Stockbroking may seem easy from the outside, as it involves only buying and selling and it does not look like any hard work, but the reality is not what it seems. A lot goes behind the scenes, experts are experts for a lot of reasons. It can be very stressful and tense at times when you feel like you may lose a considerable part of your wealth just like that and other times it may look like a joy ride when you see your wealth growing with the rising stock prices without having to do anything. If you trade stocks for a considerable amount of time, you will develop certain habits and characteristics.
Some of the signs that you are a Stockbroking Expert are :-
1. You maintain Charts and related Infographics – Stockbroking experts always have the sense of the trends of the market. You have the knowledge of the history of the market, sectors, stocks and you always have an idea about the pricing of the stocks you’re dealing with, what price is too low for it and when it is leading to the bubble that may burst anytime. You maintain your notebooks to get an idea about how different sectors are performing and when is the right to invest where. Based on the accumulated data, you try to find and correlate with the reasons for ups and downs, so that you can see what laymen cannot.
2. Everyday Market Analysis – Your mind literally revolves around the Stock Market all the time, during trading hours and even after that. You spend some hours every day on detailed market analysis, particularly in the area you are most interested in. You are always aware of the strongest sectors and weakest ones. You try to dig out information about each and everything related to your area of interest for investment.
3. Strategy and Discipline – Based on the information you collect all the time, your experience, analysis, and news, you devise out a strategy that is best suited to you. You never invest in stocks in an unplanned way and you try to create a plan that can successfully handle all the possibilities. You invest in a very disciplined, planned way and instead of taking decisions based on impulses, you always use your brain instead. Stock trading is not about clicks or purchase or selling, but what goes on your mind.
4. Capture large market moves – You are always aware about the phase of the market and you do not believe in booking early profits. You have the nerves to take the risk, but always in a planned way. You do not believe in booking profits so as to make quick money, but you aim to grow your trading account overall. You always know about the large market moves and once you capture the wave, you want to ride it as long as it can keep going. You spend a huge amount of time, studying and analyzing the wave and devise out your plan accordingly.
5. Balance out risks – In one hand, you try to look out for the large market moves and willing to take the calculated risks, but on the other hand, you also try to balance it out with some safe investments. You know that no matter how much of an expert you are, you cannot judge everything correctly, and there are risks involved all the time. To stabilize your trading account, you make less risky investments with less profits as well.
6. No Blame Game, Never Unnerved – You never blame anybody, not the market, government, policies, media or anything. You never get unnerved by the market conditions, but always try to devise a successful plan according to the scenario.
7. Most boring looking stuff interests you – Important news, financial jargon, everything you find fascinating, appears to be most boring stuff to your friends and family. You may find it quite tempting to watch business news even when you are at some party or some family function, but you try to balance it out instead of letting it affect your private life adversely.
8. Adaptability, Tools and Technology – With changing market conditions, changing technology, you adapt to the new scenario within no time and always eager to learn important things related to your business. You always know the ins and outs of all the tools like News Feeds, Charts, Graphs you use very well. These days you have the ability to trade and do other related things on various platforms and a variety of different situations, such as Mobile devices, Tablets. These tools and technologies often come in a bundle, e.g. CMC.
9. Decision-making – You have a really good decision making skills as you have really good knowledge of the areas you are dealing in. You’re always aware about the trends and phases, you have a well worked out strategy that always helps you in making good decisions. You can see the possible pitfalls and good alternatives quickly, you are well aware of the options you have and you have an unshakable confidence in yourself. All these things, help you in making good choices all the time.
No expertise is achieved in any field without spending hundreds of hours on it and Stockbroking is no different. It takes from several weeks to several years in order to be acquainted with the relevant knowledge, getting used to the stock market environment so that it feels like home, ability to use most useful tools efficiently and other things, but once you become an expert, you always know what you are doing.