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A Look at Companion Planting

2/14/2024

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​Companion planting describes growing different plant species close to each other for the benefit of one or both plants. In vegetable gardens, gardeners can add flowers, herbs, or other vegetable types, and this approach is advantageous in several ways. First, combining a variety of plants can attract helpful insects and pollinators, since such combinations yield different types of flowers that appeal to a range of organisms.

Some plants, such as garlic, deter pests and repel destructive insects in the garden. Additionally, companion planting improves soil fertility since different plant species utilize different nutrients, mitigating the exhaustion of the soil. Gardeners can also choose nitrogen-fixing crops, such as legumes, to enrich the soil. Tall plants, such as corn, can provide shade in the garden while ground-dwelling species, such as pumpkins, can cover the base of vegetables to suppress weed growth.

The three-sisters approach is a popular example of companion planting, where gardeners combine corn, pole beans, and squash. In such an arrangement, corn provides support to the beans’ stems, the pole beans fix nitrogen into the soil, and squash covers the ground to retain moisture and suppress weeds. To optimize the garden’s productivity, it is advisable to combine plants with different water, space, and nutrient needs, and those that are not vulnerable to the same diseases.

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How to Implement an Effective Family Business Governance Strategy

10/10/2023

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​Family businesses are a vital cornerstone of the United States economy, substantially contributing to its growth and stability. Often absorbed in rich tradition and historical significance, these enterprises encounter distinctive hurdles stemming from the intricate web of family dynamics. To overcome these challenges and secure enduring prosperity, the implementation of robust family business governance emerges as a paramount necessity.

Family business governance is a structured and systematic approach to managing a family-owned business. It is a set of processes, rules, and guidelines to address the specific challenges that family businesses encounter.

When starting a family business, the founders can involve their children and give them various roles based on personal interests or relationships with business founders. With time, this may lead to conflicts, especially if a family member lacks the skills or qualifications for their role. However, setting up the proper governance structure early enough would help avoid problems in the future running of the business.

Effective governance ensures smooth operations, fosters family cohesion, and safeguards the business's future. This is because as the business grows and more people are involved, potential conflicts and complexities can arise and affect the business's success.

The family business founders must consider various principles to help sustain the business for future generations. First, a family constitution with clear values and objectives must be created. A family constitution is a foundational document that outlines the family's values, vision, and objectives concerning the business. It helps create a shared understanding among family members, ensuring everyone is aligned with the business's purpose and direction. This document serves as a compass for decision-making and conflict resolution within the family business.

The business can also establish a family council for dispute resolution and harmony. A family council is a formal body within the governance structure that serves as a forum for family members to discuss business matters, resolve conflicts, and preserve family values. It promotes open communication, unity, and harmony among family members, ensuring personal disputes do not negatively impact the business.

Another important consideration is establishing a board of directors. The board of directors contributes significantly to the governance of family businesses. Ideally, It should comprise family members, independent directors, and non-family executives. This diversity of perspectives and skills allows the business to tap into a wide range of expertise within the family and from external sources. Independent directors can provide impartial guidance, while non-family executives can bring fresh insights and professional management practices.

Shareholder agreements for ownership clarity is another crucial consideration. These documents clarify the ownership structure of the business. They outline provisions for share transfers, dividend policies, and the rights and responsibilities of shareholders. These agreements help prevent disputes over ownership and ensure a smooth transition of shares when necessary.

With time, as the business founders grow older, they must also consider succession planning for continuity. Succession planning is a critical aspect of family business governance. It involves recognizing and developing the next generation of leaders within the family. This process ensures a clear plan for a leadership transition, minimizing the risk of a leadership vacuum and maintaining business stability during times of change.

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An Overview of Commercial Real Estate Development

9/12/2023

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​Commercial real estate development involves building retail centers, industrial facilities, office buildings, and other commercial investments or adjusting existing ones to meet market needs. Developers help property owners boost the value of their property by ensuring it remains attractive to the evolving needs of target users.

Companies, banks, institutions, and other for-profit organizations that prefer long contracts usually rent commercial property. The return on investment (ROI) for commercial real estate is typically higher than for residential property. Most commercial space renters run profit-generating operations, meaning they can afford to pay higher rent.

