Retired 14 years. Been investing in stocks since 1973. My first buy ever was IBM. My advise to new investors is to either choose to invest in low cost funds or investment grade dividend growing companies, with preference to the latter. And then stick to your chosen strategy. Get really good at it. Today I keep a list of 80 stocks that I update when a quarterly report is available and constantly look for new ones to add. The list gets pruned when Quarterly Reports are read. I collect 14 pieces of info that I use to calculate a metric for each so I can weight them in a meaningful way. From this list I select 45 that I watch and update daily to calculate and chart RSI, STOC, MACD, Confidence bounds, and my own signals. This is automated via 2 spreadsheets, which I started writing in 1999, that share data. I just have to push the button and the charts are available. From that watch list of 45 I choose 33 to own at any given time. Those 33 are tracked on my portfolio spreadsheet, yea a third workbook, which calculates how many shares to buy or sell each day and if the cost of a trade is less than 0.1% of the value of the trade. You do need to keep your costs in control. So as prices change the portfolio balances according to the weighting I calculate in the master list. (I normally do not make these balancing trades, but the calculation allows me to spot trends and calls attention to a company that requires a further analysis.) It also flags me if a position gets outside the 2% to 5% limits for percent of total funds and for percent of total income.. I work to be diversified across industries and geographies. Currently 20% of my portfolio are non-US companies. My overall 2015 projected Dividend yield is 5.67%, but will change as the year progresses. I withdraw money as needed from the account but do not keep much cash in the account. I try to always be fully invested but there are those times I sit on cash waiting for price or waiting for an option to expire or execute. I sometimes sell puts to enter or re-enter a position. The account is an IRA and is my only savings and major source of income. SS is the other source of income. The most important thing I learned in all these years of trading is that I don't know squat! Make the best plans and strategies you can and expect to be wrong. Quality is where I start to find companies to own. Today I consider myself a Dividend Growth investor and not a trader. My trading days are over and too risky as I am dependent on the income generated from my portfolio. I day traded for the first 3 years of my retirement. That taught me that the moment I notice the trade isn't going as I expected I had to get out. 4 out of 7 trades I entered I got out of quickly. Some would have turned out great, but you can not take that chance. The 3 of 7 I'd let run until the technical indicators signaled that it was time to sell. I doubled my savings in those 3 years, quit day trading and never had the ambition to do it again. It was intense, but did accomplish the goal of providing sufficient capital to build my dividend income portfolio which is funding my retirement.