2. Trying to Time the Market and Not Diversifying

We all love to time the market and getting away from it is impossible for it is in our blood. Markets across the globe are extremely volatile and are bound to change in a split second. Right now, all markets are riding a roller coaster. So, trying to predict its course is ill-advised. It is best to go for stocks which have a longer shelf life, like – blue-chip stocks (Reliance and ICICI). You can also access Reuters and MoneyControl.Com to Google a company’s financial background. You must also not stick to just one type of financial instrument. Go for a balanced mix of stocks and mutual funds. When in doubt, always seek professional help.