Your One-Stop Destination for Being a Star Trader
There is a common misconception about trading that it is easy money. That’s certainly not the case. People often compare trading with gambling, which is not at all justified. Gambling is all about luck where you invest a little money and test your luck for generating revenue. In case of trading, it is not about luck. You need to have good analyzing skills for making profitable trades.
There are several types of trading methods. The conventional methods involve the buying of stocks, holding it for a few months or even years, and then selling it at a higher price for making profits. Conventional trading methods involve a lot of risk as the time duration is too long (anything can happen during this time). A lot of people incline towards day trading because it involves buying and selling of stocks within the same trading day. Day traders hold the stocks for several hours and then sell them at a higher price for generating profit.
Requirements for being a Successful Trader (Both Long and Short-Term)
There are several things that you need to become a good day trader. They are:
- You need to have proper in-depth knowledge about the financial markets. If you start trading without having adequate knowledge, you can never make it big as a trader!
- Once you are done learning about the financial markets, you need to have access to a brokerage service, so that you have access to all the tools. A brokerage service also allows you to practice trading on a simulated platform before you actually start trading.
- You need to have good analytical skills, so that you can analyze the market movements. You also need to predict the direction in which the market will move. This will help you to identify the profitable trading opportunities.
- The two most important things that you need to have if you want to become a successful day trader (short-term), is discipline and alertness. You need to stay disciplined and keep a close eye on the market movements. If you think it is just a side hustle and you don’t need to invest much time, then you won’t be able to spot the opportunities. You need to be disciplined and also be alert about each and every breaking news that comes up every now and then, because they can really have an impact on the market movements.
How Can Robinhood University Help You?
Robinhood University is your one-stop destination for being a successful trader. You can check our Instagram page for having a brief idea about what we can offer you. Also, we have a telegram group that you can subscribe to, for getting the following benefits:
- You are going to receive all the stock breakout alerts.
- You get to connect with 1400+ stock traders.
- You will receive personal assistance on a daily basis.
- You will receive every update about the current news.
This group chat is beneficial for both long-term traders as well as short term traders. The group will get automatically locked after it reaches 10,000 members, so hurry up and get your subscription here – https://linktr.ee/robinhooduniversity.