Secret Academy Episode - Rizwan MemonAbout:
Like many others, Rizwan Memon looked up to his father for inspiration and guidance, and his father always encouraged him to do everything to the best of his ability. He comes from a long line of entrepreneurs so from a young age, he was focused on putting his money towards stock trading instead of buying the trendiest clothes that most young people are concerned with. Rizwan put 100% of his energy into learning everything there was to learn about trading in the stock market, and all of his hard work paid off when he was able to start his own consulting business. His business, Riz International, offers stock market and investment mentoring, personal financial consulting, and business management consulting.
Lesson's in Today's Interview:
- The differences between penny stocks and long-term stocks
- Why he thinks buying/selling stocks based on text messages from someone isn't the best idea
- If you're able to do things on your own merit, then you're much more successful versus taking tips from someone else
- To invest in long-term stocks, you need starting capital and the ability to pay commission fees
- Three important keys to being a successful trader
- You have to be able to ride out the ups and downs, and don't check your accounts too often
- Fear has the ability to push you to the wrong direction
- What is a good starting point to test the waters with trading, and what is a decent annualization percentage to aim for
- What is Forex and why he thinks it's not really worth the time and effort
- You need to figure out exactly what you want, be hungry to grow your knowledge and skills, work hard, do your research, and stick to your guns
Full Episode, Downloadable Podcast, and Other Episode Resources Available for Members Only:
