A Journey To Become A Successful Investor
The best investors in the world didn't figure it all out in one day.Studying the financial marketplace,figuring out your personality,this all takes time and a lot of patience to do so.We should not forget to mention the mistakes made along the way.
Successful investing can be a long time journey.This is something you need to prepare yourself for carefully.You must also set your goals in advance on what you are targeting.Furthermore you must look at the time frame and the resources that will be needed.For example,do you wish to retire in 20 years at a certain age.Then you must ask yourself how much capital you will need for this.
The following step will be to establish what works.Go through a few books and join a few trading courses,the internet can also be used as a great resource.When you have your strategy assembled and feel OK with it you have to set your ground rules.There are two ways of analysis available,you can combine them or use one or the other.There is fundamental or technical analysis,it's up to you what you will use when creating your strategy.
It's best to make the decisions needed yourself as you know your situation best.Look at your own personality,what kind of character you have.The best ones at this game are individualists and people with an analytical mindset.
If you find that the learning curve is too big or you simply don't have the time for it you can always invest your capital in an investment fund who have a solid past performance and an experienced management team.Consider an offshore investment as this can also be beneficial tax wise.
You also got to figure out who your friends and enemies are.Your books,the media or an experienced investor can be considered as your best friends.But do remember that you always have to be very careful who you trust as your capital is at stake.Also keep in mind that your enemy number one is your own personality when money is involved.Don't compare your own performance with what your friends might be making,that's using a short term vision while you have to look at it in the long term when investing.
Trading is all about discipline,if you are not then you probably won't make it.Always invest based on your trading strategy that you have outlined before you start.Most of your time will be spend learning about the markets and economy when investing,if you put in enough effort you have a bigger change of making it.Bad investments will occur but they must be accepted,then learn from your mistakes and move on.
The performance you will accumulate will be based on the work you put into this and your targets but make sure you always trade according your outlined strategy and then you will probably be successfully.
Successful investing can be a long time journey.This is something you need to prepare yourself for carefully.You must also set your goals in advance on what you are targeting.Furthermore you must look at the time frame and the resources that will be needed.For example,do you wish to retire in 20 years at a certain age.Then you must ask yourself how much capital you will need for this.
The following step will be to establish what works.Go through a few books and join a few trading courses,the internet can also be used as a great resource.When you have your strategy assembled and feel OK with it you have to set your ground rules.There are two ways of analysis available,you can combine them or use one or the other.There is fundamental or technical analysis,it's up to you what you will use when creating your strategy.
It's best to make the decisions needed yourself as you know your situation best.Look at your own personality,what kind of character you have.The best ones at this game are individualists and people with an analytical mindset.
If you find that the learning curve is too big or you simply don't have the time for it you can always invest your capital in an investment fund who have a solid past performance and an experienced management team.Consider an offshore investment as this can also be beneficial tax wise.
You also got to figure out who your friends and enemies are.Your books,the media or an experienced investor can be considered as your best friends.But do remember that you always have to be very careful who you trust as your capital is at stake.Also keep in mind that your enemy number one is your own personality when money is involved.Don't compare your own performance with what your friends might be making,that's using a short term vision while you have to look at it in the long term when investing.
Trading is all about discipline,if you are not then you probably won't make it.Always invest based on your trading strategy that you have outlined before you start.Most of your time will be spend learning about the markets and economy when investing,if you put in enough effort you have a bigger change of making it.Bad investments will occur but they must be accepted,then learn from your mistakes and move on.
The performance you will accumulate will be based on the work you put into this and your targets but make sure you always trade according your outlined strategy and then you will probably be successfully.
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If investing yourself is not for you then you might go for this Investment Fund This article is available as a unique content article with free reprint rights.
posted by Monty Loree at 2:31 AM
