Ever traded an asset?
There are various ways to turn the tide towards you.
One of the ways is to buy low and sell high. This means, you buy things at lower prices, and sell them when they are high in demand. This is a simple demand and supply knowledge, and you do not need to be an economist for this. But how do you know things are at their lowest price? Well, you need data on the history of the product you selected. For example, you want to trade gold. Gold prices do not change much, except this year there has been a massive change in the gold price. If you had saved some lump of gold for quite a while, this is your lucky year! You can sell high.
Now if you buy today, you could still sell high, but we do not know the future. I am speculating from the fact that China is launching its own cryptocurrency and hence it might be a good signal to hold your gold as China might back up its money by gold, shooting gold prices high up in the air. Always watch out what is happening around the world, because the world is always signaling out stuff. We just need to cut through the noise.
You can also buy more and sell at a lower price to still gain high! This is the game of volumes. Buy a lot of items from the distributors’ end, for example, a laptop or table clocks. This will cost you a lot because of the volume, but the unit price is way cheaper than you would find it in retail shops. So if you know something is in demand, you should buy the bulk of it and flood the market with a reduced price than your small retail competitors. This is the game of volumes.
I’ll post more in my next post.