Vacation time is here! And while you plan itineraries and budgets, give a little thought to your investments too before you suddenly take some time off the grid.
Drastic short-term changes are not very common in assets like debt, property, gold, hence, your investments in these classes should be relatively stable while you explore your latest destination. This is also another reason why you should consider adding these investments to your portfolio (if you haven’t already done so).
Even if you have invested in equities, you can continue to enjoy your getaway if you have signed up for auto options like – SIP (Systematic Investment Plans) which help in averaging out any impact of market volatility on your investment; or GTT (Good till trigger) orders which will auto-trigger your order based on a previously set price.
So, here are a few Dos & Don’ts to help you keep your investments healthy while you take a break:
Use special order types
If you have invested for the medium to long term, then you can choose specific order types to protect your positions while you’re away. For instance, you can use GTT orders to lock-in your profit if markets move in your favour, or to help limit your losses if things don’t go as you had hoped for.
Make the most of your limited time online
Vacation time means a lot of sightseeing, fun activities, and family time, – which in turn leaves very little or no time for routine tasks like monitoring your investments. Here are some ideas on how to make the most of your limited time online:
- Pick a daily slot – either before- or after-market hours to scan any major developments that might impact your views about your existing holdings
- If you have a change of perspective due to any such development, then make the necessary changes to all of your auto orders as well so that it syncs with your new views.
- If you would like to add a new position due to such developments, first ensure that you have done your homework about it. Again, it would be wise to use auto orders to trigger a purchase only if certain conditions are met. Explore Smart API from Angel One to learn how you can do this and much more.
Make use of Special facilities & Alerts
Travelling has many joys, however, lack of a reliable internet connection is definitely not one of them! So in case you are struggling with internet connectivity, and you really need to place a trade, you can make use of other special facilities like Angel One’s Call & Trade.
It is expected that you will not be able to constantly monitor your portfolio while on vacation, and hence you can set Price alerts to keep you informed when your stock hits your specified price.
Take the time to reflect
One of the best ways to introduce discipline in investing is to step back and let your automatic orders take over. The time away might also give you a chance to reflect on your investment decisions and financial performance. A little self-reflection without the day-to-day distractions of the market can actually help recharge your batteries so that you return to trading with a refreshed mind.
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Sometimes small points like the ones mentioned above prove to be really helpful. We’ve shared these few ideas with the hope that they will help take care of your investments while you are on vacation. All that’s left to be said now is “Enjoy your Holiday!”
