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Investing for Beginners - I
How do we start to invest our money into the stock market? Understanding the several investing styles is the first step. Its difficult to get there unless we know where we're going.
Beginners?
What does a reasonably intelligent individual...
Investing - How To Profit Using Formulas
A classic Wall Street yarn, concerning a young man who was in
the early stages of learning to be a professional speculator
goes something like this. The young man had a problem, so he
went to an elderly gentleman noted for his shrewd...
Investing - It's a Whole New Language
What does the term Preferred Stock mean? Learning the Lingo of Investing
Many of us are involved in the stock market, sometimes
indirectly. If you participate in a 401k or mutual fund,
you are investing in stocks through a corporation.
...
Learn Creative Real Estate Investing
With a job that paid $3.40 an hour, I saved $5,000. I used $3,500 of it to buy my first piece of real estate - 2 acres near where I lived. As you can guess, this was many years ago.
A few hours removing brush, and it was ready to sell. I...
Real Estate Investing - Ten Myths
Is real estate investing only for the wealthy? Can you buy with no money down? Do you have to know the "right" people? Let's answer by looking at some of the myths of real estate. 1. Real estate investing is for the wealthy. Money helps, but my...
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Investing and the Fear of Regret and Greed
Discipline can be simply defined as your ability to follow your investing and trading plan.
Discipline is a rather simple concept. You just need to define what, when and how you want to trade and manage it. You also need to decide how to handle your account when you are making money and also when bad days come along!
Psychological issues make up 90% of the trading equation. Discipline is the essence of all of the psychological issues. It permeates throughout the whole process. All the rules and procedures and plans do not matter if they are not followed.
There is little doubt that for those who seek success in trading, failure rarely comes from writing the wrong plan. It comes from not writing one at all, or not following the one that is written!
Once you make your plan the following three rules are in order:
1. Don't change your plan during the trading day.
2. Commit to only making changes when the market is closed and
3. Go over your plan every morning before you trade.
The best way to enforce discipline is
just by awareness. Keep records of your trades. On every trade, include an answer to the simple question, "Was this trade part of my trading plan?". Yes or no. There is no in-between!
Be aware that the undisciplined traders are almost guaranteed failures.
Ask yourself if you are keeping the discipline, or are you just taking random trades that look good at the moment?
You can't fix something if you do not know it is broken.
You must first be aware that you have a discipline problem!
If you do have the discipline problem, there is an absolute answer for you!
The answer is this:
JUST DISCIPLINE YOURSELF... There is no alternative!
About the Author
Copyright © 2005 I.E.C. Haramis
haramis@greekshares.com http://www.greekshares.com
Ioannis - Evangelos C. Haramis was born in Greece in 1951 and he studied in Greece, USA and in Belgium. He has been active in the stock markets since 1972. Since 2002 he is New Business Development Managing Director at an Investment Bank and publisher of GreekShares.com
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