Category: Finance

6 hints for an effective dealer

In this article, we are going to impart to you 6 hints that will assist you with being effective as a dealer. With these tips at the forefront of your thoughts, you can maintain a strategic distance from regular errors and follow the correct systems so as to draw nearer to your prosperity. Right away, how about we look at those straightforward tips.

  1. Try not to contribute excessively

On the off chance that you need to be fruitful as a dealer, you would prefer not to put all your cash in danger. One day you will resign and you will require a lot of cash to have a decent existence. In this manner, you might need to put away your cash minimalistically.

Despite the fact that you can utilize the cash you have put something aside for a day exchange now and again, consistently attempt to play it safe. At the end of the day, you ought not go through the cash that you can’t stand to lose.

  1. Show restraint

Another indication of an effective dealer is that they don’t exchange consistently. Along these lines, what you have to do is get the open doors that can meet your measures. it’s anything but a smart thought to snatch each open door that you can discover. You would prefer not to conflict with your own judgment on the grounds that there is an open door accessible. You should have a strong arrangement set up and consistently show restraint.

  1. Be trained

You should have a strong exchanging plan spot, and you ought to do nothing against it. On the off chance that you are exchanging yourself, you would prefer not to embrace rash conduct. You would prefer not to be insatiable as it can cost you a ton of cash. On the off chance that you want to get wealthy in a solitary day, you are committing a grave error. You should consistently be trained.

  1. Try not to be hesitant to snatch a chance

Regularly, new brokers will in general be overpowered first and foremost. They are too hesitant to even think about grabbing the open doors that appear in their manner. However, you don’t have to stress as long as you are trained and have a strong arrangement to follow. Along these lines, you don’t should fear pressing the catch. On the off chance that you are quiet and restrained, you will definitely make the progress you want.

  1. Try not to take a great deal of hazard

As I said before, it is anything but a smart thought to put a lot of capital in a solitary exchange. This won’t just put you at more serious hazard, yet it will likewise make you pass up a ton of chances not far off. Hence, you should just go through 10% of the measure of cash you have saved for exchanging. This will assist you with being erring on the side of caution.

  1. Gain as a matter of fact

Brokers experience the ill effects of misfortunes regularly because of their grave errors. In this way, what you have to do is gain from others, and observe a standard based procedure. Aside from this, you ought to consistently attempt to act naturally and never attempt to go too far.

Long story short, in the event that you need to be effective as a choices merchant, we propose that you follow these means. This will assist you with being erring on the side of caution and keep away from the basic mix-ups that can cause you to endure a misfortune during this excursion.

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business plans (E-book 1)

people has a lot of purpose of setting a business but before you think of setting up a business you need this mind set to succeed..

1.. what you want to do.. knowing what kind of business you want to do really matters alot caus this will help you to limit your spending, you don’t just wake up and start up a business you first of all know what you want to do before setting a business

2.. what does the people like.. now knowing what people want really matters alot, caus you can’t go to an igbo place and be selling housa food, obviously no one will buy the food from you so you need to no the kind of area you are in and also what trend in that particular place so as for you not to get loss in your market sells.

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How to make money with your talent(E-book one)

they is alot of talent in the world but today we will be looking at how to make money with our cooking talent .

people usually use cooking as a joke but they never new that they is alot more to it than they think , if you are a talented chef you have alot way to make money with it.. because they are many chef in the world but only few get the attention of people and this is because of their styles and way of cooking .

you can open up a business of food selling which will bring up lot of people into your shop and with this you can be a rich man or woman.. it really doesn’t matter if it a small portion but what matters it giving the people what they want and the teste they require in a food.

take up your cooking talent don’t only be stocked in the house and cook alone.. take it to the world caus they are alot of people who would enjoy your meal than you think.

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2 important books that can change your life

Recommended books thy can change your life

First published by proinvestivity.wordpress.com

I used to be deeply constrained into my school works and nothing else. I remember it was back in July 2018 when I visited the school library and saw a book called ‘The 7 Habits of Highly Effective People’. I had gone there initially to issue my course books. But due to some reasons, I ended up borrowing The 7 Habits of Highly Effective People.

Reading this most likely didn’t bring the divine changes in me. Instead, I was able to see many possible ways to live my life peacefully yet with strong principles. 

