3 Steps Landlords Can Take to Protect Themselves from Lawsuits

Landlords need to protect themselves against lawsuits to a high degree, perhaps more than any other business owner. Unlike other industries, courts tend to favor tenants, especially in difficult situations. Now that the world is experiencing the COVID-19 pandemic, courts are especially sympathetic toward tenants facing eviction, even when it’s clearly the tenant’s fault.

Tenants don’t just sue their landlords over evictions. The truth is, you never know what will drive a tenant to file a suit. Sometimes tenants file lawsuits that don’t make sense, but you still have to take time out of your day to show up in court.

Lawsuits are costly and time-consuming, so you need to protect yourself if you want to avoid the inconvenience of litigation. Here’s a good starting point:

1. Require Your Renters To Carry Renters Insurance

 To get your mortgage, you probably had to show proof of homeowners insurance, if not additional types of insurance. Renters have their own type of insurance designed to cover losses and damage to their personal property. It’s called renters insurance and if you want to protect yourself from lawsuits, you need to require tenants to hold a policy.

Renters insurance protects tenants’ personal property when it’s damaged by things like natural disasters, burglaries, and random accidents. For example, if the sewer backs up into the house and the flood destroys a tenant’s musical instruments, they can file a claim to recover the cash value of their instruments.

Renters insurance will cover relocation expenses

Relocation is another expense renters insurance covers. If your property becomes unlivable, a tenant with renters insurance can get a hotel covered until you fix the problem. If the problem can’t be fixed, renters insurance will pay for the tenant’s moving expenses. Some policies will even pay the additional cost of increased living expenses if their new rent is higher.

In some states, landlords are required to pay for a tenant’s accommodations if their main rental becomes uninhabitable. Tenants can sue if their landlord refuses to provide alternative housing.

If you don’t want to risk having to pay for your tenants’ hotel stay while you fix a serious plumbing issue, require your tenants to carry renters insurance.

2. Create a Strong Lease With an Attorney

Your lease is only as strong as your weakest clause. If you forget to include a legally required clause, your lease could end up being no better than swiss cheese in court.

The only way to create an iron-clad lease is to consult with an attorney. While you can find lease templates online allegedly created by lawyers, templates are too generic to rely on for the basis of a tenancy agreement.

For example, unlawfully withholding a security deposit is one of the top reasons tenants sue their landlords. You might think you’re fine if you aren’t withholding your tenant’s deposit. However, a lease containing illegal security deposit terms can also justify a lawsuit.

Lease mistakes often have far-reaching consequences. Creating your own lease makes you susceptible to losing lawsuits that you would otherwise win if your lease were designed by an attorney.

3. Be Clear and Direct to a Fault

Some people feel threatened by direct communication, but you can’t be vague or ambiguous with your tenants. For example, if your tenant misunderstands something you’ve said, they might act on that misunderstanding in a way that violates the lease. If you try to evict them, they might sue you – and win.

Once you get to court, it will be your word against theirs. Did you really give your tenant permission to install a zipline in the ceiling? If the judge thinks you did, you won’t easily change their mind. Verbal agreements are considered legally binding agreements.

Make every effort to be clear and concise with your tenants in all of your communications. Try to avoid text messaging and only use email for electronic correspondence. Make sure every phone call is accompanied by a follow-up email to provide a permanent record of the points discussed. Leave no room for unnecessary confusion.

Being a Landlord Is Risky

Being a landlord is a risky business. Although, owning rental property is appealing because it’s one of the best ways to amass wealth over a long period of time.

Tenants have rights, as they should, but often those rights are abused and taken advantage of in the legal system. No matter how great your tenants are, most are just one upset away from filing a lawsuit. While you can’t prevent all lawsuits, you can mitigate the potential for lawsuits arising from common misunderstandings.

If I Mine Bitcoin in My Office Will My Boss Know?

In the past few years, the cryptocurrency world has seen dramatic growth. Out of all the cryptocurrencies available today, Bitcoin stands as the most valuable decentralized cryptocurrency. Other than just trading Bitcoin, many find Bitcoin mining a more profitable option. But it has a major barrier that it cannot be mined using personal computers.

Many Bitcoin mining enthusiasts consider mining Bitcoin using office computers.  The power is free, the network dependable, and for 16 hours a day – no one is using the machines.

The point of concern is – are mining activities noticeable to others?

