What is some stock market advice?
TRADINGFEATURED
"Don’t be the trader who takes this for granted, learn from your mistakes and be better"
Here is some advice from a pro trader:
Your wins should never excite you. In turn, your losses will never hurt you.
In my early trading days, I wrote this down in a notebook I still have today.
Even so, it took me a while to truly understand what it meant and how to deal with it mentally.
Risk management is the key to finding success in trading. Don’t get me wrong.
You are allowed to be happy when you win - Just not excited.
You are allowed to be annoyed by a loss - Just not overwhelmed.
If you are experiencing a high level of emotion then you are risking too much.
Each one of us has a unique risk appetite/risk tolerance and if it’s exceeded, we feel the emotional rush that we should not be feeling.
Pro traders don’t get caught up in this.
We trade according to our risk appetite/risk tolerance and we control our emotions.
Don’t be the trader who takes this for granted, learn from your mistakes and improve.
Credit: Quora