There are several resources online as
well as learning-based apps that can be
relied upon, in addition to analysis and
stock-broking apps that simplify your end
to end journey. Teach yourself about money management and use the resources
available to you to build your skills.
First, plan your numbers and figure
out the amount you want to invest in the market.
Know what you own and why you own it. If the
market veers, this will act as your north star, so
that you can evaluate if your reasons behind
making a specific investment still hold.Keep an
unwavering long-range view of your own goals,
regardless of what the market is doing.
Understand the inevitable truth of stock
market ups and downs and focus on
building resilience. If you’re good in the
business, you’re likely to be right six times
out of ten. But, don't expect it to be
nine times.
Never be too invested in your first
estimation of how you want things to be.
Have a plan B, C and D, in place.
Put down your own rules and guidelines
that come into force during challenging times,
so that you don’t have to make any
crucial decisions in the middle of
an emotional thunderstorm.
Once you start learning the ropes,
you can begin your investing journey with
simple instruments such as SIP, mutual funds, and passive index funds. Make every effort
to thoroughly understand the risks and
return metrics. Take advice and get all
the intel you need to make informed decisions.
Be eager to learn from your mistakes.