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1:24 am
October 19, 2016



posts 399

hat sets average and successful investors apart is their psychology or way of
thinking. Although all master investors use very different strategies and
investment tools that may even contradict each other Patrick Kane
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 , they all share the similar psychological makeup that
makes them successful. Here are seven of the most powerful success habits of
successful investors. 1. Buy On Strict Rules & Not Emotions All successful
investors have developed a time-tested and proven system for selecting, buying
and selling investments in a way that makes them money consistently. They always
buy and sell securities based strictly on a set of clearly defined rules or
investment criteria. For example, Warren Buffett will only buy a company if it
has shown consistent earnings growth over five years, has little debt Max
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 , has a high return on equity, has a strong
management team and is selling at a price that is way below the company's
intrinsic value. If a stock does not meet every single criterion, he does not
buy! Successful investors never allow their decisions to be swayed by their
emotions or by the advice of other people. For example, many successful
investors have a rule for selling their investments and cutting their losses
once their investments fall 10%-20% below their purchase price. The moment this
happens Matt Niskanen
USA Jersey
 , they sell without thinking twice. They never let fear,
pride or ego get in the way. On the other hand, most average investors (who keep
losing money) do not have a system for investing. They buy and sell based on the
opinions and advice from their friends or relatives (who are usually broke too).
Their decisions are usually driven by the emotions of fear and greed, instead of
a set of well-defined criteria. 2. Admit Your Mistakes Early. Successful
investors know that no matter how great their investment strategy is Kyle Palmieri
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 , it is never hundred percent accurate. They know that
no matter how smart or experienced they are, they too make mistakes. The
difference between successful investors and average investors is that the former
admit their mistakes early. Once successful investors know they have made a
wrong investment decision (the stock price moves against them), they will sell
and minimize their losses immediately. On the other hand, most average investors
hate to admit that they made a bad decision. They will start giving excuses and
hold on to their bad investments in dissent. As a result Justin
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 , they make huge losses that wipe out any
gains they may have made in the past. As quoted by legendary billionaire
investor George Soros, master investors know that they may be wrong from time to
time. However, if they minimize their losses by admitting their mistakes early,
they will still make huge profits from the gains they make from their good
investments. 3. Become An Expert and Don't Rely on Experts The third success
habit of successful investors is that they only make investments in areas in
which they have an expertise. Great investors make investment decisions with a
high probability of success not because they are lucky or because they have a
crystal ball. Their successful track record comes from the fact that they have a
tremendous depth of knowledge and expertise in their area of investments. All
this comes from hours of research and study. Warren Buffett is so good at being
able to pick companies that will increase in value simply because he has a very
good understanding of how businesses work. He will spend hours reading the
company's annual reports and dissect every price of information before making a
decision. The reason why Warren Buffett makes very few bad decisions is because
he only invests within his circle of competence. He only invests in businesses
which he knows and understands inside out. The reason why Buffett avoided
investing in any Internet businesses during the dotcom boom of 1998-2000 is
because he did not understand their business models. By so doing Jonathan
Quick USA Jersey
 , he avoided one of the greatest market crashes in
recent history. 4. When there is Nothing to Invest in, Don't invest. One of the
main reasons why many professionally managed funds are not able to consistently
beat the S&P 500 is because they are required to invest 80% of their funds
into the market at any one time. If they were to hold more than 20% of their
assets in cash, they will be criticized for not putting the money to work. The
problem is that it is not always a good time to invest and you will not always
find investments that match the investment criteria of a successful investment.
By constantly having to be invest in the market; they suffer as much losses from
bad investments as they do enjoy the gains from good ones. The trouble is many
amateur investors make the same similar mistake and are quick to jump into the
first investment that comes along. One thing I have noticed about all great
investors and traders is that if they cannot find an investment that confidently
meets all their criteria, they do not invest or trade. Successful investors have
the patience to wait indefinitely until they find an investment with a very high
probability for success and a low risk of loss. Only then do they make the
confident decision of taking a large position 5. Take 100% Responsibility for
Your Results As a successful investor John Carlson
USA Jersey
 , you must have the attitude of taking full
responsibility for the results you have acquired, both success and failure.
Lousy investors tend to give excuses and lay blames whenever they lose money.
Their usual responses include: "my broker gave me the wrong advice", "the market
went against me" or it's just bad luck. As a result of not admitting that they
made a wrong decision, the average investor does not learn from his mistakes to
become a better investor. Successful investors are the first to admit that they
made the wrong decisions and used the wrong strategy. They learn from their
mistakes Joe Pavelski
USA Jersey
 , become wiser and move on to their next
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