To The Moon

1. Know what YOU want!

You need to know exactly what you want before you even begin looking at opportunities. Be clear about what type of trades you want to do, how many hours/days you’re willing to work per week, and what sort of returns you expect. These things will help you narrow down your options, increase your chances of making money, and potentially maximize your profits.

2. Do your research!

Know the market before you think about taking action. Is the demand going up? Are people willing to pay more? What time of day is the best time to trade? How long does it take to get paid out? When you have these answers, you can determine if you should enter a contract or not. If the answer to any of these questions is “no,” then don’t bother trading. You won’t make any money this way.

3. Think about diversification!

Trading is not just about putting money into one thing and hoping it goes up. Instead, consider investing in several different assets. Different types of assets mean different risk profiles. Consider stocks versus forex versus commodities, bonds, etc. Not only does this make sense from a financial perspective, but it also makes sense from a psychological perspective. By having a diverse portfolio of assets, it forces you to analyze each asset differently and this means that you are less likely to blindly invest in something without knowing how it works first.