Commercial real estate development requires significantly higher capital investments than residential property development. Commercial property financing is also more expensive than residential property loans.

The first step in commercial real estate development is predevelopment, involving a thorough project analysis. Developers conduct market and feasibility studies to understand the needs of the target market, the proposed development, and opportunities for exploitation. Developers also help clients identify, acquire, and vet properties. Before suggesting a property, developers consider the traffic around the site, the topography, and the accessibility. They review the infrastructure available, the demand for commercial property, and the zoning and land use guidelines. These factors indicate the suitability of the project and how it will perform.

Moreover, in the predevelopment phase, property developers oversee environmental impact assessments, site plans, and building plans. They also discuss and arrange financing and apply for permits. The relevant authorities evaluate building plans to ensure the project's safety and compliance with the building codes.

The next phase is construction, which includes monitoring the progress to mitigate budget and time overruns and assessing the standard of work to avert compliance issues and other interruptions. As the property nears completion, developers assess safety, devise marketing plans, discuss pre-lease agreements, and identify property managers. The project receives a certificate of occupancy after meeting safety standards.

The last step in real estate development is operation, in which developers and owners lease or put the property up for sale. Developers sometimes help owners find lessees for their properties and build a reliable source of income. Having several tenants under pre-lease agreements during the construction phase helps ensure the project will cover its operational costs early on.

Those interested in commercial real estate development can choose between direct investments or investing in real estate investment trusts (REITs). Direct investment requires significant capital and in-depth industry knowledge. These owners can enjoy a high return on investment (ROI) and retain control over the asset. However, the owners assume responsibilities, such as property maintenance, managing tenants, and complying with legal and regulatory requirements.

REITs, on the other hand, offer a hands-free approach to commercial real estate development. A trusted third-party sets up the trust and pools resources from various interested parties. The finances are used in purchasing and developing the property, and in return, the owners receive dividends after tenants rent spaces. The company setting up the trust retains the responsibilities of advertising vacancies, interviewing tenants, overseeing maintenance, and meeting legal and regulatory requirements.

REITs are required by law and IRS regulations to pay out at least 90 percent of their profits to the shareholders, meaning investors can enjoy a reliable source of income. Shareholders can also invest in multiple REITs to diversify their portfolios. Notably, these investment vehicles are highly liquid since they are publicly traded on the stock market. This means that owners can sell their investments easily and at any time. Those who retain ownership long term have the potential to enjoy capital appreciation as well as profits earned from leasing operations.

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How to Maximize Spending Per Guest in Your Trampoline Park

7/7/2023

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​The trampoline park is one of the fastest-growing segments of indoor entertainment in the United States. Competition is fierce; park owners must go above and beyond to stay in business. Consequently, trampoline parks are getting creative, expanding the range of offerings to enhance guest experience and maximize spend per visitor.

If you own a trampoline park and want to improve guest experience, prioritize safety. No matter how beautiful and accessible your trampoline park is, it will soon be empty if unsafe. Start by installing safe, durable equipment. Professional equipment, well-trained supervisors, and rules should ensure your guests' safety and protect your brand.

Aesthetics matter. In the age of social media, park-goers want to share their latest, trendiest check-ins. Making your park attractive pays. When equipping your park, see that each piece of equipment aligns with your park's overall theme. This encourages your visitors to take and share photos on social media, which gives you free exposure.

As you design and equip your park, remember that trampolining is not only for kids. Widen your customer base by offering engaging activities for people of all ages. For example, your park could provide exercise classes for adults. Bouncercise is becoming increasingly popular because it offers all the cardiovascular benefits of exercise in a fun way.

Maximizing the value per visitor means keeping them in the park longer. To do that, consider offering refreshments. Serving refreshments in branded cups or bottles may help with marketing since customers can use them outside the park.

A 2017 study revealed that consumers prefer self-service technology to human interaction if it enhances their overall experience with a brand. Having a self-service kiosk reduces overhead while improving customer experience. For example, consider having online checkouts. For instance, online slot booking is handy during peak season, as it eliminates the inconveniences of queuing.

Remember that great customer experience starts at the first point of contact between your customers and your brand and continues throughout all the customer touchpoints. So, ensure you're giving your best at every point of contact. For instance, if you have an online checkout system, be sure it's responsive and has all the vital information a customer may need.

