Use stop-loss orders to limit potential losses by automatically selling a stock when it reaches a predetermined price.
Periodically rebalance your portfolio to maintain your target asset allocation and risk level.
Overcoming Emotional Biases
Investors often face emotional biases like fear and greed. Recognize and overcome these biases to make rational decisions.
Staying Informed vs. Overtrading
Stay informed about market developments but avoid overtrading, as excessive buying and selling can erode returns.
Learning from Mistakes
Acknowledge and learn from investment mistakes to improve your decision-making over time.
Building an Investment Plan
Developing a Personalized Strategy
Create a personalized investment plan that aligns with your goals, risk tolerance, and time horizon.
Monitoring and Adjusting Your Portfolio
Regularly review and adjust your portfolio to stay on track with your financial objectives.
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