While in a bear market, there will be days when a market rebound appears. The news will be all over it and might even declare the end of a bear market. That’s why it is important to look at data yourself and develop your own opinion on where the market is. The weekly indicators are used for the purpose of determining the market trend and help me keep a steady mind. Paying attention to stock news sites can be a wild ride.
I learned the hard way to develop a checklist for my trades. Following recommendations made by others always seems to get me into hot water. I think it’s because I don’t have the volition to stick with a stock I haven't researched myself. I need to believe in my decisions.
Here is what I have in my current checklist. I find it helps me take emotions out of the buying and selling a stock. During down markets like this, I will often review past trades to see if my checklist should be modified or updated.
Learning from past mistakes is very helpful!
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