Mikael Cho founder of Crew: “I’m the CEO of two startups. One was a happy accident that became one of the fastest growing photography websites. The other has yearly revenues in the millions and has grown an average of 300 percent year-over-year. To work on these fast-growing companies while enjoying other parts of my life, I’ve had no choice but to figure out how to be as productive as possible.” The three simple habits you can do to be productive is remove the noise, focus, and maintain good health. For removing the noise, turn off your phone and computer notifications. Multi-tasking is actual a hindrance because in essence you have to shut down and restart every time you switch between tasks. Write everything down, because not only will you maintain important details for later; you will also keep your mind clear. If you repeatedly do tasks then use an app called Trello to document everything. For focus, set aside blocks of time to do similar tasks, do focused work for a particular amount of time with no distractions, and make sure you remove any chance for distractions by enforcing those times of focused work. Make sure that start your morning with easy tasks to help you build momentum, and make sure you accomplish as much as you can in the morning. For maintain good health, it’s important to make sure you move to maintain your blood circulation, and refresh your brain. Make sure you make time to spend time with someone who makes you feel happy because the person will make you feel good. Also make sure you eat healthy and use music to boost energy. So to increase productivity, Remove the unnecessary. Automate decisions. Maintain good health.
Every good investor knows that in order to make money on any investment, you must first understand all aspects of it, so let’s look at why most trading volume is concentrated at the beginning and end of the day. Trading occurs normally at the beginning of the day is due to a rush of programmed trades entering the market. A common rule among day traders is to always end their day without any stock positions, so they must sell their positions at the end of the day. Additionally, retail investors, trying to avoid day trading rules may purchase stock at the end of the day so they are free to sell it the next day if they wish. The four processes you can do to profit is: volume research, use limit orders, trade today for tomorrow, and gap trading. When you’re examining a stock look at the amount of volatility in the first and last hours of trading. You may be able to buy or sell at a price which is higher or lower than its fundamental value. A limit order will allow to set a maximum buy or sell price instead of buying or selling at the price the market will pay. A way to trade today for tomorrow is buying at the end of the day and selling the next day. With Gap Trading, you purchased stock YZX for $30 today but you expect the stock to rise to $35 after they announce quarterly earnings after the close of the market today. This means that when the market opens tomorrow, YZX will open at $35 if you’re correct. This creates a $5 gap in the chart which represents a $5 per share profit for you. (If you would like to know more about gap trading, read Playing The Gap.)
If you have a prayer request, or if you’re in need of a financial checkup you can reach me in the contact me section.
For this week, I’ve included How the Economic Machine Works by Ray Dalio from Bridgewater YouTube channel.
“But those who want the best for me, Let them have the last word—a glad shout!— and say, over and over and over, ” GOD is great—everything works together for good for his servant.” I’ll tell the world how great and good you are, I’ll shout Hallelujah all day, every day.”
Psalm 35:27-28 MSG