How To Handle A String Of Investment  Losses

Everybody hates to lose and unfortunately no one is blessed with the ability of foresight, therefore losses are an unavoidable part of trading. When we enter a trade we will either be right, or wrong, and even if we broke-even we'd still be classed as being wrong - as nobody enters into a trade just to break-even! When unsuccessful traders encounter a string of losses they begin to engage in self-destructive patterns that help them escape the pain they are experiencing.

Bring to light these self-destructive actions that can help you realize what you are doing before it takes hold of your physical health. If you find yourself already engaged in these patterns hopefully this article can help you to get you back on track as quickly as possibl

What are the destructive patterns?

If you find yourself caught in a string of losses or a bad performing week/month be sure to monitor your behavior. It is during this time that you will be at your most vulnerable. You will begin to indulge in activities that at first seem harmless, but upon excessive use (or in time), begin to cause physical damage to your health.

Ask yourself the following question: during drawdown periods do I find myself over-indulging in these activities:

               Food (especially junk food - e.g. chocolate, ice-cream, chips)?

               Sex (includes viewing pornography)?

               Alcohol?

                Drugs (includes excessive smoking)?

                Laziness (find it difficult to wake up in the morning)?

                 Entertainment?

All of the above taken in excessive doses can be detrimental to your own physical health (some even in small doses!).

These activities above during your losing period are only covering up the pain of confronting the true issue, and your body tries to rid the emotional pain by trying to "fix" it with physical pleasures. Unfortunately it is going about it in the wrong way, so what should you do?

Firstly... REALIZE WHAT YOU ARE DOING AND STOP IT!

You need to realize what you're doing and you need to STOP doing it immediately! You can either decide to stop, or you'll be forced to stop when your body eventually breaks down and prevents you from any form of movement. It will be much more beneficial to you in the long-term if you can decide to stop *NOW*.

Once you have stopped you now need to figure out a way to solve the pain - not by cutting out or neglecting it, but by staring it in the face. Bring your problems out into the light, be honest with yourself. There can be no growth without pain; you are experiencing the emotional pain, now it is time to find the error and therefore your growth.

Begin Your Review

The review process begins in two separate areas: You & Your System. Here are some checklists for you to go through to find out where the problem could lie:

"YOUR SYSTEM" CHECKLIST

Was your system thoroughly tested prior to trading it (or paper traded if you do not have the capacity to program your system into back testing software)?

         Did you test with out-of-sample data?

        Do you even have a system???? If you do not, how do you even know if the method that you are trading is even profitable??

        Is your system's code correct?

        Did you over-optimize your system? (What have we discussed about over-indulging?)

        Did you paper trade your system prior to placing capital on it?

       Did you trade with a small amount of capital prior to placing the rest of your funds on it?

       Do you know the system's limitations?

       Did you properly drill your system? (See our blog article on why I am the system designer from hell)

   "YOU" CHECKLIST

       Is the current drawdown you are exhibiting with your system normal?

       Are you comfortable with your system's historical drawdown performance?

       Are you fully aware of the risks involved with your system and the instrument(s) you are trading?

        Are you trading with funds that you are comfortable risking?

        Are you relying too heavily on your performance?

        Have you set realistic goals?

    As you can see there are generally two areas that you need to explore: the mechanical aspect - your system - and the emotional aspect - you. Both can be responsible for making the way you feel the way you do. It will either be an error on the system's side with how the system was tested and/or programmed, or it can be your own psychological profile not being comfortable with the system's performance.

   Your Answers = Change = Your Growth

What steps should we now take? Now that we have begun a corrective process where we have stopped the evil nature of our over-indulging ways to take control we should continue our "corrective nature" by invoking our findings and taking ACTION in correcting our errors.

If the problem was mechanical - fix it, if the problem was emotional either go about setting up new thought patterns, or change your current system. The answers lie in whether you need to expand your knowledge in system development, or whether you need to grow emotionally as a person.

