Different Methods To Improve Trading and Investing Skills: YouTube And Social Media

YouTube

This is the method which I personally preferred over reading books. I am into visual learning and I learn and remember more through sight and sound. There is so much stuff we can learn from YouTube videos at this day and age. This applies to non-investing/trading stuff too! A lot of videos are 10 mins or less. We could just search for the topic which we are interested in and a list of videos related to our search immediately appear. This is quicker than making a trip to the library or a bookstore. Even better, watching and learning through YouTube videos is free. We can even watch CNN and Fox News Live on YouTube! We can also search for book reviews and summaries on YouTube before buying the physical book.

Social Media

Social Media refers to online forums, blogs and facebook groups. These groups could be free or paid to join. However, members of these groups and forums are from all walks of life. They could be very experienced or inexperienced in investing and trading. They could also be short-term or long-term investors. These members could also look at a company from a different approach, e.g TA or FA. Someone may say sell for a company while another see buying opportunity. If you decide to join such a group or forum , do not buy or sell just because someone says so. Always do your own analysis. This also applies to the companies that I mentioned buying or selling in my blog. Don't follow blindly. These groups and forums are useful to generate trade/investing ideas. We can learn of companies which we never hear before. However, always dig deeper and do your own research. Don't buy or sell just because some stranger on Social Media says so. One downside is there could be a lot of "noises" in such forums/groups. Everyone has their own opinion about the Market or certain companies. There could also be bashing when you share your opinion and someone could challenge you. I usually ignore such challenges and let readers decide for themselves. Only time would tell who's right and who's wrong. It is meaningless to argue over some uncertainties in the meantime. Some forums also allow you to follow someone. When he/she creates or replies a post, you will be notified.

Blogs are generally less "messy" compared to forums and facebook groups. However, you will only get a single person's view compared to diverse opinions. Similarly to forum and facebook groups, always plan your own trading/investing decision and not follow some blogger's opinion blindly.

To Be Continued...