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Day Trading Benefits Exceed the Risks

Since COVID-19, most of us have been working from the comfort of our own homes. As we are slowly emerging out of the pandemic, people start returning to the office. For many going back is no longer appealing and they have been looking for other ways to make money. Day trading stocks or crypto is an excellent way to support yourself and can be done from any location. Some risks come with it, but the benefits of day trading could outweigh them if you understand the process.

What is Day Trading?

Trading is the act of buying and selling stocks, cryptocurrencies, ETFs, bonds, etc., to make money. Day trading is when the above shares are bought and sold within the same day. Day traders take advantage of small changes in price throughout the day and buy and sell based on these fluctuations. They must pay attention to the news and the ups and downs of the market to make sure their short-term investment will pay off. Day trading is a great way to make money fast, but knowing the risks and benefits is essential.

What are the Risks?

Any process involving quick thinking and unforeseen circumstances involves risk. Day traders need to understand these risks before going into this practice. If a day trader does not understand the market, then they will not be successful. A person has to have a sound mind and be able to make split-second decisions. If they cannot, then they could lose significant amounts of money from their investments. People engaging in day trading must look out for scams and price fluctuations. If they are unable to do this, then day trading is not the best investment to make. Plus, there is always a chance for drastic changes in the market to happen unexpectedly. Day traders need to be willing to take this chance and understand that they will not succeed if they do not do enough research.

Taking the Chance

Although there certainly are risks, there are many benefits of day trading, as well. The obvious best outcome is making large amounts of money. Once you learn your way around, day trading could be a “get rich quick” situation. Another benefit is the flexibility to work from anywhere. Also, you could work for yourself or get certified and join a brokerage. A day trader makes the decisions of what and when to trade by themselves. This autonomy is empowering and results in higher job satisfaction and fulfillment. As with any stock trading, the risks of a loss are high. A general rule of thumb is to only take risks that you can afford. Starting small, trying out different strategies, learning a lot, and making smart investment decisions could make you quite successful in pursuing this lifestyle.

Read this article to learn how you can get more involved with day trading.

4 Major Factors Affecting the Stock Market

Stocks are representative of ownership equity in an organization. Stocks give shareholders, the people who own them, a residual claim on the organization’s earnings in the form of capital gains and dividends. The stock market is composed of individual and institutional investors to buy and sell shares of public organizations. Investing in the stock market carries risk because there is no guarantee of profiting off of the investments. There are four major factors affecting the stock market. These factors can drive stock prices up and down and ultimately impact one’s investments.

Macroeconomics

One of the main factors affecting the stock market is gross domestic product (GDP). Since GDP is an indicator of growth and contraction, and overall estimates the health of the economy, it can reflect stock prices. If an economy is healthy and growing, organizations are likely to be feeling the same effects. Another factor in macroeconomics is unemployment. If unemployment is high it shows a weak market and if unemployment is low, it shows a strong market.

Politics

Political effects on the stock market are often indirectly caused. Domestic or international turmoil can cause the stock market to go down. The stock market sees uncertainty as risk and therefore political uncertainty has a negative impact on stocks. For example, if a partner in the supply chain is affected by political turmoil, that can drive down the stocks of the affected companies. Corrupt and hostile governments create riskier environments for investors and therefore can drive prices down. However, credible and stable governments can drive stock prices up.

Consumers

Ultimately, all the ups and downs in the market are caused by humans. Consumers decide what products they want to buy and adversely drive that organization’s stock prices up. They also decide what products they don’t want to buy and drive those stock prices down.

The Pandemic

Since the start of the COVID-19 pandemic, user preferences have changed. Organizations that withstood the pandemic have proven to have lasting products or services. For example, the stock prices of video conferencing tools shot up during the pandemic. All meetings and events had to be moved to a digital format and digital conferencing was the answer. It gave people the ability to work together from anywhere. The social climate was able to have an effect on the stock market. During this same time that video conferencing tools stocks went up, stocks were going down for other organizations. As an example, airline companies saw their stocks plummet because of travel restrictions and fear of spreading the coronavirus.

The stock market is one of the riskiest investments a person can make. A lot of things come into play and there are many factors affecting the stock market. Some of those are macroeconomic factors and political factors. Or even factors such as consumers preferences and changes in consumer behavior caused by events such as the COVID-19 pandemic. Most of these factors are stable and will always be present. But one such as the pandemic, could be another type of event such as a natural disaster or a human caused event. However, knowing these factors and being aware of the social dynamic could lead you to making a rewarding investment.

Learn how Simply Flows is a good investment for your organization.

Day Trading Crypto: A Full-Time Job

We hear more and more about trading cryptocurrencies. People have easy access to tools and data, enabling them to try and make money off of this super volatile market. But can someone make a living from day trading cryptocurrencies? Turns out that buying and selling crypto can indeed be a full-time job.

