The difference between pro traders and new traders is how they approach trading.
Pros commit to trading. They do not see it as an opportunity, they see trading as a form of work. They are not looking for the best trade every time, instead, pros are looking for many trades because they see loss and gain as a fundamental part of how trading works.
It would not be too absurd to think of pros as survivors. Pros have realized losses and gains over time, injecting capital only to lose some more, yet they have accepted that that is the nature of trading. There are both good and bad trades that range in how profitable or unprofitable they may be.
Pros respect the markets, they are not trying to prove that they are right -they just follow the flow of the market. Lastly, pros understand that a lot of things cost money in the day trading world; however, they are willing to spend it because they like to have the tools that will lead them to success.
| Measured metric
|
Type of trader | |
| Pro
|
New
|
|
| Approach
|
Goes with the market flow
|
Tries to squeeze out profits
|
| Commitment
|
High; trading is a form of work
|
Low; trading is an opportunity
|
| Choosing trades
|
Looking for many good trades
|
Only chooses the most profitable trades
|
| Spending money
|
Willing to pay for tools that will lead them to success
|
Only looking for free tips/shortcuts
|
| Reaction to loss
|
Neutral; understanding
|
Negative; takes it personally
|
New traders differ from pros in plenty of ways. For starters, they are looking for that original piece of validation to continue their day trading ventures. This is why new traders tend to look for only the best trades in the markets they are monitoring. They instinctively want to make money right away and gain some working capital to buffer any future loss.
Furthermore, new traders suffer a lot when they fail because they take it personally and naturally reject their losses. This behavior eventually leads to them quitting altogether which ties into their commitment to trading as a whole. New traders (unlike pro traders) do not like to commit; for them trading is an opportunity to get as much money as possible from their trades. Furthermore, they are looking to minimize their costs by acquiring tips, shortcuts and various other content for free.
As a result, new traders often sprinting to make a quick buck while if they simply took the time to slow down and educate themselves they will make more successful trades in the long run.
It’s up to you whether you want to be a pro or a novice trader. So what do you want to be?
