If investing were easy, everyone would be rich. Unfortunately, investing is not traditionally easy to figure out initially or even for seasoned experts. There are, however, ways to give yourself an advantage. Here are five ways to improve your investing prowess.
1. Devote more time to tedious research.
While there are never any guarantees in investing, the more you know about companies, the better your instincts will be when it comes time to putting money on them. Stick to a specific area, such as technology, and learn everything you can about the industry, the people who make things happen in it and the various things that influence success. Subscribe to as many newsletters as you can find and read what other investors are thinking, too.
2. Follow market trends daily.
Market activity usually follows trends, be they cyclical normalities or sudden reactions to circumstances. The more you observe trends, the more you can predict them in the future, based on the patterns you become familiar with. Watch what happens to markets all over the world on a daily basis, taking note of why things go up or down, what’s making investors nervous or causing them to salivate. Eventually, you will be capable of seeing what’s going to happen next long before others.
Being in charge of your physical self gives you more confidence, makes you healthier and actually boosts your cognitive abilities. As opposed to being lazy and idle, where you basically let things happen to you, exercising puts you in charge of what’s going to happen in many ways, thus, giving you greater decision making power. Confidence and well-being can strongly influence your success with investing, as will reducing the stress in your life, another benefit of regular exercise. So much of investing has to do with the big picture, and as part of it, you yourself need to be in top form at all times.
4. Use practice software to sharpen your skills.
If you’ve been on a losing streak or for any other reason are doubting your abilities with investing, go back to the basics. Use free software that lets you practice or pretend to invest, without any real risk. The process should sharpen your skills, show you that you can do it and therefore, elevate your level of confidence to where it belongs.
5. Consider astrology as part of your investment planning skills.
You are a small part in a much larger scheme and many things influence your success (or failure) in life. If you take into consideration all the things that can turn a bad day good or a good day bad, you are then in a better position to control them. Astrological charting, and especially Financial horoscopes analyses for investing, have been used for centuries for everything from money, to love, wealth and happiness. The things that influence the larger scheme you are a part of all trickle down to your daily life, meaning you probably have a lot more control over your success, including with investing, than you may realize. If you haven’t already, look into how astrology impacts your life, and try to apply those forces in your investment decisions.
When you think about it, nearly everything in life is related to or dependent on everything else. The more well-rounded you are as a person, the more control you have in your own life to begin with, the more powerful an investor you can be.