To those of us that have for years watched news channels, seen little letters beside bright red and green numbers and heard crazy jargon about “The DOW/S&P500/NASDAQ lost XYZ points today” and wondered “What the heck does all that mean?!?!?”, welcome to Dollars and Decisions.
Dollars and Decisions is a product of the minds of traders spanning across different ages and ranges of experience. We aim to create a more user-friendly environment for learning, teaching, and experience about charts and other investment jargon while using day-to-day conversation and understandable language. As you continue to follow us, we also will want to follow you as we trade together.
Money is a sensitive subject for most people because of the infinite range of possible financial situations. Rather than attempt to address each situation individually, we want to help you obtain a correct view of your finances and keep your emotional intelligence (EQ) in check.
Consumers are powerfully influenced by their emotions and environmental cues, as well as how options are presented to them. By becoming aware of these biases, we could develop a better pattern of thinking and decision making. On a daily basis, consumers spend billions of dollars for different reasons and make trades on the individual stocks/forex markets/mutual funds etc. based on what they think they know, information they’ve read, past market rises and falls as well as their emotional state, which unfortunately often accounts for the biggest portion of decision making. It is important to determine if you’re spending with your heart or your head at the supermarket and especially when investing and trading.
We at Dollars and Decisions understand the significant role that emotions play in any money venture. Our goal is to empower and enlighten you on the trading and investing processes while strengthening the mental aspect that comes with it, resulting in sculpted minds and habits leading to becoming better and more profitable investors/traders.
Before entering the market I took some time to research topics involving ways we spend our money and controlling that, I was able to discover ways to improve my emotional state by first, figuring out what type of spender I was then secondly, getting a grip on that so that I would begin to practice better financial habits.
Once those two key factors were understood and more in my grasp I was then confident enough to begin my trading and investing education. Like you, I had to start somewhere as they always say, because like many of us earning a salary these days is just simply not enough. So, with all of that said let’s get your mind right first and the next time we talk we may begin to talk about your dollars and decisions.
Grab a pen/pencil and some paper/notebook, write these things down so that you have the information in front of you.