If you are stressed with the market right now do this.
Don’t look at your account.
Go do something you enjoy and take your mind off of it.
Good decisions are rarely made under pressure.
Take the time to remember your plan.
Time is the most powerful force in the universe.
Nobody controls it. Nobody can stop it.
If you make choices that make time your ally on a daily basis, then nobody can prevent the trajectory of time from benefitting you in the long-run.
Kobe said, 'to get more out of yourself...work harder and stay consistent longer'
To this very day, I research every chance I get...and I do it consistently...for new holdings & current holdings...I stay in trades longer and let my winners run!!
Thanks for everything Kobe!
If you want above average returns you need to gain perspectives that average investors aren’t willing to get because it’s just too hard, too uncomfortable, and takes too much time. Don't be average.
We often sell positions before our strategy tells us to, just because we don't want to lose our paper profits.
When we do that:
- we forget that we can't predict where the market/a stock is headed.
- we trade our PnL instead of trading our strategy. We trade randomly.
Rinse & Repeat Cycle:
- Fear induced the red days
(Fear = mostly Trade War)
-Investors turned to bonds
- Bond yields dropped
- Investors look at stocks again
- New highs are reached
Major milestones for an investor/trader:
1) The first time you put your money on the line
2) The day you accept that you don't know what you're doing
3) The day you breakeven
4) When you become consistently profitable
5) When you start helping others who are at step 1
Accumulating initial capital is difficult. Then compounding it without interruption is more difficult. Preserving the compounded wealth is even more difficult. Don’t fall for anyone who says making money is easy. Except for few, for most of us it would always be difficult.