Follow These Proven Strategies To Turn A Profit On The Stock Market

It appears to be that more and more people are starting to develop an interest in the stock market, due to the fact that it is one of the best ways to earn substantial amounts of money. One of the best things about it is that there are so many great ways you can generate wealth from it.

But does it mean that there are no risks? The answer is no. This is particularly the case with those people who are trying to earn a lot of cash fast. One of the trickiest aspects when it comes to stocks is the fact that you cannot predict their day-to-day movement.

But this shouldn’t discourage you. It just means that you shouldn’t be too hasty, but instead, focus on developing strategies that are going to help you generate gains. Below, we will mention some that can help you accomplish that.

Smart ways to make money on the stock market:

Let’s Start With London Breakout Strategy

Now, as previously stated, there are various methods that you can implement to tackle the stock market, however, not every single one of them is as efficient. The breakout trading strategy is something that many seasoned traders have been utilising for quite some time. What’s great about it is that even the less experienced traders can comprehend it and later add it to their trading arsenals.

Additionally, the London breakout strategy is extremely useful to intraday traders and is certainly one of the simplest strategies to use. Furthermore, it provides a fast way to make some awesome pips in a relatively short period of time.

Moving On To Day Trade

If you consider yourself to be a resourceful and proficient trader, then you should definitely opt for a day trade. This is a method that is going to enable you to make lots of cash in the stock market.

Additionally, this type of trader moves in and out of a stock quickly within one day, and at times, makes several transactions in the same security in one day. Experienced and skilled investors who are capable of anticipating the financial results of certain companies, can earn cash very fast

On the other hand, if you’re relatively inexperienced, you can easily lose money. In fact, some statistics have shown that approximately ninety-five percent of average day traders lose money, yet, they still continue to employ this strategy. Bear in mind that this method is supposed to be implemented only if you have a plethora of experience.

Purchase and Hold

There’s one saying that many investors frequently use “Time in the market beats timing the market”. But what does this saying mean? To make things simpler, it means that a great way to generate profit in stocks is by implementing a buy-and-hold strategy, where investors hold their stocks (or any other security) for a certain period of time, instead of constantly purchasing and selling.

This is something that’s definitely worth mentioning because there are a lot of investors out there who are trading in and out of the market constantly, on a daily, weekly, and monthly basis which means that they can potentially miss out on various amazing opportunities for powerful annual returns.

The whole point of this strategy is to focus on staying invested for the long haul to be sure you seize the market at its best. And certainly one of the best ways to achieve this goal is precisely through the buy-and-hold method.

Do Not Start Selling Just Because You’re Bored

Now, there are a lot of investors who easily “get bored” of a particular stock so then they decide to sell it. These types of people are probably constantly yearning for some excitement while forgetting the fact that smart investing is actually not the most dynamic thing in the world.

More importantly, they keep forgetting the fact that the smartest investors in the world typically sit on their stocks for many, many years, allowing them to compile gains. Keep in mind that investing isn’t normally a quick-hit game.

All the major gains usually arrive only if you’re patient enough to wait, not while you are constantly trading in and out of the market. Now, these “bored” investors think that you’re successful only if you trade every single day. While there are traders who are successful at this, they are still mostly focused on the outcome.

As you can see, there are various ways you can earn cash on the stock market, however, it’s crucial to first conduct proper research to gather all relevant information before you take any further steps.

Ways to Earn Extra Cash on the Side

Some extra cash is always useful! Money is tight. Bills continue to rise, but your pay check remains the same. While you have tried to find an alternative job that offers a more lucrative salary, there’s nothing available at the moment that fits your skills and experience.

Is all hope lost? Will you have to start selling your possessions and cutting back on luxuries? The answer to these questions is ‘No’. That’s the case if you are willing to earn extra cash on the side – which is likely if you’re reading this article.

In 2020, 27% of people in the United States took on side gigs to put more money in their pocket. While far from an ideal scenario, it is a convenient one that can free you from financial restraints.

If you’re wondering how to bulk up your bank balance, here are four effective ways to earn extra money on the side:

Delivering shipments

If you have a mode of transport, there’s the possibility you can carry out deliveries for extra cash. Your mind might instantly be transported to delivering fast food for a local takeaway joint or through a platform like Uber Eats, but there are other solutions available when you want to start delivering products to customers.

When searching for shipping work, Shiply is a great place to look for work. This platform’s load board is constantly updated with new jobs as thousands get added each day. It’s simply a case of finding local jobs you can carry out, putting in a bid, and, if selected, completing the delivery. There are no set hours or quotas to meet, which means you can come and go whenever needed – ideal for a side gig.

Freelance online

You don’t have to leave your house to make some extra coins. With online freelance platforms like Freelancer available, you can find opportunities in everything from logo design to writing blog content.

Getting started with online freelance work can be difficult – especially if you fail to have expertise in a certain field. Yet once you get the ball rolling and gain experience and positive customer reviews, the door opens to more frequent and lucrative projects.

