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If you have been trading for a while, then there is a good chance that you have made some trading mistakes along the way.

Unfortunately, it is part of learning how to trade.

After all, trading is a skill that takes time to learn.

Trading mistakes are part of the learning process. I know that sucks to hear, but it is the truth.

The outcome goal is to learn from those trading mistakes.

Then, you can realize what you did wrong so you do not repeat those same mistakes.

However, more than not, it is more common to repeat the same mistake over and over again.

If you are ready to recognize trading errors and learn how to overcome them, then keep digging in. Take notes and adjust your trading plan accordingly.

We will cover emotional trading mistakes, technical trading errors, and option trading mistakes.

Learn how to avoid common trading mistakes. These common mistakes in stock trading can have you lose more than planned. Learn how to improve trades and achieve a higher profitability.

What Are Trading Mistakes?

Trading mistakes are errors made by traders when you enter trades, either to purchase stocks or options.

More than likely, you will see the same type of trading error happening over and over again.

Trading mistakes are very common, but they do not have to lead to complete panic.

In order to minimize the chances of making a costly mistake, traders should adhere to their trading strategy. Additionally, traders should always trade with a clear head and stay disciplined.

There are plenty of trading mistakes you can avoid by being smart and adjusting your trading plan where needed.

Why Understanding Trading Mistakes Is Important for Long-term Success

Trading mistakes are the result of traders taking losing trades, which can result in poor overall performance.

Mistakes that occur during trading often include not paying attention to the market, not understanding risk, not having a well-thought out trading strategy, and being bad at managing the trade.

Whatever the reason, trading errors occur and it is how we react to them that matters.

Long-term success in trading is not a goal that can be accomplished overnight.

Achieving long-term success with active trading requires patience, discipline, and practice.

It is easy to get caught up in day-to-day successes and forget to commit to a long-term plan. As traders, it is important to be able to recognize our mistakes so that we can learn from them and move forward.

Top 5 Trading Mistakes

A picture of crumbled paper to show the top trading mistakes.

As you will see, we compiled a long list of trading mistakes. Each trader will see some of those trading errors in themselves. Some are small trading mistakes while others are detrimental.

First, we are going to focus on the top five trading mistakes first. This will make or break your success as a trader.

The following are five common trading mistakes that traders make and how to avoid them.

#1 – No Trading Plan

Trading without a plan means you enter a trade without knowing your next step.

No trading plan means that traders are not able to set clear goals, establish risk-reward ratios, and avoid common pitfalls that can occur during a trade. This makes it difficult for traders to know when they should be buying, selling, or holding.

Trading without a plan is risky because it can lead to losses that are much higher than they need to be.

When starting out in trading, it is important to remember that we can only focus on what we can control. This means that we should not worry about things we cannot change, such as the past or the behavior of other traders. Instead, we should form a trading plan and stick to it so that we can succeed in the long run.

Creating your trading plan will happen with many revisions. The goal of the trading plan is to set your overall strategy for trading.

Also, you need to have a specific trading strategy for each trade you enter.

Avoid by: Spending time to develop a trading plan. Revise as needed. Stick to it.

#2 – Risk Management Plan is Missing

A picture showing how important a risk management plan is.

A risk management plan is essential for traders and it should be included in any trading plan.

Without a risk management plan, traders are more likely to make emotional decisions that can lead to costly mistakes. For many traders, this is the hardest thing for them to manage.

It is possible to create a risk management plan as your overall trading plan.

In your risk management plan, you must decide (in advance) how much money you are willing to lose based on the amount of profit you perceive to make. For instance, you are willing to risk $300 in order to make $1000.

Many day traders focus on a 2:1 reward-to-risk ratio. Personally, I look for stronger reward-to-risk ratios greater than 3:1.

Avoid by: Understand how risk is a part of making a profit. Set your risk tolerance and do not deviate from it.

#3 – Not Keeping a Trading Journal

One of the most important aspects of successful trading is keeping a journal.

This not only helps you keep track of your trades and performance, but it can also help you remember what worked and what did not. Journaling is so helpful and such an overlooked task.

Your trading journal is the perfect place to take notes, keep track of your wins and losses, and record market movements so that you can learn from past mistakes.

At the end of every trading session, you should take some time to analyze your trades.

  • What went well?
  • What didn’t go well?
  • Why did you make that particular trade?
  • What was your entry strategy?
  • What was your exit strategy?
  • Where was the overall market momentum?
  • Did you control your emotions?
  • What grade would you give yourself?

This analysis is important so that you can learn from your mistakes and improve your trading skills. Stay motivated to continue learning about trading and keep more profit.

Avoid by: Start journaling. Spend time after exiting a trade and the market day to understand what happen and why you did a certain trade.

#4 – Watching Too Many Stocks

Picture of a busy stock chart.

Watching too many stocks can lead to a decrease in returns and overall confusion on what is happening with your watchlist.

As a result, it is important to be selective.

The same can be said of stock scanners. If you are watching too many variables and possibilities, you can quickly become overwhelmed.

When you develop your trading plan, you need to decide how you find stocks.

Personally, I prefer to focus on a handful of stocks and a few key metrics. Then, watch them closely and trade accordingly.

As a new trader, I would pick about 5-10 stocks to analyze.

Avoid by: Revise your watchlist to half what you are currently watching.

#5 – Actually Exiting Trade as Planned

Above we talked about creating a trading plan and having a trading strategy for each trade taken.

But, the trading mistake happens when you do not exit the trade as planned.

This could be because of “hopemium” that the stock price will recover and you will get back your loss.

Our “hopemium” is that the stock price keeps rising and you will make more money.

Either one can be damaging to your trading account.

You created a plan. As a disciplined trader, you must follow your plan either to maximize your current profit or protect your risk against further losses.

Avoid by: Exiting at your set targets. Period.

12 Typical Emotional Trading Errors

Trading is 80% mental and 20% execution. Okay, I am not sure that there is an official study to back it up. But, I do know as a trader that emotions play heavily into your overall profit.

The typical emotional trading errors that traders make when they are in a trade are overconfidence, jumping into trades before the proper analysis is completed, and inability to take losses.

This is where most of the trading mistakes are made.

When first starting out in trading, it is easy to get caught up in the prospect of making a lot of money quickly. However, most traders find that trading is not easy to do and make common emotional trading errors.

Let’s dig into these emotional mistakes first and then we will follow up on the technical trading mistakes.

1. Letting emotions impair decision making

Emotions are an important part of decision-making, but it can be dangerous to allow them to influence our decisions. We should also take into account that emotions can often lead us astray.

It is clear that emotional trading can lead to bad decision making and, ultimately, financial losses.

When investors let their emotions take over, they are not thinking logically and may make impulsive decisions. For example, they may sell stocks when the market is down in order to avoid further losses, even though the stock may rebound soon after.

In order to be successful traders, it is important to stay calm and rational when making decisions.

Overcome by: Stick to your trading plan and take emotion out of the equation.