This post is in addition to my previous post. Earlier, I had written on the 2 books that have played a major role to shape my life. In case you missed it, please feel free to read it – 2 Books That Completely Changed My Life.

Books I’ll be discussing:

1. How to Win Friends and Influence People

2. Atomic Habits

1. How to Win Friends and Influence People 

Dale Carnegie

First written in 1936, How to Win Friends and Influence People has sold over five million copies in 31 languages. Despite its oldness, its principles are still relevant as ever. 

Have you ever wondered why you feel deeply connected when you are praised? We like to be appreciated, don’t we? When someone praises us, we like that person instantaneously. 

On the other side, what if someone criticizes us? Without thinking much, we blindly go against that person. At any means, we try to prove ourselves right and that person wrong. 

So from the next time, talk good things about people and see how easily you are able to build up your relationships. Here lies the secret to developing your personal skills by means of interpersonal skills.

Similarly, when you want to flourish your business and develop interpersonal skills, you have to talk in terms of the other person’s interest.

I love the key idea of letting people talk about themselves. People are ready to listen to you only when you let them talk first. 

On the other hand, probing your thoughts only lead to boring conversation. This brings the conversation to no avail. Therefore, choose to lead by becoming genuinely interested in others.

Have you ever notice that you enjoy talking to people with whom some of your background and behavior align?

Let’s say you love reading self-help books. You are in conversation with a person who is fond of reading lots of self-help books. You both are surprised to find that both have the same favorite author. While checking your watch later no, you may not realize that you have been talking for such long hours. 

This is the power of alignment. Next time, when you consider building up relations, focus more on what interests both of you. I’m sure you will have a very meaningful conversation. 

These key principles from the book help to make a strong foundation of a relationship. This, in turn, benefits you in many ways to attain personal goals. 

If you haven’t yet read the book, I highly recommend you to grab the book and see its role in your growth by implying the principles as stated. 

 “Any fool can criticize, complain, and condemn—and most fools do. But it takes character and self-control to be understanding and forgiving.”

– Dale Carnegie

2. Atomic Habits 

– James Clear

The technological renovation has brought immense change in our way of living. It has been difficult to form and stick to strong habits. This has raised the challenges for millennials in their development. But thanks to James Clear for introducing Atomic Habits. 

It takes no time to break an established habit. Small changes in our habit gradually lead to massive improvement.

The author believes in the power of the 2-minute rule. The 2-minute rule says that we often ignore the small habits, but when we give just 2 minutes of our time to build the habits, it takes no time to make it happen. It is a gateway to the productive path. 

I was pessimistic about his philosophy of the 2-minute rule. However, I thought I should give it a try. For a few days, I didn’t see any big changes in me. Only later, I came to realize that I was already establishing my habit of doing regular exercise. 

If I was able to do it, then you could also initiate, can’t you? 

If you want to establish the habit of running, then you put on your shoes. Likewise, you study only when you open your book. Opening your book is the gateway habit to achieve your motives for reading. Our gateway habits trigger our ultimate goals to come true.

Also, when we make our habits visible to others, we strive to make it happen. Building good habits involve making it obvious, attractive, easy, and satisfying. The same can be applied to break the bad habits but in the opposite way i.e. making habit unclear, unattractive, uneasy, and unsatisfying.  

In order to form a rigid habit, we first need to understand the habit loop. 

The starting point, a cue is an indication of the formation of habits. Our craving defines how we want to achieve the stated goal in the process. That’s exactly the place where we choose to take action. 

Some of us might smoke when we feel stressed. Here, stress becomes the reason to smoke (cue). We then desire to light the cigarette, ultimately turning it to reality (craving). Then, we simply start smoking, thinking, “What will one cigarette do to me?” (response). We then feel the satisfaction (reward).

Similarly, once the task is done, reward plays a pivotal role to shape our habit. So, don’t forget to reward yourself with things you love when you accomplished your goals.

Another key idea from the book is habit stacking. It basically means to add up habits that are similar in nature. Make the habit of forming lists that says “ After doing exercise, I will meditate”. It’s a great way to make our tasks visible and remind ourselves of our responsibilities. If you could connect your habit to place and time, it would further become crystal clear for you to perform them. For eg: “I will do ……. at( time) ……in … (place).” 

