"Invert, always invert"The inversion principle started when the great Prussian mathematician, Jacobi, who urged his students, "Invert, always invert.". He found that the best way to solve a difficult question mathematics problem was by solving it in reverse.
In our stock trading journey, we can always apply this theory. This concept will help us to see the right course of actions because we identify the trading mistakes that we need to avoid.
The question that I often ask myself, "What would I have to do to guarantee my stock trading failure?" The following is what I have on my list...
1. Spending more than I earn, failing to accumulate my wealth for trading
2. Trading with no long term goal
3. Not understanding how stock market works
4. Not having a system to trade
5. Never check my emotion (fear and greed) while trading
6. Never learn from my trading mistakes
7. Listen to rumors
8. Let losses run, cut profits short
9. Not disciplined enough following my trading system
10. Failing to do proper position sizing
11. Overconfident in beating the market
12. ...
The question I ask you, "What would you have to do to guarantee your stock trading failure?"
Good list. I don't think you even need for it to be a complete list. If you can avoid those 11 things, you've got a pretty good chance of succeeding.
ReplyDeleteTotally agree with you! Identifying those mistakes is a good start, next is to make sure we do not do those..
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