Finally, having knowing the 6 habits, the 7th habit is the simplest.The 7th habit of highly effective trader is “Sharpen the Saw“.
We just need to master the 6 habits we shared earlier. We must also constantly engage on a renewal process to practice what we learned and reflect our results and actions.
Trading and investment is learning process. One skill or technique may not work forever. A skill that works now may not work next year or the year after. A successful trader or investor need to review their portfolio and trading record quarterly at least. Review and reflection helps us to spot understand our strength as well as weakness. It also help us to review if the current trading plan is still applicable or do we need to make changes to the trading plan.
Remember, practice makes perfect, if you like be a successful and effective trader, remember to practice 7 habits of highly effective trader.
7 Habits of a Highly Effective Trader
- Be Proactive
- Begin with End in Mind
- First Thing First
- Think Win Win
- First Seek to Understand
- Synergize
- Sharpen The Saw
7 Habits of a Highly Effective Trader - Sharpen The Saw
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