facebookWhat advice would u give to ur younger self with regards to doing investments & trading? What are some things that u wish u alr knew beforehand when u first started ur investing/trading journey? - Seedly

Anonymous

02 Sep 2023

General Investing

What advice would u give to ur younger self with regards to doing investments & trading? What are some things that u wish u alr knew beforehand when u first started ur investing/trading journey?

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Just invest regularly using etf or unit trust. Just buy blue chips stock.

Ngooi Zhi Cheng

Edited 15 Sep 2023

Student Ambassador 2020/21 at Seedly

That's a fantastic question, and it's great to see young investors and traders seeking insights. Here are some pieces of advice I would offer to my younger self:

  1. Start with Education: Before diving into investments or trading, invest time in learning. Understand the fundamentals of the financial markets, various investment vehicles, and trading strategies. Knowledge is your most valuable asset.
  2. Set Clear Goals: Define your financial goals and investment objectives. Are you saving for retirement, a major purchase, or wealth generation? Knowing your goals will help shape your investment strategy.
  3. Diversify Wisely: Diversification is key to managing risk. Don't put all your eggs in one basket. Diversify across different asset classes, such as stocks, bonds, and real estate, to spread risk.
  4. Risk Management: Learn about risk management techniques. Use stop-loss orders when trading, and ensure you have an emergency fund for unexpected expenses. Never invest more than you can afford to lose.
  5. Time in the Market vs. Timing the Market: Trying to time the market perfectly can be challenging. Instead, consider a long-term investment approach. Stay invested and take advantage of the power of compounding.
  6. Avoid Emotional Decisions: Emotions like fear and greed can cloud judgment. Stick to your investment plan and avoid impulsive decisions during market fluctuations.
  7. Costs Matter: Be mindful of fees and charges associated with investments. High fees can eat into your returns over time. Look for low-cost investment options.
  8. Stay Informed: Stay updated on economic news, market trends, and company performance. This knowledge can help you make informed investment decisions.
  9. Seek Professional Advice: Consider consulting a financial advisor or investment professional, especially for complex financial matters. They can provide valuable insights and help tailor a strategy to your goals.
  10. Patience and Discipline: Building wealth through investments takes time. Stay patient and disciplined, and avoid chasing quick gains.

Remember that investing and trading are journeys that involve both successes and setbacks. Learning from your experiences and continuously improving your knowledge and strategies is key to long-term financial success.

Lastly, don't be discouraged by mistakes; they are valuable learning opportunities. Over time, your investment skills and financial confidence will grow.

I am currently a Financial Advisor as well, so feel free to reach out to me on IG (@ngooooied) if you have any further questions!

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Start early and low risk, educate myself more then go higher risk

Invest in good growth companies in the US market.

Never blindly follow the "gurus" and and advisors. Know yourself and find a style that fits you.

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