Can you share how to manage my psychology during such times?
-> Below is my sharing about keeping the mindset when the market is on fire 🔥.
Jack Morges, the founder of the S&P 500 fund in the U.S., has a very nice saying. When the market decreases and is on fire, his stomach tightens and aches with each pang. And the way he overcomes this is by seeking out books about market psychology and long-term investing to read in order to understand and get through this phase.
I am similar; during this time, most people are panicking, but I am not? Why? Because I often listen to books about financial investment, about market rules, and I understand that large profits often arise in a Bear market rather than a Bull market. Therefore, this is an extremely favorable time to buy in. But not everyone is the same; each person has a different position and perspective, leading to different behaviors and outcomes even though two people apply the same method 🤔.
P/S: Reading many books about market psychology helps me confidently navigate through the Bear market without a hint of fear or panic; on the contrary, I see opportunities opening up just like how we often think about the sharks 🦈 and whales 🐋 in the market💹.
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