The market is rife with uncertainties, certain tried-and true principles can boost your chances for long-term success.

The first thing that any investor should determine their financial goals, such as saving for retirement, purchasing a home or funding your children’s education. This will allow them to decide how much money to invest and which types of investments are best for their situation.

The importance of establishing an emergency fund or paying off high-interest loans before investing heavily on the market is also an excellent idea. Start with a small amount and then increase your investment as you get more experience.

One of the biggest mistakes novices make is trying to anticipate the market, Keady says. Keady believes that no one knows what the ideal time to invest.

If you’re just starting out, it’s a good idea to invest in companies you are familiar with. As the famous Fidelity Magellan fund manager Peter Lynch famously observed that you stand a better chance of winning when you bet on companies with a solid track record and solid growth prospects, rather than trying to predict the future.

Avoid online forums and adverts that www.marketanytime.com/sell-security-papers-via-market/ promote stocks that have a high likelihood of success. In a majority of cases, these are part of a pump-and-dump scheme that involves shady individuals buying buckets of shares in a tiny company to increase the price, only to then sell their shares to fund their own pockets.