Unfortunately there is no easy road, and even if there was everybody would be doing it. Hopefully this article has made you ponder over some of your behaviors during drawdown periods, be sure to keep an eye on yourself and as always take care of your body, because there's no use in making all the money in the world when you don't have the physical capacity to enjoy it

How To Handle A String Of Investment  Losses

For your Information (FYI) - Bankruptcy

People view bankruptcy as a wake up call and well they should because that means they hit the bottom of the barrel and are now scratching the bottom - for more cash! If you believe misery loves company, be secure in the knowledge that there are at least 1.5 million people in there with you, that's how many filed for bankruptcy in the last year. Anyone can over-extend themselves and many do for more reasons than I could count.

  Filing for bankruptcy is not only used by the lower and middle class but the rich as well. Famous people have fallen into the hole and climbed out, people like:
Donald Trump, Filed in 1990 - Kim Basinger, in 1993 - Burt Reynolds, in 1996 Rembrandt, in 1656.  I am not sure about the last one; he may still be trying to dig his way out!

 In the old days they would send people to debtors prison or even put them to death (not in America though), treating them like criminals. In these more civilized times the government not only banned this kind of barbaric action but made into law rules to protect us.
 
 The bankruptcy code, also known by title 2 of the United States code (11 U.S.C.,101-1330),  has been put into place to protect the rights of the individual and corporations, giving them  a fighting chance against dept collectors, bankruptcy courts having the final word. There are basically two kinds of dept, secured an unsecured. Secured is where the creditor has some kind of collateral, be it your car, boat, house, or any material thing of value that they can take possession of if the dept is not paid. Unsecured is simply just the opposite, where the creditor has no collateral at all. In this case if the dept is not paid all they can do is use a collection agency where they call you day and night. Also you have to watch out with an unsecured dept because if the balance is large enough the creditor can put a lean on your property by getting a court order. This will prevent anyone from selling their house and moving away in an attempt to hide from creditors.

  If you or anyone you know is behind on payments there is something they should know. Since 1997 the government stepped in to stop dept collectors and collection agencies from harassing and threatening people in the middle of the night and using unethical collection practices. The Fair Dept Collection Practices Act (FDCPA) makes collections agencies follow certain guidelines. These are things collectors must do:

*Stop contacting you if the request is in writing and you dispute the dept in writing.
*Within 5 days of there first contact they must send you a letter stating the outstanding dept and creditor.
*If you want to dispute all or part of the dept the collection agency must stop contacting you until the creditor responds to your inquiry.
*If the collection agency wants to take you to court for the dept owed on behalf of the creditor it should summon you to the county where you now live or where you first singed the contract.
  Now, don’t be alarmed just because a creditor threatens to sue you because most times it is just meant to scare people into paying on depts.

 Under the act (FDCPA) there are many things collection agencies can't do, some of which are:
*No calling you at work
*Indicating they may be working with the federal government
*No calling your friends or family
*Implying that you may go to jail, garnish your paychecks unless the dept holder plans to do it

  Our government, in its infinite wisdom reasoned a long time ago that if they send everyone to jail there is zero change of collecting on any dept on behalf of a creditor.  You probably have heard of someone that has had there wages garnished, that is creditors who get a court order to take a piece of their check until the dept is paid. This is a common practice in states that allow wage garnishment and there is little you can do about it except for contacting an attorney. Did you know if you have an unpaid school loan or owe the IRS they don’t even need a court order to garnish wages, even in states that normally don’t allow this?  You can bet on it, they can also take your tax refunds!
 
As for personal property, in cases like a store dept (store credit card, personal check or payment plan) on an item like major appliances or furniture you may have bought they still need a court order to take it back, unless you let them in anyway. That’s right!  If you let them in without a court order they can come and get it back!  Many times if is just not worth it for them to re-possess items because they have to go the process of getting a court order and pay someone to carry it out. Also it may be harder to sell a used item that may be stained or damaged. One final word on this point, remember on secured loans and cars there is a definite risk of repossession if the loan (mortgage or car finance) is not paid. There is usually too much money involved here for creditors to loose so these payments should be on top of your ‘to pay’ list!

