Not Every Free Advice is Good for You – Take Trading Decision Wisely
No matter whether the tip comes from your brother, or your neighbor or even your broker, you must never accept it true, unless and until you find the logic behind that tip.
If you have made an investment, then it is important to know the reasons for doing so.
You must be able to do your own research and analysis of any company before you even considers investing your hard-earned money. You cannot just simply rely on a tidbit of information from someone else. This is not taking the easy way out.
Trading is also a type of gambling so you need to be sure with some luck. However, the bottom line is that you need to be an informed investor, which is what you need to be to be successful in the long run.
Everyone uses different methods to pick stocks and fulfill investing goals. In actuality, there are many strategies that help you in becoming a successful trader but no one strategy is essentially better than any other. However, when you find your style, stick to it.
If you flounder between different stock-picking strategies then you will probably experience the worst rather than the best of each.
If you will keep on switching strategies then it will effectively makes you a market timer, and this is definitely territory most investors should avoid.