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This is continued from page 1 Learn Warren Buffett Investing Style. Please also read the first page of Learn Warren Buffett Investing Style.
Its Long Term Investment Not Short Term
This is where a lot of traders lose patience. They buy stock with a long term view but after one month when they see a profit of even 5% they exit happily. This is known as change of plan for a short term profit.
After a few days they see the stock has gone up further then they rue their decision to sell at a small profit, so they buy it again only to see the stock going down, then of course they sell it. Time waits for none so over the long term they see they are making no profits either in their derivative trading or stock investing.
The reason is pretty simple when you plan something stick to your plan.
How to choose stocks to invest and how to invest in them and when to exit is written in my course how to invest well and retire with crores. Since its a paid course it cannot be explained here.
Reduce Buying And Selling of Stocks Very Often
Some traders love to keep buying and selling stocks just for fun. These people are doing two mistakes here:
1. They are increasing taxes like STT (service transaction tax), brokerage commissions, and income tax of profits from short term investment in capital gains.
2. They exit some stocks in small profits and sell some in small loss. If they take into account the taxes paid, brokerages paid and profit and loss ultimately they end up making nothing. in fact they may end up losing money.
Please understand that since RBI knows every trade there is no escape from paying taxes. So please keep taxes in mind before making profits.
If I buy a stock for the long term minimum term I keep is one year to save taxes. In between I try not to even see the stock price to control my emotions to sell. Even if I see the stock is giving me good profit I calculate the taxes I need to pay on profits. If still comfortable I see else I don’t even if the stock is giving a good profit.
When you are buying a stock you are buying a part of a business. Give it some time to grow. In other words you do not buy a stock, you bought a part of that business.
Think long to avoid paying huge brokerage commission fees and short-term capital gains taxes.
Ignore short term fluctuations which is natural and enjoy the dividends over time and long term profits without paying any taxes.
Page 1 of Learn Warren Buffett Investing Style.
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Dilip Shaw, Founder
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