$5K In One Day: One Trade Can Change Your Life, Here's How

I’ll like to first start by sharing that it was a thrill earning 5,000 dollars in one day from trading. I’ll also like to share for the record that this small victory wasn’t a best guess but took patience and effort. In this short essay I’ll like to share my 4 approaches to trading that helped improve my trading decisions.

-?????????Start with learning the market!

Research Research Research! A long-time trader told one of my trading friends that if you take the time out and research the company, competition, seasonality, etc. then you’ll save money while investing. It’s important not to purchase a trade option or any shares in a company until I did my research. Having that extra information can lead to making a better-informed investment decision.

-?????????Take advantage of seasoned trader influencers!

The benefit of taking of advantage of studying methods and strategies used by experienced traders is information sharing. What I learn from a classroom and textbook will only lead me so far when learning how to invest. Some trader influences offer small investment packages for beginners to learn more about investing. The world is full of smart people who don’t have a college degree and are skilled in particular areas. I found it to my advantage watching their videos to learn about different investment strategies to execute.

-?????????Learn patience!

Take your short-term profits when they are favorable but long-term investing can save you a lot of money. I didn’t just work on my patience in the investing world, but I also practice personally. For example, TIDALS LLC a health and beauty retail company I own took me a month to get registered with the state of Arkansas. With COVID-19 having a bad effect on the post office supply chain, it slowed down letters and packages. My company supply chain became affected to due to the pandemic with my shipments arriving later than expected. Through sheer perseverance I was able to negotiate new terms with my suppliers and learn patience under the adjusted supply chain system.

-?????????Form groups within your network!

There’s an old saying that goes, “Your network is your net worth”. I encourage everyone don’t be afraid to reach out to other people you know and ask, “Are you a retail trader?” You’ll be surprised who you’ll find within your associate or professional circle that invest in the stock market. People are willing to share information because you both share the same interest. Sometimes when networking I was able to form my own group of retail traders to further collaborate about different sectors or stocks.?