Tuesday, May 19, 2009

Ten Tips to Succeed in Stock Market

1. Cut your losses. Let your profits run. 
Always remember to stop at 'stop loss' point. 
2. Learn from your losses. 
Make each loss a lesson to enrich your investment experience. 

3. Don't be greedy. 
People always turn their huge profits into losses because of greediness. 

4. Never leverage when in a losing position. 
A lot of people try to leverage when in a losing position. It is not a skilful idea. 

5. Observing. 
Standing aside is a good idea when you cannot judge the changing directions. 

6. New mindset to beat the market. 
Nowadays, making fast money is the new market trend and long term trading is already obsolete. 

7. Discipline and patience is the key to win. 
If unsure of market reversal, don't chase when it is high. 

8. Apply only a few strategies to suit different stocks. 
Using too many strategies will confuse you. 

9. Narrow down your focus. 
Do not focuses on too many stocks at one go. Limit to 6-7 counters. 

10. Find a good mentor. 

A good mentor is the golden key to your investment success.

Source: Dr. Steven Lee (Ph.D)


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