When it comes to trading, you should be constantly improving. This helps you to continue minimizing your losses and maximizing your gains. This sounds like simple advice but if you take it it will change your trading. This however is not my secret to getting better at trading. The secret is something powerful if used right and destructive if done wrong. Before I tell you what the secret is, I am going to introduce myself to those who are new to my blog.
My name is Trav and I invest in stocks, gold, and cryptocurrency. I started this blog because I have been able to make anywhere from 5%-40% a day in profit. To put this in lame terms, I am making what the professionals make a year, every single week. I love helping people so I figured creating a financial blog and YouTube channel would help me to spread my knowledge to others in a super simple way. Sidenote: I write how I talk rather than writing grammatically correct in every instance so I can add more character to my posts and because writing and english are by far my weakest subject.
Ok, the wait is over. I’m going to reveal a way you can get better at trading. Its joining a group chat of people who are also trading. Some groups are helpful and some are not. So I am going to describe a great type of group to be in if you are looking to improve your trading.
Your group should have a variety of skilled traders. This should include all from beginners to experts. The reason why is because when there is a group of different skill levels, you have beginners asking a lot of questions that can help you learn the foundations. You will have the decent traders asking educated questions that will help you understand the fundamentals better, and you will have expert traders that can share the trading thought process behind trading and present new trading techniques.
Along with those benefits. Being in a trading group chat helps you out because you will be surrounded by people who understand your struggles and can motivate you to push through your inevitable losses.
Remember when I said there were also bad ones? Well this is how you know if it is a bad group chat. In a bad group chat, there will be people trying to bring each other down. Trading is very emotional as is but adding in a few jerks trying to bring you down to lift up their trading results is not ok. Friendly competition is good, bashing is not. Also, if people in your group chat are simply telling you when to get in and get out of the market without teaching you, this is not a good group chat. This may make you money if you listen to people telling you when to buy and sell, but long term you should become self sufficient because the longer you rely on someone else to bring in money for you, the less confidence you have in yourself. So even if you are making money copying trades, at least learn how to spot the trades you are taking so you can start training your eyes.
Now remember guys, let’s always use risk management and remembers to “Get in, Get Out, and Get You a Bag.”
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