When you are a new investor on the financial markets, it’s crucial to avoid a few mistakes that can turn otherwise promising investments into failures.

·      Putting short-term needs above long-term goals in your approach to investing. Investors rarely get rich overnight – the successful ones needed at least a few years of hard work to build a solid portfolio. In the world of investing, the steady and steadfast are more successful than the rash.

·      Becoming addicted to financial media. Financial media is distributed today through many channels, 24/7. While it’s important to stay up to date with what is going on in the financial world so you can manage your investment, excessive interest in financial news brings about anxiety.

·      Letting a bad day influence your whole investment policy. Every financial market has bad days. The difference between successful and unsuccessful investors is that the former have faith in their investments and stick to them, not letting a bad market day daunt them.

·      Investing only in a few markets. All investors know the benefits of having a diversified portfolio, but only a few actually strive to achieve one. Don’t disregard money markets, bonds, London property, gold and silver, and especially alternative investments, like those in wine and contemporary art.

·      Putting your money where all the other investors have already put theirs. To be a successful investor you need to take some risks. Not mindless, but reasonable ones. You need to discover those markets that are not saturated with investors and that have not been milked already. It won’t be easy, but nothing about investing is easy.

In the end keep in mind that one of the hardest things about investing is discovering the most profitable investment options for you. A comprehensive resource like Compare the Financial Markets can help you with that.

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