My 1st post....and and it’s not about fishing?, but I couldn’t resist.
DIY investing is inherently risky, and as long as your not playing with your retirement funds and your prepared to lose the funds you have allocated to it, the go for it.
I use my TFSA for DIY investments. My retirement funds are safely invested elsewhere in a balanced portfolio of 60% equities (growth) and 40% fixed (bonds etc) .......set it, and forget it, except to rebalance as required to keep the 60/40 mix. No GICS, No Mutual Funds.....and the btw, the Bank is not your friend.
Here’s my personal approach to DIY “investing”, and I used quotations, because I don’t consider it as really investing.....it’s more like playing the market.
Buy good stuff when it’s on sale.
When everyone is buying or selling, consider doing the opposite. Don’t let other people’s emotions drive your decisions i.e. FOMO
When you buy a stock, immediately create a sell order with a “stop limit”, so if your fortune reverses, at least it will sell before your your shirt.....and keep adjusting as it rises in value, but leave some room for ‘noise’.
Many small Gains are better then a few risky bets.
My 2 cents. Ray.