Take time to get better at trading and investing

It’s likely that you might be making some investment resolutions this holiday. But the important thing is to take the time to ensure you develop a plan to implement them. Otherwise, like most new year’s resolutions, they won’t bear fruit.

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Another year has rushed past. I’m not sure about you, but I am feeling old after this one.Truthfully, the local market did all right, when we take dividends into account, but I still feel battered and bruised. Fortunately, I have some time to rest over the year-end holiday. If you do too, this is a good time to review your investment and trading strategies and make resolutions for 2020.

Firstly, a point on new year’s resolutions. Typically, any resolutions we set at the start of a new year are forgotten within a month or two, and there are a few reasons for this. We make grand resolutions that sound great, but we put no plan in place to actually implement them. Furthermore, our resolutions are wishes, rather than actual practical ideas.

So, you need to make sure that you now not only have the resolution, but that you have a plan in place to support it; in other words, a set of small steps that ensures you can keep to your resolutions.