[[Start here]] → [[What works in stocks?|what works]] → discipline --- ![[maintain your discipline.png]] Maintaining balance and discipline in as dynamic an environment as the stock market is challenging. It's especially so when you have to deal with your own emotional reactions to the distracting media environment. Always remember that [[a mistake is not following your rules]]. Too many only consider buy rules, without having a clear plan for exits. I'll be building these notes over time, but some themes I’ll be working on include: - When to buy - [[when to sell|When to sell]] - stop losses are invaluable to [[keep losses small]] - Technical approaches for selling stocks - [[sell stops should be raised on each new high]] - Fundamental approaches for selling stocks - [[sell when the story has materially changed]] - How and when to use stop losses - What to do on a profit warning - Managing losing positions - [[don’t hold losing positions, cut losses or average down]] - How to use rebalancing to accrue profits - there is a reward to “volatility pumping” - How to manage your risk, in risk "on" and risk "off" environments - How to time the market - [[sell stocks when the market trend turns bearish]] - How to use leverage effectively --- Previous: [[diversify for resilience]]. Next: [[develop an investment routine]]