getting rich from shares, page-67

  1. 2,388 Posts.
    If you want to be rich:

    At a macro level pick the market cycles, buy in early. Being in the right area but the wrong stock will buffer your loses somewhat. Being in the right area with the right stock will get you your 10 baggers.

    Sell your losers, ride your winners.

    Patience. Be right, sit tight. Money in the market is money invested in yourself, nothing goes straight up and many times things will move much slower than you want, self doubt will be pervasive. Continue to evaluate your positions, if you think you are right, back yourself.

    If you are right, don't be tepid, go in hard. You will not get rich with a diversified portfolio of safe assets, you may will do well for yourself but you won't be rich.

    Don't be afraid to be rich, don't sell too early. Take some money off the table though, just not all of it. At the same time protect your capital, the market can turn against you, recognise corrections vs more serious market changes and be prepared to sell the lot. Reinvest when the fear is palpable.

    Get lucky. It happens, don't delude yourself that it was your genius.






 
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