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How not to get fooled in the STOCK MARKET? Well, the stock market, in spite of being a lucrative option, is also a very risky affair.
- You should thoroughly understand the stock market
- You need to not only work hard, but work smart as well.
- You need to gain thorough and first hand experience
- You should have a sense of total dedication to operate in the stock market
You should thoroughly understand the stock market
This may be the hardest part. The stock market is not a playground for laymen, unless they intend to lose their money. So, a thorough knowledge of the stock market is an absolute must to avoid getting fooled in the stock market. Try whatever means of knowledge that you can possibly lay your hands on -Get yourself books on the stock market, browse websites, or simply get hooked up on some good business channel on the television. You will need to very much research the stock market and come up with a table of stock items with their prices. Under no circumstances, mind street gossip. These gossips are half-truths, deliberate fabrications or from top to bottom archaic ’verities’. By no means rely on them. Always stay connected with the stock market. You also need to have some idea about the online share market where you can buy or sell all stocks online.
You need to not only work hard, but work smart as well
Work hard – get whatever you can let your hands on to avoid looking like a fool in the stock market. Whether the market is declining or climbing, there will be a few companies whose stock values remain stable. Buying such stocks will bring in profits even when the market is going down. Try dealing in Exchange Traded Funds. An Exchange Traded Funds is a number of stocks grouped together by their themes and traded as a single stock. Exchange Traded Funds normally pay well if vigilantly handled. Look out for an automatic money manager system. This type of system is virtually fool-proof and there is no reserve for human error.
You need to gain thorough and first hand experience
Every winner in the stock market is a self-made man: remember this; no one is really going to help you. So you will do well to chart your own way to success. Once you have found your way, success will be yours. Do not listen to detractors and, more importantly, have faith in yourself. Also you need to stay calm and composed. Never buy or sell shares in a hurry. Let your shares remain as they are except anything basic is muddled with your trusted company. This way, you save a lot of face, your money and most importantly, your piece of mind!
You should have a sense of total dedication to operate in the stock market
The decision to invest in the stock market is a very serious decision. Once you have made this decision, you are required to keep your eyes peeled at all times; always be vigilant. This will endorse the expansion of your richly deserved money and look after it from incurring losses. You can subscribe to Intra-day SMS stock alerts. Almost all mobile service providers offer this facility. These frequent alerts will keep you informed of the current position of the share market. This is a boon if are constantly on the move and cannot be hooked on to the idiot box or are unable to get online. Keep track of share prices/current market status on the internet. There are numerous websites to cater to this requirement. A simple and effective way to know the current market status and the current value of shares is to use the television. Many channels cater exclusively to the stock market affairs. Never panic and sell when the stock market is dwindling. Stock prices will surely recover over a period of time. You just need to have the patience to wait and observe.
This should answer the question: How not to get fooled in the STOCK MARKET?
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