Trading is exciting and can be so much fun when you know what you are doing and are profitable. However, the nature of trading can make it boring and monotonous because you have to sit in front of your screen all day, analyzing charts and making decisions in solitude. This can bring about loneliness.
As you open an online trading account to begin your trading journey, you need to learn how to network with other people as you progress. It would help to consider making friends and knowing when to strike a balance between sitting in your closet, staring at the charts all day, and saying you’ve had enough; it’s time to relate with the outside world.
This guide will share tips to help you network with other traders and make your trading career more exciting.
Tip 1: Join an Online Trading Community
The first way to overcome isolation as a trader is by joining an online trading community. This is a sure way to overcome loneliness as a trader. Trading platforms such as Trading View, Forex Factory, and BabyPIPs have distinct communities of traders where you can join and introduce yourself to others, learn, make good trading decisions, and also look out for people giving good trading decisions, and afterwards, network with them.
An added advantage to joining an online trading community is gaining online credibility with other traders. This allows you to network with them in real life, host webinars, and perform other mutual tasks together.
Tip 2: Attend Trading Conferences, Expos, and Meetups
Numerous trading conferences, expos, and meetups are held in various countries, some internationally, others locally. You can use this opportunity to link up with other professional forex traders. You may meet a person or different people willing to network with you or share the same ideas with you.
You should find a way to network with them online by getting their contact, social media handles, etc. Doing so will allow you to reach out to them and develop quality relationships.
To keep up with the information about such conferences and meetups, pay attention to the news and events your broker projects (especially if your broker provides such information on their platform), discuss with your mentor, follow the social media pages of various trading platforms, and take notes of local meetups that occur in your state.
Note: When you attend conferences and meetups, one crucial requirement is that you build trust and be genuine. In the trading space, you must make sure you’re genuine with the people you’re connecting with, tell them your positive and negative stories, and don’t try to fake what you’re not. Be open about your status as to whether you’re a beginner, intermediate, or professional trader, and also be open-minded to hear their story and learn from them.
Tip 3: Consider Collaborating on Trading Projects
Being a lonely forex trader limits a trader’s choices, but trading with other trusted traders and partners increases the profitability of a person and provides a better chance to earn greater rewards. Situations where forex traders come together to create projects, such as developing a trading academy for newbies, creating a platform to fund other traders, and presenting challenges to help other traders become profitable, can help you get rid of being isolated and give you a purpose that has a positive impact in the forex community.
Building a strong team of connected forex traders with similar ideologies will always be an advantage rather than a disadvantage because there is always a limit to what a single person can do; people are not always perfect, traders included, and it is in your best interest to have partners that can help in reaching goals that might be too big for you to embark on.
Collaborating on traditional projects helps reduce boredom and loneliness. It gives you time to get off your trade station and meet with people to share ideas and creatively develop projects that can stand the test of time. The collaboration will help you merge resources, ideas, and strategies with other professional traders and eventually make a renowned name for yourself.
Trading doesn’t have to be a lonely business. You can make it engaging by networking with other people. Although networking comes with its headaches, when you network with the right people who are not jealous of your successes, people with whom you can monitor each other progress helping with risk management, trading management, and money management plans, it will be very enjoyable in the long run.
Ensure you are building a healthy connection. Be with people with a healthy mindset, people with whom you share the same ideologies and class. This will help you get a very good connection at the end of the day.