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10 BEGINNER FOREX-TRADING MISTAKES - 2/10

By Kathleen Brooks, Brian Dolan

These “beginner” trading mistakes are made by everyone — from total newcomers to grizzled forex market veterans. No matter how long you’ve been trading, you’re bound to experience lapses in trading discipline, whether they’re brought on by unusual market developments or emotional extremes.

The key is to develop an intuitive understanding of the major pitfalls of trading, so that you can recognize early on if you’re letting your discipline slip. If you start to see any of the following errors in your own trading, it’s probably a good idea to square up, step back from the market, and refocus your concentration and energies on the basic trading rules.

Running losers, cutting winners: By far the most common trading mistake is holding on to losing positions for too long and taking profit on winning trades too soon. By cutting winners too early, you may not make as much — but then again, you literally can’t go broke taking profit. That said, you will deplete your trading capital if you let losses run too long.

TIP!

The key to limiting losses is to follow a risk-aware trading plan that always has a stop-loss order and to stick to it. No one is right all the time, so the sooner you’re able to accept small losses as part of everyday trading, the sooner you’ll be able to refocus on spotting and trading winning strategies.

Trading without a plan: Opening up a trade without a concrete plan is like asking the market to take your money. If the market moves against you, when will you cut your losses? If the market moves in your favor, when will you take profit? If you haven’t determined these levels in advance, why would you suddenly come up with them when you’re caught up in the emotions of a live position?

Resist the urge to trade spontaneously based on your instincts alone without a clearly defined risk-management plan. If you have a strong view, go with it, but do the legwork in advance so you have a workable trading plan that specifies where to enter and where to exit — both stop-loss and take-profit.

TIP!
Be aware of the increased risk of trading around important news and data releases. Study economic and event calendars to identify future event risks, and factor them into your trading plan. That may mean stepping out of the market in advance of such events.

http://www.dummies.com/personal-finance/investing/currency-day-trading/10-beginner-forex-trading-mistakes/

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Expert Advisers - FOREX TRADING

WHY DO MOST TRADERS LOSE MONEY?

Trading strategies, expert advisers (EA) and indicators on your trading account usually seem to work well in the beginning but after a while, a steady decline of your trading account balance start to occur. For many individuals, this leads to the belief that it’s not possible to create an income from forex trading and that this form of trading is a scam.

According to statistics, 90% of forex traders lose money to the market

That means that 9 out of every 10 traders are not making money from the market, instead, the market is making money from them.

The winning 10% are those traders who have learnt from experience that it takes more than a good trading strategy to stay profitable in the forex market.

Factors that influence trading performance

The biggest advantage of automated forex trading systems is that they remove the emotion from the process which tends to reduce the behavioral finance biases that negatively impact investment decision-making.

Decisions such as choosing a high or low leverage or not even using leverages on your trading at all, have a direct impact on your account. On top of this, these decisions are all correlated, which means that making a single mistake at any step will directly affect your overall performance which will consequently result in losses.

 * Psychological and Emotional conflict with the trading system 

 * Starting with a wrong amount of trading capital

 * Choosing the wrong broker vs. trading style

 * Choosing the wrong account type vs. trading style

 * Using the incorrect win/loss ratio vs. trading strategy

 * Using the wrong leverage on your broker vs. your capital

 * Choosing the wrong type of broker: ECN VS non-ECN

 * Use of stop-loss vs. non use of stop-loss

 * Currency pairs traded vs. trading strategy used

 * Money management vs. trading strategy used

Can inexperienced traders make a profit from trading?

To understand how decision-making affects your trading account, you need knowledge of the forex market and a true understanding of how it operates.

The only way to do this is to adopt the leverage used by pro traders – the ones that have truly mastered the art of the market and who knows how to profit from forex trading. 

This is why AFT Club’s experienced team of forex traders has developed a trading platform that will connect struggling traders with experienced veteran traders. AFT Club will give clients access to this platform, the same platform used by our veteran traders.

What is the AFT Club automated trader?

The AFT Club forex trading system was developed by a team of veteran traders and addresses all the pitfalls that inexperienced traders usually fall victim to. This gives traders the ability to start making money from the market immediately while they simultaneously study the market to expand their trading knowledge – a process that can take years.

Our automated forex trading platform – the Meta Trader 4 Robot – will do all the trading for you, similar to the way that a pro trader live manages an account. This tool can put you in the 10% of traders that profits from forex trading.

This expert adviser platform uses a combination of sophisticated money-management systems that only the most successful traders in the forex market have access to.

For a free account, visit http://aftclub.co.za/
Follow them on Facebook: @aftclub and see why they have a 5 STAR Rating

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Dividend-yielding stocks - BARBARA DIGGS

Shareholders of dividend-yielding stocks receive a payment at regular intervals from the company’s profits or reserves. Since the income received from the stocks isn’t related to any activity other than the initial financial investment, owning dividend-yielding stocks can be one of the most passive forms of making money.

Henrik5000/Getty Images

The tricky part, of course, is choosing the right stocks. Graves warns that too many novices jump into the market without thoroughly investigating the company issuing the stock. “You’ve got to investigate each company’s website and be comfortable with their financial statements,” Graves says. “You should spend two to three weeks investigating each company.”