2. Unrealistic Profit Expectations

You go into every single trade expecting a home run! Enough money to achieve your dreams overnight!

These types of profit expectations will have you throwing your risk management plan out of the window and set you up for failure with greed, overconfidence, and impatience.

Be realistic about your expectations with trading activity.

Overcome by: Go for base hits. Small consistent wins.

3. Greed

Picture of someone grabbing a wad of cash in greed.

Greed is a deep-seated need for more profit without regard to the chart or market conditions.

The common rationale is hopefully the stock will go up. Typically, you hold your position too long and end up losing some of your gains.

Greed can manifest in many different ways, and people with greed often neglect their own needs in order to attain more.

Overcome by: Set an OCO bracket to exit the trade at your specified level. Take you out of the equation.

4. Fear of Missing Out (FOMO)

You fear that you missed out on a trade, so you decide to jump in. As a result, you are risking more than you should.

This trading mistake is common, especially with online trading communities.

As a result, you may buy at the high and watch the stock reverse.

Overcome by: Realize that there will be missed opportunities. That is part of the game. There will always be another chance.

5. Fear

In many cases, fear is a reaction to why or why not we enter a trade.

For any trader, they may become frozen unable able to make a decision as their mind is wrapped in fear. At the same time, they are either missing out on potential profits or unable to exit a trade due to mounting losses.

Overcome by: This is a real emotion that you must overcome. Take the time and read resources to help you overcome being paralyzed by fear.

6. Overconfidence after a profitable trade

Picture of a guy throwing money after a profitable trade.

The overconfidence that comes with success can lead to a loss of profits.

When a trader has a winning position, they may become overconfident and make bad decisions because of the previously profitable trade.

For example, they may not take their profits off the table when there is an opportunity to do so or increase their position size when they should be taking profits. This could lead to them losing all of their winnings and more.

Overcome by: Take a break from trading for a few days or a week after a big win.

7. Entering a Trade Based on Your Gut

The process of entering a trade based on your gut is, essentially, following your “gut feeling” and buying or selling shares after the market opens. This is seen as a more risky and less profitable strategy than following a more traditional market timing approach.

Trading is all about making calculated decisions and sticking to a plan.

Trading based on your gut feeling or emotions will only lead to costly mistakes.

Overcome by: Before entering into any trade, make sure you have a solid strategy in place and know all the rules. Only then should you start trading.

8. Not reviewing trades

Picture of a notebook to journal trades.

Not reviewing trades is a common problem for many traders. Traders who don’t review their trades tend to be more likely to make mistakes in their trading and over-trade, which can result in losses.

You will make the same mistake over and over again until you realize the root of the problem.

This is how you move from a losing average to a winning percentage.

Overcome by: Let your journal be your friend. Document everything including your emotions.

9. Following the Herd

Many people enjoy following the herd with stock trading, especially online platforms on Reddit, Discord, or Twitter.

You may decide to follow a certain group of people in order to be fed stock picks or updates.

This can be risky because there is no sound foundation to base your trade upon.

Overcome by: Trade your style and let that fit you.

10. The Danger of Over-Confidence

The “beginner’s luck” experienced by some novice traders may lead them to believe that trading is the proverbial road to quick riches.

Over-confidence is the belief that one’s abilities, knowledge, or qualities are better than average.

This over-confidence is a risk factor for certain types of mistakes and other negative outcomes as it leads to complacency, a lack of preparation, and an overestimation of one’s abilities.

Overcome by: Realize your limitations and watch for overconfidence to appear.

11. The Importance of Accepting Losses

Losses are always a part of trading life, but they can be overwhelming when they occur.

It is important to recognize that losses are in fact an inevitable part of growth and development as a trader.

Overcome by: Journal all of your losses. Look for patterns to appear. Adjust your trading strategy as appropriate.

12. Quit Your Job Too Fast

Quitting your job too fast is not a good idea, as it will force you to place trades that may not be the best set-ups.

Day trading can be a very risky venture, and it is possible to lose everything you have invested.

It is important to be aware of the risks before getting started. More importantly, do not quit your job too fast. This can lead to losses in your investments and could potentially put you in a worse financial situation than you were before.

Overcome by: Keep trading as a side hustle. Hone your trading skills and build up a reserve fund that will cover your monthly expenses. You will know when you are prepared to leave your 9-5.

Common Mistakes in Stock Trading

Picture of a guy realizing his common mistakes in stock trading.

According to a study by the U.S. Securities and Exchange Commission, technical trading mistakes are actually fairly common among individual investors.

Mistakes in technical trading can be two-fold, either due to lack of knowledge or poor execution.

The most common mistakes are buying at the top and selling at the bottom, overtrading, and not taking the time to properly understand how trading works.

Now, let’s dig into all of the common trading mistakes I see.

1. Overtrading

Let’s start by talking about overtrading. This is a mistake that I see many people make. It is also a mistake that could have been easily prevented if you had just done your research before placing the trade.

Overtrading or placing more orders than you should do is the most common mistake.

Many new traders will simply open up their platform, look at the market, and place a trade. They are often chasing after the last couple of candles or they see an opportunity to get in “on the cheap”.

The problem with this approach is that you have no idea if this is a good trade or not. You are simply taking a shot in the dark and hoping for the best.

Overcome by: Only place the A+ setups that you like. Once you have traded so many times per day or week, stop trading.

2. Buying High and Selling Low

We all have heard the saying, “buy high and sell low.” However, too many novice traders do the complete opposite.

This trend happens with one of the emotional mistakes of FOMO; we already dived into that concept earlier.

Overcome by: Follow your trading plan on when to enter and exit the trade. Practice your strategy in a simulated account and master it.

3. Lack of Trading Knowledge

The lack of trading knowledge is a problem for many traders who are not familiar with how the stock market works. This can cause them to make mistakes when buying and selling stocks, which could result in losing a lot of money.

Just because you made a profit once on one stock does not mean that is a repeatable action.

In order to be successful in trading, it is important to have a good understanding of the markets and the strategies involved.

Without proper training, you are likely to make costly mistakes that can cost you money. Trading courses and tutorials are available online and through other resources to help you gain this knowledge and become a successful trader.

Overcome by: Take an investing course. Spend money on your education and not your losses. Here is a review of my favorite day trading course.

4. Following Too Many Strategies

Following too many strategies is a common problem in the investing world, which can lead to poor performance and more costly mistakes.

There are a million and one different approaches on how to trade the stock market, which indicators to use, whose advice you should follow, so on and so forth.

And then, many traders try and couple the strategies together only to quickly learn they may cause more losses than profits.

One way to avoid following too many strategies is by using a set of rules to decide which strategies are appropriate for investing.

Overcome by: Develop your trading plan. Outline the investing strategies you will use. Test any new strategies in SIM first.

5. Do Your Research

The solution to this problem is simple: do your research!

Before you enter a trade, take the time to do some analysis on the asset you are looking at. Look at past price action, news events, and any other relevant information that you can find.

