Kenneth Ewoigbe
Motivational Speaker, Business Entrepreneur/Developer,
Webmaster, Internet Entrepreneur, Manpower Developer,
Human Capacity Developer,
Systems Consultant, Content Writer,
Fashion/Car Enthusiast
Motivational Speaker, Business Entrepreneur/Developer,
Webmaster, Internet Entrepreneur, Manpower Developer,
Human Capacity Developer,
Systems Consultant, Content Writer,
Fashion/Car Enthusiast
"If you can count your money, you don't have a billion dollars."
- J. Paul Getty
When it comes to investing, I prefer the 'sniper'
approach as opposed to the 'machine-gun' approach.
A sniper is a highly trained marksman who targets
from concealed positions or distances exceeding
the detection capabilities of enemy personnel.
One of the key secrets of a successful sniper is
patience, good mastery of their weapon and self-
control. A sniper can remain in the same position
for hours or days if need be to achieve his
objective.
On the other hand, 'machine-gunners' blaze in.
They shoot sporadically at everything in sight, waste ammunition,
sometimes fail in the mission and get killed in the process.
When it comes to investing, you do not want to
be a 'machine-gunner'. Be a sniper.
A business tycoon, in his early days in business started learning to trade Forex online. He
"...took the 'machine-gun' approach quite stupidly." he said.
He continued, "Ï refused to sleep for days and was constantly
in and out of trades with 'cannon-type' position
sizes and two things happened quite naturally:
1. I ran out of ammo. (I quickly emptied $6,500 plus -very quickly I must confess!)
2. I killed my investment portfolio and ran it into negatives on my accounts."
1. I ran out of ammo. (I quickly emptied $6,500 plus -very quickly I must confess!)
2. I killed my investment portfolio and ran it into negatives on my accounts."
You see, although he must have used the 'Sniper'
strategy long before he started trading forex,
without knowing it, he never really understood
it this way until I started trading forex.
To be 'sniper', you must first create a set of
rules which will be your operating guidelines.
What's the point in planning to make a lot of money if you have no plan for keeping at least some of the money?
I have made this mistake many times. And I don't
want you to make the same mistake, that is
why you should create a set of rules to guide
you.
Here is a guide for creating your rules. Rules
will differ from person to person based on
your age, education, religious orientation,
personality traits etc
For instance there are people who can loose
15,000 in a deal and sleep soundly. There are
yet others who will have a near nervous
break-down if they were to loose 5,000.
Tomorrow, I shall break down different rules on which you can identify with at least one which you can run with. But until then, ponder on these, digest them or meditate on them; and if you like my articles, share my link, refer people to benefit from my blog. Share share share!!!
Until then, I say unto you my good friend. Bye bye!!
