Successful investment is a painfully collected experience
Successful investment doesn't happen in a single day and many people work years together to be sure about their investment strategies. There will also be instances where they learn the lesson the hard way with the help of some losses. There are also times where people lose their investment because of wrong decisions, greed, impatience, etc. I'm not going to go deep into all those things abut understanding the importance of experience in investment is highly essential for any blooming investors.
We have to agree that someone who has been investing for a long time and reaping profits will have their own strategy and more likely their strategy would work well and that is one of the reasons for their success. A wise approach would be to learn from other's experiences as well. If you go to most of the investment gurus they will all talk about the importance of collecting knowledge and experience from the investments and investors. We can easily observe a successful investor and to start with that gives us lots of knowledge about investing. Initially, by just copying their pattern, we cannot be sure about the returns but observing them can give us lots of insights.
Investment loss
It is quite common for someone to get a loss from their investments. There will no investor in this world why would have traveled without any loss. The important lesson and experience one should learn is to not do the same mistake again. Doing a mistake or taking an uncalculated risk is fine which can lead to a loss but a successful investor will never do the same mistake again. With experience, we will also be able to say if an investment can give us decent returns or not. It can also be easier to predict or foresee if there will be any loss from the investment.
For people, it can be an instance where they would have lost so much of money from a bad investment. This is what we call a painfully collected experience. Incurring loss is a painful activity where some people get affected mentally and even quit investing completely. It is a painful situation but for any investor, there will be bad times and a bad investment. Our motive should be towards keeping the loss minimal and staying strong when something bad happens. Next time where there is a similar situation, we should be able to use the experience from the previous instance and plan wisely.
Each one usually has a unique investment strategy. Some might work for some individuals and some may not work for others. There are some common strategies that one can learn from others and it can even be followed as a ruleset or guide while planning our investments.
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