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Although the market is rife with uncertainty, certain tried-and-true principles can increase your chances to long-term success.

Investors should first define their financial goals. For instance saving for retirement, purchasing an apartment, or financing the education of your children. This will help them determine how much money to invest and what kind of investments are best for their particular situation.

Prioritizing the creation of an emergency fund or repaying high-interest loans prior to putting your money into the market is also a smart idea. Start small and increase the amount you invest over time as you get more experience.

Keady says that one of the biggest mistakes beginners make is to try and time the market. Keady claims that no one can tell when the perfect time is to invest.

When you’re beginning your journey it is best to focus on stocks of companies you are familiar with. As the legendary Fidelity Magellan fund manager Peter Lynch famously said that you stand a better chance of winning when you bet on companies with a proven track record and solid growth prospects than by trying to predict the future.

It’s also a good idea to stay clear of online forums and ads touting certain-thing stocks. In a majority of cases, these are part of a pump-and-dump scheme where unscrupulous people buy shares of a sluggishly traded company to boost the price, only to then sell their shares to fund their own pockets.