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Stock Market Tips For Beginners

While the stock market is riddled with uncertainty, certain tried-and-true principles can increase your chances for long-term success.

The first thing any investor must establish their financial goals. This could include saving for retirement, purchasing a home or funding your children's education. This will help them decide on how much money they should invest and what kind of investments best suit their particular situation.

It's also a good idea to prioritize creating an emergency fund and paying off high-interest debt before investing heavily in the market. If you do have funds to put into the market, you should start with small and gradually increase your investment as you gain experience.

Keady explains that one of the most common mistakes beginners make is to try and time the market. Keady says no one knows what the ideal time to invest.

If you're just starting out it's a good idea to concentrate on stocks from companies you know about. As the famous Fidelity Magellan fund www.marketanytime.com/generated-post manager Peter Lynch famously said that you have a higher chance of winning when you bet on companies with a solid history and strong growth prospects, rather than trying to predict the future.

Avoid forums and advertisements that promote stocks that have a high likelihood of success. They are usually part of the pump and dump scam which involves the purchase of buckets of shares of a poorly traded company to drive the price up, then sell their shares for their own gain.



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