Make Your Money Work For You

Simple Rules To Building Wealth

Simple Rules To Building Wealth

Jun 15, 2016

By:   Louis Monsour

Apple has been on a $300 tumble since September when it reached $705 per share, did you make money on its decline? Why not? Google has been on a steady $190 rise since November, did you make money on its rise? Why not?

The market took a dive for 100 points. The market rallied for 200 points. The market was dead and only closed one point above or one point below yesterday. Any of these statements seem to drive fear and trepidation into people minds. Why? What is the cause of all the anxiety?

Lack of information and knowledge and how to handle one or any of the various situations is the cause. Do you know how to make money regardless of what the market is doing? If not, then you are probably one of those anxiety filled people.

There are thousands of people making money in any and all of the above described situations. It is a relatively simple approach called options trading. Not investing, but trading. What are options and how do you use them?

Most people heard how they can leverage money and time and make a very good return with options and so they read a book and dropped some money into a trading platform and …

Well, most of them lost money, and very few if any, made money for a short period of time. Many people enter the world of investments and trading with the perspective of a get rich quick scheme. This world of making your money work for you is the most profitable and rewarding world in which to engage, but you must approach it as a business and not some highway robbery plan.

Like anything else in this world, in order to be successful in any endeavor you must learn what you need to do, how to do it and when to do it. Making money is not a difficult proposition, whereas keeping money is incredibly difficult. It is very easy to lose money and to lose it in a very short period of time.

Some simple rules to being successful in any trading or investing pursuit:

  1. NEVER EVER fall in love with the asset
    2. Do not risk more money than you are willing and able to lose
    3. Study the theoretical approach and master the realistic approach – realistic approach is to master the art of minimizing and controlling risk.
    4. Do not enter into any position unless you have alternative means to convert a potential loss into a potential winner or at least minimize the loss
    5. ALWAYS have a plan to follow and a tool chest of actions to react to unexpected or unfavorable situations
    6. Study and practice many, many times before actually diving into any transaction
    7. Be ready to make money in any market condition – one person’s dilemma is another person’s opportunity. Plan and account for any and every direction of any market – The Cardinal Rule of Money works in any and all conditions.

If you have money to get started in the trading and investment world there is no excuse for not making your money work for you.

Make sure you have a reliable mentor/coach and support system.  Leverage your coach’s experience and save yourself thousands of dollars and many, many years of lost time trying to gain the necessary experience needed to become a proficient wealth builder.  You want to gain the knowledge of how to do and when to do what you need to do, but just as important is learning the risks and what not to do, when not to do it and how not to fall into doing it.

Get the knowledge, learn how to apply it and become successful. How long will that take? If you are trading options and you are new to the options world, you should be ready to go within 2-3 months. If you think, or if anyone proclaims you can start sooner, then they are lying to you. You want to learn how to read the charts yourself, how to pick your own trades and how to manage them and generate daily cash flow.

Do not settle for being dependent on anyone telling you what to trade, when to trade and how to trade. Your goal with trading and investing is to become independent and to gain your freedom and manage your success.

The best way to make money in any environment is to follow the CARDINAL RULE OF MONEY and make your money work for you.

God Bless and remember…
                   Prosperity is the name of the game…
                                     Get started…Create Your Own Economy and
                                                                         MAKE IT AND KEEP IT!!!!

 

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