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1) Patience
You& #39;re doing yourself a disservice in investing IF you cannot mentally handle a market dip.
You won& #39;t lose money in the dip if you don& #39;t sell in the dip.
You& #39;re doing yourself a disservice in investing IF you cannot mentally handle a market dip.
You won& #39;t lose money in the dip if you don& #39;t sell in the dip.
2) Stock Picking
If you& #39;re going to invest in single stocks (which I don& #39;t do much of), you should have the HIGHEST conviction.
If you& #39;re not prepared to see that stock drop 30% tomorrow and still feel confident in that company, I would recommend you don& #39;t buy.
If you& #39;re going to invest in single stocks (which I don& #39;t do much of), you should have the HIGHEST conviction.
If you& #39;re not prepared to see that stock drop 30% tomorrow and still feel confident in that company, I would recommend you don& #39;t buy.
3) Diversification
Diversification (index funds, ETFs, Mutual Funds), helps capture the broader market, and reduces your risk of 5% return on a stock pick vs. a 10% overall market average, for example.
For most investors doing it themselves, this is best.
Diversification (index funds, ETFs, Mutual Funds), helps capture the broader market, and reduces your risk of 5% return on a stock pick vs. a 10% overall market average, for example.
For most investors doing it themselves, this is best.
4) Time Horizon
Just 2 of the last 11 decades have averaged a negative S&P 500 return. 2!
If you invest for multiple decades, with a long term mindset, your chances of success go up DRASTICALLY!
Just 2 of the last 11 decades have averaged a negative S&P 500 return. 2!
If you invest for multiple decades, with a long term mindset, your chances of success go up DRASTICALLY!
5) No FOMO
Investment fads will come and go. You& #39;ll almost pick that stock/fund that then goes up 5x, or more.
I sold #GME 3 months before it erupted. And you know what? I& #39;m at peace with it. Emotions will lead to you irrationally making bad changes to your strategy.
Investment fads will come and go. You& #39;ll almost pick that stock/fund that then goes up 5x, or more.
I sold #GME 3 months before it erupted. And you know what? I& #39;m at peace with it. Emotions will lead to you irrationally making bad changes to your strategy.
6) READ & GROW
There is a wealth of information on the market and how to invest.
Invest in yourself. This is a great course to simplify the process of investing! Just $20, affiliate link below
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There is a wealth of information on the market and how to invest.
Invest in yourself. This is a great course to simplify the process of investing! Just $20, affiliate link below
