dchua1969
Long

In the game of trading/investment

NASDAQ:AAPL   Apple Inc
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.

Comments

Thanks for looking out for people. The online workshops you're talking about are something I've been investigating for awhile. There are some that are toeing the line between fraud-like and legitimate. Common verbiage used in them: "You're learning wrong. Forget the things that people usually do. We have the answers." It's dangerous especially because there is a large population of new traders that started doing this to find an answer for a lack of employment during Covid.
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dchua1969 mcassone
@mcassone, thanks for your comments. My heart sank each time I read about those in the 40's -50's who have been working in the same company for years and are retrenched. Worse,they could not find another job that offers them even half the salary they were getting. Many had resorted to part time jobs like uber drivers, grab food drivers, giving out flyers, security guards, etc. That is why, imo, it is extremely necessary and important to learn to be self reliant and not relying on government schemes. The latter , if it comes is a bonus.

It is never too late to start another source of income be it rental, dividends , etc so that when the primary income is affected, you have other sources of income coming in. I wish you all the best in your trading and investment. cheers
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Would you be interested in conducting training courses?
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dchua1969 skyyyyy2001
@skyyyyy2001, tell me more
+1 Reply
skyyyyy2001 skyyyyy2001
@dchua1969 I mean training course to share your trading techniques?
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dchua1969 skyyyyy2001
@skyyyyy2001, i am not CFA trained nor have 6 figures track record to show , haha. Would people be interested to learn ?
+1 Reply
skyyyyy2001 skyyyyy2001
@dchua1969 there's so much we can learn from you.
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skyyyyy2001 skyyyyy2001
@dchua1969 I think it's about the mindset, if you are keen to teach I am sure there will be potential students here to learn from you :)
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