Top Five Intra Day Trading Tips To Become A Better Trader

Warren Buffett once said, “The stock market is a device for transferring money from the impatient to the patient”. This applies to both – traders and investors alike. However, if you are an absolute beginner, there is always some room for improvement. We have listed below the 10 best day trading tips that successful traders follow. Learn them mindfully and take note to level up your trading. Moreover, you can also check out the best day trading tips and make money from online trading in Indian stock markets.

This is why rookie traders often look for advice from experts who have carved their names in the industry. Read on to find out what you may require before venturing in this high-risk but ultimately-rewarding industry.

1. Learn from a Professional Trader – Day Trading Tips

It is always better to learn to trade from an expert before you jump directly into the ocean. Try and find out who has a good teaching methodology and carefully choose the one that suits your style. Most of the trainers or masters will definitely charge a fee for the time spared. Don’t you worry! It is no fee. It is called investment.

After all, you are a trader and one day when you have made it big, you may be approached by newbies and you likewise charge them. But most importantly, if you invest into education, you are saving on market tuition from learning the lessons the hard way, on the expense of your account balance.

2. Pay Attention to the Financial News

Want to be the best trader around? Keep a close eye on the world around you especially business news. Stay updated about firms entangled in IP issues, Failed FDA nod, Board reshuffle, International projects, and dismal earnings estimates of the quarter.

Every news related to the firm you are making an investment in makes sense. Back your decision with these inputs. For a smarter decision while trading, keep abreast of every piece of information on your preferred investment firm.

3. Found Your Niche? Ace It!

Nobody can guarantee you a blockbuster return. You make your own choices and decisions and learn from your mistakes. Only you know which strategies or niches worked for you and which don’t. If you really have the zeal to excel in day trading, you need to be right on top of your business.

Once you have found the niche to work upon, become really good at that. Master it and it will enhance your odds of success in the trading manifold.

4. Treat it like a Business!

Have a hobby? Pursue it somewhere else. Making money and day trading is a serious business. You don’t do it for fun so even before you start to trade, you need to settle with the fact that it is a serious, time-consuming business and it will take time to break even. If you want to gamble, Las Vegas might have better odds.

5. Follow the Pros

Julius Caesar once said, “Experience is the teacher of all things”. Trading experts, despite their level of training, have a lot to boast, thanks to experience.

Follow the moves of the pros and find out what are they investing in? When do they buy? When do they sell? For how long do they hold? Try and understand how profit is made. You can learn a great deal from the mistakes they once made and then harness them to your advantage.

6. Have Patience

Rome was not built in a day. It takes time to master any skill and the same goes with stock trading. It can give you the best returns only if you trade wisely. Researchers have shown that those who trade less tend to earn better than the one who trades very frequently.

This is just like stalking your prey and then striking when you have absolute chances of success. Always remember that when you trade in average and not-so-good setups, you lose on good deals and eventually your profits take a hit. Therefore, one crucial day trading tips are that quality matters over quantity.

7. Don’t be Emotional & Follow Day Trading Tips

The world of trading calls that you keep a level mind and remember that if you let your emotions get the better of you while trading, you will most likely lose out on your money. Emotions make you take irrational, impulsive decisions which should never happen.

Frequent errors like letting your losses get out of proportion, adding to a losing position, not making timely withdrawals et cetera are made time and again. People fall into the emotional trap and make unconsidered decisions. And while you cannot help having them, learning to control your emotions will go a long way in positioning you as a shrewd trader. Work on the emotional quotient and you’ll make wiser decisions.

8. Sharing is Caring

Now that you have learned from your mistakes and other’s as well, it is time to share. You must share the experience you had while trading. You can start a blog, a YouTube channel or other medium for reaching out. Furthermore, you can have a comment section for answering the questions of your visitors.

This will not only help others but will certainly keep you disciplined. This habit will make you more accountable and you might think twice before making a trade you know, you should not be making.

9. When There Are No Good Plays, Don’t Trade!

What? Do not be shocked as this is no less a practical tip than the rest. Sometimes it is good that you don’t trade. Trading just for the mere fact is not a smart choice.

Trade only when you see money lying on the floor or the offer is too lucrative to let it go. Take your chances and remember that this is a highly dynamic world so weigh all possible benefits of making a move against sitting back and speculating.

10. Have Confidence

As obvious as it may sound, this is a key component of a refined trader. Whichever trading style you choose, you got to believe in yourself as failure to believe in the efforts you are putting or the decisions you are taking will never make you a winner. I might sound strange but people do not get good returns just because they cannot believe they will. This negative thinking results in negative returns.

Remember! Successful traders were also amateurs and novices when they started out. Their success has come from the hard work and efforts they have put in. Make mistakes and learn from them to continue trading until you start making profits.

As mentioned in the beginning, these day trading tips shared will let you learn some important hacks to improve Your game. Apply these diligently and you are sure to advance in your endeavors.

