Trading and financial planning. - page 4.

wxa7115

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Quote from: passwordnow on September 01, 2022, 08:06:59 PM

Quote from: wxa7115 on September 01, 2022, 12:12:06 AM

Quote from: passwordnow on August 31, 2022, 01:14:54 PM

Good advice about health. Many don't seem to care for their own health because all they're focused on is money-making plans and financial matters. I remember Steve Jobs about this advice of yours. We all knew who the guy was and what were his achievements but from what I've read his tips are all about taking care of ourselves. It is one of the regrets he has before passing away and we can all see that others still don't take caution about it. It's a lowkey thing for most but you can't enjoy your wealth, trading profits, and being financially free if your health is deteriorating.

People take their health for granted, when you are young you feel incredibly well and many people believe that this is going to continue for the rest of their lives, but we know that is not the case.

That health is going to eventually deteriorate and if you do not take care of yourself then your health is going to deteriorate even faster, it is precisely because of it that we need to begin to take care of our health before it goes away, and while the effects are not going to be felt immediately once you become a senior citizen the differences between those that took care of themselves and those that didn't will be massive

Man, I was one of those that took it for granted not until I started to feel something with my body and that's when I've been alarmed. That's why my grit before was like overwhelming but I started to decrease it and give a priority to my health condition. We're not getting any younger anymore.

I know what you mean, currently I am undergoing a health-scare myself, I hope it is nothing serious and it can be solved relatively quickly, and once that happens I will really begin to take care of myself as it does not matter how much money you have if you are feeling awful every single minute of the day.

Still I think I have time as even if I have not took care of myself as well as I should I am not in such a terrible shape either, it is just that some people have an incredible strong health while I have always being kind of sickly.

kamvreto

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Quote from: Rufsilf on September 07, 2022, 06:30:58 PM

Quote

*Don't rush into any investment or trade without a safe financial plan. As this could save you from any form of financial wreck.

Well, of course, financial planning is very important, and to have clean support in regards to budget for trading. However, this is not how trading becomes profitable, what we just need to do is to have an effective trading strategy and knowledge as planning won't simply work without proper execution and turns useless. I'd say that it was very important to have all of these things works together in order to become successful otherwise, it is a failure. Perhaps, being smart traders have always a plan and are patient.

need a process to be able to run all that, because not all traders can do it well. Trading knowledge becomes mandatory to know in advance in order to understand how market conditions are and apply it with a good strategy, and then financial planning or financial management is carried out to manage and distribute funds to carry out good investments and trades. without doing financial management, of course, you will not get satisfactory results because money only revolves around one asset.

Rengga Jati

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Quote from: Lida93 on August 31, 2022, 07:08:42 AM

Many persons fail to give importance to financial planning in same vein they do with profit making in their trades.

Indeed, financial plans and strategy are very crucial moreover in trading activities. This must be managed not only before doing trading but also during trading activities in order to control our money, income, and outcome, the loss, the profits, the capital, and also the additional capital during the trading activities.
Although it seems to be easy to talk about financial planning, in fact, it is not easy in implementing, moreover during this bearish market. Sometimes, our financial plans are broken easily because our emotional management is also dropped. Grin

But once more, as long as we are still aware and want to make better management again, re-managing and re-planning finances is a must to ensure that we are still under control.

Rufsilf

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Quote

*Don't rush into any investment or trade without a safe financial plan. As this could save you from any form of financial wreck.

Well, of course, financial planning is very important, and to have clean support in regards to budget for trading. However, this is not how trading becomes profitable, what we just need to do is to have an effective trading strategy and knowledge as planning won't simply work without proper execution and turns useless. I'd say that it was very important to have all of these things works together in order to become successful otherwise, it is a failure. Perhaps, being smart traders have always a plan and are patient.

harizen

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These financial plan advise will be more effective if the person already experience the worst. It's not that I'm saying everyone should experience the worst but generally, not all can follow these advices since they don't understand yet being in a worst situation.

Worst experience is the key why some people become successful and become strong during their way up. It's now depend on that person if after experiencing worst during their financial planning, investment, trading activity or so, they will still have the courage to move on and do everything not to repeat the same mistakes or minimizes it.