Once they've booked, emailing the customer can go a long way. You may also send a follow-up email to your customers requesting feedback on their experience. Surveys and feedback emails can be revealing. They shed light on how to enhance customer experience further.

At the park, how the staff handles visitors determines how your guests feel about your brand. Staff that cares is helpful and never hesitates to provide quick resolutions to leave a positive impression on guests. As such, be sure your staff is well-trained in interacting with customers and resolving issues as they emerge. Also, ensure the park is clean, tidy, and well-lit, with adequate signage to guide guests.

Great customer experience is part of the deal your customers are paying for. Enhancing customer experience is a win-win move. The more interesting activities your park offers, the bigger the impression it leaves on guests; the more people it attracts and retains, and the longer guests stay.

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How to Maximize the Revenue of Your Trampoline Park Business

6/15/2023

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​The trampoline park business is a capital-intensive venture with ongoing expenses. But it can also be a high-profit margin business if well executed. As such, you must find ways to maximize your revenue and increase your profits. The subscription-based model is one of the most reliable ways of pulling predictable revenue.

Membership-based models can be great revenue raisers. This is where customers subscribe monthly or yearly. In addition to generating recurring and predictable revenue, they build a loyal customer base. Subscribers also tend to visit your venue more often, meaning they’ll be purchasing food and drinks or additional activities.

You also need to broaden your customer base. You position yourself as the go-to family entertainment center by targeting a wider audience. As such, you may design and install various age-appropriate equipment and activities or programs.

Within each age group are different sub-markets. For instance, some children aged 10 to 13 may prefer mentally stimulating games and activities, while others want physically demanding activities. Still, some parents may be sports lovers and would instead work out than play passive games.

Offering group deals can be great to cast your net wide and attract more audience. To attract partygoers, for instance, consider offering special deals such as birthday party packages like discounted foods and drinks or free decoration. More people at your park means more sales and more people to impress, so they choose you over your competition.

It’s not enough to have diverse, great offerings; it helps when your staff can sell them. So, you may want to train your staff to upsell and cross-sell visitors.

Upselling is when a customer who is purchasing, say, a regular ticket is given a chance to buy a VIP experience at a discounted price. Cross-selling, on the other hand, involves offering customers complementary add-ons to their initial purchases. These strategies are proven ways to increase spend per customer. So it helps if your staff is well-trained in identifying customers who may want to be upsold or cross-sold.

Additionally, place eye-catching items by the checking area to boost impulse purchases. Kids are especially susceptible to such things, and by positioning them right, you are more likely to make them want to get them. The trick, however, is for such items to be high-profit margins.

Another great way to boost revenue is to organize promotions around key events. Offering guests special deals, such as costumes for rent at discounted prices, can be a great way to attract more visitors.

When designing and planning your trampoline park think about how to maximize revenue. The key to running a profitable business is to ensure you’re making more money than you’re spending. Reducing expenses is just as good a strategy as maximizing profits.

Some expenses, such as employee overhead costs and repairs, are inescapable. However, you can reduce overhead costs by automating checkouts and bookings. You may also hire staff on a part-time basis. Additionally, you can reduce the cost of repairs by installing quality equipment, thus reducing repair costs.

Trampoline parks used to be small and simple. Today, a trampoline park can host several different types of entertainment activities. To remain relevant and profitable, always be on the lookout for how to diversify your offerings, offer your guests a great experience, and maximize spend per visitor.

Zi Qian Zhang, Real Estate

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Signature Basketball Moves to Improve Court Skills

5/31/2023

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​Like other sports, basketball requires a combination of skills beyond just raw athleticism and physical conditioning to become a great player. Some of the greatest basketball players have shown excellent mental acuity and technical skills on the court and invented iconic moves that have revolutionized the sport. Mastering the signature moves below can help players improve their court skills.

Magic Johnson's no-look pass, where he delivers the ball to a teammate without looking at them while at full-speed attack, is a great signature move that has captured the imaginations of many over the years. These passes require style, precision, and a deep understanding of teammates' positions or movements on the court. Practicing and mastering these passes can help players become better playmakers and make the game fun.

The crossover dribble by Allen Iverson and Tim Hardaway is another signature basketball move that most players embrace today. It involves a player switching the ball from one hand to another while dribbling, usually when approaching defenders. The crossover dribble helps players deceive defenders by quickly changing direction to get past them and to pass the ball to an open teammate or score.

