Published by Programme B
Very often, you can encounter inflated expectations from stock trading and trading.
The truth about trading is that it is a profession just like any other in today’s economy. What does it take to become a good doctor, lawyer, engineer? You need to study for several years, then practice for several years, and only after that you can hope that a new profession will be able to bring a stable income.
What is different about being a trader? The fact that it is impossible to be a mediocre specialist here. A trader either earns money on the exchange, and then he is a high-class professional, or not. Therefore, you can be a mediocre builder and somehow find a job and earn some money, you won’t be able to be a mediocre trader for a long time, the deposit will end. Therefore, it is necessary to approach the development of the profession of a trader thoroughly and seriously.
That being said, it is important to find a reliable broker such as AvaTrade, which closes millions of trades around the world every month.
What do you need for trading?
The most important thing is professional software. For example, today brokers provide the ability to analyse trading volumes from major exchanges, which will allow you to immediately trade more efficiently, more fully looking at the market. Free trading platforms always provide only part of the useful information. For professional work, you need professional tools, and without it you can’t do it.
Test deposits are also important, the results of trading on which should be considered as money invested in your education.
How to develop in this area?
In which direction to move on to improve in trading, even if you already have one profitable trading strategy that brings you money:
- Start building a portfolio of trading strategies, since markets are volatile and strategies can work either better or worse. If you have a portfolio of trading strategies, then your total capital curve will be smoother, and drawdowns will be smaller, profits will be more stable. Accordingly, attracting larger investments will be easier.
- Seek to master new tools for trading, as in this way you can create a more diversified portfolio of trading strategies. Accordingly, get more stable results from trading.
Learn and try to trade in new markets. Since financial markets are communicating vessels, if money decreases from one market, then it increases on the other, if there is a flat in one market, then there may be a trend in the other. By trading different markets, you can’t miss strong trends that may occur in one market, but may not be in another.
In the future, you can start to form a team of traders. Look for like-minded people, exchange ideas, discuss markets and your progress will be faster.
Trading is an exciting profession, as changing, evolving markets will not let you get bored, and you need to constantly learn, explore, develop in order to remain successful in this profession.