The difference between winners and losers

Whether you are new to investing or have done it for years you will soon learn that 90% of the success in investing resides in your head.

Like anything in life that is worthwhile, it takes perseverance and skill to master the art of investing successfully. There is no place for immature behaviour in successful investing. Robert Deel in his book Trading the Plan, highlights the differences between winners and losers, and I want to share them with you.

  1. Winners learn from their mistakes. Losers don’t.
  2. Winners don’t blame anybody else for losing. Losers blame everybody but themselves.
  3. Winners take calculated risks. Losers just take risks.
  4. Winners learn to control their emotions. Losers have little or no control.
  5. Winners are always learning and improving. Losers don’t have the time.
  6. Winners follow a set of rules. Losers don’t have any rules to follow.
  7. Winners use their strengths and minimize their weaknesses. Losers don’t address weaknesses.
  8. Winners develop a plan to succeed. Losers don’t have a plan to develop.
  9. Winners diversify the risk. Losers put all their eggs in one basket.

All of the investment selection and strategy in the world won’t make any difference if you can’t control emotionally driven decisions. Your ego and any self-destructive behaviour must be recognised and addressed. If you look in the mirror, recognise your weaknesses and start working on them.

Everything is possible, you create your own limits.

See you soon.


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