Trading is a zero sum game, which means that for every winner there’s a loser. The markets are highly competitive as everyone’s top goal is to take your money. As a trader you’re going up against institutional investors, professionals, algorithms, insiders, exchange operators, whales, pumpers and dumb irrational money that defies logic.
Most traders lose money, to survive in this jungle you need to have an edge. Joining a professional trading room has many benefits that may increase your win ratio and keep you in the game.
#1: Quality Environment
Not all trading groups are equal. There’s a huge difference between troll boxes, public forums, pump groups and a private professional trading room. On public chats everyone is still your competitor so don’t expect that people have your well being at heart.
Troll boxes are notorious for shilling coins that favour the trader’s position and they are usually run by dumb emotional money. Public forums like tradingview often give better analysis because traders want to build their reputation for accuracy. Pump groups are run by people who trade against and fleece their members.
A professional trading room is run by traders who have a vested interest in making sure their members succeed and make money. Logic states that if the members of a trading group are consistently losing money then nobody will stick around. Usually if a private trading community is growing with active members it’s because people are happy with the service.
#2: Being a Part of a Trading Team
Private trading communities are like being on a team that competes against the rest of the markets. Members of the community will often share technical and fundamental information that can be overlooked.
Many minds coming together as a community can give traders an edge. This differs greatly from public forums where every trader is out for themselves and may purposely mislead others with false information.
#3: Learning New Strategies
There are different trading strategies to make money in most market environments. Each trader has their own particular niche where they excel and can offer insight on their techniques. Often the teachers running the room are available for private coaching and will answer any questions.
A good trading room will have presentations anytime there are major moves in the markets. Often big trades are planned weeks in advance with precise entries and exits.
To learn more about trading and be a part of a professional community feel free to join our cryptocurrency mentoring program.