If you’re a successful day trader, you may have had some help along the way from other traders on their YouTube channels. If so, you’ll also know that the advice on YouTube can get confusing, as not all of it is good. So, if you’re a full-time day trader that has been considering starting a YouTube channel, here are a few reasons to help push you over the edge!
As you’ll likely know, navigating the world of day trading advice on YouTube can be like stepping through a minefield. Some of the information is accurate, but some of it is bad advice, or even a straight-up scam.
However, with your experience you’ll be able to share advice and tips that have actually worked for you, and direct people away from bad advice and scams.
For that same reason, all that bad advice is going to mean that once the people looking for genuine help find you, they’re going to flock to you. You can quickly gain authority in the niche, while others are much more difficult to gain traction in.
If you’ve been thinking of putting your knowledge into something like a book, you can use your YouTube channel to direct people to your blog or to buy your products. This can be a great source of additional income.
Alternatively, you may decide coaching others is for you, in which case you can give people a taste of what you teach your mentees one-on-one or in groups in your videos and advertise your services, whether that’s virtual coaching or a weekly insiders’ newsletter.
It’s also worth noting that YouTube is great for SEO, because it’s actually the second largest search engine behind Google, which will also show your videos as results for related search terms. This is a great opportunity to drive traffic to your website or gain new subscribers with keyword-driven video titles.
To further the point above, even if you don’t want to sell a product to your followers, the passive income you can generate from your videos is a great additional income stream, that can continue to pay you for videos you uploaded years ago. While a minor income compared to your trading, it’s a nice bonus when sharing your knowledge.
You may prefer the idea of creating a blog post and screenshots of what you’re doing, and that’s fine, but video is a much better way to show your followers what things should look like for them – as much as is possible for day trading – and react in “real time” to what you see in front of you.
Due to the scams and bad advice, those looking for legitimate help in learning how to day trade are understandably sceptical of new people they find online. Blog posts are one way to develop trust, but being able to show the platform and your results in your videos helps develop more trust with your followers.
If they see what you’re doing and that you’re the real deal, they’re that much more likely to tell someone else about you or purchase something from you. Even if you aren’t selling a product or coaching now, you could keep your options open for the future.
So, if you’ve been considering starting a YouTube channel and are a full-time day trader, there’s no reason not to go ahead and try it! While uploading regularly is the best way to gain a following, you can simply upload when is convenient for you until you decide if YouTube is something you want to be dedicated to or simply upload to for fun.
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