What I’ve Learned About Trading, After All These Years

I started my trading career in September 2008, trading European and US bond futures. That month turned out to be historic. Lehman Brothers collapsed, and what followed was the Global Financial Crisis.

Over the next three years, I had the opportunity to trade a few different products within the fixed income and commodities space. As my career progressed, I moved into roles beyond trading. This included business operations, running teams, coaching traders, and supporting the desk in different ways.

Over nearly 16 years, I made a lot of mistakes, learnt from them, and observed many successful and unsuccessful traders. I paid attention to their habits, decision-making, patterns, and temperament.

I returned to trading at the start of 2025. Getting back into the trader mindset has been a process. It made me reflect on how I want to approach the markets. I have been thinking about what really matters in trading, what is essential, and what can be let go of.

The more I reflect, the more I believe that good trading comes down to three things.

1. What to trade

This is about choosing the right product, strategy, or structure. Every day, the markets may present dozens of trade ideas, but many of them may not be worth taking.

Good traders develop clarity on where they have an edge, and whether they have one at all. It could be a specific instrument, a spread, a particular time of day, or a type of market behavior. Some do well in trending markets. Others prefer range-bound conditions. Some thrive on short-term moves. Others take a longer view.

The key is to understand what suits your style and skill, and to focus your energy there.

2. When to trade

Even the best idea needs the right timing. A good trade taken too early or too late often ends up looking like a bad one.

Timing includes entries and exits, but also knowing when to stay out.

Understanding context such as market sentiment, positioning, volatility, flows, and data releases is just as important as reading charts or screens.

Patience plays a huge role here. Sometimes doing nothing is the best decision.

3. How much to trade

This is about position sizing, managing risk, and using your risk budget wisely.

Many trades go wrong not because the idea was poor, but because the size was too large or too small to matter. Risk needs to be balanced with conviction. A trader who knows how much to trade is usually thinking long term.

This part also requires self-awareness. You need to know your limits, not just financial but emotional. You should be aware of how much volatility you can sit through, when you tend to overreact, and when you freeze.

The size of your trade is not just a number. It is a reflection of your preparation.

Putting it all together

What to trade, when to trade, and how much to trade may sound basic. In reality, mastering them is anything but simple.

Each one takes time, observation, practice, and plenty of trial and error. None of them can be treated in isolation. All three need to work together for the trade to work, and for your trading career to remain stable over time.

I do not claim to have all the answers. I am still learning, unlearning, and adjusting every day. One thing is certain: Markets have, and always will have, a way of humbling you exactly when you think you have figured them out.

About me

My name is Chintan Thakkar. I am a financial markets professional with 16 years of experience in trading, derivatives, and managing proprietary business operations. While my foundation has always been in markets, I have developed a deep interest in how technology can improve decision-making and efficiency. My areas of interest include quantitative investing, algorithmic trading, and fintech. I enjoy exploring how data and automation can lead to better outcomes.

In my free time, I am building Fintellect, a product designed to help simplify personal finance. I also host MMML, short for Money, Markets, Mindset, and Leadership. It is a community-focused event, and we have completed two editions in Mumbai so far.