You are unique.
Are we still debating this?
If we are, then sit yourself down.
Please see how you are… unique, and that you are… unique.
Moving on, what does that mean for you?
Specifically, what does it mean for your market strategy?
A newbie starts off with very generalized market strategies.
What’s good for the goose, is good for the gander types.
Ones that treat donkeys and horses alike, to literally translate from Hindi.
Slowly but surely, you realize that you don’t want donkey treatment anymore. Mrs. Market has kicked you around and converted you from a donkey into an intelligent market player.
An intelligent market player requires a fine-tuned, risk-profile specific strategy.
That’s where you either step in or you don’t.
Choice is, as they say, now yours.
Do you want to continue with generalized, text-book level donkey strategies, or do you want to spiral up to the level of exclusive strategy tailoring and fine-tuning.
People who approach the market as a secondary or tertiary activity don’t generally spiral up. Most of them are unhappy with their returns, but since they already have primary (and probably successful) professions going for themselves, they choose to remain where they are as far as the markets are concerned, and they don’t aspire to rise any higher.
You see, they don’t have the time to take this spiral plunge.
Now it’s decision time for you, buddy.
Do you wish to remain at the average donkey level all your life as far as the markets are concerned? If not, read on.
You need to spend some alone-time, as long as it takes.
Go over all your market activity till date.
Develop a feel for your risk-taking ability.
What bothers you? What do you like? What kind of a “line” are you capable of stomaching? For how long? How do you react to a loss? To a profit? Are you emotionally stable? Can you remain stable for long? How long? What gets you on tilt? Once you make a rule for yourself, are you able to follow it? Or, do you keep second-guessing yourself? What kind on income are you looking for from the markets? Have you learnt to sit on cash? Can you stay invested for long periods? Can you let your profits run? Do you respect your stop? Do you know what a stop is? Do you know how to manage a trade? Have you fully understood basic money-management? After what level of income do you start functioning smoothly?
Etcetera, etcetera, etcetera.
Ask yourself these and many more such questions.
Let the answers come from within.
Listen to those answers.
Understand who you are.
Then, devise a unique and fine-tuned market strategy for yourself.
Keep working on this strategy, fine-tuning it till it is in tandem with your unique self.
At that point, it will become a successful strategy, and will yield above-average results.
Being above-average in the markets is a winning scenario.