Here are top 3 Must Haves For Smart Investors

A lot of people who do not invest, misunderstand investment. They think that it is akin to gambling, but quite frankly, it takes reasonably good control over the mind to make money. Remember, to make money, you don’t have to be necessarily a genius. Just common sense with the ability to interpret number and graphs should do the trick. While everything that you do should be backed with a sound investment advice, these are three things that you must choose very wisely.

Books on investment: Just like everything else, investing is a skill. If you invest, then you know by now that your decisions are based on a lot of factors and not just market sentiments. So make sure that you read the top most guys of the trait and keep yourself current with all the information that you need about the stock market. Even if you don’t invest the money, just keep the tab on the scripts, watch key ratios and see what works the best for you. Over a period of time, you would get a better sense of investing.

A good broker: Having a good and reliable broker is important to get through anything. A good broker not only handles investments for you but understands needs and tells you the current happening. Nowadays, it isn’t that important to get the good broker as everyone can just do things on the fingertips, yet there are times when you might need a friendly and a low-cost broker who can help you with good advice in troubled time. You can talk to your friends, read reviews and do a little research before basing your decision

Mobile apps: Almost any investor would have a smartphone. If not then even a computer would do, but smartphones give you easy and quick access to the information. With smartphones and apps, you don’t need to wait for your computer to turn on and then go to the website and do all that stuff. You can just simply go ahead and pull up things on smartphone, clear alerts and do many other things. If you are a smartphone user then you can choose among a wide range of mobile apps like IIFL Markets, Moneycontrol, Sharekhan etc. Out of these, the first two are very comparable in user experience etc. However, IIFL takes the lead as it also allows users to trade through the app – all in a very neat ecosystem. The app is available for free download on both apple and iOS platforms.

Besides this, you should have tremendous control yourself, ability to take a rational view of things and the will to stop yourself whenever you see something tempting. All this would go a long way in making you a successful investor.

Using technology is indispensable to success, and you must take considerable efforts that you do not neglect the power it holds to change your life.