Write Your Own Stock Trading Tutorial
Posted on December 23, 2009 | Category: Money Trivia
If there is one thing that every stock trader could benefit from it is a little bit of self reflection. I’m not talking about some sort of Tony Robbins “I’m good enough…†routine. I’m talking about taking a step back from your daily trades to examine yourself from a new perspective. When day traders get locked into the grind of trying to identify that day’s plays, they often forget to continue the learning process of trading stocks. One of the easiest ways to be honest about how you trade is to attempt to explain it to someone else. Trying to find someone willing to listen to you blab on about bollinger bands may be harder than you think, however.
That’s why I think every trader could benefit from writing out their methods. We’re not going to write one of those back to the basics stock trading tutorials, we’re going to focus on exactly what we do to make money trading stocks. It’s harder than you might think, but there is value in doing the exercise. Get out a piece of paper (I’m serious, turn off the monitor for a few minutes).
Write down what you look for in a profitable trade. I know this may sound silly, but without your charting package in front of you to refer to it can take some time. What is the first technical indicator you look at? Then comes the big question: Why? Continue writing down everything you can think of that you use to make informed trades. What have you changed about your strategy recently? Has it worked? When trades go against you can you identify why? Is there a correlation between the bad trades and a certain buying signal? If you can answer these questions you just might gain a little bit of insight into your own trading methods. More stock trading tutorial advice can be found at stocktradingtutorial.org.
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One Response to “Write Your Own Stock Trading Tutorial”
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January 12th, 2010 at 8:22 am
Thanks for the great post. I always like to bookmark financially or stock market related posts like this one.