It's amazing and scary ...I invest in management, finance or accounting, the well of their own money they will pay $ 100,000 401 (k) and IRAs, including that they will rely in retirement, have managed to find people with no training. .. It is completely crazy, risking their hard earned money without taking proper precautions so much!
real nuggets).
Also, here are some handy tips to help you invest you are successful with plans to build on your own.
Venture capital
Only invest money you can afford to lose. It's your 401 (k), IRA, and does not include the bulk of their savings. If investing is a hobby, but anywhere between $ 500 and not more than $ 5,000 to begin with (unless you already have millions in the bank). Indulge your passion, but only on the portfolio to the point of victory. Beginner's luck to run across the bank and bet if you hurry. Managing your own money at least 3 years prior to give your initial investment.
Written Plan
As a business investment, think of your $ 500 or $ 5,000.The first plan to keep it, what will be its cost (newsletter subscription), which is really such a bad idea if you can not find a good one as input, how much you without sinking ship (remember a business, do not lose all your working capital is expected to survive if it can not afford to lose over the long run), and so on.
Track your investments
Well, the IRS wants you ... Unless you are playing with fire and your own IRA and 401 (k) management. Trade date, with a simple spreadsheet, the number of shares, buying and selling prices, commissions, profit (loss), the original investment thesis, and develop reasons for selling. It is very easy once your in the beginning. Then it's worked weekly, monthly or his ideas, which did not, and how far away you (as you inevitably will be) used to look at the review. Your investment over time to develop a tracker helps the stomach.
Focus on what works
Shares of stock to bounce a lot of people, and especially the abandonment of their losers. Your turn into real winners are losers as well as excellent buying opportunities dips if your initial investment thesis is well developed. In addition, monitor your investments will tell you what works best for you, then focus on what works ... It is a very simple idea.
Sleep well
Daily news bites or you do not get your portfolio. Your investments daily or weekly, but not to track minute to minute. Diversify your portfolio and include a stop loss% loss on your entire portfolio is small enough that you do not lose your peace of mind. How much sleep I get stressed and when they actively manage their own money on lost'm amazed. Lose sleep over investment just is not worth it!
Accept responsibility
Good investors do not affect the personality. Good to investors to protect your portfolio to manage the worst of times. They listen to all investment ideas, but do your own research before pulling the trigger. And their investment activities, in particular taking full responsibility for their losses.
View ... As I said above is really just common sense, but we all know the saying ...
Good luck!
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