Some can get lucky, but there are high chances that your boss will eventually detect your Bitcoin mining activities. In this blog, we will have a closer look at this matter and see the possible reasons that can get you caught.

Bitcoin Mining at Office

A Bitcoin miner can only qualify for the reward if the miner verifies the transactions before other competitors and enter the blocks into the blockchain. Mining requires an uninterrupted strong network connection and GPU (graphics processing unit) or ASIC (application-specific integrated circuit). Many office computers have at least some of these components. So Mining Bitcoin would be a great way to earn free money.  So is it possible to mine Bitcoin utilizing office resources?

Although doing Bitcoin mining is not illegal, doing it using office computers is unethical. Firstly, you will stress hardware to their limits, which can decrease their lifespan and cause frequent damages. Secondly, you are going to consume a lot of electricity against fractional profit. Lastly, multiple signs can make your boss suspicious about your activities and eventually let you get caught.

Suspicious Signs associated with Mining Bitcoin in Office

There are multiple signs while mining Bitcoin using office resources that can trigger the attention of your boss. Following are some of the prominent signs in this perspective:

1. High Electricity Costs

One thing we know about Bitcoin mining is that it is very power-hungry. On average, crypto mining consumes 3-4 times more power than when a PC is in the rest state. When your PC is continuously working, it is demanding more power and generating more heat. The increase in heat means office air conditioners are in more work, while your PC requires more energy. Therefore, the overall electricity cost of an office can increase noticeably, which can alter your boss that something is wrong.

2. Noisy Fans

The PC mechanical fan is the most common part that gets damaged from crypto mining. Since it’s a mechanical part, so it has a definite lifespan. However, when you use an office PC for mining, your fan will generate continuous noise and get more vulnerable to damage soon. So, either the nonstop noise or frequent replacement requests can make your boss suspicious about your activities.

3. Slower Computers

Mining Bitcoin from an office PC means you are making it work continuously without any breaks. As a result, your CPU usage will be massive, which will impact its overall performance. If, by any chance, your boss or other managerial staff sits with you and starts using your PC, then the slower performance or excessive CPU usage statistics can make them suspicious. In addition, the amount of heat your PC generates and its frequent alarms about high temperatures are other factors that can trigger doubts.

4. Antivirus Detection

Mining Bitcoin means you will install crypto mining software in your office PC and use office network resources for mining. Unfortunately, most corporate antivirus tools can discover software in your PC or identify mining-related activities and present them as threats.

Cybercriminals are also taking advantage of such mining software for ransomware and other similar attacks. So, possibly your organization has set up an antivirus scanning framework that detects crypto mining software and its related activities to protect its networks and systems. Therefore, even if your slower computer performance and the noisy fan didn’t make things suspicious, antivirus scanning can expose you out.

Bitcoin Mining from Office – Yes or No

From all the above signs, we can say that if you love your job, then don’t even think of mining Bitcoin in the office. You will be making a tiny profit compared to the resources you will consume. Even if you remain undetected for some time, eventually, your activities will trigger your boss’s attention.

The Safe Approach – Lower Power Mining

Since Bitcoin mining at the office is very risky due to its hefty power consumption, you can mine other cryptocurrencies that demand fewer power resources. As per the research conducted by TRG Datacenters, many valuable cryptocurrencies consume significantly less power, such as Dogecoin consumes 0.12 kWh, Litecoin consumes 18.522 kWh, and Ethereum consumes 62.56 kWh per transaction compared to 707 kWh of Bitcoin.

Ethereum, the second-largest cryptocurrency after Bitcoin, is becoming 99.95% energy efficient by adopting the proof-of-stake protocol. They are targeting this transition in the upcoming months, which will be game-changing. So, if you are an enthusiast of mining while in office, opt for lower power-consuming cryptocurrencies. This way, you can mine those cryptocurrencies first and then convert them into Bitcoin. So, it’s an indirect and much safer way to mine Bitcoin.

Wrapping Up

It is phrased that “if you want to mine Bitcoin, don’t do that at company time”. But the better version in present times is “if you want to mine Bitcoin, don’t do that at company time using company resources”. Although mining Bitcoin using office resources seems a free way to make a handsome profit, the consequences are still worse. You can end up with costly plenty or even get fired. So, in a nutshell, if you want to do crypto mining in office, then consider lower power-consuming currencies or opt for trading instead of mining.