Understand why the market might move in your favor and be able to build a case for it. The more data points you have supporting your position, the better off you will be.

If you are able to build a strong case for why the asset will move in your favor, then you can enter with confidence. This is because if the market does not move in your favor, you will know that it isn’t because of a lack of research on your part.

When you enter with confidence, this will make it easier to hold through the inevitable volatility and price swings.

Overcome by: If you enter without knowing why something is likely to move in your favor, then you are setting yourself up for failure. Do your research.

6. Not Using Stop-Loss Orders

Stop orders come in several varieties and can limit losses due to adverse movement in a stock or the market as a whole.

Tight stop losses generally mean that losses are capped before they become sizeable. However, you may have your stop loss too tight and get stopped out before your stock has room to move.

A corollary to this common trading mistake is when a trader cancels a stop order on a losing trade just before it can be triggered because they believe that the price trend will reverse.

Overcome by: Plan your stop loss in advance. Stick to it as it is part of an overall risk management strategy.

7. Letting Losses Grow

Active traders can be harmed by refusing to take quick action to close a losing trade.

It is important to take small losses quickly and limit your risk in order to stay profitable.

Stop losses can help you avoid larger losses.

While the stock may come back to your buy price, you have increased your risk far beyond what you planned. If your planned loss was $300 and now you are down over $500, it will take that much longer to overcome that growing loss.

Cut your losses. Review the chart. See what a better entry point may be.

Overcome by: If the stock moves past your pre-determined stop, then exit the trade. Don’t trade on hope.

8. Chasing After Performance

Many day traders are tempted to chase stocks, which is a bad reputation in the day trading world.

This happens when they see a stock that has had a large price increase and they think that it will continue to go up. In reality, this is not usually the case, and chasing stocks can lead to big losses.

What goes up must come down, right?

Overcome by: Wait for a better time to enter the trade according to your trading plan.

9. Avoiding Your Homework

It is important to do your homework. If you avoid doing your homework, then don’t expect fast results

Many new traders often do not do their homework before making any investment decisions.

This can lead to costly mistakes that can be avoided by doing some basic research. Trading is a complex process and should not be taken lightly – make sure you are fully prepared before risking your hard-earned money.

Overcome by: If you have not enrolled in an investing course, do that. Set daily goals on how to improve your trading performance that is not based on profit or loss.

10. Trading Difficult and Unclear Patterns

It is important to stick with the patterns and indicators that are clear and unmistakable so you don’t get caught up in any ambiguous or unclear trading signals.

With a little bit of research and understanding, these market patterns can become quite clear.

By forcing a chart to fit in what you want, then you are putting your trading capital at risk.

Overcome by: If you cannot read a clear chart or pattern, then quickly move to the next stock.

11. Poor Reward to Risk ratios

The most common mistake made by traders is poor risk management. This usually means taking on too much risk in relation to the potential rewards, which can lead to heavy losses if the trade goes wrong.

It is important to always have a solid plan for how much you are willing to lose on any given trade and never deviate from it.

What is the Reward to Risk ratio you look for:

  • 1:1 Reward to Risk
  • 2:1 Reward to Risk
  • 3:1 Reward to Risk

Many beginner traders do not want to take on as much risk because their appetite for potential rewards may be lower. It is important for beginners to consider their trading strategies and risk management plans so that they can make the most informed decisions possible.

Risk-to-reward ratios are an important part of trading, and experienced traders are typically more open to risk in order to maximize their potential rewards. This means that they may be more likely to make high-risk, high-reward trades.

Overcome by: Stick to Risk to reward ratios that fit your trading plan.

12. Ignoring volatility

Volatility is the fear and unknown in the market.

The most important thing to remember about investing is that the stock market can be volatile.

A measure of volatility is from the VIX.

Overcome by: Decide how you will trade when the VIX is high and the news is negative.

13. Too Many Open Positions

Entering too many positions is one of the most common mistakes investors make. A portfolio should consist of a handful of top-performing investments that have proven to be good bets over time.

It is unwise to open too many positions in a short amount of time because it could lead to confusion.

This can be risky because if one or two of the positions go south, the entire portfolio can suffer. For this reason, it is important to carefully consider each position before opening it and make sure that all positions are contributing positively to the overall goal.

Overcome by: As an active trader, stick to under 5 open positions. As a long-term investor, look to build a portfolio of 25 stocks over time.

14. Buying With Too Much Margin

Most brokers offer 2:1 or 4:1 margin to cash. While this is tempting to use, it can also give you a margin call.

Margin can help you make more money by increasing your position size, but it can also exaggerate your losses.

Exaggerated gains and losses that accompany small movements in price can spell disaster for a new trader using margin excessively.

Overcome by: Use your cash only. Stay away from using margin.

15. Following Meme Stocks

These are the stocks made popular by many Reddit personal finance groups.

You have probably heard of Gamestop, Blackberry, AMC, or Bed Bath and Beyond as a meme stock.

While these stocks have risen to crazy highs, they have also fallen just as fast. Chasing the high may leave you with a big and painful loss.

Overcome by: Stick to your stock watchlist.

16. Buying Stocks With No Volume

Buying stocks with no volume is a risky idea that involves placing an order on a stock without knowing how much interest there will be in the shares. This can result in losing money if there are no buyers for the shares.

It is important to validate the price of a stock by looking at volume. The volume shows how much interest there is in a stock and can be indicative of future price movement.

When volume is low, it’s best to stay away from buying stocks as it could be a sign that the stock price is not stable.

Overcome by: Trade stocks with a volume of at least 500,000 or higher.

17. Ignoring Indicators

Indicators are things that tell us the market is going up or down. Examples of indicators would be the stock market at a particular point in time, a company’s performance with regards to earnings, the price of a product or service.

Every trader has their own set of indicators they use.

If you have outlined indicators you use in your trading, make sure to follow them regardless if it is against the way you want the stock to move.

Overcome by: Stick to your trading plan for each stock individually.

18. Trading Too Large Position Sizes

Trading too large position sizes is a risk that traders may run into when they hold positions in their portfolios for extended periods of time.

Position size is the amount of money placed on a trade, and the risk is that a trader may lose more than their capital on the trade if it does not go well.

Overcome by: Base your position size on the amount you are willing to lose. Not how much you want to make.

19. Inexperienced Day Trading

In order to be successful in trading, it is important to have a good understanding of the markets and the strategies you are using. Without proper training, it is easy to make costly mistakes.

Too many day traders turn trading into an unnecessary risky game.

To be successful, a day trader must have a solid foundation in how to invest in stocks for beginners.

Overcome by: Practice in a simulated account and make all of your mistakes there before moving to live money.

20. Inconsistent trading size

Inconsistent trading size is when traders are unable to predict what their position size should be in order to meet the trader’s desired profit goal.

Trading size is one of the most crucial aspects of a trading strategy and should be considered carefully. Larger trade sizes come with an increased risk, so it’s important to be aware of your position size when making trades.

Overcome by: Don’t risk too much on one trade. Stick to your risk management plan.

