In the short video above, I put together a list of six things they will never tell you about Trading, Investing and Gambling.
One thing about trading is that the market is always Cyclical (price goes up, comes down and move sideways). This simply means there will always be another opportunity to enter the market. If you didn’t make a trade when the price ran up, don’t regret it, instead, start planning for your next post.
Most times when you invest; you simply buy low and sell high. However, the reverse is the case when people invest in the real world. Many people buy high and sell low.
A very interesting fact about investment is that is good to always cash out your profit. Always sit on cash or have money set aside to reinvest when better investment opportunities surfaces.
Never make the mistake of always having all your money tied up in investments.
Gambling is when you enter investment or take risks without proper planning, analysis and even checking whether what you’re doing aligns with your purpose. A lot of people nowadays do things that don’t align with why they’re investing in the first place.
Mind you I don’t have anything about gambling, I do gamble once in a while especially in places like a casino and the likes. However, the first thing I suggest when you’re gambling is that you know you’re gambling.
In conclusion, I will leave you with this great quote by the author of Rich Dad Poor Dad.
Investment is about what you know and not what you do. And your ability to learn and implement fast will make you a successful investor…. Robert Kiyosaki
Watch the video above and share your thoughts in the comment box below.