Online trading is a way to access trading on currency, stock, and commodity exchanges through electronic trading platforms via the Internet, which allows a trader to independently make transactions in real time.
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Trading in the foreign exchange and stock market is no longer reserved for professional traders with huge assets, but also for inexperienced investors with minimal funds. The accessibility of electronic trading platforms provides democratized access to information for all participants, putting large and small traders on somewhat equal footing.
To master online trading, you must continually engage in self-education: do market research, increase your level of competence, and acquire experience. However, many newcomers to trading find it difficult to navigate themselves around today's relentless competition and ever-changing trends. This is why many seek guidance from competent trading education firms like Stock Navigators.
We spoke with the company’s founder Timothy Luong to learn more about the fundamental qualities any successful trader should possess, as well as how his media company educates people towards financial freedom through their comprehensive material geared toward mastering the art of trading.
Timothy Luong believes that one is defined by not only their successes, but also their failures. And although he has established his success, becoming founder and CEO of his very own trading education start-up, Timothy encountered plenty of failures on the road to get where he is today. His fashion company that never took off, multiple failed start-ups in college, and side-gigs in high school that eventually ended - all failures that he learned from and used to bolster his next endeavor.
What was significant about these experiences is that although they failed to become the right project, they all served as powerful lessons for the opportunity that followed. This is how Timothy Luong was finally able to find success with Stock Navigators. With all the knowledge he gained from his past failures, Timothy has been able to turn his firm into a multi-million dollar success. Today, he’s helping other people achieve similar results in trading through persistence and dedication.
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“Knowledge is not enough, you have to apply it”, says Timothy.
What makes a successful person stand out from the rest? Ability to quickly move from thought to action. This does not mean that you need to rush headfirst into the first “brilliant” ideas that pop into your head. This means that you need to clearly think over the strategy and tactics, and then do everything possible to achieve your goal.
Time is an irreplaceable resource. Learn to prioritize and spend time on what matters most. To be successful, you need to bring ideas to life faster than others can.
Look After Your Mind
The most valuable quality in trading — as well as in any other endeavor — is maintaining a stable psyche. This is where psychology and discipline come into play. You must learn to control your emotions, follow the rules of the trading system and manage your money. It is not as simple as it appears at first glance. Most people don't realize how difficult it can be to control their emotions until they try their hand at trading live with real money. Yet, with dedication and perseverance, anything is achievable.
Trust Professionals Only
For inexperienced traders, charts are continually clogged with a plethora of indicators, as well as sophisticated computations and charts. Professionals, on the other hand, save a lot of time thanks to their expertise and experience. It is wise to seek assistance from competent coaching firms to save time and effort that both are so precious in our turbulent times; yet it is simultaneously hard to choose real professionals with real competence to help.
Timothy Luong has worked his way towards success despite some serious financial setbacks. He knows how to draw lessons from these, and has proven adept at making these work for others as well. His purpose today is to share his expertise with the rest of the world, empowering people to reach their financial potential.
Whether you wish to embark on a lucrative career in trading or are merely looking to learn from experts in the space, Stock Navigators is a great starting point for any quest you might have in regards to better trading in 2021.