Of course you are most likely online all the time now that most stock trading platforms can already be accessed on mobile gadgets. It would be tough to avoid influencing your investing decisions with your emotions especially during these times when you see “red” numbers in your portfolio.
Again, I would like to address the attitude of new and young investors. You should accept the fact that you are not like the experienced investors and the hardcore active/day traders. Stop feeling like a veteran when you barely even crossed over your first year of investing.
When you start to feel and act like an “expert”, that’s the time when you have to be ready for some shooting meteor-like impact when the bear season comes. Do not forget what you believed in from the beginning! Long-term! Long-term! Long-term!
Control Your Emotions
1. Investing should be a habit, not an immediate emotional response. This goes out more to employed individuals who have recently learned about investing in the stock market.
That is why you chose a simpler “automatic” investing plan (cost-averaging strategy) so that you can concentrate more on your job, your family, and your other activities in life. Put your emotions instead in these areas.
2. From the start, your investing plan should have included your specific goals and objectives. And most of them should have been long-term. Long-term means five years or more.
Don’t get enchanted too much by the numbers in your current portfolio. Otherwise you will find yourself too obsessed with the up and down movement of the market everyday.
Remember to stick to your specific long-term goals and you’ll feel healthier.
3. Invest like a robot. Master your emotions using your recent market correction experience as a reference on how you should react to future market volatility. (Volatility refers to the crazy Twerky-like movement of the market.)
Most robots in movies that we watch do not panic easily. They just do what they have to do. In a way, you can imitate them. 😉
Always remember that when the market corrects, or worst, crashes, you should just continue what you are doing for your God, your family, and your career. Continue learning and investing with a more steady approach and strategy.
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P.S. 1. Are you an OFW who’s been looking for a investment placement where your money could grow higher than your time deposit accounts? Are you outside of Metro Manila and would like to start investing in mutual funds but have no personal advisors to help you out? Click here so I can help you open a mutual fund account NOW! .
P.S. 2. Due to popular demand, my good friend and business partner Jon Orana will be releasing again his online program called the Internet Business Master Class. This exciting online learning program is about creating and selling e-books in the internet. Here’s a FREE 23-page step-by-step guide on how to make money selling e-books including which topics to write.
P.S. 3. Bro. Bo Sanchez has appointed me as a coach for our young and new investors at the TrulyRichClub social site. It’s a fun, learning family with the purpose of “helping good people become rich”. I’m inviting you to join the TrulyRichClub too and email me at email@example.com if you have any questions. Click here to join!
P.S. 4. My co-author/illustrator Des Feliciano and I have just launched our “The Adventures of Pepot Kuripot and Dora Gastadora” comic book! It’s arguably the first and only personal finance-influenced comic book in the Philippines. Order your copy now from our website http://pepotanddora.com and have it delivered right at your doorstep. Or you can grab your copy yourself at The Pantry at 07 in Makati City and ilovemilktea in Las Pinas City. Now available also in Australia, Saudi Arabia, and the USA! Email firstname.lastname@example.org for more details.
P.S. 5. If you are based abroad or just outside of Metro Manila and has been itching to learn more on how to jumpstart your business dreams, join me and my friend, serial entrepreneur Ginger Arboleda, as we take you through a series 2-hour webinars (for 11 Saturdays) that will help you focus on the technical skills and specific things that you have always wanted to know about in order to grow your business. We have come up with 10 sessions with 11 expert lecturers (with 1 FREE session if you enroll in the full program) that will make you a stronger and better entrepreneur. Register here to join the Enter Entrepreneurship Webinar Program now!
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P.S. 1.The Angat Pilipinas Coalition for Financial Literacy and OFW UsapangPiso Forum will be conducting its first ever PAID webinar in 2013 entitled “Multiplying Wealth – A Comprehensive Webinar on Investing” on March 22, 2013 (both Fridays) at 9pm (Philippine time). The webinar will feature my fellow blogger and personal finance advocate Fitz Villafuerte and he will discuss about investment preparation requirements for beginners, analysis for spotting good investments, types of investments that will make you a millionaire, investment portfolio creation and management, and an easy and simple strategy that will help you retire rich. And by the way, the webinar is also open to non-OFW’s. Register here now! P.S. 2. The OFW UsapangPiso Forum will be webcasting a special talk on how OFW’s can invest in other countries other than the Philippines and their respective countries of work featuring Mr. Jess Uy, a financial consultant based in Singapore. The webcast will start at 3PM (Philippine time) on August 31, 2013. To watch the livestreaming event, go this Ustream link of OFW UsapangPiso Event Feeds Channel. You may also register at our Anymeeting webinar platform through this online form.
Photo credit: Museum of Hartlepool