If you are relying on money managers who gamble your hard earned money in mutual funds, then here’s a fact you must not ignore…
Cash managers for mutual funds lose your money a lot more than they will make you anything.
We are trained to trust them with their dollar cost averaging concepts subtracted from our paychecks weekly, so that within the long term we will be financially safe.
That could not be any further from the truth. I just don’t trust that system anymore. I think the world has changed for good, not to return to the way it was. I guess we just have to realize how it is today and adjust.
In my opinion, instead of deducting money from your paycheck to throw at some mutual fund investment program that will ultimately lose a lot of your hard earned money, why not put that same money in your own trading account where your chances of turning profits over the long haul are much greater?
Now, in essence, you are firing your money manager and hiring yourself.
Your goal as a trader is to make profits and protect your assets.
Money managers have lost their jobs because of under performing portfolios over extended periods of time. Stocks that they thought might go up didn’t, in fact they went down.
And what’s scary is that these types of fund managers are the “so called” professionals.
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Nothing happens to them if they’re wrong so they only treatment up to a certain point, then they say… “Oh well, lost on that one. ”
You are a lot better off taking your chances on following a trading technique that you are comfortable with on your own trading compared to leaving it to some money careless new hot-shot that takes unnecessary risks with your money.
If you stick to proven system that has been back tested, then your chances of having winning investments are much greater than if you let the “professionals” manage your money.
The tricky part is finding that proven system that you can feel comfortable trading with. More on that in a minute…
So , let’s consider it for a moment. If you follow a system that has a 75% accurate rate combined with a good money management system then you will out perform most of the mutual funds in today’s volatile conditions.
Pretty amazing, right?
Wouldn’t you agree just how fascinating it is that the average Joe can outperform most of the overpaid money supervisor professionals? You can take control of our own funds and manage our own money without having to be glued to a computer screen with the trading strategy you will discover at the end of this article.
Following, the challenges arise when you actually begin to trade. The emotions start to kick in and you start to second suppose yourself. That is where most traders fail and that is where I failed more than once. It is not easy to do. That is why you should test your trading strategies.
Did you know that it will take about 250 times of repeating a task to get good at it? Exactly what that means is you must test and exercise paper trading daily before you risk any real money at trading. Exercise does make you better equipped to deal with the ups and downs of this business.
So make yourself a promise to FIRE your cash manager, if you haven’t yet, and find a proven stock trading system you feel comfy enough to follow until you get proficient at trading on your own.