Why Day Trade Crypto?

Many people see day trading crypto as an opportunity to make some extra money to supplement their income. For others it is the primary source of income. Tens of millions of workers were laid off or furloughed during the pandemic, many couldn’t get unemployment benefits and all that put a lot of stress on them. Some people researched the market and began buying and selling crypto to earn an income during this uncertain time.

How to Successfully Day Trade Crypto

When making smart sales, people feel satisfied and empowered. One needs to research the market well to successfully trade crypto. Then, develop strategies based on pricing and trading indicators trends, and also news and social media posts. A person could use trading simulators for training. Also, they can choose from a number of applications to monitor and trade on the market.

Besides this, aspiring traders need to have specific psychological qualities to be successful. They must be self-disciplined, patient, focused, and trustworthy with large amounts of money. There is a lot of mathematics and statistics involved, too. And last but not least, the space is always changing, so traders must enjoy learning – a big portion of their job.

Something else to note is that the crypto market is open 24/7. That could be challenging for one’s work-life balance.

If you want to become a successful day trader, not only do you need to put in the work and understand the crypto market well but equally importantly, you need to posses certain personal traits.

Making this into a Lifestyle

As with any new profession, it takes time to learn it and to make it profitable. Day trading is a business, and you need to have the skills required to perform well. It is essential to select the coin to trade, to have a sound strategy, and to be ok with losses. Learn as much as you can, seek help from experts, rely on the community for advice on tools to use, mark important dates, and follow the news. As with any other occupation nowadays, one needs to be informed, flexible, and to use the right tools to make their work easier and more efficient. And of course, you must have the drive to become successful and to turn crypto day trading into a lifestyle.

If you are a crypto day trader, our product may be helpful for gathering and analyzing data.

How Technology Has Transformed Business Today

Business itself and organizations are always changing and undergoing growth periods. One of the biggest catalysts for change is technology. There are many ways in which technology transforms business. Technology in business can be used to communicate with customers, make operations more efficient, implement security, and enhance research capacity, as well as many other functions. Organizations of any size, big and small, can use technology to benefit them both in tangible and intangible ways. Overall, technology has the ability to transform business and organizations.

Technology Transforming Business

A huge benefit of technology is that it has the ability to collect and store tons of data. For example, organizations collect information about consumer behavior, so they can improve the customer experience. They track trends, customer buying habits, and other contextual information. With technology, organizations scan further segments and target their customers based on their individual interest and buying behaviors. Technology makes organizations more powerful because the more data an organization has the more of an advantage they have in the market.

Technology over the years has been able to transform how we interact with organizations. The most significant evolution happened when mobile applications became available. Most people have an internet-connected device nowadays. People use their smartphones to browse a website, to shop at an online store, or to communicate with the organization’s help center. Apps are the main point of contact and engagement between customers and organizations. Therefore, organizations need to further think about how mobile applications can fit in their engagement strategy.

Automation Propelling Digital Transformation

Lastly, the biggest change that technology has on business is automation. Systems are being built for machine learning and predictive analysis. Many complex algorithms are available to complete tasks in a fraction of the time human workers perform them. Automation has the ability to improve productivity and efficiency tremendously.

Technology adoption has been growing and improving businesses in each and every industry. Technology transforms business for the better, and it will continue to enable organizations to realize savings, improve performance, and better serve their customers.

Learn more about how Simply Flows can transform your business.

Which of Bain’s 30 Elements of Value are Important to your Customers?

Companies can succeed in many different ways. However, increasing the perceived value of their products and services is by far the most impactful tool they can utilize. Bain’s 30 Elements of Value introduce fundamental attributes companies can choose from, combine, and deliver into their offerings. The right combination of values results in stronger customer satisfaction and loyalty. Furthermore, delivering more value accounts for a steady revenue growth, according to the research.

What are the 30 Elements of Value?

The authors of the model have combined three decades of experience doing consumer research at Bain & Company to identify 30 elements of value. Their model extends Maslow’s ‘hierarchy of needs’. They have arranged the elements into a pyramid: ‘functional’ at the bottom, ’emotional’, then ‘life changing’, and ‘social impact’ at the top.

Some functional elements are: ‘saves time’, ‘makes money’, ‘simplifies’, ‘reduces risk’, ‘connects’, ‘reduces effort’, ‘quality’, ‘reduces cost’.
Examples of emotional elements are: ‘reduces anxiety’, ‘rewards me’, ‘nostalgia’, ‘provides access’, ‘fun/entertainment’, ‘wellness’.
Life changing attributes are: ‘motivation’, ‘provides hope’, ‘affiliation and belonging’, ‘heirloom’.
‘Self-transcendence’ is the only element at the top of the pyramid.

