Don’t make the mistake that keeps most people from sticking it out in this industry and eventually making it to the holy grail of trading success. It’s you, four walls, the computer and a high speed internet connection and that’s what can make trading stocks and options online a lonely place. Luckily there are virtual support systems and groups in place to keep you connected and feeling that sense of a community which could be the difference between your success and failure.
Reason.1 You are not alone
When I first got involved with the stock market at times I felt lonely and like I was going against the trend of life. Everyone else was focused on school or their jobs but no one was really interested in the stock market. I knew I was either on to something big or everyone else knew something that I didn’t know which is why they stayed away from it. Either way I had to find out which one was true. Most people called me crazy or simply said the stock market does not work but I charged forward with learning this industry anyway. What helped me get through those lonely times and difficult trades was knowing that my cousin and I were tackling it together. So even though we did not have a group per say it helped just having one other person to talk to, run ideas by as well as keep me on my game plan when I started to veer off track. I can’t tell you how awesome it also felt to have someone else feel like they were crazy with me for going after their dreams too. If only for the sake of sanity and not talking to the walls in your home all day, you should look into partnering with another trader or joining a group for the human interaction.
Reason. 2 Get around like minded people
The saying goes “you are an average of the five people you hang around the most” and the reason is because their thoughts and actions start to rub off on you after while. If most of your life you have been around people who work a job or have never tried anything outside of the traditional 9-5 to earn income then how much insight can they provide you with on your new journey. Usually these people can’t provide any insight but often times unfortunately they end up mentally bringing you down and making you question your new found path to wealth. This is why it is crucial to get connected with a stock trading group so you can be around like minded people going after their dreams in the same industry.
Reason 3. Learn from a Diverse range of experience.
In stock trading groups you can benefit from the different diverse backgrounds and experience of other traders. Whether it’s one person or a group of 10 each person brings their own unique perspective of risk tolerance and views on the market. Two people bullish on a certain stock can enter the same trade but one can see an opportunity to minimize risk using options while the other see’s a long term play buying the stock and holding for dividends. Which one is right? They both are but having two different perspectives can help you think of strategies you may not have considered before as well as avoid risk you may not have accounted for. The synergies that are brought together from a group of traders with different styles can shave months and years off the learning process. There is power in joining a stock trading group with people who think like you but at times see trades different from you so you can learn from each other.
If you are in the stock trading industry long enough it can start to feel like a lonely place. Working from home can isolate you from what you’re use to which is talking to co-workers at the water cooler and connecting with people; you need an opportunity to connect with other humans and not just your computer. You can also benefit from being around like minded people and learn from their knowledge and experience. One of the best ways to do this is by joining a stock trading community or at the very least find a trading partner that you can communicate with and bounce ideas off of as well as share your frustrations to help keep you sane.