What you should be focusing on: (Part 3)
This will be the continuation of the last 2 articles. In the previous 2 articles, we have discussed the importance of focusing on the right objective and what we should not be focusing on in our investment journey. If you have yet to read the previous 2 articles you may click the link below:
However, you must be wondering so what should be our focus if we want to be successful in our investment journey. This is exactly what we will list out in this article and these 3 points should forever keep reminding yourself so that you stay focus.
1. Achieve your financial goal
Everyone has a different financial goal in their life, therefore the first thing to focus on is setting your own financial goal. The fundamental of investment is to achieve a financial goal. We encourage you to have your financial goal written down with exact numbers and as detail as possible. If you know your financial goal you will be must of peace in your investment journey.
You should not get too disappointed missing an opportunity or over-excited following the herd investment into high return shares or strategy. Since you know you will achieve your financial goal by following your plan and investment strategy.
You cannot possibly catch every move in the market therefore it is important to only get what you want out from the market.
2. A consistent and simple strategy
The next perhaps is to focus on your consistency of return and some simple strategy, rather than a complex and complicated strategy. Do not misunderstand that you should just use the moving average strategy since the emphasis is a consistent and simple strategy.
Every strategy has its own characteristic, some are suitable for a single event, some are scalping require plenty of time looking at the market, some long term, some require very high technical skill, etc.
The key is to focus on a strategy that consistently generates return over a long period of time, simple enough that can follow and accessible to the public. You must have this strategy that achieves your financial goal.
3. Sharpen your financial knowledge
The last thing that you will need to focus on is to continue learning financial knowledge. What we refer the financial knowledge not only in terms of trading and investment but also includes such as the financial intelligence that is mention in the book “Rich Dad, Poor Dad”.
For trading and investment knowledge most people were focusing on the indicator and technical analysis, but the fact you need to equip more knowledge than just studying technical analysis. There are other areas such as money management, fundamental analysis, understanding the global economy, the physiological part for investment, and be aware of the latest changes in the financial world.
We would like to end this with Brain Tracy’s quote “Continuous learning is the minimum requirement for success in any field.”.
Leave A Comment