Online Trading Guide – From Side Gig to Full-Time Job

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If you have the dream of being a professional, full-time trader, you are in good company. People like Cory Mitchell at VantagePointTrading.com and Danyel Perez Novoa are just a few examples of successful day traders.

Many people share your online trading dream. You may want to give up the hassles of commuting to work, dealing with an overbearing boss and more. Online trading can be conducted from the comfort of your own home and on your own terms, and this means that you can change your entire life when you make this transition.

However, only a handful of these individuals who share your dream take the proper steps required to trade professionally and on a full-time basis. When this is going to be your full-time job that provides you and your family with a reliable and hopefully stable source of income, you need to follow a few important steps.

Increase Your Investment Capital Over Time

Unless you have already saved up, you will need to develop a nest egg over time. This can take many years to do in some cases, so be patient. The stock market typically earns a yield of approximately eight to ten percent. Day trading, such as investing in the stock market and Forex market, can produce a higher yield.

However, you will still need a substantial amount of investment capital to produce a large enough yield to live comfortably on. Because the market has its ups and downs, it is best to have a larger nest egg that you actually need to get started with.

Using online resources can enable you to learn the ropes before you put your own capital at risk. While generating a great return on your investments can help your money to grow more quickly, you also need to make plans to contribute more funds to your accounts on a regular basis.

Learn About Alternative Investment Options

New stock market investors often look most heavily at blue chip stocks. These are perceived to be a safer option because they often have a good dividend yield and the companies are usually stable and established. However, there are many other investment options that can be far more lucrative.

If you’re not sure about how much an opportunity might yield, you can always set up try out various Forex trading strategies.

The Forex market trades in foreign currency, and it operates 24 hours each day. While this can be a riskier market to invest in, it has incredible benefits and opportunities for tremendous profits. A smart idea may be to learn about investment alternatives such as this one and to invest at least some of your money in riskier and potentially more profitable investments.

At all times, your portfolio should be moderated based on your tolerance for risk as well as your need for growth.

Scale Back Expenses

If you are interested in living entirely off of your online trading income, it can be helpful to scale back your regular living expenses as much as possible. By doing so, you will need to generate less income each month to live off of. You may therefore be able to transition into full-time trading more quickly and with less risk of failure.

You can scale back expenses by refinancing and paying off your outstanding debts, moving to a more affordable home and adopting an improved lifestyle. Consolidating high interest credit cards into a lower interest rate personal loan with a fixed term is an excellent way to improve your current budget and to eliminate this debt faster.

Make an effort to scale back expenses as soon as possible. When you reduce expenses while still working at your full-time job, you may be able to save and invest even more money. This can ultimately help you to reach your goal faster.

Monitor Your Investments Regularly

When you are building up your capital and refining your knowledge in investments and trading, you likely will still be working at your full-time job. After all, you need to accrue enough capital to pay those bills.

During this period of time, you will need to regularly devote several hours each day to your investment activities. Your goal is to make strategic and thoughtful financial decisions that will grow your nest egg quickly. In the process, you can learn more about investments and trading so that you can more confidently leave behind your day job and become a full-time trader.

It may seem like you are working at a day job and a part-time evening job as a trader. This can be tiring, but the effort will be well worthwhile when you eventually leave your day job behind.

Consider Taking on a Part-Time Job

Over time and with regular effort, you may see your nest egg grow in size, and you may quickly approach the time when you can quit your day job. It is important that you contribute as much money as possible into new investments so that your nest egg can grow at a faster rate.

However, eventually, you may be able to generate enough income from your investments that you feel comfortable downsizing your employment status.

Rather than jump ship entirely, it may be wise to transition to a part-time job for a few months or even years. This way, you can continue to learn more about investments and trading. You can also have a reliable source of income to at least partially pay your bills.

In the event your trading efforts go south, this part-time job can be a saving grace. Ultimately, your transition to becoming a full-time trader can be easier and less risky with this approach.

Conclusion

Eventually, you will be able to transition to being a full-time investor. Some people think that they can enjoy leisurely days on the golf course and enjoy a life that resembles retirement when they are a full-time trader. However, this is a fallacy.

Full-time traders spend a great deal of time connected to their phones and computers. They must actively monitor their accounts, execute trades and take other steps to produce a profit on a regular basis. After all, this will be a profit that you and your loved ones need for financial sustenance.

 

9 Reasons to Use Facebook Streaming for Business

Facebook’s live video feature has opened a lot of doors for business, with plenty of organizations using it to improve the way they communicate with their market. Here’s why you’ll want to as well:

Gives Readers Insight into Your Brand

People are remarkably more inclined to shop from a store or pay for services when they know something more about the people behind the business. With Facebook’s live video, you can show your audience a side of your team or company they’ve never seen before, says Problogger. By letting them get to know you better, they gain a positive image of your company, a humanized one that makes them more inclined to spend money at your shop or on your services.

