If you are in for the stock market for long term I would recommend you to take a look on value investment strategy. I.e. understanding how to value the underlying businesses that you are buying and understanding what things you need to check to find a business that is solid. I love reading some of Warren Buffets quotes regarding this:
https://www.cnbc.com/2020/02/24/warren-b...rform.html
Quote:No matter how much or how little you’re buying, you should be able to get your reasoning down on paper without relying on outside resources, Buffett told Becky Quick on CNBC’s “Squawk Box” on Monday.
“Everybody when they buy a stock should be able to take a yellow pad” and write down exactly why they plan to invest in that particular company, Buffett said.
He also doesn’t think investors should worry about how the stock will perform in the near term. If you want to predict what the stock price is going to do, “you can have a separate piece of paper,” he said. Rather, Buffett recommends focusing on businesses that will hold their value over time. As he told CNBC in 2018, “nobody buys a farm based on whether they think it’s going to rain next year.”
“You’re buying businesses,” Buffett told Quick on Monday. Because people can “make decisions every second with stocks,” as opposed to investing in a physical entity like stores or farms, “they think an investment in stocks is different than an investment in a business. But it isn’t.”
https://www.cnbc.com/2020/02/24/warren-b...rform.html
