Investing and trading is a wild ride, and it requires lots of hard work and grit. Thomas Kralow is an expert stock trader who has worked hard to develop programs and projects and share his expertise with people worldwide. Here are his top three lessons for people who want to make it to the top.
Find a mentor
Thomas Kralow learned trading from a mentor in Switzerland. “My mom introduced me to him,” he says. “Even though we didn’t know him very well, he offered to help me learn trading.” Kralow even moved to Switzerland in order to get this knowledge. He knew the value of working with someone who understood the ropes and what it could teach him. “There are some things in life for which you need a mentor,” says Kralow. “Stock trading is one of them. If you can’t get a mentor that you know in person, consider finding someone like me who will help you learn online.”
Don’t overspend
Once you start making money by trading stocks, it can be tempting to spend it all. “I made $1 million in my first 24 months of trading,” Kralow says. “I spent a lot of it right away, which didn’t give me enough money to afford my dreams.” Kralow recommends spending money on things you love, but you should save enough to invest more in the future.
Keep learning
Once you’ve been doing something for a while, it can be easy to think that you know everything about it. However, things change rapidly, especially in stock trading. “You need to keep learning throughout your entire career,” Kralow says. “If not, you’ll be left in the dust by newer, savvier people.” He recommends finding courses online and following successful traders on social media to get an edge.
Working as a stock trader has been a dream come true for Thomas Kralow. If it’s something you want to pursue, you can learn from experts like him and their experiences.