Encourage Better Engagement

People are more likely to shop from your shop or store if they’re engaged. live videos make that easy enough to pull off. Unlike emails, chats and voice calls, broadcasts offer your audience the chance to see you. That brings the communication to an entirely different level. Simply by the nature of the medium, your customers are bound to exhibit greater engagement and attentiveness.

Provide a Look Behind the Scenes

Showing customers a look behind the scenes or what happens during a particular process or what your HQ looks like can encourage just the kind of excitement that could boost conversions and sales. By going on live video, you can provide your customers with the kind of information that can make them want to go back for more.

Launch Your Products

You can use the live video feature to launch a new product or service. Cover the event and provide offsite customers and clients with a glimpse into important parts of the launch. This can generate positive buzz that could improve your efforts to market your new products and services.

Reach Out

One of the best uses of live videos is to use it to reach out to customers. Have them ask your staff

questions, send your team comments and generally interact with your customer service crew. However, keep in mind that this could also open your company to a potentially awkward situation. Best to make sure that whoever handles the Q&A portion knows how take questions and criticism well and can answer in a way that puts the company in a positive light. Otherwise, you could end up with a social media nightmare on your hands.

Do a Few Tutorials

If you sell products or services that require a bit of background, you could include product tutorials on your site. Do them via live video and you’re sure to net plenty of attention from your audience. You could also do tutorials involving issues or topics that your customers are interested in. That way, they’ll be more likely to watch those broadcasts, from start to finish.

Provide Information

Live video allows you to provide your audience with information on events that are happening in real-time. Just make sure you use the right equipment to pull this off. Facebook streaming with BlueJeans, for instance, gives you a slew of features that can improve the experience for you and your audience. If you want to deliver the best possible broadcast you want, rendered in quality that won’t put your brand to shame, then finding the right tools can have a major impact on your live streaming experience.

Make a Mark

Over the years, video consumption has grown and it doesn’t show signs of stopping any time soon. As the trend continues, finding ways to deliver valuable content through video starts to become important. If your company wants to stand out from the rest of the competition, going on live videos and providing your audience with video content is one way to answer the demand. Any company that succeeds in doing so can expect to be front and center of the market. That’s one way for you to wrestle a bigger portion of your target audience off long-time competitors and big-budget companies in the field.

Reach More

Live video has the potential to reach a bigger market around the world. It’s the kind of reach that could put your company and business on the map, says Business2Community. If you want to boost interest and attention for your products and services, what better way to do it than through video, one that’s accessible to people worldwide? If you want to expand your consumer base to include foreign markets, this is a good, solid place to start. The best part of this is that, you get to do this without spending too much of your capital. Facebook offers you a way to get do your marketing broadcasts rendered at incredibly low cost.

Facebook live streaming offers a ton of benefits to businesses. Give it a start to see how it can turn your business completely around.

The Two Main Ways of Opening a Company in Hong Kong

Thinking of registering a company in Hong Kong? You can do it in two ways; (1) purchasing a shelf company, and (2) incorporate a new company.  A shelf company is an already incorporated entity that people buy to avoid going through the logistics of registering a new company. Sounds simple? It might look direct but becomes very complex and almost impossible to complete the process.

In this post, we look at these two methods and establish why it is better to register a company from the beginning compared to the shelf entity.

Why people buy shelf companies

  • Shorter processing timeframe: Because the shelf company is already registered, all that remains is transferring the ownership. This could take about 2-5 days while the common registration process requires about 10-14 days.
  • Opening a bank account could commence within no time: Now that the transfer of the company will be through in only a few days, the process of processing a bank account can start immediately after.
  • Having a company with older legislation date builds on trust: Many people want to be associated with companies that have taken longer in the market. They create the impression that they are more established and could attract more clients.

While these benefits might look attractive, the disadvantages make the process very unattractive.

Dangers of buying a shelf company

  • Because the company was not registered with your business in mind, it is very difficult to get a perfect match. The company you buy is likely to miss the anticipated outlook. You need an outfit that rhymes well with your desire to enter and grow in the Hong Kong market (check OECD requirements).
  • Opening a Hong Kong corporate bank account is a herculean and almost impossible process: While the argument that you will easily transfer everything might sound easy, everything hits a snag when it comes to the bank account. To transfer the bank accounts of the shelf company to the new buyer, banks want to get convincing reasons from all shareholders. Most of the companies will simply decline while others will recommend that you open a new entity. When things reach here, the risk of losses or having a company that cannot trade are too high.
  • The names are very limited: Because the company is already incorporated in Hong Kong, you have to get contented with the available names. While you can change the name later, the process is lengthy and risks confusing the clients you will have made.

