>> Monday, December 15, 2008
Its recession most people are free as there is nothing to trade or else salary cut so less on spending, on luxury and comfort and worst case is that they have lost their jobs so nothing to do.
But one should not underestimate these recession times as they can last longer than the good times.
The answer is yes and there is no use of sitting and crying.
There are few things you can do during recession times.
They are –
1. Firstly don’t see Business news channels all the time and also be away from stock tickers (Do not watch stock prices every now and then).
2. Keep your mind running, plan out new ideas. Research on stocks which you think are a value buy and accumulate them. Remember buy when others are selling and sell when others are buying.
3. Don’t sell just buy. Your long awaited bluechip stocks would be available at a dirt cheap rate. For me it is Unitech (BSE) and Suzlon (NSE).
4. Don’t over trade – Some times even some quantity of day trade can get you a huge loss. So be careful and trade when you are confident.
5. Games can help – Play Poker and get some cash or else play some online game on stock markets say for example Money Bhai Investor from MoneyControl.com so in this way you wont forget how you used to trade.
6. Read Books –
7. Save fuel. Rather than using your car or bike use public modes as it is cheap and economical. In fact you are just not saving fuel but you are saving your precious money.
8. At the end be away from loans. If you already have taken loan which is yet to be re paid don’t take a fresh loan again.
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