Self-knowledge is essential to succeed in investing in any type of investment opportunity. To succeed in any venture at all, you must have this knowledge. Self-knowledge is the most deficient knowledge humans in-general fail to seek because of the illusion of knowing by just being alive. Just because you have been breathing in air for decades doesn’t automatically mean you know the composition of the gases that make up that air you breathe. if you don intentionally find out, your life will continue, oblivious to that knowledge.

Like the air you breath, just because you are alive does not necessarily guarantee you know yourself deeply. You may know some basic information like your name, where you live, what you like and don’t like.etc. but you may lack the insight into your own character, abilities, feelings or motivation. Unlike the air you breathe, not knowing or having this self-knowledge that truly matters will limit you in life and in investment.

The first step into being a successful investor is to know yourself. Self-mastery is important because it can determine what type of investment vehicle will align with you which can also determine the return of investment.
For example: are you a risk taker or do you like to play safe?
Are you patient enough to prefer a long-term investment strategy or do you lack it and thus default to short term investment?
Are you bolding enough to stand on your decision even when it appears it is not favorable to you in the short run or are you easily persuaded to follow the crowd in doing what is popular?
How do you react to financial loss or unfavorable circumstances? Are you emotionally stable, resiliently resourceful, bouncing back, getting back up when you experience loss or do you breakdown emotionally, blame everything and everyone around you and want to give up?
Are you open minded, eager to learn and try new things even if there might be some risk involved or do you just want things the way they are or hate taking actions on things you can’t fully control?

Your psyche and understanding also plays a major part like do you think there is a quick way to make money or do you believe that making money is a process that takes time and corresponding effort? What do you think money is? Are you driven by it? Does it change your behavior when you have it or lack it? because understanding your metal state will control your actions which will correspond control where you invest, what you invest in, your investment strategies, your expectations, your satisfaction or the lack of it and the overall investment outcomes be it either short term or long.
This knowledge will really help you gain perspective and help us know what strategy we can use to guide you to achieve the best outcome for your investment’s goals.
Investing isn’t for everyone. Click here to see why