How to Invest in Diageo
Set your investment goals. Whether a long-term investor or a day trader, your plan should detail your profit expectation and the stop-loss level at which you will liquidate the trade.
Choose the Broker that best fits your strategy. The Broker will allow you to buy and sell the Stock. This step is vital; if you open an account with a Broker that you end up unsatisfied with, it will be problematic. Although you may open an account with another, it's better to pick the right Broker straight from scratch.
Open a Trading Account with the Broker. Most Brokers will ask you to upload an ID and proof of residence.
Deposit Funds. Funding alternatives range from credit cards to bank transfers and e-wallets. The available options will depend on each platform. Trading Accounts are available in US Dollars (USD), Euros (EUR), Pound Sterling (GBP), Swiss Franc (CHF), and Australian Dollar (AUD) as the base currency. Diageo trades in the London Stock Exchange, so, it's in GBP.
Buy the chosen asset and Apply your Investment Strategy. Once the Broker confirms that your account is funded and ready to trade, it's time to buy the asset and apply your trading strategy.
Review your performance and calibrate the strategy as needed. You can't expect to get it right from the beginning. When investing, especially while you are starting, you will make mistakes. That's a given. Learn from them, improve and twitch your strategy as needed.
However, before you proceed, you must take into account that:
Past performance doesn't mean future returns. You will hear stories about that "Trader that made a fortune". Don't assume an investment will continue to do well in the future simply because it's done well in the past.
Only invest what you can afford to lose. Make sure to keep your bank balance positive. There is no certainty that it will go well.
Don't blindly trust what you read online. People are biased, and even the top financial gurus make mistakes. Learn, investigate and reach your conclusions. Reading financial media will help you take more informed decisions, but do not take it as proven truth.
Stay Calm. Financial market volatility is scary, and it is easier to say than to do, but remember that it is hard to take good decisions while anxious. If you are getting too worried about your investments, then you should invest a smaller amount of money.
If you are browsing the internet looking for an investment platform where to buy Guinness shares, look no further. We have bad news: Guinness isn't listed on the stock exchange. Hence, you cannot acquire shares. While you can't invest directly in Guinness, you can buy Diageo shares, which is the company that owns Guinness.
At the end of this article, we detail how to invest in Diageo.