Here I am putting in some of my own effort, and some copied from the masters. Remember there are some very holy but useless sounding right advice. If you do not know how to do, LEARN them if you wish to be a good investor:
A. Know yourself before starting to invest:
1. What kind of a person are you? – please speak the truth to yourself. are you confident that you can earn MORE money? did the money come to you easily?
2. The share market is not a good place to find yourself! Normally by the time you find yourself, your capital is gone.
3. Do you listen to everybody? can you make up your mind? Will you get carried away by what a blog says?
B. Work Hard, there is not much room for emotions: However investing is about being emotional about your investments. Wow what a contradiction, right? So knowing how much to take and how much to leave out is very very important in Investing. Welcome.
C. Investing is METHODICAL: will you repeat this EVERY MORNING, when the market opens and when the market shuts? Read this again, then read ‘B’ and realize that Investing is a methodical process done with some emotions, but do not let emotions carry you away!
D. Whatever you have read, whatever qualifications you hold, whatever mock portfolios you made, whatever back testing you did – NOTHING, NOTHING, NOTHING really prepares you for putting your OWN money in the markets.
E. Like John Templeton said, ‘Start with a Prayer. It helps.’
many more to follow…
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