Tips & Strategies - General

1. Keep most of your money "in the market" as much as possible.  Money in the bank doesn't earn anything!
2. Know exactly what you own - the stock and how many shares and how much they are worth - at ALL times!
3. Know how much cash you have on hand - and which stock you'll sell to raise cash if you need it.
4. Watch for news and trading of stocks - both affect price.
5. Avoid investing in more stocks than you can easily keep track of.
6. Remember the COMMISSION!  Once trading begins, you must pay a commission on every transaction.  This means if you have $100,000, you cannot buy 2,000 shares of a $50 stock.
7. Don't panic the first time one of your stock drops, but ...
8. An underperforming stock not only costs you money, but time - remember there are only so many turns.  Each minute waiting for a stock to turn around is one less minute you could be investing elsewhere.
9. Have an exit strategy - how much are you willing to lose on a stock before selling it?  At what point will you sell a rising stock to bank your profits?
10. Get your rest the night before and don't skip breakfast - you'll need your energy!