Connect with us

Politics

You Won’t Get Rich Overnight Trading. Here’s Why

Published

on

Andrea Unger


There’s a common fallacy out there about trading, that it’s an easy way to get rich fast. But data shows something very different. Prior to the pandemic, retail traders, or traders who buy and sell securities for their own accounts made up about 10% of the stock market’s total trading volume.

Enter the pandemic, and that percentage had increased to 30% by mid-2021 according to an estimate from Citadel Securities and Themis Trading. A large chunk of retail investors got their start during the pandemic. However, they don’t seem to be striking it rich at the rate many of them had expected.

The rise of online trading platforms including Robinhood and TD Ameritrade have made trading easy for everyone using just a smartphone. But the hard truth is that 70% of day traders lose nearly all the money they initially invest according to a North American Securities Administrators Association (NASAA) study. And in fact, only 11.5% showed the ability to conduct profitable short-term trading. It seems that trading is not the get-rich-fast strategy that a lot of new traders think it is.

You’ll Need to Assess Your Risk Strategy and Cap Your Maximum Losses

When I started my journey as an independent trader, failures rapidly followed my initial successes. My losses were significant and I started questioning my capacity to make a living out of trading. Slowly, I realized that I would need more than just expert opinions if I wanted to make money long-term as a trader. I would need data to know when to enter the market and, more importantly, when to exit.

Backtesting my investment strategies and systematically letting the system guide me on what I should put my money on — was a good place to start. My past experiences had taught me that I could lose substantial sums very fast. So, as part of my risk containment strategy, I capped my losses to a certain amount. Although the sum I was willing to lose would vary depending on the investment itself, I considered that 2% of the total sum invested was high enough.

Don’t Be Fooled By the Mirage of Instant Wealth

Minimizing risks is a good start but certainly not sufficient to grow rich in trading. Too often, I have noticed that what differentiates successful traders from those who fail over time is the scientific mindset the former have in common. They are patient, disciplined, and systematic in their approach to trading. They know that trading is very risky, and they do not neglect the slightest warning of losses.

On the other hand, outsiders and newcomers tend to see trading as an eldorado. Generally, they have two main motives for investing in the markets. They either want to improve their family returns or to generate wealth quickly. Both reasons are wrong because the illusion of instant wealth drives them.

I’m often concerned by people going on online forums such as Quora to ask whether they should buy cryptos. These people believe that they can trade and make money from materials gathered here and there on the internet. They will not realize their mistakes until they lose their hard-earned money too often.

Here are Four Reasons Why You Won’t Get Rich Overnight as a Day Trader

1. It’s easy to fall victim to scams.

Far too many people place their trust in con artists who swindle their money after classic phone call tricks. In my opinion, the reason why so many people fall victim to scams is that their appetite for instant wealth makes them vulnerable. The people behind these scams leverage our greed and our faith in the gurus of the moment.

Their phone calls generally start with questions such as your interest in the stock exchange, your sources of income, and opportunities to invest in specific areas that are trending. They will follow up with PDF documents full of logos showing that they are fully compliant with trading laws. This is a red flag as real documents generally don’t have so many logos. Another warning sign? If they promise a stable 10% return on your investment every month, you should run for your life.

2. Expert predictions often offer misinformation.

Anytime you pick up a tip as a trader, you need to evaluate its validity. First, identify the flaws and cross-check and identify the causes of the miscalculation. If you are a discretionary trader, you could potentially test these tips through demo trading. In systematic trading, this is easier because you are able to test ideas and strategies before investing money in them.

Systematic traders are similar to football coaches who can analyze, track and monitor the performance of their teams. They must understand what algorithms can be applied to which markets. For example, what applies to a highly liquid market will differ from what can be used on an illiquid market.

3. People are quick to jump in on trends like cryptocurrency with no education on how to be successful.

The opportunities in the cryptocurrency market are similar to gambling if you don’t have enough education in trading or have the wrong approach. The high volatility and the stories of people who got rich with Bitcoin provide opportunities to speculate, but the downside is that the fast movements can drag one from riches to rags. With the boom in trading, many have suffered considerable losses since the end of 2021.

Bitcoin has lost nearly 40% of its value since November 2021. It was once at $67,000, then fell as low as $30,000, and then went up again to $60,000 before going down below $30,000. Experienced traders are generally careful when it comes to cryptocurrencies. It’s important to diversify and only invest a small part of your portfolio in digital coins.

4. Many traders underestimate their risk and lose big.

Many traders just focus on acquiring the tools that will enable them to analyze markets better and make decisions faster. They often realize too late that what matters the most in trading is not the goals you have set, or even the resources at your disposal, but that you have a sound risk control strategy from the onset. Trading is a marathon, not a sprint.

