land & other big companies?
2. Gather Information. This is the main purpose of social media nowadays – for us to read. Allocate some time to read blogs, watch youtube videos about stock market investing. Subscribe or follow financial advocate pages. Read articles and asks questions with your friends or maybe in forums. Or maybe join a club that will handhold you in your first few months. Perhaps you can join truly rich club by Bo Sanchez, a step by step guide is given for complete beginner and a monthly stock update is provided every month.
3. Decide. This will be your turning point. The earlier you decide, the better. Don’t wait until you become ready but make yourselves ready. They said there are only two exact timing in the stock market – it’s today or 10 years ago.
4. Identify your goal. Why did you join in the stock market? Is it to loose or to grow your money? Of course, 100% we want all our money back plus the profits. Then, make sure you played your part in investing. For long term investors, it doesn’t need to be very good in graph analysis. It only needs some time to research and read the basic of stock investing.
5. Be emotionally firm. Ups and downs in the market should not supposedly affect yourself instead look at the situation for long term, an opportunity for you to gain more. Consistently, fund your account monthly and invest in big & stable companies. Don’t be sad when you see your portfolios in red instead be happy because the stocks are on sale and buy more.
6. Don’t be greedy. Set a target price to sell your stock and be contented when it reach. Some people become greedy at this point hoping that the price will still go higher until they miss it.
7. Don’t hurry to sell. When you see your stocks in red, don’t be afraid and sell it instead buy more and wait for the price to swing back higher.
8. Take time. When your portfolio is starting to grow and become green, it means you are now starting to earn. Take time to earn the profit until your contented with the percentage growth. When you hit your target price, Sell it! Take the money & run. Come back again when the price is low.
Enjoy. Enjoy the privilege of earning big passively.
To your success & Happy Investing!