What is the best Forex EA robot in 2021?

Every trader understands the importance of time and energy optimization. That’s why more and more Forex users switch to semi-automated or fully automated trading with the help of special EA robots. Such a robot is a computer software based on a set of signals for trading currencies, which helps to determine whether to buy or sell a particular currency pair at a certain time. It can also place orders on the market according to the provided program code.

But the main difficulty is to choose a reliable and truly useful Forex EA robot. In this article, we will talk about a few of the best EAs currently available on the market.

Best Forex EA Robots in 2021

1. FXStabilizer PRO

Since its launch in 2015, this robot has gained the trust of numerous traders and is considered one of the best modern Forex EAs on the market. It is available in two versions Pro and Ultimate. The improved Pro version costs $739 and allows you to work with 8 currency pairs including the major EURUSD and AUDUSD.

FXStabilizer PRO is suitable for automated trading by skilled traders and for beginners without any Forex experience. It is only necessary to choose one of the two modes: Durable — which brings a steady profit, or Turbo — which increases the risks, but raises profits.  

2. FOREXTRUCK

This advisor is half the price of the previous robot, it costs only $329. Of course, you can find free download forex robot full version links and get another great expert advisor for free. However, by supporting the developer of FOREXTRUCK with such a small amount of money you will also get a quality product and round-the-clock support from experienced professionals.

The developer offers a full refund in case of bugs or dissatisfaction within a 30 days period. But such cases are very rare, most of the reviews are positive and show that FOREXTRUCK algorithms help to automate the trading process and earn money without any risks. High rates of profit and low losses make it easy to recommend this trading robot.      

3. FXTRACKPRO

If your goal is to earn more money in a short period of time without risking a lot, FXTRACKPRO is the right advisor for you. It is available in PRO and Super versions which differ in the number of possible currency pairs. The basic version costs $325 and the Super version costs only $445.

A huge advantage of this robot is that it is compatible with all brokers. What is more, if you buy one EA license you get two program versions that work perfectly on both MetaTrader 4 and MetaTrader 5 platforms. During the testing by developers, FXTRACKPRO showed a high result of 630.71% profit growth, which was confirmed by the positive feedback from traders. 

4. MARKET FIGHTER

This robot is a great choice for those who are not ready to pay for the Forex EA but want to successfully automate trading processes. MARKET FIGHTER uses the latest algorithms and was developed by a professional team that decided to share their product with a wide audience. Without any investment, you get an excellent Expert Advisor, stable profits, and minimal risk of losing money.  

MARKET FIGHTER works on MetaTrader 4 and MetaTrader 5 platforms. It is really easy to set it up, but in case of any problems, you can immediately contact the support team that works 24/7. In the end, this advisor truly deserves recognition. Without a doubt, it can be called the best Forex robot which can be found in free access today.         

Conclusion

Nowadays, Forex EA robots are actively used by traders around the world. They help to automate the working process and reduce all sorts of risks. A specially programmed algorithm operates around the clock without the intervention of the trader. Thus, it increases the possibility of making a profit by several times.

In our article, we showed some really great robots that can help traders to earn more and take less risk. Each of them has some advantages and disadvantages. But in most cases, even the free expert advisor can enormously simplify a trader’s life.

The 12 Pros and Cons of Commercial Real Estate Investing

Commercial real estate requires a different strategy than residential real estate, but it’s a valuable way to make money if you know what you’re doing. Before getting started it’s important to understand the potential upsides, the risks of commercial real estate investing, and everything in between.

How Commercial Real Estate Differs From Residential Real Estate

Real estate is real estate, right? Not exactly. Commercial real estate refers to specific types of properties – those used for commercial purposes. Instead of having tenants who live on the property, you’ll typically have business owners using the space to run their business, whether it’s collecting white-collar workers together in an office building or producing goods in an industrial application.

Several types of properties fall under the “commercial real estate” umbrella, including warehouses, office buildings, and more.

The Pros of Commercial Real Estate Investing

What are the advantages of commercial real estate investing?

1. Total income potential

First, the total income generating potential of commercial properties tends to be higher than their residential counterparts. There are several reasons for this. For starters, commercial spaces tend to be inherently more valuable than residential spaces, since people use them for business purposes. On top of that, many commercial properties are large or capable of hosting multiple tenants simultaneously, multiplying your income potential.