The Real Secret to Success is Perseverance

The real secret to success in trading is patience and perseverance. I’ve experienced many failures in my career as an independent trader, and each time I fell down, I refused to give up as my passion for trading motivated me to keep going. Slowly, I turned failures into successes, won the World Cup Trading Championship four times, and set a world record that remains unbeaten to date.

You may not get rich quickly if you choose a systematic approach to trading, but you will become independent as you learn to build your own trading system and earn a living on the stock exchange. You will look forward to making the best out of the economic shakeouts of the future.

Image Credit: David Mcbee; Pexels; Thank you!

Andrea Unger

https://www.youtube.com/c/UngerAcademyENGLISH

Andrea Unger is a full-time professional trader, President of The Unger Academy and author of The Unger Method. Andrea is the only Four-Time World Trading Champion (2008, 2009, 2010, and 2012), he’s an honorary member of SIAT (Italian Society of Technical Analysis, a branch of IFTA) and speaks throughout Europe, America, Australia and Asia.

Politics

How to Find a Professional Design Team

Published

on

Low-Cost Business Ideas for 2022


A business that wants to grow and scale will need a design team. According to Firstsiteguide, 70% of small-to-mid-sized enterprises invest more in their digital presence. As companies began to move online, the demand for user-friendly software to attract large numbers of customers has increased.

If existing enterprises require designers to create a website or application, startups also hire specialists to develop a product design. Software is essential for sales and recognition, so managers carefully approach personnel selection. If you’re looking for an experienced design team and want to know how to choose the best one, check out the tips for finding the perfect candidates.

When to Look for Designers

The online market is constantly improving, and with new digital features, customers are no longer willing to collaborate on the old model. To avoid losing your clients, you should keep up with innovations: update a legacy interface, introduce new communication ways and think about a payment system. Rapid adaptation gives the company a guarantee of maintaining sales and image.

Selling software needs a convenient and simple design, but only some entrepreneurs decide to improve it. To determine if it’s time to involve a designer in the project, analyze your situation:

  • you do not have a selling website design or your product design;
  • you are constantly selling your product or service using the software;
  • you are not satisfied with your design quality at the moment;
  • your potential users are not willing to interact with the content;
  • your product design is different from the design of the application.

If you are familiar with these issues, your business needs an experienced team of designers who will analyze the product and create a modern structure for productive work with clients and partners.

Types of Design Teams

Before starting the search for specialists, managers decide on cooperation options. There are two types of employees: in-house and outsourced. Each has its pros and cons, making a choice more difficult.

In-house Designers

In-house specialists are full-time employees engaged only in the company’s project. They are fully involved in internal workflows and communicate closely with the team. In-house designers understand the product they work with, its values, and its philosophy. It is much easier for the manager to control the result of such an employee and set new tasks at no additional cost.

In-house designers are well-versed only in a particular industry, so tasks from other niches can cause them difficulty. Also, constant work on one project can lead an employee to burnout and dismissal. The primary in-house designer disadvantage is the expense of sickness and vacation pay. While outsourcing teams only budget for working hours, a full-time employee also counts on vacation pay.

Outsourcing Team

The outsourcing team is specialists who come to the company for a specific project or task. They help businesses free up time for more important things or help with tasks businesses can’t handle. Each outsourcing specialist offers a wide range of knowledge as they constantly interact with different niches.

A significant advantage of companies providing outsourcing or outstaff services is strict personnel selection. They choose only experienced employees and introduce them to the modern features of the digital environment. Outsourced teams do not require payment in the event of an employee’s illness or vacation. If one of the employees falls ill or is unsuitable for your project, they replace them with another in a short time.

The main disadvantage of outsourcing is the price. You need to pay for each hour of work of each specialist, reducing the quality of cost control. Also, you will be unable to assign additional tasks to an outsourced designer in other areas, which sometimes burdens internal processes. Outsourcing workers cannot be trained for themselves, as they come to your company for a certain period and work only on the agreed tasks.

Signs of a Professional Design Team

Meeting future colleagues for the first time can take time to determine their competence fully. Since candidates want to make a good impression, they will highlight their good qualities while glossing over their flaws. Catch the details to avoid falling for this trick and make the right decision.

Creative Portfolio

The portfolio of a professional design team should impress every beholder. And this does not apply to individual works but to the entire portfolio. When selecting candidates, check the quality of each design rather than picking only the best.

