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You can fail to make correct decisions all day long and it won’t lose you money.

Making mistakes is what loses you money.

This may seem like a trivial difference, but it is an important one.

It means that if you want to make money, or not lose money, you simply need to avoid making mistakes.

Here are 21 common mistakes most investors make. Be aware of them so you can avoid them.

There is no such thing as a sure thing in the stock market. Cut every loss at a maximum of 8%.

When the price of a stock drops it may seem like a bargain, but there is a good chance it will keep dropping.

This is similar to buying on the way down. Don’t throw good money at a bad stock.

If you don’t learn how to read the charts then you will not know the best time to buy.

Learning to read charts is not difficult and it gives you a massive advantage.

Not knowing the fundamental criteria of a good stock is like throwing darts in the dark.

Follow the CAN SLIM formula to ensure you are picking winners.

Develop specific general market rules that will warn you when the market sentiment as a whole is changing.

You can develop the best buy and sell rules in the world. They won’t mean anything if you don’t follow them.

Many people put a lot of effort into buying at the right time, which is good, but you must also sell at the right time.

Remember to look for high quality companies with good institutional sponsorship.

Many people think it is better to buy lots of low-priced shares as opposed to fewer higher-priced ones.

Don’t make this mistake. The best quality rarely comes at the cheapest price.

Don’t buy on tips from the so-called experts on TV, or tips from anyone for that matter.

Do your research and make your own decisions.

The truth is that dividends and P/E Ratios are simply not that important.

Instead, focus on earnings per share growth.

Better-performing companies typically do not pay dividends.

Take your time to learn how to pick the right stocks.

Rushing your decision will more than likely end in losses as opposed to faster wins.

Most of the best investments will be newer companies you’re not familiar with.

Learn to recognise good versus bad advice, and once you find good advice, follow through on it.

Cut your losses short and give your winners more time to grow.

Your primary aim is to make a net profit. Don’t make decisions based on other relatively insignificant expenses.

Stay away from them. They may seem like fast money, but more often they are fast losses.

When you find a good stock, buy it immediately, and when you see that it is time to sell, sell it immediately.

Placing a limit-order may cause you to miss the opportunity altogether.

Uncertainty occurs when you don’t have a proper plan. Create your buy and sell rules and follow them.

What was good yesterday may not be good tomorrow, and just because you like a brand doesn’t mean their stock price will go up.

Look at all stocks objectively.

Read the next chapter here.

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