If you have lived in India, you must be familiar with the festivities, celebration and ritual worship associated with Navratri. Navratri means 9-nights, and each day underlines the various attributes of the goddess. According to the legend, Navratri celebrates the victory of good over evil, where goddess Durga engaged in a great battle with the demon Mahishashura, and emerged victorious. Navratri is celebrated before Diwali – the festival of lights. People all over the country, especially in Northern India celebrate Navratri – the ultimate victory of good over evil – with remarkable enthusiasm and fervour. Navratri ushers in the festive season, where customers throng the market for shopping. Festivals also indicate renewal – they are a moment for us to step back and think about what we want to do next – a moment for us to make resolutions to learn, grow and move forward with a renewed vigour and zest. You must remember that this is a great time to learn three qualities – from women investors – to become a successful investor. Celebrate the colours of Navratri with the (stock) markets and start the journey to fulfil your financial and aspirational goals. Here is a look at the three most important qualities you must imbibe:
Market diligence: Many women investors have built a formidable reputation for themselves as successful traders, in an otherwise male-dominated space. You must be wondering about their secret for success. It is nothing but due market diligence. With market diligence, these women investors consistently studied the market, and extracted profuse insights from their trading experience.
Having due market diligence means that as an individual investor, you must have an investment strategy to meet your manifold financial goals – from retirement planning to having funds for planned expenditures, and from wealth generation to creation of assets. You must also consider three vital factors before starting your investment journey. These are: creating an investment strategy based on your individual financial goals – be it short-term, mid-term or long term, knowing your risk appetite and zeroing in on your preferred investment style.
As an investor, who has just started trading, you must have a sound understanding of the market. Like the successful women investors, who exhibited market diligence, you should always remember the key variables of the market, and not get enticed by the fallacious notion of getting rich instantly. Market diligence also implies that before investing, you should conduct a thorough market research, and understand vital benchmarks such as market capitalisation, debt to equity ratio, price to earnings ratio, net income, growth of income, issuance of dividends and so on.
Constant learning: The successful women investors have blazed the trail by constant learning. This means you not only learn about trading on a day-to-day basis, but also apply the learnt insights while trading. Constant learning is the hallmark of success – whether you are working in an investment-driven environment, or in a media company, or even development organisations. Throw some stock market studying in the mix, and over a period of time, you can also feature in the list of successful investors.
As shown by successful women investors, constant learning also implies creating a sound investment portfolio. Remember, stock markets allow you the benefit of diversification, where you can invest in stocks, commodities, Futures and Options and currencies. Learning each day also means not getting influenced by advertising gimmicks, or unsubstantiated claims by companies. Alongside, you must keep a constant track on macroeconomic indicators, which have a considerable impact on the market. Celebrate the colours of Navratri with the market, keep learning, and you may well be on the right path to become a successful investor.
Patience and emotional intelligence: A couple of common traits among successful women investors are patience and emotional intelligence. Along with having a long-term investment strategy for getting profitable and competitive returns, you must, at all costs, avoid emotional investment decisions.
According to successful women investors, trading should be contingent upon practical considerations, like market movements and company reports. Your patience and emotional intelligence will invariably be tested, if there is a sudden crash in the market. At these testing times, many investors would resort to panic buying and selling. This, however, is not the trait of a successful investor. Remember, the market can rebound after a certain period of time. At times, when there is a dip in the market, successful women investors suggest adhering to your overall investment strategy, paying heed to seasoned investors/analysts, close monitoring of the market fundamentals, and then making an informed decision.
Conclusion: With these qualities, you can also be a successful investor. Start nurturing these qualities, and you can also become a successful investor. What are you waiting for then? This Navratri could well be the right time to start your investment journey. Don’t forget to celebrate the colours of Navratri with the market. Always remember to start your investment journey with a trusted and reliable financial partner. Angel One wishes all aspiring investors a happy Navratri, and may the goddess bless you!