December 31, 2017

To Follow or Not Follow: Are You the Next Warren Buffet?

Chartify enables day traders to compare their stock portfolios against major stock indexes as well as other traders and rise to the top. Novices can follow top traders and gain new insights about how to improve their own performance, while top traders can charge followers a set price and gain an additional revenue stream each month.

Regardless of your level of experience and success, remember that every top trader was once a follower.  While there is no guaranteed formula to become the next day trading wizard and pull fortunes out of your hat, some of the most successful investors in the world have attributes in common besides a magic wand.

What are some of these attributes? We’re glad you asked.

  • Confidence — Warren Buffet once said, “I always knew I was going to be rich. I don’t think I ever doubted it for a minute.” Since his estimated net worth is now $84.3 billion, Mr. Buffet’s confidence in himself was well placed. Success in day-trading requires that you to stay focused and believe in your decision-making process. If you are indecisive or prone to panicking in high-stress environments, you may want to try swing trading or investing, or maybe just collecting stamps.
  • Focus — Day trading requires laser focus. Since you are building your overall profit from many small trades, you must be willing to hit the computer as soon as the sun comes up and stay there until it goes down. Because if you’re not trading, you aren’t making money.
  • Eagerness to learn — Whether your goal is to build an impressive stock portfolio, or to try your hand at scalp trading, you must have an insatiable appetite for knowledge. Trends constantly emerge, and in the age of AI, new software and algorithms compete at speeds faster than a speeding network. So, in order to succeed, you must be ready to change styles on the fly and adapt with the market.
  • Passion — Many of the wealthiest investors got where they are today because they love the game. If you hate trading—don’t do it. End of story. But if you thrive on risk and enjoy sitting in your pajamas with a cup of coffee in one hand and a mouse in the other, day-trading might be your passion.
  • Perseverance — To be a successful day trader, you have to forge onward in the face of losses. You need to be realistic about your goals and the amount of work to put in each day. And you need to get back up and resume trading no matter how many times you fall down.

If you’re a competent trader, by joining Chartify, you can help other would-be day traders learn the ropes. And you can even earn a steady profit from each follower you gain. No matter if you’re a seasoned scalper, or just getting started with day trading, Chartify can help you improve your stock trading performance.

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