21. Trading on numerous markets

Trading on numerous markets is when a trader invests in stocks, bonds, commodities, crypto, and other securities.

Every type of market moves differently and takes time to understand how to be profitable.

Overcome by: Find your niche and stick to it.

22. Over-leveraging

Leverage is a powerful tool that can be used to magnify gains and losses in a trade. It is important to be aware of the amount of leverage being used in order to effectively manage risk.

Brokers play an important role in protecting their customers by providing margin calls and other risk management tools.

Overcome by: If you feel over-leveraged, sell some positions before your broker gets involved.

23. Overexposing a position

Overexposure is a term used in the investment world to describe the risk that comes with exposing your position too much in the market. When you have overexposed your position, you are putting yourself at risk of losing money if the stock or security you are invested in falls in value.

You are taking on too much risk.

Overcome by: Stick to your risk management plan. Always have cash reverse on hand in case the market reverses.

24. Lack of time horizon

There are different time horizons for various types of trading strategies. It is important to think about the time horizon you are comfortable with before investing in any type of investment.

If you are a day trader, you plan to close your trades before the end of the trading session. As a swing trader, you typically hold trades for a couple of days maybe up to a month. As a long-term investor, you plan to hold your stocks for longer than a year.

Overcome by: Match the time horizon of that investment purchase with your investing goals.

25. Over-reliance on software

Although some trading software can be highly beneficial to traders, it is important not to over-rely on it.

Automated trading systems are becoming so advanced that they could revolutionize the markets. As a result, human traders need to be aware of the potential for these systems to make mistakes and use them in conjunction with their own judgment.

Overcome by: Set alerts before you want to enter or exit a trade. Then, review if the move still follows your trading strategy.

Top Options Trading Mistakes Beginner Traders Make

Picture of a phone and stock chart for

These options trading mistakes are specific to option trading.

Trading options is an advanced strategy. If you have losses trading stocks, wait before you start trading options.

1. Not having a Trading Plan

Every trader needs a trading plan that outlines strategies, game plans, and trade metrics.

When you are trading without a plan, you are essentially gambling and hoping for the best.

This is not a recipe for success in the world of stock trading and is especially true for options traders.

A good trading plan should include chart analysis so that you can make informed decisions about when to buy and sell stocks. If you are using HOPE instead of a trading plan, then you need to find out the right way to interpret the chart because that will give you a better idea of what is happening in the market and how likely it is that your investment will succeed.

Overcome by: Create a specific trading plan based on your option strategy.

2. Not properly Researching Option Contracts

Learning to trade options is like going to school for a whole different trade.

There are way too many technical aspects to discuss in this mistake.

Spend time learning what criteria you want from an options contract to be successful.

Overcome by: Learn how options work and practice trading options in the simulator before going live.

3. Trading without an understanding of the underlying asset

Before you start trading options, trade with stocks.

Every stock moves at its own beat. You need to learn how it moves.

Jumping into options prior to knowing the stock can cause extreme losses. Learn how the underlying asset moves first. Be successful in trading stocks before moving to options.

Overcome by: Learn to trade the stock with shares first. Then, practice in a simulator. Once familiar, then trade live with options.

4. Buying Out-of-the-Money (OTM) Call Options

Options trading is a risk-based strategy. It’s important to know which strategies are right for you and what the risks of each option type are before putting on an option trade.

One common mistake that many traders make when it comes to option trades is buying out-of-the-money (OTM) call options.

This is because OTM call options are inexpensive and have a range of around 100,000 to 1 million. To avoid this mistake, it’s important to know what the risks of buying OTM call options are and which option strategies are appropriate for you.

Overcome by: Focus on trading In-the-money (ITM) call contracts. Know your strategy.

5. Not Knowing What to Do When Assigned

When you enter into an options contract, you are essentially agreeing to buy or sell the underlying asset at a specific price on or before a certain date.

If the market moves in a way that benefits the buyer of the option (the person who contracts to buy the asset), they can choose to exercise their option and purchase the asset at the agreed-upon price. However, if the market moves in a way that benefits the seller of the option (the person who contracts to sell), then they may “assign” their contract to someone else – meaning that they no longer want to buy/sell the asset, but would like someone else to take on that responsibility.

This can be jarring if you haven’t factored it into your decision-making when trading options, so it is important to be aware of the possibility.

This is why traders need a higher trading level to sell options contracts or verticals.

Overcome by: Be okay with buying the shares if you are assigned. That is a part of your trading plan.

6. Legging Into Spreads

It is a common mistake for traders to get legged into spreads by entering positions when the market price has moved away from their position. They may have gotten caught up in the belief that they are being a “smart” trader by trying to profit from the spread.

The problem is that they are not taking into account that their cost basis must go up in order to maintain the position. If the market price of the underlying goes up, their cost basis must go up as well.

Overcome by: If you are not comfortable with this advanced strategy, then exit your options contract and place a new one.

7. Trading Illiquid Options

Trading illiquid options is a mistake because traders are taking on too much risk, with potentially disastrous consequences.

Illiquid means that the option cannot be bought or sold at the given time.

In other words, the option is not tradable. When traders trade illiquid options, they are taking a risk that their trades will not be executed because there is no liquidity in the market at that time. They have to hope that the market will become liquid again, and they can then sell their position or buy back their option at a lower price.

Overcome by: Check option volume and open interest at your strike place. Verify you have interest in moving your contract.

8. No Exit Plan

It is important to have a plan in case your trading strategy doesn’t pan out as planned.

This will give you the peace of mind that you won’t be left high and dry without an exit strategy.

With options is it more difficult to limit your risk to reward. As a result, you must decide your exit plan in advance.

Overcome by: Develop your trading strategy and include how and when you will exit the option contract.

Ready to Avoid these Trading Mistakes?

Investors are often their own worst enemy when it comes to trading.

They make emotional decisions instead of logical ones, and this leads to them making costly mistakes. Plus there are many technical errors new and seasoned traders are still making.

In order to be successful in the markets, investors must first learn to accept their losses and move on. Only then can they put that mistake behind them and focus on making profitable trades in the future.

In this post, I shared some of the more common trading mistakes that people make and how to avoid them.

Now, you have to work to avoid these trading mistakes and be profitable.

Learn how to avoid common trading mistakes. These common mistakes in stock trading can have you lose more than planned. Learn how to improve trades and achieve a higher profitability.

Know someone else that needs this, too? Then, please share!!

Source: moneybliss.org

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Good times happen in small spaces.

Have you rearranged your furniture countless times in an attempt to create a comfortable and inviting living room in a small space? The good news is that, with a bit of ingenuity, you can enjoy the living room of your dreams regardless of size. From bright and eclectic to minimalist and warm, you can incorporate many of today’s design trends into a small living room using our collection of small living room ideas.

The most important aspect of creating a space you love is ensuring it aligns with your vision and lifestyle. As Billy Baldwin, an icon in interior design, said, “Be faithful to your own taste because nothing you really like is ever out of style.”