Does Social Media Help In Getting An Auto Loan?

Looking for Loan Management Software (LMS)? Here are three things to focus on when selecting one for your business:

1. How much are you willing to pay?

2. Why does your business need a Loan Management Software?

3. What features does your business require in a Loan Management Software?

To help you answer these questions, here is our guide on how to choose the right Loan Management Software for your business.

What is Loan Management Software?

As its name suggests, Loan Management Software was originally designed to help lenders build and maintain relationships with new and existing customers who have borrowed cash. Today, however, Loan Management Software has evolved from a simple contact management system into a robust tool that lets you manage leads, customers, sales, marketing, call centres, scoring, under-writing, payment processing, reconciliation, accounting, backend processing and other types of transactional and operational data, all in one easily accessible solution.

It can also integrate data from other areas of your business without any additional work. A Loan Management software gives lenders and their sales teams all the tools necessary to grow your business in a central hub with the least amount of work possible.

How much does a Loan Management Software cost?

The cost of LMS varies greatly. LMS Providers typically use a transaction-based pricing model, which can depend on a variety of factors, such as the number of active loans and the payment processed.

For the most part, you can expect to pay on a per-transaction, per-month basis or one-time cost depending on the model. You may also come across providers that charge a flat monthly fee but require larger packages or extra fees for support & maintenance. Pricing can range from $1 per transaction per month to hundreds of dollars per month, depending on your business’ unique needs.

Don’t have a budget for LMS software? Or maybe you’re not sure that LMS software is right for your business, but would like to see what it has offer? One option is to schedule a demo of a few LMS Solutions in the market or try a free trial if offered by any of the vendors.

Do you need Loan Management Software?

LMS can make your life as a lender much easier, while also helping your agents and managers get the job done in a more efficient and streamlined way.

If the following statements apply to you, your business needs Loan Management Software:

1. You need a robust Contact management.

At its core, contact management part of the LMS is all about keeping information from various sources organized. If you’re looking for a better way to store and manage customer information, LMS is the best solution for your business. It acts as an entire database for all types of insights on customers, including contact information, loan applications, loan and transaction histories, how customers browse your website, ways and times they’ve applied a loan with your company, demographics, interests, personal preferences and more. You can then use this information to segment customers for marketing purposes or to easily search for customers who fit specific criteria.

2. You’re looking for an automated way to boost sales.

LMS doesn’t just keep your contacts organized – it also offers a bevy of tools to help you boost sales and execute more effective marketing campaigns. These include:

Lead Generation. Find new customers by automatically taking-in leads from various sources like social media, website visitors, lead providers, inbound calls, newsletter sign-ups and more.

Email Marketing. Automatically build email lists, launch email marketing campaigns and measure performance. Loan Management Software can also send email reminders to customers and prospects to drive sales – for instance, by reminding them of abandoned loan applications, suggesting loan products or promotions that they may be interested in and other ways to make up for missed sales opportunities.

3. You’re looking for an automated way to funnel your leads

A robust LMS doesn’t allow you to work on leads, thereby wasting your precious time. It integrates a configurable under-writing engine that does the first level of filtering your quality leads.

Under-writing. Qualify and filter leads automatically with pre-defined set of rules or criteria (Under-writing), so that, you only have to spend of quality leads when they are sent to Credit Bureaus for Scoring.

Scoring. From a lenders perspective, just qualifying leads is not enough to accept the leads because every lead is associated with a certain cost. The leads need to be scored for various criteria before they are accepted. There are various Credit Bureaus in the market that allows the leads to be scored and sometimes, the leads should pass through multiple Bureaus’ Verifications before they are accepted. A good LMS should allow such integrations of multiple Credit Bureaus to score leads and sometimes with an option to define order in which they should pass through each Credit Bureaus

Verification. Now that, we have the quality leads that need to be verified. Only at this point that, your Agents start calling the leads and go through various verification steps of Loan Application. A flexible Loan Management Software lets you define the verification process, call queue, agent allocation to different type of leads, auto originate loans for good leads etc. Any lead that passes this verification is ready for approval upon the customer signing the Electronic Loan Agreement.

4. You’re looking to streamline the Loan Approval Process

Loan Agreement. The Electronic Loan Agreement binds the customers with the lender. Any lender’s choice would be to have multiple loan agreements for different loan types or products and the ability to add or truncate rules based on the lending rules of each state.

E-sign. Any lead that passes this verification is ready for approval upon the customer signing the Electronic Loan Agreement, which is called E-Sign. A good Loan Management Software either has an inbuilt E-Sign mechanism or allows to integrate with E-Sign Services like DocuSign or HelloSign. In-built mechanism obviously reduces the cost while integration allows you to use the service of your choice for E-Sign Process.

