What are some secrets of making money in stockmarket that successful people know and others don’t?Add Answer
One thing that I have seen profitable traders/
So, if you’re looking to make more money in stock market, you must be ready to take necessary (and often essential) risks. The more risks you take, the more money you can make. Now here’s a thing though. Taking risks just for the sake of it isn’t a right choice. Successful traders/investors don’t mind getting into high-risk, high reward scenario—but they do that only after doing thorough research, doing technical analysis, factoring various aspects of such decisions, and even consulting experts. So, you must take risk only after being sure that such move is beneficial for your portfolio and will unlock bigger rewards in the future.
Another thing—here’s a general rule of the stock market: never invest your money that you cannot afford to lose. Successful people invest/trade big in the risky stock market because they have a lot of money and they can afford such risks. On the other hand, if you’re a new trader/investor, this may not necessarily be the case for you. You might not have sufficient fund to even invest/trade, let alone risking it to lose. In such case, of course, you should avoid getting into anything risky. This also means, first, you must accrue enough fund, have multiple sources of income and have sufficient balance to invest/trade in stock market. Get there and then take (calculative) risks.
All in all, taking risk is the biggest secret of making money in stock market, in my opinion, that successful traders/investors know, and others don’t. There are few (not entirely) secrets that profita