Why can't we as investors be right more often?
Publish On 27-08-2008 , 08:40
Everyday seems to be the same as the last at the moment.
No clear direction from the U.S., a very choppy and sloppy market, mixed results from our major blue chip companies and of course a barrage of information coming from all angles.
If it wasn't hard enough already you can factor in oil prices, gold prices, world economy, IRAQ and the list goes on. So who should you listen to and what should you read?
Well the answer is simple really...Yourself.
Predicting With Certainty
No-one can predict with all certainty which way the market is heading and ultimately the market itself will be right in the end. Learn to grasp what is happening in the world around you, and for me, try to avoid reading every article that crosses your desk.
You have enough to worry about already.
Keeping Emotions Under Control
As investors or traders it is imperative that we keep our emotions under control and certainly learn to be patient. We always try to read and predict market movements and usually, with experience, you will learn to do this with more accuracy as time goes by.
But in uncertain times such as these we have to accept some of the results that we are dealt with from day to day.
The Ultimate Test For All Traders
I believe the ultimate test for all of us that wish to become successful at trading is to educate yourself, take the good from the bad and learn from our experiences so we live to fight another day.
Will you be successful?
Well no-one can answer that. This will be determined over the longer term to see how you faired financially and of course emotionally.
Trading by nature does not suit all and I am often asked to sum it all up in one word what makes the end result profitable. My answer is simple and always the same........Persistence!
In the end the resilient will be successful regardless of their own short term results.
| 
