I have only 1.5 years of market experience and i'm learning day by day:
1: Biggest mistake, i bought my first stock when it was hitting everyday low and low and accumulating more in loss.
Era infra: first bought 400@40 and keep on adding in down, currently i have 3000@18(Average price).
currently holding it in the hope that atleast i can get atleast theinvested money back, i dont know i'm right or wrong in this case of holding this loss making stock.
I bought this stock without any analysis, just it was on 52 week low so i bought it and then on tv CNBC they were saying to buy so bought more and then to make the average price, i added more.
After this i got one chance to get it out when the stock came back to 33 but with the greed i didnt sell and the result is it is 85% loss now,
still holding, not daring to book the loss.
1: Dont follow tv and media or any recommendation or friend recommendation.
2: dont by 52 week low stocks, just because they are 52 week low
3: if a stock is going down and the fundamental is also not good then dont average your price, sell the stock and book loss and come out of it.
4: Do a thorough analysis, still i'm not able for this but trying to learn.
5: Earlier buying stocks on low pe and high EPS only, dont do it.
6: Dont follow the price fluctuation day by day, do th stock check on weekly basis.
7: dont have more then 10-15 stocks in your portfolio.
8: money allocation to all your stock should be followed..still i'm not doing it and need to learn.
9: have patience: before i was buying and selling frequently , net i'm in loss
10: Better to follow SIP for good stocks.
11: always have some case, when market corrects buy good stocks more and hold.
12: Don't be greedy and don't afraid.
Many mistakes committed and learning is in progress.
Read Good books and learn and learn from all the seniors and from others mistakes.