You can never rely on your income on day trading. Being a day trader is very risky, but those who achieve their success could be very fortunate. While many enjoy being part-time day traders, you should also consider this opportunity: building your own business!
1. Minimal Start-Up Cost
If a trader returns 4% per month out of the gate (which is very rare). They need a $50,000 account to make $2,000 per month. In comparison, if you launch an information product teaching a unique skill set you’ve developed. Then, for $99 as your cost to open the platforms and get just ten sales per month at $200, it equals $2,000 per month.
This is very doable, as we are shifting to remote and most likely would be stay conducting hybrid work, people are more open for online offerings. So you could start to look your opportunity out there!
Please do your research, learn how others promote their offerings. But, remember do not too long to find your opportunity, instead create your opportunity with your talented skills!
2. No Drawdown
A high-margin online business selling in-demand products and services doesn’t experience “account drawdown.” But, slow months, sure. That’s why it’s recommended to build a subscription business model, which could help you capitalize on the growing value of your customer relationships, in a simple word, to stabilize revenue.
Whereas in the capital markets with unstable volatility fluctuations, traders can experience such volatile income patterns that even the successful ones can’t live off their profits without turning grey at 24. Instead of relying only on the market sentiment, you need to take action and rely more on yourself.
So look closely; most live off business income (and rightfully so).
3. Effort-Based Growth
If you want to grow your income in an online business, you can work smarter and harder, test new marketing angles, use different sales strategies, and tweak your offers. You gain immediate feedback, which provides confidence and certainty.
Traders must let their edge play out over long periods. Some grow old before they realize they don’t have one.
4. Guaranteed to Work Tomorrow
Guess how you can always generate a reliable income? Selling in-demand products and services to people.
The market, on the other hand, is constantly changing. The best strategies of yesterday may not perform today, and as for tomorrow? Well, wait for your edge to play out, and then you’ll know in hindsight.
5. Success Rates & Business Assets
Anything worthwhile has a low success rate, so any (actual) risk manager must consider the impact of failure.
If you fail in online business, you’re left with: an impressive set of re-usable real-world skills like marketing, sales, design, copywriting, negotiation, social media, accounting, driving traffic, speaking and branding.
If you fail in trading, you’re left with: a knot in your stomach and an excellent knack for spotting bullish MACD divergence.