Take surveys

Admittedly, you’re not going to be rolling in money by going this route. Yet taking surveys is a straightforward way to add a little extra cash to your earnings. There are various survey websites you can sign up with, where you will be paid a small amount of money – or possibly receive a gift card – for each survey completed.

Start a business

This may seem a little too drastic as a side gig, but it’s possible to run a small – and profitable – business on a part-time basis. For example, via marketplaces like Etsy, Amazon, and eBay, you can resell products found at thrift stores or even make your own creations like jewellery and paintings.

Of course, the possibilities are endless in terms of what business you can start. Plus, if it takes off, you could even scrap your current job to focus on your company full-time!

How To Save Money On Technology For Your Small Business

Technology is an essential part of business today, and those that fail to keep up with the changes that come with the advancement of tech are putting the success of their company in jeopardy. While some may be able to get by with minimal reliance on tech, almost all businesses can benefit from the implementation of advanced, modern technology.

A small retailer, for example, can benefit from an advanced POS system and stock management software, and a service provider may be able to make good use of cloud-based project management and automation software. However, the big drawback to implementing these things is understandably the cost of both implementation and maintenance.

Here are some ways that you can save money on tech for your small business.

Understand The Benefits For You

There are some absolutely phenomenal systems and devices available on the market today which can significantly boost the success of a business. At times, technology upgrades can help a business level up from something small and uncompetitive to a corporate entity that dominates an industry. However, you need to remember that not all tech is going to be necessary for you, and while something might seem to be cutting edge and has done wonders for other businesses, this doesn’t mean that it’s going to benefit your own.

Put everything to one side and focus solely on how you can personally implement this technology and whether or not it’s going to serve you better than a cheaper option or if it’s even going to make an impact on your success.

Utilise Great IT Support

One of the highest costs when it comes to technology is having to replace or repair broken devices. It’s not always possible to avoid this, as technology never lasts forever, but a great IT support team, such as Totality Services, can provide you with better security for your tech as well as continued maintenance for those devices, systems, and networks. Not only that, but the IT consultancy that they can provide can steer you towards some great tech opportunities for you and help you find some great deals that you might not have been able to find on your own.

They can help implement new systems in your business, such as cloud computing, enabling you and your team to work from anywhere with ease.

Ignore Extras And Warranties

After agreeing to buy some new devices or software, you’ll be offered some additional extras that might be dubbed as essentials or extremely useful to have. However, as with most sellers, they are likely just trying to upsell, and these added extras and even warranties are simply designed to get that little bit more from you when you buy. There are many tricks that salespeople will employ, and you should always be on the lookout for them. Don’t fall for these tricks. Instead, understand what you want and need from this purchase and stick with it. The last thing you want is to sign up for a monthly payment for a warranty that you’re never going to need.

Remember that your IT support team will likely have the skills to deal with most tech issues.

Managing Business Finances Made Easy: Tips from the Pros

If you’re like most business owners, you probably feel like you’re always playing catch-up when it comes to your finances. It can be tough to keep track of everything, especially when you’re busy running your business. In this article, you’ll learn tips and tricks for better managing your business finances. So read on and start getting ahead of the game!

Embrace Automation

One of the best things to do with numbers in a business is automating tasks because they erase the option for a human error. The proper softer installed in your system is the perfect way to do payroll processes with ease, including direct deposit and employee onboarding documents. You can also use it for tracking inventory levels, budgeting, and even collecting customer payments.

Automation will help you keep better financial records because it can all be done in one place and will eliminate the need for you to search through various software programs to find specific information. Everything will be compiled in one spot so that you can easily generate reports and get a clear picture of your business finances at any given time.

Enhance Your Billing Strategy

Every business runs into customers that are late with their payments. This can put a strain on your cash flow and make it difficult to manage your finances. There are a few things you can do to enhance your billing strategy and make it easier to manage your finances.

First of all, you have to make sure you invoice promptly. Send invoices as soon as the product or service is delivered. This will help ensure that you get paid in a timely manner. It’s also smart to include payment terms on your invoices. Make sure you include when the payment is due and any late fees that may apply. This will help ensure that customers pay on time.

Never forget to follow up with customers who are late with their payments. A polite reminder can go a long way in getting customers to pay their bills.

Monitor Company Spending’s

There are a lot of expenses your company has. These are the following:

  • Rent
  • Electricity
  • Phone
  • Internet
  • Wages
  • Insurance premiums
  • Taxes
  • Advertising
  • Office supplies 

You can keep track of your company’s spending by monitoring all expenses. You can do this by setting up a budget and tracking actual spending against the budget. This will help you to see where your company is overspending and where you can cut costs.

Another way to keep track of your company’s spending is to use accounting software. This software will help you to track all income and expenses. This will give you a clear picture of where your company’s money is going.

Watch Out For Taxes

All your taxes need to be in order before you can do anything else. This means that you have to have a system for tracking your income and expenses, and you need to be able to categorise them properly. You also need to know when each tax is due so that you can pay it on time.

