Freedom from Urgency
Assigning priorities to your decision making prowess is what will make you a better investor. Too often when discussing the process of choosing an investment I find it is not the ability enter a trade that causes grief, it is the process of making a educated decision that plagues most investors. We think that buying is more urgent than research. Thus, why I attempt to keep it focused on scanning the market for opportunities, building a watch list from the opportunities spotted and putting them into play based on a specific discipline. This will make your decision making process easier and your follow through more predictable. You will be able to keep track of your progress and know what works or doesn’t work for your personality.
The current uptrend in the market was making investors antsy they may have missed out on a great buying opportunity. When in reality there are buying opportunities created all the time. A strategy for capturing them is the key. If you are short on time don’t build complex investment strategies that demand large amounts of time to implement and manage. If you keep the process simple you can achieve your objectives.
The challenge of when to get in and when to get out can simply be dealt with by using stops. They could be buy stops to make the entry process easy or they could be sell stops to make the exit process less stressful. Learn to deal with your psychology and you will be a better investor.
There is no holy grail to investing. You get out of it exactly what you put into the process. Learning is time consuming, but not taking time to learn is costly financially. If you don’t have the time to learn and invest properly find someone who will work with you in the management process. Notice I didn’t say find someone to do it for you - find someone to help you and educate you to manage your money. Anything less forfeits control and along with the ability to accomplish what you want with your money.
At SectorExchange.com our goal is to teach you how to manage your money, not tell you what to do. Take advantage of the education each day through the Daily Exchange . This 4-7 minute video each day will help you understand how to spot opportunities and how to capitalize on each one you find. KISS - Keep it so Simple - You Can Do It!
Define your strategy and capitalize on the resulting discipline. If you aren’t a member yet, no better time to start the learning process than now! Join SectorExchange.com
