0Posted by Michael Glass on June 2, 2012 at 3:21 pm
Why Hire an
Investing Coach
Investing coach, money coaches, financial coaches, etc; there are so many words to describe an expert who will help you make sensible financial and investment choices. Sure, you may think “Why should anyone tell me what I can do with my money?” This is what most people think of each time they are offered investing or financial help. Others may even say” I am doing fine, why do I need help with my finances?” It is common to feel secure when you are having a great time spending your hard earned cash but what about tomorrow, what about your family or how about the economy?
An investing coach will not just be there when you have money to spend on investments and businesses; he is an expert who will help you live your dream. Just think about this, the money you spend today may double or even triple when you make efficient financial choices and this is only through the help of an expert investment professional. Here are more reasons why an investment coach is the best investment opportunity you will ever make:
If you have recently acquired a large sum of money and you would like to spend it wisely, then an investment or financial coach can help plan for the right steps to reach financial freedom. Do not waste time spending, start investing to reap larger profits in the future!
If you want to formulate an action plan to take care of all your finances or to generate more income, then a financial coach can help develop a concrete plan for you and your family. You can be sure that you are not following a simple generic plan but a plan that is formulated according to your needs.
If you would like to retire early and not work until you are dead as a doornail then you must hire a financial coach to help you make appropriate plans today to be ready for a great retirement in the future.
If you have tried to make financial decisions in the past but was not as successful as you want to be then you may hire an investing coach to help you find the best possible solution to your progress. Together, you can assess what’s hindering your financial progress and start doing something about it as early as you can.
If you want to learn strategies to focus on your goals in investing and financial planning then an investment coach or financial adviser can help you out. Let’s face it, distractions are everywhere and not everyone is resistant to financial distractions; you may learn techniques on how to seriously manage your wealth and learn to fight financial distractions along the way.
If you realize that you want to get off the financial roller coaster and to make steady plans to become financially stable as soon as possible, then an investing coach may help. Together you can plan ways to take care of your finances today and to make sound investments for you and your family’s future.
0Posted by Michael Glass on December 2, 2011 at 2:13 pm
Do You have
Enough Money
to Invest?
Planning on your total investment ability is crucial to setting up your trading plan. It is
impossible to design a trading strategy without knowing the amount of your investment.
A careful look at your overall financial picture is critical in determining your ability to
invest in both short and long term trading.
You will need to answer the following questions to determine your financial ability to
trade:
<strong>A) Is my job stable?</strong>
While you may have been with your company for 10 years (or more) there is no
guarantee of job stability. Many companies go through downsizing and while you can
look at how stable your job is today, you must be aware that there is no guarantee that
you will still have your position a year from now.
In looking at the stability of your job, take into consideration how many ‘new’
people have been hired, what their qualifications are, and where your particular job fits
into the ‘big’ picture in your particular company.
Today, none of us are guaranteed to be employed by the same employer for our
entire careers like our parents may have been. Oftentimes company policies change
resulting in changes to your career which you have no control over.
<strong>B) What are my savings?</strong>
Taking into consideration your current level of income, your savings should be
substantial enough to carry you through any ‘difficult’ periods, including job loss,
uninsured medical costs, and other unexpected expenses.
It is never a good plan to invest all of your savings into trading. While you do
your best to minimize your risk, there will always be a risk to trading and that could
result in substantial loss of your initial investments.
<strong>C) Have I planned for emergencies?</strong>
You must always have a back up plan. For those of us who own homes, we know
that furnaces break down, roofs need repair and other unexpected things come up all the
time. It is crucial to your overall financial health to have contingencies in place for these
types of emergencies.
While the overall goal in trading is always to show a profit, it is critical that you not
depend on these profits to handle emergency situations that come up. If you were to
lose your job tomorrow would you be able to continue to maintain the lifestyle you are
leading today for a period of time (six months is typically a good rule of thumb).
<strong>D) Do I have sufficient insurance, medical, life, homeowners, auto?</strong>
It is never recommended that you begin a trading plan without assuring that you have
sufficient other assets that your family can depend on. You certainly would not consider
investing your last $1,000 in the stock market with the expectation of doubling or tripling
your investment in a short term trade, and investing in any type of stock market trading
should never be considered good financial planning.
<strong>E) What is my other household debt?</strong>
Credit cards, auto loans, student loans, etc., all take their toll on your income, your
savings and your overall financial health. Be sure that you have sufficient savings to
accommodate all of these financial needs for a period of time that you determine to be
safe in the event that you should lose your initial investment in any stock or option trade.
