Page 5 - Trading #101 Course – Part THREE: SETTING UP YOUR BUSINESS – www.traderscoach.com

TRADING #101 COURSE – PART THREE: SETTING UP YOUR BUSINESS – WWW.TRADERSCOACH.COM

handle your portfolio. Continue to evaluate performance every quarter to keep a close
eye on the markets, your adviser, and the status of your financial health.

So, Who Are You Going to Trust?

So, in the end without a doubt the best person for you to trust is yourself. That is
because you know your needs and goals better than anyone else, you will always have
your best interests at heart, and you have the most at stake.

If you agree with me on this, then it makes sense for you to educate yourself so that you
know enough to choose a truly talented financial adviser and to supervise and police
that adviser.

Or you may decide to create your own business plan and in effect hire yourself as a
financial adviser so that you can fulfill your own financial goals. You can even use
various asset allocation models that are available on the Internet or through the
American Association of Individual Investors (AAII) http://www.aaii.com/ to determine
how you should structure your portfolio.

Generally, if you have a large portfolio, it is best to hire a talented and fully vetted
adviser and put that professional to work for you. Have the adviser do a complete
analysis on how far you’ve come, where you are now, and where you want to go.

Adding a talented adviser to your team can pay you dividends in the end. The key to
increasing those dividends is to participate in the process completely. Don’t just blindly
hand over your cash and expect miracles; the more you know, the more you will
prosper. The course you are studying now will help you to manage your adviser and
participate to maximize your annual yield.

If you’ve got a smaller portfolio, you should manage everything yourself so that you are
not spending fees on advisers. Use your own skills to grow that portfolio and grow your
net worth. The knowledge you gain in the building phase will serve you well when it
comes time to bring in an adviser as part of your team.

Keep it lean and mean; watch expenses and find out what works for you and your
circumstances and what does not. The trial-and-error phase of your development will
help you refine your personal business model.

Creating Your Own Business Plan Will

Strengthen Your Ability to Prosper

With the understanding that you are the most qualified person to trust when managing
your finances, you will want to begin thinking about developing a personal business

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