MINDFUL CURRENCY TRADING: HOW TO ENHANCE YOUR PERFORMANCE - DONE!!!

By Kathleen Brooks, Brian Dolan

Here are the last of the Achilles heels that can negatively impact a trader’s performance:

• Greed: Did you let a trade run for too long because you thought you could wring another dollar from it? If so, you aren’t alone. Greed clouds the senses. You shouldn’t be trading, at least initially, to make a fortune. Have realistic expectations, and treat your early trades as an experiment. Try not to think of all the things you’ll be able to buy with your earnings. Trading can make you a lot of money, if you’re good at it, but it takes time. The best traders are passionate about trading — they’re not in it for the money.
• Expectations: You can easily let your expectations snowball. But if you reach for the moon too soon, you’ll be disappointed, and that can lead to more mistakes. You won’t become Warren Buffet overnight, or in six months, or with a $6,000 account. If you use the correct money-management skills, you should risk only 2 percent to 5 percent of your account balance on each trade. Anything else could lead you to risk too much of your account, which could wipe you out if the trade doesn’t go your way. Don’t expect to win all the time. Most successful traders with solid money-management systems in place may only win a little over 50 percent of the time.

THE TIP AS PROMISED!!!

Nurturing your psychological health is extremely important to your success as a trader.

http://www.dummies.com/personal-finance/investing/currency-day-trading/mindful-currency-trading-how-to-enhance-your-performance/

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If you followed my Blogs the last 2 weeks, you should understand the basic fundamentals of trading! There are a lot of Companies and Organisations that will help you to get acquainted with Trading the Global Markets. 

Just make sure you do your due diligence!!! And be sure to lookout for non-legit programs.

MINDFUL CURRENCY TRADING: HOW TO ENHANCE YOUR PERFORMANCE 1/2

By Kathleen Brooks, Brian Dolan

Three things make you a good currency trader: platform, methodology, and psychology. Often traders have the first two covered, but they come up short in the psychology department.

Do you ever think that trading is too hard? That you can’t seem to make money or make a good decision? If so, that’s good! It means you’re a perfectly normal trader who shares the doubts and fears of traders all over the world. The key is to develop a strategy to manage those doubts and fears so that they don’t get in the way of your being a good trader.

Trading is hard on people — it makes them confront their fears around money, self-worth, and performance. In life, you spend most of your time somewhere in the middle, neither succeeding wildly nor failing miserably, but managing to muddle through. With trading, that isn’t the case — you either make money or you don’t, and you know how you performed immediately.

Here are some of the Achilles heels that can negatively impact a trader’s performance:

• Impatience: Many traders enter or exit a trade too quickly. They don’t stick to their plans, lose, and then blame themselves for days afterward. This blame game leads to self-doubt, which can make you hate trading. If you’re impatient, the key is to find out what triggers your impatience. Is it around major trading events like U.S. labor market data, when the market gets volatile for a few minutes? If so, don’t trade during that time. Does it tend to occur if you’ve just had a losing trade? If so, instead of placing the first trade that comes into your head, write it down and leave it for an hour; then read it over and see if you want to place the trade. (You probably won’t, but if you do, at least you’ll know it wasn’t because you were impatient.)
• Fear: Fear is an important reaction, but sometimes it causes traders to freeze. If you’re new to trading, just remember that currency trading gets easier the more you do it and the fear eventually subsides. Also, put things in perspective: No one will die as a result of your putting on one trade. If you use the correct money-management skills, and if you use a sell-stop order, then you should know how much money you may lose on any trade, which can limit the fear factor.
• Pride: You know that feeling in your chest — the one that feels like everyone is watching and judging you if you fail. If you’re worried about what other people will think of your performance, good news: Most people are too obsessed with their own lives to worry about yours. Plus, it’s natural to make mistakes, so give it your best shot and don’t let your pride get in the way of your learning and growing as a trader.

Tomorrow I will reveal the other 2 with a TIP!!!

http://www.dummies.com/personal-finance/investing/currency-day-trading/mindful-currency-trading-how-to-enhance-your-performance/

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Be sure to lookout for the TIP!!!

WHAT KIND OF TRADER ARE YOU? THE RESULTS ARE IN....

By Kathleen Brooks, Brian Dolan

THE RESULTS

Tally up the number of A’s, B’s, and C’s in your responses. If you mostly answered A, you’re a scalper. If you mostly answered B, you’re a swing trader. If you mostly answered C, you’re a position trader. Read on to learn more.