To understand your compatibility with potential employees, find a project similar to yours in their examples. If the design team already has experience in your industry, they know how to interact with your audience and hook them for a successful sale. Experienced specialists will tell you about your niche’s design features, what design details they can add to software development, and which ones you should avoid.

Teamwork Ability

If you are hiring an outsourcing team for a project or using an outstaff, you need to determine how these people will interact with your full-time employees. Since designers communicate closely with developers and project managers, they will have to find a common language to understand and support each other. At the interview, ask your future designers about their attitude to working in a team with employees from different departments.

Organizational Skills

The outsourcing design team is fully responsible for the work specified in the contract. The project implementation is a long, complex process, but the specialist must adhere to the designated deadlines. The ability to self-organize and write a clear action plan to avoid going over budget is an important criterion when selecting web designers.

A person’s design skills, as well as managerial skills, play a significant role in the successful completion of a project. Experienced workers will competently build an action plan, and you will be calm about the timing of work completion.

Continuous Improvement

One of the vital signs of a good specialist in any field is the desire to grow and develop. Progress does not stand still, and the digital environment offers new solutions for IT engineers. Since any leader wants to make gradual progress in their product, they will opt for a designer who wants to learn something new and implement it into current projects.

An experienced worker will make changes to avoid confusing the client and let them get used to the latest software version. Thanks to the constant improvement of the user experience, the business will not only scale but also increase sales.

Where to Find a Professional Design Team

Finding a reliable outsourcing development team is a manager’s first and most challenging task. Many entrepreneurs need help finding professionals with extensive experience in their industry and how to make sure that they are experts.

The best way to search quickly is word of mouth. Ask for recommendations from your friends or colleagues who will tell you the right decision. You can also search the Internet yourself. The most popular sites for designers are Clutch, Dribbble, and Behance. These resources provide complete information about the company, customer reviews, ratings, and examples of work. Having found an attractive offer, you can read reviews about the design team on third-party resources and conclude.

Hiring employees is a responsible job that must be approached with caution. Don’t be afraid to ask questions to learn as much as you can about designers’ expertise. Hiring the right people can build a successful business and achieve your goals faster than your competitors.

Featured Image Credit: Provided by the Author; Thank you!

Elina Nazarova

Chief Marketing Officer of Powercode

Elina is accountable for digital strategy development and implementation. She is certified in business and startups development and has more than 5 years of experience in content writing and management. Her core belief is that well-designed digital transformation is able to lead any business to success.

Continue Reading

Politics

No Cookies? Retention.com Helps Provide Privacy-First Actionable Data

Published

on

Brad Anderson


The ongoing struggle over safe data management continues to heat up. Third-party cookies have had a bad rap for years, and while their future for providing actionable data remains murky, it doesn’t look good.

This leaves businesses scrambling to look for new, more ethical ways to collect and utilize customer data. This is especially the case in an information-first environment that has no intention of reducing the importance of analytics going forward.

Retention.com is a revolutionary e-commerce retention marketing solutions provider that has been sounding the alarm on the demise of third-party cookies for a while now. In response, the innovative brand has developed industry-leading identity resolution technology. This offers timely aid to companies looking for alternative customer data management solutions.

Retention.com has created a unique, user-friendly approach to first-party actionable data. Before considering its impact, though, let’s start with the major issue facing marketers at the moment: the slow but steady death of third-party cookies.

The Delayed (But Inevitable) Doom of Third-Party Cookies

Digital marketing has always relied on cookies. This browser-based form of tracking analyzes basic user behaviors, from dwell time and frequency of site visits to past purchases.

Sometimes brands gather this information directly from a consumer for internal use. Often, though, it’s collected by others and utilized across various other websites without consent — something called third-party cookies.

Third-party cookies are an unpopular form of data collection.

In fact, they’re not just unpopular. They’re unsafe, which is why Google has announced it will phase them out in the name of greater data protection and consumer security. However, the search engine giant has delayed this deprecation process to 2024 (as of the time of this writing).

Even with the delay, the removal of third-party cookies still poses very real concerns for e-commerce businesses. Any company that doesn’t want to be caught flat-footed by the shift when it does finally take place needs to find an alternative to third-party data now.

The Struggle to Capture Actionable Data from Customers

For those who lean on third-party data to market and engage with consumers, the impending doom of third-party cookies is a monumental concern.

Even for those who don’t tap the unsavory data source, it still leaves them with the challenge of capturing customer data first-hand — something referred to as first-party data. Brands can glean first-party data through various tools like surveys and sign-up forms, but these are only effective up to a certain point.

