I’ve mentioned before how people make the concept of money harder to wrap around their minds.
Meaning, they make it more complicated than it should be. Managing your money (whether it’s investing or trading) is simpler than you think.
So, how do you simplify your money when you are young?
It starts with baby steps, and taking a bigger look at where your money should be at.
It requires less time, but you still need to make an effort at it no matter what.
Either way, you can make it simpler than what most people do- Which they make it more complicated.
That’s what I want to discuss in this post.
I’ve been good at managing my money over the years. I’ve been good at saving a lot of it, while putting that money into better usage.
I even got into investing in the stock market at one point.
The thing that I thought I’d do good in- Well, the investing part didn’t go so well after all.
I end up losing a lot of money, and I threw in the towel too early.
After that, I knew that I didn’t want to go into the day trading route.
The idea of having to look at stock charts, make trades throughout the day (for nearly 7 hours during the market open), and potentially losing money did not appeal to me at all.
I’ve heard of all the horror stories when it comes to trading.
Whether it’s forex, crypto, currency, or any other trading, they’re not things I wanted to waste time on.
Luckily, I didn’t because they all sounded too complex and difficult to succeed in.
And that’s very true. There’s nothing simple when it comes to these types of trading, along with traditional investing.
I gave up on these concepts because there’s too much complexity involved.
Not only that, but you can easily lose money if you don’t know what you’re doing.
Even if you were a good trader, the chances of you succeeding are slim. Or the better chances that you’ll lose more money than you intended.
That’s what happened to some people I know who went down the day trading route.
It was very stressful. Not only was it not a losing strategy, but it involved health issues (physically and mentally).
That’s what I don’t intend to get into, nor do I want for you.
If I’m ever going to do any types of investing or trading, I want to keep it as simple as possible.
You would think it’s not possible in trading, but there are ways to be successful in it.
There’s a better way to trade while keeping it low-key, less stressful, while not having to look at the charts all the time.
It’s the simplest way to trade while not sacrificing your precious time.
You still need to put in effort to do well in it, but it’s certainly possible if you have the right mindset.
That’s what I continue to do in trading options.
I’ve been trading options for nearly a year now, and it’s the best way to not only generate weekly income, but it’s how I build long-term wealth.
Not only do I focus on not losing money, but I keep trading every single week to keep my growing.
It may sound too good to be true, but it’s the simplest way to trade without all of the drama and stress.
There’s no need make it more complicated if you’re focused on making small wins every week.
Going for the big trades by making the most amount of money can be too risky.
That’s where you get into losing money, which is what I hate doing.
I discuss how I trade options in a simple manner in my new eBook, Nothing But 1%.
In this eBook, I discuss the current issues facing the United States, the economy, and what you can do about it.
Also, it’s a little introduction to options trading as it stands today.
It’s well worth reading, and it can make a difference in where you want to go in the future.
If you want to create a better financial future for yourself, this eBook can be a great starting point.
If you’re interested in reading it, check it out by signing up for my email list.
Look forward to seeing you on the other side.
Keep It Simple With Money was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.
