I got very lucky when I started out trading in the early 1990s as tech stocks stayed in uptrends and continually made new highs in price after each dip. Buying the dip and holding worked repeatedly much like it did in last few years in both stocks and crypto. However, after the dotcom bust of […]
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The best order of operations for where to put your savings depends on where it will be most helpful in moving you toward your personal financial goals. This sequence can be different for everyone but there are some basic principles for determining where to best allocate your savings for debt reduction and investing. In what
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Options are a market of derivatives that gives traders and investors the right but not the obligation to buy or sell shares of stock over a time period at a strike price before an expiration date for the cost of the option contract. The options market is a zero-sum game where there is a buyer
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A chart pattern is a visual representation of the actions of buyers and sellers in a market recorded in price action. A chart is not predictive of the future but shows what is happening with buyers and sellers in the present moment. What it does is signal a higher probability of one path over another
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Excessive thinking happens to people as their mind is constantly trying to identify and solve problems. Overthinking can also be due to high levels of anxiety causing worry by imagining terrible future scenarios playing out. The inability to concentrate on the current moment but instead becoming lost in memories of the past or in your
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The importance of financial literacy makes it your most valuable asset you will ever have. Both understanding and also having the ability to use financial principles efficiently in your personal life is financial literacy. The concepts of budgeting, paying bills, investing, maintaining good credit, limiting debt, and managing a retirement account are all areas of
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Fear is a defensive emotion meant to protect you from mental, monetary, or physical harm caused by the belief that a person, thing, situation, or place is dangerous or a threat. Fear is a warning sent to your nervous system to trigger your fight or flight response as a reaction to the threat. Your body
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A study was conducted in 1998 at Columbia University by professors Claudia M. Mueller and Carol Dweck where they took a large group of fifth graders and separated them into two groups to complete puzzles. After solving the puzzles one group of children were told they did so well because they were so smart, the
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3x+1 Concerning the above math problem, Paul Erdös said that “Mathematics is not yet ripe for such questions.” He also offered $500 USD for its solution. Jeffrey Lagarias said in 2010 that this math problem: “Is an extraordinarily difficult problem, completely out of reach of present day mathematics.” Richard Guy has this on his list
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“It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.” – Charlie Munger Most people focus on what they need to add to their life to become rich, what may be even more important is what needs to be
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Stoicism is the philosophy of the acceptance of circumstances as they are and not what we wish they were. Stoicism is the art of not indulging in unhelpful emotions. Stoics are pragmatists that see no purpose in dwelling in negative emotions like regret, jealously, and worry to name a few. Stoics don’t cry over spilt
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Day trading is a serious endeavor that shouldn’t be taken lightly. As a day trader you are competing against professionals, algorithms, and large trading firms for profits in the markets. If you hope to make money you will need to operate like a business and not like a gambler. Success in day trading will require
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“I was working at a financial firm in New York City with a bunch of very smart people and I had a brilliant boss I much admired. I went to my boss and told him I was going to start a company selling books on the internet. He took me on a long walk in
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Self-confidence is the feeling of faith and trust in your own abilities, skills, experience, and judgment. It’s the belief that you’re good enough to accomplish the task before you. It’s believing in yourself. People can have different levels of self-confidence in different areas of their life. You may have complete self-confidence at work but have
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I have always been an avid reader as I love learning new things. I especially love learning life changing information that can improve my life. One of my early thoughts about reading can be summarized in this way. If you’re broke, read 5 personal finance books. If you’re unhappy, read 5 books on the art
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In 2019, 69% of respondents polled said they have less than $1,000 in a savings account compared with 58% in 2018. [1] No doubt, this has grown even worse in recent years with the pressures of inflation and the increasing cost of living. So what is the best ways to save a meaningful amount of
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A skill is something you do well. Skills can come naturally and they can also be developed through learning, experience, and creating feedback loops to learn how to improve in an area. How much you earn at a job depends on your skill set and how well your employer can monetize it in their business.
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Self-discipline is the ability to control your actions through inner will power regardless of your emotions and impulses. It’s the skill to overcome the temptation to violate your inner principles. Self-discipline enables you to pursue your goals, follow your own ethics, and be the person you want to be. Someone guided by self-discipline uses their
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Habits are reoccurring behaviors that are virtually on autopilot. Habits compound in returns and can set you on your life trajectory. Everyone has habits and they can be either good or bad they can lead to success or failure. Habits require little to no thought and once they are embedded in your daily routine they’re
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1. Start the day with critical work. Elon Musk generally starts his day at around 7 a.m. and begins by answering all his emails so he unblocks others waiting on his replies and feedback. He tries not to be a roadblock in the path of productivity for his employees. Musk believes it’s crucial to focus
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