
Originally Posted by
makie29
I'm more into equities trading. When I started way back in 2010, I lost roughly 40% of my capital. I was "forced" to study and learn what the stock market is all about after losing that much. I regained my losses in just a few months and as of now, I was able to make my money grow by 14 times from the total amount that I invested.
Here are some things that I could share:
[1] Be serious on what you do (especially if it involves money). If you're serious, what you're doing will also take you seriously. It will give you "serious" earnings. If you're investing or doing business, treat it as an investment or a business, not as a hobby. Investments/businesses pay you, hobbies cost you.
[2] Invest on learning. A lot of people start a business or invest and focus on the profit. It makes a lot of sense because profits are mainly the reason why we start a business or we invest into something. However, because of that, we tend to overlook or even ignore other important things such as acquiring the knowledge necessary in order to succeed. There's that huge difference between what's expensive and what is valuable.
[3] Plan. Before doing anything, always plan. Business/investments require money and poor planning normally lead to huge losses. Maybe for some, such loss might mean the end. If you plan, you can anticipate pitfalls and prepare for it. More importantly, it gives you a better direction. Stick to your plan.
[4] Never let your business or investment be the focal point of your life. Keep in mind that you're bigger than your business or investments. Don't let it get the best and most out of you. Keep a balanced life. A balanced life means that you can think clearly and act better. Don't allow yourself to be burned out in your business or investment. I've learned this the hard way. In stock market trading, too much analysis lead to "paralysis". Paralysis means that you can no longer make a good decision because of information overload and getting too burned out. Be serious but balance it well. Have time for your business, have time to enjoy, relax and unwind and have time for other things. Your business/investment is not your life.
Lastly, just enjoy what you're doing. As much as possible, avoid pressures. If you love what you do, it's not work.