Trader is a profession – Trader’s Blog

We all often hear words like “trader” or “trading”. Some uninitiatedеgiven in this topic, for some reason believe that it is easy. Many imagine a person sitting on the beach with a laptop who does practically nothing but earn money, and quite well.

In fact, everything is far from being so simple and easy! A trader is a full-fledged profession that needs to be trained, like any other profession.

It just doesn’t happen

Becoming a professional trader does not mean getting rich quick or finding an easy path to success. If your goal is “easy money” or you don’t want to put in the effort and time required to develop new skills, then learning to trade is probably not the best option. No one immediately becomes proficient at playing a musical instrument or competitive sports, and trading in this sense is absolutely no different.

As in most other professions, here too, only those who work hard and have an idea of ​​​​what exactly they want reach the top. Trading on the stock exchange offers almost limitless potential to those who are able to identify their strengths, strengthen them, confront their mistakes and continuously learn, including from them. To do this, you need to have humility in order to understand that there are always opportunities for growth and improvement.

Personal and professional development as a trader

Becoming a professional trader is a difficult task, like most things that are really worthwhile. There will no doubt be challenges along the way, but developing your own skills is really no different than any other profession.

There may be small setbacks, occasional plateaus, but there are bound to be periods of growth and profitability as each new level of development is reached. If you can stay focused and follow the path that other professionals have taken, you will soon be able to achieve great success yourself.

Trading the markets is partly a puzzle to be solved, but also an incredible test of self-discipline and commitment to your own plan. Successfully overcoming these difficulties in itself can bring incredible pleasure, not to mention profit.

The Importance of Teamwork

Despite the fact that trading, at least as a common stereotype, is considered more of a solitary profession, where everyone defends their own interests. However, in order to succeed, you must also be able to communicate with other employees. This is especially important when a trader works in the dealing room, and simply has to discuss situations, making important decisions together.

Even when working as a freelancer, that is, for yourself, this skill will never be superfluous, since no one has yet canceled remote communication with colleagues in voice chats, as well as in many other ways. That is why a real trader should be able to clearly convey his own point of view, and at the same time be a good psychologist.

Learn to Avoid Unrealistic Expectations

This is the most common trap for beginner traders and most marketers are aware of it. They promise 1000% returns every week, $10,000 a day, and millions in the first year. Although nothing is impossible in the trading game, the realization of these promises is almost always zero, especially for beginners.

Such expectations encourage traders to take on big risks too early in search of profit. The resulting mixture of greed and anxiety often completely destroys a trader’s efforts, leading him to make bad trading decisions. Beginners simply don’t have the experience, the self-confidence, or the emotional tools to deal with such challenges.

Professionals, on the other hand, do not think only about the potential profit, and instead focus on the risks and the proper implementation of the set plan. They know that if they control these aspects of trading, then profits will not go anywhere anyway. Experienced traders know their real positions and do not make trades outside the plan. Keeping your risks under control and ensuring consistency are the things that give the best results in the long run.

That is why if you are ready to follow a given path that focuses your development of trade, then you will definitely achieve long-term goals.

Stick to a trading plan

When you start trading, you must have a well-defined plan – a trading system and the determination to follow it, adhering to your own rules.

You need to know “setups” that will provide options for how you are going to enter trades and what you are going to do if the price moves in your favor or against you. While it is helpful for experienced traders to have some flexibility, there is really no excuse to enter a trade without a real plan and risk unnecessary losses.

Beginning traders easily let their emotions run wild, which leads to too many losses and small gains. By staying disciplined and following a plan with well-defined rules, you can boost your confidence. It is this quality that is vital to long-term success in trading, and without a clear structure, it will be extremely difficult to develop it.

Be honest about your performance

This is an essential element of trading development that is too often neglected. Without taking the time to analyze your trading performance in detail, it is unlikely that you will make a big leap forward in the coming weeks and months.

One of the reasons why many newcomers to the market do not analyze their results is the reluctance to admit their losses. A professional trader knows to be ready for literally anything!

Losses happen to everyone, but a consistent trader carefully analyzes all his results, and adapts to any situations as necessary. He accepts his own failures as long as they match the trading plan and considers them even good trades – they just didn’t work out. If it was the result of poor or erroneous decisions, the professional sees room for growth and improvement.

Ovladeuse your trading edge

Another all-too-common trait of novice traders is what is called “system skipping”. Many novice traders have an extremely narrow focus when looking at their results. When they have a small string of losses, they often switch to another trading system, hoping that it will be better and easier there.

Of course, there is no perfect trading system, which means that the same thing will repeat itself over and over again. Because the trader jumps to something new at the first sign of trouble, he essentially always jumps to a new trading approach as soon as he hits a new low. Thus, it moves from one low to another, and eventually this leads to a complete failure.

Experienced traders know that a single trade or one day does not matter in the big picture. They take a broader approach, realizing that they need to study a large sample of transactions if they want to achieve anything meaningful.

Through the combination of a sound trading plan, a well-tested system, and thorough training (through self-study, experience, books, courses, etc.), traders confidently adhere to their methods, which allows them to achieve first positive results.

The Importance of Money Management

Many novice traders often “stumble” on the way due to the inability to manage financial resources. This is an essential part of any trader’s plan, and without well-thought-out rules for determining trading risk, you will only get yourself in trouble.

A professional trader knows that risk management is an essential element of success. He understands that it can be easy to make money from time to time, but recovering from a series of failures can be quite difficult.

For this reason, experienced traders keep the maximum risk on any trade within their personal comfort zone and focus on trading opportunities where the reward to risk ratio is significant. This approach allows them to thrive, especially in the long run.

A trader is a serious profession that requires knowledge, skills, experience and patience.

https://forexsites.info

Author of articles on trading and investments, which I have been doing for more than 8 years. Even from your phone, you can open a deal, buy shares, build up capital in assets that will bring dividends even when you stop working. You can't just not think about it.

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