Do You Have the Discipline to Invest?

12 Nov

Do You Have the Discipline to Invest?

I’m guessing that you wouldn’t try to walk a tightrope across Niagra Falls if you weren’t extremely disciplined.  Although it’s not always as life threatening, investing, too, requires a great deal of discipline.  Here’s an article on investing advice that I was recently quoted in where I discuss this topic:

Top 50 Tips on How to Invest in the Stock Market

There is so much advice on stock market investing that makes it sound simple. “Buy Low, Sell High” is one of the most often heard, but also the most useless. Of all the books that I’ve read on how to invest in the stock market, at least half of them didn’t give one piece of concrete, useful information (you can see my list of favorite books on investing here). This is why I surveyed dozens of market pros to uncover some concrete stock market tips that you can actually use. The following insights are the result of this project.

#39 “In periods of uncertainty, the only thing that can save you is your discipline. you must determine how much you are willing to lose before selling, and you MUST stick to it. Those that didn’t adhere to a discipline in 2008 and even during the dot com era lost a lot of money. You can protect yourself on the downside, using strategies such as stop loss orders, by sicking to your discipline. Discipline is important on the up side as well. You can’t get too greedy when you have a winner. You must be able to decide when it’s time to take money off the table.”
Rob Wilson

You can check out the other top 49 tips over at Investing IQ by clicking HERE.


One Response to “Do You Have the Discipline to Invest?”

  1. copper penny January 30, 2013 at 9:46 pm #

    Nice post. I learn something new and challenging on blogs I stumbleupon on a daily basis.
    It will always be useful to read through content from other writers and practice something from other sites.

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