Financial Investing Radio

Over the years I have seen long term investors, day traders, and everyone in between make money, and lose money. What are the key elements that separate the winners and those that take a loss? Before I get to the list of 5 (kind of sounds like the Magnificent 7)...we must first have this NON-NEGOTIABLE list of 3. 1. Discipline 2. The Ability to Take a Loss 3. Mindset In fact, with out these first three, you should not be investing or trading. Get some mentoring on these before you get into the technical details. 1. Discipline This is crucial...it requires an investing plan with a set of rules and the discipline to invest or trade the plan. But this is generally where human weakness or emotion enters and despite all the good intentions of a plan; it falls to the wayside. 2. The Ability to Take a Loss This one is closely related to Discipline. But, because it is so important I have separated it. It is the hurdle to cross when you are working so hard to protect your capital that it results in taking bad losses.