• The scalper: A scalper is a trader who looks for short, minimally profitable opportunities in the market that can add up over time. If you’re a scalper, you don’t have the patience to hold a position for a lengthy period and you grow bored easily when keeping trades active for too long. You’re motivated by the excitement of seeing fast-moving markets, sometimes trading around major news events to realize the vast potential of a large move in a very short period of time. You aren’t happy about placing a losing trade, but you’re typically less impacted both financially and emotionally due to the small nature and frequency of trades that you place.
• The swing trader: A swing trader is someone who typically enjoys staying in a trade for as little as a few hours to potentially days. If you’re a swing trader, you like the analysis aspect of trading — finding patterns that develop and exploiting them like a cunning strategist. Because you place fewer trades on a daily and weekly basis, losing trades could have more of an impact on your psyche, so keeping your longer-term goals in mind and sticking to the plan are imperative.
• The position trader: A position trader has a much longer time frame in mind than most other traders. If you’re a position trader, you could be in a trade for months or even years if your conviction is strong enough. Usually based on a fundamental perspective of political, sentimental, or supply/demand reasoning, you brush off the fear of short-term movements. You’re much more tolerant of draw downs and could take losses for a very long time before finally admitting defeat.

So what kind of a Trader are You?

http://www.dummies.com/personal-finance/investing/currency-day-trading/what-kind-of-trader-are-you/

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Be on the lookout for my next Blog, where I will Reveal other Trading Strategies....

WHAT KIND OF TRADER ARE YOU?

By Kathleen Brooks, Brian Dolan

The kind of trader you are will affect — or should affect — your trading strategy. It helps to know your trader type so you can trade effectively and in a way that feels right for you. To determine your trader type, take the following quiz.

THE QUIZ

Which statement best describes you when you’re competing?

A. I’m aggressive, outgoing, and confident in my abilities whether I win or lose.

B. I like to be perceived as wise and thoughtful, and I accept loss as part of the process.

C. I’m calculating, and winning is extremely important to me.

1. In your free time, what do you most enjoy doing?

   A. Action-packed activities with high-adrenaline energy and risk

   B. Activities planned in advance, and ideally ones that further my knowledge or experience in some way

   C. A wide variety of fun activities, depending on what opportunities emerge that day

2. If you were given $250, which of the following would you do with the money?

   A. Gamble it on a good bet and try to win big.

   B. Spend it with a night on the town, shopping, and dinner.

   C. Save and invest the money for a rainy day.

3. Your favorite sports team is significantly behind at the halfway point of the game, what should the coach do?

   A. Trust the team’s preparation and original game plan, and the tide will turn in their favor in the second half.

   B. Draw up a new strategy to take advantage of a weakness observed in the first half.

   C. Take a risk by trashing the old strategy and shifting to a more aggressive attack mode to get back in the game.

4. At work, if you completed a project well ahead of your scheduled deadline, what would you do with the extra free time?

   A. Submit the project and ask for another.

   B. Pore over the project even further to dissect it, making subtle tweaks, but keeping the project much the same; then turn it in on time.

   C. Do more research to see if you can add on to the project even further.

5. In a party setting, which of the following descriptions is most like you?

   A. Energetic, rapidly flitting between conversations if you get bored

   B. Generally sitting with two or three close acquaintances, learning about what’s new with them

   C. The center of attention, happy as long as you’re surrounded by peers

6. Which of the following workplace careers would you most like?

   A. A long, successful career as an average employee who does a good job, gets paid well, and retires comfortably, while never rocking the boat or ascending to a position of power.

   B. A successful worker who often rises to management positions but is labeled as a “job jumper” who has many stints at a variety of business ventures.

   C. A short stint as a CEO of a well-known company that was initially successful and enriching, but eventually succumbed to outsized expectations, followed by an average career thereafter

7. How do you typically trade an event like nonfarm payrolls (NFP) in the United States?

   A. Form an opinion, place your trade, and hang on!

   B. Wait for the overzealous reactions directly after the announcement and trade the aftermath.

   C. Trade NFP? Are you nuts

    Be on the lookout for the RESULTS of this quiz in my next Blog...!!!
8. http://www.dummies.com/personal-finance/investing/currency-day-trading/what-kind-of-trader-are-you/
9. Source

