This is why skin in the game mattersOct 19, 2019
Due to loss aversion, we tend to feel losses at least twice as keenly as we enjoy gains.
Mastering emotions ad the ups and down of market cycles is all part of what makes for successful investing.
For this reason, while it is smart to back-test strategies and understand historic results, learning theory can only ever get you so far.
At some point you need to have some skin in the game rather than paper-trading or making theoretical investments.
As with many things in life, the most effective way to learn is by doing (although if you can start with low-risk investments this is likely to be smart).
I discussed this a little further in the short video here
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- Boom or Bust in 2021 – 20 minute online workshop for investors
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- Work with me privately
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