Develop a clear understanding of your investment goals and objectives, such as retirement planning, creating a rainy day fund, or building wealth. Your investment mandate will drive your decision-making process and investment strategy.
Stock market and investments can be volatile and fluctuate significantly in the short term. It is essential to keep track of the performance of your portfolio regularly and stay tuned to any news related to the companies/industries you're invested in or the stock market in general.
Before investing, research and analyse the various stocks, sectors and industries in which you plan to invest. Understanding the factors affecting the company or the sector's growth potential, management quality, financial health, and future outlook, along with analysing factors such as valuations, market trends, and current regulation, are essential to make informed investment decisions.