Key Investing Traits

Self-Reliance: It is critical to be independent and think for yourself. Do not let your emotions affect your thinking and decision-making. Avoid any environment that might affect your ability to act with good, apparent Judgment: Consider all facts and meditate on them when investing or trading. Do not let what you want to happen influence your judgment.

Courage: You must be courageous to leave a position if it goes against you. It also takes courage to enter a position when your trading plan gives you the green light.

Alertness: Be aware of new facts that change your investing or trading situation. For example, you should consider selling your shares if a company has sales issues.

Prudence: Stay humble as the market goes your way. It is not prudent to buy a stock when you think the bottom has been reached. You are better off waiting and being a little late. Let the market prove you right. It is also not prudent to wait for the top of a market to sell. It is better to sell a little too soon. The lesson here tells us that picking the bottoms or tops of a market is very difficult and not smart to attempt.

Pliability: Consider facts and then reconsider them. Eliminate your ego and cockiness. Act promptly when you make a proper investing or trading decision based on your trading plan; don't wait to see what the market will do next.