Wednesday, October 24, 2012

Why traders should have a blog: best 4 reasons

1. Network with other traders

Trading is a solitary activity. By writing about it, you'll interact with others and you will avoid boredom, the first reason for over-trading. I had also joined chat-rooms and several forums to see what others are saying. Following their tips is optional but the level of  intensity in discussions gets really high when trades go to the extremes, being wrong or in the right direction. I find the sports trading community willing to help others, perhaps because it's a difficult thing to learn and everybody had the same problems in the beginning.

2. Develop your knowledge

The comments that ask for your opinion will test your knowledge. Many times I joined a conversation on other forums when somebody commented a post of mine about a strategy. I had to explain it and I discovered future opportunities after reviewing. It reminded me about the reasons why I made mistakes and talking with others revealed me how to avoid them.

I know my English is far from perfect. It's not my first language, actually it's only third. But I try to use it as many times as I can when and it has never been an obstacle for my learning process. Others are more experienced than me and half of my knowledge is made from articles online. Blogs are the best way to get an opinion from an experienced trader for free.

3. Determination

Even if you have a daily spreadsheet, writing in detail about certain topics that interest you in the blog is a better approach because of the comments  received. It also involves a commitment for your readers so you'll learn to avoid making the same mistakes again. If you keep posting it means that you are happy with the results and you have something to write about. The small number of blogs that lasts more than several months reflect the actual number of successful traders. They are only a few, I'm not one of them yet but I see no reason to stop trading or blogging in the close future. Now I feel my trading is heading in the right direction and it's easier to write when the results are good.

4. Earn money

This is the last reason but it must be included here because you can make money while you write about something you like. If you have some products that you genuinely want to recommend you can get a commision. Google Adsense is a good way to make some money if a visitor clicks any ad on your blog. However they don't accept betting related sites, but there are many other ads networks. I like Viral Ad Network, they have some nice commercial videos. What you earn can pay some subscriptions. This niche is not the best for advertising so the main concern should be the trading p/l. Looking at google analytics stats my blog has over 60% new visitors form search engines, they read scalping instructions and leave. I don't want to annoy the blog followers so I have ads only on those pages.
Many times things don't go as we expect and in those times the blog will be a to go forward.

3 comments:

Anonymous said...

thanks for sharing.

Jack Hobbs said...

please keep sharing of knowledges with us.Thanks a lot for your great posting.
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Jack Hobbs said...

wow, awesome article post.Thanks Again. Really Great.
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