2. Professional tenants

You’ll also enjoy the benefits of having more professional tenants. Since most of your tenants will be business owners and executives, you won’t have to worry about them failing to pay rent or damaging your property – at least, not as much as you would a residential tenant.

3. The public eye

Many commercial properties are in the public eye, incentivizing tenants to take good care of the property no matter what. They want to keep their storefronts clean and undamaged, which helps to keep your property in better condition.

4. Emergency interruption potential

Most businesses have limited hours of operation, such as working 9 to 5. This means you’ll receive fewer emergency notifications in off-hours; in other words, with commercial real estate, you’ll get fewer late-night calls if something goes wrong.

5. Logical, steady pricing

Business owners tend to make more rational financial decisions, focusing on economic logic and profitability rather than conforming to the whims of the market. This helps to keep the prices of commercial real estate a bit more stable and predictable, especially when compared to residential real estate.

6. Triple net leases and decreased expenses

In commercial real estate, many of your arrangements will be with a triple net lease, meaning the tenant will be responsible for all the expenses associated with the property, including real estate taxes and maintenance. This can greatly reduce your cost basis and help you make more money (with fewer responsibilities).

7. Flexible terms

Terms of commercial leases tend to be much more flexible than those in residential leases. Accordingly, you can create lease agreements that are much more closely aligned with your personal goals and negotiate with tenants to find something mutually beneficial.

8. Flexible buying options

In the realm of commercial real estate, there are many different types of properties you can buy. For example, you could invest in factories, warehouses, office buildings, storefronts, or even mixed-use buildings that serve a residential purpose. This makes it much easier to diversify your holdings, thereby improving the consistency of your earnings.

The Cons of Commercial Real Estate Investing

There are also some risks and downsides associated with commercial real estate, including:

9. Time requirements

Commercial real estate requires more due diligence than residential. You’ll need to become familiar with local laws and regulations and inspect properties thoroughly before buying. It often means spending much more time on commercial real estate.

10. Monetary requirements

Commercial properties tend to be much more expensive than residential properties, representing a bigger barrier to entry. Even if you take out a loan, you’ll still need to provide a down payment – which can be a problem if you don’t have a lot of capital on hand.

11. Risks

There are also bigger risks associated with commercial real estate. More money’s at stake, you’ll be working with bigger, more important tenants, and there’s always the possibility that a commercial area faces plummeting demand.

12. The need for professional advice

Most commercial real estate investors feel the need to consult with others for advice and direction. Commercial property management companies are incredibly valuable, but they do represent an additional expense.

Summary

If you’re new to the world of real estate investing, commercial real estate can seem intimidating. It’s not always favorable to newbies, due to the high capital requirements and risks involved. However, with the right team of advisors and managers on your side, almost anyone can enter the game and reap the rewards.

8 Tips for Onboarding New Tenants

As a real estate investor, it’s important to get new tenants into your property as soon as possible, so you can start making money. But it’s also important to adequately prepare your tenants for their rental.

The onboarding process is a vital step in improving tenant retention and ensuring the handover of keys goes smoothly – and there are several strategies you can use to make it even smoother.

Why Onboarding Is So Important

Onboarding is important for several reasons:

• First impressions

It’s hard to overstate the importance of first impressions. A first impression often dictates how a person feels about another individual or a situation for months, or even years to come. If you start things on the right foot, your tenant will see you – and your property – in a much more favorable light.

• Relationship building

This is also your first opportunity to build the landlord-tenant relationship. You can talk about the property, get to know each other, and set the tone for all your interactions to come.

• Setting expectations

During your initial interactions, you’ll get a chance to set expectations with your tenants. What are the rules and standards for living here? You can look your tenants in the eyes and make sure they fully understand.

Collectively, these effects have a strong influence on your tenant’s disposition, their friendliness, their potential to accommodate your requests, and even their retention.

In other words, a good onboarding process will keep your tenants around longer and minimize stress and headaches for you down the road.

Tips for Onboarding New Tenants

So what can you do to make onboarding new tenants go smoother?

1. Prioritize healthy communication

Good communication is vital when onboarding new tenants. It’s important to articulate your thoughts as clearly and directly as possible and to allow your tenants the chance to speak their mind as well. Remain as polite as you can, be transparent when answering questions, and provide extra details upon request. Any bad communication experience during the onboarding phase is going to set a bad tone for the future of the relationship.