For instance, consider a customer who visits an e-commerce site from their desktop computer. The visitor ignores a request to sign up for their newsletter. They start looking at products and then leave without making a purchase.

They could be at any point in the sales journey. Perhaps they are discovering information on a sales page, adding items to their cart, or even looking for a promotional code. Regardless, if they leave before clicking that all-important “complete purchase” button, they disappear into the ether. They leave no possible way of following up.

To make matters worse, they might hop back onto the site later from their phone, and the company wouldn’t even know that it’s them. The visitor would have to start the purchase process all over again, too, making the likelihood of completing the activity that much lower.

All of this can be resolved with actionable data.

When a brand has basic customer data, it can reserve its clients’ past activity. It then catalogs their preferences and streamlines future purchases. With third-party data on the way out and a cookieless future ahead, though, companies must find effective ways to collect first-party data if they want to boost ROI.

That’s where Retention.com comes into the picture.

Retention.com Streamlines First-Party Data Collection

Retention.com has developed a solution to first-party data collection in the form of its identity resolution software, Reclaim. This addresses a key area of underperforming ROI that the e-commerce retention marketing solutions provider refers to as “abandonment revenue.”

The definition of the term is in the name. When potential customers abandon a sales funnel, they leave unrealized revenue behind. When a company doesn’t have its website visitors’ personal information, it can’t follow up or provide personalized interactions.

Reclaim boosts abandonment revenue as much as 10 times over. The software does this by quickly and effectively tying unidentified customers to first-party cookies. This turns anonymous e-commerce site users into bonafide, real-world individuals.

The ability to identify who is on a site can have a dramatic effect on engagement (and consequentially ROI) by triggering different activities, such as cart abandonment emails and SMS flows. This leads to more browsing and greater dwell time.

One of the key factors of Retention.com’s revolutionary marketing software is its ease of use. Reclaim doesn’t require days of setup and integration. It takes hours to implement the code and proliferate it across an e-commerce site. This creates a quick-and-easy, set-it-and-forget-it solution that businesses can use to start tapping into their abandonment revenue streams. The software is even designed to scale along with businesses as they grow.

No Cookies, No Problem

As third-party cookies continue to die a slow death, every e-commerce business faces the prospect of a dramatic change to the status quo. The question is, which enterprises will be able to find creative solutions to help them operate in a cookieless environment?

Retention.com offers a simple, effective way to outsource the issue of first-party data collection. Its Reclaim software takes less than a day to implement and integrates with countless e-commerce applications.

This fast application leads to near-immediate results in the form of boosted abandonment revenue. Customers begin receiving SMS and email communications through ethical first-party cookie connections that offer personalized messages and encourage results-oriented engagement.

To top it off, the service is affordable, and customers only pay for incremental performance. Retention.com even offers its “Flow Insurance” as a 100% guaranteed refund if clients don’t see their abandonment flow revenue improve.

From the ease of use to its impressive impact, Retention.com’s software solutions are showing e-commerce companies that it’s perfectly possible to not just survive but thrive in a cookieless world.

Featured Image Credit: Pixabay; Pexels; Thank you!

Brad Anderson

Editor In Chief at ReadWrite

Brad is the editor overseeing contributed content at ReadWrite.com. He previously worked as an editor at PayPal and Crunchbase. You can reach him at brad at readwrite.com.

Continue Reading

Politics

What is Metaverse and How is it Changing AR/VR World?

Published

on

vr-augmented-reality


VR augmented reality has already been a mainstay of science fiction. The idea has been the subject of numerous works of fiction and popular media, but we are finally at the point where it can become a reality.

It’s safe to say that the Metaverse has been the subject of several discussions and arguments. While some see it as the future of technology, others dismiss it as nothing more than a fad. The reality is that the Metaverse is here to stay, and its effects on everything from our mental health to our ability to do our jobs will be profound.

The Metaverse: what is it?

The term “metaverse” refers to a network of socially-connected 3D virtual worlds. It’s defined as a simulated online setting that uses VR augmented reality, blockchain, and social media concepts to create environments that seem very much like the actual world but allow for more nuanced human participation.

Everything can be found there, from sports to conventions to retail therapy. Putting on a headset and logging into the virtual reality portal is the only way into Metaverse.

Moreover, Mark Zuckerberg, creator of Meta (formerly known as Facebook), estimates that it will take five to 10 years for the core features of the Facebook metaverse to become standard.

On the other hand, the Metaverse is growing at an astounding rate.

Even though not everyone has access to them, ultra-fast broadband connections, virtual reality headsets, and always-on online worlds are now a reality.

