Can't do them anymore
Have you ever thought you are a crook when making your financial plans? I now feel I am such when I think short term. I once covered an article related to this and will be adding my further experience in this one. The how to get rich quick mentality is fading off from me whenever I am thinking of financial freedom. Yes, sometimes we are so financially pressed that we think of the fastest stocks/crypto to just buy and exit the market in a week or less.
I have been in such situations before, there were times I would be on such lookout. As I am speaking, I need some extra bucks to cover up some things and it popped into my mind that a quick market glance could do some tricks. Just then it popped up in my mind; Dani, you know this is no longer our way of financial freedom.
I mean what level of conscience can this be. Everything about me is now inclining to long term. Anything short of this, it makes me feel I am a gambler. We all know gamblers get to not keep whatever they own.
The truth is, the risk of short term gains are very high. In the process of trying to transform $100 dollars to $150 within a week, the chances of finding yourself dropping your buck to $70 or $50 is very high. Nervousness is never a good investment strategy; you will exit too early because you are already overwhelmed with fears.
You are trying to solve you immediate problem is a few time frame inside an unpredictable direction market. This one is not all about crossed fingers, you fate is very easy to be decided.
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I get encouraged a lot by Warren Buffett. Any youngster who can imitate him is likely to gain financial freedom. Have you traced his history? I once heard a wise word he released to Jeff Bezos if I am not mistaken when he was asked how he had been able to outlast and outshine the world of investment and his response was a take home; ‘I have patience’. Few words, rich results. “Patience I have come to realize wearies failure”---dani-EL.
I was reading something related yesterday about the best picks by top financial market investors and I realized Warren and his team have taken a big move for United health. Never heard of them until I went through that article; they are one of the biggest if not even the biggest health firm in the US.
Their stock got hit big with some lawsuits they have to face. It has declined close to 50% in the process; a good buy for those who understand want reputation means for a big business.
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Will Warren get his profit from these shares? This seems an easy prediction, first, he is buying at a 50% slashed price. Secondly, knowing the tactics of Warren Buffett, he is not planning to sell in a year of two. Think of five years and above. We all know how demanding healthcare can be with rising population and increase in health concerns. Back to where it all began, I am trying to end a habit and I hope I am able to fight it at such crucial times.
I am not saying everyone will have to think like me, we all have choices on how to enter the market. Many make a living shortening the entire market activity. If this be you business, never fail to take profit and invest on long terms too in the process. Gambling is a game that gets wrapped up in grand styles not to your favor.
To conclude, let me add, the journey to wealth is one that requires just the right technique. Scrambling here and there won't solve this problem. It is high time one sits back to discipline himself and focus. I am not saying one shouldn't take his profit at some point, the entire decisions are yours.
Nevertheless never run a life of short term gains, it will affect your entire investment habit. In the end it will seem the market was bad when actually you are the one bad in the market. This goes beyond the online even into the offline space. Create a long term mentality, the advantages are too numerous.
Posted Using INLEO