The one great certainty about the stock market is cycles. What is working and not working will constantly change and if you can keep in tune with those changing themes you will do very well.
One of the main themes right now is the aggressive trading of small cap stocks in various hot sectors like electric vehicles. The positive sentiment in that group spills over into other groups and causes traders to constantly look for the next high flyer. Currently, speculative trading is some of the best and most persistent that I've seen since the intraday bubble back in 2000.
Many old-time market players scoff at this sort of action and will pontificate about how it will end badly and result in big losses for amateur traders. Yes, some folks won't handle this sort of trading well and will suffer losses but I don't see that as a good reason for not trading what is offered in a disciplined manner.
This trading brings to mind a comment that George Soros made once: "It's not whether you're right or wrong, but how much money you make when you're right and how much you lose when you're wrong."
Finding good trades is just part of the equation. The harder and more difficult part is maximizing gains when you have an edge. This is what really separates a great trader from a merely good trader. When traders want to move to the next level this is what the main focus should be.
Finding good opportunities isn't that hard if you work at it diligently but making meaningful profits when you are correct is what will determine your level of success. All traders struggle with this to some degree as they try to balance discipline against aggressiveness.
This market is currently rewarding aggressiveness over discipline but that won't last forever. It is an unusual market right now and we should be zealous in pursuing profits but can't forget our discipline.