When to Make it Personal

Strong traders have a specific approach to the stock market, and you need to find yours. Your methods should be compatible with your personality, and you might have to try more than one before you find the right fit. Along the way, you should keep a trading journal where you make notes about each trade so you can learn from your wins and your mistakes.

While your approach to trading may change over time, it should always be deliberate. When you plan your strategy for different possible scenarios, it takes the emotion out of your reactions. If you lose your objectivity after you place a given position, things can get dangerous.

You can’t remove the guesswork and risk from trading, but you can definitely manage your feelings. Learn more about how to make great trades in our Instaread on Unknown Market Wizards.

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