The U.S Stock Market Has Returned An Average Of Abou Characteristics of Successful Investors

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Characteristics of Successful Investors

“The only question you have to ask yourself is how much are you willing to sacrifice to achieve this success?” – Larry Flynt

Successful investors rely on simple and straightforward procedures to help them track their past, present and potential financial position. Following certain routines and habits are qualities of successful people, not just investors. The ability to exercise self-control and passion at the same time is not something that all people can do. But all successful individuals have the ability to combine both.

Feature #1 Journaling

Most successful investors kept a journal. Buy yourself a cheap school notebook and keep a list of all your professions. Then write short notes about what happened in the market, the outcome of the trade, and your thoughts about it. Although this may seem useless now, it will be useful in the future. If a similar situation arises or you are thinking about reinvesting, you can quickly go back to that particular deal and get all the information you need without having to research again. It is with this daily journal that an investor can learn from past mistakes and record his thoughts in the moment. Trading is equal parts research and your gut feeling. With hindsight, you can gather new wisdom and insight that you may not have had at the time.

Characteristic #2

Don’t overanalyze your stock investments. Especially for long-term investments, daily monitoring is not just unnecessary, it’s a waste of time. Most successful investors review their stock portfolios quarterly and at most monthly. Monitoring your investments on a daily basis can lead to paranoia and fear of the normal ups and downs of the stock market. Investing is a long-term activity and should not be observed on a daily basis.

Characteristic #3

Determine how you define success. For some, success will mean being a millionaire, while others will see success as slowly reaping profits from long-term investments. Warren Buffett, one of the greatest investors in the world, said that he believes that success for yourself is not about losing money. Many financial professionals use annual percentage return as a way to measure success. An average return of 6% on all stock investments is a good sign that you are doing well and making a profit.

Successful investors understand that sometimes they will make the wrong decision and lose money. After all, successful investors are those people who have made more money than they have lost. Many investors and businesses actually put money into their budgets related to failure. Once you accept that you won’t win all the time, you will become less afraid of investing. Less fear means you make decisions based on research, not emotion.

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