4 Ways to Both Make and Lose Money with Technology

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Technology is a terrible, wonderful thing. It can take you from rags to riches or from riches to rags at the speed of your Internet connection. When it comes right down to it, it is not the technology that makes princes or paupers. It is always the people and how they use the technology. That said, the technology does democratize the playing field quite a bit so that anyone can use the tech to strike it rich or go stone cold broke.

Technology has always been a part of the inner workings of the market. Faster data lines mean faster trades. A person could make or lose a fortune much faster than the blink of an eye just because of a single, dropped packet from one’s ISP. Trading is still a game for humans. But those who deploy better tech will outplay humans without the latest and fastest tech.

The Market

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When done right, working the market is not gambling; it’s investing. Investing is always a good thing. You just have to choose the right investment at the right time. If you want to make money in the market using technology, you need to always be finding stock resources that will keep you up to date with the latest information relevant to your trades. Working the market is all about using information. You can’t use the latest information if you don’t have it.

There are many ways to go broke in the stock market. One of the most common rookie mistakes is just going with your instincts instead of utilizing well-sourced data from reputable sources. That kind of emotional play can lead you to putting all your money into a single stock that you really feel good about. It’s best to find specialized resources for each type of investment and avoid the “general” news sites like Forbes, Fox, and CNN.

For example, if you are looking to invest in heavy metals you should click here to read WallStNow’s mining stock resources. Likewise, you should find auto sites like Road & Track or even Jalopnik when you’re considering investing in EV stocks like Tesla or Rivian. When emotion takes control, it can also lead you to double down on your errors by throwing good money after bad. Technology is not to blame for your losses. But it can certainly help to accelerate them.

Online Gambling

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The first rule of gambling is that the house always wins. The first rule of online gambling is that the house always wins even faster. Gambling is not investing nor is it a good strategy for getting yourself out of financial trouble. There is a booming world of online betting sites. The reason these sites are proliferating is because they know they can make a lot of money off of people like you. Always factor that into your bets.

That said, Disneyland also exists because they know they can make a lot of money off of you. Have you seen the prices of Baby Yoda dolls? Any money you put into online gambling can be well spent as long as it is a part of your entertainment budget and not your investment portfolio. Sports betting is fun… until it isn’t. So keep your emotions in check and your entertainment budget in view. And always bet on black.

Retail and Mobile Sales

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Small retailers can take advantage of the online marketplace in a way that helps to level the playing field with the big dogs. One of the big boosts to small retailers was the ability to take credit and debit cards right from a Smartphone they already had. That was once the sole purview of big business. There are few downsides to embracing technology in retail.

Blogging

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If you have some skill making words, learn how to make extra money blogging. There are very few initial expenditures. That means there are not many ways to lose money doing it. Be careful not to buy into huge advertising campaigns at the beginning. That is one of the few ways you could lose your shirt. As you grow your audience, you grow your ability to monetize your work.

A good blogger is not just a good writer. They know whom their audience is and how to reach them. Even if you are not selling a product, you need all the skills salespeople utilize in their trade. For many bloggers, being able to write for a target audience they are familiar with is a dream come true. It’s not only that they are able to share their knowledge, they also have an insider-view of the pains, goals, hopes, and aspirations of their readers.

To be an exceptional blogger, stay in touch with new developments in technology, investing, and trends. By being in touch with news, influencers, and legislative changes, you can help your audience keep their finger on the pulse of changes in their world.

Attention is a commodity. This is where a blogger can excel by speaking directly to the highest core values for their target market. Many bloggers are steeped in their content, engaged in online forums, and are tuned in to their audiences with an uncommon precision. When you know what is really driving decision-making, you are in a strong position to speak in a way that is unique and compelling. You can share your opinions, insights, and expertise with your market. To command attention, you have to compete and win.

The best way to stand out in a crowded marketplace is to deeply know what matters most to your audience and speak directly to their core values. This will make your blog shine above everything else out there vying for the attention of your audience. Do that, and you will do just fine.

Final Thoughts

Technology is neither friend nor foe. It is a tool. Like any other tool, it can be used to help or harm your cause. Whether it is the stock market, or online gambling, or retail, or blogging, there are ways to use it to your advantage.

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