The benefits of trading with an experienced community
Whether in trading or anywhere else in anything we do, learning is an extremely difficult proposition for most . Trading is one of the most difficult businesses to get into, because from day one and indeed trade 1 you are competing with the best in the business and with other retail traders like you to institutions and big funds who would not hesitate to punish you if you start off and trade with an erroneous strategy or worse do not even have one.
There are many statistics which go to prove that over 90% of newbie traders lose in their first year. Infact, you just need to call up your brokerage or spend an afternoon on a Saturday at their office and your relationship manager would show you accounts which have been opened but most of them are inactive today.
But there is a way to come across this huge handicap. How?
Trade with an experienced community
Most traders learn from fellow traders, some teachers and family members and others from mentors. Most of them realize the struggles they have gone through and are willing to assist other traders in the learning process. Indeed the life of a trader is a circle, he learns from others and after a while he starts sharing the methods with others. The good trader knows that if he has learn‘t something from others , it falls on him to carry the process forward and help someone else.
What is the point of being a successful trader, who made a ton of money , but went through life without anyone acknowledging him or he was unable to pass on to some one else his strategy. Traders generally live a larger life than most, and most would not like to die unsung. So the effort to help someone else for the recognition, and indeed some money for the time
But what are the benefits for a new trader?
When you watch an experienced trader trade live, you’re able to learn how to think like a trader and trade accordingly. In general, beginners who have a mentor tend to make less mistakes because they have someone to help them fix those mistakes quickly or prevent them. Moreover, you’re able to learn how to trade effectively using a market-tested strategy instead of throwing blind darts on the wall.
More eyes on the market
One person does not have all the answers and indeed never will. There are no gurus or wizards only traders. The difference being one word- experience and more time in the market.Trading can be a lonely experience, but when you connect traders together, they tend to drive each other to do better. Traders in a community are very unselfish by the very nature of them being there and are willing to share news and strategies. It is easier to identify opportunities that way.More eyes would mean more opportunities which translates to bigger profits.
The biggest mistake a trader can make is to think that he knows everything . Infact if he thinks of of himself that way, he is one step away from being humbled and knocked off his pedestal by the market. By connecting with fellow traders, there is instant feedback and a chance to grow at every engagement.
A system and a process
You will realise quickly in a community that throwing darts on a wall is not trading, Indeed it is about a method and a process and you would quickly see other traders who understand market structure well and are willing to wait for the market to come to them against traders who are trading random and all over the chart with zero method or accountability. When you trade in a group the honesty in your methods would comes across not just to you but other members in your community. There is no place for false ego and your confidence can only grow with the acknowledgement received by others.
The Bottom Line
At Vtrender we believe strongly in the community based approach to trading. The markets cannot be learnt in a classroom effectively and only in a live market situation with a valid process you can garner the confidence to trade effectively. Most traders believe that trading can be learned from a book but that is not true for most. Infact, our brains are programmed more to a visual pattern of learning and learning through experience. Which is why, we had a teacher stand up in a classroom and talk to us from our school days, and teach us when in fact the entire syllabus of that subject was printed in a text book. We learn from others- mentors, fellow traders , friends and family. We also learn from our own experiences. There is no other way to learn
Vtrender has an ecosystem in place for many years now helping traders trade the markets better. Indeed we let our experiences guide you in your decision making and we do this live every session from 9.15 am to 3.30 pm in the Vtrender Trading Room. We analyse and call and trade the market as it moves and the best education in the markets is seeing a process live. Know more about what we do at – https://vtrender.com/trading-room/