Mindset

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A strong mentality and appropriate distance will protect you many times

A strong mentality and appropriate distance will protect you many times You have to work on your mental strength with the same dedication and engagement as you are working your financial education, asset selection, strategy definition etc. Majority of investors failed not because of bad choices or lack of knowledge, but because of weak mental resilience.

Be investor not a speculator

Invest in good stocks, with ideas and real product
Look on customer value of your choices
Select stocks of companies in with you would like to work
Invest in companies with products you are willing to buy for your children, friends and family

Zoom out

Focus on a trend, not on a noise
Step up to bigger intervals (hours -> days -> weeks -> months -> years)
Helicopter view will tell you more about where you are right now
Look back and you will notice that it wasn’t the first drop, crisis, ATH etc

Be ready for roller coaster

There will be many upside & downside
It will fear you often
But after few runs you will use to it and will start to think clearly during next run(s)
When new joiners will panic you will fell joy and excitement
At the end, there is a safe station

Be prepared for different scenarios

Market goes up
Market goes down
Market goes sideways
Stock(s) reaches ATH
Stock(s) drops 50%
Everything can happen and you have to be ready especially for bad scenarios
Ask your friends, mentors etc to challenge your strategies
be open for different perspectives

Be patient

Be like a fisherman, wait patiently and calmly for your prey
Best gains you can achieve during bad weather
There is enough for everybody, believe it!
Wait for your turn, it will come soon

Investment is a long run

It’s not a sprint when you trying to bypass your opponent(s)
It’s a marathon and mental journey, where you have to fight with your fears and limitations consistently
You have to build your own strategy which will fit best of your current stand point, your own predisposition
You have to test it often and adjust always when it hasn’t met your expectation or you got new knowledge

"You cannot control what happens to you, but you can control your attitude toward what happens to you, and in that, you will be mastering change rather than allowing it to master you."

Brian Tracy