 If you find collectors are not playing by the rules you should call an attorney or the Federal Trade Commission's response center at 1-877-382-4357 (FTC-HELP)
You can check out FDCPS's website at www.ftc.gov/os/statutes/fdcpa/dcpact.htm for more info.

For your Information (FYI) - Bankruptcy

Finding The Best Forex Traders

The forex trading market has become the biggest financial market in the world today and online currency trading is now one of the fastest growing investments. There are many ways to find information on forex trading and online currency trading but finding the best forex traders can be difficult if you don’t know where to look.

With the growing popularity of forex trading and the information publicly available on the internet finding the best forex traders is no longer as difficult as it may have been. The currency analytical reports are now available to the public online and you can even access live data if you know where to look. Finding the best forex traders has become even easier and more and more people are beginning to reap these profits.

What Are the Best Forex Traders

Forex traders are the currencies that are traded by investors and the best forex traders are the currencies that are making the most profit for their investors. Currencies fluctuate constantly and keeping up to date with the state of these currencies used to be extremely difficult for small time investors.

The forex traders that are most popular and the ones that should be monitored closely are the “majors”. These are the EUR/USD combination, the USD/JPY, the USD/CHF, and the GBP/USD. These combinations change constantly and knowing where these forex traders stand will allow you to make the profits you choose from your forex trading.

Forex trading guides and forex training education programs are available for anyone looking to earn money from this extremely lucrative system and most of these programs are designed with beginners in mind explaining all the technical language in simple easy to follow terms.

Forex trading could help you change your future; why not invest in it now?

Finding The Best Forex Traders

Finding a Forex Broker

Foreign exchange is the largest financial market and everyday new investors plan to jump in when they learn of the benefits, that is, high returns on investment which is as high as 20% per month a month. However, inexperience and over enthusiasm can only do bad and bring in losses so, you’ll need an experienced forex broker to help you put your money in the right place at the right time.

A forex broker with a cool head, preferably with a long list of satisfied clients and experience is the right guy. Once you’ve found the right forex broker, all that’s to be done is, keep a regular check on your investments and it is advised to do it independently to avoid scams, because one can never know. So, how to find the right forex broker, is that the question? Well, good news, this article was written just for you.

In a market where cash flows faster than the F1 circuit, scams should come as no surprise even with reputed names and it’s your responsibility to be aware of where the money is and keep a check on the movement and earnings. Different people prefer different levels of risk and depending on that factor you might like to check how different forex broker work and then select the one from them.

Even before you start the search, remember to strike down brokers promising windfalls, they are scams without doubt and same for brokers who are promising huge profits or no risk. Trading always involves some form of risk because of the nature of the market which you must be prepared to incur.

Make sure to check the spread of the forex broker as that’s where they earn their money, read their terms of service carefully and check the services offered. There might be a lot of services being offered upfront at no cost but you might be billed for them later on, so make sure to sign up only for the services that are required.

A forex broker is a long term partner for financial success so, make sure to research their background well. All that’s to be done is put in a little effort by checking the credibility of the forex broker or company upfront for peace of mind in long term.

Finding a Forex Broker

Find the Right Broker

Most traders find that it is necessary to utilize a broker when making transactions on the FOREX exchange. A broker is a middleman that handles the actual buying and selling of orders for traders. The broker may be an individual or a company, they will often also offer advise and suggestions for their clients but they only execute orders based on the decision of the trader. Brokers earn their profit either through fees or commissions.

In the case of a FOREX broker they must be associated with a large financial institution to have access to the necessary funds for margin trades. When looking for a broker in the U.S. you need to be sure that the broker is registered as a Futures Commission Merchant by the Commodity Futures Trading Commission. This will allow you to protect yourself from fraud and abusive trade practices.

To start trading in the FOREX market you must open an account with a broker. There are a large, even overwhelming, number of brokers available on the internet. To pick the right broker yourself you need to be prepared to spend some time doing some research. This will help you understand the different services available from various brokers as well as their fees and commission structures.

As with anything else there is no better way to find out the truth about a broker than to talk to someone who actually uses them. Talk to anyone you know that is involved in the FOREX market and find out which broker they use. Then ask them what they like or dislike about their broker and any problems they may have had in dealing with them.