2. Create and keep a checklist

Before going through the onboarding steps, take the time to create a full checklist. Write down everything you want to cover during onboarding and in the days that follow; this will make sure you don’t forget anything. Then, keep this checklist on hand for all your future onboarding sessions to ensure consistency.

3. Explain all your rules and expectations

Take your time explaining all the rules and expectations you have for living at this property, even if they’re spelled out in the lease agreement. Having a conversation will ensure they truly understand.

4. Get all paperwork signed (and make copies)

Obviously, you’ll need to spend some time going over the paperwork and signing it. Make sure you make multiple copies of all these important documents and give your tenants copies they can keep.

5. Get questions, comments, and concerns from your tenant

Onboarding shouldn’t be a one-directional exchange. Instead, it should be a two-way dialogue. Make sure your tenant feels comfortable opening up and ask them if they have any questions, comments, or concerns. If they do, try to address them as best you can.

6. Exchange contact information

Next, exchange contact information. You probably already have your tenant’s primary contact information on file, but this is your chance to get multiple backup forms of communication. In-kind, you should also provide your tenant with multiple ways to contact you – which may be especially important in an emergency situation.

7. Store information properly

Create a file for this tenant and store all your paperwork there. It’s important to stay organized as a landlord for multiple reasons – and onboarding is your chance to get things started on the right foot.

8. Follow up

Finally, make it a point to follow up with your tenant after a few days. Ask if they’re settling in okay and if they’ve had any issues with the property. Verify their understanding of the rules and expectations and ask if they have any follow-up questions. It shows you care about their wellbeing and gives you an opportunity for follow-up discussion if necessary.

Do note that every tenant will be different, so you may need to vary your approach slightly. For example, some tenants are mostly solitary and desire privacy, so you’ll want to respect their preferences. But others are more chatty and outgoing – and they might like to have more conversation before you part ways.

In any case, if you do your best to set expectations, communicate well, and make your tenants feel comfortable, you’re going to be rewarded. Just make sure you continue treating your tenants well consistently throughout their stay at your property.

How to Find Great Real Estate Investment Deals in Houston

If you’re in the market for investment properties, Houston has some of the most profitable opportunities to be found in the U.S. right now. The housing market in Houston has been hot for a good while, with a 21% year-over-year growth occurring in 2020.

Thus far in 2021, the market has remained plenty hot, but the supply has understandably been dwindling. The reduction in supply has been driven by low interest rates and the high demand for new homes, as well as a recent increase in lumber prices and a labor shortage.

However, lumber prices have most recently begun to drop again, and experts predict they will soon return to normal. So we’re still living in a great time to buy real estate in Houston; if you’re in the market, here’s how to find some great deals.

1. Make offers for properties off the market

You’d be surprised to learn how many people sell their home when it’s off the market. If you find a property you like, it can’t hurt to make an offer.

The worst that can happen is that your offer gets rejected. There’s always a chance your offer might be accepted, however.

When you know what you’re looking for in a hot market with low inventory, sometimes making offers on homes that are off the market is one of the best ways to find your next investment. If you work with a real estate agent, he or she might be able to point you toward homeowners who recently took their home off the market for any number of reasons.

Such people may not require much persuasion to sell, if you make the right offer. If you find an unbeatable deal for an off-market property, but you need to gather funds to close, consider selling an existing property to fund your purchase.

However, under such circumstances, it’s a smart move to avoid putting your property up for sale by yourself just to save money. Instead, partner with a property management company like Green Residential to sell your Houston home for a flat-rate commission fee.

2. Look for luxury homes

When you can get approved for a loan to buy a luxury home, it can be worth the extra expense. Luxury homes in Houston have seen the largest increase in single-family home sales, having risen to 291% as of May 2021.

Home values are nearly always on the rise, but right now they’re climbing more rapidly than usual. You’ll do well by acquiring at least one luxury home before prices escalate even more.

Your investment will grow more valuable over time. If you can swing the mortgage payments, it’s worth considering.

3. Look for “FSBO” signs

Some of the best deals will come from people who want to sell their home without using a real estate agent. It’s harder for the seller, but if they’re desperate to unload the property, they will accept the first reasonable offer that comes their way.

