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

Source

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.

Online Resources for Businesses

There are many individuals out there who become entrepreneurs and create their own business. For most of history these businesses were brick and mortar shops where someone came in and bought a product.  At first we used the barter system, then eventually in human history we used cash.  In today’s society there is more of a reliance on credit cards more than ever.

Even within the credit card industry there is massive change.  In the past there was a need for credit card machines that would take a carbon copy of the credit card.  Then came the swipe machine.  Now there are companies like  SumUp are allowing merchants to accept credit cards without the clumsy and antiquated credit card machine.  SumUp allows merchants to accept credit card payments without that machine.  The store can simply hook up their tablet or cell phone to SumUp’s terminal and start accepting payments.  Convenience is key! The other revolution happening is the growth of online shops.

Social Media

There are so many social media platforms out there to help market your business and gain exposure that you need. Sites such as facebook, instagram, snapchat, pinterest, houzz, etc. can allow you and your business to be seen around the world. By creating profiles on any or all of these sites you have the opportunity to share information to the masses. Potential customers can see examples of your work, reviews from past customers, and your contact information (website, address, phone number). You can even share information easily in this format.

Online Shops

In certain industries it is beneficial for the business owner to have an online store. It allows customers to have access to the merchandise or services from anywhere in the world. This has opened many doors for a lot of companies. Online stores can have physical goods for sale. For example, a children’s clothing boutique in Philadelphia can now offer their clothes for sale to consumers across the country and not only in the immediate location. The same goes for actual services. A cleaning service or car wash can sell and book their services online. Restaurants can offer gift cards for sale. Event tickets are now available for sale online as well which makes it easy for purchase.

Website

A good company website is important for a business to have. A website is a potential customer’s first impression on you and your business. It sets your brand and your tone. Everything from the set up, pictures, colors, writing are very important for you to win over your customers. Your website must include all of the necessary information for someone to contact you or learn about your services as it is most likely the first place a person will go to find information out about you and your company.

Email

A common marketing technique for businesses are email newsletters. Typically a company has you sign up via email on their website. This tool will allow you to reach your customers. Most individuals access their emails on a regular basis and are likely to read information sent to them via email. This is a good way to offer promotions to valued customers as well.

This is a quick look at the online tools available to business owners. All of these items can help maximize your profits. The web is a valuable tool where the possibilities are endless.

 

 

 

 

Improve your personal finance whilst having fun!

Unfortunately, most everyone will experience a difficult time financially. While this can often seem to be an insurmountable obstacle, the internet provides numerous possibilities to help ease one’s financial burdens. These are some fun options to consider.

Language Learning

Online learning has soared thanks to the internet with a multitude of courses being offered. This demand has naturally created a need for instructors covering many topics including language acquisition. One’s skills in their native tongue or even in a second language can translate to cash. Different online sites let prospective instructors register to offer their services. Typically, there are certain qualifications that much be met but this can provide a great way to supplement one’s income.

Clean out your Closets

We have all heard the adage, “One man’s trash is another man’s treasure”. This idea can also translate into income as well. We all have those unwanted items cluttering our lives that can be sold on various online auction sites. Of course, the most well known is eBay. However, many social media outlets, such as Facebook, offer virtual local marketplaces where you can sell your items without having to go to the trouble of shipping.

Online Gaming

This is a terrific way to add to your bank account while having fun at the same time. Players can opt for either an online casino like gamblinginsider.ca or perhaps a bingo website. No matter the game, many of these sites also provide further ways to increase winnings with bonuses as well as online tournaments such as slot machines. The great thing about this option is that it can be done anywhere which means you can fill certain chunks of time with gaming.

Whether you are experiencing financial difficulties now or may in the future, these ways can provide some additional income which can help improve one’s financial outlook.

Improve Your Forex Chances With The Right Indicators

If you’re one of the many who’ve jumped on the Forex trading bandwagon, you’ll want all the info you can get that will give you any sort of advantage.

One of the most useful recommendations is to use the indicators that your Forex broker provides.

Today, I’m going to talk about the Alligator Indicator. It’s as much fun as it sounds.

What is the Alligator Indicator?

The Alligator Indicator is a trend indicator devised by Bill Williams. If you haven’t heard the name, he’s a well-known trader, technical analyst, and author, and he’s come up with something special.

He uses the alligator as an analogy to describe some of the behaviors of the market. When there is no upwards or downwards trend, the market is like a sleeping alligator. But the alligator will eventually wake up and, depending on the length of time it was asleep, will be hungry. When the sideways trend ends, in other words, you can expect a very pronounced trend in either direction.

How does it work?

