| People love to huddle together in share | | | | Having a sound method is the first step. |
| clubs, forums, associations and seek popular | | | | |
| opinion. There's nothing wrong with this but | | | | Develop your own profitable track record |
| make sure that you're in a position to make | | | | without the crutch of share clubs and forums |
| your own judgements about any investment. | | | | and the like. Become totally confident in |
| | | | yourself by virtue of your own results. |
| So you think there is safety in numbers? You | | | | |
| think by joining a share club or a forum or | | | | The next qualm I have is with people thinking |
| association you can get the answer to | | | | advisors and experts know more than they do. |
| successful investing? Sure, you can pick up a | | | | Sure they're industry 'professionals' but |
| few useful tips and tricks and information | | | | this doesn't mean that they know how to make |
| and education. But what else are you looking | | | | money. People think that share market |
| for? | | | | investing is specialised and complicated, |
| | | | that financial advisers and experts have done |
| It is perfectly natural for us as human | | | | a lot of study and know a lot more than you. |
| beings to want to socialise. But consensus in | | | | |
| a group is not a successful strategy for | | | | You think they know how to make money on the |
| profitable investing. For every trade that is | | | | share market |
| made on the any stock exchange (many billions | | | | |
| every single day) there has to be a buyer and | | | | Well maybe, in fact that is definitely what |
| a seller. Two people that have opposing | | | | they want you to think so they can still keep |
| views. | | | | receiving their commissions and fees from you |
| | | | |
| Consensus won't cut it. In the share market | | | | But it is not true. Sure, you need to learn |
| there is always someone who has a different | | | | how to make money on the share market. And |
| view, someone has to think that the share is | | | | you need to gain sufficient experience to do |
| cheap when you want to sell it otherwise | | | | so successfully, but it is no where near as |
| there is no trade. | | | | complicated and difficult a skill to pick up |
| | | | as plumbing or plastering or accounting or |
| So provide yourself with the education and | | | | gardening or cooking. And certainly much, |
| practical experience to become 100% self | | | | much easier and miles less complicated than |
| sufficient with your investment decisions. | | | | medicine or dentistry or rocket science. |