When considering making investments, we often prefer to do what everyone else is doing. We feel more “secure” knowing that other people just like us are making similar decisions. We take comfort in knowing that we are not alone in our choices.
But is this really a smart way to invest our hard- earned money?
If it is true that 85% of traders and investors lose money, isn’t it apparent that we need to be trading alongside the winners and against the crowd?
If you are interested in managing and growing your capital, gaining an education from those who really know how the markets work is perhaps the best investment you will ever make. Find a mentor who is proficient in an investment area you prefer and is willing to teach you. Learn all you can from them.
Study and be aware of what is happening in the general economy. Read financial newspapers. Watch and observe real estate, precious metals, stock markets, and commodities. Then dabble with a little money as you gain valuable insights through personal observation and experience.
You can find links to some of the best financial experts available at wizardsofwealth.com.
Knowing when the herd is about to turn and run in the opposite direction is one of the most difficult and important financial skills you will ever develop. You will feel all alone as a cautious, contrarian investor, but it sure beats getting trampled when the herd decides to run.
The trend is your friend, until it ends…
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