Sunday, December 10, 2017

How Much Money Can You Make from Day Trading?

trading time
With each passing year, it seems making ends meet becomes more and more difficult. This pretty much forces countless people to seek new and interesting ways to earn income, with many finding lucrative opportunities via the internet. If you have a bit of capital or a great idea, there are thousands of ways to make technology work for your bottom line.

Anybody with an internet connection can easily invest and trade online from the convenience of their office, their home, or anywhere else. This has led to a new generation of day traders who earn significant sums without ever leaving the house.

This begs the question: just how much money can somebody realistically make from day trading? We'll take a look at the answer and give you the details on what to expect.

Consider Your Capital

One of the biggest factors in how much somebody can earn day trading is how much they invest initially. The larger the amount of money invested, the more dollars that can be earned through each trade. Generally, investing a minimum of a few thousand dollars is recommended, as this will allow for daily returns to be potentially equivalent to a daily salary.

It's also worth noting that the more money you have to invest, the more you can make with reduced risk. For instance, somebody investing $5,000 who wants to earn $1,000 in one month will have to make riskier bets than somebody investing $20,000 who wants to earn the same.

Knowing What You Know

Another crucial component of earning money via day trading is the inherent knowledge you have of the markets. Regardless of the stock or instrument being traded, a lack of understanding about the industry, market conditions, or other factors can turn a seemingly great buy into a huge regret.

As such, day traders must work diligently to understand basic market conditions and pursue new information proactively. A variety of resources and tools exist that can help day traders, such as social trading platforms. Sites such as InvestinGoal help explain the pros and cons to social trading platforms and what benefits they can provide.

To Leverage or Not to Leverage

A huge factor in how much can be earned via day trading is whether you utilize leverage in your trades. Via leverage, you can multiply the amount of usable capital in your account, potentially amplifying your investment several times over.

However, for day traders – especially those who are new – this can be a risky gambit. If you suddenly take a big loss, it will disproportionately impact the amount of capital you have. Generally, leverage is only recommended for those who have at minimum an intermediate understanding of stocks, trading, and how leverage can impact such factors.

Ultimately, day traders' earnings can vary considerably depending on their investments, leverage, and market conditions. Many day traders with a bit of experience can expect to earn around 15% monthly with an aggressive and micro-managed approach, but yields can be more or less depending on multiple effects. With this information in hand, you can begin researching day trading more extensively and decide whether it is a good investment approach for you.

Thursday, December 7, 2017

Big Steps Towards Better Financial Happiness

financial happiness
While money doesn’t explicitly buy happiness, it sure helps when making big decisions. Taking the first steps towards greater financial happiness can be a scary time, but worrying about it will only end with missed opportunities.

But how can the average person achieve such financial contentedness? With the options available nowadays, there are a plethora of opportunities possible for you to take advantage off and work towards that financial freedom that so many crave. Here are just some.

SEARCH FOR SMART INVESTMENTS

There has never been a better time in history than now to get involved in investing. Every day, companies are being founded, and new technologies are being developed that look set to revolutionise and disrupt the way the world works.

By identifying these companies early on through smart and thorough research, you might just be onto a winner. Looking at recent tech trends, and areas of the market that have been neglected will allow you to find the perfect startup to contribute to and reap the rewards once it makes it big.

While nothing is certain when it comes to investments, approaching it intelligently and investing your money wisely opposed to a dangerous and haphazard approach, you might just find the world’s next Google, Netflix, or Apple.

DEVELOP YOUR OWN BUDGET

Budgeting can be a truly dull thing to do and taking a look at your finances often makes you wish you hadn’t bothered. But, to attain more financial freedom and happiness, a proper budgeting plan will almost make it feel like you have generated money out of thin air.

