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Avoid Stock Market Itch, Do More Useful Thing!
By Denis Kristanda of Clamnote International
If you or your friend have just started to invest in stock market, probably you will be familiar with what I call "Stock Market Itch" The phenomenon is that he/she will check the price or the index from the stock market every 15 minutes or hourly or twice a day or worse stare non stop to the price chart to see it moving. Looks familiar ? Somethings that they might forget:
o Nothing that you can do that will change the price movement (unless you are 2x more rich than Warren Buffet)
o If the price move contrary with your hope, it gives unnecessarily additional anxiety that you don't need.
o If the price move on your direction, it gives you some false urge to "do something" (like taking profit early) that is not good for you.
o You can do that 1 minute or 2 minutes into something that is more useful. In my opinion, such behavior is mainly caused by fear of losing money. Well, if you don't know the nature of the market (i.e: how actually a price can move) then probably you should not invest in one. How to avoid such "itchiness" ?
1. Have a concise trading plan: you know when and how you will exit, i.e: sell your trade. Have a goal.
2. Check the price based on your plan on specified time only, i,e: daily in the morning before breakfast.
3. See the price movement as percentage not the dollar value. "$1 down" might be scary, but "0.3% down" is much more calmer isn;t it ?
4. Have some "investing buddy" to discuss your fear or strategy |
How The Price Moves in the Market
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