Eugene Plotkin is the CEO of Tech wallet, a company that helps people use technology to organize their finance. He was born in Russia and later moved to the US. At Tech wallet, Eugene is leading the company’s mission to upend traditional banking and finance through innovative financial technologies. He is also a consultant for fintech startups.
According to Eugene Plotkin, your skills in fantasy football can help boost your stock portfolio in the following ways;
- Play to Win
Your goal in fantasy football should be to win every week. The same should be the case with your stock portfolio. Your goal should be to achieve positive returns every year. Don’t sell your stocks just because you are having a poor three-week period. Some serious investors consider their holdings stocks, not assets, to be traded for short-term profits. It would be best if you aimed to be a serious investor, and you can do it by winning every week as you strive to do in fantasy football.
- Define Your Purpose
Do you need to beat the market right now? What is your desired and realistic outcome in the next year? What are your core values? Do you want to apply these core values in the stock market? It would be best if you defined your purpose of investing; otherwise, all those years of buying stocks will seem like a waste, which can lead to mistakes.
- Never Trade on Emotions
Eugene Plotkin believes that Fantasy sports can help you gauge your emotional response to different situations in the stock market and help improve your trading decisions and performance. Trading on emotion rather than fact is dangerous and can ruin your portfolio. Getting the correct information before trading and having a clear plan for executing your trades is a must.
- Learn From Multiple Experts
Plotkin believes learning from exceptional investors and informatics professionals will help you in fantasy football. Not only will you be able to pinpoint your opponents’ skills, but it will also help in a real stock market. Learning from experts will also help you in the long run, as you will clearly understand what mentors are doing in the stock market. You can then apply their methods to help you boost your chances of winning.
- Don’t Re-Invent the Wheel
Experienced fantasy football veterans will use all the information available to them from various sources like ESPN and Yahoo, as well as various other stats sites. They are not afraid to pay for that info because they know it’s accurate. Apply this same principle in the stock market. Access reliable information, learn how to use it, and apply it.
- Take Advice
Like in all competitive scenarios, having someone to give you advice is very important. Fantasy football veterans are more than happy to share their hard-earned knowledge with other rookies and learn from them. Similarly, having a good stock market mentor is the best way to guide investment decisions. Many experts can help you with sound Advice on improving your portfolio.