Publisher's Synopsis
At some point in your life, you probably will have some money saved up and will start thinking, "I probably should invest this into something." You can't live in this modern age and be deaf to the oft-repeated advice of the way that leads to financial freedom. Save and Invest. To be honest, that advice is solid. If you are going to be free financially, and free early, you are going to have to diversify your income, or at least find a way of using money to make more money.
Here's what I mean. If you dug into the ground and hid $1000 way back in 1960, and then dug it up in 2016, you'd have lost about $7,000. Why? The answer is inflation. Generally, money loses value the longer it is kept. What does this mean for you? It means that you'll need more money in the future than you'll need today, even if your expenses do not increase.
The rate at which your money loses value depends on the inflation rate, and since 2000, the inflation rate annually is between 1% and 4%. That means that your money is losing value by about 1% to 4% every year. This is the issue with many 'safe' investment options. The interest rate will probably earn you enough for your money to retain the same value. In 2018, for instance, the inflation rate in the United States was 2.4%, and the best 'safe' investment you'd probably have found online was a 6-year CD from a commercial bank, American Bank who was offering 2.7% per year. Plus, there's no assurance that the inflation rate wouldn't have increased to say 3% or even more.
Look at it this way, if you've saved up enough money to buy a Toyota, then keep the money under your mattress for about 20 or 30 years, then when you take it out, it'll probably be enough to buy a bicycle. Invest in the stock market, however, and you can probably get a Maserati or something fancier.
That is why investing is a no-brainer. While saving is a good strategy for managing your money in the short-term, you need a plan for how you'll invest in the long term.
Here's a bit of the list of topics covered:
- The basics of stock trading
- Why you should prioritize trading in stock
- The best practices that will help you get started and excel as a stock trader to a level where you have a high degree of confidence whenever making a trade
- Things you should not do while day trading stock
- How to practice sufficiently when trading stock to improve your craft in everything relating to stock, including setting stop losses, take profits and others
- Basic business strategies that will propel you to rapid success
- How to understand majors and exotics like the back of your hand
- Proper money management
- The psychology or mindset you need to have to succeed in stock trading
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