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.

 

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.

What is Flipping Houses All About?

Flipping houses has become a popular way for families and businessmen to earn extra income. Wikipedia provides a perfect definition of flipping, which is basically residential redevelopment where you buy low and sell high for profit. With the right tools, this method of investing can be quite easy. Basically… you buy the cheapest house in the best neighborhood, fix it up, sell your house quickly and make money.

The First Step in Flipping Houses

The first step of flipping is to locate the perfect property. It is best to form a relationship with a good real estate agent that will keep an eye out for you. It is worthwhile to have a good real estate agent because they will already know the best areas and neighborhoods to invest. This will take away some of the research work from you. It is a good idea to invest in areas you are familiar with as well so you are not going in blindly.

Fixing Up a Flip Home

Once you find the right house, you will need to figure out how all of the remodeling work will be completed. You will either need to acquire the perfect contractor, or better yet do it yourself. If you are using a general contractor you will need to be sure they are trustworthy, reliable, good communicators, reasonably priced and talented. If you are handy and can do it yourself than your profits will be greater since you don’t have to use money to pay someone to do the work.

Pick the Right Items to Fix

When doing the renovation, you have to be smart in choosing what areas of the house will yield the greatest return on your investment. You also need to make the turnaround as quick as possible. Time is money. So, in order to sell your house quickly, it is crucial to make improvements to a few central parts of the property.

Kitchens are the biggest selling points of a home. The kitchen is where people spend the most time at home. Therefore it is worthwhile, it is where you will get the most bang for your buck. Home buyers will appreciate the new cabinets, granite countertops, upgraded backsplash, light fixtures and appliances. You can’t go wrong here.

Bathrooms are another area of the home that buyers are looking for upgrades. Next to the kitchen, it is an area of the home that is used often. An outdated bath is an eyesore to a buyer. Updated paint, trim, vanities and showers make a world of a difference.

It is also important for the outside of the home to be manicured. Spending money on new landscaping and outdoor fixtures is crucial. Curb appeal is the first thing people see and can be the first impression that a buyer can’t look past.

Selling the Home

Once the home is sold, all of the hard work will be worth it. Selling your house quickly should be a priority as the longr you are in it the more overhead you will have.

XTrade Europe’s Market Predictions after the 2016 US Elections

A Look at History: The Election Cycle

Many economic and political analysts, including financial experts from XTrade Europe all agree that the outcome of the 2016 United States Presidential elections will have a lot of impact on a global and domestic scale.

Looking at historical data, it actually does not matter in the past whether a Republic or Democrat occupies the White House.  It does not significantly impact the US dollar’s stand on the Foreign Currency markets and it does not have a significant impact on the US equity markets.  If you are a trader who relies heavily on historical data, this is good news for you. In fact, various XTrade Europe researchers point out that election years actually coincided with favorable markets.  Many experts say that based on the events that happened in past presidential years; the effects on the market had nothing to do with who wins but the economic backdrop at that particular point in time.

However, there is also strong data that suggests that markets are significantly stronger when there is continuity.  This means that in years when the incumbent is sitting for his second term, the market averages increase.  Investors and traders lean more towards continuity if the actual economic and trading policy of the incumbent is favorable to the market.

XTrade Europe’s Market Predictions

Since this is not a continuity year, XTrade Europe financial analysts believe that there is still no guarantee on what will happen after the 2016 presidential elections.

When it comes to the stock market, certain stocks will not be affected with either with a Trump or Clinton victory.  As much as there are stocks that will not be affected, there are definitely investments that could be negatively affected.  For instance, if Trump wins, he will be opening trade agreements for American workers, and impose tariffs on goods from China and Mexico. If this is the case, many investors will veer away from multinational corporations, especially from countries where huge tariffs will be imposed upon under the Trump administration.

When it comes to the value of the U.S. dollar, technically it is not the new president that will affect its value.  However, when the Republican Trump wins, it means a change in party and many changes in trading policy, which may affect exports.  Trump is on the record as saying that he wants to change many trading policies. This might mean fluctuations in the US dollar, but the long-term effects could be favorable.

No matter what happens to world financial markets, there are still strong sectors that traders should consider.  These sectors will certainly grow stronger no matter what the political state is.  According to XTrade Europe, digital products, cloud technologies, and cyber-security will continue to gain.  It is wise to invest in companies within these sectors.  Another bright spot in the future is the big percentage of the retired and ailing baby boom generation spending trillions of dollars on health care, leisure, and hospitality.  These are some things that traders can consider when they decide where to put their money when they are trading online.

 

Investors At XTrade Explain The Importance Of A Trading Plan

How can a trading plan help you to make better trades in XTrade and help your business? Really, a trading plan is good common sense as it will help you emotionally. Why do we say that? Let’s see.

Use XTrade To Control Losses

Traders always get losses at some point. The idea is to make more profitable trades than ones with losses. However, a plan to control potential losses should be firmly in place so that trading through XTrade is not based on raw emotions reacting to the negative impact of your money taking a nose-dive. This kind of “skin of the teeth” trading is not wise and will not result in constant success, which is the end game.

As a well-configured trading plan can make you money, this should be considered as having utmost importance. Just the process of managing your money can equate to three quarters of the job, the rest is rejigging the plan to find the best one for your particular needs.

Browse Your Options

So what are different plans that successful traders employ?

