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Benedict Lau
20 Aug 2020
Student Ambassador 20/21 at Seedly
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Being FOMO is a nono. Just because prices have exploded within a short period of time doesnt mean its a good buy. Make sure to understand the company you are buying into and dont be afraid when it goes red since the market always goes up and down. Do DCA and try to avoid buying too many types of shares as it will be hard to constantly monitor each of them.
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Maisul
17 Aug 2020
Youtuber at Google (Channel : Say Do Invest)
I think the biggest mistake it not to start investing.
I can safely say be 100% on point on your investing decisions are nearly impossible.
Even warren buffet the greatest investor of all makes mistakes.
Before commiting to any investment just make sure you make that decision solely on your research and not based on other recommendation.
Making investing mistakes is normal, you just have to learn from it, move on and be a better investor by learning.
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I personally feel that the biggest mistake one should avoid is having the wrong mentality and mindset. It doesn't matter if you're good at trading or good at finding stocks to invest in. If you have the wrong mentality and mindset, 1 wrong/bad trade can screw you over big time.
I think the most important thing is to invest in companies you understand, that are in your circle of competence. Then, do your research, make sure you know what you are investing in and at what price. Once you buy, don't be so affected by the daily share price movements. Remember, you are investing, not gambling.
When you buy a property, you don't check the property's valuation every single day, every single minute. Similarly, when you invest in businesses, you don't ask the CEO, "Hey, is my 10% stake worth more now as compared to 5 minutes ago?"
Cheers !
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Samantha Ong
17 Aug 2020
Seedly Student Ambassador 2020/21 at Seedly
I think the biggest mistake is not having the knowledge and just following blindly with what others ...
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I think the biggest mistake would be to buy into a security just because your friend or family member is raving about it. While it may be suitable for their portfolio and risk appetitie, it would not be the same for you. I feel that one should always research on anything they buy before deciding to commit to it. Even choosing which robo advisor or fund requires some reading up on!