Whether using decor tricks to create the illusion of a larger room or designing a cozy space for relaxation and entertainment, these apartment small living room ideas can take you there.

Let’s explore the many ways to make your small space shine!

1. Furniture to fill your space

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While it may seem contrary, integrating larger furniture, such as a sectional, can make the room appear more expansive. The key is choosing a color that blends in with the walls and opting for low-level, armless pieces. Another innovative option is selecting a couch with raised legs, creating a sense of space.

From there, carefully consider each piece of furniture, enhancing negative space while ensuring a living room designed for your lifestyle. Do you need a side table? Would nesting tables work as coffee tables and double as side tables when friends are over? Placing furniture in a close, conversational layout creates a cozy atmosphere for entertaining.

2. Cleverly placed mirrors

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The strategic use of mirrors is one of the best techniques for making rooms look bigger. Placing a large, beautiful mirror opposite windows brings in more natural light and brightens the entire room. Unless you’re going for a vintage look, simpler frames are generally a better choice when creating a sense of spaciousness.

You can also add dimension and atmosphere by placing a mirror close to a light source, like a table lamp or candle. Even mirrored furniture, such as a side table, reflects light, contributing to the illusion of more space. You can also go big with mirror panels. According to Architectural Digest, mirrored walls are in, yet again.

3. Color to the rescue

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Image Source: Rent. / Bahama Bay

You’ve probably heard that painting walls white creates the illusion of a bigger room. Any lighter color, however, such as soft neutrals and pastels, can have the same effect. You can even go bold if you stick to a limited palette.

From natural wood tones to deep greens or blues, rich hues offer a cozy, enveloping feeling, and complementary shades provide a cohesive look that can make a room look bigger.

If your rental agreement doesn’t allow painting, you can still add bursts of color with pillows, throws and artwork. One large painting creates a focal point, drawing the eyes upward while adding intrigue and contrast. Add a sizeable color-coordinated area rug big enough for all your furnishings to sit on, and you have the anchor that ties the room together. Need some inspiration? Check out these popular paint colors and decorating styles that range from art deco to bohemian and Japandi.

4. Lightweight window coverings

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Floor-to-ceiling window coverings add height and dimension but can make a room look smaller when made of heavy material. On the other hand, sheer fabrics provide a light and airy feeling while letting natural light infuse the room.

5. Layers of light

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While layered lighting is important in every room, this approach is particularly critical in small spaces. It combines ambient, task and accent lighting, drawing your attention to specific features while creating depth and intrigue.

Consider wall sconces, hanging pendant lights and strategically placed lamps. LED strips under shelving provide light from an unseen source, setting the mood by changing colors with one touch of a button.

6. Go vertical

Are you having trouble finding space for your bookcase and much-loved artwork? Consider a shelf at a height you can just reach that encircles the room.

This shelf can appear to float when painted the same color as the walls. Deliberately placed books, plants and artwork offer texture and functionality while drawing the eyes upward and making the room appear larger.

7. Purposeful living

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A small living room gives you the opportunity to embrace purposeful living. One way to achieve this is ensuring large pieces provide multi-functionality. An ottoman can double as a coffee table, hidden storage space and a footrest. A bench may offer storage for blankets. There are even bookcases with fold-down tables you can use as a desk.

8. Pay attention to the corners

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Image Source: Rent. / The Link

Adding houseplants, a beautiful lamp or strategic shelving to a few corners brings attention to every area, making your living room seem bigger. Not only do plants enhance your living space, but several studies show they also improve air quality, boost productivity and even reduce stress.

Some good options for darker corners include peace lilies, Boston ferns, philodendrons and spider plants. With indirect light, lush parlor palms and monstera plants can fill a corner.

9. Clutter-free

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Marie Kondo, developer of the KonMari Method for decluttering and star of two Netflix series, suggests that “Life truly begins only after you have put your house in order.” Tidying also creates a minimalist, clutter-free zone that does wonders for increasing a sense of space. Consider a few baskets or decorative boxes to hide remotes and other random items.

10. Bring the outdoors in

small living room ideas

Image Source: Apartment Guide / MAA Gardens

Natural light offers many gifts, including reduced energy usage and improved sleep. It also makes a space feel more expansive and filled with life. Installing a curtain pole extending past the windows allows you to draw curtains fully back, revealing more light and making your windows appear wider.

11. A space for book lovers

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Creating a cozy reading nook is often a top priority for book lovers. Fortunately, a window seat or corner chair with a soft blanket and throw pillows is often all it takes. Add a wall sconce or pendant light that saves space, and enjoy.

Are you ready to create a comfortable, more spacious living room where you relax with friends and family? Use these design tips to steer you in the right direction.

Still looking for your own cozy space to decorate? Start here.

Source: rent.com

Apache is functioning normally

I asked, as I sometimes do, what personal finance question my friends and Twitter followers had for me. It was a slow day on the internet and the responses flooded in.

My friend Neil asked, “what do you think about real estate?” A broad question, indeed, and I got him to clarify. “You know… should I buy a house? Why not just rent?”

Why not indeed.

The Dream of Home Ownership
I too bit off and gulped down the dream of home ownership when just a small lass. When I graduated from college, I moved to a Southern U.S. city — Charlotte, North Carolina — and like any young professional often in the company of older, established professionals — saw immediately that they all owned houses. And that this was very good.

What they had, I wanted: the houses with the staircases and the pretty backyard decks and the grand old trees in the back and the guest bathrooms with bowls of little colored soaps. I wanted a kitchen, with wide countertops and an arching clamp-hose faucet over the deep sinks and big drawers for flour and pot lids and recycling bins. And art on the walls, and a king-sized bed, and a walk-in closet, and a master bath.

My dream was only made more intense while shopping for condos in New York City, then in Reston, Virginia, with my 20s-era boyfriend. When he went to sign his first title, I went too, and we went out to lunch afterward at a restaurant on 54th street; we spent $112 and when I ate the tiny plate of tiny after-lunch sweets (a little cheesecake, a little truffle, a little gelee), I felt I’d arrived.

Years later, after the boyfriend, I became pregnant and my now-husband and I shopped for homes. My stories of those searches are intense and full of longing and stress; but by my fourth month of pregnancy I was living in house all my own. I vowed to never move.

Tip: Compare mortgage rates from multiple lenders for new home loans and mortgage refinance loans.

Other People’s Dreams
I am — I was — the classic case for home ownership. I live in a small city and, when I bought the house, prices were reasonable; my mortgage payment is now less than many pay for renting an apartment. I love working on the yard and painting walls and I even tiled my bathroom myself (with lots of structural help from my father and husband). My husband is handy, and can run wiring and solder plumbing and he built a whole room in the basement. We’re the home ownership success story (though admittedly we have a lot more work to do, and no walk-in closet, no master bath).

But for many people, home ownership should remain the stuff of other people’s dreams.

