How to Survive a Financial Crisis
- Oct 15, 2020
- 2 min read
Updated: Oct 16, 2020
Written by: Sukanya Datta, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
Hello and a big welcome to all people around the world. As we might have noticed, varied things have taken place with respect to the pandemic. Business were shut down suddenly, some offices got closed forever, millions lost jobs, and thousands of employees faced salary cuts. Overall, unemployment increased and a slowdown occurred. We also saw a heavy crash down on the stock market.
Many must have thought that this would be shattering their dreams. But this is not the truth! When one door closes, the other opens. Things can get quite complicated and overwhelming for most, especially entrepreneurs. Finance is the most important characteristic to look in to before positioning oneself in the world of pioneer dom. Here are a few tips and secrets on how one can remain stable irrespective of the external environment.
Trading
This is a very lucrative option to grow money. Beware! You can also lose a lot if you don’t play around this well. There are various trades offered worldwide. They are cryptocurrency, corporate shares (stock), mutual funds, forex, options, bonds and futures. Before you delve into any of these, make sure you do extensive research. Gather all the information through news channels and authorized websites. The most important question that you should be asking yourself is about the kind of investment and profit you want.
“Long term investment or short term investment with immediate profit”.
It is not necessary to be in to full-time trading to make huge gains. In fact, passive trading is also worthwhile. Many might consider taking smaller gains and slowly progressing rather than waiting on a long term basis. Whereas long term profits might The most important aspect is technical analysis that most people tend to ignore. Thorough research needs to be done. Many are afraid of entering trading due to this reason. As I always say, nobody needs to be a mathematician in order to learn this. Letting go of the fear and be able to break free from the apprehensions is highly needed.
A few extra tips to consider…
👉 Allocate funds wisely. Diversify it in to various industries. Invest more on dividend receiving stock.
👉 Apply the Fibonacci series to analyze the graph pattern for certain markets. Create check points to inspect for bearish (buy) and bullish points (sell).
👉 Having a trading plan. Casual trading may not bring the profits you desire.
👉 Being risk averse. The money that you are willing to risk on a given trade needs to be determined. The risk to reward ratio is a way of accessing lower risks and higher profits.
Make and raise money yourself!!
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Sukanya Datta, Executive Contributor Brainz Magazine
Sukanya Datta is an electrical engineer. Along with the tech side, she is also a certified fashion designer. Being a tech lover, she have had a penchant for creativity. Entrepreneurship is a big journey and both tech and fashion have been a boon in her life. From developing monetary strategies and embark on the body positivity mission across the world and bridging the gap between women and fashion.
