Life Lessons Of A Stock Trader
Team TRADEway • August 25, 2019
Who likes to follow rules? Numerous psychological studies have shown that people rationalize rule breaking or wrongdoing when it benefits themselves or others. Not many people like to follow rules, but rules are necessary in the stock market.
When you learn the skill sets needed to trade in the stock market, you learn to make calculated decisions rather than gamble. But it is important to follow rules within the system, or else the system will not work.
People tend to give themselves slack when they break rules, especially if they believe the outcome will be beneficial. The problem with this is that you create emotional turmoil that can have a negative effect on trading outcomes.
You must become emotionally mature enough to learn the importance of following the parameters you set for yourself. Understanding the importance of guidelines will lead to the potential of more success.
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