For things like this, it is good to start small. Do you need that Starbucks on the way to work every day? Do you really need to order takeout when you have all this food in the house? Eliminating the small spends early on will set you on the right path towards approaching some of the bigger money drains that you might identify along the way. Once this has been achieved, you will have earned yourself a reward, be it a new gadget or a change of scenery, all because you’ve begun pinching the pennies, instead of throwing them away.

SELL YOUR HOUSE

It might seem like an extreme suggestion at first glance, but the realities of being able to sell your house for cash in today’s market will allow you to explore other avenues in life. Being tied down to a certain location can get monotonous after a while, and choosing to do away with one of those anchors can open up opportunities for you to take advantage of what the world has to offer.

Further benefits of selling your house for cash include not being let down by the buyer, as there is no need for the deal to fall through after getting a loan rejected. This has the potential to set you up nicely for whatever path you choose to take next.

While it pays not to be wholly dependant on financial happiness, choosing some simple (and some not-so-simple) steps will aid you in setting yourself up nicely for the future. You may feel that everything will work itself out, but creating good financial habits now will pay great dividends in the future.

Wednesday, December 6, 2017

Financial Habits That Everyone Should Adopt In 2018

new year finances
Financial responsibility should be a priority at all times. Still, January 1 signals the start of a new chapter and is the perfect time to embrace improved habits for greater long-term stability.

It doesn’t take too long to adopt new habits. In fact, getting a head start now could put you well on the way to achieving greatness by the time 2018 arrives. Let’s take a closer look at some of those most rewarding ideas.

#1. Make Money Work Harder

It’s a sad reality, but most people don’t earn nearly as much money as they’d like to. Therefore, supplementing your career earnings with external revenue is key. The realm of investments can be a volatile one, but also has the potential to be very rewarding. Overhaul your strategies in 2018 to see your personal wealth grow at a quicker rate than any bank account. In turn, both the immediate and long-term financial situations will look better than ever.

#2. Make Money Last Longer

As well as growing your capital, you should look to get more bang for your buck. After working so hard to earn cash, allowing it to leave your pocket any quicker than it should would be nothing short of disastrous. Services like couponmom.com enable you to reduce weekly shopping bills. Similarly, comparing everything from car insurance to cell phone provider helps too. Reduce overheads without sacrificing your enjoyment, and you’ll notice the difference in no time.

#3. Stop Wasting Things

There’s nothing quite as frustrating as losing money. Unfortunately, most people are far more brazen with their assets. Simple ideas like upcycling clothes or selling unwanted goods will boost your financial health. Likewise, buying used items, ranging from cars to fancy dress outfits, can promote a better bank balance. One way or another, giving them the same level of attention as cold hard cash is essential.

#4. Borrow Money In A Responsible Manner

It’s very common to take on debt in this life. This could come from buying a home or car on finance. Alternatively, you may have fallen behind on payments due to unforeseen circumstances. There’s nothing wrong with borrowing money, but you must do so in the most efficient manner. Even with short-term lending, visiting best.creditcard can have a telling impact on interest rates and payments. If taking extra care here promotes greater financial stability, it has to be worthwhile.

#5. Monitor Things

Organizational skills and financial control bring many benefits. Managing payments ensures that you escape needless charges while allowing you to maintain a budget. Better still, you can easily pinpoint areas where you require cutbacks. If nothing else, it removes the element of surprise which often causes major problems for personal finances. Besides, being prepared for the worst also means any work bonuses or extra funds become far more rewarding.

Embrace those habits over the coming weeks, and 2018 should present a healthy boost to your financial situation. Regardless of your background, this is something that will surely make next year feel better than ever.

Tuesday, December 5, 2017

The Biggest Financial Mistakes Made By The Modern Generation

money blunder
Everyone makes mistakes in life, but financial matters are an area where nobody wants to fall victim. In reality, though, most people are guilty of some very preventable issues.

Here are five of the most common among today’s generation, along with some advice to avoid them.

