Currency trading success depends on several factors but they all stem from one specific factor – If you don’t have it, you will probably join the 95% of losers. It’s a common error made by novice traders, so let’s look at it:You need confidence in the method you use. This requires some more explanation. It’s a fact that most traders don’t have ultimate confidence in their method because they do the following: They try and buy a method from someone else and don’t understand the logic it is based upon. Because they don’t fully understand the logic, they fail to follow it through losing periods and throw in the towel. If you want to succeed in FX Trading you need to follow a method with rigid discipline, through inevitable losing periods.
If you don’t, you don’t have a method in the first place!Furthermore most systems sold are junk. There sold by writers, or failed brokers and simply don’t work. These people rely on hypothetical track records and the greed of buyers, to make them think they will win, but of course they don’t. So how do you get confidence in the method you use? 1. If you are buying a system Only look for a track record in real time of 2 – 3 years duration – this proves that the logic of the system is soundly based. By looking for a real time track record you can get rid of 95% or more of FOREX trading systems that are sold. 2. Understand the logic However, even with a FOREX trading system that has worked in the past you still need to have confidence in it and that means understanding why it in depth, so you have confidence. You also need to be happy with the drawdowns it incurs some traders can take for example 50% drawdowns - others can’t.Look at the worst peak to valley drawdown and time to recovery. Make sure your happy with it and that you can follow your system through drawdowns of similar magnitude. 3. The best way to achieve currency trading success is to: Devise your own FOREX trading method. While this may sound daunting, it’s easy to do. You can build the system and test it and as it’s yours you will have total confidence and the discipline to follow it when the going gets tough. Building a system is easy, if you do a little research and we have in our other articles shown you how to do this. Many people think they can trade FOREX and have no real drawdown, but that’s not real life. Drawdowns are emotionally and financially draining and confidence gives you the discipline to stick with your system.
By: kelly price
Saturday, April 28, 2007
Currency Trading – Success Depends On One Critical Factor
Thursday, April 12, 2007
Stock Quotes – Things to Know
Stock quotes are the information about the price of stock at a particular time. They provide most valuable information about stock and stock market changes. They are also the primary tool for traders to trades. A stock trader can find stock quotes from a variety of resources.
Stock quotes are the information about the price of stock at a particular time. They are displayed either as fractions or decimals. Stock quotes provide most valuable information about stock and stock market changes. They are also the primary tool for traders to execute trade. Quotes are also available for other derivatives like futures, options, forex currencies etc. Stock quotes can be grouped into various types as historical stock quotes, delayed stock quotes and real-time stock quotes. Historical stock quotes are stock prices and change patterns before certain period of time - useful to understand and determine periodical stock trends. Delayed stock quotes are usually free stock quotes provided by various institutions, journals, portals, etc. which have 15 or 20 minutes delay. They are useful for most stock market investors and small scale traders. Real-time stock quotes, also known as live stock quotes or streaming stock quotes, are provided by specialized quote sites and through stock market trading systems with less than a minute delay.
Live streaming stock quotes are vital for online day traders trading according to very small changes in stock prices. The presentation of stock quotes can vary greatly, they may be graphs with values, simple line of phrase with alphabets and decimals, or tables showing values. Similarly stock quote presentation of different sources may also vary from single ‘last price‘ value to full details including the price change of the day, the trading range of the day, 52 week (one year) range, the volume of stock traded, the average volume of trade, market capitalization, earnings per share (EPS), dividend yield, P/E ratio, closing price, highest price of the day, and lowest price of the day. By theory, a stock has a set of stock quotes as 'bid price' and 'ask price'. The bid price is the price which market makers or specialists are ready to pay for the stock and ask price is the price at which the market maker is ready to sell the stock. The difference between the ask and the bid price is the spread, which is mainly responsible for liquidity in low priced stocks. The need of ask and bid prices in a stock quote is purely because the market need a market maker to buy the stock whenever one trader sells it and to sell the stock whenever on want to buy it. A stock trader can find stock quotes from a variety of resources. Free delayed stock quotes are available from newspapers, journals, company websites, stock market, market maker and stock broker websites, popular search engines and portals like Yahoo! Finance and MSN Money, and various financial websites. As told earlier real-time stock quotes are paid services. These services also provide timely alerts and triggers to automate and better execute traders, and are integrated with powerful mathematical and visual tools to formulate right trading strategies. Recently Google and CNBC have presented their readiness to provide free real-time stock quotes of NYSE stocks to SEC, which if come true will be an added benefit to all type of traders.
Source: Free Articles from ArticlesFactory.com
ABOUT THE AUTHOR
Praveen Ortec works for NobleTrading.com, an online investing broker offering live streaming stock quotes on different online stock trading software.
Thursday, April 5, 2007
Retirement Investing. Use Your IRA or 401K To Invest In Condotel rental income properties
PLC International Marketing Networks continues to reward investors with exciting offshore investment opportunities in the Philippines by introducing the Self-Directed IRA/401K:
Beth Collingz, PLC Global Marketing Director for Pacific Concord Properties Inc’s Lancaster Brand of Condotels in the Phillipines recently announced that US investors can use their IRA to invest in Real Estate, collect rents and watch their investments grow tax-free or tax-deferred.
Historically, real estate has provided many Americans with a stable investment vehicle that provides both income and appreciation. One of the greatest tools available to real estate investors is government-sponsored retirement plans, such as IRAs.
Very few Americans realize that they have the option to self direct their IRAs and other retirement plans into real estate. Most investors believe that their only IRA investment options are bank CDs or the stock market and mutual funds, not real estate. If you currently are a successful real estate investor, or are just looking to diversify your retirement portfolio, the combination of real estate and your IRA can be very powerful.
Why Haven’t I Heard of the Real Estate IRA Before?
Most IRA custodians do not offer truly self directed IRAs/real estate IRAs. They will only allow you to invest in their approved list of investment options, not real estate. IRA investing at a bank will probably be limited to CDs; at a brokerage firm, to stocks, bonds and mutual funds.
In addition, pre-construction condos, such as the Lancaster Suites Atrium Condotels in the Philippines, are reported to be one of the most hassle-free, profitable real estate investments to use!
With stocks and mutual funds constantly fluctuating in value and the risk of loosing all your money, real estate is still the only investment with true value.
The tremendous advantages a real estate IRA and other self directed retirement plans offer Americans include the following:
• The power of compound interest• Reduction of taxable income• Asset protection• Estate planning
For further info please do not hesitate to contact us:
Beth CollingzPLC International Marketing NetworksPacific Concord Properties Inc., Manila Head OfficeShaw Boulevard, Mandaluyong City. Metro Manila. PhilippinesPhone: Manila [632] 717 1958Fax: Manila [632] 718 1828
Pacific Concord Properties Inc., Cebu OfficeLapu-Lapu City, Mactan. Cebu. PhilippinesPhone: Cebu [6332] 340 0721Fax: [6332] 495 4938EMail: plcsales@pldtdsl.netWeb: http://www.lancastersuites.com [Lancaster Condotels]