Inwestour

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Quote from: Findingnemo on September 03, 2022, 07:35:40 AM

Being successful trader and being rich personal can be different as well, to make profits all you have to do is sell for higher price but reinvesting the profits to make more money is part and process of becoming rich.

Financial planning is important but we heard all those advices about spent less and invest more but in reality we are actually creating more consumers products which makes one as rich the remaining 99 as poor cause 99 people are buying from that 1 and that is how all things works, realizing this may help to achieve financial goals.

Buying cheaper and selling more expensive is the basis, but it would seem very simple, in fact, few people manage to do this. Financial planning is actually a very necessary thing, it's not about the consumption of goods, but about the ability to properly manage your finances. So that you learn to spend less than you earn, and use the remaining amount for investment.

Oilacris

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Quote from: Silberman on September 03, 2022, 09:15:02 PM

Quote from: goaldigger on September 03, 2022, 03:49:49 PM

Quote from: Lida93 on August 31, 2022, 07:08:42 AM

* This may sound somehow to some persons but I'll still say it anyway, and that is, Take your health seriously for it's only he that is healthy can think of making profit and financial plans. No wonder they say, "health is wealth". Grin

On this note, I say learn the habit to be reading books that's teaches on how to utilize the financial instruments within your possession to create wealth for yourself. Stop reading what I call anyhow books, for you are not an anyhow person.

More ideas on financial planning are welcome as I believe to learn and benefit from you too.

Many are too busy on making money and most of them forget how to take care of theirselves and the result is bad for them especially with heir health, if you really want to enjoy life while making money, it’s goos to stay healthy.

Don’t just read books, you can also attend some seminars that can encourage you to become more financially literate and can help you achieve financial freedom. This is where is where I started and I can say that it’s very effective especially if you are still a newbie. Financial planning is very important, don’t just trade without a plan or else you will miss a lot of opportunities, learn how to be more discipline as well.

People should use any method that they may like to try to improve their financial knowledge, however for some reason people believe that this is very easy and that they do not really need to invest too much of their time in this, and it is easy to guess what may happen next, those people begin to invest in the markets with a very superficial knowledge about them and then when they face tremendous losses they are confused about why that is the case, not understanding that the most likely explanation for those results is that they were completely unprepared for what they were trying to do.

Most of things that we do want to know will actually be acquired not only good on theory but also with real experience.There are things which you cant really able to know or be aware of if you wont try.

You might be good on reading up books or reading up others experiences and stuffs but it cant really be applied 100% on your own.Nothing beats if you do fully rely with your own experience
from your actual experience and dealing.

Planning would be created out of those experience because you are the ones who would be aware on what key areas that you should focus on.

Silberman

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Quote from: goaldigger on September 03, 2022, 03:49:49 PM

Quote from: Lida93 on August 31, 2022, 07:08:42 AM

* This may sound somehow to some persons but I'll still say it anyway, and that is, Take your health seriously for it's only he that is healthy can think of making profit and financial plans. No wonder they say, "health is wealth". Grin

On this note, I say learn the habit to be reading books that's teaches on how to utilize the financial instruments within your possession to create wealth for yourself. Stop reading what I call anyhow books, for you are not an anyhow person.

More ideas on financial planning are welcome as I believe to learn and benefit from you too.

Many are too busy on making money and most of them forget how to take care of theirselves and the result is bad for them especially with heir health, if you really want to enjoy life while making money, it’s goos to stay healthy.

Don’t just read books, you can also attend some seminars that can encourage you to become more financially literate and can help you achieve financial freedom. This is where is where I started and I can say that it’s very effective especially if you are still a newbie. Financial planning is very important, don’t just trade without a plan or else you will miss a lot of opportunities, learn how to be more discipline as well.

People should use any method that they may like to try to improve their financial knowledge, however for some reason people believe that this is very easy and that they do not really need to invest too much of their time in this, and it is easy to guess what may happen next, those people begin to invest in the markets with a very superficial knowledge about them and then when they face tremendous losses they are confused about why that is the case, not understanding that the most likely explanation for those results is that they were completely unprepared for what they were trying to do.

