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How to Become a Succesful Investor

Jan 30, 2008
Even the most experienced investors from all over the world will tell you that becoming a profitable investor is a long journey.First you have to research everything that is out there on the financial markets and then you have to look at yourself and ask yourself what kind of personality you have got.This all takes a lot of patience.After that you also got the trial and error phase.

Investing can be a very time consuming enterprise.Make yourself well aware of this before you start your endeavor.Place your targets and mark your goals before you go forward.Set your timeframe and figure out how much capital will be needed to achieve your goals.If you want to retire in let's say 20 years then you must find out how much you want to make to do this.

The next thing you have to do is find out what works.Look at some reading material and check out on an investing course,a lot of info on this topic can also be found on the world wide web.Once you have established your strategy and feel comfortable using it you must set your trading rules.Trading can be done using fundamental or technical analysis,they can be used together or you can use just one of both.It's up to trader what will be used but has to be figured out before you start.

Decisions that need to be made can only be made by the investor himself.Find out what kind of personality and character you have.The best investors are the individualists and traders who can be very analytical in their thinking.

It takes a lot of studying and this can take up to much time for some investors.Maybe an investment fund can be a good alternative,make sure you check out their past performance figures before you invest.Tax wise,investing offshore can be very beneficial.

You also got to figure out who your friends and enemies are.Your books,the media or an experienced investor can be considered as your best friends.But do remember that you always have to be very careful who you trust as your capital is at stake.Also keep in mind that your enemy number one is your own personality when money is involved.Don't compare your own performance with what your friends might be making,that's using a short term vision while you have to look at it in the long term when investing.

If you are not disciplined there is a big chance you won't make it.You have to stick to your strategy ones you have chosen one.The most important thing that you must do is keep studying,this is what can make it a success.This can be a long process.If you make a bad investment you must accept it,learn from it and move on.

Your profits will be based on your long term vision and the effort you put in but never walk away from your trading plan,stick to it at all times you there is a good chance that you will make it as an investor.
About the Author
Mark Plummer is a UK based independent Offshore Investment advisor.Has been involved in the financial services and financial planning business since leaving full time education.
Before you decide where you want to invest your money please visit this Investment Fund
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