I think my friend Neil is a good example. His ex-wife longed to buy a home in Los Angeles, where they had made a home after Neil’s upbringing in New York City. The situation was probably even more intense for her than for me in Charlotte; their friends and colleagues owned expansive ranch-style show-homes and sweet artsy bungalows, in neighborhoods where the price-per-square foot probably neared four digits at the peak of the market. The mortgage on those homes would require all of one middle-class salary.

Even for the more economic choices, prices were high and there was no clear benefit to buying over renting; in fact, most mortgages would be more than the cost to rent a nice (and low-maintenance) apartment.

Neil wasn’t good with a hammer or a chop saw, nor did his wife have any desire to keep a fine vegetable garden. There was no dad around to rip out old bathroom floors or teach Neil to solder copper pipes. Neil had no dreams of living in his home forever with his growing family; to date, he has no children and he’s now divorced; he’s not sure if he’ll stay in LA for the rest of the year, let alone the decade. For him, home ownership is someone else’s dream.

Should I Buy a Home?
For me, Neil’s question was easy. “No,” I said finally. “I don’t think you should buy a home.”

“But isn’t that the goal?” he asked me. “Isn’t that what you’re supposed to do?”

Well, maybe. But I’ve found my own definition of “getting rich slowly” is often made up of doing few things that one is “supposed” to do; for me, living a double income, office job lifestyle is one such “supposed to” I’ve discarded. For Neil, I prescribed letting go of that “supposed to” of buying a home.

How to Know When You’re Neil
Are you Neil? That is to say, should you too avoid adopting the dream of home ownership? Here are a few signs you may be Neil:

  • You are still a transient. Of course, we know I don’t mean “homeless person.” I believe many of us today graduate college (or high school, if college wasn’t the path for you) as transients, expecting to live in one place for a few years before trying out another, and another, and another, until one feels like home (or until you fall in love with someone who’s rooted to a place, giving you a graft and rooting you, too). If you’re not sure yet if this place is going to be your home for more than the next few years, home ownership is not for you. With closing costs and the uncertainties of the real estate market, it’s very difficult to come out of a two-year home ownership transaction without losing money as compared to renting.
  • You have no desire to engage in home and garden upkeep. While some such people might hire gardeners and contractors to fill in the holes in their handy skills and passions, most of those who don’t care to pick weeds or fix fences or mow lawns or plant apple trees are better off with an apartment. Purchasing a condo might be an option, if you don’t say “yes” to any of the other items in the “are you Neil” list.
  • The market in your favorite neighborhood doesn’t make sense. If the cost of a monthly payment on a mortgage would be greatly higher than the price of a two-bedroom apartment or other rental suitable for your family’s needs — say, more than 25 or 30% higher — it’s probably not a good time to buy. While indeed mortgage interest deductions and home buyer credits and the time value of money might be squished around to make the comparative cost similar, do remember that life is uncertain and markets fluctuate and maybe you should wait a bit — or look around for a more sensible neighborhood — before buying something.
  • You’re not sure about your career or your job. Maybe you’re considering going back to school to become a sommelier. Maybe you’re pretty sure your boss wants to retire and sell the company. Maybe you just don’t love your job and you’re looking around for something new. If you’re not fairly confident your next few years won’t include a significant change in income, it’s probably not a good time to engage with the home ownership dream.
  • Your relationship with your partner is rocky. I’ve been watching several of my friends deal with the tough decision over what to do with the family home when a relationship is over. In one case that worked out for the best — the family made a nice profit from the sale. But that was a rarity. If you’re married, you might end up having to sell and take a significant loss, even if you’d rather stay in the house solo; if you’re not married, things could be even more wonky. One woman I know lost her grandmother’s home after a pre-marriage breakup (with someone who obviously turned out to be enough of a jerk to keep her grandmother’s home, though that analysis is one-sided and second-hand, so take it with salt). Be honest with yourself, and know that, much like puppies and babies, houses do not fix broken relationships.
  • You would have to cash in retirement or emergency savings to buy the house. A home buying fund should be separate from those savings for emergencies and retirement. You’ll have more emergencies, in all likelihood, with a home than without. And you know how we feel about retirement savings. If your dream is that intense, then you can use your intensity to fuel your frugality while you save up for the down payment.

It also makes sense to run the numbers through a rent vs. buy calculator to see if the results would influence your decision one way or another. Have you struggled with the decision to rent or buy? Where did you come out on the Neil/not Neil spectrum?

Source: getrichslowly.org

Apache is functioning normally

So I have a confession. Something about blog-land has been on my mind for quite some time. Where the hell are the men in design? Have they all passed out under the choking cloud of chevron, glitter, acrylic, gold, pink, and brass? Are they buried under furry pillows, floral prints and Moroccan everything? I’m dying to know how all the interior design lovers around the interwebs have rendered their men mute. Because I know the guy in my life would never let such an overtly feminized style fly.

And if I’m going to be honest, I kinda can’t stand they hyper-girlie design trends either. I find spaces grounded in thoughtful, yet practical design both refreshing and calming.

apt34oneroomchallengewk3IMG_7966+edited

There are a few key elements to this look.

A less is more approach. If there’s one thing I’ve come to learn over the years, particularly now that we have a baby – you really don’t need a lot of stuff! Sticking to utilitarian pieces will serve you in the long term. Yes, you can accessorize with things that you truly love but the tchotchke is only something you have to dust (or keep out of little fingers’ reach!).

Only add pieces with meaning. When you have an empty space it can be very tempting to fill it. But instead or running to the nearest big box take a more considered approach. What do you really need? What do you really really love?

Prioritize function as well as form. There isn’t a lot of room for precious pieces in this kind of style. That doesn’t mean you can’t collect beatutiful pieces but there’s a lot to be said for a gorgeous leather ottoma that will petina with age or a marble coffee table that will stand the test of time.

I’m excited to keep these design mantras in mind to create a space that is as useful as it is beautiful. Here is my current furniture inspiration for the media room.
media-room-design-one-room-challenge-apt34

couch | floor lamp | living room | rug | side table | pillow | pouf | art 

I see a cozy sectional that will be ready for lots of hours spent lounging. The key to making the room interesting is a variety of textures. Linen, leather, a wool rug, a cool textured mirror. I might sneak in a pop of metallic with a killer floor lamp, but we’ll have to see if that passes muster with my guy’s discerning design eye. With this insipiration in hand, I’m excited to move onto the next step – shopping!

Be sure to check out the rest of this week’s updates.

Apartment 34 | Arianna Belle | Because It’s Awesome | Coco+Kelley | Design Darling | Design Indulgence |Design Manifest | Christine Dovey | The English Room | Vanessa Francis | Hi Sugarplum | Honey We’re Home | Jojotastic | The Pink Clutch | The Pink Pagoda | Simplified Bee | Style Your Senses | A Thoughtful Place | Kimberly Whitman | The Zhush |

room image 1, room images 2

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Source: apartment34.com

Apache is functioning normally

Disney’s new live-action version of “The Little Mermaid” is bringing a new generation of fans under the surface and into the timeless, classic story.

