Focus on the right objective when it comes to investment (Part 1)
Investment or trading in the stock market, bitcoin, or forex involve it not so easy to get your mind focus. There are full of ups and downs every trading day. Should you not keep your objective in line, you will lose your money and emotional stress out.
However, you may be wondering it is not difficult to keep the objective because the objective is to make money. If you think the objective is to make money in the world of investment and trading most likely you are heading in the wrong direction and will not be successful.
Why? Simple, because every successful business owner knows the key to make money is to offer good products or services to solve a problem. In the process of offering such great products or services, people will pay for your solution and thus you make money. They do not begin with the mindset that I want to make a lot of money from you.
It is no different when it comes to investment or trading the market. You must know the field well enough to make money. Therefore, having money as an objective does not work. Do not get us wrong that we should not look at the return on investment and our investment account. We are just trying to pass a message that one should put their focus on other areas and the money will come to you.
There are several benefits of doing this or you have successfully understood this such as:
- No emotion on winning trades or losing trades
- Stay in the course longer and will not switch because of some offers that offer a higher return.
- Will not falls into scams easily
- Be more consistent on your investment return
If money is not the focus what should an investor or trader be focusing on? We will discuss more in the next article.