All of us have some source of getting stocks to buy but I am going to give you some tips on how you can select your own stocks that you should be buying today?
So let us begin.
Invest in Master List
Every investor should have a master list of stock where he should invest and try to invest only in those stocks. No matter what suggestion you get from your broker or even friends you should not divert yourself in buying from stocks you do not track. I have my own master list of stocks and I invest only in my list of stocks. I keep my list updated often enough as I get suggestions from my brokers as well as from my blog readers and members.
Ways to edit your master list
You cannot have your master list too perfect to keep it unedited for rest of your life and from time to time you may need to (and should) edit your master list of stock. If you want to edit your master list of stock never do that in trading hours. After trading hours you visit the new stocks and see why you should add them to your master list. The main aim of doing these after trading hours is to avoid buying the stock in a hurry.
Do not force yourself
There are 2 types of people who fall into this category.
- People buy stocks because they think they have cash in hand now for a week which they can double investing in stock.
- People sell stock1 because they think stock2 has got some big orders and will make more than stock1 for them.
I have seen many people make these mistakes just too often. If you were into one of the above situation just find a way to move out of it. I have found couple of ways to come out of it.
- I invest in some other good mutual fund for a small period of time after selling my stocks. Not always but often when I think I cannot resist myself into getting into some other crap stock I do this.
- ICICIDirect do not allow buying stock for next couple of days after you sell your stocks till the funds clear in your account which means I cannot invest for next 2 days into any other stock after selling the first one.
Over to you
Do you have your list of stock to share, share them in comments below or if you want to know my views on any stock, share that in comments as well.