If you’re running a small business of some kind, the chances are you’re pretty good at it and that you already know a whole lot more about your business sphere than you think you do. Undervaluing our knowledge is a common human trait; often, the tendency is to think this stuff is easy and anyone could do it.
The reality is that you’re very probably a niche expert and you know a great deal more about that niche than you understand yourself. It may also be that you can profit from this knowledge in ways that aren’t’ directly linked to your own business.
This is particularly true when it comes to trading on international financial markets. As the legendary investor Peter Lynch says in his excellent book for investing beginners One Up On Wall Street: How To Use What You Already Know To Make Money, it’s all about watching what is often right in front of your eyes.
So if, for example, you’re pretty certain that a particular industry is really beginning to burgeon or that you can’t get hold of stock for love nor money from a particular supplier or that other products are selling like hotcakes, you may be able to profit from this knowledge.
On the other hand, you may be able to profit from knowledge you have in entirely the other direction. You may well be the first person to spot a real downturn in your niche markets and have an overall feeling, based on your observations, that things are beginning to look a little depressed – ahead of the rest of the market.
In both types of cases, you can benefit from your knowledge by trading on it. With trading platforms like Tradefair, you can trade on over 3,000 international markets including stock markets and indices. So, for example, you could go long or short on a particular company or a sector using your own observations and niche knowledge – and hopefully do well from your trades.
Of course, even this level of knowledge brings with it no guarantees. But the point is that you’re probably far better placed than most people and you may be able to spot opportunities where others can’t.
So if you think you have what it takes, give your beliefs a thorough trial first. The Tradefair platform allows you to trial it in demo mode only for 30 days. Thereafter, you can try and build up gradually in your chosen markets as you find your feet and profit from your insight. Just tread carefully and never trade with more than you’re prepared to lose in its entirety. Also – minimise the leverage and use strict stop-losses and you shouldn’t go too far wrong.
It’s perfectly possible to be a successful trader over many years as people like George Soros who supposedly broke the Bank of England could testify. You need an edge on the market – and it may be right in front of your eyes.