Making daily routines is serving me to remain on track and make my habits punctual. Have you formed your routine to establish habits?

So, reflect your atomic, aka tiny habits, and embrace your daily life. Always remember, small victories lead to large victories.

“Habits are the compound interest of self-improvement.”

– James Clear

I would like to sum up the article with a famous quote of a freedom fighter from India. 

Can you guess who he is?

“Live as if you were to die tomorrow. Learn as if you were to live forever.”

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5 Guaranteed book for FINANCIAL FREEDOM!!!

The Internet has provided us an easy way to learn about finance and investments. But if you want to get an in-depth analysis, then you will have to Read a Book.

The advice from well-experienced financiers will go a long way in defining your financial plans. So, learn about their core principles before you put your own money on the battlefield.

Books:

1. Rich Dad Poor Dad (Best Book for Beginner)

2. Essays of Warren Buffet

3. The Richest Man in Babylon

4. The Millionaire Next Door

5. Intelligent Investor (Best Book on Investments)

1. Rich Dad Poor Dad (Best Book for Beginner) 

– Robert Kiyosaki

Rich Dad Poor Dad

Rich Dad Poor Dad is my first book on Finance, and I have already read it 4 times. Every time I read it, I grasp something new that I had missed the previous time. No wonder it’s my favorite book. The book is simple but has powerful implications.

In the book, Robert Kiyosaki has shared his personal life story. He claims to have two dads – one rich and the other one poor. 

The rich dad never finished schooling but was very wealthy. The poor dad (his real dad) had a well-educated degree and held a government job. Despite this, he has always struggled to manage his wealth. 

Money worked for the rich dad while the poor dad worked for money.

The Fundamental Lesson you will learn from this book is the practical difference between an asset and a liability. Kiyosaki states that we have been taught about these terms incorrectly in our school. 

Is your home an asset or a liability? 

Many of us would go with the asset as we have taught in our schools. But in truth, most of our homes are a liability. It’s because our money is going out of it – paying for electricity, maintenance, taxes, and so on. 

Assets put cash in our pocket while liabilities take cash out of our pocket. Rich people accumulate assets whereas poor people buy liabilities, thinking they are assets.

When you keep on adding assets in your portfolio, your income will increase. But when you buy liabilities, your expenses will rise.

CashFlow Pattern

Kiyosaki also advocates the importance of money in our lives. Despite its necessity, schools have neglected to teach them to children. Our school shows us the way to get a job after graduation – only if it was so easy.

In this competitive world, getting a job has been harder than ever. Keeping a job has been equally harder. The Coronavirus Pandemic has already knocked down millions of jobs worldwide, which is expected to rise in the upcoming days. 

So why study so hard in our school if we cannot even have a secured source of income later on?

“Workers work hard enough to not be fired, and owners pay just enough so that workers won’t quit.”

– Robert Kiyosaki

2. Essays of Warren Buffet 

– Warren Buffet

What better to learn from the Richest Investor than from his book? 

The Essay of Warren Buffet consists of the collection of the shareholder letters that Warren Buffet provides in the Berkshire Hathaway meetings.

Buffet urges us to buy a great business at a sensible price, rather than a mediocre business at a bargain price. The mediocre companies might be a lot cheaper, but you will have to buy many such companies before one of them brings you a good profit. 

Moreover, don’t diversify too much! It takes way too much time. Diversifying comes from not knowing what’s going to happen. 

If you don’t understand the business, then don’t buy its stocks at all. Only stick with the businesses that you understand. 

It’s also not enough to buy businesses based on just their financial numbers. You have to make sure these companies have great management as well. 

Likewise, while most of us fear stock market fluctuations, Buffet thinks otherwise. When the market goes down, it provides greater buying opportunities than it was possible earlier. 

“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”

– Warren Buffet

3. The Richest Man in Babylon 

– George Samuel Clason

The Richest Man in Babylon 

The Richest Man in Babylon is the oldest book in this list, which was first published in 1926. In the book, George Samuel Clason provides some wonderful personal financial tips from ancient Babylon. The book might be almost a century old, but its core concepts are still relevant.