The Dream Shake, made famous by NBA player Hakeem Olajuwon is a signature basketball move where an offensive player executes a series of fakes (in different directions) and spin moves while facing away from the basket to deceive defenders and create space for scoring. Although challenging to learn, mastering this move can make it difficult for defenders to stop.

The fadeaway, a signature move popularized by basketball greats Michael Jordan, Wilt Chamberlain, and Dirk Nowitzki, involves a player jumping away from defenders while shooting. The move aims to create space for a clear shot at the basket. This move has been particularly effective for players like Nowitzki, who may not be as athletic or fast but can rely on their height to get a scoring opportunity. Today, mastering the fadeaway can be a valuable weapon for basketball players, especially tall ones.

Kareem Abdul-Jabbar's skyhook is another iconic basketball move similar to the fadeaway but distinctly different. Unlike the fadeaway, players shoot the ball with one arm extended and raised high above the defenders, making it nearly impossible for them to block. Kareem's success with this move was due to his height, passing ability, and throwing skills, as he angled his body and isolated his right arm to target the basket. Mastering this move today requires players to consistently study and practice Kareem's technique, focusing on footwork, arm extension, and release.

Players can also improve their court skills by learning the Euro Step, a basketball move popularized by Argentinian legend and NBA player Manu Ginobili. The move involves a player taking a wide step in one direction and then quickly taking another step in a different direction with the other foot to throw off defenders when intending to pass the ball or dunk. Ginobili's smoothness and body control as he used this move helped him glide past players and create scoring opportunities. The move has become a staple for other guards like Dwayne Wade, who look to create space through unpredictability.

The finger roll, a unique basketball move invented by Wilt Chamberlain and perfected by George Gervin, is another skill worth mastering. Basketball players can perform this move by dribbling towards the basket, then using their fingertips to roll the ball off their hand and up towards the backboard. Gervin would perform the move by flicking the ball over an outstretched defender and relying on the spin to direct the ball into the basket.

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Strategies to Grow a Real Estate Portfolio

5/23/2023

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​Real estate is a multi-billion dollar sector that presents а lucrative opportunity for investors to build wealth and diversify their portfolios. However, navigating the constantly evolving realty landscape requires a sound strategy.

A clear business plan with well-defined goals and expectations can simplify real estate investing. With a sound plan and investment strategy, investors can make informed decisions about acquiring and effectively managing properties. For instance, investors seeking consistent cash flow and long-term income may opt for rental properties, while those looking for quick returns may consider buying and renovating properties for profit.

Investors should consistently monitor the real estate market and stay current with the trends. Research can give insight into the buying and selling metrics, property values, market days, and rental trends. Researching community stats like demographics, economic growth, and job market can help investors effectively choose a location to expand their portfolio. Automation tools in the research process can also help investors quickly scan the market and alert them on potential properties.

When looking for properties, investors can opt for off-market properties not listed on the Multiple Listing Service (MLS), as they are often undervalued. Occasionally, brokers may create interest in a property by sharing information through word of mouth or advertising properties exclusively within their network. Networking with brokers and real estate agents can expose investors to these properties. Searching distressed properties, such as those in foreclosure, can also help as they often come at a discount.

Financing is key for real estate investing, enabling investors to seize market opportunities. To develop a financing plan, investors should assess how much they can afford to invest and explore the available financing options. Besides a financing plan, investors must also manage their finances wisely, controlling costs and cutting losses by selling unprofitable properties to free up funds for better investments.

Instead of relying solely on their savings to finаnce investments, Investors can accelerate their real estate portfolio growth by leveraging their equity to purchase additional properties. For example, an investor can acquire a property for $300,000 and increase its value to $500,000 through improvements. They can then use the $200,000 equity difference to buy more properties or use it as collaterаl to secure financing for further investments.

Another crucial strategy is for investors to diversify their investments across different properties and locations. Although investing in one location or property may seem easier, drastic market changes may affect a portfolio’s success. By diversifying their portfolio with a mixture of short-term and long-term rentals, commercial real estate properties, and buying undeveloped land, investors can maintain a dependable income stream and minimize the risks of income fluctuations.

