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Advantages of Day Trading | Independent Traders

Advantages of Day Trading, Day trading is one of the newest ways for independent traders to make a living without having to work for a registered firm.

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Advantages of Day Trading Independent Traders

Day trading is one of the newest ways for independent traders to make a living without having to work for a registered firm, obtain a Series 07 license, or pass any exams. Anyone over the age of 21 can start buying and selling securities in the privacy of their own home after doing about 20 minutes of paperwork.

There are dozens of advantages to pursuing this course, including the ability to profit in up or down markets, never hold shares overnight, and more. Here’s a brief list of the critical advantages of day trading.

1. Profit in Good or Bad Markets

Most independent entrepreneurs who deal with the securities markets take both long and short positions. The essential advantage here is the ability to profit whether a particular company’s share price rises or falls, as long as you predict the direction correctly.

2. Don’t Worry About Fundamental Analysis

Fundamental analysis looks at the overall health of a company and is typically used to assess price changes and risk on a long-term basis. There’s no need for it in short time frames. That means if you usually hold a position for less than a few hours, you can apply one or more technical strategies to all your trades.

Advantages of Day Trading

3. Avoid Pattern Day Trading Rule with Proper Account Size

One of the most attractive features of buying and selling securities during a single market session is that there is never a risk of losing money at the opening bell. You’ll be holding nothing at the opening and closing of each business day. All your risk is closed out before that final bell. Of course, it’s essential to understand how the pattern day trader rule works.

If you buy and sell the same security on four or more round trips within five consecutive business days, you’ll be required to have at least $25,000 in your brokerage account. If you break the rule and don’t yet have an account that large, you’ll be frozen out of doing any transactions for 90 days or until you bring your account up to the minimum balance, whichever comes first.

4. High-Profit Potential

Day trading is one of the few areas of the securities field where independent, unlicensed people can earn generous profits in a small timeframe. There’s also a potential for large losses, and a person can even lose their entire investment if they overfund just a few positions and face consecutive losses. But with smart money management and a cautious attitude, it’s possible to earn a living by closing out your positions before the day’s final bell.

5. Low Startup Costs

Unlike many at-home business ventures, there are virtually no startup expenses. It’s possible to consider your initial account balance as a startup cost, but that’s misleading because the money belongs to you, and you are allowed to spend it as you wish.

Other than a computer connection, perhaps a few educational books, and a minimum opening balance with an online brokerage, it costs nothing to begin trading stocks and options from your home or office.

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Business

5 Mistakes To Avoid If You Are Going To Self-publish Your Book

To help you address any potential questions you may have, we’ve put together a list of 5 mistakes to avoid if you’re going to self-publish your book.

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5 Mistakes To Avoid If You Are Going To Self-publish Your Book

Self-publishing your book essentially means being your own editor, designer, proofreader, and marketer, not to mention the fact that you also have to write your book. There are many tasks and it will be the first time you face any of them.

For many first-time authors, this process can seem a little overwhelming. After all, how can you be sure you’re on the right track to making your book a success? To help you address any potential questions you may have, we’ve put together a list of 5 mistakes to avoid if you’re going to self-publish your book.

1. “What matters is the inside”

Well, you’re not wrong. Content is king, and it will be what determines the long-term success of your book. However, we often see that authors who make this their mantra end up severely neglecting the more superficial but vitally important elements such as book writing service, formatting, and well-written descriptions. The irony is that if you don’t put effort into the outside of your book, people will never see the inside. It’s really a bit like going on a date, what’s important is the inside, but you have to fix the outside so that people are curious about the important things.

You may not have all the necessary skills in your pipeline, but it is definitely possible to self-publish a professional-quality book (both in terms of content and exterior) without necessarily having any experience. We’ll tell you more throughout this article, and of course, you can always browse our Help Center and blog for more tips, tricks, and guides for self-publishing your book.

2. Ignore criticism and/or comments

One of the best things about self-publishing your book is that you have the freedom to write about topics that tend not to have been explored in mainstream literature. Many publishers do not dare to touch on these topics for fear of not getting a return on investment or because they are niche genres with few but very passionate fans. This can sometimes lead authors to be a little overprotective of their ideas and dismiss any criticism or comments, constructive or otherwise, usually to the detriment of the final product.

Don’t get us wrong here: we’re not saying you should sell out or compromise your creative identity. If you’re not happy with the book, there’s no point in writing it in the first place. However, self-publishing also means self-publishing (for the most part), and that requires a certain objective perspective. That’s why we always recommend that at least two people you trust to read and comment on your work before publishing it.

This is especially true if you want to sell your books once you’ve published them. Getting a couple of people to read and review your book before publication can help eliminate some of the errors you may have missed, plot holes, or undesirable story elements.

3. “My target audience is everyone”

We hear this a lot. There seems to be some widespread misunderstanding about the topic of the target audience, what it is for, and why it is important.

First, let’s eliminate the most common misconception: having a target audience does not mean that said audience is the only one who will buy your book. If you define your target audience as young adults between the ages of 15 and 20, it doesn’t mean you’re actively discouraging people outside that age range from buying your book.

All it means is that you are adapting your writing, your themes, and the aesthetics of your book to make it more appealing to your chosen demographic. It is to ensure thematic focus and aesthetic coherence in your work. This is important because it gives your book its identity.

Mistakes you should avoid if you are going to self-publish your book

4. Thinking that you don’t need marketing to self-publish your book

Marketing is usually one of the topics that authors who are going to self-publish their book have the most problems with. After all, most writers don’t want to become authors for the love of marketing. However, it is one of the essential components to the success of a self-published author.

Unfortunately, we often see writers who only make a token effort to promote their books, or worse, ignore it completely and think that interested readers will find it. While that may be the case for some of them, the vast majority of your potential readers won’t be able to find your book amid all the noise on the Internet these days. Plus, even if interested readers found your book on their own, do you really want to waste the opportunity to sell hundreds of copies with a well-designed marketing campaign?

If you don’t know anything about book marketing, we suggest you check out our guide on how to promote your book. We also have an article on our blog memoir ghostwriting services dedicated to book marketing on social media that you might also be interested in.

Don’t waste time and start promoting your book before its publication! Do some research on your target audience and choose communication channels accordingly. There are several different approaches you can take depending on the context, but the three articles mentioned above will help you get off on the right foot.

5. Assume that people don’t like your book

Sometimes, even if you have put all your soul and love into self-publishing your book, the sales of your works may not go as fast as you expected. Many writers mistakenly interpret this slow start as an indication that their book is a failure, universally hated by everyone, and then give up on writing.

It’s a shame when this happens because most of the time it takes very little to see almost instant improvements in sales numbers. So don’t give up! We are here to tell you that this is perfectly normal and that you should not feel defeated by it. Your book, in all likelihood, is not the problem here. Instead, the problem is often that people simply don’t know your book exists. If you read the previous points we covered in this article, you should already have a pretty good idea of ​​what may have happened and what you can do to fix it.

Usually, the answer is that you need to spend more time and effort on marketing. However, it might be worth asking more people to give you feedback on your book, both in terms of the content and the cover, to see if there is anything you can change to make it more appealing to a wider audience. However, it’s not going to happen overnight, so don’t be discouraged by a slow start. Keep up the good work and spread the word!

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