After long playing with fixed deposits, recurring deposits, post office schemes, and mutual funds, I took the jump in stock market.
Had been standing too long at the fence, so took the plunge.
Just two weeks in and I have made all classic stock market mistakes.
Great start I would say. But hey I am learning from it.
And here are 7 lessons that I have learnt in my short stint so far.
1. One to have a stop loss for all positions.
2. Never trade anything when there is a major tide upward or downward
3. Book your first loss. Don’t wait.
4. Be comfortable with the idea that randomness will always be there
5. Don’t buy in one lot. Stager all purchases.
6. Remember good companies do have bad times and bad stock movement.
7. Skepticism is the key. When in doubt, don’t give the stock benefit of doubt.
One thing that has change in me is that I am more aware of companies in and around me.
And also I have become quite adept in doing the mental percentage calculations! 😉