Dear Liberated Stock Trader, welcome to a new year, and I know you are now getting close to making a purchase, but there are important things to do in this year, before we put our money on the line.
Buying a stock is in some ways similar to buying a car, in the steps one needs to take, or consider. But like everything, people make decisions not based purely on the Numbers, but on Emotions, Psychology, Marketing and the perceived outcome of the purchase.
To be successful at buying a car the benchmark is that it does not fall apart, or get reclaimed by the police as stolen.
To be successful at buying stocks means that overtime you make a healthy profit, beat the market averages and meet your investment goals.
However people make huge mistakes buying stocks because:
- They have not fully clarified their goals.
- They have not done enough research or the right type of research.
- They do not understand how to do basic fundamental research.
- They are not in control of there own emotional experience and prefer to be externally influenced
- Outcome of Purchase : Loosing your retirement fund, loosing money, blaming others.
This section of the liberated stock trader will help you with all of the above.
The following articles will look at
- What Type of investor are you.
- Attitude to risk.
- Setting yourself targets.
- The investment timeframe.
- Psychology – listing to your inner voice.
We will not tell you which car to buy, but we will give you the knowledge so you can make your own informed decisions.
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