You are only ready to speculate when…

  • You have an emergency fund of atleast 3 months worth of expenses set aside in a bank account that you will not touch
  • You have a steady income that exceeds your expenses
  • You are fully contributing to your company 401k plan or 403b or have fully funded your IRA
  • You have sat down and developed a investment plan
  • You have backtested your trading strategy and have reasonable expectations
  • You are mentally prepared to lose some of your money
  • You have saved enough surplus funds to begin investing