When setting out your trade plan, you should take all of your financial obligations,
savings, and the overall financial health of your family as a whole before you determine
the level of investing that you are prepared to do. It would also be beneficial to you to
discuss your intentions with your tax preparer and see what tax concerns trading will
create for you, as capital gains and other considerations will impact your trading patterns
and abilities.
1Posted by Michael Glass on November 11, 2011 at 1:05 pm
Are You Ready
to Begin Investing
Developing Your
Long Term Investing Goals
You’ve now had the opportunity to establish your short term goals and now it’s time to think about your longer term goals. These can be as short a period of time as ninety-days or as long as five years.
So if we break it out into pieces, we can easily determine the proper course of action for your trade plan.
Setting up longer term goals takes much more planning than setting up your shorter term goals. We’ve already established our account with a broker we’re comfortable with and we’ve prepared for some of the eventualities that can come with shorter term trading so now we are ready to begin setting our a longer term plan.
Since options trading can be done in the form of ‘day trades’ (i.e. trades that are liquidated at the end of the trading day they are purchased), or in incremental trades of 30, 60, or 90 days (or longer if you look at investment products such as LEAPS), it is wise to begin thinking in increments of trading.
If you’re ‘long term’ plan is for thirty day trading then your investment strategy will be different from those who have a longer-term plan (say 90 days or more) and you will want to invest slightly differently.
So let’s discuss various trading techniques that you can accomplish in 30 days.
You have invested in shares of DELL and have purchased 1,000 shares of the stock at a cost of $27.00 per share, but are concerned that the stock price could drop below that. You want to do your best to protect this asset, and because of that you decide that an option is the best way to do so. Armed with this knowledge you are prepared to make your first trade in a PUT option, and a review of the available puts helps you to determine that your best price will be at the 30.00 share level, just slightly above your original purchase price. You find that the put option is trading in the 2.60 price point and determine that you will purchase 10 put contracts which expire in 30 days, (giving you the option to sell the stock at 27.50 per share). Your total investment for the contracts will be $2600 plus broker and transaction fees (keeping in mind that each contract is for 100 shares and 10 contracts therefore is 1,000 shares). As it turns out the stock drops to 26.00 per share before your contract expires and you now decide to exercise your option to sell the stock at 30.00 per share. The seller of your contract has committed to you that they will purchase your shares for this amount so you can now sell your 1,000 shares of DELL at $30.00. What would have happened if you did not have the option?
Your initial investment of $27,000 (1,000 shares of stock at 27.00 per share) would have shrunk to $26,000 resulting in a net loss of $1,000 (plus commissions and trading fees), instead you were able to realize $30,000 from the sale of the stock. Even after taking into consideration the cost of the option (and associated fees) you have realized a small gain (depending on commissions and trading costs) of approximately $400 on the sale of the
stock.
0Posted by Michael Glass on October 29, 2011 at 11:06 am
Weekend Stock Market
Technical Analysis
Trading Plan
Here is our Weekend Stock Market Technical Analysis Trading Plan for Saturday, October 29th. In each video update, we attempt to identify high probability trading setups for the next week. We also look at the key market moving events of the past week including the Eurozone increasing its bailout package over 1 Trillion dollars. We then pull up the charts to identify key technical analysis price levels for the S&P 500. We then look to see if some of the market leaders are pulling the market higher or lower (Apple, Amazon, Google, Goldman Sachs, Netflix and Priceline). We also try gain insight to the market’s future direction by looking at the charts for The Dollar, Gold and Crude Oil. Finally, in our education spotlight, we continue to look at what separates winning and losing traders. Today we look at the importance of developing a process for filtering your trades and using dual timeframe agreement for confirmation.
1Posted by Michael Glass on October 27, 2011 at 2:57 pm
Are You Ready
to Begin Investing
Developing Your
Short Term Investing Goals
You’ve reviewed the outline of how your trading plan should start and you’re now ready to begin the initial stages of your trade plan. We’ll step through each piece in this series, and we will walk through the process of each step so that you can establish your trade plan and provide for contingencies.
As you recall, our first step was establishing your goals so now we need to determine exactly what are your goals?
In order to fully establish your goals you’ll need to look at both short and long term goals. For the short term, you will want to establish attainable goals that can be adjusted for long term prospects.
So for the short term we’ll look at what your goals are over the next 30 days and we’ll talk about the steps to achieve them.
Short Term Investing Goals:
A) Determine investment objectives
Everyone has a different set of investment objectives. There are those of us who trade for the sheer enjoyment of it and those of us who trade for tax reasons. If you’re trading for enjoyment, you’ll get far more enjoyment out of investing with a specified profit in mind, and for tax purposes you’ll be looking for both short and longer term investments.
