Market strategy often sounds ridiculous.
Take impedimenting for example.
You put impediments in your own path.
Because we are human. We are full of behavioural quirks which invariably cause market losses.
That’s why impediments.
In your path?
Why in your path?
Who are these impediments meant for?
They are speed-breakers for your quirks.
Because your quirks are inside of you, the breakers are in your path, put by you, not for yourself, but for your quirks, when these choose to expose themselves.
1). One example – money transfer before market entry – there’s no beneficiary added. Ha. You need to add the beneficiary first and wait for it to be approved. Then you transfer money to your other account, which is linked to your transaction account. Impediments.
Why have you done this? You don’t wish to enter anything on a whim. Whenever money moves, it’s movement should not be made easy. You’ve seen to it. Good.
2). Example numero two – Calls Blacklist. Make it very difficult for market people to speak to you if you don’t wish to speak to them. Why? Bias. You don’t want their bias. You have limited time. You have your own opinion. Many times during market-play, there’s no room for another opinion.
3). Doing the DD (due diligence) – don’t act without DD. Make the DD huge. Have steps and procedures which you are going to follow – period. When you shudder at the idea of DD, that’s when DD becomes an impediment. You want the upcoming DD to make you shudder. You don’t wish to enter the underlying on a whim, remember?
4). Don’t discuss your portfolio – with anyone. YOU DON’T WANT ANYONE’S BIAS. You are mentally diligent enough to build your own opinion. People asking for causal tips are going to bother you. You need to impediment your way away from these.
5). Systems – make systems. Stick to them. They cost time. They are impedimenting. Good. While a system engulfs you, it gets the chance to scour your approach for mistakes. Your system will alert you, so it’s been worth it.
6). Blockage – new funds are to be blocked for a while. Don’t act with new funds immediately. Give yourself ample time to decide your strategy with new funds. Pickle them away in a fixed deposit till you are sure what you want to do with them.
Make your own list. Above are just examples, and yeah, there’s more, but double yeah, make your own list.
Working with self-made speed-breakers to enhance your performance makes you grow.
Your returns grow too.