Your Questions About Successful Trading Plans

Betty asks…

Do employers care where you studied Journalism?

I am planning to study Journalism along with a double major in University. It seems like Carleton has the most respected Journalism program (other than Ryerson) and I have been planning to go there, but there are other schools that are much more attractive to me in other aspects.

Do employers really take in to account where you studied? if so, I would definitely choose Carleton. If not, I may choose a school like Dalhousie.

John answers:

Keep this in mind.

Many successful journalists do not have a university degree in journalism. This is indisputable. If you aspire to become a professional journalist, you can do it via other routes. It will require hard work and dedication and tenacity — no matter which route you take (degree or no degree).

Many graduates with a university degree in journalism will never have a journalism job. There are many different reasons for this. Maybe as many reasons as there are people!

A lot of students and their parents seem to think the purpose of attending a four-year college or university is to acquire skills that will qualify one to get a job.

Acquiring skills that will qualify one to get a job is what students do in a trade school, or in a vocational program. It is not necessary to study journalism to become a successful and prominent journalist, and it never has been.

Daniel asks…

What do you think would be the best invesment option for me?

Pretty much I have around $20,000 in bank Cd’s now earning .25% Which i think sucks.

Considering I had CD’s in 2006 and 2007 earning 5.5% and such

I am considering doing several things, One of them is re-funding my scottrade account with some of the money and buying stocks, and am particularly inerested in stocks INTC and Ford stock, due to thier size and the fact they pay a dividend and are making money.

However when I had a scottrade account before with like 7,000 in it last year I found myself constantly checking the balance several times a day. Made like 10 trades in 2 months and Made like a total of 62 dollars and them asked them to send me a check due to the fact that it was pretty much addicting.

I am also very much interested in Real Estate, thinking about buying some peice of crap house for around 100,000 and then renting it out, I am well aware of the upsides and downsides on that one,

I am in my early 30’s and well, Not really sure what to do in life?

Anyone have a clear answer??

Thank you

John answers:

I would wait for the election antics to settle down and consider what stocks will rise in response to the election and upcoming christmas season. It is foolish to use yahoo for investment advice, I would ask any well trusted relatives, co-workers or fellow investors what they think is going to happen and why before putting that $20,000 anywhere. I don’t know about INTC but I think i (By MEMORY NO REFERENCE) Ford’s stock actually grew so that might be a good idea. China and India are thriving to some degree. Both love car’s from the USA so Ford might not be such a bad idea. Brazil also imports alot of Fords (i think).

I don’t know what to tell you about trading except that it is not for everyone.

Real Estate is iffy and as usual, location location location. Prices have been going up for the past several years in general. The economy is recovering but there still are bruises. In places like New York and Atlanta, prices have been falling.

Lets assume you find a good building for a fair price in an area where the local government plans to expand. You still need to maintain the building and make sure all of the tenants pay their rent.

Background check everybody, find out where they work and for how long. I have two friends that invested in local real estate. Friend A got a divorce and an injury making it almost impossible for him to follow up on rent payments and utilities. Now Friend A is bankrupt. Friend B found a good place but two of the tenants refuse to pay and cannot be evicted by the police because of problems with the lease. Friend B has to take the two tenants to court just to EVICT them. The last remaining tenant is dying so Friend B decided to cast so mercy and let it slide.

Make sure you know that all tenants will be able to hold up their end EVEN if they are laid off or sick.

Use common sense when looking for a house or apartment building to fix up. Get a well trained inspector to look over any smells or problems that can lead to a future lawsuit.

A crappy house around 100,000? What is it near? Who will it attract? What are the risks?

Talk to people who have made successful investments. Keep a very close eye on both the world and local economies.

If there was a clear answer I would actually enjoy learning about economics.

Good luck! Invest in goods that aren’t going to go anywhere.

Just the other day I was reading about this company that builds ipad type devices that was understocked due to the issues in obtaining and producing the material for ipad screens. Windows 8 is problably going to flop but is built around a tablet system. Are touch screens the new fad? How many people will purchase tablet computers? How many already have tablet computers? When will the surge in tablet computer sales end? How? Why? Research every last detail.

Robert asks…

Are there math courses in university that teach you how to invest in the stock market?

