Prof. Tyler yamazaki

 
Keep a Trading Journal
Although not required, keeping a trading journal can be beneficial. Do not
worry; you do not need to be a professional writer to maintain a trading
journal. However, you do need two things: One, you need to be completely
honest. This means that you should admit and accept your strengths and
weaknesses, as well as the outcome of every investment that you make
without any bias. And, two, you need to update your journal on a regular
basis.
Your trading journal can contain any information that you want that is
related to your life being an investor. Ideally, you should write in your
journal the reasons why you want to invest in stocks, as well as your short-
term and long-term goals. This is something that you can come back to in
the future in case you get lost or confused along the way. Your journal
should also include your strategies, the investments that you make, and your
objectives. Simply put, your journal is as meaningful as you make it.
It is recommended that you write as much as you can in your journal. The
reason is that your journal should serve as an unbiased mirror that will
allow you to view yourself from a different perspective. It will make it
easier for you to spot any weakness or part of your strategy that still needs
to be modified. There are many things that your journal can teach you.

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Again, the important thing is for you to be completely honest with every
detail that you write in your journal, and update it regularly.
Do NOT Approach Investing as a Hobby
The sad truth is that most people who invest in stocks approach the stock
market as a hobby. Although you are always free to consider it a mere
hobby, you can also expect to get a fair result just as when you approach
any other business as a mere hobby, without any commitment or dedication.
If you want to get a good amount of regular income from your investment,
then you should take it as a business or a profession. The problem with
those that consider this kind of venture as mere hobby is that they fail to
exert the right amount of effort and research that will enable them to
increase their chances of making a profit.