crazylogman
New member
Avoid wanting to get rich! But other than that, in my opinion the talent part has a lot do with knowing when NOT to trade, and/or to be patient before you take a trade, or invest.
For investing, you need to have a long-term time-frame in mind, eg. a year, or more. While "regular" trading can be anything from taking multiple day-trades to swing-trading for a few weeks, to position trading for a few months or longer.
But with all trading decisions, you'd want to have some kind of confidence that this trade/investment is likely to succeed based on rules you have learnt over time and/or experience.
But you also want to know who you are as a person, what happens to you when you trade or invest. Do you want fast-paced action, excitement, in-and-out of trades quick? Does it feel like a game when you do? Then I'd recommend to stay away from day-trading as it will feel like a game and you might lose due to impulsive decisions. Or can you tolerate being bored while waiting for the right opportunities to come along? That would be better already in my opinion.
Find some kind of system that, with correct trade management/position sizing, will give you a positive return over time. That's a whole discussion in itself but super-important for long-term success.
Trading is a mixture of experience and art. No matter how much learning and trial runs and technical analysis you do, you will get some days right, and some days none of your trades will work. It is way more about hedging your losses and using data in the best way you see possible, but the market is always unpredictable. Even the best day traders probably get a ratio of 6/7 out of 10 trades right.
Trading is heavy mentally, if you don't know how to manage emotions it can really play a turn on your life. I just burnt another $20k in the last 2 days even though I had every game in the book down, market just goes against you some days.
For investing, you need to have a long-term time-frame in mind, eg. a year, or more. While "regular" trading can be anything from taking multiple day-trades to swing-trading for a few weeks, to position trading for a few months or longer.
But with all trading decisions, you'd want to have some kind of confidence that this trade/investment is likely to succeed based on rules you have learnt over time and/or experience.
But you also want to know who you are as a person, what happens to you when you trade or invest. Do you want fast-paced action, excitement, in-and-out of trades quick? Does it feel like a game when you do? Then I'd recommend to stay away from day-trading as it will feel like a game and you might lose due to impulsive decisions. Or can you tolerate being bored while waiting for the right opportunities to come along? That would be better already in my opinion.
Find some kind of system that, with correct trade management/position sizing, will give you a positive return over time. That's a whole discussion in itself but super-important for long-term success.
Trading is a mixture of experience and art. No matter how much learning and trial runs and technical analysis you do, you will get some days right, and some days none of your trades will work. It is way more about hedging your losses and using data in the best way you see possible, but the market is always unpredictable. Even the best day traders probably get a ratio of 6/7 out of 10 trades right.
Trading is heavy mentally, if you don't know how to manage emotions it can really play a turn on your life. I just burnt another $20k in the last 2 days even though I had every game in the book down, market just goes against you some days.