One way to test an online broker is to contact their help desk and see how quickly they respond to your questions and how helpful the answers are. Be sure to keep in mind thought that just as it is with many other things with FOREX brokers you may find that the level of pre-sales help is significantly better than the level of help you receive after you sign up for your account.

While customer satisfaction and safety is of paramount importance they are just a couple of factors that you should pay attention to. Just as importantly is how fast the broker can execute a trade and what level of slippage you will experience with them. Any broker that is online should provide automatic execution and be able to describe their slippage policy. They should be able to provide you detailed information on how much slippage you can expect in both normal and fast moving markets.

Another vital factor is your costs. What is the brokers spread? Is this spread fixed or can it vary. If you are looking at a mini-account do they use the same spread or do they have a higher spread. Are there any other fees or hidden costs involved? Be sure to keep in mind that the cheapest broker may not be the best, the broker that has slightly higher spreads might provide extra services that more than compensate for higher costs.

Everyone needs a margin account to effectively trade in the FOREX exchange, be sure to get the details of the broker's margin accounts and fully understand them before opening an account. What are the margin requirements? What method does the broker use to calculate margins? Does the margin vary depending on the day, the currency involved or event the account type? Many brokers have different margin policies for mini-accounts.

To be successful at trading FOREX you need good trading software and you need to be comfortable with using it. Most brokers will offer free practice accounts that function just like a real account and use the same software. Sign up for several of these and thoroughly test the software paying close attention to the reliability and speed especially when the market is moving quickly.

Some other things to look into are minimum balance requirements, interest on balances, and what currencies can be traded. You should ask about lot sizes and irregular lots and be sure to see if the client accounts are insured and to what level.

Find the Right Broker

Currency - Do you know what the biggest is?

Some people say that money makes the world go round. Whether you believe that or not, there’s no doubt that it’s important and useful to have some knowledge of the world’s currencies.

In the same way that English has become the international languages, US dollars have become the international currency, although there is no official global currency. The world’s economy – its production, its debt – is all measured and compared in dollars by businesses and world leaders. Global commodities such as oil and gold are valued in dollars on the markets.

In recent years, though, another currency has come to rival the dollar in importance. It is the euro, the new currency created by the European Union countries to act as a common currency within Europe. Although some countries, notably Britain and Sweden, have not yet joined the single currency, it seems likely that all members of the EU (and future members) will join within the next decade or so.

Beyond these two big currencies, though, there are plenty of others. 175 currencies are officially recognised by the United Nations – some large and established, some obscure and little-used. In the modern world, though, it is easy to convert whatever currency you use to almost any other by using a currency exchange, such as at a bank or a bureau de change. Although you may need to give them notice to get hold of more unusual currencies, almost all of the currencies of the world should be available to you on the currency markets, although they can be expensive.

How much of one currency you can get for another is measured on the markets using an exchange rate. Much like the stock market, exchange rates fluctuate depending on the amount of a currency that is being sold or bought at any one time. This means that some times are better than others for currency transactions, and it also means that it’s all too easy to find that a currency you’re holding has become worth much less than you expected. When in doubt, the best thing to do is probably to convert money back into your native currency and then put it into an inflation-beating savings account, as this will tend to defeat the fluctuations of the currency markets.

Currency - Do you know what the biggest is?

Choosing a Forex Third Party Signal Provider

With the growing popularity and easy access to the foreign exchange (ForEx) market, more and more people are drawn to it as their financial vehicle of choice.  Along with this popularity come all the extras.  This includes all kinds of software, trading systems for sale, books, videos, and third party signal party providers.  Today I’m going to touch on a few points when seeking out a third party forex signal provider.

            Before we get into choosing a provider we need to have a good understanding of what a third party signal provider is.  A signal provider is a trader or analyst that generates trades that in turn get placed on your account.  You can have several signal providers trading your forex account or just one.

