Investing
Haven
No Result
View All Result
Wednesday, February 1, 2023
  • Login
  • 2023 Forecasts
  • Stocks
  • Commodities
  • Silver
  • Lithium
  • Crypto
3 premium services >>
Investing
Haven
  • 2023 Forecasts
  • Stocks
  • Commodities
  • Silver
  • Lithium
  • Crypto
No Result
View All Result
InvestingHaven
No Result
View All Result

Bad Habits: Counting Yourself Rich Will Ultimately Make You Poor(er)

by Taki Tsaklanos
December 05, 2021
in Success
0
Tags: investing tipssuccessful investing
successful investing
1.9k
VIEWS
Share on FacebookShare on Twitter

Success when investing in financial markets comes with a few well kept secrets. We did share them in 7 Secrets of Successful Investing. In essence, it’s all about being counterintuitive and doing things differently as how we do/feel/act in day to day life. One specific illustration is a thought that comes up, in a natural way, whenever our portfolio does well. Our human mind starts counting how much more could come from the portfolio or from an individual position. Each and every investor falls in the trap of ‘counting himself rich’ when things go well. It’s a bad habit, as you tend to miss the exit.

Note that this bad habit is not exactly the same as “successful investing secret #6. a positive mindset.”

A positive mindset is about avoiding turning negative when things don’t play out the way the investor desires.

If anything, success in markets is achieved with a positive mindset, no matter how bad it gets. Any loss incurred should motivate, not depress. Only positive investors have a chance to make it into the 1% of outrageously successful investors. Without a positive mindset you will never make it into the 1%.

It is fine to be happy if things go well. However, excitement may come with loss of focus. And focus is about understanding market direction: when is the market or a stock going up, when is it going down, invalidation and rejection scenarios.

It is really easy to lose focus especially when things go well. Financial media is positive, people around you may get positive, social media is all about ‘mooning’.

No matter how good things are, no matter how high prices can rise, no matter how explosive positions can be in your portfolio, never (ever) lose your focus on the opposite direction.

Whenever you find yourself in a situation of counting yourself rich you must consider it in an internal signal. Stop the thought immediately, and replace it by thinking about invalidation and rejection.

In other words, flip the view.

That’s what successful is about: flipping the view, flipping the thought.

Continue reading: more investing tips >>

 

Receive our weekly newsletter.

*We hate spam as you do.

premium service trade alerts   premium service trade alerts   premium service crypto teaser  
WARNING: InvestingHaven.com, our site, is not affiliated and has no connection whatsoever with Invest Haven Group on Invest-Haven.com or Investing-Haven.com. InvestingHaven.com did not have and will never have sales reps. Do not accept financial offers, certainly not by telephone, this is why >>
Taki Tsaklanos

Taki Tsaklanos

Taki has +15 years of experience in global markets. His methodology is unique and effective, yet easy to understand; it is based on chart analysis combined with intermarket / fundamental / sentiment analysis. His work appeared on major financial outlets like FinancialSense, MarketWatch, ... Email: taki.tsaklanos@gmail.com. Twitter: twitter.com/investinghaven

Latest

lithium graphite icon

Lithium & Battery Technology Sector Bouncing Back, Strongly

January 29, 2023
silver miners

Silver Junior Miners Working On A Strong Long Term Base, Huge Upside Potential

January 29, 2023
lithium forecast

Lithium: Buy Or Sell?

January 27, 2023
nasdaq

Nasdaq Touching Its 200 Day Moving Average. Time To Sell Again… Or Buy?

January 26, 2023

Connect with InvestingHaven

Receive top notch forecasts for free.

*We hate spam as you do.

Categories

  • 2023 Forecasts
  • Stocks
  • Commodities
  • Silver
  • Lithium
  • Crypto

Site Navigation

  • RSS Feed
  • About us
  • Mission 2026
  • Sitemap
  • Privacy & Disclaimer
  • Terms of Service
  • InvestingHaven vs. Invest-Haven
  • Contact Us
Investing
Haven

Top notch forecasting with gold price forecast, many stock predictions, cryptocurrency charts. Many investing tips and crypto market analysis.

Copyright © 2023 InvestingHaven

No Result
View All Result
  • Premium Investing Service
  • Premium Trading Service
  • Premium Crypto Service
  • 2023 Forecasts
  • Stock markets
  • Commodities
  • Lithium
  • Silver
  • Crypto
  • Login & MyAccount

Copyright © 2023 InvestingHaven

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

    InvestingHaven.com honours your privacy. Read our Privacy Policy