Five steps to becoming a ‘Very Smart Investor’

Five steps to becoming a ‘Very Smart Investor’
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Technology has connected everyone with all the things around them. From managing finances to ordering groceries, accessing entertainment, socializing, to networking, all of it is connected and possible at the touch of a button. From smartphones to smart homes, smart TVs, there’s a range of products in the ‘smart’ category. Technological advances have made the world a smarter place. Not only are people familiar with digital know-how, but they are also aware of how to use the available platforms to their benefit. However, the term smart is not seen the same way when it comes to investors. The understanding of a smart investor is a lot different from other smart things.

So who is a smart investor? A smart investor is not someone who know how to make loads of money overnight. Instead, it is somebody who can deploy the available resources to make a consistent investment, have a diversified portfolio and build wealth over a period of time. At the same time, smart investors don’t invest where everyone is investing; instead, they educate themselves about the market and research well before putting their money anywhere. Now, this is how one is a smart investor. But how do you become a very smart investor? Like every other smart thing being connected to technology, you can also leverage technology to become a very smart investor.

  • The first step is to download a stockbroking app on your smartphone. If you are a new investor, you can start your investment journey with a quick account opening on the app and leverage features like a minimal brokerage fee. The benefit of using a mobile app for investment and trading is keeping track of the market on the go.
  • After you have opened the account, you can explore digital solutions like a rule-based investment engine to make your first investment. Rule-based investment engine recommends stocks based on a set of rules, devoid of any human bias. It helps minimize risk and maximize returns.
  • The third step towards becoming a very smart investor is using different 3rd party platforms that would be integrated with broking apps of digital brokers for building diversified portfolios and investing in international markets. The modern investment products enable you to make a low-cost, long term portfolio. It is one of the best ways to invest in equities.
  • Another benefit of using the stockbroking apps is the constant alerts on the market. It can be challenging to keep track of the market with everyday chores, but alerts of significant developments given by the app can help you make informed decisions. If used judiciously, alerts can help you earn profits by keeping you updated.
  • Lastly, the digital brokers also provide investment education platforms. These are more like a comprehensive guide to financial markets. From beginners to investors, anybody can join these platforms and learn their way through the capital market. One can learn about everything from the workings of the market to business fundamentals and trading strategies.   

Become a very smart investor by following these simple steps.