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How To Become A Better Investor By Dennis Loos

Better investing doesn’t happen accidentally. Good investors consistently work at it; they study and learn. Learning is limitless; however, not all knowledge will apply to what you are doing. Investment involves various ways to learn; this includes reading, enrolling in courses, and joining a team of like minds; iron sharpens iron, so they say. Most popularly, one very excellent way to learn to become a great investor aside from constant practice is by walking closely with great investors like Dennis Loos (Mentee- Mentorship relationship). one important thing to remember is that on your way to becoming a better investor, your learning is continuous. Once you start learning, never stop.

Dennis Loos

Below are unusual but effective ways to become a better investor

Watch More Star Trek

Several of us grew up watching Star Trek. One of the notable characters is Spock, a Vulcan who, unlike humans, is logical to a fault. Try to pay more attention to his personality the next time you watch Star Trek. You will learn a lot by watching his excellent, unemotional character and how he makes rational decisions amidst great stress.

The old economic theory was of the impression that humans were like Spock, always making rational decisions that would lead to maximizing wealth. The newer field of ​behavioral finance tells us otherwise. To be a better investor, study behavioral finance, and watch more Star Trek.

Eugene Fama is a renowned academic in the field of finance. he  once highlighted, “Your money is like soap. The more you handle it, the less you have.” expert investors like Dennis Loos have also supported this

Moving money entails transaction costs and sometimes tax consequences, and you may often make that move at the wrong time. This is evidenced by the fact that year after year, research reveals that average investors underperform the market because of poor timing. Not to fall into that same pit as the average investor and to fare better than the average investor, you have to conduct thorough research before you make money so that when you move money, it would be part of a well-designed investment plan, not a last-minute reaction that is influenced by the short term volatility of the market.

Learn the Term “Dollar Cost Averaging”

Dollar-cost averaging reduces market risk by automatically investing a fixed amount of money at regular intervals. This forces you to buy more crypto coins when the market is down and buy less when it is up. You can also join the savvy savers who automate their savings plans and let them run for years and years at a time. Be an intelligent saver; if you don’t already do this, begin dollar-cost averaging today.

If You Can’t Handle the Heat, Avoid Fire.

“Cryptos are not for everyone; crypto is for hardworking visioners who are patient and are ready to learn” these are the words of Dennis Loos on how to manage the volatility of the crypto market. There are several other sectors you can build a solid financial plan using only guaranteed, safe investments. However,  If you don’t understand the crypto market or blockchain, you probably best avoid these investments altogether until you learn more. If you know but get too nervous, stay out of the market. You must be patient and intelligent, knowing when to take profit and what news to react to.

Read the Turtle and the Hare

Your friend tripled his money because he bought the right coin at the right time. Will you say your friend was wise… or lucky?

This is up to you to decide, but following lessons from expert investor Dennis Loos, your friend was clever but not lucky; he took a risk. Would you have considered him unlucky if the crypto asset never increased? Slow and steady portfolio increase with a disciplined plan delivers excellent results, similar to the Turtle, who steadily plods along. Don’t take a hasty unplanned decision; at the same time, shy away from the risk of trying; you have to create a balance; you can’t bet on luck or skill, and it may turn out as you expect, or you may get an unpleasant shock.

Get Comfortable Withholding Your Cash

Many people believe that money sitting in cash or money market accounts is wasting away, well I say that you think again. understand the step to take at every point in your investment journey, holding your cash can be a great way to store money and prevent you from losing it all. Spend quality time researching, studying, and making intelligent decisions.

People with cash can significantly seize great investment opportunities when the market dips. In contrast, fully invested people don’t have those same opportunities. Dennis Loos always empathized that you don’t invest any money you’re not willing to lose, especially as an early-day investor.

Know What You Own

Crypto assets and projects are on different levels; you shouldn’t just invest in just any project because it is in the crypto market. Know what you own, understand where you put your money, and your reason for believing in the project. Never invest your money in a crypto project that you don’t understand. never forget this rule; know what you own

Utilize Social Media, Not Just Websites

The internet is broad and lovely. The amount of information on the internet is astonishing, and, at times, it can be overwhelming. However, you should know how to utilize it properly to get your needed knowledge. Asides from reading from websites, pay attention to social media platforms, especially Twitter. This would expose you to experienced investors that you can learn directly from their tweets. Also, you will get updated news on the crypto market. Therefore you should take advantage of the social media platform; you should understand that getting “Twitter education” from investors may improve your chances of higher returns. Commit yourself to learning first, and you’ll become better at investing. You can connect with Dennis Loos on Instagram to learn better about crypto investment.

Study Your Shopping Habits

Can you recall when the last time you went to the mall, saw something you wanted that was on sale at half of the price, and thought, “No, I am predicting the price might reduce more? let me not buy it now but wait for it to reduce more.” this decision is dicey, so it a crypto investment, it might in your favor or otherwise. When the crypto price drops substantially, your future financial goals should not be on sale. You should know when to take profit off your investment. Better investing implies acquiring the knowledge and discipline to recognize when to buy and sell.

Remember, They Do Not Know You

Who do I refer to as “they?” well, this is everyone (including me) Nobody knows you; they don’t know what your intentions and desire are, nor do they know your situation. We are offering advice that applies to a broad population. I am not aware whether it applies to you or not, I don’t know, and neither do “they.” even Dennis Loos cant tell. Only you know, and perhaps your financial advisor if you have one. only your financial advisor and you can determine if the advice applies to your situation. this conclusively imply that you should  not copy anyone blindly, understand your finances, your limit, and your risk tolerance before you invest.

To read more of Dennis Loos visit following blogs.

John Paul
John Paul
John is a full-time blogger and loves to write on gadgets, search engine trends, web designing & development, social media, new technologies, and entrepreneurship. You may connect with him on Facebook, Twittter and LinkedIn.

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