Even though the stock market is a place of uncertainty there are tried and tested strategies that will help you improve your odds of achieving long-term success.

The first thing any investor must do is define their financial goals, for example, saving for retirement, purchasing an apartment or financing your children’s education. This will assist them in determining the amount to invest in the market and what type of investments are appropriate for their needs.

Prioritizing the creation of an emergency fund or paying off high-interest loans prior to investing in the market is also an excellent option. If you have the funds to invest in the market, start with a small amount and gradually increase your investment as you gain more experience.

One of the biggest mistakes that beginners make is trying to anticipate the market, Keady says. Keady says no one knows what the ideal time to invest.

When you’re first starting out, you should focus on stocks from companies you already know. As the famous Fidelity Magellan fund manager Peter Lynch famously pointed out that you have a greater chances of winning by betting on companies with a proven track record and solid growth prospects rather than trying to predict the future.

Avoid forums and advertisements that promote stocks with a high probability of success. In many cases, they are part of a pump-and-dump scam where unscrupulous people buy buckets of shares in a thinly traded company to boost prices, then dump their shares to make money.

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