To emphasize the importance of psychology and self-control in trading
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If you want to trade profitably, stick to the plan. First of all, start by assessing your mental state. It is true that the more successful trading is, the harder it is to get into it.
If you evaluate your mental state in the mornings, you will not allow yourself to trade thoughtlessly. Always stick to your financial and trading plans. If you are already in a bad mood, any trade will be difficult for you.
Then you should take such an attitude as a signal that on this day you need to reduce food intake. $LINK
If you want to trade profitably, stick to the plan. First of all, start by assessing your mental state. It is true that the more successful trading is, the harder it is to get into it.
If you evaluate your mental state in the mornings, you will not allow yourself to trade thoughtlessly. Always stick to your financial and trading plans. If you are already in a bad mood, any trade will be difficult for you.
Then you should take such an attitude as a signal that on this day you need to reduce food intake. $LINK
Consider unsuccessful investments as poor decisions and learn from them. Change your behavior, not your knowledge: adjust your future investment decisions according to your area of expertise. Stay true to yourself. Be aware of this process, as it is largely unconscious. Start with self-analysis.
Find your perimeter that suits you. You don't have to follow all the trends in the financial market. Form your own opinion and don't rely on other investors. If you act like everyone else, you will also only get an average return. Don't be afraid to go different ways. $USUAL
Warren Buffett has remained true to his investment philosophy for over 60 years, although critics will always be present. Stick to your circle of competence and invest only in what you understand. (Schröder, 2008) Do not try to conform to an investment style, find your own style. Just because a technology is 'in vogue' at the moment does not mean it is promising. A strong upward trend is usually followed by a counter-movement. High expectations for new technologies or startups may not be met (Linden & Fenn, 2003).
"It is extremely difficult, especially for an inexperienced speculator, to go against the prevailing opinion and buy where colleagues, friends, the media, and experts advise selling. After all, even someone who knows this theory and wants to follow it may change their mind at the last moment under the pressure of mass psychosis." (Kostolany, 2008, p. 165).