Investing tip #1: Keep some spare cash
It’s a good idea to keep some cash in the event of a stock market downturn.
Market corrections can pull the best of stocks down and if you have spare cash, you can take advantage of this.
Investing tip #2: Price is important, but not everything
Whilst buying at the lowest price gives you the best chance of futures gains, don’t limit your investing
because of this.
If you spot a share recovering in price and it looks good for more, invest. Investing into an upward trend can pay off.
Investing tip #3: Look beyond the current economic climate
Many companies tend to perform better when the economy is doing well. But don’t let what’s going on in the economy put you off investing, focus on the merits of a company.
Great stocks tend to do well regardless of what’s going on in the economy.
Investing tip #4: Focus on core business fundamentals
If a company is recovering from hard times, it may be carrying some baggage from this. But this shouldn’t stop you investing if the company has sound business fundamentals and is managing this ‘baggage’ efficiently.
For instance, if a company has positive cash flow, it’s in a good position to pay off its debts.
Investing tip #5: Be patient
Patience is a virtue that many investors lack.
For example, if you’ve made a lot of money from a particular share, you may be itching to sell it. But as long as you have an exit strategy in place, like a trailing stop loss, you should stay with your investment.
The old stock market adage, let your winners run, holds a lot of merit but is hard to follow.
So there you have it. Five useful tips to help you uncover profitable investments.
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