Are you a lonely trader? You’re not alone.
That sounds like an oxymoron…
But the truth is, trading is a lonely profession. And a lot of traders struggle alone…
We typically sit alone in front of a computer all day… laser focused and waiting for the right plays…
But wouldn’t it be nice to have a buddy to call on and ask, hey, what do you think about this trade idea?
Or for someone to message you and say hey, are you watching this ticker?
Talking out trade plans and brainstorming can open up a whole new world of insights and ideas…
That’s why today I’m sharing three ways a trading community can improve your trading and maybe even your life…
The SteadyTrade Team is the ultimate trading community — click here to join today!
Table of Contents
Three Benefits Of A Trading Community
Trying to learn how to trade alone is tough. That’s why I think joining a community is key for your learning…
Accountability
Having a community of traders can help you stay accountable in your trading and studying.
If you tell yourself you’re going to study after work, but instead, you sit on the couch and watch Netflix, eating popcorn — nobody will know but you.
But if you tell your trading friends you’re studying, they’re like…
What are you studying? What book are you reading? Have you checked out this video?
And the next day they want to know how it went. Is that a good book? What’s it about?
If you came back to chat the next day and said actually I didn’t study, I binged Netflix instead. Well, now both you and your pal are disappointed.
It also works once you start trading…
If you post in a community chat room that you’re entering XYZ ticker at X price and you want to sell at X price, you’ll be more inclined to stick to your plan.
When you’re sitting at home alone and you deviate from your trade plan, it’s a lot easier to brush it off and make excuses.
But that doesn’t help you learn for the next trade. And that’s another reason a community is key…
Idea Generation
Using my example above, say you shared your trade idea in the chat room and it didn’t work…
Do you know why it didn’t work?
Was there a better risk level? Or did the pattern fail?
If you don’t know why it didn’t work, chances are there’s a more experienced trader in the chat room to help you.
Instead of sitting alone wondering what went wrong you can have your questions answered and get different perspectives in real time.
A community is also good for new ideas…
There are over 16,000 publicly traded stocks in the market — you can’t watch them all!
So if your number one stock to watch tanks at the open … And your watchlist and scans don’t show anything promising…
The chat room gives you access to hundreds of eyes on the market. Alerting tickers that you may have missed.
But hey, nobody’s perfect…
Support And Encouragement
We all need some support and encouragement once in a while.
We’ve all taken more than our fair share of losses while learning to trade…
Maybe you’re taking so many you’re starting to wonder if trading is for you.
With nobody around to talk to that understands, your negative thoughts can start to build momentum…
Then you decide to give up right before you could’ve found success.
Now imagine that same feeling, but you’re in a chat room with supportive like-minded traders…
You throw your thoughts out in the chat room about your struggles and thoughts of quitting…
Then before you know it, you have messages from supportive members sharing how they struggled in the beginning but found success…
Or they share resources that helped them turn their trading around. Or they just send encouraging words to give you hope.
I truly believe that anyone can do this…
But I know how hard it can be on your own. That’s why I’m so passionate about mentoring others.
I’d love to have you join me in the SteadyTrade Team. You can click here to sign up now.
But if you’re not quite sure if the SteadyTrade Team is for you…
Call our team and talk it out — you never know what new insights you’ll discover…
Call our friendly team at 1-888-290-1841.
See you in the next webinar. Have a great day everyone!
Tim Bohen
Lead Trainer, StocksToTrade