Stock Market | Stock Market Wisdom-learning To Trade Like The Legends, Part 2

Large traders always do their own research and market analysis. Think and act independently from the crowd. One of the biggest mistakes a trader can do is listen and then act on what one called expert says about a particular market or stock. This is almost always a recipe for disaster when it comes to your trading account. Most of these so called experts have no idea what is happening in the stock market or other trading venue. A lot of money has been lost to hear the views of others. The best traders always do their own trading decisions based on market analysis.

Patience is one of the most important virtues when it comes to trading the stock market or other trading venue. It is very important to wait until just the right trading opportunity arise. You want to have as many factors as possible in their favor, before taking a position in the market. This puts the odds in your favor on every trade you make. With the odds in your favor, this is how big the stock market traders amass their fortunes. Another area of ??patience is the ability to stay with a trade that is working. You need to get a substantial benefit when a strong trade goes your way. The emotion of fear can cause traders to exit a winning position, even when there is no reason to. I'm always a winning position, until, through a proper analysis, you get a valid signal to close your trade.