Profound research, well-written books, seasoned trading skills and all other investment supportive material in the world can get side-lined if you as an investor do not possess the right attitude and mental stability while trading as well as otherwise. If you read about the world’s most successful traders, they have some common psychological traits that lay the foundation of their outstanding trading record.
These traits are known to alter the psyche, decision-making, analytical power which play a decent role while making investment-related choices. Here are 4 characteristics of successful investors;
Have you read or heard about the book ‘Secret’? you must have. if not, visit https://www.thesecret.tv/ Every successful trader who is strong mentally possess the power to visualize himself/herself on the winning side of. As they say, you become what you believe or ask for. A temporary jerk in the mainstream does not reflect in their behavior and attitude.
Being optimistic while you do the trade or make investments in a market that shows dual behavior is very important. Successful trading does not work on impulse, it needs an optimistic and stable mindset to come over the bear market and stay anchored during a bullish one.
- Self-belief and self-worth
Every morning when you read your daily dose of news, you come across several opinions passively. Be it the voice of the editor who has put his thoughts in words or the expert who has been asked to review a particular stock/fund/asset, they are all opinion which affects your though-process. It is crucial to have a strong sense of self-belief. A moment of doubt may lead to bad financial decisions and negativity.
Self-belief is a by-product of confidence which does not come overnight. You have to have your own good share of downfalls in order to rise. Take baby steps towards your ultimate financial goal, do not rush and most importantly, retrospect. Make this habit of introspection and retrospection a daily thing before you sleep and fix goals for the next day to achieve the next baby step.
The next characteristic on my list is determination. Be it a high-time or a low-time, promise to yourself to stay determined. Do not leave the league mid-way. There is nothing as permanent in the investment industry, Change is the only constant.
Every successful investor who has made fortune did not do it over a short-term, they invested and stayed vested. Patience and determination are what it takes for an entrant to become a legend.
- Urge to learn
Every successful investor is a fast learner. Be it a new analytical skill in the market or lesson from mistakes, the learning happens fast. They encash their experience-good or bad does not matter as far as it teaches something. Success does not come overnight, mistakes happen, miscalculations are done and then there is a lesson waiting at the end.
Now it is up to you take it or leave it. Most of us who are not savvy with investment mantras take mistakes atrocious but a seasoned investor knows what it holds within. Keep your mind open to new things which come your way.
Never think you know everything, that would be the dawn of your investment course. Be a lifelong learner and enlighten others.
Keep Learning, start Investing!