22 Mar 2021
Hi, I am new to investing. Would like some advice.
If you have a great plan, any time is a good time. If you're reckless and make impulsive decisions based on what's "hype", any time would be a bad time.
Some tips that worked for me:
#1 Read. Read all about the company. How their business model works, whether or not they are generating income, what are their prospects, are their service/product in demand, will they withstand the trial of time, do the key figures in the company believe in the value they provide to society, etc.
#2 Never make decisions based off short-term events. Unless you're a trader, never let the short-term market fluctuations influence your decisions. Plan your investing strategy, stick to it, and never let other people's opinion affect your plan. Just because everyone is buying something doesn't mean it's a good stock to hold.
Regardless, almost all of the people I know who invest in stock market wish they started earlier. And as the cliche goes, it's not about timing the market - but time in the market.
Wishing you all the best with your investment journey!
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You may have heard this saying, "The best time to invest was yesterday. The second best time is today."
The market may be high today, it may be low. But in 30 years' time, you won't really remember how high or low it was today.
The point is that investing is for the long term and in the long term, all the volatility of the stock market swinging high and low tends to even out. As long as your portfolio is globally diversified, you're more likely to reap a positive return the longer you stay invested.
Also, if you're new to investing, you might find my IG page helpful. I document things I learnt in a way that it gives you a mental scaffolding on which you can build subsequent understanding. Shouldn't take you 10 minutes to scroll through the posts. 20 minutes if you're a slow reader like me.
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We cannot know good entry points beforehand. Not possible.
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