The Alligator Indicator therefore shows you the structure of the market. It uses three moving averages to do this. These are called balance lines, and they’re made up of the different parts of the alligator:

  • Alligator’s jaw – the slowest moving, colored blue.
  • Alligator’s teeth – coloured red, moving faster than the jaw.
  • Alligator’s lips – colored green, the fastest of the balance lines.

This might sound confusing, but when working with MetaTrader, which is inevitably the platform your Forex broker will use, it becomes clear. The indicator is used to show you the structure of the markets and it does just that instead of just giving you numbers out of context.

What does it indicate?

The Alligator indicator indicates 3 pieces of information about the structure of the market.

  1. the absence of a trend: this is when the alligator is sleeping, a common state of the market. It’s dormant, and we can only wait for it to “wake”.
  2. formation of a trend: this shows you when the alligator is waking. It indicates how big the trend is expected to be, based on the length of the market’s dormancy.
  3. direction of the trend: finally, it indicates which direction the trend is beginning to move in. You already know how big the trend will be, but that information is useless without knowing which way it will go. This piece of information completes the bigger picture, and readies us to make a decision.

Using indicators

The Alligator Indicator is great, but it’s only one of many useful tools. Using indicators correctly will keep you on top of a great trading strategy, but none of them are perfect alone. Use the Alligator Indicator along with others, such as the Momentum Indicator, or the A/D Indicator.

This way, you’ll improve your chances of earning money and living comfortably with an extra source of income.

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.

Tips for Reducing Your Household Expenses

The word “debt” usually calls to mind car loans, credit card balances, and mortgages, among other big-ticket financial burdens. Next to those issues, household debt doesn’t seem like a significant worry. The fact that it seems like a mundane concern is precisely why it’s such an insidious problem, though. You can’t get away from household debt if you’re even partly responsible for the home, since it consists of all the everyday things you need. You can soften the blow by changing your buying habits and tweaking the way you spend money.

Pay More Attention to Cost Than to Price

You know how you sometimes buy an item that you kind of need simply because the price is low enough to suggest a great deal? Personal care items, such as razors, and home care items, such as candles and air fresheners, are famous for this. Stores also catch you with BOGO, or buy-one-get-one, deals that aren’t deals at all. You don’t lose a lot of money on individual items when you fall for this tactic, but the cost adds up over time.

Anytime you’re shopping, particularly for items that fall on the expensive side, don’t pay as much attention to the price tag. Look closer. What is the cost per unit of the item you need? Are you saving if you buy more than one? Can you save more if you buy more than two? Smart shopping is all about math, even as you roll your cart along the aisles of the grocery store. The numbers will always tell you if you’re scoring a great price or wasting your precious budget.

Buy It in Bulk

Image via Flickr by kenteegardin

Contrary to the coupon shows, it doesn’t pay to buy everything in bulk. However, non-perishable items that you genuinely use and frequently buy are always worthwhile bulk purchases. It’s still wise to look at the cost per unit of each item, but at the very least, you may save more money by switching to a different brand.

Keep in mind that some bulk stores also offer better prices than others. Of course, you no longer have to spend your money on a membership to a brick-and-mortar wholesale store. Online stores such as Jet, Boxed, and Amazon make it easy to order your bulk items and have them delivered to your home, which can be much more convenient.

The secret to successful bulk buying lies in never purchasing what you don’t need. Stick to non-perishable items, but remember that includes many foods and beverages. Don’t buy anything you only think you might use. Don’t buy something you’ve never tried before, as curiosity has no place in bulk shopping. Don’t forget personal items, either. You can purchase shampoo, conditioner, soap, razors, and skin care items in bulk.

Reassess Your Cell Phone Plan

A mobile phone isn’t a luxury like it once was. Now it’s a necessity. However, individual phones and plans are expensive. If there’s more than one phone in your home, the cost can affect your household debt. Is anyone in the home paying for two different cell phone plans? Research the possibility of sharing, such as with a cell phone plan from T-Mobile, which will allow everyone to choose their own phone. Because T-Mobile plans offer such benefits as unlimited data, fast streaming, and a reliable network, you can save money by going bulk on your phone plan, too.

Prune Your Entertainment Budget

Many households pay for cable or satellite TV, including premium movie channels. Yet they also have subscriptions to services such as Netflix, Hulu, Amazon Prime or Instant Video, and others. Do you need all of that? Go over your cable or satellite package. What are you paying for and how much of it do you actually watch? You might have a sports package that you never even use. You might find that you don’t need a package at all and that your streaming subscriptions fulfill your viewing needs.

You don’t have to sacrifice your pleasures, hobbies, or even your favorite foods to cut down on your household budget and save some money each month. You just have to spend your money more thoughtfully. What are your favorite ways to save?