The first and most important thing to keep in mind is discipline. Both buying or selling that is done based on emotional reasons is likely to cost you. I know of no successful investor who has had long-term success without having discipline. Rather than encourage readers to buy or sell their investments based on the events of Tuesday, September 11 then - or the current economic freefall now - I encourage people to use discipline in their approach.
Secondly, approach the markets with a clear mind. This is going to be difficult for all of us, but thinking clearly is an absolute must. Modifying your portfolio with a clouded mind puts you in a vulnerable state. The fact that there is this emotional susceptibility is going to create chaos on both sides of the financial markets. Do not let this emotion interfere with your thinking when it comes to financial matters.
The third trait of successful investors that I find critical is flexibility. One should not approach any volatile situation without backup plans. You should be adaptable in your approach to the markets. Things are going to change rapidly and the sentiment is going to have wild swings. Do not become rigid in your approach.
This may seem like hard advice to take, but now is not the time to panic. There is enough panic selling going on already. In fact, those that remain calm during this financial crisis will be the winners in the end.
Beyond the advice above, there are other things you can do to get through this fiasco.
First, seek the advice of a seasoned professional to help guide you through this turbulence. As oversold as the market is, it is hard to recommend shorting it, and at the same time, it is hard to recommend going long with the market getting crushed every day.
Second, there are other investment arenas besides the stock market. With the free-fall going on with real estate right now, there are bargains galore at this point in time. You should consider doing some bargain hunting in the real estate market. One person has made $30,000+ in recent months using a turnkey, online program that requires no risk and a very small investment.
Third, the financial crisis has hit most businesses hard. Yet Internet information businesses continue to grow. These businesses may even see more growth as consumers seek more information and seek to improve their financial lot because of the financial crisis. You may want to capitalize on this opportunity by looking at launching an online business. I encourage you to get out there. If you are not "online" already, think about attending our next live webcast at 7pm-Central on Tues or Wed at http://www.fastbuyerloans.com, where you can learn how to build your own profitable Home Seller Assist income stream.
Bottom line: Rather than panicking at this point with your investments, look beyond the present and figure out how to make your financial position better five or ten years from now.
Larry Potter
fastbuyerloans@gmail.com
847-872-4047
http://www.myspace.com/homebusinessnow
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