10 BEGINNER FOREX-TRADING MISTAKES - DONE!!!

By Kathleen Brooks, Brian Dolan

• Being unaware of news and data events: Even if you’re a dyed-in-the-wool technical trader, you need to be aware of what’s going on and what’s coming up in the fundamental world. You may see a great trade setup in AUD/USD, for instance, but the Australian trade balance report in a few hours could blow it out of the water.
  Make data/event calendar reading a part of your daily and weekly trading routine. The market throws enough curveballs with unscheduled developments, so make sure you at least have a handle on what’s coming up. A forward-looking mindset also allows you to anticipate potential data outcomes and market reactions and to factor them into your trading plan.
• Trading defensively: No trader wins all the time, and every trader has experienced losing streaks. After a series of losses, you may find yourself trading too defensively, focusing more on avoiding losses than spotting winning trades. At those times, it’s best to step back from the market, look at what went wrong with your earlier trades, and refocus your energies until you feel confident enough to start spotting opportunities again.
• Keeping realistic expectations: Face it: You’re not going to retire based on any single trade. The key is to hit singles and stay in the game. Be realistic when setting the parameters of your trading plans by looking at recent market reactions and average trading ranges. Avoid holding out for perfection — if the market has achieved 80 percent of your expected scenario, you can’t go wrong locking in some profits, at the minimum.

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

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I have posted 10+ "beginner" trading mistakes!! You can avoid these mistakes by using an Expert Adviser (EA) on you're behalf - also called a Robot or Bot, Automated Trading etc.

Want to get involved in Trading the Markets? Look at this MUST HAVE TOOL!!!
It's free and Internationally Available....

10 BEGINNER FOREX-TRADING MISTAKES - 6/10

By Kathleen Brooks, Brian Dolan

Over trading: Over trading comes in two main forms:

• Trading too often in the market: Trading too often in the market suggests that there is always something going on and that you always know what it is. If you always have a position open, you’re constantly exposed to market risk. But the essence of disciplined trading is minimizing your exposure to unnecessary market risk. Instead, focus on trade opportunities where you think you’ve got an edge, and apply a disciplined trade strategy to them.
• Trading too many positions at once: Trading too many positions at once also suggests that you’re able to spot multiple trade opportunities and exploit them simultaneously. More likely, you’re throwing darts at the board, hoping something sticks. Trading too many positions also eats up your available margin collateral, reducing your cushion against adverse market movements.

WARNING!

Be careful about trade duplication and overlapping positions — a long USD/CHF position can be the same as a short EUR/USD or GBP/USD (all long USD versus Europe), while a short EUR/USD and a long EUR/JPY position nets out to be the same as being long USD/JPY.

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

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Be on the lookout for my next blog where I will reveal 2 more "beginner" trading mistakes!!

Want to get involved in Trading the Markets? Look at this MUST HAVE TOOL!!!
It's free and Internationally Available....

10 BEGINNER FOREX-TRADING MISTAKES - 4/10

By Kathleen Brooks, Brian Dolan

• Trading without a stop loss: Trading without a stop loss is a recipe for disaster. It’s how small, manageable losses become devastating wipeouts. Trading without a stop loss is the same as saying, “I know I’m going to be right — it’s just a matter of time.” That may be so — but it may take a lot longer than your margin collateral can support.
  

  Using stop-loss orders is part of a well-conceived trading plan that has specific expectations based on your research and analysis. The stop loss is where your trade strategy is invalidated.
• Moving stop-loss orders: Moving your stop-loss order to avoid being stopped out is almost the same as trading without a stop loss in the first place. Worse, it reveals a lack of trading discipline and opens a slippery slope to major losses. If you don’t want to take a relatively small loss based on your original stop loss, why would you want to take an even larger loss after you’ve moved your stop? If you’re like most people, you won’t — and you’ll keep moving your stop to avoid taking an ever-larger loss until your margin runs out.

WARNING!

Move your stop loss only in the direction of a winning trade to lock in profits, and never move your stop in the direction of a losing position.

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

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Be on the lookout for my next blog where I will reveal 2 more "beginner" trading mistakes!!

Want to get involved in Trading the Markets? Look at this MUST HAVE TOOL!!!
It's free and Internationally Available....

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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Be on the lookout for my next blog where I will reveal 2 more "beginner" trading mistakes!!

Want to get involved in Trading the Markets? Look at this MUST HAVE TOOL!!!
It's free and Internationally Available....

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

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!

What if you can find a Done 4 U System that can trade the Markets on Your behalf?

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5 ways to create a passive income stream - 4/5

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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5 ways to create a passive income stream - 3/5

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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5 ways to create a passive income stream - 1/5

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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