Maybe you remember Jeff Foxworthy’s famous, “You might be a redneck” comedy from a few years ago. An article from Dough Roller suggests using that same voice in the statement, “You might be a bad investor if…”
What Makes a Bad Investor?
Dough Roller lists several practices that can work against you causing you to fail in your investing. Knowing what they are can help you remedy the problem and become a more successful investor.
1. Going After Popular Investments
Investing in what you hear about on the news usually means, “you’ve missed the boat on a highly-lucrative stock. By the time it generates public buzz, the ship has sailed.”
2. Buying High and Selling Low
People get excited when the market is doing great and want to buy. When it crashes, they get worried and want out. To be a good investor, you’ll do just the opposite: Buy when everyone is panicking and sell when others are fired up and buying.
3. Not Investing Long-Term
“As Warren Buffet famously said, ‘If you aren’t willing to own a stock for 10 years, don’t even think about owning it for 10 minutes.’ Successful investing is a long process.”
Related Warren Buffet article.
4. Obsessively Checking Your Portfolio
Do you check your portfolio daily, weekly or hourly? Dough Roller says, “The market will naturally ebb and flow and watching the dollars creep in either direction will only serve to drive you nuts.”
The article suggests checking your portfolio only a couple of times a year. As long as you’re not obsessively checking, going gray over its movements, or getting emotional about your investments, find what works best for you.
5. Being Too Emotional In Your Investing
Many things cause volatility in the market. You will see your portfolio drop and grow. “You have to be able to stay strong through it all. If you can’t hold your portfolio steady when you are losing money—even if it’s really, really, really bad—you are a bad investor.”
The Remedy For The Bad Investor
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AI allows the automated trading software to buy, sell or hold stocks in your portfolio to preserve, protect and grow your wealth. Because algorithmic trading software relies on mathematical tools to analyze your portfolio daily, it removes the emotional factor from your investing.
Analyzing your portfolio daily with automated trading software, AI won’t buy high and sell low. Your investment will experience lower losses. Then, the saved wealth can grow more.
iFlip isn’t a get-rich-quick scheme, so you can follow Warren Buffet’s advice and invest for the long-term. The best algorithmic trading software, using AI, is designed to manage your risk when the market is volatile. AI doesn’t beat the market every year, but it will grow your wealth over time.
Mobile Stock Trading App
Do you want to check on your portfolio or add to your trade? iFlip offers the best mobile stock app, which also uses AI. It puts the ease of investing in the palm of your hand.
You don’t want to be a bad investor. See how AI can trade for you on iFlip’s mobile stock app or on your desktop by watching this three-minute video.
To learn even more, hop over to iFlip. Still have questions? iFlip has 24/7 customer support with quick response times.