Although I’ve already posted an article on the site, I wanted to post something that is more along the lines of basic traders. I also wanted to post a video here that I loved and helped me very much when getting started. That’s below and I highly recommend you watch that before going any further with either your business or investing journey.
Also I wanted to outline quickly the 1 point I wish I had learn when I started investing and that’s the following: LESS IS MORE.
I don’t mean less knowledge, research or any of the difficult stuff, I simply mean you should be making less trades. The reason many people make a loss when they start investing is they being to think they can actually make 100 trades a week and still be profitable. Sure you might be able to for a very short period of time, but long term you are just throwing money away.
The #2 on the I wish I knew when I started list is the following – Information overload is a killer of action. By this I mean that just because you are researching and collecting knowledge, that doesn’t necessarily mean you are making the most of it. Research without implementation is nothing. Research with smart implementation is everything…. And that applies to anything in life.
Physical Premises – Tip 3
This is one I’m adding a few weeks later after having this exact issue myself and that’s security of premises that you are working from. If you think about the amount of money you can make from trading, then you know that there is also a lot of money on the premise where you trade. For example whether this be in technology, such as multiple computers on the premise or whether that be in bank or safe locations.
The issue is word gets out that you have money and then security becomes an issue. I read a blog post on key fobs and their uses about 3 weeks ago and have since implemented this into our building. The reason? Even if we are robbed, the difference is we know who is to blame, for example every employee has their own fob, meaning they would have to give this to someone for another individual to get in. If this happens and a theft happens after you have entered the building, then this becomes your fault and hence you are responsible.