Even the best of traders give up on their trading plans when trends fall out of their expectations. For instance, when there’s a downturn, they leave their long – held position; or in booms, they make investments that weren’t in their itinerary. Read more
There are only a handful of windows to the ever – so – golden wisdom of “Invest in stocks for long term”. Diwali is one such escape when investors look to leverage the market hype with short – term investments. So it’s quite unsurprising to see the big dips and rallies during this season. Trading sideways and outperforming expectations, Nifty has already registered a new all – time high of 10191.90 Read more
In order to win in trades, you must first know how not to lose. So if you’re a trader, stop incessantly reading about ways how to make more money from stock trading. Instead, first learn how you can prevent any such disappointment.
Note, this isn’t being cynic but rather having a risk management strategy that counters and cushions all your falls efficiently, paving you a way to higher profits. Read more
On many levels, stock trading is all about being positive – positive about the market and your own strategies. Sadly, even with this being an important key for success, many new traders not only are devoid of it but they also completely overlook this aspect. Read more
“The stock market is a device for transferring money from the impatient to the patient,” said Warren Buffet. And given his remarkable experience and portfolio, very few could really question his ideas and opinions.
Indeed when looked at the stories of all the successful stock traders, one could easily outline the subtle (but very important) truth that lies way behind the mainstream perception of extraordinary financial and technical knowledge. One of the biggest factors behind the high-flights of these individuals isn’t what they know—it’s their patience.
There are no hard-hitting rules to become a successful stock trader. However, there is a broad 3-step flow that the newbies must adapt to stay on the right track. It includes the right trading strategy, a money management plan and discipline.
Out of these, the middle one is the most overlooked. While people make strategies of how and when there are going to trade, and they also have a right mindset, few of them really care about having a thorough money management plan. And needless to say, it is one fatal mistake that stops them short from optimizing their returns.
While successful traders aren’t some out-of-the-world entities, they do have ideas, habits and strategies that are slightly different from that of not-so-successful traders. Although underestimated and underrated, learning from what they do (and what they don’t) can be quite resourceful for individuals looking to make a sustainable and high-rewarding stock portfolio.
Are you a trader?
Here are 11 important insights from the lives of successful stock traders that you can learn from:
As human beings, we all want security. And this puts us off taking stock trading as a full-time profession. Filled with too much of fluctuations and uncertainties, only a handful of people dare to give up their safe jobs to venture this path. Even after so many years and countless success stories, still, trading is a “side income” for majority.
“It’s heaven, really. The rewards are seamless if you’re smart,” says a professional who trades full-time.
The idea – proliferated by countless books and articles – that successful traders are more intelligent and big risk-takers is nothing but completely flawed. And this fictitious belief is the first stumbling stone for the new traders on the path to higher returns. Many of them start their journey with certainty that they would need to be genius at the technical-end.
Are you new to trading? How are you trying to match (and learn from) the habits and lifestyle of successful traders?
“How much money can I make as a stock trader”—this is the foremost question that almost every new trader asks. And it’s a legit question. After all, few would want to take the hassle and risks of trading when the return isn’t up to the expectations.
Sadly, as straightforward as the question is, its answer isn’t. So if you’re looking for a clear-cut, definite figure, it doesn’t exist. Return from your trade is only as high as your smart strategies. The more calculated and informed your moves are, higher will be the return.