When I first began investing, I looked to a few sources for advice. I read books and newspaper articles about the topic. Originally, I thought there wasn’t much to it; you choose what trades you want to execute, and you execute them. I never really thought about the necessary attitudes to be implemented while maintaining a position. Therefore, I can definitively say that the single best piece of advice I have received regarding investing is to control my emotions.
The vast majority of investors know what they are doing and take it seriously either because they are interested in it or they just don’t want to lose money. On a day to day basis, what differentiates the best investors from the rest of the pack is how well each investor controls his or her emotions.