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Who Really Gets Hurt Financially?
However, the story is different forsmall retail traders, Corona pointed out.
A significant correction can set them back considerably, especially if their accounts arent well-balanced or diversified.
Corrections can actually present opportunities to buy quality stocks at a discount.
Many people think that they can avoid market declines by moving in and out of the market.
A mistake many investors make is attempting to time the market.
Attempting to time the market is fools gold,' he said.
That means you are consistently buying into the market whether it has headed up, down or sideways.
In other words, if you have a long term time horizon, this too shall pass.
Remember, time in the market is more important than timing the market, Johnson said.
Dont Panic
In other words, Johnson urged, dont panic.
Investors should not concern themselves withbroad market movesor the crisis de jour.
The whole point of an IPS is to guide you through changing market conditions.
It should not be changed as a result of market fluctuations.
Otherwise, patience and staying the course will generally be good enough.
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