If you don’t have a system for managing your finances, it will be very difficult to stay on top of your taxes. The best way to avoid this is to hire an accountant or bookkeeper. They can help you set up a system that works for your business and make sure that all of your financial information is organised and up-to-date.

Make Sure Your Business Credit Is Good

In order to stay afloat, you need to keep a close eye on your business finances. This can be easier said than done, but there are a few key things you can do to make sure your business is in good financial health. One of the most important things you can do is to make sure your business credit is good.

Your business credit score is important for a number of reasons. First, it determines whether or not you’ll be able to get loans and lines of credit from lenders. If your business has a poor credit score, you may not be able to get the financing you need to keep your business running smoothly. Additionally, your business credit score can impact your ability to lease office space or rent equipment.

Have An Emergency Plan

It’s essential to have a backup when business is slow because you never know when an emergency will happen. That’s why having an emergency plan is one of the best ways to manage your business finances.

First, you need to decide what expenses are critical and which can be cut during lean times. After that, Build up a cash reserve to cover at least three months of operating costs.

Always review your insurance coverage to make sure you’re adequately protected against risks. Finally, have a line of credit in place so you can access capital quickly if needed.

Every business needs good accounting in order to function properly, which is why automation is a great way to avoid mistakes. Make sure to have a good billing strategy for tardy customers and monitor all the expenses. Watch out for the taxes so you wouldn’t get in trouble and make sure you have a good credit score. Finally, create an emergency plan for the darker days!

Should You Borrow From A Money Lender? Here’s Why Or Why Not

Should you borrow from a money lender? Money lenders have no positive reputation among people and are always connected to some serious crimes.

In this line, crimes occurring under unknown circumstances have money lenders or loan sharks on their lists of people to investigate. However, money lenders can operate legally as well. By the definition, money lenders lend money while the other side pays the sum and the interest. These interests are a dangerous zone since most money lenders cross the line and turn into loan sharks. On the other hand, when legally operating there are no problems with interest since they are regulated by law.

Here are some advantages and disadvantages of borrowing money from money lenders.

Who Are Money Lenders?

There is a considerable difference between loan sharks and money lenders. Namely, money lenders are authorized by the Financial Conduct Authority (FCA), to be able to lend money legally. On the other hand, loan sharks are not registered by FCA, and lend money from home with very high rates, and interests, giving you no paperwork of the deal arranged. Loan sharks are known to have a lot of customers, and they lend money as a kind of business. Problems begin once the payback period starts. They tend to collect the lent money by using some methods like threats, violence, blackmails, and taking away your valuables and credit cards. There are some extreme cases where they forced non-payers into prostitution and drug dealing.

Money Lenders and Banks?

Legally approved money lenders are able to provide six times your monthly income, while banks can provide you ten times your monthly income. You should bear in mind that banks will ask you to have at least $20.000 per year and good credit history. When it comes to approval speed in this licensed money lender vs bank battle, the point goes to money lenders. Namely, money lenders may release money within 30 minutes, or during the same day, when the application is filled. and if everything is right with the documentation. The speed is the result of many factors. Firstly, money lenders do not require collaterals, which are otherwise mandatory for taking a loan in the bank. Moneylenders lend you unsecured loans, but the small amount of money they can pay you prevents you from falling into some deeper debts.

Interest Rates

This is one of the most important factors when it comes to lending money, especially from money lenders. This is because of the previously mentioned loan sharks who tend to increase interest rates and therefore make your debt even deeper. However, there are regulations for legally approved money lenders. Officially, money lenders can charge you with an interest rate from 1-4%, but this rate depends on the moneylender. Therefore, comparing interest rates and offers in the banks, and other money lenders can help you land the best option. However, it is extremely important to make sure that the moneylender you are getting a loan from is legal and certified in FCA.

Requirements

When comparing to banks, it is important to say that banks have a long list of eligibility and requirements and it is due to the fact that they can lend a huge amount of money. On the other hand, legal money lenders will ask you for a couple of documents helping them establish the most important information-income, employment, and identity. Once this information is established, you will be given your loan, for less than an hour, or within the same day. Some of the mandatory information includes at least 21 years old, NRIC card, any letter that has recently been sent to your address (utility, bills, etc.), and some other documents that are possibly required by a money lender. While banks require full-time employment, employment certificate, NRIC photocopy, 2 years notice of assessment, 3 months computerized payslips, at least $20.000 of annual income, etc. If you are getting some bigger sum from the bank, then they will probably ask you for collateral, or hard money loans. This means that you will be able to compensate for the taken money with the asset, or your collateral will pay for your loan, while money lenders are not approved to lend any of these loans.

In sum, it is very important to accentuate that there is a considerable difference between loan sharks and legal money lenders While loan sharks may use some of the very violent methods for taking money back or even bringing entire families to criminal acts, money lenders are legally limited and are allowed to lend small amounts of money that will not push people in deeper debt.