1. Prior selecting a broker you should have to do proper online research about broker, through your friends and colleagues. Find a well established brokerage firm for investing in to stock market.
2. Work with the firm’s investment guru /consultant to customize your investments that suit to your risk profile. If you have 15 to 20 years or more to retire, then you may be able to be much more aggressive with your investment approach.If you are very near to retirement age you should adapt defensive approach for investing your capital.
3. Once you have established your good relation with a broker, be sure that you will receive monthly or quarterly statements from them that will give updates on your investment’s performance. If required then you can make adjustments to your portfolio.
4. Decide in advance with your financial consultant an annual or other time period in which you will sit down and discuss together to review your portfolio performance.
5. Review your profile always to see if your risk profile has changed, and make the necessary adjustments in your investments.
6. Be very clear about your investment objective before you invest your money.
7. Make sure which kind of trader you are such as Day Trader, Swing Trader, Short term Investor, Medium term Investor or Long term Investor.
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