On... Running a Business
Trade like you're running a business, not like it's a hobby. Because business makes money and hobby costs money. Well, to be honest, a lot of business don't make money and they go bankrup, but that's not how we want our trading/investing to end. So what is the criteria of running a successful business? To me, three things come to mind. 1.Money, 2.Time and 3.Luck. 1.Money. Every business require money. Capital Expenditure to start the business and Operating Expenditure to keep the business running. So, if we want to run our trading as a business we should be prepared to fork out some capital to get it started and also to expect some monthly expenses to keep our trading business running. Example of Operating Expenditure can be our trading losses. If we're not prepared to take losses, then we can't run our trading as a business. Of course we would like the profit to more than the losses over a long period of time, but in the short term, losses are inevitable. 2.T...