November 6, 2013

Things you can do to get your mind off the stock market

If you are really interested in stocks, a common bad habit is to stare at your stocks while you press the refresh button to see if something has happened the last 5 seconds since you pressed the same refresh button. Now this is a complete waste of time, but it's also a common bad habit. The famous investor, Peter Lynch, wrote in the book One Up On Wall Street how he had to throw out his quote machine because he thought it was too exciting to stare at if his favorite stocks were up or down. So this is a collection of what you can do instead of pressing the refresh button while you at the same time make more money.
  1. Learn something new by watching a lecture or a documentary. See here where you can find them: Top 5 media websites where you can learn something new
  2. Start a blog and write down your knowledge, try to make money from ads
  3. Take a walk and search for popular companies you can invest in. Peter Lynch always walked through the galleria to find popular stores he could invest in. If you have kids, go though their rooms and see if they have bought something popular, like the iPod a few years ago. Peter Lynch's children bought iPods, but he didn't invest in Apple
  4. Update your knowledge about your favorite investments. Search through Twitter and see what people are writing about your companies. Are they positive or negative? When you are finished, do everything else on this list: How to use the Internet to analyze stocks     
  5. Read a new book about stocks. Begin here: 5 must read books about stocks
  6. Visit our main site, Trejdify, and read a new popular article. We have no stock quotes on the site so you don't have to worry about if the stock market is up or down
  7. Find a piece of paper and write down why you should sell your investments. It's otherwise common to only read about why we are right and not wrong. If we are positive to gold, then we only read articles why gold should move up. It's better to read why gold should move down
  8. Find another way to make money. Stocks and a common job is not the only way to make money. Can you write a book? Can you start a website?
  9. Go to the newspaper store and buy all the psychology magazines. The trader Richard Dennis stayed in bed as long as possible, until the last minute before the trading began. The only magazine he read was Psychology Today

If you have any more suggestion you would like to add to this list, please leave a comment!