Without a real estate agent to advise the homeowner what he should list the home for, you might get lucky and pay a discounted price on Houston’s hot market. Of course, it could go the other way: A homeowner might be trying to sell his home for more than it’s worth, and without an agent’s coaching, the seller might reject all reasonable offers.

4. Go to showings to meet agents

With the housing market booming in the greater Houston area, you can find showings just about anywhere across the metro area. According to Channel 2 news, one Realtor reported showing 81 homes in 36 hours and receiving 27 offers up to $30,000 above asking price.

That’s a hot market. But you shouldn’t go to showings to make overinflated offers. Go to showings to connect with agents who are tasked with selling an enormous number of houses.

If you’re lucky, you’ll meet an agent with a client just about to put the home on the market – and if your timing is right, you might get first dibs.

5. Drive around to find vacant properties

Find vacant properties by driving around, gathering addresses, and researching them online to see if any are for sale. When you find land for sale, buy it and build a new home.

Although there are exceptions, most families won’t be interested in buying vacant land to build a new home at this time. Under the current situation with the pandemic, most people can’t wait around for a new home to complete construction.

This means there is likely to be more vacant land available for purchase in spite of the low housing inventory.

Buy what you can before home values are too high

Whether the market remains hot or not, home prices will only continue to rise. Buy your next investment before they go sky-high. If the economy slows down, you’ll have income-generating assets that will serve you well through another recession.

What is the Psychological Effect of a Crypto Price Drop?

The crypto world lacks objective information and this results in uncertainty. There are no annual reports available as is the case on the stock exchange. In the crypto world, the Bitcoin price for example is determined by supply and demand, potential, the development team, speculations, social media and news reports. Moreover, many projects are still in the start-up phase where ideas are fully developed.

Bad or good news can therefore do a lot to the value of a price, let alone the opinion of a very influential person involved in a tweet. This can make the price rise tens of percent but just as easily as dropping a brick. Early adopters, among others, are less impressed by this. But the unwitting investor develops fear which can result in a wave of sell orders. Below one can read more about the psychological effects of a Ripple price drop. 

Cognitive dissonance

Cognitive dissonance is an unpleasant feeling that arises when making choices. Nobody likes to make the wrong choice. And certainly not when money is at stake. For example, when you purchase a cryptocurrency, you will convince yourself that this is the right choice. After all, you want to keep the good feeling and not regret your purchase. You adjust your attitude, behavior or your thoughts to avoid the bad feeling.

You look for messages and sounds to confirm the good feeling. To avoid the bad feeling after a purchase, investors tend to herd and look for confirmation. Because if everyone else does it, then it must be good, right?

If we look at the negative tweet from  Elon Musk, we see this happening. One negative tweet from a person highly regarded in the investment world resulting in a whole bunch of people wanting to sell their crypto, which then resulted in a drop of the Ethereum price.

Confirmation

Social media is also a place where investors look for confirmation, especially with existing algorithms on social media, you will be linked to like-minded people. This is often referred to as social proof. A danger of this is that tunnel vision arises because you are only looking for confirmation.

The positives stand out but the negatives of the investment are ignored. The right and above all diverse sources of information help to prevent tunnel vision. This phenomenon is called confirmation bias.

Anchor heuristic

Another psychological effect that arises is anchor heuristic. The investor attaches great value to the old price of a cryptocurrency but completely forgets to look at why the price has started a decline. The cryptocurrency can be bought with a ‘discount’ because this currency has recently had great days and the value is determined based on the old price.

In the event of a decline, it is very important to consider the economic causes. Another danger of social media is repetitive and simple information, which sticks in your memory better than complicated white papers. In addition, the search for confirmation is reinforced on certain forums, communities and Facebook groups.

Top Trading Tips To Help You Think Like A Professional

More and more people are starting to turn their heads toward the idea of trading, especially as they start to realize the importance of having multiple streams of income. While many people view trading as an opportunity to make supplemental cash, others opt to make it their full-time profession. Regardless of whether you want to build a career around trading or hope to make it your side hustle, there are many things that you need to consider. If you are a new trader, you are probably excited about finding out how you can make money immediately. However, you need to keep in mind that trading is a risky business; you need to think strategically and weigh out your options before taking any steps forward. You have to understand its dynamics and its every aspect; having realistic expectations is key. Read through our article to find out the top trading tips that will help you think like a professional. 