That said, there are ways to invest in dividend-yielding stocks without spending too much of an initial time investment. Graves advises going with exchange-traded funds, or ETFs. ETFs are investment funds that hold assets such as stocks, commodities and bonds, but they trade like stocks.

“ETFs are an ideal choice for novices because they are easy to understand, highly liquid, inexpensive and have far better potential returns because of far lower costs than mutual funds,” Graves says.

https://www.bankrate.com/investing/realities-behind-creating-passive-income/#slide=6

Be on the Lookout for my next Blog where I will reveal way more about Trading the Global Markets!

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Peer-to-peer lending - BARBARA DIGGS

A peer-to-peer loan is a personal loan made between you and a borrower, facilitated through a third-party intermediary such as Prosper.com or LendingClub.com. As a lender, you earn income via interest payments made on the loans. But because the loan is unsecured, you face the risk of default.

To cut that risk, you need to do two things:

1. Diversify your lending portfolio by investing smaller amounts over multiple loans (Prosper.com recommends more than 100).
2. Analyze the historical data on the borrowers to make the right picks.

The time it takes to master the metrics isn’t the only reason P2P lending isn’t entirely passive. Because you’re investing in multiple loans, you need to pay close attention to payments received. Whatever you make in interest should be reinvested if you want to accumulate interest.

LOAN SEARCH: If you’re not ready to invest, you can borrow from a peer-to-peer lender – check out personal loan rates with LoanMatch.

Be on the Lookout for my next Blog for more Passive Income Strategies!!

https://www.bankrate.com/investing/realities-behind-creating-passive-income/#slide=5

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Affiliate marketing - BARBARA DIGGS

With affiliate marketing, website owners or bloggers promote a third party’s product by including a link to the product on their site. When a visitor clicks on the link and makes a purchase from the third party, the site owner earns a commission.

Affiliate marketing is considered passive because, in theory, you can earn money just by adding the link to your site. In reality, you won’t earn anything if you can’t attract readers to your site, click on the link and buy something. So if you’re just starting out, you’ll have spend time creating content and building traffic.

Be on the lookout for my next Blog for more Passive Income Strategies!!!

https://www.bankrate.com/investing/realities-behind-creating-passive-income/#slide=4

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5 ways to create a passive income stream - 2/5

Rental income - BARBARA DIGGS

Investing in rental properties is an effective way to earn passive income. Nonetheless, it often requires more work than people expect. If you don’t spend the time learning how to make it a profitable venture, you could lose your investment and then some, says John Graves, author of “The 7% Solution: You Can Afford a Comfortable Retirement.”

To earn passive income from rental property, Graves says you must determine three things:

1. The return on investment you want to have.
2. The property’s costs and expenses.
3. The financial risks of owning the property.

For example, if your goal is to earn $10,000 a year in rental income and the property requires a $2,000 monthly mortgage plus an additional $300 a month in taxes and other expenses, you’d have to charge around $3,150 in rent monthly to reach your goal.

Now, the question becomes one of risk: Is there a market for your property? Might you get a deadbeat tenant? Will your tenant damage the property? All of these could result in a sizable dent in your passive income.

A personal loan can be used to improve a rental income property, check out rates today.

Be on the lookout for my next Blog for more Passive Income Strategies!!!

https://www.bankrate.com/investing/realities-behind-creating-passive-income/#slide=3

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Selling information products - BARBARA DIGGS

One popular strategy for passive income is establishing some kind of information product — an e-book, audio course, DVD — then kicking back while cash from the sales of these products rolls in.

While information products can eventually yield an excellent income stream, Tresidder notes that it’s hardly a passive activity.

“It takes a massive amount of effort to create the product,” he says. “And to make good money from it, it has to be great. There’s no room for trash out there.”

Tresidder says to find financial success, you have to build a strong platform, market your products and plan for serialization.

“One product is not a business unless you get really lucky,” Tresidder says. “The best way to sell an existing product is to create more excellent products.” But once you master the business model, he adds, you can generate a good income stream.

Be on the lookout for my next Blog for more Passive Income Strategies!!!

https://www.bankrate.com/investing/realities-behind-creating-passive-income/#slide=2

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5 ways to create a passive income stream - Introduction

Creating passive income, not a passive activity - BARBARA DIGGS

The idea of building wealth through passive income has understandable appeal, especially if you’re worried about being able to save enough from your work earnings to meet your retirement goals.

For example, to generate $1,000 a month in retirement income from a portfolio, you’d have to amass about $250,000, assuming a 5 percent withdrawal rate. Better to create a passive income stream to help you reach this goal.

What is passive income?

Passive income includes regular earnings from a source other than an employer or contractor. The IRS says passive income can come from just 2 sources: rental income or a business in which an individual does not actively participate. Examples include book royalties and dividend-paying stocks.

It’s easy to think as passive income as money you earn while sitting on a beach sipping mojitos, but there is lots of work involved, says financial coach and expert Todd Tresidder.

“Many people think that passive income is about getting something for nothing,” Tresidder says. “It has a ‘get rich quick’ appeal … but in the end, it still involves work. You just give the work upfront.”

If you’re thinking about creating a passive income stream, check out these five strategies and what it takes to be successful with them.

Be on the lookout for my next Blog for more Passive Income Strategies!!!

https://www.bankrate.com/investing/realities-behind-creating-passive-income/#slide=1

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