“I was able to sell a portion of my stock. Then I decided to hold the rest. That could prove to be a terrible, terrible, terrible decision. This could be the worst financial decision of my life…could be.

But after lots and lots and lots of discussion and lots of number crunching and lots of thinking about it, I decided to hold on. ….” (Source: Tim.blog | H/T: Mind Café)

That’s Tim Ferris, New York Times bestseller and a successful investor who remains in close proximity to the big shots in the Silicon Valley, including the finest investors and consultants.

The world is staring at one of the biggest recessions in recent times. So, it isn’t just the regular stock investors who are anxious. The institutional and successful investors are holding their breath as well. 

The tug of whether to…

• Hold or exit the market
• Trust this company or not
• Follow others or walk alone
• Leave or sink with the ship
• Buy the dip or remain risk-free

…is confusing stock investors worldwide.

If you’re among them, don’t be too hard on yourself. 

Work to minimize your risks. But, at the same time, depending on your financial standing, be okay with little risks that won’t destroy your portfolio and make you poor.

Get rid of anxiety and trust the tried and tested rule of stock investment: Hold.

Of course, portfolio diversification is another tried-tested rule.

There are many things stock investors can do to combat this economic contraction and keep their portfolio safe.

So, avoid over-stressing yourself. Just like we have overcome every downturn, we will do even this one.

As a stock investor, stick to your long-term game. Focus on getting better at this game. In fact, use this period to amplify your skills. There are many share trading courses out there. Find and enroll in the best online stock trading courses that adequately suit your needs.

Yes, there are challenges ahead and many investors might struggle in different ways. But, at the same time, there are also many opportunities to grow yourself and boost your portfolio. Tap on these opportunities.

There’s a lot more to become a full-time (profitable) stock trader than just reading a few articles and completing a trading course. Of course, you need the right technical skill. However, often overlooked, you need the right mindset to take all the mental pressure that the game entails.

So, if you plan or aspire to become a full-time stock trader, here are three essentials you’re going to need:

1.Appetite for losses

No matter how “great” and “perfect” your trading strategy is, you’re still going to lose money. It’s inevitable. Somewhere, sometime, you will eventually fail to match the market’s pace, eventually losing money.

Moreover, when you’re trying to build a high-value portfolio, you’re going to have to take (calculative) risks, which would further increase the chances of loss.

So, you must have the right appetite for such losses – both financially and mentally.

2.Patience to observe the market

Stock trading isn’t just about pacing in the room, making calls and buying-selling in frantic. It isn’t as chaotic as the mainstream perceives it. More often than not you’ll have to sit back, relax and watch the market movement intently. You would need to stop and analyze the trends.

Often, you will find it extremely boring.

All these require you to have enough patience and NOT make immature decisions.

This is important to make the right moves, not give in to market FUD and prevent self from trading emotionally.

3.In-depth technical knowledge

Stock trading is more than just buying low and selling high. The biggest challenge would be for you to actually spot such opportunities and then (try to) time the trade so to maximize the return.

If you don’t have in-depth knowledge of technical analysis, you’re going to find it difficult to survive as a full-time stock trader.

So, if you’re really weak in this department, enroll in online trading courses that focus on the technical aspect of trading. Learn and grow.

Conclusion 

Of course, you need much, much more to be a successful, full-time trader, including a well-defined trading plan, a network of reliable traders for support, and expert assistance among others. But the above mentioned three are essentials that often get discredited or overshadowed.

If you’re starting in the game, always know what it takes to win at it. Have the three essentials and you would be off to a good start. 

Indeed, the opinions of stock market experts vary depending on their own experiences and sense of understanding. However, there are some standard points where the majority of them do meet.

Here are three common pieces of advice stock market experts give on how to learn to trade in stocks:

1. Don't be a victim of analysis paralysis

Planning is good. Opt for the best stock trading courses. Identify your trading style. Devise your unique strategies. But it's important that you don't fall a victim of analysis paralysis. So many beginners spend so much time in the learning process that they don't start in the first place. They end up becoming a learner and NOT a trader. If you really want to learn, stop thinking and start trading. In your Ls and Ws, you will learn better and faster.

2. Follow the right people

The easiest way to learn how to trade stocks is to follow those who are trying to do the same thing and/or have done it already. When you're surrounded by the right people, even in your normal conversations, you can learn a lot. Like, you can discuss RSI edge, latest news and how the market trends are moving. Such discussions pave the way to learn and understand more. Plus, when you're around with like-minded people, you also feel inspired and connected to stay on your journey to learn stock trading. If you can't find such people in person, follow them on social media platforms.

3. Work along with an expert or consultant

The most successful and profitable stock traders you see out there, they don't do it alone. They have a team to work along with. And that's what you need. Not necessarily a team but at least someone who you can consult and take advice from about the trades. Qualified and experienced, these experts can be of great help, saving you from blunders and making decision-making quicker. So, don't treat stock trading as a DIY thing. Have the right person by your side to take help from.

These are three very common advice stock market experts give on how you can learn stock trading the right way. Good luck!