I was checking my Blogger account and I was able to get a glimpse of an old post(In my starting days as a blogger excuse my wrong grammars and misspellings) that talks about two things that you and I must avoid.
Click here to read my blog post.
Greed as define by Dictionary.reference.com means
excessive or rapacious desire, especially for wealth or possessions.As a stock investor I know your goal is to be financially free but be on your guard.
As we always mentioned "moderate your greed."
It creeps on us once in awhile . The stock price is starting to go north and you have been thinking to sell it once it hits 20% profit. But after a day it hits 32% and as you are watching it still rises. At some point in that you tend to forget that your plan is to sell the stock and pocket your gains but the continuous uptrend of the stock stops you from doing so. That feeling of you telling yourself "more more more!" might be that greed starting to grow within.
I am not saying that it is bad but when you have a goal and because of the continuous rise keeps you from doing as plan because you want more that is greed. So pocket your gains as much as you can. Dont let your greed overtake you.
When there is greed I believe there is also envy.
Envy simply means you a feeling of discontent and resentment aroused by and in conjunction with desire for the possessions or qualities of another. When you see others saying that there stock went up 45% isn't it you also desire your portfolio is the same.
Now is that envy? I don't think so yet. Desiring to be a better person or have a better portfolio is also not bad at all but when you feel that you are nothing and the other person is better and you start to want to be that person I guess that is envy.
As a person one should have his or her own standard and not somebody else standard. That is miserable because no matter what you do you yourself brand yourself as second class good for nothing. That is depressing and worse is you don't do something to get your confidence back and start setting your own definition of success.
Success is not that you can buy the same Lambourghini your rich neighbor has rather success is the point where you are content of what you have achieve on the standards you have set.
People nowadays are lost because they don't have a clear picture of their success because they don't have a standard of their own in the first place.
Make it a point today to write down what you want in your life. Review them and make them your standard. And from their it will be success every time you achieve even one only.