Loan Approval. The moment customer signs the E-Sign Document, the Loan Application sent to the Agent’s Manager for Approval. In case of a good lead, if an auto-origination process is defined in the Loan Management Software, the Loan Application is automatically approved and is ready to be funded. Other Loan Applications are approved by the Agent’s Manager and on approval and goes for funding.

5. You’re looking to automate payment processing

Payment Processing. Once the loan is approved, it will be ready for funding. The funding can happen immediately or at the end of each day. An efficient Loan Management Software should be capable of defining when and how the funding should happen every. Usually, the payments are processed through ACH Providers. The Loan Management Software can integrate one or multiple ACH providers based on lender specifics.

Return Processing. Receiving returns from the bank or payment processors and updating them in the LMS can be quite a tedious task. The returned transaction must be charged with an NSF Fee or a Late Fee, which has to be notified to the customer. The LMS you choose should have the ability to automatically process this information.

Collection. Collections are a part of any lending portfolio. Non-performing loans may be handed over to collection agencies by the lenders. This follows a set of rules that varies based on the state and lender. The LMS you choose should have the means to accommodate the rules and should be flexible enough to change at any point of time.

Choosing the right Loan Management Software

Ready to invest in Loan Management software? There are many different types available, so choosing the right one is the key to making it work for your lending business. Here’s what a lender need to ask a potential LMS Provider

1. Is it built for your market and loan types?
2. How easy is it to use? Can I easily train employees?
3. How customizable is the software?
4. What features are available to help me with sales, marketing and other aspects of my business?
5. How easy is it to integrate with third-party providers I already use?
6. What limitations are there to using the software?
7. What engagement models and costing options available? Are there any setup or additional fees? What if I need to expand my portfolio?
8. What type of security features does it have to protect my business’s and customers’ data? What happens if there is an outage? How is my data backed up in the cloud, and can I access it immediately?
9. If I need help, what type of customer service do you offer? Can I reach you any time, or is there a long turnaround period?

sip calculator magnetizing the investors towards online investing

Many novice investors seek information regarding online investment opportunities. Of course, we all want an expert at our disposal. However, most of us cannot afford an expert. A wealth of knowledge is available on the internet for those of us who need the basics to get started. For many novice investors, it may be difficult to discern which sites offer credible information regarding investing. Our guide will discuss the information available for online investors.

Insider Trade Tips

Investors will research and find numerous sources of information regarding online investment opportunities. Investors may receive insider trader tips on a daily basis. This will help them determine which stocks are expected to perform well. Novice investors appreciate this type of advice. Often novice investors are not aware of how to predict which stocks will perform well based only upon news information or information about the business. These tips are especially useful when trading online without the direct help of an experienced investor. Trading software is also available to assist novice investors in making sound business decisions.

Investment Strategy Tips

Many websites offer individuals investment strategy tips on their website. The tips may be regarding stocks, bonds, Exchange Traded Funds (ETFs), commodities or other types of investments. Investors are given advice on how to invest in both a bull market and a bear market. The strategies are remarkably different. In a bear market, investors may tend toward safe investments with moderate growth. In bull markets, volatile investments may yield the most return on investment (ROI).

Online websites will also teach investors how to select sound investment opportunities. Market trends will be revealed to help investors make sound decisions regarding investing. Search for companies that offer investors free seminars and online forums. These webinars will teach investors the basics of investing.

Portfolio Diversification

Portfolio diversification strategies are also discussed online. Investors will be informed of the percentages that they should invest in various investments. For instance, experts recommend that approximately 35% of an investor’s portfolio be in precious metals. Precious metals are safe during a declining economy. The price of gold, for instance, rises when the economy is in decline. Investors should be aware of how to structure their portfolio to avoid catastrophic losses.

Investors will learn the difference between safe investments versus volatile investments. Mutual funds are an example of a safe investment. Stocks are a more volatile investment. The more volatile the stock, the more investors must watch the market to avoid losses. Recommended percentages of investments will be revealed through tips offered online. The information provided will be based on historical data, as well as, the current market state. Investors will learn how to identify opportunities, analyze investments, purchase investments and monitor investments.

Daily News and Streaming Quotes

Much of investing requires monitoring the daily news and predicting how political movements, business deals and the economy will affect a particular security. The financial status of a company and its leadership will also affect the stock prices. Acquisition of a new Chief Financial Officer, for instance, may signify growth and change within a company. This indicates that stock prices may increase. Therefore, investors could conclude to enter the market while the price is still low.

News sources that are offered real time are the best types of news sources. Investors will learn how various news releases will affect stocks. Investors should check new sources daily to determine how the news will affect their securities. Many websites offer DVDs to teach investors how to interpret news releases. Investors will find a wealth of knowledge that will move them forward in their investing career.

Market Analysis

Many online websites will analyze stocks and investments for investors. Websites are also available to select the top performers daily. These watch lists will help individuals make decisions with the help of experts who have knowledge of market trends. Other websites will offer daily stock picks to consumers. These individuals invest as a group, which seem to offer more security than investing alone.