Trading is hard work.
The best traders employ a rules-based approach and ignore the noise.
And they also learn to focus upon their preferred trading niche, rather than trying to become an expert in every area of stocks and ETFs.
By a “niche,” I am referring to those segments of the financial markets that are best suited to your own experience, education, interests, and temperament.
There are many “hot” trading niches like blockchain, cybersecurity, artificial intelligence, fintech, robotics, and many more. As a trader, you want to find an area of the market to focus on and learn over time. Below you will find a downloadable worksheet that will walk you through choosing your own trading niche.
PDF Worksheet: Choosing Your Trading Niche
While I have personally had a variety of trading niches over the years, today I mostly focus on the Nasdaq 100 index. (The Nasdaq 100 is a stock market index composed of 100 of the largest non-financial companies listed on the Nasdaq Composite Index.)
I own the Invesco Nasdaq 100 ETF (QQQM) as a core long-term investment holding in my retirement account. My position in QQQM is a long-term investment with a 15+ year time horizon. To amplify gains in a bull market and minimize losses in a bear market, I trade a combination of options and leveraged ETFs, while holding my core long-term position. |