The attributes have different relevance depending on demographics, culture, and industry. For example, people value cost, variety, quality, and rewards when grocery shopping. At the same time, they appreciate reduced anxiety when buying an auto insurance.

How to Choose the Right Element(s)?

To decide on the right combination of elements, businesses may try to figure out which ones are the most important. Should they aim at the ones at the top more so than the elements at the bottom? Could they be successful by focusing on the functional elements only? Bain’s research answers these questions.

It turns out that perceived quality matters the most. Even more surprisingly, no other elements can compensate the lack of quality. After ‘quality’, the next most significant attributes depend on industry. For example, ‘variety’ is second for grocery and apparel retail, while ‘provides access’ is the second most important for consumer banking.

Another interesting finding is that customers believe they receive more value from digital than brick-and-mortar businesses.

Which Values to Focus On?

Start by looking at the elements important to your industry. Then evaluate your performance on those attributes relative to your competitors. If you find a weakness, that is the element to focus on first.

Next, consider adding a new element, aligned with your brand and capabilities. Adding value has a huge revenue growth potential.

Last but not least, ensure that leadership is well aligned with the values the business delivers. A leader from the organization should be appointed to monitor and holistically manage the elements of value crucial to the company success.

Explore more of the Bain’s Elements of Value via their interactive graphic here.

Learn how Simply Flows brings important elements of value to life.

Artificial Intelligence: Can it be trusted?

Artificial Intelligence is something new and exciting entering the market. The idea of machines doing human work has always been a thought of the future that is now becoming an ever-growing reality. However, can we really trust this process? Complete privacy is a thing of the past, but this has become an even larger concern with the growth of AI. AI-enabled technology is expanding rapidly, but we know very little about the risks and ethical implications it introduces.

Entering into a Zero-Trust World

Companies are adapting to new AI technologies, but this is not without risks. The adoption of AI has led to more security breaches, leaking of information, and the creation of deepfakes. An altered video or image of a person is a deepfake. They are used to get information or for other harmful means. These issues are major ethical problems within the workplace that could cause a rise in distrust and other concerns. For example, AI could easily manufacture people’s images and voices just through hearing or seeing. Someone with malicious intent could enter into their computer systems and steal private information. That could cost companies millions of dollars. Since AI is becoming readily available, ethical people should be using those algorithms. If not, then there could be negative implications. By maintaining the mindset of being in a zero-trust world, people could be more cautious. But sometimes deepfakes are still undetectable. AI is powerful and sometimes we can disregard its content as truthful.

Companies can Fight Back

AI is not all bad. There are ways we can manage risk within the workplace. If a company sets forth proper guidelines and training classes on working with AI properly, this could prevent issues. New technology should be implemented, such as a three-layered security approach and new privacy-preserving techniques. AI can be harmful in the wrong hands, but by itself, it is just a computer code. If people within a company understand the risk of AI and are okay with it, this is a good starting point. No one wants to be caught off guard, so being open and discussing AI can put people at ease, even knowing that there is a risk that comes with its algorithms. Companies can fight back against these AI issues through increased security and understanding within the workplace.

Is it Worth the Risk?

Yes, it surely is. AI may be a new concept, but if organizations adequately train people on how to use it and detect fraud/scams, then why not implement it into a company. Technology is continuously improving, and if you are not moving forward, then you’re going to go out of business. People should still focus on the idea of living in a zero-trust world to remain cautious. However, Artificial Intelligence is not going anywhere and is overall worth the risk.

Learn how Simply Flows utilizes AI in a safe way to help you be more productive.

Process Automation and the Evolution of Superjobs

Over the past few years, we have seen technology grow at an exponential rate. So has process automation – including Artificial Intelligence (AI), cognitive technologies and Robotic Process Automation (RPA). AI, cognitive technologies, and RPA are growing at 20% per year. This type of software is meant to automate manual tasks. Ultimately, that takes away menial and repetitive tasks that occur in the workplace. These automations would take over routine work and would give certain jobs new roles.

As automation takes over repetitive tasks, there will need to be a change in job roles and descriptions. Since people would no longer be working on mundane tasks, their contribution inside the organization is going to increase. Process automation is causing a lot of organizations to reimagine job roles and redesign how we work. Organizations want job roles to result in more productivity, more contribution, and have more skill involved in the work that employees are tasked with.

Rise in Superjobs

With job roles changing to require more skills and contribution, the so called superjob will emerge. Superjobs require technical and soft skills, as well as parts of certain traditional jobs. These superjobs result in significant productivity and efficiency gains for the organization. Those gains are a direct result of working with automation software.

Even though process automation is on the rise and it is something to run into and not away from, organizations are still showing levels of uncertainty and fear. Most organizations wouldn’t even say that they are ready or prepared to even address the impact of these new automation technologies. However, organizations should look at automation as something to take advantage of and be excited for.

