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Trading is a difficult industry. No matter the type of trading that you’re involved with, or the exact involvement that you have in the decisions to make trades, there are several basic lessons that you need to be comfortable with. In 2018, industry insiders are all pointing towards one immensely important lesson that many seem to have forgotten: you have to be adaptable.

While discussing the top lessons for trading insiders, quantitative and otherwise, with other experts, it was difficult for me to pinpoint one specific trend or another.  I kept going back to that one fundamental lesson that I learned early on. Trading is a widely unpredictable industry. Although my job is to put those patterns together to create the best trades possible, I am only able to do so because of my ability to adapt to the ever-changing patterns that arise. Volatile markets are difficult to handle, but with the right practice, you’ll be able to develop the skills you need to have a successful 2018.

One article I came across on the topic discusses that markets are dynamic, and that your trading strategy must also be dynamic in order to compete. Developing strategy is a great skill, but it means nothing if that development can’t happen in various trading settings. You simply cannot rely on one pattern, or even several. As touched on in this article, being able to adapt to market conditions is the only way that you will be able to make money in any trading sector. Don’t be afraid, however, as there are plenty of ways to adapt to a changing market. Knowing the characteristics of your market is important, as well as knowing when to give your trades a little bit of room to breathe. Take care of the volatile market, and you will be able to see through the changes to a great strategy.

Yet another article from BizMove.com stresses a similar sentiment: accept the certainty of uncertainty. If you’re one to shy away from change, the trading industry could treat you very poorly. Your day to day will constantly be filled with shifting priorities, changing expectations, new questions, and sometimes a lack of structure. As long as you know that these changes are bound to come, you’ll be able to know how to face them with better strategies, answers to those questions, structure, and confidence.

Finally, as I stated earlier, it’s important to remember the basic fundamentals of the trading industry. You need to know what type of market you are in, and how to read that market. Studying nuances of historic shifts and forecasting probable shifts will be crucial to success. Be sure to revisit the fundamentals as to not overcomplicate possible solutions, and you’ll be able to identify the correct solutions to changing markets.

Are there lessons that you’ve had to revisit so far in 2018 to help you build a better strategy for your business? Connect with me on social media or on NirRonen.com for more insider advice.