Saturday, December 2, 2006

Objectivity Required

I remember when I was heavily invested in the stock market. I had inherited a portfolio of stocks from my aunt- good companies, but nothing that was performing by leaps and bounds. My son was giving me tips on high-tech stocks to get into. I made some good money by following his advice, and then got out right before the tech bubble burst.

The same principle applies to Forex trading, real estate, or trading of any commodity- do not become emotionally "married" to your investment. It is just a vehicle that will, if done right, make money for you. Do not hold on to a loser because your late father worked for the company, etc.

Emotions have no place in the arena of buying and selling.
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