Top 3 reasons why Live Trading is the next BIG THING
Trade & Teach Better with Live Trading
Investing in the markets is a long-term way of building the corpus for retirement or any other big expenditures. But it cannot supplement your daily income. For that, you have to trade. Trading will not only help you make lucrative short-term gains but if done the right way, can add to your current job/source of income.
The catch is that it is difficult to master the art of being a profitable trader given the prevailing volatility and complexity of the markets. Taking guidance and having a solid mentor is inevitable if you want to make a mark here while at the same time stress should be on the source and how you’re learning to trade.
There is one way, however, that solves both these problems. A place where investors can learn trading on the go and take guidance from experts - LIVE TRADING.
Live trading is when a trader shares with you, live, the way she/he trades.. A trader just shares her screen and streams it so that the live audience can see how she conducts the whole process while at the same time explaining her moves and taking questions from the viewers.
Here is why it's a game-changer for both, investors and traders:
Understand the process
An easy option for someone who wants to trade is to procure stock tips from various places with different experts, and trade based on their calls. The common difficulty here is that, by the time one identifies the right expert, time and money are lost. Also, even if you find a good one, it's not ideal to rely on a single person's tips all the time.
Why not see the trader do it live? Not only will you learn the strategies that professional traders use to set their trades, but you'll also know the process behind the identification, buying, managing, and selling a security.
Know the tools used by experts
Any successful trader lives by his set of strategies and tools. No, I don't mean the technical setups of multiple screens and other expensive electronic gadgets. Tools in the sense of screeners, indicators, and other mechanisms which help a trader identify and manage trades. Traders don't disclose such things while just sharing tips and it's cumbersome to search for these all by yourself. But during live trading and mentorship sessions, an expert tells you which tools he is using because it's a crucial part of the explanation of his strategies. You can take advantage of this information and even learn how to use them the right way.
Learn how to execute
A common scenario is a new trader not being able to implement what he's learned. Theory can help you to a point, but executing the right way is where it all boils down to. A live session helps you counter just that. Since the trade teacher takes you through the whole process of identifying trade opportunities, entry points, how to manage them, placing the right stop loss, and preparing exit strategies, you get to see the end-to-end application of what you have learned. Also, since it's during market hours, you can implement the trades right away!
Benefits for traders
Way to monetize
If you're a good trader, you should consider teaching your skills to those who can benefit from your knowledge. But, it's difficult to teach all that you know to benefit your student. You may be able to teach all the important concepts in theory, but teaching them how to use those strategies during trading is necessary. Traditional social media can assist you only to an extent since it is not tailor-made for experts like you. Here is where you can rely on live trading. It's a perfect way to monetize your skills by sharing your trades live with those who want to learn from you.
To know about more ways you can monetize your skills, check out this article.
The world is filled with people who call themselves traders just because they got lucky once or twice. And these self-proclaimed 'profitable' traders then start their paid services to which newbies are victims. There is no way for people to know how accurate a trader's calls are (except if you're sharing trades through Tribe, which displays your past performance and success rate). But during live trading, you as a trader can broadcast your trades live, share your insights on market conditions and your performance is visible too. You can also take questions from your viewers and solve them on the spot to show your expertise. It's a great way to build authority and trust with your followers and ultimately, grow your community.
Ease of sharing and managing subscriptions
Conducting these live trading sessions can be a painful task. Streaming on social media platforms and simultaneously typing out your trades is difficult for you as well as the process is slow for the learner. Tribe offers the perfect solution to this. An all-in-one integrated platform to broadcast your trading activity. Here you can broadcast your trades, share your views on market conditions and specific strategies, and continuously address viewers' doubts on the spot. You can also share your specific buy and sell calls from which traders can trade directly in just one click. Tribe also offers automated subscription management and payment integrations for seamless management of your patreons. This means no hassle of keeping a track of who paid and who didn't and sending links manually to each one of them. Payment reminders along with links to pay are also in built, that checks off the need to remind your followers to pay all the time.
Due to the ease of conducting these sessions, it'll be fairly easy for trading experts to grow and monetize their follower base. Join the waitlist today!