With over eight years of experience in trading and investing, I bring a wealth of knowledge and expertise to the financial markets.

I’m Greg, a guest writer for Big Money Methods bringing you 3 of the best investing tips I know.

I’ve completed the prestigious Chartered Market Technician (CMT) curriculum, recognized globally as the apex of technical analysis skills.

This designation has made me a sought-after expert for media outlets like Bloomberg and CNBC.

My practical experience is highlighted by my role in managing the Hamline Endowment fund and certifications as an options trader and funded futures trader.

Academically, I was the top student in micro and macroeconomics at Hamline University in 2018.

In other words, I know what I’m doing when it comes to investing.

And these are my 3 top investing tips for 2024.

Don’t Put It All On One Stock.

You see, I have helped thousands of traders over the past half decade. Some are conservative and some are super risky.

An example of conservative is not wanting to lose a single dollar in the stock market.

An example of an aggressive or super risky trader is one who has their entire portfolio in Tesla stock, willing to lose it all, in hopes for 10x or 100x gains.

The main lesson I have learned from helping thousands of students is that when it comes to building a portfolio, diversification is key.

What does this mean? Don’t put all of your eggs in one basket.

I personally have over 60 stocks, etfs, gold, oil, and bonds in my investment portfolio. I am slightly more risk averse than the average investor.

This means I am willing to sacrifice some upside in the markets, for the benefit of a very good chance of stabilizing my equity or value of the portfolio.

If your only stock is Tesla and Tesla stock goes up 1000% in a year, you are a lottery winner.

If Tesla tanks, you just become another number on wall street; account gone and another market victim. Finding this balance is key to investing. I want you to be a Victor, not a Victim.

When you diversify your investment portfolio, you're essentially spreading your money across different types of assets – stocks, bonds, real estate, you name it. 

You can even invest in commodities.

Earlier this year, I made a public youtube video, stating that I am bullish, or forecasting higher prices in oil. I added the United States Oil Fund (USO), an ETF that follows oil prices, to my portfolio.

Fast forward, and USO is now up over 10%. The beauty here? It's not highly correlated with the broad market (SPY), and you've got yourself a nearly risk-free position or investment.

This is because I sold half of my oil position in the burst of high prices, then set a break even stop loss (risk management technique) to guarantee a solid win.

How Much Are You Willing to Lose? Assess Your Risk Tolerance

Investing is like a thrilling roller coaster, but unlike a rollercoaster ride, you should determine how much thrill you're willing to stomach.

That's where assessing your risk tolerance comes into play.

When I meet with clients, I want to understand their risk tolerance ASAP. Are you comfortable with the idea of your portfolio dropping by 50%?

Perhaps 20% feels like the right balance for you, or maybe you'd prefer to play it safe with just a 10% potential loss. It's all about aligning your investment strategy with your comfort level.

Consider your financial goals too. For instance, if you're willing to risk 30% of your portfolio for the year, you’re giving the go for higher risk and potentially higher rewards.

 But always keep your time horizon in mind. Over the long term, the S&P 500, our broad market benchmark, typically averages around 10% a year. 

While nothing is guaranteed in the markets, this historical data can help you make informed decisions.

Why You Should Start NOW: Build Your Empire

Allow me to share a tale that my mentor, Brandon Carter, shared with me when I was just 16 years old. It's the story of the grasshopper and the ant. 

You see, the ant was a hard worker. Worked day and night, during summer and in winter. The ant knew what life was trying to throw at it. The ant was preparing during times of peace, during the summer.

The grasshopper wanted to enjoy life at the moment. It never worked hard and always wanted to party. 

The grasshopper would occasionally visit the ant… “ Why do you work all the time? Don’t you want to enjoy life?”.

The ant didn’t respond. The ant kept working. The ant was focused on preparing for the winter… It knew what could come… The ant knew what it felt like to starve and was relentless in preventing malnourishment again.

 During this time, the grasshopper enjoyed life, eating all of its food and depleting its resources. Eventually, winter came…. 

The grasshopper ran out of food and eventually ran to the ant’s house, starving. It begged the ant for food and because the ant created its nest egg, the ant was able to save the lazy ass grasshopper’s life.

Investing is no different. Build your nest egg. It will save you, a family member, or even a grasshopper friend.

The BMM Takeaway

As long as you start now, you can begin building your empire. This is what my mentor Romulus taught me.

Continue to add to your account, select investments based on your goals, and always have a plan. It's like the ant diligently storing food for the winter, ensuring a secure future.

If you are serious about building a grand empire, you wouldn't procrastinate, right? The same principle applies to investing – start now to build your financial empire!

Investing is a long-term journey, much like constructing a vast kingdom brick by brick. The sooner you begin, the more time your investments have to grow and compound. It's like planting the seeds of your financial future today to reap the bountiful harvest tomorrow.

In 2024, don't wait for the perfect moment or the right opportunity – they might never arrive. Your financial empire is waiting to rise, and it's up to you to lay the foundation today.

Disclaimer: This article is for informational purposes only and should not be taken as financial advice. Always conduct your own research and consult with a financial advisor before making any investment decisions. The views expressed in this article are those of the author(s) and do not necessarily reflect the official policy or position of any other agency, organization, employer, or company.