Stock School Video 7: Remember to be consistent when investing

Lars Tvede gives you tips in the Euroinvestor Stock School to improve your investor skills. Part seven is about being honest to your strategy, and identifying good and bad decisions. Lars Tvede highlights the most important errors.

"We use mental boxes, and treat each investment as separate"

  • We try to make money on each trade instead of optimizing the portfolio as a whole.
  • We close our long-term investments after one week if they have a profit and keep the short-term investments if they make any losses.
  • If we have losses on short term investments, we re-name them to "long-term investments".
  • We throw good money after poor investments, and double down to "improve our average buy price" in a declining trend.
  • We hide our losses with related investments instead of cutting losses.
  • We treat each investment isolated and stubbornly keep a loss giving position in hope of a possible positive return.
  • When things turn bad, we focus on how we can trade losses in the existing portfolio to a profit, instead of focusing on what the future optimal portfolio would be.

 

Learn more about investing
You can buy book The Psychology of Finance, by Lars Tvede here

Or see the latest book by Lars Tvede: Super Trends - Winning Investment Strategies for the Coming Decades

 

Click to see more videos from  Euroinvestor Stock School

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