9 Stock Tips for Investment Success:
- As a new investor, be prepared to take some small losses.
- Always cut your losses at 10% below your purchase price.
- Persistence is key when learning to invest. Don’t get discouraged.
- Learning to invest doesn’t happen overnight. It takes time and effort to become successful at it.
- When getting started, it is important that you pick the right full service or discount brokerage. If you use a broker, make sure he or she has a good track record.
- As a beginner, set up a cash account, not a margin account.
- It only takes $500 to get started. Experience is a great teacher.
- Avoid more volatile types of investments, such as futures, options, and foreign stocks.
- Concentrate on a few, high-quality stocks. There’s no need to own twenty or more stocks if you have less than 10,000.00 invested.