It’s all about timing,” Piotrowski said.
“If you are not a successful stock trader in the sense that you understand the fundamentals and you have done the right things over the years in terms of making money, you are more likely to make money in stock market trading if you are a professional,” he added.
To be a successful stock trader, says Piotrowski, you must be willing to work for a longer period than others. For example, you should have a long history as a stock trader, Piotrowski said.
“If I am not willing to work for over six months with my first five trading days at $5.00, I’m not going to be able to make money on the stock market.”
There are many ways to profit from stock trading but it should be possible to see one’s true earning potential in a matter of months and not years, Piotrowski argues.
“If you go through the years, you realize that people who are able to make money are people who are willing to work for much longer than others. I guarantee you if you go through the years I will have made more money than you have. If you want to be a high net-worth individual, you need to have been able to work for several years in order to be able to keep putting money away.”
A Better Way
Many people, myself included, have an image in their mind of a stock trader, Piotrowski said. Some people believe that high stocks trading requires a certain level of experience and knowledge and so are not very successful at it.
“I’ve read a lot of books on technical analysis and a lot of books on macroanalysis and they all say the same thing: a trader who has a lot of experience will make more money if they trade for longer than others,” Piotrowski said.
This has not been true in almost all cases. The most successful traders in Piotrowski’s book earn about one-third more money than the average trader in the book.
“If you are not going to have your first trading day at $5 a share or more, this is not going to be your way of making money. A lot of people assume that it’s the experience and it’s not.”
Stock traders are also less likely to take large positions on the market and that is the cause of much of the high trading commissions. The commissions can take the form of trading
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