If seeing “The Little Mermaid” on the big screen isn’t quite enough for you, then you can book a trip to go “Under the Sea” where life is the bubbles. There are vacation destinations worldwide where you can hang out with mermaids or sometimes even learn to swim, just like Ariel and her mer-friends.

We can’t guarantee that a hot crustacean band will randomly burst into song, but we can bet you’ll have a fin-flipping good time.

Orlando World Center Marriott — Orlando, Florida

ORLANDO WORLD CENTER MARRIOTT

Less than 2 miles from Walt Disney World at the Orlando World Center Marriott, guests can meet “real” mermaids during Mermaids & Glow pool parties on select Saturday nights throughout 2023. Parties are at the Falls Pool and include meet-and-greet photo opportunities with the mermaids, pool games, arts and crafts, glow face painting, giveaways and more.

You can browse details and party dates on the hotel’s website.

Pullman Maldives Maamutaa — Maldives

PULLMAN MALDIVES MAAMUTAA

Guests of the all-inclusive Pullman Maldives Maamutaa resort can learn how to become a mermaid in one of four different PADI-certified courses, ranging from beginner to advanced. Guests can test their fins in the PADI Discover Mermaid Experience or take their mer-lessons a step further by completing the full series of mermaid certifications. Beginner courses are designed for guests ages six and older, while more advanced courses require a higher minimum age.

If your schedule doesn’t allow for a full mermaid lesson, you can also schedule a swimming session with the resort’s “real-life” mermaids. Or, opt for a mermaid photo shoot that includes the use of a beautiful, shimmering mermaid tail and 10 digital photos in the resort’s swimming pool.

Kimpton Vero Beach Hotel + Spa — Vero Beach, Florida

KIMPTON VERO BEACH HOTEL + SPA

The Mermaid For a Day program at the Kimpton Vero Beach Hotel & Spa lets guests ages 6 to 10 “experience the magic of mermaids” with a one-hour group mermaid session that includes a commemorative photo.

Guests can also book the overnight Mermaid For a Day Getaway, which includes a mermaid-themed welcome gift and a colorful mermaid tail for your child to take home. Make reservations for the one-hour experience and the overnight package by calling or emailing the hotel directly.

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Hyatt Regency Maui Resort and Spa — Maui, Hawaii

THE MINDFUL MERMAID

Guests of the Hyatt Regency Maui Resort and Spa can choose from a variety of mermaiding courses designed for a range of ages and skill levels.

There is a Mini Mermaid Class (starting at $109 per person) for children ages 4 to 7 and a Social Media Mermaid Class (starting at $149 per person) that focuses on creating photos and videos for teens and adults. There is also a Beginner Mermaid Class (starting at $149 per person) that focuses on swimming skills for guests ages 8 and older. All classes take place in the resort’s lagoon-style pool.

Mermaid Freedive — Florida (various locations)

If your travels take you to Florida, Mermaid Freedive offers courses, retreats and photo shoots for all skill levels at locations across the state.

You can view the full list of courses on the Mermaid Freedive website. Some options include introductory courses at the Hilton West Palm Beach for children ages 6 to 9 and weekend-long mermaid retreats for adults in North Florida’s natural spring waters. No matter which course you choose, you’ll earn an official PADI mermaid certification after completion.

Four Seasons Bora Bora — Bora Bora, Tahiti

Later this year, guests of the Four Seasons Bora Bora will be able to become PADI-certified mermaids.

No matter your skill level, there will be a class that helps you feel comfortable embracing your mer-sona in the resort’s gorgeous, crystal-clear lagoon. The turquoise waters and the marine life swimming below the surface make a beautiful setting for learning to swim like a mermaid.

Silverton Mermaid School — Las Vegas, Nevada

SILVERTON CASINO HOTEL

The Silverton Casino Hotel in Las Vegas is well-known for its mesmerizing mermaid shows. The casino is home to a 117,000-gallon saltwater aquarium with thousands of marine animals, including some very special mermaids. For those who dream of joining their ranks, Silverton holds a 90-minute mermaid experience for visitors ages 7 and older at the Silverton Mermaid School.

Prices start at $175 but vary depending on which class type you choose, and you do not need to be a guest of the hotel to visit the Silverton Mermaid School.

Weeki Wachee Springs State Park — Weeki Wachee, Florida

For decades, people have traveled to Weeki Wachee Springs to see the world-famous mermaid show. However, watching from the other side of the glass just isn’t enough for some visitors. Luckily, Weeki Wachee’s Sirens of the Deep Mermaid Camp allows mer-curious guests to become mermaids during a two-day camp.

The camp is designed for adults ages 30 and older and includes underwater training sessions where you will learn the basic moves that Weeki Wachee mermaids perform during their shows. Former Weeki Wachee mermaids teach the sessions, which occur in Weeki Wachee’s freshwater springs.

Bottom line

Whether your kids are Ariel-obsessed or you want to realize a lifelong dream of donning fins and reliving the days you perfected your mermaid hair flip in the pool, there are vacation spots all over the world that can help you become a mermaid for a day. Whatever you do, though, don’t take relationship advice from evil sea witches.

Related reading:

Source: thepointsguy.com

Apache is functioning normally

Investing isn’t new to me. I opened my first CD in high school back in the good old days of 5 percent interest, and I started contributing to my 401(k) as soon as I was eligible (at age 21). I did everything right according to the articles I read. I:

  • Contributed enough to get the maximum employer match
  • Saved/invested around 10 percent of my income
  • Opened up an IRA

Before I break my arm patting myself on the back, let me tell you that I made a huge error. I stopped too soon in my investing education. Instead of continuing to learn, I rested on my investing laurels — and who knows how much money I’ve lost out on because I forgot that no one cares more about my money than I do.

And my huge error led me to make many mistakes. For instance, I didn’t realize until (embarrassingly) recently that different funds in your 401(k) have different fees. Selecting funds with low fees can make a huge difference in returns. Or “buy and hold” is not the same as “buy and forget about it.” And then there’s the issue of investing and taxes.

But doing something (even if I didn’t evaluate or understand my choices) is better than nothing, right? So there I stayed, comfortable in my stinky 401(k), letting my financial adviser make fund recommendations for my IRA.

Until this year. This year, I vowed to tackle my investing fear and ignorance. I’ve been reading old posts on Get Rich Slowly, collecting a list of investing books I want to read and perusing investing websites. I’ve created this list (along with my impressions of each resource) to help me learn more about investing, and I hope it helps you, too. It’s not an exhaustive list, of course. Also, in the interest of full disclosure, I get no compensation for including any of these resources.

Get Rich Slowly Blog Posts

For new readers, I dug through the GRS archives to find some solid investing posts. I wanted the posts to highlight different investing strategies and philosophies. I’m sure I missed a few, but this should save you from poking around the Investing archives — at least a few minutes, anyway.

Dividend-paying stocks This is a fairly recent post, focusing on dividend-paying stocks.

Roth IRAs Here is a great post on Roth IRAs.

