Author and personal finance coach, Usiere Uko writes on determining the best time to invest
Every educated investor has an entry and
exit strategy. They determine upfront when to go in and when to exit.
When you have a clear plan, it is easy to become focused rather than be
swayed by emotions and sentiments. You don’t make up your mind in the
thick of action. You do that before action starts. I often get irritated
when the driver in front of me takes forever to make up his mind at the
junction whether to go straight or make a turn. It is unfair to other
road users when you cause a traffic jam while trying to decide which
direction to turn. The effect is the same when you try to invest without
a plan. The plan does not have to be complicated in order to be a plan.
The simpler it is, the easier to follow.
The need for an entry and exit strategy becomes more glaring when you trade in online forex market. The action is so fast-paced that if you do not make up your mind upfront what your strategy is going to be, you can lose a lot of money before you know what hit you.
Emotions are part of what make us human. Some emotions like fear can cripple us if we let them. The predominant emotion
