10 points from Vijay Kedia….
#1. Create income from outside the stock market, don’t be dependent on stock market income for livelihood.
#2. Be informative and read as much as you can.
#3. Invest part of your savings regularly in the market.
#4. Don’t trade & don’t leverage. Trading is 24×7 business.
#5. Don’t invest from borrowed money.
#6. At least give 10 years time for your investment to grow.
#7. Invest only in a company with best management so that you need not worry about your investment.
#8. As long as you are invested in the market. Your investment belongs to market and only when you book profit, your profit belongs to you.
#9. Book profit regularly from the market, don’t stay invested for ever.
#10. Luck plays crucial role, do good karma, it will come back to you. You are doing just mind game, no hard work so you must be lucky to create wealth.
Sell your shares only if….
#1. You have to buy your first house.
#2. When the focus of the management changes or
#3. When valuation is too high to believe, sell it.
Stock market is the place to regret…
When you make money, you regret because you missed further move.
When you loose money, you regret because stock turned up after you sold.
When you buy, you regret because you realize that you bought at higher price.
When you don’t buy, you regret because stock jumped while you were watching.