Being a trader is like being an investor, but in the short term. Yes, it is a very simplistic definition, but it is worth to start with. It requires work and patience. So you may have noticed:
“Not all that glitters is gold.”
This could be almost the main sentence for which I am writing this article today.
Jumping to conclusions leads nowhere when it comes to money.
I know right now you are thinking: “Ruben, why are you telling me this?”
Being a trader for people who are not within the sector is little less than swimming in tickets and driving sports cars.
Perhaps stock-market movies have a lot to do with all this… Now, what is true about this?
Being a trader is like having a business, it depends on what you can generate and what you manage.
But things cost a little more and sometimes we like to talk too much and think about how he managed to get his head there, how he will get that investment, blablabla…
It is difficult to achieve results in the world of trading, but not impossible!
And I’m leaving the turra.
Today I am going to tell you about the process that a professional trader goes through, as well as the values that this development entails, both professionally and personally.
Here we go!
- 1. Necessary skills to be a trader
- 2. How much does a trader earn?
- 3. Risk management.
- 4. Your ability and knowledge as a trader
- 4. Attitude is important
- 5. The famous labor freedom or financial freedom
- 6. Uncertainty and managing psychology as a trader
- 7. The critical character and skepticism
- 8. Is it worth it?
1. Necessary skills to be a trader
Well, as I mentioned a little above, the definition of a trader entails many acquired abilities, both in the purely professional field, and in daily life, which are not necessarily related to market operations or doing the Last generation course.
In this case, I would like to talk to you about the skills that, from my experience, mark a trader from start to finish (if there ever is, which I hope not, of course).
It all comes down to controlling your account. When you have a trading account, one of your biggest concerns is going to be (obviously) making money.
I stop along the way to talk about this before continuing.
2. How much does a trader earn?
neither me nor no one can give you an exact figurebut it will depend on several things:
Your money. The more capital, the more gasoline. But this is only one leg of the chair and you can also attract investors if you show that you are profitable.
3. Risk management.
What you are going to need is a good risk manager. Elementary, dear Watson, that if you do not have this ability and you carry out risk management in which you are introducing more percentage in an operation than you should to obtain benefits, your money is going to go to waste. Goodbye business.
Be careful and put up barriers so that this never happens.
4. Your ability and knowledge as a trader
Thirdly, one of the most notable skills that trading has is the knowledge. By constantly having to stay on top of the day to continue improving your trading, you gain knowledge that helps you function better, stay awake and be very proactive.
Without qualms and fear of nothing.
4. Attitude is important
It goes very hand in hand with the previous point, the fourth notable ability is the proactive attitude. If you really like trading, you will have the desire to search for information and continue to improve as in each movement you make to move forward absolutely emboldened.
Personally, I do not know of any trader who is left behind in this regard, or who is lazy to continue learning about everything that surrounds this world.
It’s very simple: if you really want to progress as a trader, you must constantly look for how to improve for it.
Curiosity never killed the cat in this case and, yes, I am very heavy with set phrases, but they come to my heart to tell you all this.
5. The famous labor freedom or financial freedom
Yes, what a trader has is freedom.
But also RESPONSIBILITY. And little is said about it in trading announcements.
Yes, we can trade from the pool or from our terrace on the beach floor letting the breeze caress our hair. But in addition to geographical freedom, as a trader, you also have the freedom associated with decision making.
Your entire trading strategy depends on the series of decisions you make along the way; in fact, if some of them are not well implemented, your business can go to hell and that is why understanding this is important.
Do you accept both? Trading is for you.
In my case, knowing that the result always depends on each decision is one of the things I like the most.
Therefore, to become a trader, you must also be a person with skills related to the responsibility.
Do not stay with the final photo, fall in love with the process and not only with the result.
“With great power comes great responsibility”
Anyway, as Uncle Ben from Spiderman once told the boy: “with great power comes great responsibility”; it is absolutely true.
6. Uncertainty and managing psychology as a trader
In addition to everything that I am telling you, I could not put aside the fact that being a trader also entails an indisputable ability to value money and the concern to achieve a greater benefit at all times.
Trading is a variable business unlike any job for others and we have to understand it that way. It will not be a constant salary. And this also has its charm.
This creates uncertainty. That is why I never tire of repeating that if you do not have good starting money to be able to live in peace if losses come, the ideal is that you combine it with another activity that gives you money.
That will reduce uncertainty and increase the chances that you will make money from trading. It is a vicious circle.
That is why we traders highly value the capital we have at our disposal at a given moment and its good management and distribution with full knowledge of its importance, both in the profession and in all aspects of life, obviously.
7. The critical character and skepticism
Last but not least, one of the skills that define a trader is the skepticism.
In these years I have met good traders and investors and they all have something in common: personality and a critical aspect. They have their own way of thinking.
To clearly exemplify it: when you are presented with a new business idea and they tell you about it seeking your trust and investment, the first thing you should consider is the risk you may run when facing this new project.
In fact, as you progress in the world of trading, there comes a point where your experience makes you assess whether a business is going to be profitable or not, which generates or not an increase in risk or a greater acquisition of benefits.
And above all, all this that I have told you can be applied to all areas of your life. It seems that I am joking, but it is true that being a trader can make you a better professional, because of everything I have told you that you have to win in matters such as skills, which are still positive for your personal and professional growth.
8. Is it worth it?
All the way will be worth it if you learn and enjoy the process as I told you. The benefits that are achieved with this whole process can be taken to other sectors in the worst case.
I don’t roll anymore, really.
To finish, as I have been trying to make you see throughout the article, living from this is exciting and requires a commitment on your part.
It is not easy on many occasions, but when you get it, the feeling you experience is very gratifying and, of course, what you get for everything you have done.
Fight, we have come to fight.
Thank you for reading.