1. Only play with the funds that you are willing to lose. Don’t take out a loan to play on an exchange. Don’t fall for the temptations - only play with the amount of money that you are eventually willing to lose.
2. Gather knowledge and information Don’t leave your money to chance. Educate yourself, read a lot, gather knowledge about the functioning of an exchange and how to invest on it.
3. Don’t act in panic or in a hurry. Panic, fear, rush and succumbing to impulses are a good way to lose money when it comes to playing on an exchange. Always stay calm when investing.
4. Be patient. Patience is a quality of many great investors. Wait out the crises, don’t give up after the first losses. Wait and follow your strategy and it’s probable that you will profit.
5. Follow a long-term strategy. Determine your investing strategy before you buy anything on the exchange. The best investing strategies cover a long time and are based on data and analyses rather than just a stroke of luck.
6. Be flexible. Don’t attach yourself too much to your investments. If you see that the situation on the market is changing and you will not be able to profit then rethink your strategy. Sell what you’ve bought without remorse, even at a loss, and choose a new course of action.
7. Set limits. Decide on the limit of your investment funds and never cross that barrier!