A professional trader's perspective on stock trading

It's quite difficult to learn something on your own; it's much easier to use the experience of other people who have already achieved certain success in their chosen field.

 

Despite the fact that I have been involved in stock trading for quite a long time, I cannot call myself a true professional.

Therefore, I will provide several recommendations, even more thoughts, that I found in an interview with one of the American traders.

Evan Craig can truly be called a professional, as this man manages a sum of more than several tens of millions of dollars.

 

Stock trading is especially difficult for beginners, so the information below will mostly apply to this category of investors.

1. The problem for a beginner trader is that there are many ineffective strategies out there, and he can lose a lot of money before he finds one that works.

Unfortunately, there's no way to avoid analysis paralysis, when a newbie tries to figure out what works and what doesn't. It can often feel like one step forward and two steps back. Information overload is a real problem for newbies.

But this stage is inevitable, and therefore every beginning trader must go through it and gain their own experience.

2. I went through the learning process, and that was important, but filtering information was equally important. I looked for people who were making money and tried to understand what they were doing. For me, consistency mattered.

It's no use saying they did one thing today and another tomorrow—how could I figure out how they made their money? It took time, but eventually I found what I was looking for.

3. I don't think traders ever stop learning. We go from losing to winning and from winning to winning as we refine our strategies. Furthermore, the psychology of scalping a few dollars is completely different from the psychology of trading a six- or seven-figure portfolio.

I found that once I started making serious money consistently, I kept looking for ways to do it more profitably, with less risk, and less emotional stress. I think this process will continue indefinitely.

4. It's worth noting that fundamental and technical analysis work best when used together. A thorough understanding of both approaches to market analysis is essential for achieving effectiveness.

Unfortunately, before a novice trader finds what works for them, they'll also have to let go of strategies that don't. You never know when you'll achieve the desired result. That's why I believe trading is a process in which you never stop learning. And there's no alternative.

5. I'd also like to share a quote that stuck with me: The amount of time spent learning to trade is equivalent to the amount of time it would take to master the profession of a doctor, a pilot, or a teacher.

trading stocks the most , I can't think of anything else I could enjoy as much.

So I spend money and time on this activity and hope that the efforts expended will bring the expected result.

I'd also like to add, "Trade on the exchange if you truly enjoy it, not just to make money. If not, look for another way to make money; there are plenty of places today where you can earn good money.".