Everyone knows that to succeed as an investor or trader you must buy low and sell high. As simple as this concept is, the actual act of doing so is almost impossible. That is unless you are prepared (i.e. pre-programmed) to buy at low prices, or to sell at irrationally high prices. Behaviorists suggest that we are pre-wired to avoid pain and to pursue pleasure. Unfortunately, these instincts can work against you in the financial markets. It’s painful and unpleasant when prices are low and declining even further. It’s euphoric when markets are climbing beyond rational levels of value. The following 10 traits of successful investors may help improve your odds whenever the urge to buy or sell occurs. Trait #1. The ability to buy stocks when everyone else is panicking, and sell stocks while others are overly optimistic. Mark Sellers told a graduating class of Harvard MBA’s that the ability to succeed as an investor has nothing to do with I.Q. or education. ...
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