6 Tips On How To Become A Millionaire:

A thread 🧵 below 👇🏼

1.  Set financial goals: Identify what you want to achieve financially and create a plan to reach those goals.

2.  Save and invest wisely: Save as much money as you can and invest it in a diverse range of assets, such as stocks, bonds, and real estate, to help it grow over time.

3.  Educate yourself: Learn about personal finance and investing, and seek out guidance from financial advisors or professionals.

4.  Be disciplined: Stick to your financial plan and make smart financial decisions, even when it may be tempting to indulge in short-term pleasures.

5.  Network and seek opportunities: Build relationships with successful people and seek out opportunities to grow your wealth.

6.  Be persistent: Building wealth takes time and may involve setbacks along the way. Stay focused on your goals and be persistent in pursuing them.

That's a wrap. The above thread was written by an AI. To be more specific, copyright OpenAI!

How traders can make money, a quick thread below (I've been around for long) 👇🏼

#nifty #banknifty #sensex #finnifty

• Sell trading calls/tips/alerts - you have to pay for continued access. Using WhatsApp/Telegram/Slack/Newsletter/Twitter (soon maybe)

• Sell indicators (at least they created something) - you either have to pay for continued access or if it's a one-time buy, it will be expensive because it will make life 'easier'.

̐• Sell workshops - you have to pay for 'knowledge', because 'education/knowledge' is power.

• Sell membership / mentorship - you have to pay for 'experience' because 'knowledge' is not enough and 
they're exchanging time for money and you would lose more money if you did it by yourself.

• Sell blueprints / books - you have to pay for this once, but you don't have a 1-to-1 to ask questions/clear doubts.

• Sell community - you have to pay for access to a community/club/mastermind of traders because everyone comes for the (user generate) content, but stays for the community (friends).

• Sell affiliate - you have to pay for something anyways, so allow the trader to make 'small' commission from your referral. Could lead to conflict of interest, if the product is not used personally.

• Sell sponsorship - you don't have to pay anything, because its sponsored/paid advertisement - this is the most conflicted IMHO, but no one cares, because hey it's FREE!

That's a wrap. If I've missed anything, please do comment. Will be great to create an awareness.

https://twitter.com/jpmartin/status/1597458560719663105?s=20&t=WE6vG3DENcATlSDc8zOJJA

How (Some) Traders REALLY make money?

Has the #RBI ever given thought to their forward-looking statements?

#psychology #behaviorialfinance

Thread below:👇🏼

1/ The moment ppl hear that rates are going to be higher or increase over time, those intending to take loans, will be pushed into taking them sooner, pushing prices up further. (mostly applicable to large durables/consumer goods cars/housing)

2/ Sellers/companies also jack up prices.

Make hay while the sun shines, so to speak.

3/ Since inflation is already kicking in, the borrower is thinking that this currency will be worth less, so they decide to go out, purchase and pay with depreciate currency.

4/ And so inflation goes up further. Add to that external factors and you're in a vicious cycle.

5/ Inflation can be affected by currency (USDINR) & OIL, as well as increase in demand, not just reduction in supply.

You can read the unrolled version of this thread here: https://typefully.com/jpmartin/4AnKct2

RBI & Inflation

One of the differences I've seen b/w traders and investors is that they have to believe the story they narrate to themselves.

If they're wrong, it will be too late to correct the course.

Further, they're tied to their narration. So even if they are wrong, they have to justify.

Traders, on the other hand, have the advantage of not being tied to the story, or the company but to the ticker.

They're in it to be rich, and not necessarily right.

A good trader will change direction when things are against them. Cut your losers short & let your winners run.

The challenge however is shifting/balancing b/w the two.

Traders could possibly make more money in the short term, but investors make money in the long term.

#nifty #banknifty #sensex