Now we will examine the two most distinguishing features of a Metaverse platform:

Interactivity

The Metaverse tech would combine elements of vr augmented reality. Space and time in a Metaverse app should feel roughly equivalent to real life.

Visual, aural, and kinetic interaction modalities are all possible in the real world. Similar digital collaborative opportunities are anticipated from a Metaverse platform.

Interoperable

One of the requirements for a successful Metaverse software is that it can function on multiple Metaverse systems (s).

Creating applications for the Metaverse hints at a wide range of untested technology possibilities.

The developers, whether newcomers to the Metaverse or established figures with deep roots, might create either restrictive or flexible features.

Furthermore, there is an abundance of resources that can be used to bring this envisioned future into being. Unreal Engine, Unity, Amazon Sumerian, Blender, and Maya are just a few examples of such development environments.

Learn more about the practical applications of the Metaverse and the benefits it provides by looking at examples from other industries.

According to Bloomberg Intelligence, the Metaverse technology market could be worth $2.5 trillion by 2030, up from a projected $800 billion in 2025.

The sector is getting the outside stimulation and attention it needs to change both vr augmented reality technology and the future. Let’s look at some pioneering initiatives that have led to the development of Metaverse tools.

For example, the Metaverse Rules contain the following:

Only one Metaverse exists. All people should have access to the Metaverse.

The Metaverse exists beyond everyone’s control. The Metaverse must be accessible most of the time.

Most importantly, the Metaverse doesn’t care about your hardware. Both the internet and networks are part of the Metaverse.

When you put on your VR headset, you enter a virtual reality (VR) environment called the Metaverse.

It has enormous potential in many areas, including retail, business, and the workplace. In the Metaverse, real and virtual worlds are fused using tools like VR augmented reality (AR), describing a vision of a linked 3D digital global (AR).

Virtual worlds like Decentraland and online gaming platforms, like The Sandbox, are only two examples of existing metaverses. Participation in the Metaverse is growing at an unprecedented rate in the game industry.

According to Participation in the Metaverse is growing at an unprecedented rate in the game industry according to 65 % of the global population has participated in media extravagance, such as viewing a television show, movie, or premiere within a video game or working together to create a live concert.

Who Uses the Metaverse the Most?

Sixty-nine percent of humans have engaged in social activity, meeting new people, attending a group gathering, or visiting a virtual world while playing a game.

Almost three-quarters (72%) of people on Earth have engaged in some form of financial activity within the Metaverse. This can include the purchase of virtual goods, the purchase of virtual money, the purchase of digital goods from digital markets, or the purchase or sale of other gamers.

Augmented Reality (AR) in the Virtual World

Market leaders like Facebook’s Mark Zuckerberg are betting big on the potential of the “embodied internet” that is the Metaverse. It’s either a virtual reality experience or something that can be brought into your life (via AR).

The popularity of virtual worlds is on the rise, but the actual Metaverse may be the future wave regarding augmented reality.

The most natural way to supply digital content to the human perceptual system is to incorporate it directly into our physical surroundings.

How Does Your Brain Make a Unified Representation to You?

Your brain creates a unified representation of the arena based on information gleaned from your senses of sight, hearing, touch, and movement.

As long as virtual factors are powerfully recognized in your environment in terms of space and time, this is possible with augmented reality, even with reasonably poor visual constancy.

Now that our ability to judge distance (or intensity perception) is refined, it is not hard to believe this.

Augmented reality will inevitably become the norm. It may replace smartphones and computers as the dominant interface to digital content, and it will undoubtedly eclipse virtual reality as the primary doorway to the Metaverse.

Augmented reality may give us superpowers, allowing us to change our surroundings with a finger or an eye.

VR Augmented Reality in the Metaverse

Customers can now bridge the gap between their digital and physical worlds by entering the Metaverse thanks to virtual reality.

We will be able to explore new locations and make reports more accessible to more people by using virtual versions of people, objects, and landscapes.

In a nutshell, it’s an alternate reality where you can do all sorts of things like go to class, work, a concert, or shop without ever leaving your house. Virtual reality allows users to experience events, shop, and learn about new opportunities. Augmented and mixed reality, on the other hand, will open hitherto unimaginable possibilities for enhancing the physical world around us.

There are already add-ons to the XR landscape, such as haptic commenting tools, that will allow us to feel the handshakes and embraces of our contacts no matter where we are physically located.

Featured Image Credit: Provided by the Author; Thank you!

Siva Subrahmanyam

SEO Analyst at PlugXR

A SEO Analyst at PlugXR, I manage the company’s search engine optimization strategy

Continue Reading

Copyright © 2021 Seminole Press.