Registering a new company

Why take all the risks that come with buying a shelf company? The better way to go about it is registering a new company through this agency (just an example). Though the two weeks period might look long, it is better to wait and have the outfit that rhymes with personal aspirations.

Benefits of registering a new company 

  • The company takes the outlook, name, and structure of your choice
  • There is no risk of losing money because your details go directly to the company registry
  • You can get an agency to help register the company without having to travel to Hong Kong.
  • Incorporating a bank account in Hong Kong will be direct and easy

While a shelf company always looks attractive because of various benefits, everything grinds to a halt as the reality of loss dawns to investors. However, do not get into such risks! Contact a serious agency today to help you understand the Hong Kong market, register the company, and establish as fast as possible.

How to Begin Stock Investing

Maybe you are a newly married couple who wants to save up for a house or you already bought one and you want to travel around the world once you retire. In both cases and not only, you have done your research and found out that stock investment is your best choice. Congratulations, you are on a right way and this article will help you plan your further steps. Stock market is not so much of a gambling as many people think, with careful and smart moves you can conquer the market and enjoy your house or the tour in Paris. You are here to learn how to begin stock investing so enough with this talk, let’s get to your guide.

Get your finances in order

Everything can go wrong if you do not take this step seriously or worse, skip it. You have to understand and analyze your current financial status. To some extent, this step is your insurance in stock market, and it is necessary for risk assessment. Keep in mind that in market losses are possible, so you should ask yourself if that happens, how much you are ready to lose. Some financial advisers suggest being debt-free before investing, which means you need to be done with your student loans, credit card debts and even shorten mortgage. By doing so you can eliminate the risk of compiling even more debts thus becoming a responsible investor. Don’t blame market and its ups and downs, if you did not pay much attention to finance evaluation and risk assessment. I should warn you that this step can take longer than you think but without it, I am sorry to say, you can’t expect any dividends.

Learn the basics

Dividend? You don’t know what it means? Well, you need to learn the basics of stock market. Just like the college or the bank you chose, successful stock investment requires research. Talking to your neighbor or friend who invested is not enough to declare, “I am done with research.” You need to devote some time to learning the terminology, current trends of stock market and explore investment opportunities. All you need to do this Google and you will find dozens of sources. Read investment newsletters, and guides, follow successful stock investors, and stay updated. Why do I need to learn all of this if I can go to an adviser or a stockbroker? Fair question, I have to say. Advisers, my friend, can guide you through the process of investing itself, meaning explain you what is good for you and assist you while forming your portfolio. But guess what? They will talk with terms and because the last thing I want is your baffled face expression when the adviser is speaking, I am telling you now, learn the basics.

Extend your hand to portfolio

Tadam, you have learned about stocks and you have done your research. Now with this background knowledge, you can easily pick a stock that will pay off at the end. For this step, you need to allocate your assets to form a portfolio of investments. There is one extremely important part, which can cost you the success of your investment. Similar to finance and risk evaluation, diversification plays huge role in minimizing the risks. Diversifying portfolio means to invest in different stock to ensure maximum variety. Since not all the stocks respond the same way to changes, at least some portion of your stocks will be safe.

Time for your stockbroker to shine

Stockbroker is your authorized representative in the market, so to speak. Their functions include and are not limited to finding the best deal of buying or selling stocks, and handling the whole process of the trade. So the only thing left for you is to go through the paperwork and sign them. Stockbrokers simplify the technical parts of investment for you, but their responsibility is immense. Therefore, select a stockbroker or a brokerage agency with your eyes wide open and with sharp mind.

Check, check, check and finally check

The market can be as much of an online casino UK as you make it out to be, but with proper planning it will be an investment and not a gamble.  Once you complete all the checkpoints, you can heave a sigh of relief because the hardest part is gone. We want you to have a safe and successful journey in the investment world and hopefully, we taught you how. You have a goal, you have a target and you know how to reach it so go ahead and begin investing.

Should Your Business Consider Bespoke Portfolio Management?

As your business begins to take off, it’s wise to consider how your business will consolidate its wealth and its portfolio of assets. If you’re a budding entrepreneur, or someone with limited business experience, then it may be that you’re not the best person to make this call. Instead, it may be best to specifically employ someone who has experience in bespoke portfolio management. Here, we run down some of the positives of this approach.

What is Portfolio Management?

