Monthly Archives: August 2009

Saro’s Day Trading Introduction

Investing

One of my latest interests today is day trading. A couple months ago, a good friend of mine who is a professional stock broker and trader recommended I look into day trading as a part-time “job”. I’m quoting the word job because the way I see it, it’s not your usual 9 to 5 setting. Day trading is something you can do on your free time, or alongside your usual everyday job (or career). You will, of course, require access to a computer with an internet connection.

One of the things that I tout on this site is passive income, so most of you are now saying “well, this isn’t exactly passive…” This is true, as you will have to be somewhat active when you execute your trades. Unlike buying stocks and “going long”, buying & selling stocks can take anywhere from minutes to hours within the same day. This method is called intra-day trading and is what I am currently doing.

If you have some extra money lying around in the bank and you rather have complete control over it, day trading is the way to go in my opinion. Rather than dump your money in a mutual fund that may or may not grow, trading will definitely give you some nice income.

On the topic of risk: yes, there is some risk involved, but it’s actually quite minimal if you know what you are doing. Day trading isn’t rocket science, but it does require some analysis on charts. The practice to analyze chart data is called “technical analysis” and it is something that everyone can do and master with a bit of practice. To further minimize risk, you can put “stops” on your trades: when a stock falls below your minimum, your trading system can automatically sell your equities and leave you with little losses.

In the upcoming weeks, I will be detailing my techniques and methods I have learned over the past few months that are working quite well for me. I will also go further into detail on how to start and what to do when it comes to day trading, along with the questions that most people ask when they first start. When I first started, I was completely lost, but my friend helped me get started on the right foot.

That Money Site – It’s Okay to be Rich!

Investing, ,

You’re probably wondering: “Oh no, not another make money blog!”

Before you close your browser window and run for the hills, I want to explain to you what this site’s mission and purpose is, and how I can help you become better informed in financial matters.

Okay, so what sets my site apart from the rest of them out there on the web? For starters, I’m like you: stuck in the rat race, wanting a way out of the corporate world. I want to be financially independent, and my opinion, the answer is passive income. Passive income is any kind of income that is generated on its own, such as owning real estate (i.e. apartment buildings) or stocks (dividends). You can sit back, relax, and know that next month, you will be receiving X amount of money thanks to assets that pay. Most people believe that owning their house or condo is an asset… I’m here to tell you otherwise. While I’m not at the stage of true financial independence yet, I can tell you that I have a good idea on how to get there efficiently.

My purpose is to inform the average Joe out there on topics relating to money: accumulation of wealth, strategies, understanding the basics of finance, tax sheltering your income, etc.

My mission is to further my knowledge in financial matters and to share them with the community. Hopefully as the days go on, I’ll be getting financially smarter and overtime, wealthier. The advice I plan to put on this site is the ones I use or plan on using.

I can summarize this site in two words: Money Education.