For short term investing, you’ve decided that equity options are your investment of choice. Initially, you’ll want to take a look at the group of equities that most interest you, whether it’s a specific company or it’s a specific industry group. For instance, you may find that IBM doesn’t really appeal to you, but DELL does. In this case, you’ll want to focus your market research on DELL and find out the short and long term trading patterns that have been established.
B) Researching trading patterns
So you’re not quite sure where to start!! Your options for beginning research are as numerous as the number of companies that are out there. You can contact the company directly and ask for company reports, you can go to the companies website and review annual reports online, search out rating services (such as Morningstar, Zach’s or even the SEC website where you can find reports in Edgar), or you can do your own market research right online with various quoting services that can offer you unbiased information. You also can seek out an investment advisor who can help you through this process.
C) Understanding what you’re reading
It’s important that with the maze of information that you are researching that you find a way to comprehend what you’re reviewing. There are many resources available to you to make sense of all of the numbers and you should avail yourself of them. Simple searches on the internet can help de-mystify all of this data.
D) Setting your investment accounts up
You’ve figured out that you wish to invest in DELL options and you’ve done all of your research but you’re not quite clear on how to invest in the options. The first thing you will need to do is to find a broker to help you with these transactions. There are disclosures to be made by the broker to you, including their fees when you invest in a trade. Don’t forget to ask the right questions of your broker, including minimum investments (some brokers will charge a fee unless you guarantee a certain dollar amount in trades), fees for buying and selling (some companies charge different fees for purchase and sales especially with options trading), and you’ll also want to find out about settlement dates.
Your broker should also offer you all of the available literature on options trading. This includes certain required publications. You will have forms to fill out which may be confusing. Do not hesitate to take the time to read them thoroughly before signing anything! Don’t let your broker dictate what you’re doing, if you’re not comfortable with what they’re telling you, look for someone else!
0Posted by Michael Glass on September 24, 2011 at 3:49 pm
Weekend Stock Market
Technical Analysis
Trading Plan
Here is our Weekend Stock Market Technical Analysis Trading Plan for Saturday, August 13th. In each video update , we attempt to identify high probability trading setups for the next week. We also look at the key market moving events of the past week including the S&P downgrade of the US Debt and continued banking concerns in Europe. We then pull up the charts to identify key technical analysis price levels for the S&P 500. We then look to see if some of the market leaders are pulling the market higher or lower (Apple, Amazon, Google, Goldman Sachs, Netflix and Priceline). We also try gain insight to the market’s future direction by looking at the charts for The Dollar, Gold and Crude Oil. Finally, in our education spotlight, we look at our job as traders. Should a trader try to hit for power or for average?
0Posted by Michael Glass on September 18, 2011 at 11:10 am
Weekend Forex
Technical Analysis
Trading Plan
Here is our Weekend Forex Technical Analysis Trading Plan to help day traders to learn how to trade Forex Currency Pairs by identifying high probability trading setups. In this video, we discuss key technical analysis price levels for USD/CHF EUR/USD GBP/USD and Gold. We look at each forex pair on multiple time frames to identify key support and resistance price levels. We also look at price levels to setup on various pairs based upon the current trend.
0Posted by Michael Glass on September 4, 2011 at 12:38 pm
Weekend Forex
Technical Analysis
Trading Plan
Here is our Weekend Forex Technical Analysis Trading Plan to help day traders to learn how to trade Forex Currency Pairs by identifying high probability trading setups. In this video, we discuss key technical analysis price levels for USD/CHF EUR/USD GBP/USD and Gold. We look at each forex pair on multiple time frames to identify key support and resistance price levels. We also look at price levels to setup on various pairs based upon the current trend.
0Posted by Michael Glass on September 3, 2011 at 4:34 pm
Weekend Stock Market
Technical Analysis
Trading Plan
Here is our Weekend Stock Market Technical Analysis Trading Plan for Saturday, August 13th. In each video update , we attempt to identify high probability trading setups for the next week. We also look at the key market moving events of the past week including the S&P downgrade of the US Debt and continued banking concerns in Europe. We then pull up the charts to identify key technical analysis price levels for the S&P 500. We then look to see if some of the market leaders are pulling the market higher or lower (Apple, Amazon, Google, Goldman Sachs, Netflix and Priceline). We also try gain insight to the market’s future direction by looking at the charts for The Dollar, Gold and Crude Oil. Finally, in our education spotlight, we look at what holds us back from pulling the trigger on a trade. In the end, it is usually a lack of confidence in your trading system or oneself.
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