How professional (experienced) traders advance their skills?


My answer to How professional (experienced) traders advance their skills?

Answer by Ruchir Gupta:

Professional/ Experienced Traders have own strategy which they hardly change if it has been continuously working. If some thing is working fine and giving consistent results then there is not point changing it.

However, they keep learning new methods and dont mix the new methods with the exiting system. They keep thinking about, how the new skill/method could be used for further advancement, and they :

  1. Either take one or two components from the new method and integrate it with old system to get better results.
  2. They may take the new method, learn it , understand its potential and profitability and start a new system, without tampering the old system which is being run with old methods.

Also, they can also advance the present skills, as the more they trade with one method they become master of it. For eg, if they trade with Moving Average they will start knowing in advance that if the crossover will happen or not. Getting these insights and intuitions in advance only happens when, one practices his trading skills for quite a while. In reverse changing trading style every month will not let him specialize that technique or method.

Another example of Gann analysis I will give, suppose a reversal in a stock happens when ever 3 planets come in to aspect to each other, then suddenly analyst stops tracking these planets and starts focusing of different combinations, his specialization will get affected and his prediction for reversal may not work. Same Applies for Elliott Waves and other technical analysis methods.

How professional (experienced) traders advance their skills?

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