It is historically proven that individuals spend more time planning their vacation than they do in planning their investments.
Thus, it is completely normal that we get caught up or distracted in our daily obligations and activities, to the extent that on most days our lives run in cycles whether it be day by day, month by month and so on, leaving little time for investment decision making.
However, in order to change our direction we need to reflect and think about our current position, i.e. where we stand, where we are going or where we want to be in some period.
They way you do anything is the way you do everything. -Whitney Cummings
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Some common behaviors and practices by top performing individuals in any discipline, field or area of success often include meditation, journaling, self-reflection, and solitude. If we just run through life or by extension investing opportunities then we may sometimes miss obvious things around us.
On a personal note, interestingly enough my best trading ideas came when I was underwater, or meditating, or just not thinking about trading at all. Actually, far away from computer screens and trading platforms. There are three levels of self-consciousness in trading or investing:
- The way your investment or strategy is running
- How you can influence your strategy or investment and how that can change the outcome of the strategy
- How you look at yourself when you invest or trade
Taken as a whole, these three things can instigate profound repercussions on your trading performance, as well as yielding a large impact on the financial results of your investment.
To clarify, there are ultimately three key points that you need to know:
- Programming yourself for success: It is important to make sure you have the right strategy and as a trader you make constant and planned results, whereby limiting your risk to base on your personal fit.
- What is my money doing for me? Be aware that a good strategy can make you much higher levels of profit with the same amount of money than traditional investment funds, i.e. banking products and bonds. However, you can end up profiting with $100,000 just as your neighbor can with $600,000 invested with even less risk in some cases.
- If you take time to reflect and change your perception, you can make your money work harder for you than you work for your money.
ABOUT THE AUTHOR: Ismar Zembo is a trader – strategy developer.