The kind of people you hang out with the most can influence your stock trading success.
If you’re spending your time with successful traders, it will inevitably steer you in the right direction, improving your trading game and unlocking you opportunities in aplenty.
This is one big reason why you should be friends with stock traders.
Recommended Read: 4 Reasons Why You Should Be BFF With (Good) Stock Traders
But now comes the question: What if you don’t know such people? What if you have no (good) friend who is into stock trading?
A simple solution here is to build a team of stock traders.
The difficult solution is to build a team of stock traders.
Here are 3 tips:
1. Attend events and workshops
Events and workshops on stock trading are a great place to meet new (and relevant) people. So, whenever you find one happening in your city, attend it.
Of course, to get better rewards, you should have good networking skill.
But even if you’re not particularly fluent in communication and meeting people, give it a shot.
Networking and collaborating with the right stock traders and investors can help you find many opportunities.
2. Google out a good community
Internet is filled with small and large communities on just about every topic in this world. Google to find one such community on stock trading.
You will find many websites, Twitter groups, subreddits. Do your research thoroughly, find more information on relevant communities (the team members and the kind of support you can expect), and then select a few that best fit your needs and goals.
Staying connected with motivated traders even online, through your phone, can have a significant effect on your trading approach.
3. Get in touch with a consultant
There are many benefits of working with a consultant or an expert. Not only do they assist you in every stage — FROM creating trading plans TO executing a strategy — but they also open you to many other stock traders, market insights and networking events.
Most of them also have their own groups that you can sign up to join.
So, look around and find a good consultant.
Having the right people around can keep you smart and motivated as a stock trader.
In the same breath, also know just like you’re looking to befriend stock traders, others are looking for the same thing. And this is where it gets tricky.
Just like you want only good traders in your circle, others want the same. Meaning, if you’re not bringing anything substantial to the table, very few good traders would want to associate with you.
So, before you go about looking for and building a team of stock traders, make sure you’re at least decent at trading who others would want to stay around with.
Look around for stock market courses for beginners if you’re just starting in the game. If you’re a pro, find a stock trading course that focuses on technical analysis. Invest in your knowledge and skills.
Remember, if you’re good, you will attract good. Meaning, if you’re a good trader, you will attract alike individuals. If not, either you will have no team at all — or you will have people who are mediocre at trading.