BitcoinPanther

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Quote from: goaldigger on September 03, 2022, 03:49:49 PM

Quote from: Lida93 on August 31, 2022, 07:08:42 AM

* This may sound somehow to some persons but I'll still say it anyway, and that is, Take your health seriously for it's only he that is healthy can think of making profit and financial plans. No wonder they say, "health is wealth". Grin

On this note, I say learn the habit to be reading books that's teaches on how to utilize the financial instruments within your possession to create wealth for yourself. Stop reading what I call anyhow books, for you are not an anyhow person.

More ideas on financial planning are welcome as I believe to learn and benefit from you too.

Many are too busy on making money and most of them forget how to take care of theirselves and the result is bad for them especially with heir health, if you really want to enjoy life while making money, it’s goos to stay healthy.

Don’t just read books, you can also attend some seminars that can encourage you to become more financially literate and can help you achieve financial freedom. This is where is where I started and I can say that it’s very effective especially if you are still a newbie. Financial planning is very important, don’t just trade without a plan or else you will miss a lot of opportunities, learn how to be more discipline as well.

That is a sound advice. Socializing with people who are interested about financial success can give us more idea than we imagined. Since attending seminars can enable us to have contacts with different people, befriended them and possibly setup partnership with them. Going outside to meet these kind of people is like broadening our horizon and we will hear different points of view and their approach when it comes to their trading and financial plans.

carlfebz2

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Quote from: lionheart78 on September 03, 2022, 03:29:12 PM

I want to add one more important factor in financial planning. That is to know the risk factor of anything that regards investment. Risk management is also another important thing in financial planning because it enables us to avoid unnecessary investments that may eat up our financial funds. With that, we must also understand how to make use of risk management, calculate risk factors and how to apply it in different instances.

Its a must but we do have that kind of mindset on which we should diversify as much as we could since we know that it could really give out opportunity or chance to earn more out of those investment

which we would be mainly thinking that we should make out investment as long our funds or budget or allocation does permits on this one.Although it does signify risk which is something a default thing when you are

making investment.Everything does have its risk and you wouldnt really progress out if you wouldnt really taking up some risk which is something that we do really need
and this is where planning would be that relevant.

goaldigger

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Quote from: Lida93 on August 31, 2022, 07:08:42 AM

* This may sound somehow to some persons but I'll still say it anyway, and that is, Take your health seriously for it's only he that is healthy can think of making profit and financial plans. No wonder they say, "health is wealth". Grin

On this note, I say learn the habit to be reading books that's teaches on how to utilize the financial instruments within your possession to create wealth for yourself. Stop reading what I call anyhow books, for you are not an anyhow person.

More ideas on financial planning are welcome as I believe to learn and benefit from you too.

Many are too busy on making money and most of them forget how to take care of theirselves and the result is bad for them especially with heir health, if you really want to enjoy life while making money, it’s goos to stay healthy.

Don’t just read books, you can also attend some seminars that can encourage you to become more financially literate and can help you achieve financial freedom. This is where is where I started and I can say that it’s very effective especially if you are still a newbie. Financial planning is very important, don’t just trade without a plan or else you will miss a lot of opportunities, learn how to be more discipline as well.

lionheart78

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I want to add one more important factor in financial planning. That is to know the risk factor of anything that regards investment. Risk management is also another important thing in financial planning because it enables us to avoid unnecessary investments that may eat up our financial funds. With that, we must also understand how to make use of risk management, calculate risk factors and how to apply it in different instances.

Davidvictorson

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Quote from: Lida93 on August 31, 2022, 07:08:42 AM

*Don't rush into any investment or trade without a safe financial plan. As this could save you from any form of financial wreck.

I like this point. In other words it is expedient that one is meticulous. It is all about the planning. For example what is your trade goals? What is your trade risks? What was the past one month, two months, or six months like? How is the market doing? Be prepared. In this stage also, the focus should be more on the money that you can lose than on the one you can gain. It helps to keep things in proper perspective and not become narrow minded. There is a maxim that says he that fails to plan has planned to ~~fail~~ lose.

lixer

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Quote from: KingsDen on September 03, 2022, 05:26:43 AM

Quote from: Lida93 on August 31, 2022, 07:08:42 AM

*Endeavor to set a financial target for yourself and possible means to achieving it and also create room for adjustments just in case of obstacles but don't keep your focus away from your target.
Mind you, sometimes you may not hit your target, but not to worry, cause financial target helps you to have track knowledge of your financial growth within a framed of time.

