Could I Become a Successful Stock Market Investor?
Your job as an investor is to do follow the lead of out example. You are looking to buy shares in businesses whose future profits are selling at a cheap price today.
You do not need to be especially clever to invest successfully.
You do need to be disciplined. Your head must rule your heart. There can be no place for emotion in your buy and sell decisions.
You must use objective criteria to make your decisions. You should not rely on what investment gurus say.
Successful investing is not about being right. Everyone buys stocks whose price falls. Many wealthy investors freely admit half of their stock purchases are bad buys. How can that possibly be? Surely if half of your buys are bad decisions, then the most you can hope to do is break even? Well, no. Provided your "good buys" rise by more than your "bad buys" fall, you can become wealthy picking the right stocks only half the time.
Successful investors understand basic chance / probability. They understand their success depends more on how they deal with their mistakes than on being right every time - which is impossible anyway. Winners use investment strategies that restrict their losses while allowing unrestricted gains.