Important Traits of an Investor
There are many traits that make a person successful in the financial world. Some people are natural born investors, but others have to work hard to gain the knowledge and skills necessary to be successful.
These three traits that I am going to share below should never be compromised in order to survive and prosper in the Investment Realm.
Current Market
Before I go ahead to share the 3 traits, let me talk a bit about the current market condition. Everyone should know that the market is has not been stable for the past 1 year or so. Most people are suffering investment losses.
Personally, I think this is a bear rally. Of course, bear market rally can go much longer than one think. However, I think the market conditions will worsen, and this could be real soon. Disclaimer: This is the first time in my investing history that I am holding such a unprecedent high amount of cash as war chest to take advantage of any pending crash.
Hence, I thought it will be great to share what I think will be the 3 most important Traits of an Investor in order to be successful in investment. Hope this will remind and get everyone prepared.
1. Patience
Patience is a very important trait because it helps you maintain your composure when things don’t go as planned. You need patience so that you can wait for the right time to make your move and not rush into anything just because you want to get rich quick. Patience also helps you wait for opportunities to arise so that you can take advantage of them when they do come along.
Many investors are impatient – they feel the urge to do something every time when the market opens. He or she must always click the buy/sell button else won’t feel comfortable. Are you one of them?
However, some time doing nothing is the best option. Quoting current market conditions as example, for those who keep buy the dip since early part of the early in Stock Market/Cryptocurrency, ask yourself if you are in profit now?
2. Courage
Courage is the 2nd trait that I want to share. If you can be a patience investor, the next thing that you need is courage when the real time come.
One needs to be brave to click the sell button when everyone is Euphoric (see those who FOMO and enter Crypto last year when BTC was 60k? Many were shouting 1 million for BTC. What is BTC price now? Those who bought US growth stock with 100x multiple earnings ratios saying that everything will keep growing).
One needs to be brave to click the buy button when everyone is panic selling. Did you buy during the 15k HSI Capitulation?
This is really not easy. Are you one of those that panic sell HK stock the day when HSI hit 15k instead of buy? You can refer to the post that I have posted earlier on HSI Capitulation on 24 Oct 2022.
3. Discipline
Discipline is another one of those very important traits when it comes to investing because without it there would be no way for anyone to stick with any kind of plan or strategy that they have set up for themselves. Without discipline there would be no way for anyone to stick with any kind of plan or strategy that they have set up for themselves because once you panic buy (FOMO)/panic sell, then you aren’t going to have anything left over for your investments when the time comes, which means that your investments will suffer greatly as a result.
Always remember to stay Discipline, stay on the course based on the plan that you have devised earlier when your mind is cool, without affected by any market conditions. It can be DCA index investing, buy on dip for dividend investing, set target price to buy hot crypto and then quickly sell off before the narrative dies off etc.
Do you have these 3 Important Traits?
These 3 traits are what makes a person successful in the stock market, but it is not easy to find these traits in one person. There are many investors who do not really have these 3 traits, but there are some investors who do have these traits and they are always successful in the stock market. The reason why they are successful is because they possess these 3 traits, and this makes them great investors.
Do you have them? If no, learn and practice and practice and keep practice. No amount of books/coaching can let you have these traits until you truly experience real market conditions with your own money.
Lastly, please remember.
A good investor is the one that won’t panic sell at very bad extreme market condition/capitulation.
A pro investor is the one that can go against own intrinsic desire to sell at very bad extreme market condition/capitulation and press the buy button instead.
Save this picture and keep these 3 Traits in your mind
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