The secret to investing success is patience. There are no magic words or millionaire insider tips. The secret to investing success is identifying good businesses and purchasing them at a cost that offers a chance for growth. In summary, the secret to investing success is in two parts:
1. Identify a great company.
2. Get in early and buy at a low price.
Nevertheless, some investors aren’t keen to do the essential groundwork and look for a shortcut. We all want an edge when investing in stocks. The marketplace can seem overwhelming and any benefit seems like a fantastic opportunity to score a triumph.
The unfortunate reality, however, is that you will lose. But don’t let that shake your confidence. If you can stay in the game, you will also win! But doesn’t that sound like gambling? Well, sure, but you will learn important lessons along the way.
So here’s the “secret,” get your feet wet! Get started and play smart. Don’t go out and mortgage your house, start small. If you are in too big of a rush, you will lose. So make sure you lose small (because you will). And when you win, make sure it’s a little bigger than the times you lost.
Good luck and happy trading!