This lockdown could be a great opportunity for aspiring and new stock traders. They can utilize this time to add to their skills and knowledge.

If you’re a new stock trader – or want to become one – here are 5 things you should do this lockdown instead of Netflixing and possibly wasting time:

• Start following renowned and successful stock traders and market experts on social media platforms. Add them to your digital circle. Exposing yourself to their content, opinions, and hot-takes will provide you many learning opportunities.
• Enroll in a good online stock trading course. Do some research and pick a good program that ideally fits your proficiency level. Learning through share trading courses make the entire process quite systematic, efficient, and quicker.
• Find a few reliable online platforms that you can follow to get your stock market news and insights. There are many such platforms. Do your research to pick a handful that you understand well and can connect with. These are the sources that will keep you updated with the latest information and safe from the market FUD.
• Learn technical analysis. Just knowing how to trade stock isn’t sufficient. The ultimate goal is to build a high-value portfolio. For this, you need to actively learn the advanced concepts like triple Bollinger bands strategy, RSI compressions, time frame confluence, and more. The right online courses will cover these advanced concepts adequately. In addition, you must watch more videos and read articles around technical analysis. Don’t be just a beginner for too long; take your skills to the next level.
• Start taking care of your physical and psychological health. Stock trading can be emotionally draining. With their money at stake, even a slight movement in the market can cause discomfort to the new stock traders. So, it’s essential for you to be in good health. Start eating right. Exercise at home for at least 20 minutes a day.

These are five things new and aspiring stock traders should do during this lockdown.

Don’t let this period go waste. Turn it into an opportunity for yourself to learn more about stock trading and amp up your skills and knowledge.

You saw a few stock traders, audited their style, adopted their Bollinger bands strategy, and are now trading. 

Would you be just as successful as those who you’re copying?

Likely not.

And it is one of the key things that new stock traders must understand.

If building a high-worth portfolio is as easy as copying a successful stock trader, everyone would be at the top, don’t you think?

There’s a big difference between taking inspiration from others and copying their strategies.

In reality, what may have worked for them might fall flat for you. And there are plenty of reasons why, including the difference in the appetite for risks.

However, one thing that often gets overlooked is the personality of stock traders.

Different traders have different personalities. They have their own style.

When you see a profitable stock trader, it isn’t just their plan, triple Bollinger bands strategy and hard work playing in their favor but also their personality. They play around the truth of who they are.

When you try to copy them, you basically give up your strength to look like someone else. This goes against you, inevitably leading you to losses.

Understanding your personality and figuring out what kind of stock trader you are is essential. Once you know that, you can triple down on your strengths and improve the chances of you winning.

So, what’s your style? What are you comfortable with?

Do you like taking risks?

Are you intuitive?

Can you sit for hours every day and read the market trends?

Can you network with other stock traders and leverage their market expertise?

Do you need to hire a consultant or can you do all by yourself?

These are some key questions regarding your personality that you must answer before outlining your stock trading plans and strategies.

Do not copy other stock traders. Realize your own strength and comfort, and then play along accordingly. You’re more likely to win on your own unique strength vs. trying to become like someone else.