There are two ways to this, setting a financial target will make you focus and have a good track of your financial growth, there is no doubt about that. Then, there is this imbalance and anxiety that comes when the time is up running and you haven't achieved an appreciable percent of your set target. To some, this anxiety might cause them taking unplanned risks, either by increasing stake or leverage or by other means. When this happens, it could be a real build up to perpetual loses. I prefer trading at ones pace and taking trading as a passive opportunity and not the only job.

Anxieties are negative traits which should be ignored. I know it's hard at first but practice makes perfect. Just think of positive things to be able to feel calm again. If you didn't achieve your goals on your expected time then maybe the time that you set is too early? But even if it's not early there are still a lot of factors which can affect our earning potential.

Number one would be the volatility of the price of cryptos but there is also a stable coin which we can use to be able to stay consistent. Increasing stake or leverage is risky so I don't recommend them but why not extend your deadlines instead? Life is not a race so there is no need to hurry up.

adzino

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Yeah, financial planning when trading is very important. You should know your limits and you should trade with what you can afford to lose. People should keep in mind that crypto currency trading is more volatile than any other kind of trading. The market can go from 10 to 5 within few minutes. As long as they aren't risking money that they need, they can continue trading. As long as they are aware of their financial limits, trading is completely fine.

Longer27

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I agree, money management is the basis, it is primary, and after that brilliant strategists come to increase their assets

Findingnemo

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Bitcoin = Financial freedom

Being successful trader and being rich personal can be different as well, to make profits all you have to do is sell for higher price but reinvesting the profits to make more money is part and process of becoming rich.

Financial planning is important but we heard all those advices about spent less and invest more but in reality we are actually creating more consumers products which makes one as rich the remaining 99 as poor cause 99 people are buying from that 1 and that is how all things works, realizing this may help to achieve financial goals.

GreatArkansas

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Quote from: Lida93 on August 31, 2022, 07:08:42 AM

*Don't rush into any investment or trade without a safe financial plan. As this could save you from any form of financial wreck.
(.....)

I can relate to this tip and most people also experienced this and made a mistake from this part.
Some people that telling or doing some investment with the proper plan is like gambling, which they thought at first that those are investment act but they don't know they are doing it wrong or not expecting the other side effect.

KingsDen

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Goodnight, o_e_l_e_o 🌹

Quote from: Lida93 on August 31, 2022, 07:08:42 AM

*Endeavor to set a financial target for yourself and possible means to achieving it and also create room for adjustments just in case of obstacles but don't keep your focus away from your target.
Mind you, sometimes you may not hit your target, but not to worry, cause financial target helps you to have track knowledge of your financial growth within a framed of time.

There are two ways to this, setting a financial target will make you focus and have a good track of your financial growth, there is no doubt about that. Then, there is this imbalance and anxiety that comes when the time is up running and you haven't achieved an appreciable percent of your set target. To some, this anxiety might cause them taking unplanned risks, either by increasing stake or leverage or by other means. When this happens, it could be a real build up to perpetual loses. I prefer trading at ones pace and taking trading as a passive opportunity and not the only job.

palle11

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Quote from: DanWalker on September 02, 2022, 09:34:35 PM

When we were young, most of us had such for granted thoughts, I used to think the same way. Before, I was in good health, with almost no minor illnesses, but after a while, things suddenly went downhill too quickly and I started to realize my health was going downhill. I had to stop all previous plans to take care of my health. We all want to make a lot of money and have many plans to execute but we almost forget that a plan no matter how perfect without health will never be possible.

Despite bad health we can also survive depending on the severity of it and the age. If bad health is because of old age then it means we should have had an investment we did in young age or what we have survived with when young and that why when young we try to use our strength, idea and ability to do certain things we can benefit from when old. Apart from old age, there are some businesses that we can hold on to even when sick depending on the illness though. I think online businesses can be of less stress and other businesses that you can employ someone to run it on your behalf.

Topic: Trading and financial planning. - page 4. (Read 862 times)