We have seen a sudden surge in the field of investment after the introduction of Bitcoin and other crypto-currencies. While the whole world is charmed by the exuberant and quick returns, there are still people who struggle to make money out. So, what makes a successful different ?
Following are 5 traits of a successful investor:
#1 Passion About Investing:
This point is true for anything I think. Unless you've the passion or the thrive to invest and make money out, it is next to impossible for you to practice. If you're passionate, you'll look for opportunities which mundane investors tend to overlook. You will love what you're doing and will always be thrilled.
#2 Discipline:
Discipline makes a lot of difference, specially when it comes to a crypto investor.
Sticking to the investments which you strongly believe in, doing good fundamental and technical analysis, managing risk etc are few traits of a good and disciplined investor. It is very easy to get carried away by seeing pumps in various coins, on a long run a disciplined investor wins. Being patient is also one of the key discipline one investor must have.
#3 Emotional Control:
Emotion and sentiment control is something which cannot be taught it can be only practiced.
A successful investor is a one who has good emotional control. His decisions ain't driven by the public sentiment or emotions rather they are technically sound and rational. In crypto world it is very important to keep your nerves into control, thing change in seconds, scenarios change with an heartbeat. One must avoid panic selling, Fear Of Missing Out [FOMO] buying, putting stop losses at his investments etc.
#4 Exit Strategy
Well, this is something which is the most difficult to follow or execute in crypto world.
A good investor always sets targets for his investment depending on the potential of his investment. He is always content with the returns which he targets and never feels jealous of others who are making good returns. As mentioned above, crypto universe is very hard to predict and things change in a heartbeat, putting a good sell target becomes very important in order to capitalize price opportunity.
#5 Learning From Mistakes:
This is probably true for everything.
A successful investor never repeats the same mistake. He learns from it, improvises and comes out strong out of it. He doesn't sit and whine about his losses, rather he does a detailed study of whys and hows of his mistake. Luckily crypto world gives you a lot of opportunities to correct your mistakes ,it is only who who can capitalize on it.
Would you like to be a successful investor ? Pl. share your views in the comment section.
Keep rocking, Keep steeming !
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