Investing: Create a Plan

Create a simple plan for yourself which will guide you what to do in different situations and stick to the plan no matter what.

You need not to go in full detail you just have to create a plan for every possible situation. So that you do not loose. And remember stick to the plan you have no matter what. 

At the time of the stress our judgement is clouded and we are not able to think clearly and we take wrong decision. People have the tendency to overthink in heated moments which result in losses. So create a plan just before starting and create a plan for every single condition so you don't have to think at the moment of stress. You just have to execute what you have planned earlier.


Example: Suppose you have to invest in a stock. So, you must beforehand create a your exit plan (i.e. the time you are going to sell your stock). You must take in consideration if the stock goes up, say 20%, you are going to sell the stock and you must also take into consideration that the stock goes down, say 15%, you are going to sell or you are going invest more money depending on  your plan.


So, always create a exit strategy even before entering.

HAPPY INVESTING 

AND
THANK YOU FOR READING

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