In a lot of ways, being an investor is like being a surgeon. Both require a great deal of precision and caution, balanced by taking calculated risks that are either life and limb or bank and bust. Of course, being a surgeon takes a lot more schooling and involves a lot more blood.
But when I speak to my doctor friends, I notice another overlap: the need to constantly keep re-educating yourself in order to stay at the top of your game. In both fields there are new techniques, new studies, new analyses to stay on top of. A good surgeon, much like a good investor, never really takes time off. That’s why they demand, and earn, so much respect.
After years of trading, I felt I needed to get creative in order to keep learning. Of course, I give the deserved time to newspapers, webinars, TV shows and the like, but these following methods are how I stay invested in learning about investing.
- Prop Trading
Why take big swings with my own money when I can better learn the markets while using other people’s money? Yes, the take is smaller, but the risks are mitigated, leaving me in the clear if something goes wrong.
Personally, I use Try2BFunded for all of my prop trading endeavors. There are a lot of reasons to like Try2BFunded over its competitors, but the main one is obvious: the take home is massive compared to most prop traders. With 60% of the profits coming my way and access to up to $100,000 in capital, Try2BFunded is a fun way to experiment without putting my bank account at risk.
I’m then able to put the riskier strategies into action on my own portfolio. The true definition of a win/win.
2) Learning Analytics
I should note, before I go any further, that I’m not a computer person. I know how to do all of the basics thoroughly, but I’m an absolute goon when it comes to anything involving programming or algorithms.
That’s why services like Chaikin Analytics are an absolute godsend. By crunching huge data on my behalf, I’m able to get an easy read on any stock I can think of using the Chaikin Analytics PowerGauge. Simply laid out for fast comprehension and digestion, their system is one of a kind and saves me tons of leg work.
On top of that, Chaikin Analytics offers streamlined newsfeeds, morning bites and in-depth editorials to help keep me informed.
3) Engaging With A Community
The beauty of the internet is how available the world becomes once you power on your computer. That’s why I encourage all of my investing friends to use sites like StockTwit, Twitter and the Score Priority Club to create an active dialogue with other traders.
Trading from home can become an incredibly insulated experience. And that can lead to an echo chamber of thinking. And that can lead to stale trading.
Build a community of your own to keep your learning alive.