Three Simple Rules of Investing

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DON'T:

1. Spend every penny you make.... (save/invest)
2. Believe that anyone cares for your investing money as YOU do
3. Follow the herd...(develop YOUR own investing plan based on goals)
4. Fall victim to the thought that the past has anything to do with investing in the future

 

Or "Just Keep Buying"

 

Ignore the noise

 

"Investors can seek to override their inherent biases in many ways, Crosby said. Among his suggested strategies:

Tune out the noise. Don’t check your investment accounts daily. Don’t fixate on every gyration in the market. Don’t drown yourself in metrics. And don’t let negative events disproportionately drive your investment decisions.

Have humility. You can’t predict the future. And you will never have perfect information to make a sure bet on a single stock or sector.

Diversify your holdings. Crosby put it this way in his book: “Diversification is … the embodiment of managing ego risk. [It]’s a concrete nod to the luck and uncertainty inherent in money management and an admission that the future is unknowable.”

For example, to counter so-called home bias in your investments, Crosby suggested you shouldn’t invest much more in domestic stocks than their percentage of the world market. Depending on how they’re measured, US equities represent anywhere from 45% to 60% of the global equity market. But average US investors typically have a much larger share of their equity holdings in US companies, and very little in foreign stocks.

Put a system in place. Automating your savings and investing across a diverse portfolio regardless of market conditions often works well. The same goes for automatically putting away a certain amount of savings for near-term goals and emergencies"

To make money, avoid these common mistakes | CNN Business

 

What these "expperts" won't tell you is that there's a big idfference between making money, building wealth and investing.
They treat as if it's all the same.

 

How did "tune out the noise" work with crypto ? The happy clappers are silent and praying. Is prayer a investment strategy ?

 

Or, several lifetimes - preferably.

 

"Ignore the noise"

That is the number one paralysing aspect of 99.9% of investors. Most of them listen to the news and random's on the internet who have done nothing themselves and listen to it.

Mindset and positivity is also a very important aspect of any successful investor. I've never met a pessimistic investor that focus's on negativity ever.

 

Some don’t like Kiyosaki, but one great piece of advice he gave was:
Stick to “your” plan.
If someone comes up to you with a great investment opportunity in an area you don’t specialise in and focus on then don’t get excited or distracted by it and stick to your own original plan.
Investing can be extremely boring but patience and discipline pays off to those who see it through.
It’s usually those who chase excitement and speculation that have large swings up and down and can eventually get wiped out by getting too greedy or chasing losses, or just end up going nowhere in the end.