A look at stock trading from a professional trader

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

 

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

Therefore, I will give 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, since this man manages more than several tens of millions of dollars.

 

It is especially difficult for beginners in stock trading, therefore the information below will be more relevant to this category of investors.

1. The problem for a new 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 is no way to avoid analysis paralysis as a newbie tries to figure out what works and what doesn't. Often it can be a case of one step forward and two steps back. Information overload is a real problem for newbies.

But this stage is inevitable and therefore every novice trader must go through it and gain his own experience.

2. I went through a learning process and that was important, but filtering the information was just as important. I looked for people who made money and tried to understand what they were doing. For me, the sequence of actions played a role.

It is no use saying that today they did one thing and tomorrow another - how could I determine how they earn their money? It took a while, 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 improve our strategies. Additionally, the psychology of trading a few dollars while scalping 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 with more profit, less risk, and less emotional pain. It seems to me that this process will continue endlessly.

4. It is worth noting that fundamental and technical analysis work best when used together. To achieve efficiency, you need to have a good knowledge of both of these market research options.

Unfortunately, before a novice trader finds what suits him, he will also have to ask for unsuitable strategies. You will never know when you will arrive at the desired result. This is why I believe trading is a process where you never stop learning. And there is no alternative.

5. Additionally, I would like to share a quote that has stuck with me. The amount of time spent learning to trade corresponds to the amount of time it takes to master the profession of a doctor, pilot or teacher.

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

Therefore, I spend money and time on this activity and hope that the effort will bring the expected result.

And on my own behalf I would like to add “Trade on the stock exchange if you really like it, and not just to make money. If this is not the case, look for another area to make money; today there are many places where you can make good money.”