**What’s the Best Trading Tip You Got from Someone?**
Trading is an art, a skill, and for many, a pathway to financial independence. While the motivations for trading vary, from creating additional income streams to building generational wealth, one factor remains constant—success in trading is deeply rooted in knowledge and discipline. In a recent podcast hosted by Skypex Trading Academy, Udo Depic, a seasoned trader and mastermind behind the Academy, shared his personal journey into trading, revealing the game-changing advice that shaped his career. Here’s an insightful look into the most pivotal trading advice shared, along with core lessons for aspiring traders.
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### Build Before You Extract
One of the most important trading principles shared by Udo was the idea of building a foundation before attempting to draw income from your trades. Many beginner traders fall into the trap of withdrawing profits prematurely, leaving them vulnerable to setbacks. Udo emphasized starting small, “You can begin with $100 or $200, but be disciplined enough to build your capital first.” According to him, the key is to resist the temptation of withdrawing any gains until you’ve grown your account substantially—ideally to a level that generates 10-20% annual returns without undue stress.
This advice encapsulates a critical foundation of trading success: **the power of compounding.** Whether you begin with modest means or a significant sum, building your trading capital patiently before extracting profits can provide the cushion you need to better navigate market volatility.
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### Know Your Market
Another invaluable piece of advice Udo offered was one he received 30 years ago: “Invest in what you know and use.” This principle simplifies the often overwhelming world of asset selection by helping traders focus on markets in which they have unique knowledge or personal interest. For example, a trader familiar with the African or Asian markets may see opportunities overlooked by others. Similarly, one who understands a company’s products or uses them may have deeper conviction about that company’s long-term potential.
Udo reiterated that knowing your market is non-negotiable. He encouraged traders to start with industries, sectors, or geographic regions they’re passionate about, which naturally makes it easier to research and track investments over time.
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### Manage Your Time Wisely
For many would-be traders, the biggest hurdle isn’t ambition but time—or a perceived lack thereof. Between nine-to-five jobs, family obligations, and social commitments, finding time to trade may seem daunting. Yet, Udo stressed the importance of *time management.* “Who is holding your bag if you wake up one hour earlier to educate yourself?” he asks.
Rather than wasting time on distractions like watching TV or scrolling endlessly through social media, that energy could be redirected toward reading market news, analyzing charts, or learning risk management strategies. Even a lunch break offers an opportunity for quick market research. Trading success, according to Udo, is less about the hours spent trading and more about how you make the most of the time available.
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### Risk Only What You Can Afford to Lose
Emotions are one of the biggest threats to sound trading decisions, as Udo discovered early in his trading career after suffering his first major loss. “If you put all your money into one trade and it goes against you, you’re not just losing money—you’re losing clarity and control,” he explained. His advice is simple yet profound: never trade with money you can’t afford to lose.
By treating trading as an opportunity to grow wealth *beyond* your essential expenses, you can shift from a survival-based mindset to a strategic, analytical one. Similarly, Udo advises taking losses as learning opportunities rather than deterrents. “Learn from your mistakes, adapt, and don’t give up,” he said.
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### Don’t Chase Quick Wins
In today’s age of instant gratification, the allure of quick wealth often leads aspiring traders down the wrong path. Udo cautioned against trusting “get-rich-quick” schemes or over-leveraging in hopes of outsized returns. Instead, he advocated setting realistic goals, such as achieving 10-15% annual returns, which are both sustainable and in line with the practices of professional traders and investors.
When tempted by promises of high returns, consider this golden rule: “To gain 10%, you risk 10%. To gain 50%, you may risk 50%. If you aim for higher returns, you’re likely risking it all.” This principle underscores the importance of measured, risk-based trading that protects your capital for the long haul.
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### Find and Leverage a Supportive Community
A unique aspect of Skypex Trading Academy’s approach is its focus on building a supportive community where traders can learn from one another. Trading, often viewed as a solitary pursuit, becomes more collaborative and sustainable when done in a group setting.
“Community is a game-changer,” Udo asserted. Being part of a group allows traders to share strategies, successes, and challenges, enriching their trading experience. Whether it’s reviewing trades with peers, exchanging perspectives, or drawing inspiration from shared victories, community learning accelerates growth and fosters accountability.
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### The Best Tip Ever Received
Finally, reflecting on the most impactful trading advice he has ever received, Udo recounted a tip from an unexpected source—his son. “My son told me to buy NVIDIA, and I did. I ended up using this as an opportunity to profit repeatedly through small trades every day.” While this individual tip proved profitable for Udo, he stressed the importance of doing your own research. Even the best advice requires validation through independent analysis.
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### Final Thoughts
Trading is far from a sprint; it’s a marathon where patience, discipline, and continuous learning are the keys to success. Whether it’s starting small, managing risks, or building community ties, the advice shared by Udo serves as a valuable roadmap for anyone eager to embark on a trading journey. Above all, remember the words of wisdom: keep learning, listen twice as much as you speak, and never give up.