Trading – of Lone Wolves and Team Players

Trading is a very individual and private thing – or at least it used to be. Nowadays, more and more young investors get together in digital networks to discuss various topics connected with trading. They talk about cryptocurrencies and ICOs, they interpret Elon Musk´s twitter posts or they simply calm each other down when unexpected developments cause them to worry about their funds.

Networking is great. It gives you the opportunity to connect with like-minded people. That opens your horizons and helps you judge your own situations in a more objective way. With trading, objective evaluation of the market situation and your portfolio is extremely important as it helps you keep a cool head when others might panic. In this article, we´ll show you different ways of connecting with other traders and talk about the benefits.

Discussion Forums

Today, the discourse takes place mainly digitally. Some traders prefer forums or platforms, where they can connect with others. Some traders prefer groups on social media, which have to do with trading or certain aspects of it. The exchange of experience is important for many traders – particularly for beginners. But you should be aware that some topics should not necessarily be discussed on Facebook.

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Copy Trading

 Copy trading is a kind of networking, too. Even though you don´t technically debate things with others, you can find role models and follow in their footsteps. Copy trading is a popular tool with beginners, but is also used by experienced traders. By mocking the portfolio of another trader, you learn how to evaluate the market rationally in order to make good decisions.

Of course, you don´t have to copy the trader´s portfolio 1:1. You can also do it in a smaller scale or even leave out some of the values. There is no guarantee that you´ll make profits by copying someone else´s portfolio, but chances are good that you will: The traders, who share their portfolio with you on copy trading platforms, receive a commission if they (and therefore you) perform well. If there´s a loss, they get nothing – neither from their own trades nor from you. That´s why they´re usually really eager to make good choices. If, one day down the road, you´re an experienced trader, too, copy trading could be a great option for you as well. You can better your income by sharing your portfolio with the public.

 Trading MLM

 Network marketing has been around for decades, and it doesn´t stop at trading. On your way to becoming a good trader, you´ll (virtually) meet tons of people, who only want your best and share their experience with you. If someone is so eager to share their trading strategies with you, you can be pretty sure that they´re trying to get you into a multi-level marketing trading group. Some traders love that kind of support. Others dislike the pushy behavior of team leaders or other members.

 Lone Wolves

 There are still many people out there, who believe that we shouldn´t talk openly about finances. Others don´t find it condemnable to talk about money and investments, but simply don´t trust people enough to go into a discourse with them. That´s okay. It doesn´t need a team in order to become good at trading.

Some traders do better alone because they feel less influenced or even manipulated. It´s easier for them to stick with their trading strategy and style without discussing their decisions or questions with others. No matter which model works best for a specific trader: It´s important to find a way that feels comfortable and safe for the trader. A little bit of input from other traders may still be a good idea, though, as it can broaden your horizon.