The next few days are critical for active traders hoping to wrap up the year on a positive note.
That's because now is the best time to take stock of your tax situation for 2020 and manage portfolio volatility in the new year.
Overall, the news has been good for investors, including trading hobbyists who are just starting out.
"It's always helpful to take a step back and look at your portfolio as a whole, especially since equities have done pretty well for the year," said Amy Arnott, portfolio strategist in the manager research group at Morningstar.
"If you're an active trader, it's easy to get caught up in the day to day activity," she said.
Taking these three steps now might even help you avoid some headaches in 2021.