Emotions Can Affect Your Decisions
Emotions can lead you to poor decisions and this has always been the case. Some investors rely on their emotions when buying and selling stocks and most of the time, it is not turning out well. We all know that people can be very vulnerable when emotions and feelings are involved. Even in some other things like running a business, too many sentiments lead to bad moves for entrepreneurs. This is why you need to stop getting emotional each time you trade or you invest. You must let the money grow using solid plans, strategies, and statistics. If you don’t know how to stop using your emotions in the stock market, here’s what you need to do.
Catch me in my live training events! (quick plug)
The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the trainings below.
Stock Smarts Cagayan De Oro – July 20 & 21, 2019
Stock Smarts Hong Kong – August 11, 2019
ICON Iloilo – August 17, 2019
Stock Smarts UAE – August 30 – September 3, 2019
Stock Smarts Qatar — October 3 – 6, 2019
Stock Smarts Taiwan – November 2, 2019
Rely On Fundamentals And Technicals
I always encourage people to invest in knowledge first and keep on learning because knowledge is what you should use when you are in doubt in the stock market. When in doubt, do not get too emotional but rather remember what you have learned from your books or mentors. Use real information to make a decision. Rely on fundamentals and technicals when buying or selling your stocks. Look for an indicator to hold or sell your investment. Never use emotions as a reason to dispose of what you have or buy too expensive stocks.
Put Your Money In Stocks With Direction
One way you can avoid thinking too much about your investment is by putting your money in stocks with direction. This is how you will learn how to time the market and how to play the main game. Choose a good company and invest in it. Do not buy stocks below 1 peso because the tendency is that the value stays at 1 peso for a long time and this has no direction at all. Look for value stocks and learn the movement of the market by playing it using fundamentals and technicals. If you have an idea where your stocks are going and you have real information to rely on, you won’t get too much emotional.
Stop Monitoring Your Stocks Everytime
Stop monitoring your stocks frequently! Set a schedule or time when you will open your broker’s account. If you are working full time and you only have a portion of your time available for extra activities, you can do trading or investing at night. Most of the investors do this in order to balance the resources they have. You don’t have to watch every movement of your investment because the more you see it move up or down, the more you will get emotional. The likelihood of you selling your stocks at the wrong time is high when you monitor your stocks every time. Work during the day, then monitor your stocks at night.