If there is courses that teach you this, can you give me a website so I can check it out. I am planning to go to TrentU in Ontario. So if you can link me a page on trentu.ca you get best answer!

John answers:

To be honest with you, investing in the stock market does not involve extensive knowledge of mathematics. On the contrary, I would not be surprised if the majority of the most successful investors had very little understanding of mathematics.

Most of the time, academics develop the models used in the securities industry because they have an interest in understanding how the stock market works but they have no interest in playing the trading game.

Also, let me warn you that there is no mathematical formula that can give you a concrete answer as to whether or not you should invest in a certain company. The factors involved in that decision are very subjective.

Michael asks…

Have you ever run an indoor golf center?

I am looking for any advice, ideas or information about what makes a successful indoor golf center. If you have anything to share on the keys to success, how to get golfers to play, how much simulators cost, where to locate a center, why golf centers fail, please share. Thanks!

John answers:

1

Research your customer demographics. Gather information on the age, gender and average income of mini golf customers. Research how often your demographic plays miniature golf, how much money they expect to spend, as well as information about magazines they read and stores they frequent. Use this information to scout potential locations and start planning how to target your advertisements.

2

Pick out a location. Look for indoor spaces that are large enough for your mini golf course and located in a good area for attracting your demographic. Remember to check city zoning laws for locations where you are allowed to run a business. According to websitemarketingplan.com, you need to make sure you find a lease or rental with short terms to minimize financial risk for your new mini golf business. A lease brings an obligation to pay for a space whether or not your business is successful. Consult an attorney to ensure your property agreement is right for your business.

3

Compare sports equipment suppliers that sell mini golf equipment and look for the best prices. If the suppliers are unfamiliar to you, consult the Better Business Bureau to make sure they are reliable. Figure out the minimum amount of equipment you need to get started. This will help keep your initial costs down. Don’t forget to check places such as eBay, Craigslist and classified ads for deals on used equipment.

4

Write a business plan. According to the Small Business Administration, a business plan should have four main sections that include a description of the business, your marketing plans, a finances section with profit projections, and a section for details of your management structure.

5

Invest in business cards. Make sure to have enough cards printed that you can hand them out to everyone. Planning and starting your business will be a big part of your life for some time. Anytime you consult a trade organization, talk to a property owner or discuss your business ideas you want to be able to hand them a business card.

Linda asks…

Is day trading in the stock market rewarding?

I am thinking about becoming a day trader. Does anyone know about day trading?

John answers:

Yes trading in the stock market is very rewarding and I know about trading since I spend 40+ on Wall Street and have managed various brokerage operations including all types of trading functions..

Before you can day trade you must first know how to trade and before you trade you must first know how to invest. You must know the products and the markets traded in those markets and more importantly you must know the rules that govern those products and markets, You need to address four major policies and have very strong discipline to follow them
1 – You need a written sound trading/investment plan with rules that will not only help you but more importantly protect you, mostly from yourself. Always use stops either to protect you on the down side or to lock in profits on the up side. Never trade on emotions, when emotions get involved walk away. Don’t try to out-smart the market, you’ll loose but if you always take what the market is willing to give you, you’ll be successful. Other words, you don’t trade against the trend since the market is always right.
2 – A written money management program is essential. Remember never invest 100% of your capital into any one security and never have 100% of your capital invested. Never let a loss on a trade get greater than 8%-10%, always take you loss and walk away – don’t loose more than you need to and don’t be afraid to take the loss. Remember you never can get hurt taking a profit. Never average down, but you can average up.
3 – You must have sufficient trading/investment capital. Use your own money, there’s no need to go into debt so that you can trade and/or invest. Margin can be used but only with restraints, never let the account wall below 45% equity. Unless you fully understand margins you should not use it.
4 – A full and complete understanding of the rules & regulations of the industry. If your going to play in the game be sure you know the rules of the game and always follow them

To be a success in trading it takes continuous hard work and long hours educating yourself. There’s no shortcut to be successful. This is why most trader what-a-be’s fail, they think they are smarter than the market and with their little education know it all.

Powered by Yahoo! Answers

This entry was posted in Uncategorized. Bookmark the permalink.