Making a plan includes creating your own personal strategy. “Gut” decisions will only take you so far. Technical analysis and a system of indicators are a popular choice. When using the latter, you may have an edge as you utilise stops and limit orders to keep you on track. Set limits as to a percentage of loss with an auto stop made at the opening of the trade. Pre-defining your trades in your account will help you be to modest, limiting greed which can spell death to traders. No loss is accepted willingly, but making a sound business decision to cut your losses may allow you to live to profit another day, setting the balance back in order—hopefully in your favour.

Your Plan May Include Other Plans

You should ask yourself questions such as:

  • Have I read up on the affects of trading on psychological health? What will be my plan to combat the emotions involved?
  • How can I implement and operate my plan?
  • What is my stopping point? How much money is necessary to trade with? Can I deal with the financial risk? What is the worst that can happen and how can I plan to deal with it?
  • What will be my selected portfolio? Why have I chosen the markets I am going to trade in?
  • What is the purpose of my trading and why does it matter to me? Should I trade daily or for longer stints?
  • How many losses will I permit before I stop for the day?
  • What kind of a profit should I expect to fulfil my plans to keep afloat?

These questions should all be answered seriously and under much consideration BEFORE you even attempt to trade with real money at XTrade and turn the odds in your favour. If you don’t plan for success you will be planning for failure. Plan smart, just as every business has done before it begins the long trek up the ladder of success.

Sensible Tips to Help You Work Towards Greater Financial Stability

Financial stability is a goal many people hope to achieve, but most arguably don’t know how to get started in working towards that aim. That often means they get discouraged before ever really carrying out any positive changes that make it easier for their aspiration to become a reality.

Constantly Eliminate Unnecessary Expenses

Some people only actively look at their budgets and examine the expenses they can cut out if they’re facing dire circumstances. For example, an expensive medical crisis, or the need to save up for a costly plane ticket in a short amount of time are both situations that could make a person take a closer look at his or her spending habits and reshape their ways of buying things.

Ideally though, you shouldn’t wait until severe situations to do that. It’s smart to be highly aware of how much you normally spend, and constantly ask yourself whether the purchases you make are essential. After a while, you’ll naturally be living a frugal lifestyle, which should go a long way in helping you gradually become more financially stable.

Put Some Into Savings Every Month Automatically

Much like the practice of scrutinizing a budget and targeting unnecessary spending, saving money is something some people don’t do without good reasons. They might save up for a specific notable item, like a vacation or a car, but generally don’t see saving as something to do on a regular basis.

Only you can decide what types of services you are looking for in a financial advisor. Services can range from regular educational events and materials to visiting a local office where you can see your advisor face-to-face. For example, Fisher Investments CEO Damian Ornani believes excellent client service involves teaching people how to make informed decisions and listening closely to their individual needs, while Charles Schwab offers an in-person experience via a multitude of local offices. Whatever you decide works best for you, always expect excellent service even as a beginning investor.

However, if you take a different approach and automatically put some of your income into a savings account each month, you’ll likely be surprised at how much you cash you acquire. Even better, you probably won’t even notice having less disposable income if you set up a system where a designated amount goes into a savings account without your intervention.

Be Aware of Debt and Don’t Let It Get Out of Hand

Some people have credit cards they just whip out of their wallets without second thoughts. If that practice happens too frequently, the individuals could find they’ve racked up debt very quickly. Although debt doesn’t make it impossible to be financially stable, it does tend to hinder your efforts.

<p><a href=” Only you can decide what types of services you are looking for in a financial advisor. Services can range from regular educational events and materials to visiting a local office where you can see your advisor face-to-face.. For example, Fisher Investments CEO Damian Ornani believes excellent client service involves teaching people how to make informed decisions and listening closely to their individual needs, while Charles Schwab offers an in-person experience via a multitude of local offices. Whatever you decide works best for you, always expect excellent service even as a beginning investor.</p>

Be proactive and strategize about getting rid of your credit card debt before it becomes much more unmanageable. Start by becoming more conscious about the charges put on a credit card. Ask yourself if it’s possible to pay for those things in another way that doesn’t involve using credit. Also, focus on just one credit card at a time and decide you’ll gradually make payments more frequently than you charge items to it.

Realize It’s Never Too Early to Begin Investing

No matter your age or stage in life, it’s wise to have the mindset you can never be premature when it comes to building an investment portfolio. Choosing a financial advisor can sometimes feel overwhelming. Get off to a good start by insisting on excellent service.

When speaking with your investment advisor, remember it’s okay to admit you’re just starting out. He or she should pay strict attention to your long-term goals and help you start making a portfolio that puts those aims more within reach, and not you feel like your inexperience is a burden.

Take Out Insurance Policies When Possible

Financial instability often occurs when people have to sort out emergency situations. Although you can’t always anticipate life’s mishaps, it’s a good idea to protect yourself against them as much as possible by having insurance policies. As long as you’re aware of what kind of damage is covered by respective insurance packages, you could avoid having to pay out of pocket for things like expensive medical treatments and damage to your home.

If you already have insurance plans in effect, make sure to review them with a representative as your needs change. Doing that should ensure you continuously have appropriate coverage.

Hopefully, it’s now clear that financial stability isn’t an elusive goal. As long as you don’t get distracted and think practically about your money matters, you should notice uplifting progress over time.