Overall, it’s not about replacing work with machines, it’s about adjusting the workforce to use it to our advantage and how it allows us to learn and do more by doing less.

Learn how Simply Flows can help you transform your organization.

Read about RPA and why it is the future.

Why Digital Startups had an Upper Hand

Insights from Statista’s Digital Economy Compass 2020

Moving to a Digital Setting

Before COVID-19, the world was slowly adapting to a more digital environment. However, most companies still neglected their digital marketing strategies. Many organizations focused solely on promoting the in-person experience and did not try to improve their online business. When COVID-19 hit, companies that did not have a well-developed digital marketing strategy were ill-prepared for this drastic change, and many struggled to keep up. However, internet-based companies benefitted from this change. Even more interesting to note is that digital startups performed very well in this new environment. The pandemic exacerbated the digital transformation, thus creating opportunities for digital startups to be successful right from the start.

Startups Stronger During the Pandemic

It’s not easy for a startup when it first enters the market, and a global pandemic never helps. This was not the case for digital startups. According to Statista’s “Digital Economy Compass,” many startups, such as gaming, blockchain and crypto, and social media, to name a few, did not suffer when they entered the market. In fact, there was only a -14% change in revenue for blockchain and crypto companies, while companies in traditional industries had a loss of income between -39% to -70%. Being a startup in the digital economy during the pandemic did not severely harm revenues. Companies would more than likely become more profitable over a short span of time.

Remaining Digital

We were all looking for new things to do once the pandemic hit. Due to the lockdowns, we turned to the digital environment for everything. Work, learning, shopping, entertainment–all switched to being done online almost overnight. The pandemic fast-forwarded the inevitable future. Now, these digital companies need to keep up with their strategy to be even more profitable. We will continue to go online for most of our needs, and businesses need to stay competitive. The startups which were born digital, navigate the digital economy much easier and that is giving them the upper hand. If these organizations can continue adapting to the ever-changing environment, they will not only hold their standing in the market but outperform their peers.

Learn more about Simply Flows, a startup that entered into the digital economy during the pandemic.

Simply Flows among the ‘Startups to Watch in 2021’

Excited news! Simply Flows has been featured as one of the 15 startups to watch in 2021! Startup Grind has selected us among the companies accelerating and making an impact in their industries.

We are grateful and honored by this recognition! Startup Grind is a global community helping founders to realize their dreams. They provide various learning opportunities at conferences and summits. Also, they pair founders with mentors, assist in finding co-founders or other team members. Furthermore, they facilitate introductions to investors and networking opportunities. They hold various other local and global events throughout the year. It has been a pleasure to be part of such an active and helpful community of like-minded ‘grinders’. Therefore, we are super delighted to participate in their Accelerate Program. According to Startup Grind, the program showcases ‘a carefully curated collection of startups that are working tirelessly to reimagine the world around us.’

‘Simply Flows is the streamlining platform that will transform your business. This no-code, secure cloud platform connects applications, automates labor-intensive tasks, and is entirely self-service to make your day easier. Manual data processing is a thing of the past, and with their flow technology, errors are eliminated altogether. Simply Flows makes life easier, and with their instant notifications, it’s sure to change the way you do business.’

Read more about the 15 startups to watch in 2021 here.

We are so excited for this opportunity. That is why the date of the summit, 9/15/2021, cannot come soon enough!

Sign up today to try Simply Flows out!

Time wasted on repetitive tasks is over 40 percent!

A study found that the time wasted on repetitive tasks that could be automated is over 40 percent. Most of those are mundane tasks like data entry, copy-pasting from one application to another, and reporting. Half of them believe that is a poor use of their skills and getting in the way of doing their main job.

Automation Anywhere performed a global study in the fall of 2019. The research included data from 10,500 interviews with office workers from 11 countries around the world.

What were the top takeaways from the research?

Knowledge workers waste over 40% of their time on manual digital administrative processes.
Data entry is the most detested manual task.
Over 75% believe spending time on tasks that could be automated is a poor use of their skills.

The most detested manual tasks?

Data entry
Email
Filing documents
Compiling reports
Managing invoices

Time wasted on repetitive tasks is over 40 percent

Organizations need to take action. Indeed, 87% of the surveyed office workers believe their company should take action to automate mundane processes. 85% find a company investing in automation more attractive. And more than half, 55%, would leave their current employer if the burden of manual work becomes too high.

Not surprisingly, women spend more time on manual administrative tasks – 3.4 hours, compared to 2.8 hours for men.

To conclude, the time wasted on repetitive tasks is over 40%. That hurts employees’ job satisfaction and morale. For employers, that means wasting money, losing high-skilled people, and missing on opportunities to grow and innovate.

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