becoming a good trader.

  • Just wondering how long it took people after they joined to become decent at trading? i joined about a year ago and was shit for 8 or 9 months

  • I've been on the platform for 4 years, and honestly I've only thought of myself as a 'good' trader for about the last 12-15 months. The first two years I only deposited about £100 (went a long period dormant on the platform before getting interested again around the summer of 2018). From then, I made a few extra deposits and got burned on a few bad trades, but since the share split in early 2019 I've moulded my strategy well to go get to the point of 78% overall profit.

    It takes time to learn the intrinsic ways of the market, I think. And you have to learn from mistakes and pay attention to market sentiment.

  • Banned

    I think a lot of people who think of themselves as good traders are in for a shock over the next few weeks tbh.

    Even the crappest person here has been able to make money so far, due to new money being added, and that is now likely to end.

    Will sort the men from the boys,

  • @chippy I thought i was a natural at it right of the bat but at the time i joined deposit bonuses were regular and hype was building about new developments all the time.

    I think I actually started really understanding the market and the mindset of other traders about 6 to 9 months in. Around that time id say i got to be a better more efficient and patient trader

  • black wolf yeah i would be similar enough to that, still feeling the damage from the mistakes, hopefully today i can clean up the port a bit, no patience was i suppose my biggest downfall, selling haaland at 4.00 then buying at 5.00, gnabry at 3.00 then selling at 4.00 then buying again. buying messi at 6.20, de bruyne at 5.50 even though i knew was stupid

  • @chippy at least you are buying decent players that have underlying value. Buying to high isnt a madsive issue if the player will return you dividends but sounds like you maybe prone to overtrading or lacked confidence in your holds in the past. I was very much the same and i find confidence is key to patience

  • @chippy I genuinely think I'm getting worse at trading as time goes on. I was really doing a lot of research at the start and did really well the last 4 months I have been doing crap.

  • @Black-wolf yeah messi has his loss returned in divdidends, confidence yeah, like i have havertz who i know will probably keep rising upto 6 pound or 6.50 but i still put in the que, probably a boredom thing aswel, always wanting to buy

  • @Tom7471 i tend to feel its more about understanding other traders than football or individual player prices

  • @Tom7471 for me personally the best way is a small portfolio and a lot of shares, i tried the diverse portfolio and was waste of time, i pick about 5 players i know will rise

  • @Black-wolf that's the thing I really struggle with as I'm slightly autistic and can't understand peoples logic.

  • @Tom7471 use comparitive value if you can then and try to understand which players traders tend to tie together when making those comparisons

  • @Black-wolf thanks

  • I’ve made mistakes and they’ve made me a better trader in my very short time on here so far. The two key things I’ve learnt so far is to have ‘Patience’ and to realise you can’t be on ‘every ship that sails’.

    However, even with all the skills and understanding in the world there is another big factor, which is sometimes forgotten. Financial resources!
    What I mean by that is those that have cash they can freely call upon and deposit to react to situations are always going to have a stronger chance of doing well. For example at the start of the Covid situation IS price margins were huge and meant that the option of getting money out of your port to reinvest in MB players was very diffucult and very costly for those who had no extra money to deposit. However, for those with the ability to deposit extra cash, they just sat on their port knowing it would come good again in time but were also able to deposit extra cash to load into MB players.

    Even putting money aside though, there is a multitude of strategies and skills that will reward if you get them right. The issue that faces is now (well at midday to be precise) is how the new platform (ME and OB) will effect those strategies.

  • @Erased-Citizen absolutely. And these new changes are going to alter every traders mindset. Its going to be a fresh new learning curve now matter what type of trader you are

  • @Black-wolf said in becoming a good trader.:

    @Erased-Citizen absolutely. And these new changes are going to alter every traders mindset. Its going to be a fresh new learning curve now matter what type of trader you are

    It’s altered mine as I genuinely believe Cap App won’t be at the rate it is now. So I’m currently in the slow process (as only have a limited amount of funds to work with) of switching my port about and reducing from 30 players to 15. I’ll still have a good base of Cap App players but I’m also now adding and slowly building shares up in some proven PB/MB big guns as I also believe dividend will become more important now.

  • @Erased-Citizen im doing the opposite and stretching mine to more players but admittedly not for cap app. Im doing it for regular dividends from a wider range of players

    My main worry has become having too much exposure on any one player if the bottom drops out of their IS price

  • @Black-wolf said in becoming a good trader.:

    @Erased-Citizen im doing the opposite and stretching mine to more players but admittedly not for cap app. Im doing it for regular dividends from a wider range of players

    It’s one of many strategies. To be far most of my cap app selections do flirt with PB also.

    Good luck mate 👍🏼

  • @chippy I'm still shit. Does anyone want to buy 306 Shane Duffy shares?

  • I’ve never lost any money on a solid trade and that’s not because I’m good it’s because I have patience , it’s all about patience . Set your self some limits when buying shares me personally will only buy if ,

    Player is under 25 - reason being if I go the full three years on this trade player x is still at a desirable age for others to still want to buy

    Players position is safe at current club or looked at fondly by big clubs around Europe.

    Mb/pb - always bumps along Profit but and it’s a big but people fail to see sometimes players growth coming from company growth/natural market growth ( this is why patience is key ) with patience you will make profit

    Player to be established I don’t want to go jumping on a guy because he got 20 goals and 10assists in the welsh league for Barry town but has now been picked up by Cardiff city and is only 40p could be the next Sancho blah blah blah 7/10 of these players go on to do nothing and it’s just a bit of risk control

    One thing that’s always worked which I always think about flashy players usually bring flashy cash look out for those exiting players ( one I hold myself and that played a massive part in me buying him Allan saint maxamin had a dreadful season with injury’s and goals/assists but because of the exitment he brings he will attract buyers along with natural market growth in nearly at 100% on him

    Don’t get greedy as long as your in the green your making money , look past the players you missed out on and look for the next big thing

    Please be aware everyone has different strategies this is just mine also any constructive criticism welcome always looking to make my strategy the best it can be for me.

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