Diversification or indexing?

So with the universe boasting 5000+ entries I’m very near 1% (meaning I’m close to owning 50+ different stocks) which is about 1/10 of my final goal.

Although not equally weighted I have recently started paying more attention to markets etc and specific industries (not quite indexing component parts). I am planning to have this inform my decision making in future.

This idea came about from sustaining very, very very heavy losses in the past three months (for reasons I won’t go into here) and having a long hard think of how to avoid same in future.

Wondering how other freetraders go about building their portfolios?! Do you have a percentage you are aiming for in terms of industry or exchange? Is this something you are paying attention to? Can you think of any downsides (or upsides etc) that you want to share?

Any thoughts appreciated

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