Developing an investment policy statement – Before starting to invest, analyze why you are investing. What’s the point? Figuring that out first will help you form an investing strategy.

How the stock market works – The day this post ran was the day I understood more about the stock market. Sure, things have changed since this 1952 video, but the basics are still the same.

DRIPs This post succinctly covers dividend reinvestment programs.

Mutual funds Here is a great introduction to mutual funds.

Index funds This post describes why many people (including J.D.) have most of their portfolios in index funds.

Bonds No list would be complete without mentioning bonds.

Mutual fund prospectus Part of becoming an educated investor involves understanding where your money is going. Here’s how to read (and understand) a mutual fund prospectus.

Books

Best books on investing – This post covers eight well-known investing books, but it’s missing some good ones.

One of the good ones it’s missing is Peter Lynch’s “One Up On Wall Street.” It’s old, but I like his focus on simplicity and buying what you know.

“Control Your Cash” by Greg McFarlane and Betty Kincaid is another favorite. This book actually covers all the usual financial topics (credit scores, buying a car and a house, taxes, etc.), but has a couple of chapters on investing and securities. What I like about this book is that it explains investing in a way that I can understand, using a writing style that is funny and still pertains to a wide variety of investors.

Other Blogs and Websites

Bite the Bullet Investing This just-launched blog appears to be created for the investing novice. Posts cover terms such as equity and return and topics like using other people’s money. Great if you’re just starting out.

SEC guide Use this guide to learn how to read financial statements. I think this is a very easy to understand set of terms.

The Oblivious Investor This site is organized well and Mike Piper writes clearly, without a lot of “fluff.” I found his information on index funds to be easy to understand. I haven’t checked out any of his books, but he’s written several on various topics. I think he appeals to a wide variety of investors.

Seeking Alpha This site has been mentioned several times in the comments of various GRS articles, so I thought it was worth checking out. It covers individual stocks and has some great articles. To read the entire article, you must register (though it’s free, I dislike the extra step). If you’re serious, it has a Pro subscription service in addition to the free information. I think there is some great information here, but it’s too advanced for me at this time.

The Motley Fool One of my favorite articles on the site is “13 steps to investing foolishly.” Like Seeking Alpha, they offer a premium subscription service along with their free information. This site has something for a range of investors. (GRS contributor Robert Brokamp is the Fool’s adviser for its Rule Your Retirement service.)

Morningstar has 172 free investment courses. Topics include “Investing for the long run” and “The magic of compounding.” Did I mention they were free?

Guide to Transparent Investing Frankly, I’m overwhelmed reading my own list. But if you pick anything from this list, please read this guide. Published in 2007, this 53-page discusses DIY financial planning, risk tolerance, and how to create a portfolio to minimize the bite of taxes. It explains fundamental concepts well and includes charts. I wish I’d read this guide years ago.

When doing a list like this, it’s so easy to miss lots of great resources. Which ones would you add?

Source: getrichslowly.org

Apache is functioning normally

Real estate has the power to change your life for the better, but it can do so much more than that. Today’s guest, Jen McConnell, used her commissions to fight pediatric cancer, and she later created a foundation to help further the cause. On this podcast, Jen shares how real estate changed her life and has given her the ability to impact the lives of countless others. Jen also covers the advantages of running your own brokerage, ways to deliver five-star customer service, and more.

Listen to today’s show and learn:

  • Jen McConnell’s start in real estate [1:34]
  • What agents learn selling homes for builders [5:31]
  • The Charleston real estate market [6:47]
  • McConnell Real Estate Partners’ sales and team structure [8:04]
  • The advantages of running your own brokerage [13:32]
  • Social media as a tool for real estate agents [15:20]
  • The financial crisis compared to this correction [17:17]
  • About The McConnell Foundation and donating to causes that matter [18:33]
  • Restarting in real estate after major life challenges [22:18]
  • Advice on starting a non-profit foundation [26:53]
  • Advice for agents on giving five-star service to get referrals [27:29]
  • Jen’s favorite CRM: Follow-Up Boss [30:19]
  • The post-closing checklist: When to follow up with buyers [31:13]
  • Transitioning from paid leads to referrals [34:42]
  • Where to find and follow Jen McConnell [36:25]

Jen McConnell

Jen was fortunate enough to start her real estate career when she was a junior in college.  Now with over 17 years of experience in the industry, she has a particular expertise in luxury real estate and custom home building. She moved to Charleston in 2006 after receiving her B.A. in Marketing from Ashland University. In 2022 Jen was awarded the South Carolina Women in Business Award, and chosen as a Top 40 Under 40 Real Estate Agent in Charleston.  Jen has also been featured on Charleston Home Showcase & Lowcountry Live and has been featured in Charleston Real Producers Magazine, Charleston Style & Design Magazine, Southern Living Magazine, The Post & Courier, Charleston City Paper, Charleston Regional Business Journal, Charleston Daily, Greenville Business Journal, Columbia Business Journal and many others. She is a Certified Luxury Home Marketing Specialist through the Institute for Luxury Home Marketing where she has been awarded the prestigious Million Dollar Guild award. Jen has also earned the coveted Realtor of Distinction Award achieving the highest rank possible as a Platinum Award winner through the Charleston Trident Association of Realtors. The Platinum Award places Jen in the Top 2% of agents in Charleston.

Jen is the Co-Founder of King Tide Investment Group and Blue Ocean Investments, both residential real estate investment companies based in Charleston, SC and Greenville, SC respectively. In 2021 Jen and her husband Josh opened their own brokerage on Isle of Palms and formed McConnell Real Estate Partners where she is the broker-in-charge.

Jen met her husband, Josh, in Charleston and was married at Wild Dunes on Isle of Palms in 2010. They now live on Isle of Palms and welcomed their daughter Bennett in 2016 and their son Bodhi in 2017. They have embraced all Charleston has to offer but most especially the outdoor living, the amazing restaurants and long summer days at the beach. The McConnell’s are avid Clemson Tigers, strong supporters of MUSC Children’s Hospital, the South Carolina Aquarium, Pet Helpers Adoption Center and are members of First United Methodist Church on Isle of Palms.

Jen prides herself on being persistent, utilizing her experience to always find the most advantageous terms for her clients, and providing unparalleled professionalism and expertise for her clients in each and every transaction. Whether you’re looking to buy, sell or invest in real estate throughout the Charleston area, Jen would love to share her passion and market knowledge with you.

Related Links and Resources:

Thank You Rockstars!

It might go without saying, but I’m going to say it anyway: We really value listeners like you. We’re constantly working to improve the show, so why not leave us a review? If you love the content and can’t stand the thought of missing the nuggets our Rockstar guests share every week, please subscribe; it’ll get you instant access to our latest episodes and is the best way to support your favorite real estate podcast. Have questions? Suggestions? Want to say hi? Shoot me a message via Twitter, Instagram, Facebook, or Email.

-Aaron Amuchastegui

Source: realestaterockstarsnetwork.com