5. Keep your exit strategy in mind

Having an exit strategy—AKA your plan for when to bail—is an important part of the investing process.

Remember that investing is a journey.

There be will times you’re cruising and times it seems like you’re going nowhere. There will be wrong turns and U-turns—and hopefully stretches with an awesome view.

But all investors should keep in mind, changes in plans are part of the process. There are ramps to get off the road—and many to get back on it, too.

4. Consider setting alerts

You don’t have time to stay on top of your investment 24/7—but you also don't want to miss out on buying or selling when the time’s right for you.

Alerts can help. They let you know about stock movements, economic news, or other things that could affect your trade.

You manage your risk by adjusting your trading orders with instructions for when to buy or sell.

Did you know??

The concept of a stock market exchange in the US started over 400 years ago on the dirt road in lower Manhattan we now call Wall Street. People came together to trade goods. Others made it difficult to trade, so a wall was constructed to keep them out. Hence the name: Wall Street.

Trading used to take place outside, even in bad weather. So traders bought a building they could trade in. And that's how the New York Stock Exchange (NYSE) was founded.

3. Stay informed about your investments

Looking at your investments is kind of like keeping up with your favorite sports team. You might watch their games, keep track of their record, or pay attention when a player gets traded to see how good the team is.

Same goes with investments. You can read about a company to see how it’s doing. That could help you make decisions on whether to buy more shares, sell, or hang onto what you have.

If you ignore your investments, you can’t make any decisions about what to do because you won’t know what’s going on. Mobile apps make it easy to check whenever.

When you’re investing for the long-term, it might not be helpful for you to check in on your accounts too often. The reason is that sometimes the market bounces up and down ... and you don’t want to make a bad investing decision based on your emotions. So a good rule of thumb is to check at least once a year or when your financial situation changes.

2. Evaluate gains and losses

It’s a good idea to have a plan for your investments, like how much you’re hoping to make—how much you’re willing to lose.

Not every investment is going to make money. Try not to let that bum you out.

Look at the bigger picture instead. Maybe you have more winners than losers. If so, your strategy may be working.

There are things in life it’s probably best to ignore or avoid—no, homework isn’t one of them.

Neither is the dentist. (Sorry.) More like gossip, bullies, FOMO, stale doughnuts, etc.

Then there are things it’s best not to ignore or avoid. Your investments are one of those things.

Here are 5 steps to take after you’ve placed your trade.

1. Check in on how your investments are doing

Your investments need your attention from time to time—on a schedule that works for you.

You should be looking for a couple of things. First, if your investment is on track to meet your goals. And of course, how well (or not so well) it’s doing.

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Invest lessons until your next reward!

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