Sometimes we make poor decisions regarding our investments. That`s because we keep making the same mistakes: Involving our emotions.
Here are some of the most common mistakes we make:
- Greed: Many people can resist temptation that`s why is important to have a different account for investments.
- Pride: we tend to let pride of ownership inflate the value of our investments. Like happens to parents everyone thinks that his or her baby is the prettiest but that is not always the case.
- Lust: we tend to jump right in when we hear some news, but maybe is better not to react so fast because we may save time and dollars.
- Envy: The tendency to want what other investors have can lead you to chase stocks or mutual funds with the biggest recent returns, but that can be a losing strategy.
- Anger: The most damaging mistake we can make is to make investment decision because we are angry. You better focus on your portfolio`s goals better than individual investments.
- Sloth: You always need to look your investments from scratch, it doesn`t matter if you don`t like something. It`s a matter of intelletual evaluation.
The best advise you can receive is to know what you are doing, don`t trade or invest personally do it like any other job with no emotion.
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