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spoon

Humility Is Your Greatest Asset.

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as a trader i find HUMILITY is your greatest tool. no matter how great your calls, no matter how great that winning streak, it pays to be humble and mindful of the speed with which things may go wrong. a closely related skill is the ability to be QUICK.

last night i met a young intelligent lady. she's made a small fortune on BTLING EIGHT properties. i put it to her that she might consider pulling out and taking the safe option of a relatively risk free savings account. she wouldn't reveal her current returns nor how much equity she had built up but i could tell she was close to the edge and that her CURRENT returns were not spectacular.

she views her current position as a CHALLENGE that she'll meet head on by buying and letting smarter. i think most of the BTL brigade see the coming months and years as a CHALLENGE that must be NEGOTIATED. it's the price they must pay to participate in the NEXT LEG UP in property. parking their equity in a savings account would be just far too SENSIBLE.

they've become EMOTIONALLY ATTACHED to their positions. admitting you are wrong or that a successful trade has run it's course is the HARDEST thing to do. these middle income BTL types WILL propel the market DOWN. but they're sitting OKAY right now so it will take time.

Edited by spoon

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as a trader i find HUMILITY is your greatest tool. no matter how great your calls, no matter how great that winning streak, it pays to be humble and mindful of the speed with which things may go wrong. a closely related skill is the ability to be QUICK.

last night i met a young intelligent lady. she's made a small fortune on BTLING EIGHT properties. i put it to her that she might consider pulling out and taking the safe option of a relatively risk free savings account. she wouldn't reveal her current returns nor how much equity she had built up but i could tell she was close to the edge and that her returns were not spectacular.

she views her current position as a CHALLENGE that she'll meet head on by buying and letting smarter. i think most of the BTL brigade see the coming months and years as a CHALLENGE that must be NEGOTIATED. it's the price they must pay to participate in theĀ  NEXT LEG UP in property. parking their equity in a savings account would be just far too SENSIBLE.

they've become emotionally attaced to their positions. admitting you are wrong or that a successful trade has run it's course is the HARDEST thing to do. these middle income BTL types WILL propel the market DOWN. but they're sitting OKAY right now so it will take time.

Many people believe that risk automatically brings rewards. Unfortunately there are risks worth taking, and those that are not.

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I remember someone posting something rcently about about STR'ers not wanting to 'lose face'.

I thought it was a bizarre comment to make as I just don't think like this, I've made it clear to people who keep asking "have you bought anywhere yet" what my take on the market is, what they dont realise is that THEY are on the other side of the bet.

If it turns out my position should move to reflect circumstances then so be it, but I can guarantee some of these 'property guru's' will not be wanting to close there empire down ....... they'd worry about losing face.

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Sometimes when i get a headache i see it as a CHALLENGE that i must overcome, so i wait it out and try to carry on with my everyday business... sometimes this pays off and i dont have to take a tablet.

Othertimes i wait and realise that its not going and its not getting any better, i have to take 3 tablets instead of 1. I then realise that i sufferd for hours for no reason, ive wasted my day by not being able to concentrate, i put myself through something that was very unpleasnt for no reason at all.

Thats how i see these amature BTL'rs, they've heard about the bad times and think that that MUST suffer, to make them stronger. Most will have to take thier medicine and they will be wondering why on earth they didnt take thier medicine early.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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