Sunday, March 19, 2017

People

People will also be one who can also pull you up in your trading skills. Just like how you spot a stock you also need to spot the right people who can build you up on your trading career. We filter people into two types the noise and the one that makes sense. Look for people who talk about strategies and are also sharing the indicators they are using. If you can relate with it and you find it easy to use then study it. If they thought you about some discipline and you know that is one of your mistakes in the past take note of it.

Building a group also helps especially if all of you are really interested in the market. Build a group with like minded individuals whose goals are the same as you. But make sure the discussions are only made before or after trading hours. When it's time for trading focus on it. Or if you are done with all of the planning and you have executed all your plans then you can come back and talk to them because nobody can already affect your decision making.

Characteristics to Spot a good mentor:
1. They talk about strategies instead of hyping a certain stock.
2. They talk about discipline. Buy low, sell high. Buy high, sell higher.
3. They encourage you and brings the best out of you.
4. They are happy with your success.
5. They talk about life and businesses.
6. They are positive people.
7. They are open minded.
8. They will listen to you on your bad trading days.
9. They will advise you on what you need to do.
10. They will advise you to be wary and cautious.

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