Friday, 10 October 2014

Why Trade for Income?

   What is your most valuable asset? You may say your home, your investments or your savings. I don’t think so. None of these things are possible without income. Ability to earn income is our most valuable asset and it is always important to acquire skills required to earn a life long income.
           
      Few factors can impact our ability to earn money. These are death, permanent disability, unemployment and retirement. Death is inevitable and we have no control over permanent disability. Having adequate insurance coverage can protect the financial welfare of the family to some extend in such situations.



           Under the new economic environment there is no guarantee for our day job. Nobody knows how long we can continue in the present job and when we may need to take early retirement or when we are going to get fired. Always there is an element of uncertainty.In such eventuality we may need to dip into our retirement funds or savings funds for meeting our day today expenses which is very painful.

Some professionals and experts can offer consultancy and earn life long, but most of the people are leaving their day job with useless skills. Few lucky persons can draw inflation indexed pension and few others may be having other sources of income. But still the reduction in income could be a cause of anxiety. If we want to live a life we envision, we have to get rid of this anxiety by developing alternate sources of life long income.

                  Some professionals and experts can offer consultancy and earn life long, but most of the people are leaving their day job with useless skills. Few lucky persons can draw inflation indexed pension and few others may be having other sources of income. But still the reduction in income could be a cause of anxiety. If we want to live a life we envision, we have to get rid of this anxiety by developing alternate sources of life long income.

                 Wealth is never a substitute for income. People are emotionally attached to their property and will never sell it for meeting day today expenses. Look around you and you will see wealthy people living a miserable life in the absence of regular income. Having interest earning financial deposit is not a solution at all. We will always be worried about the sky rocketing prices and spiraling inflation. The original investment loses its purchasing power over time and the interest income may not be sufficient after a while for comfortable living.

               Trading, if learned properly can be an excellent way to make some additional income. Trading for a living is not an impossible task at all. It is just a skill like cycling or driving. You will get better and better in it by experience. Trading is an excellent profession for house wives and the retired as they can do it leisurely at the comfort of their home. With assured future earning potential, we will feel much more secure and security is a warm feeling for sure.

About

Parag Patil is a technical analyst and trading system designer with stock excel programmer. I hope the articles and live chart of nse future and mcx on this Website will be as helpful and profitable to you . I try to update and post new articles tips everyday. My motto is to encourage the traders, so that they should able to understand the technique views behind the moment of stocks. I have deeply analyzed with many technical indicator with parameter and added to my amibroker afl. And even taken backtest report which is never being implemented. Any of the analyst expect me. Seeing all this you may understand that my views is more technical than commercial. If you are profited by my views I fill happy.

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