Stick to a Trading Plan

Trading is a business and is a risky one for that matter. Just like every business has its own goals, objectives, and strategic plans, your trades need one too. Your trading plan should include your entry and exit points, as well as a money management standard for each of your purchases. Luckily, with the help of technology, you can easily approximate your risks and assess trading ideas nowadays. This will prevent you from risking or experimenting with real money. This testing practice is known as backtesting, and it is designed to help you put your trading idea to the test with the use of historical data. This will allow you to find out whether your idea is practical. After you develop your trading plan and backtest it, you can finally implement it into real-time trading. You need to make it a point to stick to your plan; completing trades that weren’t part of your game plan, even if they seem like great deals or turn out great, you will still be considered a poor strategist. 

Trading is Your Business

As we explained above, your trading practices, even if you are no more than a hobbyist, should still be treated as a full or part-time business. This is because otherwise, you will never be keen on learning. You may also find yourself frustrated because trading doesn’t yield a regular or reliable paycheck. When you approach trading like you would approach your business, you will be able to accept that it comes with losses, expenses, uncertainty, taxes, risk, and a lot of stress. Think of yourself as a small or growing business owner rather than a trader; a trader, much like a business owner, must strategize, research, and continue to develop so that their business’ potential is maximized. 

Make Use of Technology

Trading is a highly competitive business and therefore, you should always assume that others are making the best use of all the available and accessible technology. Using charting and VWAP platforms can help you gain insight into several aspects and perspectives of the market. Carefully analyzing the charts as well as backtesting your ideas before you proceed with them can help you avoid many potential risks and losses. These platforms are widely available on smartphones for download, which is something that you need to take advantage of. This allows you to stay on track, be constantly aware of major updates, monitor your trades, and keep an eye on the market on the go. Even if it’s as minor as having access to the internet, every aspect of technology can play a great role in helping you advance in your trades. Understanding the power of technology and knowing exactly how it can help you in your trades can help you increase your performance. Look out for new products, services, and platforms that can help you become a more insightful trader; technology is always evolving!

Trade What You Can Afford To Lose

As a newbie, you may be tempted to go all-in so that you can generate higher rewards. This is highly risky; professional traders know that they should not be trading at the expense of other important obligations. Your trading account should only include the money that you’ve allocated for your trading expenses- money that is really expendable. If you are not there yet, then you should save some more before you start trading. 

Whether it is because of the increasing financial awareness or the need for supplementary streams of income, many people have started taking an interest in trading. Unfortunately, many people think of trading as a mere hobby or a side job. While many of their trades may end up successful, they will never be professional traders. When it comes to trading, the key is to treat it as your business.

How to Top Up a Bitcoin Wallet

If you want to take advantage of the potential gains from the crypto market, especially by investing and trading in Bitcoin, you first need to know how to top up a bitcoin wallet. This is because you cannot buy or invest in Bitcoin if you do not have a Bitcoin wallet. A wallet is a safe and secure form of storage that allows you to send, receive bitcoins and store digital coins. So, if you want to hold or transact in BTC, you must have a wallet. There are different types of Bitcoin wallets such as mobile, desktop, online, hardware, and paper wallets. Since your balance will go down after you pay with the coins or sell them, you need to know how to top up a bitcoin account, so you can replenish the wallet and keep enjoying the benefits of these digital coins.

Steps follow to top up your Bitcoin wallet

When we look into how to top up your Bitcoin wallet, we assume that you already have a wallet because you cannot have any of the cryptocurrencies without one. Below are the steps to follow when topping up your BTC wallet:

Make your Bitcoin order

Typically, you need to find a reliable exchange from which to buy your BTC. The exchange should charge reasonable fees and be secure and trustworthy since you could lose your money if you are not careful. To place an order, you only need to choose the amount of crypto you want to buy, indicate your payment method, and then move to the next step.

Depending on the exchange you choose, you can pay with various means. Would you like to top up your Bitcoin wallet on Nakitcoins? It would be one of the wise decisions you can make because Nakitcoins is one of the best Bitcoin exchanges. It offers you the chance to walk into their office in Turkey and buy bitcoins with cash with no limits, and you enjoy the utmost security and privacy. You can also buy online through the Nakitcoins website because it is a decentralized exchange. You can use your bank card or a cash voucher such as Neosurf to pay for the coins. Also, selling BTC on Nakitcoins is equally convenient, as is exchanging them for other cryptocurrencies.

