You know the best way to learn?
Not hear what the person is saying but rather see what they are doing.
So, if you’re looking to learn more about stock trading and get good at it, it’s a better idea to look at what other successful stock traders are doing. It would disclose you practical and actionable insights, enabling you with higher rewards.
To help you get a head-start in that process…
Here are a few things what the smart stock traders are doing during this quarantine:
1. Taking care of their health
Many stock traders overlook their health. And it’s a serious concern.
Sitting in front of their computer screen for long hours with little physical activity, they hurt their health.
In fact, we wrote an entire post on this a few weeks back. Read A Health Guide For All The Serious Stock Traders.
This quarantine or lockdown period has come up as a boon for many. Especially the stock traders who also had a full-time job, with their day job shut for a period, many of them are heeding to their health.
And this is essential!
Better physical and mental health, in the end, plays a key role in the success of a stock trader. For instance, if you’re stressed out all the time, you’re more likely to make mistakes in your trades.
This downtime has brought stock traders the needed time to think over their health. And many of them are using it well to become healthier.
2. Making the most of this slump
The ongoing health and economic crisis have brought countless challenges for virtually everyone in the world. However, under the cover of those challenges, there also exists a series of opportunities… opportunities even for stock traders that the smart players are already tapping on.
With the price of stocks of even the top companies down or going down, this might be a great time to buy them. And that’s what many are doing it.
But, of course, in these challenging times with risks so high, stock trading isn’t easy. The amateurs who lack adequate experience and technical expertise, they are more likely to lose money.
So, do not rush into stock trading in this quarantine when the economy is struggling and the market is highly volatile. Foremost, have a thorough plan, strategy, and risk management.
Please give these two posts a read before going ahead:
3. Investing in to learn more
For a smart and successful stock trader, learning never stops. It’s an ongoing process. But this quarantine has brought them a bright occasion to amp their learning and be more proactive about it.
Many of them are working to upgrade their stock trading skills and knowledge.
They are going through advanced stock trading courses. They are learning more about technical analysis and advanced concepts. They are consuming more of relevant stock trading resources – from expert articles to videos to books.
If you’re a beginner, this is something you must do too.
Use this period to improve your stock trading skills. Learn… and then learn more. Enroll yourself in advanced stock trading courses. Explore the web to discover rich resources to consume. Talk to experts; consult them.
Also, learn from your own previous trades. If you maintain a trading journal, go through it to find insights into your trading style and habit.
There are many ways to learn. Try all the effective ones and make yourself a better stock trader.
4. Networking with other stock traders
Networking with other stock traders is incredibly helpful. Yet, it remains an undermined aspect for many new stock traders. Are you one of them?
Some time back we published an article on how you can build your own team of stock traders and achieve big. Go here to read.
Many smart stock traders are using this quarantine time to (virtually) network with other market players. A key part of the process is engaging with other traders, listening to their opinions, experiences and hot-takes, asking them questions, and discussing emerging trends.
Talking to other stock traders is an underrated way to learn.
Start networking with key people in the industry. On the back of your regular conversations, in just a matter of a few weeks, you would notice an increase in your knowledge base. That’s because you decided to engage with other stock traders.
5. Preparing for the AQL
After-Quarantine Life aka AQL is going to be different. A lot would have changed; a lot more will continue to change. Many public companies will struggle across industries. In that midst of that, there would also be unlikely winners who would keep traders hooked to the market.
Adequate preparation should be made for once we’re past this crisis and are in the “new normal”.
And that’s what many smart stock traders are doing… preparing for AQL. They are auditing their previous trades, optimizing their portfolio, and making newer strategies. They are outlining newer goals that bode with the trends and circumstances of the now.
That’s what you should be doing too. Use this crucial time – when high market volatility might make it difficult to trade – to prepare for your after-quarantine life as a stock trader.
These are five things that smart stock traders are doing this quarantine.
What have you been up to all this time?
Make the most of this period!
If you’re really serious about being a profitable stock trader and build a high-worth portfolio, use the time you have in hand to improve your knowledge and skills.
What other successful players are doing are just examples to get you going. What you should be doing during this quarantine depends on your proficiency, needs, and goals.
In any case, do something. Make sure that once we have survived this crisis, you have emerged as a better stock trader.