Originally posted August 30, 2018. Last Updated March 2, 2019

Despite their strong opinions and often-dedicated beliefs to their way is the “right” way, professional traders seem to agree on one tactic for success – listening to and learning from other traders and investors.

Investing is as much feeling as it is thinking.

As you proceed on your journey to become a successful investor or trader, you’ll find there are certain strategies that work for you and other strategies that don’t. At first glance, the amount of mathematics and technical movement involved in trading might make the casual observer believe the markets only use your analytical brain.

Nothing could be further from the truth. The markets are driven by group psychology. It has to do with fear, excitement, arrogance and a variety of other emotions (Curious how to reduce your emotion while trading? Check out our blog on FOMO – the Fear of Missing Out – and the removal of emotion).

Trading and investing is a very personal undertaking. You have to find the techniques that work with your personality. One of the best ways to do this is to learn from other traders.

Never stop learning.

In order to become an effective trader and investor, you should never stop learning – no matter how experienced you become in the markets. Fortunately, there are a lot of low-cost – and even free – ways to keep honing your skills and learn to become an effective trader.

In addition to Get Irked’s Suggested Reading List which is regularly updated with great books on mindset and investing and CNBC’s daily free podcasts, there are other great resources out there, too. We recently found a new favorite – Chat with Traders – a free podcast by Australian trader Aaron Fifield. Each episode, Aaron interviews a different trader or investor from a variety of different markets including stock equities, prop desk trading, hedge funds, Bitcoin, FOREX and many more.

Aaron has created a very robust website at www.chatwithtraders.com which contains a lot of free content, and you can also subscribe to his podcast for free on iTunes. If you’re a more visual learner, check out the Chat with Traders YouTube channel.

In conclusion, remember as you continue to refine your trading and strategies, you should never stop learning. Arguing, debating, and hearing insights from other successful traders will make you a more effective and successful trader at all experience levels.

DISCLAIMER: Get Irked is not sponsored by nor affiliated with Chat with Traders in any way, we just really enjoy and appreciate Aaron Fifield’s content and felt our audience might, too.

 

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Disclaimer:
Eric "Irk" Jacobson and all other Get Irked contributors are not investment or financial advisers. All strategies, trading ideas, and other information presented comes from non-professional, amateur investors and traders sharing techniques and ideas for general information purposes.

As always, all individuals should consult their financial advisers to determine if an investing idea is right for them. All investing comes with levels of risk with some ideas and strategies carrying more risk than others.

As an individual investor, you are accountable for assessing all risk to determine if the strategy or idea fits with your investment style. All information on Get Irked is presented for educational and informational purposes only.

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