Sometimes, I am fascinated by the kind of courses/workshops that are peddled online. There is a vendor that claims email marketing is the way to make big bucks, while another E-commerce expert claims he has made 9 figures income,etc.
I had done some brick and mortar businesses without much success. It was stressful, really. You have to worry about finding customers all the time, manage your costs, be out there marketing your brand constantly and lots of sleepless nights.
For those who have never been trading nor investing, I would encourage you to take a look. Go open a demo account and play play for a few months. I love doing that, opening accounts of various capitals to test my strategies and companies that I love to hold. That part later.....
You see, in most businesses, you need to sell , sell and more selling.......
You need a product that is in demand at a price that can be accepted by people .......
Not forgetting while doing all these, your competitors are much more aggressive than you, trying ways and means to get you out of the game. That is part of the game plan. Nothing wrong, it is just business.
Welcome to the world of trading/investing. Take currencies for example, just the major pairs like GBPUSD, EURUSD, USDJPY, AUDUSD and USDCAD. If you just focus on this 5 pairs consistently, you can make good profits without ever branching out to the exotic pairs at all.
It is a trillion dollars industry (daily basis) so its liquidity is there. You won't have to worry about finding a seller at all. Whether you are holding a long or short position, there is always someone out there awaiting to buy/sell your contract from you. And this is done electronically without you travelling to meet the person, stay in hotel , entertain, etc.
And if you like stocks, you can also participate by buying their shares, gaining more capital appreciation over time and its dividends, if any. Unless you are dabbling in penny stocks which may be illiquid, popular stocks like Apple has no lack of suitors.
Trading is a much simpler game to begin with - no inventory, no selling, no debts to recover, no rentals to pay, no customers service, etc. And think about it, if you cannot succeed in this game, what makes you think you are better off setting up a pizza shop with 5 employees ?
Maybe that is the misconception that many has towards trading. It is virtual and most do not think of it as a proper business to operate but something to do on the sideline.
Ponder real hard on the comparison and convince yourself why you should not give yourself an opportunity in the game of trading/investment versus the traditional brick and mortar business.
I had done some brick and mortar businesses without much success. It was stressful, really. You have to worry about finding customers all the time, manage your costs, be out there marketing your brand constantly and lots of sleepless nights.
For those who have never been trading nor investing, I would encourage you to take a look. Go open a demo account and play play for a few months. I love doing that, opening accounts of various capitals to test my strategies and companies that I love to hold. That part later.....
You see, in most businesses, you need to sell , sell and more selling.......
You need a product that is in demand at a price that can be accepted by people .......
Not forgetting while doing all these, your competitors are much more aggressive than you, trying ways and means to get you out of the game. That is part of the game plan. Nothing wrong, it is just business.
Welcome to the world of trading/investing. Take currencies for example, just the major pairs like GBPUSD, EURUSD, USDJPY, AUDUSD and USDCAD. If you just focus on this 5 pairs consistently, you can make good profits without ever branching out to the exotic pairs at all.
It is a trillion dollars industry (daily basis) so its liquidity is there. You won't have to worry about finding a seller at all. Whether you are holding a long or short position, there is always someone out there awaiting to buy/sell your contract from you. And this is done electronically without you travelling to meet the person, stay in hotel , entertain, etc.
And if you like stocks, you can also participate by buying their shares, gaining more capital appreciation over time and its dividends, if any. Unless you are dabbling in penny stocks which may be illiquid, popular stocks like Apple has no lack of suitors.
Trading is a much simpler game to begin with - no inventory, no selling, no debts to recover, no rentals to pay, no customers service, etc. And think about it, if you cannot succeed in this game, what makes you think you are better off setting up a pizza shop with 5 employees ?
Maybe that is the misconception that many has towards trading. It is virtual and most do not think of it as a proper business to operate but something to do on the sideline.
Ponder real hard on the comparison and convince yourself why you should not give yourself an opportunity in the game of trading/investment versus the traditional brick and mortar business.
Comment:
www.cnbc.com/2020/09...ions-in-options.html
