This is just a quick post about our new client that I had to show you guys, I’ve had permission from them to write about the business, as long as I don’t reveal any financials (obviously.) Anyway, the business is choseaquadcopter.com – They specilise in making drones and quadcopters, as well as writing about the specific advantages and disadvantages associated with each make and model. This is seriously the entrepreneur of the future, which is one of the reasons I wanted to write this post. Most people will look at drones or quadcopters and think – Okay these look cool, I bet they would be great for going to the park, flying around, like the modern day KITE!
But these individuals took their passion one step further, they built a business out of it. This is something everyone can learn from. If you have a passion about something and people tell you “you can’t make money from that.” They are wrong. Straight up wrong nowadays. You can make money from anything now. Youtubers make 6/7 figures a year through providing content for people when they are bored! If they can do this, you can make money from your passion. Just think outside the box.
Hello and welcome to episode 102 in the basic investing tips series. I hope you enjoyed the first one and if you haven’t seen it yet be sure to scroll down or search for it on the site as its pretty awesome (If I do say so myself.)
Today we are going to look at something extremely important for beginner traders and that’s Unit levels. Let’s get started.
What Are “Units”
Units or unit levels are the specific cash amount you place into every trade. For example if I have £100,000 in a forex trading account and place £1,000 in a trade then my unit would be: £1,000. You can make 2 unit plays for stronger leans and 0.5 unit trades for potential investments you are not 100% sure about. But generally you should try to stick to the unit level in which you select. Unit levels vary from person to person but also from channel to channel. If I am making a forex trade then my unit is going to be a lot lower than if I am buying stocks in a company!
How to Calculate a Unit Level
The way I did this was talking to Tom at Eliteforextrading.com (He’s a professional forex trader as you can probably tell) and he put it this way: “Your unit level should be an amount that is greater than “ah doesn’t really matter” money but less than “Okay I need to slow down” – A good place to start for beginners is 1% of your total deposit or bankroll, although if you are confident then you can go up to 2% but never above that for CFD trading. Most professional traders with large accounts make around 0.5% of their account totals per trade.”
Again remember that this is for forex trading and currencies. If you are only using high percentage share trading then having a higher unit is advisable as you will be making fewer trades, probably less than 1 a week in most cases so having a 20% bankroll unit is probably fine, but just select it on what you can afford to lose! Not how much you think you will make!
That’s it for today’s article, if you enjoyed remember to share and subscribe! Thanks for reading!
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Accounting is a growingly difficult and diverse art. Many people including small businesses owners believe that it’s cheaper to simply file their own tax returns and do all of their accounting services using an online software or just manually. This is 100% not the case.
Our team have accounting and finance degrees from some of the most respected Universities in the UK. Many of whom have gone to Bath, Oxford and UCL. So we know what works when it comes to saving you money.
Individuals earning over £100,000 per year. The taxable allowances have decreased. This means if you are earning in excess of £121,000 per year your allowance is £0. This means that you will not be able to reduce your tax bill in the slightest. Individuals earning over £150,000 per year will pay the additional rate which currently stands at 45%! Which is extremely high and one we will help you reduce through the use of smart accounting as well as finding tax deductible costs that you can offset.
We are currently rennovating our website but feel free to contact us and we will be able to help you.