Questions Business and Entrepreneurship

What are some unwritten stock trading rules?

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Wahid Bhai

Grow through what you go through

A stock market is a risky place. One wrong move and you could end up in a soup. When it comes to trading, everything is uncertain. You may find several books, articles, and blogs written on trading, but the majority of them doesn’t hold when it comes to the real scene. However, for a newbie, it is advised to go through these written pieces about trading to get a good idea about the stock market. 

If you want to excel in the said field, you need to get your strategies right. In other words, you should be able to see through the fluctuations. Not just that, but you should have the ability to predict the results to some extent. In short, you need to gain your own experience to survive and thrive in this field.

Unwritten Stock Trading Rules

Here are some of the classic examples of stock trading rules that are hardly uttered by anyone, but every trader is still aware of them in secret.

  • You should never follow your stockbroker blindly. Instead, you should invest some time in doing your research. Stockbrokers may be experts, but let’s not forget that they are too humans and therefore, they can be wrong. Putting your complete trust on a stockbroker is nothing, but utter foolishness.
  • Excelling in stock trading is all about experience and strategies. If you have both, there is no stopping you from looting huge gains. But the hard part is it will take time for you to learn the dos and don’ts of the stock market.
  • Always have a stop order set before, entering the field of stock trading. You should already set an amount aside which you are ready to lose. This is one of the most important things that no one will ever tell you. This is for your financial safety.
  • Living in a technology dominated world, you should be taking full advantage of it. For example, you can make use of charting platforms to view and analyze the market. Correctly using technology can bring you a lot of gains in the trading market.

No one can teach you how to trade unless, you acquire the skills to judge, what’s right and what’s wrong for you. You need to give time to your strategies to work out for you.

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