Holicent
VIP Contributor
The three pillars of successful stock trading are patience, diversification, and maintaining composure. The secret to succeeding in the stock market is patience. Prior to acting, you should be aware of what you're doing. If you don't, then you'll be throwing money away by buying and selling stocks at the wrong time.
The second rule is diversification: If one stock doesn't work out, another will. In fact, if you don't have any assets at all, a good place to start is by investing in bonds or CDs (Certificates of Deposit) with your broker. These investments offer higher returns than most stocks do over long periods of time but they pay interest that accrues just like a savings account does.
The third rule is keeping calm when things go wrong. That's easier said than done because emotions can get in the way of making good decisions when things aren't going well! But if we can keep our cool, there's no telling how much better our investments will perform.
The second rule is diversification: If one stock doesn't work out, another will. In fact, if you don't have any assets at all, a good place to start is by investing in bonds or CDs (Certificates of Deposit) with your broker. These investments offer higher returns than most stocks do over long periods of time but they pay interest that accrues just like a savings account does.
The third rule is keeping calm when things go wrong. That's easier said than done because emotions can get in the way of making good decisions when things aren't going well! But if we can keep our cool, there's no telling how much better our investments will perform.