There's no set of written rules. If you are to make more returns from stock trading, your strategies will be subjective to your unique needs and goals. You cannot follow “rules” or a system that unlocks you higher profit—because no such thing exists in the first place. Here are 3 other things that beginners usually get wrong about stock trading:
1. It's just about buying low and selling high Making money in trading is more than just about buying low and selling high. In the dynamic market, finding such luscious opportunities is more difficult than ever. The smart trader goes out of the way to spot right entry and exists, even when it means taking a smaller loss, so to welcome more returns in the long-run. Meaning to say, taking small losses for big profits is often essential. Because you will not always find the right buy-low, sell-high opportunities. In such cases, you must act proactively keeping the macro picture in your head. Gone are the days when spotting such lucrative opportunities was so very evident. Even if you champion RSI technical analysis, you're going to find it difficult to spot such easy money-making trades. 2. Following online guides and "hacks" is sufficient It's difficult than what those "hacks" suggest. Not necessarily impossible for the beginners, but stock investment and trading are trickier. And it isn't something you can learn watching 10-minute videos once in a blue moon. The learning curve here is much, much longer. And your proficiency in making right investment and trade decisions will come with years of experience. But to smoothen that curve or journey, you would need to go beyond the online guides and "hacks" to explore new dimensions in different books, bloggers, and RSI courses. You must be willing to learn new things about the market every day. And above all, you must attempt to learn from your own right and wrong decisions. 3. Part-timing it will still make big riches Unless you have an expert by your side or you are investing full-time in the game, you cannot expect to make full-time money from your part-time gig. Meaning, if you're treating stock investment and trading as something pass-time or hobby, don't expect it to make you big money. If you want serious money, you would need to put in serious work. You must commit to it your days in reading charts, understanding market trends, putting stop-loss take-profit positions properly. Your part-timing will only make you so much money. If you want more, you must treat trading as your full-time job. These are three things that beginners get wrong about stock trading. If you're just getting started in the game, steer clear of them. Have the right ideas and expectations in the head, be smart and understand the market better before making any decision.
1 Comment
11/6/2023 10:17:48 am
I’m curious to find out what blog platform you have been utilizing? I’m having some minor security problems with my latest site and I would like to find something more risk-free. Do you have any suggestions?
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