In this article, you can expect to see some key traits I will point out that will help you determine who has been in a traders shoes for a bit longer, or the ones that have decided to just put the shoes on. There are traits that all traders share, however, regardless if your'e a beginner or an expert.
For instance, losing trades are, without a doubt, going to happen for everyone, because no matter your years of experience or lack thereof, emotions will affect your trading life. Having an understanding of how a beginner walks into the market to see what happens, and how an expert will prepare to enter the market before, is a major advantage. An expert knows exactly what time they need to be in the market, and they prepare for today's trades before entering by checking signals, news events, other time charts, etc. Apiary Fund reviews all these with you and can help you determine entries better.
Having emotional discipline is important because your emotions can either make a great trade, or break a great trade! You’re going to experience emotions during your trading. Unfortunately, it’s inevitable, but knowing your emotions are going to be a part of your trading, and being sure to notice and acknowledge those emotions, rather than pounce on the first emotion that arises, is going to be a master skill you'll want to master.
An expert already knows how to holster their emotions, and knows what trades to look after. A beginner can be easily swayed and influenced in their emotions. Emotions come naturally to every trader, but what doesn’t come naturally is fundamental analysis. It’s developed and perfected over time, so you can’t possibly start trading already having this mastered.
Fundamental analysis is noticing trends, entering/exiting at the right time or right spot is crucial to master over time, and it doesn't happen with instinct. With patience, experience, and practice, you as a beginner can grow and nurture these traits!
The amount of capital is also a noticeable difference between beginners and experts. You aren’t going to start trading with a huge amount of money, because you don’t want to lose a huge amount of money! And to be honest, this is obviously the smartest decision. You'll begin to become your own expert trader over time, and practice is truly the best teacher. You'll want to learn from your losses, and make better decisions next time around.
Trading is a dance, and learning that dance is all apart of the fun! I hope this helps you spot some differences on what sets us aside from experts and beginners, and what you can do to become an expert trader!