Here’s a hint, it doesn’t really involve actively trading securities on the stock exchange.
In fact, it isn’t “day trading” at all.
Many investors confuse day trading with money management. Managing your money means mitigating risk. It intels strategically position your funds to appreciate in value while taking on the least amount of risk possible.
When people think of the stock market, their thoughts are filled with the glitter and sparkles of getting rich quickly and easily, and these people get their asses handed to them… Obtaining true wealth happens slowly over time. It takes endurance, and resolve to withstand the ebb and flow of the markets. Not many people can manage their emotions and end up losing.
Instead, wealth management is more about asset protection. Only after your assets are protected should you start to position them in a way that optimizes their accumulation. Wealth accumulation is more about behavioral finance than knowing the markets.
The first thing you should learn in order to begin managing your money like the professionals is the risk/reward coefficient. It is the guiding principle when deciding how to allocation your funds and choosing asset classes.
Learn more about the risk/reward coefficient by clicking here.
Then start learning about the various types of asset classes by clicking here.