Kiana Danial explains at the Trading Mastery Summit the 8 steps to achieve your own financial plan. And thus achieve success in the stock markets and in the Forex market.
The last presentation of the third day focused on advising novice traders to make their own money work, to generate even more money. Well, this has always been the successful tactic of one of the most famous women in the world of trading: Kiana Danial.
The third day of the Trading Mastery Summit focused on delving into the technicalities of the trader environment and the stock and Forex markets.
Kiana Dianal: A successful and renowned trader
Kiana Dianal is the CEO of Invest Diva, a finance expert who writes for Nasdaq, Equities.com, and Investing.com.
She, in her three books on cryptocurrencies, the stock market and the Forex market, tries to guide beginners who decide to venture into the currency market, guiding their steps based on their years of experience.
He began his trading career in 2008, starting with currencies, and as he gained more experience, he ventured into trading in the other assets that the markets allowed him. Going through Forex, cryptocurrencies, contracts and currently trading stocks.
His vision has always been the same: “Get your money working for you with a financial plan. Well, the rich only have stagnant money, but wealthy people have their money working constantly and thus continue making more money. ”
How do you achieve success in the markets through a financial plan?
Kiana explained that starting in the stock markets, or in the Forex market, is not a matter of wanting it and now.
Well, it is common for beginners of trading to completely forget that there is a prior process, before launching fully into trading in the markets and Forex, and that is where it begins to be worth achieving a financial plan.
He explained that trading is a discipline that requires a series of steps to follow; something like delimiting a map to mark the safest and most effective route to reach your destination.
And, in this case, your destiny is to obtain the best results as a trader.
Kiana’s 8 rules for achieving your perfect financial plan
- Financial objectives must be set: You have to ask yourself where are you? And where do you want to go? Set goals, short, medium and long, this is the first step to planning.
- Calculate your risk tolerance: If you manage to calculate your risk tolerance before you dare to invest, you can have that feeling of security necessary to operate.
- Have an emergency fund: Before trading you have to be in the economic capacity to balance these possible losses.
- Create your own investment policy: This helps you ensure that realistic returns are expected, based on your own risk tolerances.
- Select the assets that best fit your investment policy: Well, you can’t invest in company stocks if you still don’t fully understand the market.
- The percentage you dedicate to each of these assets: it depends on your risk tolerance, your economic capabilities and your investment policies.
- Develop that investment strategy: at what price to buy, at what price to sell, how long do you stay with that operation.
- Monitor: This step does not mean sticking to a screen, but that you manage your time and the monitoring is healthy for you.
Once you do each step, you can trust that your strategy will do the job on its own and it will be easy to come up with a financial plan of your own that works.
The importance of risk management
What is your ability to take on these risks? It is the first question Kiana asks, because it is important to understand this if you want to reconcile success in the stock market and Forex and achieve a financial plan.
This is linked to your financial capacity and all the factors that surround your finances. No one else knows your financial situation like you, and your handling of this is important.
Because if you do not understand this, you do not have control of your economy, and the idea of trading is to have control of this and put yourself in command of your own economic efforts to succeed, and without the financial plan, you will not achieve the necessary bases.
Trading Mastery Summit: July 27 to July 30
In CriptoTendencia we will be covering the last day of the event, this Friday, July 30. Stay on top of articles and various topics.
The last day of the Summit is here, access the Trading Mastery Summit website and request your free ticket to enjoy the summary of the week made by live broadcast.