Steve Burns is a very famous professional trader in the trading world. He is the creator of the famous trading blog Newtraderu.com. And on this blog he shares 10 lessons he has learned throughout his trading journey.

He shared that, since the 90s, he has not actively traded on the stock market anymore. Because the market taught him a lot about protecting profits and cutting losses short. He's been through the biggest bull market in history (1999) and the worst bear market since the 2008 recession.

He learned when to trade and not to trade or the price to trade too large. How does it feel to lose $30,000 in your account and how it feels to make $150,000 in a few years. The thrill of winning or the pain of losing. In his trading journey, he has experienced many emotions, all kinds of difficult situations, he has read hundreds of books and countless lessons the market has taught him in his own journey.


And here are 10 lessons he learned and distilled from his experience in trading:

1. Learn how to hold long positions. Buy orders in a bull market and sell orders in a bear market.

2. He learned to only risk no more than 1% of his capital on each trade he made.

3. Learn to trade based on sound principles, not trading on your own.


4. Learn to focus on a few key stocks with the potential to make a profit.

5. When the market is in unclear conditions and you can't analyze the price action at that time, it's best to stay out, do not act or trade at all.

6. Learning from successful traders is one of the fastest ways to get in the right mindset in trading.

7. Learn to trade in a method that suits your style.

8. Understand that there should be no regrets if the transaction is done according to the principles of the method.

9. Learn one thing that we cannot predict the direction of the whole market. What we can do is keep abreast of what is happening in the market.

10. If you accept to practice hard and have perseverance, it is only a matter of time before making a profit.

These are the 10 lessons Steve Burns summed up in his trading journey. We should keep learning, keep improving buddy. One day you will discover, the way you trade is no longer the same as 1 year, 2 years or even 10 years ago that you traded.

What we care about is not where you are in your trading journey and how much money you have, but who you really are and what you will have in 5, 10 years if you keep doing the things you want to do. doing.