Stay calm and composed during times of volatility from "summary" of How to Day Trade for a Living by Andrew Aziz
Remaining calm and composed during times of volatility is crucial for day traders. When the market is experiencing rapid fluctuations, it is easy to let emotions take over and make impulsive decisions. However, successful day traders understand the importance of maintaining a clear and focused mindset in order to make rational choices. Volatility is a common occurrence in the stock market, and it can be caused by a variety of factors such as economic news, geopolitical events, or simply investor sentiment. During these times, prices can swing dramatically in a matter of minutes, which can be both exciting and nerve-wracking for traders. It is essential to remember that volatility presents opportunities as well as risks, and staying calm allows traders to navigate these fluctuations effectively. Emotions such as fear and greed can cloud judgment and lead to poor decision-making. For example, fear of missing out on a potential profit may cause a trader to enter a trade impulsively without proper analysis, while fear of losing money may prompt a trader to exit a positi...
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