I read this and thought I should mention my mistakes too.
I was introduced to investing in 2010 by my eldest sister. I opened an investment account in 2010 May with Sharekhan and still hold the account. My investment journey started with direct stock investments mostly short term trades in 2010-2012, active regular mutual fund investments from 2012- 2014, 2014 to 2017 direct stocks, 2017 to 2018 dynamic mutual funds, Aug 2018 to Aug 2020 direct passive mutual funds, 2020 till now direct stocks and PMS.
Mistake1: Bought stocks based on investing tips from ET newspapers. I bought penny stocks, the stock that has fallen by 50% a falling knife, a stock that has only sellers. I did not know the brokerage and tax implications while investing.
Mistake2: Bought Standard charted bank stocks because I worked for the company.
Mistake3: Sold regular mutual fund investments early because they have some gains.
Mistake4: Started sip of stocks for few months and quit that strategy.
Mistake5: Bought stocks because they were published in outlook money and wealth insight.
Mistake6: Bought debt fund without knowing that I can lose money in debt fund.
Mistake7: Bought low-quality mutual funds based on past performance.
Mistake8: Concentrated my investment in a single dynamic fund where the constituent debt fund lost 8 lakh in a single month.
Mistake9: After starting index investing in Aug 2018 sold them in Aug 2020.
Mistake10: Even though the education goal was 9 years away I have sold index funds.
Mistake11: Bought stocks because mutual funds bought them.
Mistake12: Quickly change my investment methodology on a whim. Selling all my investments in one go-to-get clean slate.
Mistake13: Having no plan but randomly investing.
Mistake14: No knowledge and plan in early years of career.
