Anonymous
Hi Seedly community, I am a new investor, I have tried trading on forex throughout my NS years. I am trying to start investing as I want to obtain financial freedom during retirement
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Most important thing is to not listen to "tips" or advice and buy into them. Nobody cares more about your money than yourself.
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Being gullible and believe the Optimistic growth prospects of companies presented by their management.
Most listed company like to spin cock and bull stories to glorify their growth, but history has shown many have fallen short of their words. So whenever a company says it is diversifying into a new industry and expect to grow earnings by XX%, be very scared. Most of the time its diworsification
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Bjorn Ng
07 Dec 2019
Business Analyst at 10x Capital
Don't follow just because you see a track record. I've made this mistake - this group was hitting their TA on stocks, so I decided to follow for 2, and those 2 went in the opposite direction. It would just be a gamble, and you will be affected by it emotionally because it's your hard earned money.
Do your own due diligence, build your conviction, and only invest in something when you yourself believe in it! And also, if something sounds too good to be true, it probably is not good at all. (eg 20% monthly returns from some Malaysia durian farm)
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Elijah Lee
07 Dec 2019
Senior Financial Services Manager at Phillip Securities (Jurong East)
Hi anon,
Some pointers to guide you
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One advice is that if something is too good to be true, it probably is. I always keep this as a reminder to do my own due diligence and research before investing, and avoid getting greedy due to attractive / extravagant returns (especially common from Facebook ads). At the end of the day, only invest in something you are familiar and comfortable with.