Investing: Do your research and come out on top

You're in the markets now, building and managing your portfolio, winning some, losing others, but generally coming out ahead -- if you've taken the time to properly research your investments.

Many advisers will tell you to hold on and watch your investments grow. But you also might want to expand your portfolio using money you've made from some of your investments and there's nothing wrong with that, either.

"Investing is not an all or nothing proposition," says Nancy Woods, an investment adviser with RBC Dominion Securities.

"You don't want to watch them every day, but you want to periodically check them," says Woods.

You're checking to ensure that the company's earnings are still good, that the stock value is at least reasonable and that the company is still being innovative and continues to reinvent itself.

"That's what you're investing in -- you're giving them the ability to produce the next great product or service," says Woods.

If you're in your late 20s and you don't have many financial obligations, you may want to expose yourself to greater risk. However, if you've got a mortgage and kids, you may want to cut back on your risk and find more conservative and safe opportunities to invest in.

And if there comes a time when you can't stomach the ups and downs of the market, Woods suggests it's time to stop doing your own investing and get a professional to do it for you.