If you are to get one lesson from this book, then it is that you learn where you are spending your money. You can’t become rich by only earning a lot. You will also have to divide your funds properly. 

Our major problem is that when our income increases, our expenses also tend to increase alongside. We desire a new car, a new mobile, and so on. Being able to control our expenses is what differentiates the rich and the other classes.

Like Warren Buffet, Clason also advocates that you should invest in areas only where you have knowledge about. Most people investing in bitcoin don’t know how it operates. For them, it will be difficult to understand why its price has moved in a certain direction.

Why won’t most of us gamble in a casino? 

It’s because we know that the odds are always against us. Similarly, investing in a stock that we don’t know is gambling. We can only hope its prices will increase later on, like hoping to win in the casino. 

Despite the book being very old, it discusses a popular modern concept – Passive Income. Clason states that you will have to work regularly now to earn passive income. But once your income starts coming in, you won’t have to give much effort. Your money will start working for you.

While we earn for ourselves, do we pay ourselves enough? Where do most of your salary go? Taxes? Rent? Netflix? Fast food?

People pay to others as soon as possible, leaving little for themselves. Clason suggests saving at least 10% out of your income. It might be hard at first, but he claims that it’s necessary if you want to become rich. 

“Advice is one thing that is freely given away, but watch that you only take what is worth having.”

– George Samuel Clason

4. The Millionaire Next Door 

– Thomas J. Stanley

The Millionaire Next Door

As the name suggests, this book focuses on the millionaires – finding out what differentiates them with ordinary people.

The basic premise of this book is that you can enjoy your profits, but you should never spend the principal. Even better, you should reinvest your profits to earn Compounding Returns in the year to come.

After a lot of research, Thomas J. Stanley came to the conclusion that millionaires have a lot in common. As contrary to what many people might think, around 80% of millionaires are college graduates. Most of them come from poor families. Also, they all have great control over their money: they plan their budget and know where they are spending their money.

In economics, the Opportunity Cost is the value lost by giving up the next best alternative. For example, if you buy a new phone, then you may not be able to buy a laptop. So, the laptop becomes your opportunity cost. 

While we tend to calculate opportunity cost in terms of money, Stanley argues that we should also consider our opportunity cost of time. Many of us would prefer to watch a movie instead of learning about financial independence. 

If you have a child or are planning to have it soon, then Stanley urges you to not give cash gifts to your child. Research showed those children went on to become poorer than the ones who didn’t receive cash gifts as a child. Likewise, that money will be used less productively. 

Stanley has also formed a Wealth Formula so that we can understand about our net worth easily.

Net worth = Age * yearly income /10 

* This formula doesn’t apply to students as their earnings are limited.

“Money should never change one’s values…. Making money is only a report card. It’s a way to tell how you’re doing.”

– Thomas J. Stanley

5. Intelligent Investor (Best Book on Investments) 

– Benjamin Graham

Intelligent Investor

Benjamin Graham is known as the Father of Value Investing. Warren Buffet considers Intelligent Investor as the most valuable book on ‘Investments’. 

Graham advocates that a stock is an ownership interest in a business. Most people buy stocks just to get stocks. What they don’t realize is that they are also a part-owner in the company. This gives them some rights and powers of the companies’ workings. It can be used to make some crucial decisions.

A lot of times, the market doesn’t reflect the value of the firm. It reacts more than it needs to, which presents us with many opportunities. Graham suggests to be patient and search for the times when the stocks will be available cheaply.

Similarly, Graham urges us to own those companies whose Price < Net Working Capital. 

Net Working Capital = Current Assets – Current Liabilities. 

If you can buy a business at that price, then you are not paying for its buildings, lands, goodwill, and so on. But this type of company is rare in the modern era, except when the prices fall dramatically.

The Margin of Safety is also a term that has been widely used in the book. 

Margin of Safety = Intrinsic value of a stock – Price. 

Intrinsic value is the investor’s perception of the internal value of the company.

For example, you believe the value of Microsoft stock is $200. Its current market price is $170. This gives you a margin of safety of $30.

Higher the margin of safety, lower will be your risk.

“But investing isn’t about beating others at their game. It’s about controlling yourself at your own game.”

– Benjamin Graham

So which book do you think should be added to this list? Please feel free to leave your thoughts in the comments.

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