Welcome to our first Тip of the week meant for the stock traders only.
As you can see on the flyer, we have summarized our Tip of the week in a few words. For the many of you who’d like to get more insight of our advice, do read the column that follows since you’d be getting a better picture of what really means to Become an active learner.
When you start trading on our platform I assume you either start with your favorite celebrity or the person whose stocks value is the highest at that moment. Our statistics show that 70% of the newly registered traders do exactly the same. And maybe they are not wrong. If I see that Beyonce’s stocks are the most expensive ones I’ll probably invest on her popularity hoping I’d double the bitfames I’ll put. But, before doing so, you may want to take a step back and clearly analyze the market.
Why analyze the market?
You see, I am a person who loves celebrities and I have a few who I like very very much. So when I discovered Fambroker and the chance to make my favorite VIPs even more famous while I get something out of it, I decided to get the dices rolling and bought some shares based on my dearest celebrities. I didn’t really think twice. At that moment, all I wanted was to make my Taylor and Selena win the game without taking into consideration where they are in their lives now. And where were they? Selena was in rehab and Taylor was taking a break from touring the world. They weren’t that active on their social media profiles so I guess you can say they weren’t as popular as other celebrities at that time. Therefore, it took quite a lot for their stocks value to rise and earn me some bitfames.
What you can actually learn from my experience is what not to do when first starting to trade on Famebroker. Don’t rush out. You are not paying by the hour. Be patient and do the following:
1. Specialize in one or in a few fields. The terms famous and celebrity are very general in their meaning and they include different categories. If you want to be a successful trader you need to choose a certain category. So, if you follow sports news It’d be logical to pick sports and specialize in that department only. If you were to focus on one thing only, success is inevitable.
2. How to analyze the market? Since we are talking about stocks based on celebrities you have to know who is popular and whose popularity may rise very soon. You need to investigate and read, and follow a lot of celebrity news. Find out what they are doing, and what is the next thing they will do. Based on all of this you will get to the next phase called ‘instinct’. But keep in mind, your instinct should also tell you whether the next best thing your chosen celebrity will do, is big enough to rise their popularity and raise the value of the stocks you have bought making you weight more.
3. Consult with your broker. Once you know in your gut that your decision who to buy stocks on is the right one, get in touch with the broker you have chosen and discuss your decision with him. Brokers are there to help you when you have doubts and fill you in with the latest updates of the social activities of the people whose stocks you want to buy. It is always a good idea to have a second opinion, right?
By following our Tip you’d be able to increase your bitfame income to a higher level. You need to constantly follow your chosen ones and keep track of their popularity. That is how you will analyze the market and discover opportunities that others may not see it since they are yet to come out. If you try reading between the lines you have the chance to be among the first to discover a new way of how to play and earn a higher income.