Building Stock Market Skills
I was cleaning my closets recently and I came across my violin on the top shelf. For more than 14 years I played the violin, from the age of 4 till I went to college at 18. I practiced for a hour a day, 5-6 days a week. In my later years, I would go on to play in numerous orchestras and even travel across the US and to Sweden to perform in front of audiences of all sizes. Suffice it to say, I am proud of what I accomplished. Keep reading though to see how this story relates to building stock market skills.
In life, most of us are accustomed to being good at what we do. Along the way, we forget that learning something new is HARD; especially at the beginning when we are likely to struggle and make mistakes. The reality is, the only way to learn something new is to practice. Studies have shown that it takes somewhere between 2 to 3 months to build a new habit. Some have even suggested it takes 10,000 hours to become an expert at something. Yet, practicing can be difficult and painful, especially when we are used to being good.
Knowing the importance of practice, how do we take on the challenge and make ourselves better? Here are some thoughts:
- Acknowledge the Task
- Narrow the Scope
- Set Aside Time
- Leverage Tools and Materials
- Find Accountability Partners
- Consider Coaching
With the stock market, practice is the only way to become proficient. Commitment to practice is essential and coaching accelerates results. With all of our clients, we progress through a program that spans several months. Sure, we could dump a bucket of knowledge on you over a 3-day class, but we have found that most people cannot retain and use this much information. Instead, we work with YOU, over many months, to establish the habit and skills to invest and trade in the stock market. We use a stock market simulator to build your confidence so you know the what, where, when, and why of everything you do in the stock market.
Have YOU been approaching the stock market the right way? Are you building stock market skills? Set up your free consultation and we will get YOU from where you are now to where YOU want to be.
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