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TRADING GOALS

TRADING GOALS

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Author: Newbie Trader

Overcoming greed

There’s an old saying on Wall Street that “pigs get slaughtered.” This adage refers to greedy investors hanging on to winning positions too long, trying to get every last tick. Greed can be devastating to returns because a trader always runs the risk of getting whipsawed or blown out of a position.

Posted on November 8, 2019Author Newbie TraderCategories Psychology & disciplineLeave a comment on Overcoming greed

Understanding fear

When traders get bad news about a certain stock or the general market, it’s not uncommon to get scared. They may overreact and feel compelled to liquidate their holdings and go to cash or to refrain from taking any risks. If they do that, they may avoid certain losses, but they also may miss out on gains.

Posted on November 8, 2019Author Newbie TraderCategories Psychology & disciplineLeave a comment on Understanding fear

Keep a trading journal

Using a trading journal is one of the most under utilized tools by investors. Recapping trades to break down what went right or wrong will help prevent future mistakes and improve returns down the road.

Posted on November 8, 2019Author Newbie TraderCategories StrategyLeave a comment on Keep a trading journal

Pomodoro technique

The Pomodoro Technique is a time management method developed by Francesco Cirillo in the late 1980s. The technique uses a timer to break down work into intervals, traditionally 25 minutes in length, separated by short breaks.

Posted on November 8, 2019Author Newbie TraderCategories StrategyLeave a comment on Pomodoro technique
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