Good investors know that the market is much bigger than any one investor. An average investor first spends his money then invest what remains. On contrary, a good investor first invests and later spends the rest.
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Learn What type of Investor Are You? Here are five signs of good investors
1.
2. They First Set Their Financial Goal
In the words of Alan Lakein βFailing to
plan is planning to failβ. For right
investment plan, you need to first be clear
with your financial goals. Your financial
goal tells you where you want to reach in
the defined time horizon, and your
investment plan then helps you to draw a
road map to reach your financial target.
3. They Never Say No to Research
βThe more you know, the better you doβ.
Good investor never says βNoβ to the
knowledge of the market. He frequently
reviews his investment portfolio and is
updated with the market news. Therefore, he
understands the position of the funds he has
invested in. He also has maximum research
and updates of the company he has invested
in, their investment strategies, as well as, their
philosophy.
4. βTiming is very crucial.β
Good investor keep an eye on the
market trends, falls, rise, and
volatility. They are updated; they
have a track on the market
activities and growth. Their
understanding and knowledge help
them take a calculated decision at
the right time.
They Take Right Decision At The
Right Time
5. They Keep Their Calm
With patience, a good investor creates
wealth through compounding. They have
faith in their plans, and hence, they wait
to keep their calm. They usually do not
feel bad about the market volatility; they
rather wait patiently to celebrate market
rise.
6. They Know Their Risk Tolerance
A good investor knows the inherent risk in
the investment instruments that he has
invested. He has well in advance prepared
his plan, he frequently reviews his
investment portfolio, and he has updated
with the market trends. Knowing your risk
tolerance helps you make the right
investment decisions.
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