Key in Your Wallet Address

Each Bitcoin wallet has a public key and a private key. These are generally lengthy strings of numbers and letters. The public key is visible to other people and appears on the blockchain network. You give out your public key to those transferring coins to you. On the other hand, the private key is your wallet’s password. You are the only one who knows it, and you must keep it secure by not sharing with others or even losing it because it cannot be reset.

To buy Bitcoin and send it to your address, that is, your Bitcoin wallet, you have to enter your public key, which may also be referred to as the wallet address. This will enable the exchange to send the coins to your Bitcoin wallet. Once you have entered the public address, you only have to confirm your wallet address via email. Then you can wait for the bitcoins to be sent to your crypto wallet.

Now you know how to do a Bitcoin top-up if you have been seeking information on how to top up a Bitcoin wallet. As you choose the exchange from which you will buy bitcoins, you need to be cautious and choose only secure platforms that charge reasonable fees. Also, ensure they will process the transfer of BTC to your wallet speedily and have a good reputation.

How to Decide Which Stocks Are a Good Investment and Which Aren’t

There are many people now that choose to invest in stocks, this is probably because it doesn’t require much work. In other words, it is something that you can do besides your day job to increase your income. That being said, buying stocks isn’t as simple as you may think, it isn’t like walking into a store and purchasing any item. There are many steps that you need to take first like creating a brokerage account, researching, and adding funds. Taking these steps will ensure that you know what you are doing before you start investing. Research is very important as well because just buying stocks without analyzing them is a quick way to lose money instead of making it. So, keep reading to learn how you can decide which stocks are a good investment and which aren’t. 

Determine Your Goals

Not all investors have the same goals in mind, each person hopes to accomplish something different with their investment. For example, young people have different investing interests like increasing their portfolios, while older investors who are near retirement are interested in bigger investments, so they can live off their holdings. On the other hand, some investors want a regular income, so they go for investments in the form of distributions or dividends. This is why you should determine your goals first, and once you do, you will be able to decide which companies to invest in. 

Choose the Right Company

It is important to invest in a company that you know a lot about because you will become a partial owner in it, and if you don’t understand the business, then you will set yourself up for failure. It is important to know that if a product is successful or widely used, then this means that its stocks are performing very well. So, if you understand a product or use it then investing in it is a smart idea. People who spend most of their time in hotels or understand the hospitality industry choose to invest in hotels, while people who know electronics are always on the lookout for drone stocks to buy, in other words, as long as you understand the business you invest in, you are safe. You can also consider the industry that you are employed in, even if you don’t use the products that they sell, you will still have an above-average understanding of it to determine if buying stocks in it is a good idea or not. It is important to stay away from companies that you don’t know much about. Simply ask yourself, “do I understand how they make money?” If the answer is no, then avoid these stocks. 

Be Realistic with Your Choices

It is a dream for many people to invest in a small business and watch its price go up in months. Who didn’t dream of investing in Apple when Steve Jobs and Steve Wozniak were just starting up in a garage. However, this is just a fantasy, and when it comes to your money it is important to be realistic. This is why you should buy stock in companies that have a successful track record, this means that you will have to avoid new companies and startups. You shouldn’t take risks with money because your goal should be making money and not losing it, and making any profits from new businesses isn’t guaranteed. Moreover, make sure that the company that you choose has been growing and making profits for the last ten years or so. 

Don’t Put All Your Eggs in One Basket

As mentioned before, you should invest in a business that you know a lot about, however, that doesn’t mean that you should put all your eggs in one basket. Simply put, you shouldn’t invest in just one industry, for example, if your knowledge is in IT you may be tempted to only buy tech stocks. Nevertheless, the market isn’t stable and although technology seems like a safe bet now, it won’t remain this way forever. This is why it is better to buy stocks in different industries. It may seem like a good idea to invest in one thing while it is flying high, but imagine the consequences when their stock falls one day.

Investing in stock can be very tempting, especially if you start making a steady income from it. However, if you invest in a bad stock, you can end up with more losses than you can imagine. For this reason, you should first determine your goal, choose a business that you understand, be realistic with your company choices, and don’t invest in one industry. Last but not least, you should do thorough research before making any decision or taking any steps.