Assessing the performance of a real estate portfolio is аlso crucial to determine the success of investments. Investors can track metrics like net cash flow, cash-on-cash return (the annual net operating income ratio to total cash invested), and property appreciаtion.

It’s also advisable for investors to work with a strong team of professionals in expanding their real estate portfolio. Expert advice from a portfolio manager can help investors understand how to select better assets to build a successful portfolio. Additionally, a professional property management team can handle rent collection, maintenance and repairs, and lease management, among other services, creating more time for investors to focus on closing new deals.

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Tips for Safe Trampoline Exercise

5/16/2023

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​Using a trampoline can provide the body with a number of physical benefits, including increased strength across a number of muscle groups. Additional physical benefits include improved balance and bone density, while psychological benefits range from a decrease in stress levels to an influx of endorphins, natural chemicals in the body that promote feelings of joy and happiness.

Individuals interested in working out with a trampoline can purchase several types of trampolines, or they can simply spend time at a trampoline park. But before beginning, individuals should first educate themselves about the proper use of the equipment, as well as safety tips specific to trampoline parks.

To start, individuals must first ensure that they are healthy enough to use a trampoline. Families should discuss the matter with their physician, learning about the physical limitations that may hinder some older participants and the additional safety precautions that should be taken with children.

As mentioned, there are different kinds of trampolines a person can look into. Adults interested in using a trampoline for exercise should consider rebounders, mini-trampolines that can be used indoors. Athletes training for gymnastics or diving competitions often use rebounders over the course of training.

When it comes to children and trampolines, the general standard of safety is that a child should never use a trampoline without adult supervision. Most doctors will agree that children aged 6 and under should not use trampolines at all. Regardless of age, the most important rule for trampoline safety is to never allow more than one person to jump at the same time. Double jumping is more or less impossible with most rebounders, as they are too small to accommodate multiple people, but outdoor trampolines are much larger.

There are several potential dangers associated with double jumping. A collision becomes increasingly likely the more people there are in the space, which can lead to any number of injuries. More importantly, multiple jumpers can result in an intentional or unintentional situation known as a double bounce, where one jumper’s force and momentum causes a nearby jumper to gain much more height than normal. The majority of trampoline injuries occur when two jumpers bump into one another, or when one jumper double bounces another.

Finally, individuals using trampolines for specific athletic training should do so under the supervision of trainers and spotters. A person using a trampoline for general exercise, on the other hand, should refrain from attempting gymnastic maneuvers or similar stunts.

A trampoline park is a location, typically indoors, that features many trampolines for public use. In many cases, large stretches of the floor at a trampoline park function as a single, extended trampoline surface. All of the previously established standards of trampoline safety should be followed at trampoline parks, but there are a few additional safety advisories that jumpers should follow.

For starters, trampoline parks have their own rules and, in some cases, are governed by state law. Individuals must read and follow all signage at a trampoline park. On a related note, most trampoline parks, like rock climbing facilities, require guests to sign a waiver. Individuals should review this waiver ahead of time to make sure they understand and agree to the terms.

Finally, individuals and families should consider visiting trampoline parks outside of peak hours. Not only do peak hours mean longer lines and potentially higher admissions prices, but the greater numbers increase the chances of jumper collisions.

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Why Invest in Indoor Trampoline Park Business

5/9/2023

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​The trampoline park business is one of the fastest-growing out-of-home entertainment spaces. In 2011, though, there were only 35, maybe 45, indoor trampoline parks in the United States. Today, over 500 indoor trampoline parks are in the United States alone. As demand for the sport rises, so will the industry and business opportunities.

Trampoline parks appeal to a wide demographic. Jumping is not a kids-only activity; even adults between 20 and 40 find trampolines fun. They also appeal to outgoing families who want to spend time out of their homes. Even those who do not particularly fancy jumping always find something fun to do at the park.

Trampoline parks are also suitable for group events, like birthday parties, sports training, and team-building activities. These are big earners because often, attendees spend two to three hours at the park. The trick to attracting such events is to create several programs and activities that appeal to diverse audiences.

That’s why successful trampoline parks incorporate other fun activities besides trampolines. Additional activities and services, such as entertainment, restaurants, and snack bars, are a great way to keep visitors longer and for maximizing revenue. What’s more, with several features and extra activities, it’s easier to identify and double down on features that interest visitors and eliminate those that do not. The adaptability of the trampoline business also makes keeping up with trends easy.

