Unless youâre a wannabe pro day trader looking for short term gains (believe me this is a whole nother world). Identify industries that you think will prosper over the next 3-5-10 years (again I would agree with Alexâs observations and my portfolio looks similar).
Sit on them whilst keeping an eye out for any alarm bells (sometimes you have to get out if a industry or company has terminal issues).
Some of the stocks will take dips and lose 10/20% but in 2 years time when you look at the chart you will likely be well up overall.
Look back at the 5yr charts of successful stocks, even cryptos. In the early years they have drops⊠if you panic sold then youâd certainly be regretting it now.
I think many new investors fall in to the trap of trying to time the market hoping for quick gains. Thatâs a fine art in itself and is a full time job to do it properly. Iâve had traders explain to me what their day entails and there is so much more to it than just checking out companies and âbuying low/selling highâ.
DYOR etc and best of luck. Just thought add my 2 cents
I hate looking at all the red but it probably is a good thing, so many companies are ridiculously over valued it will be better in the long term if they are judged on the fundamentals rather than pie in the sky future earnings.
A bad time to start investing would have been almost exactly one year ago, when the market dropped by 30% from mid-February to the end of March. The drop weâve seen this week is barely visible on the year-long chart.
An excellent time to start investing would have been the 23rd of March. But you can only see the turning points when looking back, itâs impossible to see them in advance.
