Why You Must Use Discord When Learning Day Trading
Day trading can be challenging for new traders. There’s a lot to learn. But with education and practice, you can learn how to day trade well and turn it into an additional source of income.
There are thousands of platforms online which have been used by day traders to share their knowledge and communicate with each other. However, discussions have been going on for a very long time regarding the platform which brings the most benefits to day traders.
What are the Different Trading Platforms?
The popularity of online trading communities boomed when the coronavirus pandemic hit the world in March 2021.
Platforms like Twitter, YouTube. Instagram, Skype, Telegram, Reddit, TikTok, Facebook, and Discord attracted experienced traders eager to teach others how to trade. Many traders have flocked to Discord because of its superior functionality to host a trading channel.
Discord was created for the gaming community. But, from 2017, it quickly caught on as an ideal platform for day traders. Traders share stock alerts, provide educational materials and stage live trading sessions on Discord and this is not the full list of benefits that this platform brings to the table.
Discord has extensive trading networks for your day trading education. You can choose a Discord server for whatever aspect of trading you wish to learn.
Why Use Discord for Day Trading?
Learning day trading on Discord is a great way to accelerate your trading success. It’s a truly unique platform to learn day trading.
Below, we have listed five benefits of using Discord servers for day trading.
Having a 1:1 Mentor and peer-to-peer engagement
With many trading platforms, it isn’t easy to engage with the person teaching. Working with a mentor can mean the difference between success and failure. You want to ask questions and engage with your mentor, but the functionality on most platforms doesn’t allow this.
Trading has a 95% failure rate for new traders. Working 1:1 with a day trading mentor helps you avoid costly mistakes and build up your trading skills.
A popular aspect of Discord is the ability to engage with other traders. You can learn from each other via real-time direct chat and video calls, even if you are on the opposite ends of the world.
Instant voice communication and real-time collaboration
Discord’s powerful technology allows global private messaging. Real-time voice communication feels like the person you are engaging with is sitting next to you. Compared to other messaging apps, this functionality makes the platform superior.
You can engage with other members via a message board or chat lobby. It’s a VoIP system and streaming service that doesn’t take up many resources on your phone or computer. You can adjust your permissions, so members have access only to what is important to them.
You can also run the Discord app in a browser which means you can access it anywhere. Even if you haven’t created the server, you can decrease or increase another user’s volume with a simple right-click.
Discord gives better access to your audience
Discord is a chat rather than a feed which means that it’s not at the mercy of the algorithms associated with other social media platforms.
If you post on YouTube, Facebook or Instagram, for instance, you rely on the platform to get your post in front of a broad audience, which often does not happen. Fans can interact with each other, which usually helps with building a solid community.
But, when you announce something new on your Discord server, it is displayed in the #announcements channel, which means all members have access to your message.
For a channel creator, this is a significant benefit and the reason why Discord is so popular.
You don’t need a massive following to be successful
Unlike other platforms such as YouTube or Instagram, users have to build significant followings to be successful. With Discord, a few thousand members in your server give you direct access to those people.
Because of the superior functionality of Discord, you have a captivated audience, and you can monetise by charging a membership fee.
What you can achieve in a short period with Discord could take years with other platforms where your message spreads thinly and it relies on people specifically looking for your service or those who are setting up alerts.
Discord servers are easy to monitor
Many YouTube channel creators are turning to Discord because it is free and easy and gives them better access to their followers. A big issue with YouTube channels is that persistent trolls dominate the comments sections.
Twitter is messy and public, and threads often get taken over by outsiders. Instagram private messages are challenging to manage, and public Instagram comment threads end up getting buried. Reddit is often perceived as a toxic environment, as are similar platforms.
The functionality of Discord servers allows administrators and moderators a high degree of control to manage potentially unruly members.
There are exclusive paid communities on Discord for day trading, which you can join for a small fee. The paid rooms may be more controlled by the server creator than the free rooms, but there are some excellent free Discord trading servers available
3 Discord Servers That are great for Learning Day Trading
There are many Discord servers for day trading, but is it helpful for day traders to join a Discord server? How do you know which are the best Discord servers for day trading?
A great place to start is to look for an established day trading server offering trading education. Ideally, a server providing a daily trade share, trade transparency, and 1:1 mentorship.
Discord is an incredible platform, growing in popularity every day. Learning day trading with a high-level Discord server increases your chances of succeeding as a day trader.
Below, we have listed three of the best Discord day trading servers which could immensely benefit beginners in the industry.
United Traders is an established Discord server and one of the largest, with over 20,000 members. It’s an excellent server for beginners to become part of a service connecting experienced day traders with new day traders.
There are chat rooms dedicated to a wide variety of trading subjects so you can choose the ones of interest to you, such as Forex, stocks, and options.
United Traders is considered to be one of the best Discord servers for new day traders. You can talk directly to the mentors via voice chat. It’s a professional, super-sharp server which we highly recommend.
Boiler Room Trading
Boiler Room Trading is a popular Discord trading server with over 7,500 happy members receiving day trading tips.
Connor Pollifrone is the server moderator. He has a wealth of trading experience with seven years of trading under his belt. He is transparent with his trades which he shares with his followers.
Connor’s most popular Discord channel is #Daytrading which has thousands of traders interacting with each other every day. Premium subscribers receive daily live audio and a daily stock watch list. He streams stock scanners and hosts a weekly webinar for his followers.
Stocklock Trading has over 4,500 members and is a superb Discord server for both beginners and experienced traders. Stelios Stylianou, the founder of Stocklock is a veteran trader who advises many thousands of traders across a wide range of social platforms.
On Discord, Stelios shares his trading watch list every morning before the market opens, saving you time looking for stocks to trade. When the market opens, he will notify you of two or three trades that he is taking.
You can find countless reviews online that indicate just how amazing the Stocklock Discord server is. You can count on a warm welcome and continuous support with all your questions and inquiries when you join the Stocklock family.
There are many reasons why Discord has been chosen over other platforms by thousands of day traders. It’s fantastic functionality along with many already established communities keep bringing more and more people to the platform.
If you are seriously considering following a day trading career it is highly recommended to join an established trading server that will help you in your journey.
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