During this time of intense market turmoil, I believe many investors are trapped in at least 50% of their positions. Those who still have holding power might be less panicky but still, none of us can be completely Scott-free from the devastating blows. Other investors are probably in the state of anomie where they can’t sell, buy or even hold if they have invested their emergency funds. Nevertheless, life has to go on and we are still subjected to our usual responsibilities and stress. In that case, how are we supposed to continue performing at near optimal levels and not waste our life mulling over the uncontrollable state of the market? In this week’s post, I would like to share a few suggestions on how we can outplay the market by staying positive and opportunistic even during the worst times.
Take time for yourself to recharge
This is actually very important because, at this point when the market is literally nose-diving, we can only do so little to minimize our negative emotions. Therefore, it will be wise to use our time to spend time on ourselves knowing that it is probably the few moments in life when being conscientious is pointless. Especially when parts of the world are facing way worse consequences, I believe practicing self-care can be considered necessary to ensure that when the market rebound, we will be ready to step back into the fray and continue our mission as awesome money managers.
Spend more time with family and loved ones
During good times, gains from the market might have momentarily changed your view on money. In fact, I think that when the market is good, we often feel conflicted as well but that’s for another day of ranting. Presently, most of our sources of unwavering support will probably come from our families and loved ones. Take some time off from your usual chat groups about investing and enjoy some time off and re-establish some of the estranged relationships to remind ourselves about the true purpose of investing. That is, to enrich lives by providing support and opportunities to those around you.
Evaluate your strategies and reward yourself accordingly
Do not blame yourself for not knowing what is coming or when something bad happens. Investing is no different from the real world out there, there will be unexpected triggers that will threaten not just your wealth but also your very existence. The fact that you are still in control of the situation despite the market going bogus is an achievement in itself. Take some time to evaluate your strategies by measuring how much losses were mitigated and how your income has remained stable even when the market is flipped to an unrecognizable state.
Closing Thoughts
There is no better time than now when we are supposed to sit tight and minimize impulsive actions. The fear of our counters staying low forever is unfounded and if it does happen, money will no longer be the real serious issue anymore. The market is eventually going to face a wave of optimism but the problem every time is that the timeline is never certain. Until then, we will be tested daily on our resolve and grit to stay as an investor.
