If you are getting lured to earn big money, then, falling in the lap of the stock market is a good idea. For the best-staying power in the share market, you need guts and patience. There can never be clear and specific tips to stay strong and fast in the share market. However, some golden tips can surely guide you and act as a helping hand.
Are you following the herd?
While investing in the share market, you might be influenced by your acquaintances and some industry experts. However, we advise you not to follow any herd but make your way. However, if you are a tenderfoot with no knowledge of the share market, then taking some guidance from the potential investors can help you a lot.
Some pre-requisites to invest in share market
There is a difference between an “activity” and “right activity.” If you are a beginner, then, make sure you have a saving and trading account, PAN card number, Aadhar card, passport size photos and so on. If you are under some debts, try to get rid of them at the earliest and then, enter the share market.
What are you investing?
Make sure you pen down your investment goals and invest only if you have some additional funds. By doing so, you will seal the market deal with confidence, and the chances of earning profits would increase.
Read stock market books and create your plan
Some interesting and valuable books like The Intelligent Investor by Benjamin Graham, one up on wall street by Peter Lynch, The little book that beats the market by Joel Greenblatt, and more can move the needle for your investment.
Choose the stock-broker wisely
Full-service brokers can guide you with trading, research and advisory facilities. On the other hand, discount brokers can help you in trading. Discount brokers are preferable than full-service brokers because you don’t have to pay a lot of brokerages. Instead of investing your entire fund in one stock try to diversify your portfolio.
Look out for companies having stable performance in the market
There are many blue chip stocks like HDFC, TCS, Larsen and Turbo, Reliance Industries and so on. Due to their stable performance in the market, you can get a lot of knowledge and confidence. Later, you can invest in small or mid-cap companies.