Monthly Archive: March 2019

How To Become A Profitable Trader In 2019

If you have always wanted to be a profitable trader but are failing every time, then here are the steps that you should follow to become successful at trading. Also, do check out the Pheeva which is a great source to start trading in cryptocurrencies.

Have a trading plan

No trader has ever been successful without a trading plan. A trading plan is a must for every trader. It is a set of rules that mentions the entry, exit and the stop loss on every trade. It also clearly highlights what you need to check before you take any trade.

It may seem to be time-consuming to write down a trading plan, but it is the first step in taking you towards a profitable trading journey.

Treat Trading  as a business

Whether you plan to do trading full time or part-time, it is vital that you be serious about it. Trading should not be seen as a hobby but as a business. It can be costly if you make even a small blunder when trading. Treat trading like a business and do proper research and strategize well so that you can maximize your returns.

Make use of technology

Trading is a business that is competitive, and you need to be quick to take a trade. If you have the maximum resources, you will be able to trade better. There are charting platforms available that lets you see the trade from various perspectives. You also get software which can be used to backtest your strategy. Please make use of these because it increases the probability of you being successful at trading.

Aim to protect your capital

Your trading capital is significant. Without your trading capital, you cannot trade. So take care that you protect your trade capital. Do not take impulsive trades. You will lose money on your trades but what is essential is that you make more than what you lose. For that always make sure to follow proper risk to reward ratio on every trade that you take.

How To Improve Your Business Financial Performance in 2019

Businesses of all types can survive in the competition if there is a sound marketing strategy. Companies today are all about offering a solution to the problems than providing a new product.  For example: Take the case of nonprofit event ticketing platform development firms. They take up the tedious task of handling and conducting an event and allow users to automate several parts of the process.

Similarly, for all the processes that take time, there is another business that helps handle the task with ease. So the first step to launching a thriving business is to know what type of problem the company would be addressing. Moreover, insights into improving the financial performance of the business would help in the long run.

Rely on more than one revenue source

Selling the product or service would be the primary way in which the business earns its revenue. However, make sure to figure out ways to increase the sources of income. It would be handy during the inflation periods. Moreover, with stable cash flow, work on closing the debts and building the funds simultaneously. It eventually leads to the business’ financial independence.

Returns on the investment

When the work on choosing the products or services for the business or even strategies, make sure to understand the returns. Pick options that turn out to be investments than small purchases. For example, even the marketing strategies and the tools, select them such as to get huge returns out of them. It would take off the financial burden on the business and give the long term profits in some way. The same applies to decisions like outsourcing parts of the process. In some cases, outsourcing might be a more economical decision than creating an in-house team.