Before you decide whether portfolio management is right for you, you’ll need to know what it involves. Portfolio management involves making complex decisions on investment mix and policy.

A portfolio manager will aim to match your investments to your objectives and will allocate assets to individuals and institutions, balancing risk against performance.

As such, portfolio management is about determining what the strengths and weaknesses of your company and its assets are. From here, opportunities and threats can be determined and the attempt to maximise return against the appetite of risk can be assessed with the company owner.

Once all of this has been established, a strategy can be brought together. This will weigh up the choice of debt vs equity, domestic vs international growth targets and growth vs safety, among other trade-offs.

According to IBIS World research, there are over 18,000 wealth management businesses in the US alone, generating over $233bn alone. This means you should have plenty of options and points for consideration.

What are the Benefits?

If you’re thinking about a bespoke portfolio management service, then there are a number of benefits worth considering that could be advantageous to your business.

  • Dedicated management: If you opt for a professional discretionary service like the one offered by WH Ireland, then you’ll receive an Investment Manager for your business. By working with one individual, you’ll get someone who takes the time to understand your business and its investment priorities.
  • Delegation: Ever feel like your head is spinning with important decisions? Well an Investment Manager can help alleviate some of the pressure. The markets are incredibly fast moving and your Investment Manager can relieve you of this stress, implementing your strategy on your behalf.
  • You Won’t Be Cut Out: However, the independence of your Investment Manager won’t mean you’re entirely cut out of the decision-making process. You should receive regular reports on what’s happening. If you choose a reputable wealth management company, these reports should take place however you like, too. Such as face to face or online.
  • Diversity: Through portfolio management, you’re able to diversify your assets, incomings and growth. You can use these alongside ISAs, personal pensions, trusts or even offshore bonds. These can all be managed as part of wider wealth planning.

If you’re looking to delegate some day to day decision making, then investment management could be great for your business.

Financial Priorities.

First things first, apparently I’m a little late to the game, but I made a Facebook fan page last night for Punch Debt In The Face (See the new widget in the sidebar on the right?). I don’t really get why that’s better than my Facebook profile page, but for some reason people tell me it is. I also don’t know why likes are important on a page, but again, someone told me they were. Would you take a moment to head on over to my new fan page and gimme a little Likey Likey. If you do, I will…well… do absolutely nothing for you. Sorry, just being honest.

Alright, on to the content…

Do you have an income? Do you have expenses? If you answered yes to either of those questions, you darn well better have some financial priorities in place.

While there are a million different things we could talk about in regards to financial priorities, I want to focus on just one. Which comes first: investing or paying down debt? Hey, speaking of…

Which came first, the chicken or the egg?

Answer: Chuck Norris.

In all seriousness, I think financial priorities are something most of us think we have figured out, but don’t always truly understand. Today I’m going to show you why investing in your 401K is often a better option than paying down high interest credit card debt.

Let’s look at an example:

Jane, makes $50,000 year. She’s 30 years old and her employer fully matches 5% of any contributions she makes to her 401K plan. Jane also has $5,000 in credit card debt, at 15%. What should Jane do, pay down the card as quick as possible, or start building up a nice little nest egg for retirement?

A 15% APR, on a $5,000 balance, means Jane will be paying about $62/month in interest. If she made nothing, but minimum payments, it would take her a little over 22 years to pay that sucker off. She’d also pay $5,729 in interest over that time resulting in a total payment just shy of $11,000. Yikes, that $5,000 original bill became a whole lot more expensive. Better pay that sucker off ASAP, right?

Now let’s examine the investing route.

Jane would be investing $208/month in her 401K if she contributed 5%. Her employer matches that and gives her another $208. If she earned a doable 6% return on this money, and never got a raise in her life, she would end up retiring at age 67 with $683,030 in her 401K. Not bad at all.

If Jane decided to postpone contributing to her 401K, she could use that $208 to make accelerated debt payments each month. But let’s not forget, that 208 number is pretax, so in reality she’d have about $175 extra to throw at her credit card. With the additional payment, Jane will now be credit card debt free in 20 months and will have only paid about $673 in interest. Sounds a heck of a lot better than the 22 years it was going to take in the first example.

Here’s where it gets interesting.

Wanna know what Jane’s 401k would look like if she didn’t start investing until after she became CC debt free? She lost nearly two years of company matching and compound interest, resulting in $596,388 in her 401K. That’s $86,642 less then if she started investing at age 30.

Guys and girls, this point is SOOOO important it can not be overlooked. It is absolutely in Jane’s best interest to start investing in her companies 401K, even though she is not debt free. If she waits until she has her credit card paid off, she loses a crap load of money. I know this seems to go against the grain. Credit card debt is evil, don’t get me wrong, but that doesn’t mean it should always be at the top of our financial priorities.

