The Importance of Developing a Personalised Trading Philosophy and How to Develop One

First and foremost, a trading philosophy is of vital importance, primarily to avert emotional trading, which can result in immense losses when one gets controlled by emotions instead of the other way round. This is especially germane in the currently escalating Russia/Ukraine War Crisis, which have sent global stock markets into shambles. Therefore, a good trading philosophy, which is firmly grounded on a set of emotion-free principles, will, no doubt, reward one with a superb chance to beat the market. Ways to develop a good trading philosophy include extensive market research such as through analysing the news and attending online webinars to understand the multifarious investment strategies. Always remember: look at the facts, not the noise. Be discerning in what you read. The market is not static but dynamic; strategies that have worked in the past may be irrelevant now. After exposing yourself to a diverse set of viewpoints from experienced investors, reading the news and critically analysing the facts, weigh the facts and consolidate your research. Ultimately, research is paramount and always believe in your own judgement, not the noise.