Make Trading Fun: 4 Ways to Practice Your Stock Trading Skills 113

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Regardless of whether you’re a newbie, or have some experience with stock trading, there are some creative and fun ways to brush up on your skills.

Learning the basics of stock trading is a fantastic way to build the mentality of an investor and thus improve your financial decisions and spending habits.

Aside from being a cool side hobby and giving you the opportunity to make money, with trading you’re also engaging your mind and exercising your thinking skills.

But nothing lasts longer if we get bored soon. It shouldn’t feel like an obligation either.

So here are some practical and exciting ways to practice your stock trading skills and get better at it over time:

1. Join a community.

You don’t need to do it all alone.

Chances are, no one in your surroundings wants to be an investor and deal with the stock market, but so many other people out there are interested in it and want to discuss it with like-minded individuals.

Find them online for a start. If most of them are at the same level you can exchange ideas, share knowledge and experience, do research together, or experiment with different techniques.

2. Use an app.

stock trading app

Learning has never been easier with all the apps and tools available out there these days.

If you’re using so many already, and spend a lot of time daily on your phone, why not make it a habit to practice your stock trading skills this way too?

There are plenty of apps to help you effortlessly learn the basics of trading and how the stock market works, feel more comfortable doing this, and enjoy great design.

This is the perfect solution for those who are busy to take up a new hobby that involves so much knowledge and practice. Or for those who don’t want to go through tutorials and read books on the subject

3. Learn from the best.

There’s a great deal of wisdom in the lives and mindsets of those who’ve already achieved what you’re going after.

Even if you won’t be becoming a pro in this any time soon, it’s worth checking out the biographies and success stories of some of the greatest in the field.

Reading about people like Warren Buffet and his mentor Benjamin Graham, author of one of the best books on investing ‘The Intelligent Investor’, will change the way you look at money, stocks, financial market participants, handling risk, taking smart decisions, and more.

What’s more, you can apply all these principles to other important aspects of your life and get results.

4. Buy your first stock today.

In the end of the day, nothing beats action.

Invest just a little so that you can open an account and feel like you’re part of the game. Dong this will help you initiate a big project and take it more seriously.

Then, you can make a plan on what to do next and what rules you’ll stick to no matter what. Also, now’s the time to set some limits so that all your investments and actions from here on can be smart enough so that you don’t end up losing money.

Start small. It’s a learning process, after all.

But doing just this one little thing today will let you call yourself a stock market trader.

What about you and your trading skills? Do you have experience already, and what other fun ways to improve them do you know about?

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Going Minimalist in The Sharing Economy: Why It Makes Sense to Rent Our Belongings 14

Going Minimalist in The Sharing Economy: Why It Makes Sense to Rent Our Belongings

Last week, Jeremy Rifkin’s documentary “The Third Industrial Revolution: A New Sharing Economy” brought to public attention the importance that efficient sharing economies will have in coming years. The slowing of industrial productivity, coupled with the looming climate change crisis means that the game is up for the “take, make and dispose” model that we currently operate on.

This might seem a little inaccessible from the point of view of an individual. Most of us don’t have time to make lunch in the morning let alone contemplate changing economic models.

Yet the sharing economy is growing all around us, from Gumtree to Airbnb and most recently, stuff-sharing marketplaces like Fat Lama.

Born out of East-London in 2016, Fat Lama is a peer-to-peer rental platform where users can borrow items they need and rent out items that they don’t. It’s completely free to list items and operates out of your local area.

Put simply it’s a way for people to make money off their belongings and for others to gain access to equipment they might not otherwise be able to afford. However, the platform has the potential to become a lifestyle as much as a utility. Here are just a few of the benefits:

Saving The Environment

By 2022, the planet will have produced a staggering 50 million tonnes of e-waste.

This is by no means as harmless as it sounds. We are racing through computers, phones, cameras and cables at an alarming rate and worst of all, we recycle none of it.

By investing in the sharing economy and renting rather than buying, you can make a stance against the destructive and wasteful effects of linear consumerism.

To illustrate the paradigm, let’s take the example of a power drill, which, shockingly, is used for a grand total of 13 minutes on average in its life. It is a waste of money and is using up precious resources to buy such an item. Whereas if you rent from Fat Lama, the price of which is around $5 per day, you will end up saving yourself needless expenditure at no extra cost for the planet. This is not just true of drills, but Lawn Mowers, leaf blowers, cameras and projectors.

Go Local

One of the big downsides to living in an urban environment is the lack of community spirit. Cities can feel stiflingly disconnected and it is not uncommon for a resident to have never spoken to a single person on their street.

There has been efforts made to re-localize districts, with cafés bars and social hubs popping up in suburbs all over the world. However, if you are looking for something more personal, using Fat Lama puts you into contact with hundreds of locals living around you who often, given the circumstances, have the same interests as you do.

For instance, if you are looking to rent a surfboard or Kayak, chances are the owner will be an enthusiast as well. This could lead to at the very least a friendly interaction if not a friendship.

Save Money and The Planet

The other great strength of renting rather than buying that it will save you a packet.

The sharing economy is founded on the principle that limiting ownership reduces marginal costs because the cost of production storage etc. is mitigated from the equation.

To return to the power drill analogy, a low-end model will cost you around $100, which means that every minute of use is around just under $8. Unless your drill doubles up as a cocktail-maker, this seems like an enormous waste of money. In comparison, the average electric drill on Fat Lama will cost you less than $8; really it’s a no-brainer.

Make Some Moral Money

Aside from the obvious social benefits, you can turn your underused belongings into hard cash, with virtually no effort.

We have all made some questionable purchases. Whether it’s that DSLR you promised your parents you were going to use or that sound system that never get used because of you neighbours. Now they don’t have to be an ugly reminder of the lost money but active assets that can start paying for themselves. Often the money made from these items can far exceed their original price, with some users earning up to $5000 dollars a month, more than the minimum wage in any country.

These are just a few examples of the way in which renting can impact your life for the better.

Right now it’s the fastest growing sector but the possibilities are infinite. What I hope you take away from this is that being an ethical consumer doesn’t have to be a bleak future of Spartan self-control but rather a re-imagining of the way goods flow today. Clean consumerism is not a dream, it’s right in front of us.