Obviously, in a perfect world you will have enough discretionary income that you can not only contribute to your retirement, but also pay down your debt quickly. I always have been, and always will be a DEBT PUNCHER, but only when it is in your best interest.

Does your employer offer a 401K match? (I’d like as many people as possible to answer this question since I’ve heard a lot of the retirement benefits in the private sector have been getting cut left and right). Are you taking full advantage of that match? If not, you’re stupid. I’m sorry, you just are. You are literally giving up FREE money. In Jane’s situation would you go the way of Dave Ramsey and still pay down your credit card first, or would you let number’s guide you and start contributing to your retirement?

p.s. Like me on Facebook, I’m desperate 🙂

6 ways to save money for your small business

In today’s economy, all successful small businesses are looking for any and every way to lower costs for the business.  Many small business owners fail to dedicate enough attention to this because they are spending the majority of their time doing what they do best, which is run their business.  If you are a business owner who is like this, it may be wise of you to assign an employee to examine all expenditures at your business.  There are many ways in which a business can save money.  Here are 6 ways most business owners can save money for their cherished investment.

Hire smart, inexperienced people.

That is right I said hire inexperienced people.  Experience is not the only thing of value someone can bring to your organization.  Experience certainly costs more. One way to do this is the next time you put up a job ad, eliminate any mention of how many year’s experience someone must have to apply for this job.  Replace it with “Recent graduates welcome to apply.” Some businesses have used this approach to success and hired candidates fresh out of college or graduate school.  This allows your business to gain a monetary advantage by providing an entry-level salary and can benefit you by having employees who are up-to-date on the latest technology.

Make sure your business is classified properly.

This is most important for purposes of Workers Compensation Insurance. Many industries have several different classification codes because the industries have several different types of businesses with different levels of risk.  The different levels of risk are reflected in the price businesses pay in premium.  Landscaping is a great example of an industry with many classification codes. Some companies simply mow lawns, other companies plant and maintain sod, others climb into trees with chainsaws to cut limbs and branches.  Each type of business has a different classification code and each level of risk pays a different price in premium.  Taking a little time to speak with your insurance agent about what exactly it is that your business does and does not do can save your business significantly in premium paid for workers’ comp insurance.

Try bartering with other businesses

Bartering is one thing successful small businesses are usually great at.  Especially bartering with other businesses.  Bartering might seem old-school but it can definitely be effective. Catering companies and coffee shops frequently work with companies, especially start-ups.  If you have something of value to provide them they may be willing to cater an event of yours for free or at an extremely discounted rate.  Actually, the possibilities are endless as long as you proactively establish relationships with other local businesses who can benefit from your services.

Switch banks

It should be no surprise that banks are looking to squeeze more revenue any way in which they can.  Banks after all are a business too and they need to turn a profit.  There is one fact many people and business owners fail to realize in relation to financial institutions: they are a business as well and they have to pay turn a profit in order to continue providing you the services they provide.   partner.  The industry is necessary for success in both your personal and professional life.  Switching financial institutions frequently is not a great idea, but shopping around to ensure your bank is competitive with other banks in your area is in the best interest of your small business.  If you can cut significant costs by switching to another bank, then it may be just what you need to do to save your company money.

Invest in a safety and return to work program. 

You might be wondering why I am telling you to invest in something as a way to save your business money.  Especially investing in something like a safety program. Healthy employees are happy employees and happy employees are productive employees.  Investing just a little time in an effective safety program can save your business immensely in lost productivity and insurance premium.  A return to work program is an essential part of any safety program.  The quicker an injured employee gets back on the job and in the routine of going to work, the more likely they are to return to regular employment.    This will prevent your workers compensation insurance premium from increasing from having too many to too severe claims at your business.

Embrace telecommuting.

Telecommuting isn’t possible for all businesses, but you might be surprised how many people can effectively do their jobs from a remote location.  If you can find ways to allow employees to telecommute it can be a huge money-saver for your business. It can cut down on wear and tear to your office space as well as your electronics.  Meaning you will have to replace these devices less frequently.  Many employees appreciate the opportunity to work from home and it may be a benefit you can and to their compensation package instead of a higher salary.

Bio

Walt Capell is the President/Owner of Workers Compensation Shop. Walt started Workers Compensation Shop in 2005. Workers Compensation Shop is a rapidly growing national insurance agency with a strong reputation for forward-thinking, out-of-the-box products and solutions for business owners. Walt would like to use his experience in insurance and as a small business owner to benefit the small business community.