People underestimate the time it takes to succeed as a trader. Some people think they can overnight become great traders. It is a vocation that takes time, study, and experience.
The main thing is that every trader has to be honest about his or her weakness and deal with it. If you can’t learn to do that, you will not survive as a trader.
A true trader can make money in any environment as long as he reacts and doesn’t anticipate. He must feel the markets flow and never fight.
Understood that stocks don’t go up and stay up because of stories, tips, or people’s opinions; they go up for specific reasons. find those reasons, shut out the world, and then act on your own knowledge.
Buy companies that have a good balance sheet, a high book value, consistent business track records, good management, and large insider buying ownership. These are not the type of companies that go bankrupt.
On trading rules – Do your research and be sure you know the companies that you are buying. Buy low. Be disciplined, and don’t get emotionally involved.
The rule is that you can create wealth from the stock market only by buying quality businesses and holding them over the long run.