The 10 Essential Fundamentals for Both Car
Enthusiasts and Investors
To make a
broad generalization, European cars lust after curvy roads. American cars
are more about the power, rumble and straight line 0 – 60 speed. There
are key parallels between investors and car buffs, but clearly there exist cars
for every possible taste, just as there are limitless options of investment
methodologies for every investor. Having said that, there are essential
commonalities amongst all car enthusiasts and all successful investors without
which disequilibrium inevitably results.
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The
famous Hollywood director Orson Welles was so captivating that it is said he
could hold an entire audience in his hand by simply reciting a grocery
list. It’s no secret that I’m captivated myself by the power of
lists. I’m a “listaholic” of sorts because concise clusters of pithy
ideas are relatively easy for me to memorize. When I discover a worthy
list, I find that transitioning items from memory and integrating them into my
trading methodology simply requires regular practice until they eventually
become second nature and part of my trading intuition – which was the ive
all along.
So how do
I best lubricate the transition from memorizing these pithy ideas and
effectively folding them into my daily trading intuition? I’m a car guy,
so that’s easy. I use automotive phors.
1. SAFETY FIRST: You wouldn’t buy a car without airbags.
As an investor, first take care of protecting your assets with insurance,
estate planning, tax strategies and the like before you trade equities.
After you begin trading, you should once again put safety first by utilizing proven
money management skills and stops.
2. SERVICE & SUPPORT: I wouldn’t buy a Saab today because
the maintenance and support are fading. Despite what some may believe,
investing is not a solo gig. You should have the moral support of your
family and the intellectual support of your trading circle. A supportive
network increases the probability of success whether you are talking trucks or
trades.
3. HONESTY: If you’re 6’5” tall and believe a Miata sports car
is the car for you, you’re delusional. As an investor, if you can’t be
honest with yourself, you’ll be blind to your weaknesses and investing will be
a brief negative passage along the highway of life.
4. YOUR VISION: You have four teenage kids, you’re working two
jobs and you put down a deposit for a new Corvette. Anything wrong with
this vision? Think mini-van or SUV. Similarly, investors must do an
inventory of their circumstances as well and personalize their trading vision
to fit the trading time frame that matches their situation. Ask yourself
these kinds of questions: Which markets will I trade? How am I
planning to trade? How long do I plan to hold positions? Treat
investing like a business.
5. توصيات العملات
6. CONFIGURE YOUR METHODOLOGY: I used to have a Mini Cooper
S. They claim that with the number of options they offer, it’s possible
to configure over a million different Minis. Investors, too, are offered
a smorgasbord that’s much larger in scope, and because of it, they have the
power to thoroughly overcomplicate their trading methodology. If it were
a car, it would never even start! Focus on clarity and simplicity and you
will build a profitable trading system.
7. SET GOALS: Dream big and motivate yourself. I was
inspired to work especially hard last year because I wanted to buy a
Porsche. We all have different hot buttons. I stayed engaged
emotionally, mentally and physically in the markets, motivated in large part by
that goal. True, some days were just work but I know
“from whence my passion springs!”
8.
توصيات الاسهم الامريكية
9. NEGOTIATION & EXECUTION: Here’s the hard part.
It’s where the pedal meets the l, where the rubber meets the road. Can
you pull the trigger and do the trade? If you don’t have an
action-oriented ability to execute your trades (or your dreams), investing
should be farmed out to the professionals.
10.READ THE MANUAL: These days, one can’t truly enjoy and
experience the full potential of a Porsche or a BMW without reading the
manual. (Sorry, guys!) Whether you are a car enthusiast or an
investor, you must be capable of embracing this new reality. I used to
drive a 1971 Volkswagen Beetle. No manual required. Today, investors
must continually embrace change, take classes, find mentors, and participate in
seminars. In other words, read the manual. You won’t
figure out “launch control” without it!
11. DISCIPLINE & SELF MOTIVATION: Racing school will shock
and awe you as to the capabilities of your modern car. To achieve
self-mastery on the road or within your brokerage account, you’ll need
practice. Consistently applying yourself and pushing from within the
framework of high performance routines will result in the stock market mastery
you seek. If you maintain your passion for the stock market, your own
capabilities over time will awaken that same sense of shock and awe.
12. DETERMINATION: Cars get tired. Investors get tired,
too. Just try not changing the oil in a car for 30,000 miles or
ignoring that red light on the dashboard! Traders will have tough days
and tough weeks. They’ll have 3-4-5 losses in a row. But then you
change the oil, get a tune-up, do whatever you need to do to get re-energized
and believe in yourself and your methodology again.
13. https://www.gold-pattern.com/en
Investing
requires determination and faith, as well as all of the nine preceding
fundamentals.