The market is rife with uncertainties, certain tried-and true principles can boost your chances to long-term success.

Investors linked here should first define their financial goals. For instance, saving for retirement, purchasing an apartment, or financing the education of your children. This will allow them to decide how much money to put in and what kind of investment is best for their situation.

Making a priority of building an emergency fund or paying off high-interest loans prior to investing in the market is a smart idea. Start small and increase your investment as you learn.

Keady says that one of the most common mistakes made by beginners is to attempt to time the market. « Nobody knows the exact time to invest, » she adds, noting that the best strategy is to commit to an investment over the long term and stay with it, even through the rough patches.

When you’re just beginning out investing, you should be focusing on stocks from companies you already know. Peter Lynch, the legendary Fidelity Magellan Fund manager, once said that you have higher chances of success when you invest in companies that have a solid track record and a strong growth prospect.

Avoid online forums and advertisements that promote stocks that have a high likelihood of success. They are usually part of an alleged pump and dump scheme that involves shady investors buying buckets of shares of a poorly traded company to push the price up, and then dump their shares for their own profit.