There can't be many traders who haven't at least considered the idea of telling the boss what they think of him, throwing it all in and going off to trade the stock market for a living. It's a big risk financially, and that uncertainty is what stops most from jumping ship. Is it really possible to trade for a living?The DreamYou know how it is, you're sitting in a traffic jam at some unearthly hour of a particularly wet and miserable morning, on...more
In part 1 of this article I started to look at the financial implications of giving up the day job to instead start trading full time for a living. There are more than just monetary considerations as we will see later, but for now, there are some more costs to ponder.More Costs!Let's move on to equipment. Presumably you already have a PC and internet connection by virtue of the fact you are reading this on the internet. But are these both up to...more
Recently, my family and I took a trip to Maine to visit relatives. During our stay, we toured the rocky shore lines and took in the beautiful architecture of the old towns.One sunny morning, three generations of Wardlaws boarded a lobster boat and set out on a guided lobster trapping excursion.We quickly learned lobstermen lead a life of hard work and regulations. Over the course of many years, Maine's lobstermen and state officials have established certain criteria to protect lobsters and allow for greater development. With the rules, lobstermen look for "keepers."A "keeper" is a lobster that measures between 3.25 and 5 inches from its eye socket to the end of its back shell. In addition to the precise measurements, the lobster cannot carry eggs nor can it have a notch in its tail (indicating it is a breeding female). The notch is carved from prior lobstermen who observed the lobster's breeding.If the lobster does not fit the criteria set forth, it is discarded and placed back in the waters.As an investor, you constantly look for "keepers." At your disposal is a wealth of information to determine the quality of a position. Depending on your predetermined goals (including...more
OK, so you are up to your head in debt. You are stressed out, it is now affecting the way you function and absorbing most of your daily thoughts. You have no idea what to do. OK, first things first. Take a step back and try and look at things with a clear head. Your debt is manageable. If you have many bills and just can't afford them all,...more
Morningstar now provides Fiduciary Grades on mutual funds. How does Morningstar determine these grades? How can mutual fund investors use these grades to better manage their portfolios?Mutual fund investors use Morningstar Rating™ as a sign post of mutual fund performance. These ratings have proved to be a valuable tool for objectively comparing...more
Putting a piece of paper in a file folder is easy; finding it again is the hard part. There are ways to make your files easier to use and your papers easier to find. Invest in a sturdy, four or five-drawer file cabinet. Spend the extra money it takes to get quality and durability. You'll spend more money replacing a cheaper file cabinet a few times than buying a reliable one in the beginning. You may not have enough files to fill the cabinet now, but believe me, you'll need it in the future.Before you buy additional cabinets, weed out unnecessary files. The natural tendency is to buy more cabinets to hold the papers you've accumulated. The more filing space you have, however, the more tendency you have to keep unnecessary papers.Keep the number of hanging file folders you use to a minimum. Rather than putting only one interior folder in each hanging folder, group three to five interior folders in each one and label the hanging folder with the main category.Minimize your paper files by using a scanner to store them electronically. There are hand-held, sheet-fed, flatbed and optical pen scanners available. You can even use a scanner to enter business cards into a contact management...more
One of the hardest things for most individuals working from home is to stay focused. One of the best ways to stay focused is organization. In addition, being organized will help your time management skills. The two are very much intertwined. Planning...more
Every day we get emails and telephone calls from people who want to get started in Real Estate. We hear, I am just checking out your program. Or, I've been researching for the past six months to try and find a program. While researching and checking...more
An Ann Landers column "Parenthood is not a job for the weak at heart" caught my interest.Job Description for a ParentPosition: ParentJob Description: Long-term player needed for challenging, permanent work in chaotic environment. Candidates must...more
A big source of managerial churn is lack of clarity around the decision process. The biggest source of confusion is the Team Decision. Does this mean that the boss wants lots of input and discussion before deciding or does it mean that a decision...more
As a sole proprietor, it*s wise to familiarize yourself with the some key deductions that may reduce your tax bill for 2004. Small-business consultants generally recommend that you hire an accountant to prepare your tax returns, payroll and financial...more
It's a dream I've heard so many people express: "I want to run a bed and breakfast. They are so cute" Or "I want to own a vacation rental property, so I can get a free vacation and make money the rest of the year.But what is really involved in...more