Online trading can be easy, but only if you know what you’re doing. When I was starting out, I didn’t know what I was doing, and that made things very difficult. Mistakes were made, money was lost, and then, mistakes were made again. But, over time, I developed a level of competence and confidence that let me navigate through these mistakes and develop a system that leads to consistent results. So that you don’t make the mistakes I did, I wanted to gather the three lessons I’ve learned the hard way about trading online. I’m a big proponent in believing in solidarity among online traders. It’s not us against each other, it’s us against the big corporations. That’s why I’m happy to share any wisdom I’ve accumulated. 1) Don’t Get Too Excited I call this one the “Tesla Syndrome.” As you may remember from just a few weeks ago, many made a killing off of Tesla’s absurd boom. I know one friend that made $47,000 in one week from his investments. He complained that, if only he’d stayed in for a day longer, he could have made closer to $250,000. Then I have another friend who bought in on Tesla when it was near 800, thinking it would keep growing. Now, obviously, the stock has come back to earth, and my friend is out on a lot of money. Because of the news cycles surrounding stocks, it’s easy to get caught up in the fervor of everything. You see people getting rich from a stock and you want in. Or, you don’t want to be one of those people who talks about how they could have bought in on Apple in 1989. But a level head is the best thing to have. Chasing trends will never get you anywhere. Maintaining your excitement is key. 2) Don’t Use Your Money (When You Don’t Have To) Too many people associate stock trading with putting their life’s work on the line. And, while this might be fine for some, it’s also a great way to potentially lose everything in your bank account. Trading is about accumulating wealth, yes, but it’s also about protecting yourself and your family. The truth is, there are ways to trade without ever touching your nest egg. Namely, through prop trading. Prop trading allows you to use a company’s capital to trade with. Then you split the profits. I chose Try2BFunded because it gives the best profit split. Whenever I trade with their bank—up to $100,000—I take home 60% of the profits. Other companies were offering as little as 20%. Be smart with who you get into business with. 3) Find Your Lane The truth of the internet age is this: there’s more information than ever, but most people are reading the exact same headlines and analyses. That’s why it’s important you find a sector in which you have expertise that you can trade in. Put your education, your career, your passion for research, your hobbies to work. Find that unique angle. Everyone knows about trading FAANG stocks. These 3 lessons took me from a run of the mill trader to someone getting ahead of the game. Put in the work, do the same.