Is it good to check the market regularly?

in hive-175254 •  2 months ago 

I would say that it is definitely good to check the market more frequently to be on top of it. I have one of my friends who is so into share trading and he keeps checking the market and reading about various companies and strategies associated with trading etc more frequently. I used to wonder how can someone be so involved, the reason could be because it is something that involves money.



The first resistance that I get in my mind is that money can make us go mad, so we should be very careful in dealing with money. The second thing is that we can look forward to doing investments and watch our money grow but it shouldn't be a gambling thing. This is what I personally feel about money. I don't know from where I caught these thoughts but this is how my mind accepts things. I'm not going to say that I'm someone who is not fond of money at all. Even today if someone is ready to take care of my lifetime expenses, I would stop working and start doing things that I dream about.

I guess I'm deviating so much from the topic. Let's get back to the topic. There are both advantages as well as disadvantages in observing the market regularly. I would like to list out one by one and explain what I feel about it.



Gives good earning opportunity

When we keep observing the market so frequently, it is quite natural that we will understand when will be the right time to enter the market and when it will be the right time to get out of the market. This is something that we can gain only from the experience. In order to gain that experience, we have to keep observing the market quite often. Successful people in the share market usually say that we have to stay in the pond like a crane looking for the right opportunity to catch fish. If we lose the opportunity we might end up in a loss.

There is also another perspective where we have to go with the trend. By looking at the market frequently, we will be able to understand the whole trend. One common thing that every trader will know is the fact that the share market will have a dip when the price of gold increases. The same happens in reverse as well. When the price of gold decreases, it becomes a good opportunity for the market, and stocks will see a surge in the price.



Control the temptations

Usually, when we have more focus on something, we tend to show more involvement. The same happens with the Share market as well. When we observe the market so much, there is a high possibility that we end up purchasing something. Because of the curiosity and temptation, we may not even know if we bought the stocks at the right time or not. I have had this problem. To be honest, I still have that problem. When I keep observing the market or a particular stock, I have this bad habit of purchasing it instantly when I feel it is good. But the stats may not be right at the time of my purchase and I will end up in a huge loss.

When we are observing the market, we will need more patience and we have to just be an observer and not get tempted to purchase quite often. Look for the right opportunity and then jump to reap the profit.



Frequent market checks increase knowledge

One of the biggest advantages a person can have by observing the stocks regularly is knowledge. This is something I have personally experienced. For instance, I have observed a few stocks from my watch list. Even today if you ask me to give one page write up about those stocks, I will be able to give. I can also tell when is it a good time to purchase those stocks and when it is the right time to exit from those stocks. So, on a very positive note, observing the market regularly can increase our knowledge and experience though we cannot predict everything perfectly.

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I agree with your final thoughts: checking the market frequently can increase our knowledge.

Obviously you will always need an initial education. If you do not have someone who can instruct you in your first steps, you can always review many pages and blog with useful tips.

Binance has a page thatlops call "Academy" with very useful advice. Here I share the link:

I have a very personal opinion about the constant review activity: It causes too much stress.
Trading activity is particularly stressful. Apart from that, it is extremely interesting.

Yes, I completely agree with you on that point that trading is an extremely stressful activity and somehow people manage to find it very interesting. But in order to keep it interesting, I guess people should know the fundamentals and have the initial knowledge as you said. Without that initial knowledge, things can get tougher. Thanks for the comments.

I think that it depends what is your trading strategy. I've been rather a holder of assets and I realized that it was best not to check the markets too often because it lead me to do things that were not rational. So for my strategy it is best not to check the markets regularly and let my assets sleep...

Yes, I agree with you as well. Sometimes it is good not to check the markets regularly. Might contradict what I have said in my article but at times it becomes a strategy of some people. But try not to miss any opportunity by not checking the market regularly. Thanks for the comments.

The market is one thing to always check so as to understand how ones investment are doing as well as speculate the future contract of commodities

Yes rightly said. Thanks for the comments.

I think it is good to frequently check the market. It makes you aware of recent updates

Yes true and it also gives us an idea about how we can plan our future trading. Thanks for the comments.

As a trader or investor, either on stocks or in cryptocurrency, it is important to know how the market is moving all the time and in most cases understands what makes the market move up and down

Yes investing without knowing the trend is like driving a car by closing the eyes. Thanks for the comments.

Well written...I prefer to check but that checking does not influence my decision. I have developed that habit after long years of trading. I avoid many temptations also. :)

Thanks for the comments. Yes true, checking may not affect the decision but at least it will give us some perspective about when to enter and when to exit. 😃

I think its more everyone's choice. some people like it check couple of times every day to keep a track on the market and some do it quite less. I believe checking it frequently is a good idea because this way we are aware of the market movement and it is always good to know more about it. Nice post.

Thanks for the comments. I have been observing the crypto markets only recently. The price of most of the top cryptocurrencies is by heart for me now. I guess having it in my mind helps me a lot to do trading if I wish to. The regular market watch helps me decide when I should be entering and when I should exit.

You are very much correct and yes, keeping a regular track of the market let us know when to enter and when to exit. Nice advice my friend.

You are welcome. :-)

I strongly corroborate with your points on the benefits of checking market regularly most especially when you made mention of a chance to increase one's income. The fact is that the more informed you are about the market rate, the more knowledge you have about how the market operates and the more your chances of earning more income.

I will also love to add that stock market isn't really the only market trend we should be checking out for. We also need to check out for crypto market. It really depends on what you are actually operating be it crypto or stock but the fact is that you just have to be more knowledgeable about how the curve works and the best way to go about this is by regular checking of the market.

Thanks for sharing this great post with love from from@hardaeborla and I hope you have a great week ahead 💕❤️💕❤️💕❤️💕

For steem and sbd I check regularly but stocks, Oh no I 100% blind about it. I think for stock trader it is a kind of fun because I do to feel the same with you that checking sbd and steem regularly give me opportunities to make profit because I will know the fluctuation limit of the market. I like to trade steem and sbd in the platform.

Yes exactly. Checking them regularly creates opportunities. The value of the crypto or share price gets registered in the mind and it will let us decide which price is best for purchase. Thanks for the comments.

This post has been rewarded by the Steem Community Curation Project. #communitycuration06

Thank you so much for the curation.