Buying A Property Too Soon

Becoming a homeowner is an important goal both financially and personally. However, the pressure to buy a home shouldn’t encourage you to swoop too soon. In truth, the price paid for the house isn’t the only cost you’ll encounter. As such, being prepared for agency costs, surveys and the other items is crucial. If you cannot afford them right now, renting a little longer is fine. Apart from saving a bigger down payment, it’s often less stressful.

Relying On Standard Retirement Pensions

Retirement is slowly creeping up on you, even if you’re in your twenties. Your standard pension plan will give you a basis, but it won’t be enough to help you live a comfortable life. Investments such as gold IRA funds can increase your wealth significantly. Given that life will inevitably get a lot tougher once you’ve reached retirement age, this extra safety net can make a world of difference. Frankly, assuming that things will be OK without it would be very na├»ve indeed.

Overlooking The Small Costs

Overheads and expenses are just as pivotal to your financial situation as revenue. Most people appreciate this and will actively make the right moves to save money on major purchases like cars. In truth, though, the savings made on daily transactions is where you can reap the biggest rewards. Whether it’s using coupons for cheaper groceries or tailoring a home TV package to suit your genuine usage doesn’t matter. Wasting money by needlessly overspending will take its toll on finances for many years to come. Prevent this from being an issue, and it’ll pay dividends.

Forgetting Credit Scores

Many people assume financial wealth is solely about bank balances and assets. However, leaving doors open is an equally important factor, which is why your credit history is so vital. A lot of people allow their credit scores to stay low before inevitably falling into greater debt. Repairing yours isn’t an easy job, but it will enhance your future for many years to come. Given that we live in a world where borrowing money is a regular feature, ignoring this is a financial sin.

Not Appreciating Their Worth

Perhaps the worst thing anyone can do, however, is let others take advantage. You’ve invested time to develop skills, earn qualifications and gain experience. As such, you deserve to be paid a suitable salary. Online job boards make it easy to check what people in similar roles command. Talking your way to increased pay is achievable while you may also want to look for opportunities elsewhere. Even if you love your job, payment is the main incentive. Do not forget it.

Avoid those mistakes at all costs, and your financial future will look better than ever. Quite frankly, that’s something that can be appreciated by all.

Monday, December 4, 2017

Do you think you are ready for your retirement?

retirement time
A few decades ago, retirement planning was quite straightforward. People got well-paying government jobs and stayed on in the same company until retirement. After that, the company’s pension plan supported them financially. But times have changed. It is rare to find someone in the same job for more than a few years. As a result, the onus of retirement planning has fallen directly on the individual. But the fact is, many people do not think about retirement planning until it is too late.

Importance of retirement planning

Imagine the following situation. You are in your early 30s. One day, you bounce into your old college friends. You go out and have a blast. The bill is huge. But that’s not a big problem because you can afford it. You know exactly when your next pay cheque will arrive.

Fast-forward thirty years or so. You are retired. In other words, you don’t have a regular source of income anymore. What would you do in case you have to foot a huge expense all of a sudden? If you have access to a good corpus of money, great! But otherwise, you may be in trouble.

Financial independence during your golden years is the main reason why you should start thinking about retirement planning today.

• Rising expenses

Twenty years ago, a cup of coffee didn’t cost more than a few rupees. Today, the same cup could cost you at least Rs 50 in a good restaurant. If you are wondering how it is possible, the answer is quite simple: inflation. In other words, your daily expenses are only going to rise over the years. So even your daily goods such as rice, sugar, coffee and tea would cost a lot more thirty years later. And if you are not prepared for the rise in expenses, you may be forced to change your regular lifestyle to accommodate these changes.

• Rising cost of medical expenses

The other major problem during retirement is the cost of medical expenses. Increase in health problems during old age is a natural phenomenon.Bad knees, poor eyesight, diabetes and arthritis are a few problems that you commonly find among older people. And if you haven’t planned well for your retirement, a substantial chunk of your savings can be spent on medical expenses.

