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

Investors should first define their financial goals. For example saving for retirement, buying an apartment, or financing the education of your children. This will help them determine how much money to put in and which type of investments will be best suited to their specific situation.

Prioritizing the building of an emergency fund or repaying high-interest loans prior to investing heavily in the market is also a smart idea. If you do have money to put into the market, start small and gradually increase your investments as you gain more experience.

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

If you’re just beginning, it’s a good idea to invest in companies you are familiar with. As the legendary Fidelity Magellan fund manager Peter Lynch famously said that you have a greater chance of winning if you bet on companies that have a strong history and strong growth prospects rather than trying to predict the future.

It’s also a good idea to stay away from online forums and advertisements promoting certain-thing stocks. In many cases, these are part of a scheme known as a www.marketanytime.com/how-world-marketing-can-benefit-your-investments/ pump and dump where shady investors purchase buckets of shares in a tiny firm to boost prices, then dump their shares to line their pockets.