How to be a successful investor? A Successful investor is born or made? Nobody is born as an investor. So we can undoubtedly say that a successful investor is made, not born, but how? Here we are not going through the process of being an ordinary man to a glorified investor, but we will discuss the important qualities of an investor which will make him a successful one.
Knowledge of Investment related Matters: An investor must have knowledge about investment and investment related matters. He could understand finance, financial planning and financial instruments etc. This knowledge can acquire from financial Medias and related information. If you don’t know the field of investment and investment strategy, you will fail and all your hard earned money will lose. So an investor must get enough knowledge about investment and at least the financial instrument which he invests his money.
Personal Commitment: An investor must be committed with his investments. He should study his investment portfolio regularly and make enough changes whenever required. He should watch the present financial market and learn from it. If he invested in many different financial instruments he has to spend more time to study all of them regularly. So he must be committed for it, unless he cannot be a wise or successful investor.
Well Disciplined Person: An investor must be a well disciplined person at least in his financial matters. He must be patient to watch his portfolio growing. He must not be greedy or coward. He should be ready to face victory and loss. He must not invest or disinvest in a hurry. Do it only after a careful study. If he invests in equity market or forex he has to take crucial decisions, but observe everything well before such decisions. Do not follow the multitude. Go with confidence and thorough knowledge.
Patience is the best quality: Even if we discussed this in the abovementioned discipline, but this is much important in investing. Keep in mind that the time taken for a financial portfolio is to earn good harvest is not easy just like a glimpse. It will take time and wait until then with patience. The great thing is to develop an investment strategy than managing your portfolio. Once you develop your investment strategy you can easily manage your money and wealth.
If you have no time and other related requirements to be a successful investor, we strongly advice you do not invest in complicated equity market or mutual funds, just put your money in Bank fixed deposits, Post office savings, Provident fund etc., and live peacefully and enjoy your life. But if you have the abovementioned quality and time to spend on investment be a good and successful investor and earn more and more as a confident investor.
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Careful about Long Term Financial Planning
Invest in Fixed Deposit & Fixed Maturity Plans