Even though the stock market can be a place of uncertainty, there are some tried-and-true strategies that can help you increase your chances of achieving long-term success.

The first thing an investor must identify their financial goals, such as saving for retirement, buying a home, or funding your children’s education. This will help them decide how much money to put in and which types of investments best suit their particular situation.

The importance of establishing an emergency fund or paying off high-interest loans before investing heavily on the market is a smart idea. If you do have money to put into the market, start small and gradually increase your investment as you gain more experience.

Keady states that one of the most common mistakes made by beginners is to try to time the market. Keady claims that no one can tell when is the best time to invest.

If you’re just beginning your journey, it’s a good idea to invest in companies you know about. As the legendary Fidelity Magellan fund manager Peter Lynch famously pointed out that you have a greater chances of winning by betting on companies that have a solid track record and solid growth prospects than attempting to predict the future.

It’s also a good idea to stay clear of websites and advertisements that promote certain-thing stocks. They are usually part of a pump and dump plan, where shady individuals buy buckets of shares of a thinly-traded company to push the price up, and then sell their shares for their own gain.