Trampoline parks are part of an ever-growing industry: a healthy lifestyle. As millions of Americans continue to seek fun ways to keep their bodies moving, businesses built around a fun lifestyle will continue to appeal to them. Since trampolining presents a low-effort, inventive way to exercise while having fun, demand will keep soaring.

Sure, the initial investment is quite hefty. There’s expensive equipment to acquire, premise requirements to comply with, and labor and operational costs to meet. But all these pale in comparison to the promising profit margins, the quick turnover, and several revenue streams. Also, the trampoline business model is simple: users pay per the time spent on various activities.

Additionally, indoor trampoline parks operate all year round because they’re not affected by changing weather. In winter, for instance, indoor trampoline parks become the go-to out-of-home recreational and entertainment spots.

Even with all the modern, on-demand activities in place, you still need foot traffic. Location is an important factor when setting up an indoor trampoline.

Ideally, you should take advantage of existing foot traffic as opposed to trying to attract your own traffic. A prime location, such as near a mall, can be expensive. As such, old industrial buildings are a good alternative. They tend to be in low-rent areas, not to mention they require minimum demolitions, if any. If you offer several fun activities, visitors won’t mind driving out of their way for fun.

If you can draw up a sound business plan, get the design concept right, and nail the location, you can be sure of a decent return on investment. To reduce the cost of maintenance, use the highest-quality material. This would reduce defects-related injuries and position your park as a safe place.

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Advantages of Algo-Trading

5/1/2023

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​Beginner online traders believe stock and currency price movements are random and unpredictable. Some even believe trading is akin to gambling. But, unlike gambling, traders can stack the odds in their favor. By analyzing the market and executing based on a predetermined set of conditions, millions of traders are making a living out of it.

Algorithmic trading, also called black-box trading, automated trading, or algo-trading, uses sophisticated computer programs to execute trades. First, the trader sets parameters or things that must happen on the market for a trade to go live. The parameters could be as simple as buying Apple stock if the stock price reaches $102. Then sell the stock (exit) when the price rises to $115 or drops to $97.

If the trader wanted to buy one million Apple shares, buying it all at once may distort the market price and cause volatility. But, by breaking the shares into batches of 1,000 shares, for instance, and instructing the algorithm to sell every five minutes or at specific price levels until he's bought all 1 million shares, he can avoid distorting the price. The investor would also have to sell (exit) in batches. For this reason, algo-trading is more popular among institutional traders (people who trade lots of money) than individual traders.

Individual traders tend to trade manually using the same parameters but must execute the trade themselves. But they, too, can use algo-trading. Algorithmic trading is purely rule-based-decision making. This means there's no room for misinterpretation. Either a stock has been trending upwards for a week and has reached a predetermined price, thus executing a trade, or it hasn't, meaning no trading.

By taking emotions out of trading, algo-trading can increase the odds of success, given trading is mostly a psychological battle. Because the trader can predetermine and set conditions under which they would enter and exit a trade, profitable or not, algo-trading eliminates the need to interfere with trades once active.

In addition to removing human error, algo-trading also saves time. Investors who don't have the time to manually adjust exit points, especially when they have several active trades, use algorithms to trail the exits (reducing risk exposure and locking in profits).

One can instruct their algo to move the stop loss (acceptable risk) to their buy or sell price if it goes up or down by a certain value or percentage. This makes their trade risk-free. This way, they'd break even if the price suddenly moved against them. If it continues to move in their favor, the algo will keep trailing the exit, ensuring the trader makes some money, whatever happens.

Algo-trading is not without its fair share of disadvantages. For instance, automated trading is heavily tech-dependent. For one, it requires a high-speed internet connection for flawless trade executions. This overreliance on technology can result in missed opportunities in the event of a technical issue, such as an internet outage or software issue.

Algo-trading does not guarantee trading success. Neither can it accurately predict where the price will go. It makes entering and exiting trades seamless, especially when trading in high volumes. But because Algo-trading eliminates the human element in decision-making, traders who struggle to keep emotions out of their trading decisions can leverage it. Moreover, algo-trading works best when a trader already has a sound trading strategy.

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