• Why unskippable Stories ads could revive Facebook – TechCrunch
  • How I made my own WireGuard VPN server – TechCrunch
  • Direct Mail For Tennis Coaches
  • Home run exits happen stealthily for biotech – TechCrunch
  • Tapping into the power grid could predict the morning traffic – TechCrunch
  • Business English And Its Importance To Business And Professional Success
  • Tesla is making a $1500… surfboard? – TechCrunch
  • Vital Marketing Concepts
  • Verizon’s new ‘Safe Wi-Fi’ is a VPN that blocks ad tracking for $3.99 a month – TechCrunch
  • Self Determination – Making the Most Out of You

Investing Goals and Plans – They’re Not Optional If You Want to Succeed in the Stock Market

The vast majority of people who invest in the stock market do so without a goal or a good plan. Many have no plans at all. Unfortunately, a good plan is not an option, it’s not a luxury nor is it something to think about if time permits. Rather it is an absolute necessity that must be prepared before taking action. Without a plan, all of the best resources and advantages in the world will be for naught. With a plan, even the simplest tools and resources can be combined to produce great benefits.

The Stock Market is somewhat like a force of nature. It wields tremendous power and moves forward with a seemingly irresistible force. Too often individuals are caught up in its flow and, unable to escape, quickly overwhelmed.

However, it doesn’t have to that way. With a good goal, a plan and a few time-tested rules in place, you can escape the clutches of the market monster and thrive in a world littered with the remains of bad investment decisions. The importance of setting goals and creating plans is so crucial, I’m going to revisit what you need to do. It should be obvious that if you don’t have an investment goal, you won’t know where you’re going.

To put it into perspective, would you jump into a car, in a strange city, and just follow the road without knowing where it led? If you did that you’d probably find yourself lost and out of fuel. That’s why most people have a destination in mind when they start.

Investing is no different. If you don’t know what your investment goals are, you’re destined to wander aimlessly in the market’s wilderness, making one bad decision after another. By setting your goals, whether it’s investing for retirement, your children’s college or a three-month family vacation, you can put the appropriate plan into place (such as a long-term, medium-term, or short-term plan).

If you’re investing, say, for the long-term, then you can safely ignore short-term market conditions because they won’t affect you. However if you don’t know your goal, then you won’t know whether short-term market fluctuations will affect you or not. That’s not a good position to be in.

Once you know your goal you’ll need to implement a good plan to get you there.

Many investors lose money because they invest using a hit-and-miss, gut-feeling approach. They buy and sell when they “feel” it is the right time. Unfortunately “feelings” usually equate to large losses. Successful investing, like anything else, requires a plan that has been fully researched and historically proven to produce results.

So take a moment to review your investment goals and plans. If you find that you don’t have any, clear your calendar and create some. It can be the most profitable time you spend in your entire life.

Source by Mark Hing

The following two tabs change content below.
Sanjay Tatwawadi
Sanjay , allthough an engineer by profession has varied interests in sales, marketing, sports, science and spiritualism. He coaches and specialises in training the new generation for betterment in life. A Rotarian to the core, he has excelled in adding value added program for enrichment of society at large Having lead the team to different countries in vocational and cultural exchange programs. An avid cyclist and badminton player, he is passionate in writing and promoting good reading habits in youngsters.
Sanjay Tatwawadi

Latest posts by Sanjay Tatwawadi (see all)

  • Direct Mail For Tennis Coaches - July 29, 2018
  • Business English And Its Importance To Business And Professional Success - July 29, 2018
  • Vital Marketing Concepts - July 29, 2018

Categories: Trending

Leave A Reply

Your email address will not be published.