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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Stock market for beginners. Code of conduct to be followed

Stock market for beginners. Code of conduct to be followed

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Asoka Samarakone


Expert
Expert
Stock market for beginners.
Code of conduct to be followed

Don't just invest in something without completely thinking it over.
Don't invest money that you cannot afford to lose
Don’t be influenced by the opinions of others.
Don’t trade other people’s ideas.

Don’t buy all the stock at one time, buy a small amount at first and see what happens. Spread out your buying time over days or weeks. If it goes down a little, buy some more. If it goes down a lot, you may want to get out limiting your losses.
Invest in more than one or two stocks so that lose in one stock can recover from the profit in another one.
Don't ever chase the market - always by weakness and sell into strength
Take responsibility for all your actions – don’t blame the market or world events.
Trade well and for the love of trading, not to trade often and not for the money.
There’s a ton of fish in the sea, so with literally thousands of stocks out there to trade, it’s OK to refuse a few of them.
There will just be some that don’t move the way you may anticipate. Some stocks give clearer signals than others, so why mess with the ones that don’t seem to work for you?

Blaming others and looking for faults will put you increasingly at the mercy of negative factors beyond your control.

Not every trade you make will be a winning trade, so you must make sure that you make more money from your winning trades than you lose with your losing trades.

Never think that taking money from the market is easy.
Don’t try to guess the future – trading is a game of probabilities.
Use your head and stay calm – don’t get excited or depressed.

Don’t count how much money you have made or lost while you are in a trade - focus on trading well.
Do not be emotional about a trade – you will lose some and win some. Know the reason why you entered a trade and stick to those reasons. The less emotional you are the more successful you will be. Stick to your game plan.

The bottom line is you have to PREPARE YOUR SELF to be successful, just like you would do it in other areas of your life in order to achieve success.
You as a trader analyze from your own perspective and learn new perspectives
Always remember that you are the captain of your financial ship, so keep aware and lead it with a steady hand.

Stock market is a Daily Motivator for those people who understand the value of staying positively focused on a day-to-day basis, and who also understand the value of investing in their own personal development

Asoka Samarakone

sriranga

sriranga
Co-Admin
Thanks for posting another valuable post for novices.
Keep it up.
Really appreciate your effort.

http://sharemarket-srilanka.blogspot.co.uk/

Kumar

Kumar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Like this post, but unfortunately educative or motivational posts are not commented or appreciated that much in this forum.
Keep it up.

pathfinder

pathfinder
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Experience talks!!!!
good work keep it up.

bakapandithaya

bakapandithaya
Vice President - Equity Analytics
Vice President - Equity Analytics
what a good article, thnkx 4 sharing

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Indeed this is a very good posting however it is incorrect to assume that such postings are not read and or appreciated simply judging by the number of comments posted by other members.
Lesser the comments it is better as we do not have to crawl down too much after reading a wonderfully written article.
Keep them coming regularly & Thanks. Cool

Trillionaire

Trillionaire
Manager - Equity Analytics
Manager - Equity Analytics
Dear Asoka Samarakone,
I have my own code of conduct which I have developed by my own experience (few) and from what I have read. I actually added some important new points to it from your valuable post. (Yes, I'm a beginner)
Thank you very much for your valuable contribution.
Please keep up the good work!
God bless you!

rjeranimo

rjeranimo
Equity Analytic
Equity Analytic
good post. easy to read, easy to remember. very practical. (some are posting big paragraphs to tell small things). but this is nice. point by point. Superb!!!!!!!!

apollo4891

apollo4891
Stock Trader
Thanks...valuable thoughts...will help a beginner a lot...!
Keep posting good stuff.. Smile

yellow knife


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
its a really good suggestion
Keep it up friend
We really learn and reduce our errors


Thanx

11Stock market for beginners. Code of conduct to be followed Empty Thank you! Thu Nov 24, 2016 2:09 pm

ayesh84

ayesh84
Stock Analytic
Stock Analytic
Thank you very much for this! I think the key is that one should stay calm during the storm. 

I'm going to invest with Asha Phillip stock brokers as a newbie.  jocolor

I have not evaluated the interest rate they charge on the account but at least I will be starting something.  study

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