Some common misconceptions among the new traders

People are amazing in nature. Once they decide that they will do something it’s really hard to change their decision. Similarly, when it comes to trading this very human nature causes huge loss to the traders. Some even consider trading as one of the most dangerous profession since the success rate is too low. According to the researchers, only 5 percent of the traders are making money. So by seeing the data, you should understand that how competitive the trading world is for the new trader. However, once you develop a solid trading strategy and gain enough experience you can easily make a huge amount of money. But most of the retail traders fail to train themselves in the perfect way due to some common misconceptions. Today we will focus on the most popular misconception prevailing among the rookie traders.

forex trading

Trading more is the only way to earn more

The new traders in the financial industry often think that the more they will trade the better chance they have to make money. In the United Kingdom, the professional traders completely disagree with such a conception prevailing among the novice traders. In their point of view, the only way to make a huge amount of money is by trading less. According to them, the full-time currency traders should only focus on high-quality trade execution and they should do their technical analysis in the higher time frame. When you trade in the larger time frame then you can easily get a clear overview of the market. Most importantly if you use the smaller time frame then you will have to deal with lots of false spike and trading signals. If you are not experienced enough then this false spike even blow your entire trading account. So focus on quality trade setup and trade with discipline. Overtrading is not a bad thing only rather it is one of the most deadly mistakes in the investment world.[Continue Reading…]

Don’t Dismiss Personal Financial Planning

With so many daily demands pulling at your personal finances, it is sometimes hard to step back, taking-in the big picture.  Yet despite the importance of addressing immediate needs, it is nonetheless vital to account for your long-range financial vision, in addition to day-to-day concerns.

Financial planning serves several essential functions, helping you manage income and cash flow, without losing sight of your monetary goals.  Valuable for reaching milestones visible on the immediate horizon, as well as financial matters impacting your distant future, effective planning is an essential feature of comprehensive financial management.

Financial Forecasting Keeps you Focused

Preparing for your financial future keeps you moving toward your goals.  That’s not to say you’ll always steer clear of unexpected events you didn’t plan for, but taking a proactive approach gives you a better chance of achieving your personal financial priorities.  Some milestones to consider as your financial plans come-together include the following:

Home Ownership – Home ownership isn’t for everyone.  Not only does owning a house call for substantial financial investment, but maintaining and improving residential property can feel like a full-time job.  There are financial benefits to buying, as opposed to renting, including tax breaks and equity you build as property values increase and payments reduce outstanding principal. But if you are not committed to the idea of owning a house, you’re financial plans should reflect it.  On the other hand, if it is a family priority, you should start planning for a house purchase as soon as you are able.

Personal Financial Planning

Once committed to buying a house, saving for a down payment is your first order of business.  A dedicated savings account, cut-off from your general financial flow, is a good spot to accumulate funds for a house down payment.  Before looking at homes, consult with a banker and learn about loans online.  Not only does the process reinforce your understanding about lending and economics, but exploring finance options ahead of time also defines spending limits, illustrating exactly what you can afford.

Family Holidays – Although financial planning is often associated with long-range goals and big-ticket buys, preparing in advance also helps firm-up funding for less lofty goals.  Family travel and holidays, for instance, can sneak up on your budget, leaving you short of money when you need it most.  A savings plan ensures you have resources available for travel or holiday entertaining, enabling you to pay as you go, rather than amassing deep holiday debt.[Continue Reading…]

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Understanding Forex Trading Signals and how they work

Forex Signals

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Boost your income with the stock markets this year

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Extremely Simple and Reliable Call and Put Option Trading Strategy

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What to do to get Money in a Hurry

It can be useful to be prepared in case you need money in an emergency. For some people this means that they will have some savings put aside in order to use if they need to buy something quickly, have an unexpected bill or expense. However, if you … [Continue reading]