Keep negativity at bay
Mindset is very important no matter what you are doing, not to mention investing on shares. Skill, experience and knowledge can be built over time but often people neglect the building on mindset. Other than technical skill, whenever there is unknown or a dip in prices, failure to remain calm will cloud one's judgement and made the wrong decision. On top of dealing with internal unrest, there are always people spreading negativity without the backing of data nor knowledge. A few basic but yet important points are always what I will remind myself with.
1. Remain calm to make the most appropriate decision.
2. Always do risk assessment before entering a trade than in haste. It is alright to miss it than to end up in a big loss.
3. Always have a plan if adverse outcome is encounter, to cut loss fast or ensure there is holding power before making the decision.
4. Do not take negativity too quickly. It is very easy for people to post or spread nonsense irresponsibly but you do not have to take it at face value.
5. Do not be one of those who spread the negativity, what goes around comes around.
2. Always do risk assessment before entering a trade than in haste. It is alright to miss it than to end up in a big loss.
3. Always have a plan if adverse outcome is encounter, to cut loss fast or ensure there is holding power before making the decision.
4. Do not take negativity too quickly. It is very easy for people to post or spread nonsense irresponsibly but you do not have to take it at face value.
5. Do not be one of those who spread the negativity, what goes around comes around.
With these, I also hope to improve on my mindset and gets better and better along the way with my knowledge, experience and technical skill.
Hope this helps anyone who reads it.
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NANA123 : thanks for sharing