Learn to avoid these mistakes while investing

Do you know all those quotes about how making mistakes is an unavoidable part of living?

That's not entirely true! There are always some pitfalls one can avoid falling into, and that is something we will review through this article.
Investing is a risky business as it is. Add to that, not knowing the most common errors that can be easily avoided. Let's not set ourselves up for failure and review what can be done to avoid these!
Luck is not your friend here
While being lucky can help you at times, investing solely based on luck or tips that helped you make money because you got lucky is a BAD idea. There is no replacement for thorough research, especially when it comes to investing. And once you finish research, it is important to analyse the findings further and review all this information with a fair amount of scepticism. That's what makes a good investor.
Panic triggers will never help you
What is the first feeling you get when you hear scary, sensationalised news or information about a nosedive in the stock market? Do you jump the gun and enter into a full-blown panic response or do you hold your calm and show patience and consistency with your investments? That is often the difference between being the person who braved the storm to come out stronger on the other side and the person who regrets not holding onto investments that became big. Trust your research and analysis over impulse panic.
Not diversifying
Ever heard of the saying 'Never put all your eggs in one basket'? Well, that's exactly what investing requires of you. Do not ever consider that investing all of your hard-earned money in just one stock or industry will ever be a good idea. Such investments are often prey to market fluctuations, and such a crash can strongly affect your investments, significantly taking you and your money down. That is why it is always recommended to spread out your investments as wide as possible so that if one of them falls, the others can help absorb the losses from the fallen investment/s.
The buried treasure fallacy
Ever heard stories of treasures that you once hid with the idea of re-discovering them ages later? Don't do that with your investments. Investing is not a practice where you can just take action on one day and forget about it entirely. You need to periodically revisit your investments, review their progress, stay updated on market trends and make changes in your strategy based on how your investments are progressing against market conditions is important. Expecting your investments to do miracles in the absence of these exercises is never going to get you the desired results.
The Great Fear
We are sure you are familiar with the concept of Fear Of Missing Out. This fear exists not only for physical and material objects but also for investment options. There might be instances when you come across your friends, family or even general acquaintances claiming and boasting about "sure shot" investments guaranteed to make them rich. In such moments, it is quite tempting to leap into the investment opportunity even at the expense of due diligence. DO NOT DO THAT! Apart from the fact that something good for someone else might not be good for you (based on your investment goals and strategy), abandoning research is a definite way to lose your money in the stock market. Every investment decision should be backed by thorough research and due diligence.
Don't be a HERO
Many consider investing to be a lonely endeavour. Hence, they end up isolating themselves and taking on all the challenges, efforts, risks and celebrations on their own. While your investing journey is unique to you, it does not have to be lonely. You can find like-minded people, join communities that help with sharing information and knowledge on investing and also collaborate with expert investors. The advantage such a support system provides is unparalleled.
Now that you are familiar with the most common mistakes people make in their journey to investing, make sure you set out or continue on yours not making the same. Go forth, and conquer your investment journey!