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The entire thread summarizes some important rules with respect to investing. Inspired by legendary traders,these will not only help you to grow wealth,but also make a smart investor. Hope you would like the thread & shower some love
Rule 1: Bulls, Bears Make Money, Pigs Get Slaughtered so chose your category wisely
Rule 2: It's OK to Pay the Taxes,Dont just wait for a 10% LTCG always. Sometimes you know it won't pay you
Rule 3: Don't Buy All at Once,Have patience market will give enough opportunities
Rule 4: Buy Damaged Stocks, Not Damaged Companies. Understand the diff b/w undervalued stocks and no value stocks. Everything cheap is not bargain,it could be trap.
Rule 5: Diversify to Control Risk,make sure you don't put everything into one stock,one sector or one asset class.
Rule 6: Do Your Stock Homework. You spend 5 hours to buy a cream on Amazon but research for 1 hr based on buying a stock on twitter! Well,do your homework.
Rule 7: No One Made a Dime by Panicking .Invest 2-10% and leave rest. If it falls,pain will be low,if moves,no FOMO haunt
Rule 8: Buy Best-of-Breed Companies,This doesnt mean you have to invest in the most expensive companies,all it means is you need to buy co.s with good earnings,promoters and sustainability
Rule 9: Defend Some Stocks, Not All
Rule 10: Bad Buys Won't Become Takeovers,STOP hoping