Here a some quick and digestible investing tips:
- What do you know about the company? – Invest in companies you understand
- Is it gonna be here 20 years from now?
- Do you use their product?
- What is your risk tolerance
- Do research and due diligence – DO NOT GET INTO THE TRAP OF CONFORMATION BIAS
- Reading investing books – most tell you to stick to index funds – and there’s a reason for that – delayed gratification, slow and steady wins the race – most people trying to make a quick buck that don’t respect the process get burned
- Learn technical analysis basics – whether you believe in it or not at least a basic understanding of technical analysis could be a beneficial skill to learn
- Learn fundamental analysis – I’d recommend a YouTube channel called “Everything Money” – they provide an in depth breakdown of how to look at the fundamentals of a company – they tell you what you need to hear not what you want to hear… which is the opposite of what most investing YouTube channels do
- Enjoy the process
- Set it and forget it
- Take the plunge and do it
- The best investment is always going to be investing in yourself – buy books and audiobooks – get a lifetime worth of advice in a few hours
- As a general rule: ALWAYS DO THE OPPOSITE OF WHAT THE MASSES DO – There’s a reason I’ve never been a trend follower – ask yourself are you in the 80% or the 20%?
- DO NOT GET TOO ATTACHED TO YOUR INVESTMENTS
- As silly as this sounds a lot of people online have these allegiances to stocks or coins
- These companies are run by billionaires that don’t even know you exist
- DO NOT TRY TO TIME THE MARKET