During my time as an investment coach I have seen two human behaviours that are absolutely detrimental to investing. The first is a severe lack of confidence on the part of first time investors. They may want to invest in the share market but they are not sure that they can. And who can blame them. After all, they are only mere mortals and have heard that even most brokers and financial advisors cant make money at this game. Sounding familiar? So you never fired the bullet
You never gave it a go
You denied yourself the benefit of getting your money to work for you
So you continue to work for your money
You stay on your treadmill and nothing changes. You can change if you want to. But do it the right way. Prove to yourself that you can do it.
Establish your own successful track record
Gain the confidence that was once lacking
Enter the real market with real money only when you are ready.
And that is only after you have shown yourself you can make good money consistently and safely. The second impediment to investing is procrastination. Is that you? A non-starter? You are forever going to do it tomorrow, but tomorrow never comes. It is on the to do list for another day. Always looking, but never quite commencing, you think you should, but you dont quite get around to it? You know you should do this but you are too busy? You always come up with a reason for NOT doing instead of doing. You wonder why things arent happening for you in your life. One definition of insanity is doing exactly the same thing and expecting something to change. Imagine where you could be and what you can achieve in just one year if you did this. You dont have to imagine where you will be in a year if you dont do this. You are already there. And you know what? The same year will pass in exactly the same time for you for either choice. How can you fix it well thats up to you. But through seeing yourself investing successfully BEFORE you risk real money on the real market and feeling the taste of success by your own effort you will go a long way to getting over the lack of confidence. And if you see success your temptation to procrastination will be replaced by eagerness. |
