🔥🔥🔥🦾🦾🦾How to improve trading mindset over time?🦾🦾🦾🔥🔥🔥
In the beginning, all the stocks you see that have volatilities will attract your attention. You always look at the hottest stocks that everyone is talking about as it create buzz in your circle of friends. So we always focus on what is hot.
Just ask ourselves, if it creates buzz, it will create the extreme as well. We try to become the rocket scientist, we read chartist’s evaluation, we tell ourselves we are the genius and will beat the world, trading the hottest stock everyone is talking about. We believe we will be the next guru. But days after days, we live a roller coast life. So after a period of evaluations, I realized.
1) Put the priority on understanding Fundamental Analysis. Understand the financials of the stocks, as it is the basic of what the company is doing.
2) Pick a few stocks with potentials that you concluded as potential with your knowledge in Fundamental Analysis. Meaning after reading and understanding the financial, pick a small pool or rather shortlist about 5 stocks that you see with potential. Monitor their movements regularly.
3) Use Dollar Cost Averaging strategy and set regular amount and regular interval to select from this pool of 5 stocks and pick and buy a fixed amount, fixed monthly the most under value one.
4) Continue and do the same over a period of time.
I realise over a horizon of maybe 3 years at least this is my assessment. You will sure see a uptrend.
It won’t make you stick to the stock market screen every minutes. It makes monitoring a lot easier. And surprising, you see steady up trending.
That’s my actual experience and real life experience. Sharing my 1 cent worth knowledge again!
Good Luck, Moo-Mooer!
👍🏽👍🏽👍🏽👍🏽👍🏽👍🏽👍🏽👍🏽👍🏽
Just ask ourselves, if it creates buzz, it will create the extreme as well. We try to become the rocket scientist, we read chartist’s evaluation, we tell ourselves we are the genius and will beat the world, trading the hottest stock everyone is talking about. We believe we will be the next guru. But days after days, we live a roller coast life. So after a period of evaluations, I realized.
1) Put the priority on understanding Fundamental Analysis. Understand the financials of the stocks, as it is the basic of what the company is doing.
2) Pick a few stocks with potentials that you concluded as potential with your knowledge in Fundamental Analysis. Meaning after reading and understanding the financial, pick a small pool or rather shortlist about 5 stocks that you see with potential. Monitor their movements regularly.
3) Use Dollar Cost Averaging strategy and set regular amount and regular interval to select from this pool of 5 stocks and pick and buy a fixed amount, fixed monthly the most under value one.
4) Continue and do the same over a period of time.
I realise over a horizon of maybe 3 years at least this is my assessment. You will sure see a uptrend.
It won’t make you stick to the stock market screen every minutes. It makes monitoring a lot easier. And surprising, you see steady up trending.
That’s my actual experience and real life experience. Sharing my 1 cent worth knowledge again!
Good Luck, Moo-Mooer!
👍🏽👍🏽👍🏽👍🏽👍🏽👍🏽👍🏽👍🏽👍🏽
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NANA123 : DCA strategy yyds!!!
QwinbieOP NANA123: Thanks, Nana123!
QwinbieOP NANA123: I din know if DCA works for others, but it works for me.