You may think making money off the stock market is easy. Just buy low and sell high right? I mean that’s what everyone says so it must be true. And yes, I use this strategy myself as well. But I do not use it as the end all be all golden rule to investing.
When I am looking to make a short-term gain, I buy good stocks that may be in a little bit of a slump. But this is not how I decide where I want to put my money. I will only invest in a stock I am comfortable with holding for a long period of time. I will never, ever, never, invest in a stock that I don’t know anything about. This is stupid and speculative trading that will only make your wallet lighter. If you buy a stock that you are willing to hold on to for more than a few months (or better yet, years) you are taking a step in the right direction.
So, once again, ONLY invest in stocks you are willing to stick with for a LONG period of time. Do NOT invest in stocks you know nothing about. Do NOT invest in a stock you thing is a sure thing. You don’t make money off the stock market by day trading. You make money by making smart, long-term investments.