Falling STI soon? How will you feel?
- Evaluate your tolerance for losses, i.e. test your threshold for loss and panicking when things go wrong so that you are at least self-aware
- Diversify, so that you realize not all stocks fall at same speed, surprising some may even rise.
- Focus at your future, looking at much longer term goals and strategies so that you are less likely to feel depress when it gets really bad.
- Try to reframe your losses as you cannot change the past, but you can think it differently.
- Be mentally prepared.
Hope the nightmare in Sep/Oct 2008 will not repeat. Cheers!
Good that we can post comments now.
ReplyDeleteJust want to say that you have very good articles put up on property investing and personal finance. I enjoy reading them ! Keep up the good work, thank you.