To make matters worse, healthcare costs are spiralling out of control. Some studies show that hospitalisation costs are increasing by 10% every year.

Therefore, the only way to ensure you enjoy a happy and peaceful retirement is through an efficient long-term investment planning.

Create a retirement plan

The journey of a thousand miles starts with a single step. Same is the case with your retirement plan. And the best time to take that step is today.The first step is to identify how much you would like to save for your retirement. This would be based on your current income level and lifestyle. For instance, if your monthly expenses are Rs 40,000, it can be difficult to drastically cut them down after retirement. You might also want to travel or pursue other hobbies. All this can be expensive. Identify your potential expenses and take inflation into account. When you have a rough estimate, you can start your investment plan to achieve your goals.

How investment helps in securing a healthy retired life

One of the main goals of retirement planning is to create a large corpus for your sunset years. You can do this through long-term investments.There are many retirement and pension plans in the market that you can consider. In addition, investing in equities is one of the best ways to do achieve your long-term goals. This is because they have the potential to offer high returns for the long term.

But if you are hesitant to invest in the stock market, equity mutual funds are ideal for you. They are less risky than directly investing in the stock market. Besides, the long-time horizon ahead of you can balance out any hiccups you may encounter on your investment journey.

It is also bestto consider taking out a long-term health insurance to finance any health problems you may encounter in your retired life.

To sum up

In the end, the important thing is to be financially independent in your retirement years. You shouldn’t depend on your children for financial help. On the other hand, it might be a better idea to leave them something from your own side. You can ensure that a part of your retirement savings contributes towards your family’s future.

Sunday, December 3, 2017

Begin 2018 With An Investment Overhaul

future investments
There is no better excuse for a reassessment of your investment portfolio than the emergence of a new year. While many friends and family might be making resolutions to shift the extra few pounds put on over the festive period, attend the gym a little more regularly or spend more time traveling the world, you are keen to get your finances in shape. The most common route down which to see your money grow into a worthwhile nest egg is to leave it in the safe and secure environment of the bank. This is the least lucrative yet least risky way of accruing money. However, you’re keen to explore your other options and want to see if there are any better ways to invest your hard earned cash so that it works for you more aggressively.

Property

Bricks and mortar has been the go-to investment for people who are growing a little frustrated with their lack of return at the bank. If you have the funds for a deposit on another home, you should be able to purchase a second property to rent out. Get the calculator out and do some number crunching to ensure that any monthly rent that you achieve will cover your mortgage repayment. If you can find a humble abode that ticks along nicely without you spending too much money on it, you could have stumbled across a sound long-term investment. Over a decade or so, your property will be sure to have increased in value and given you a return much greater than merely having your money sat in your savings account at the bank.

Trading

Whereas stocks, shares and Forex were once the domain of professional investment bankers, hedge funds or those with millions of dollars burning a hole in their pocket, they are now much more accessible to the masses. Head to a site like investormint.com, and you’ll discover a wealth of impartial reviews regarding trading platforms, stock tools and financial decisions.

You could choose to specialize in a certain aspect of trading such as the buying and selling of foreign currencies or you might wish to take a jaunt into the world of cryptocurrencies. This burgeoning market is in its infancy making the market highly volatile but the returns potentially astronomic. As with any ultra high-risk investment, only use the funds that you can afford to lose and never see yourself venturing into debt.

Wine

A little-known avenue down which to pump some of your savings is wine. The wine market is buoyant with investors buying up cases of vintage years of chardonnays, beaujolais and shiraz. Wines like those listed at wine-searcher.com get better with age, and like antiques, they become rarer and more sought after. Investing in wine has outperformed equities 98 percent of the time over a five year period making it a solid and relatively low-risk investment option as long as you’re not looking to make a quick buck.

Make 2018 your most financially prosperous year yet by heeding some of these investment tips and watching your nest egg grow.