            Like anything else, all third party signal providers are not created equal.  At first glance a trader may look like a home run.  That same trader may well end up completely torpedoing your entire account in one afternoon.    To help make sure this doesn’t happen we’ll set down a few guidelines.  These guidelines will give us something to look for when choosing our third party signal provider.

1.  The first thing I look at is weather the trader is a winner or a loser.  This may seem obvious to nearly everyone, but I often see losing signal providers with 50-100 people trading their signals.

2.  The next thing I look at is how long they have been a winner.  If a trader has been winning for a week that means nothing to me.  I recommend that you don’t trade any signal provider with less than a few months of results to show you.  Any one can place a few good trades one week and get lucky.  If you are going to be trading this trader’s signals they need to be established.

3.  Look at the max draw down.  This is the largest peak to trough draw down in equity that the trader has historically had.  Some traders refuse to take a loss.  This causes them to hold on to losing trades forever or until they turn to a winner.  Turning a loser into a winner sounds great, but it will eat up a huge chunk of margin and may never turn around.  If it doesn’t turn in your direction, you will have your entire account destroyed by a trader that could have taken a 30 pip loss but held on until it was an 800 pip loss.

4.  The first three are easy to look at.  They will be displayed right on the main screen of signal providers to choose from.  Once you get a few signal providers you are thinking of using, its time to dive a bit deeper into their history.

a.  Look at their actual trades.  Do they have a good win rate because they have opened a ton of trades all at the same time on the same currency pair?  They may have 20 winners in a row.  This looks great, but if you look a bit deeper you will see that its really only 1 winning trade places 20 times.  Not as impressive is it?
b.  Look at their draw down on individual trades.  Do they let a trade go 300 pips against them and then close it out when it hits 5 pips of profit?  This is a trader who lets their losses run out of control and cuts their winning trades short.  It’s not a trader that you want in control of your money.
c.  Do they add to losing positions?  A trader who constantly adds to losing positions hoping it will turn for them is not someone you want trading your account.

5.  Choose a signal provider that suits you.  Some traders may provide larger returns over time, but take bigger risks leading to bigger draw downs.  This might be OK with you.  If you are more conservative and cannot stomach large drops in equity you probably should choose a more conservative trader.

             These are just a few things to look for when choosing a third party signal provider to trade your forex account.  You should always trade a demo account before opening a live account with real money.  Remember it’s your account.  In the end you choose the signal providers, and you are responsible for what happens.

Choosing a Forex Third Party Signal Provider

Getting An Offshore Bank Account Via The Internet

There is no need to use the many middleman websites you will find via a search engine. Most of these are *bogus*, even the slick-looking ones.  More and more banks are offering offshore bank accounts direct. Just get a list of banks in the country you're interested in, and go to their web sites.

Opening an offshore bank account is like opening one in your high street; meet their criteria, and you're in. The only difference is you're not there in person.

The first thing is to find out whether they will accept citizens or residents of your country. For example, Swiss banks tend not to want US customers; they don't want the hassle from the IRS.

You will need to prove your identity, and the legal existence of your company, if you wish to open an account for it.

If applying by mail, DO NOT PART WITH ORIGINAL DOCUMENTS. Get copies notarised by a notary public.  Originals can be used for fraud or identity theft. Or they can get lost.

A Notary Public is a public officer commissioned by the State to perform notarial acts. A Notary is an impartial witness. The notary is empowered to issue an apostille.

Apostille - Is a method of certifying a document for use in another country pursuant to the 1961 Hague Convention. With this certification by apostille, a document is entitled to recognition in the country of intended use, and no certification or legalization by the embassy or consulate of the foreign country where the document is to be used is required.

In practice this means you provide evidence to this man that you are who you say you are, and/or that your company is what you say it is. You take an oath on the Bible. That's right, it's not a joke.

Due diligence: Banks need to show they have checked who their customers are, and how they came by their money.

Passport - If you apply by post a notarised copy is needed;

Information about yourself - name, date of birth, address, phone number etc.

Your economic background - documents showing how you earn your money (work contract, bank statement, tax return, company documents);

Origin of your deposits - documents showing how you earned them. If you sell a house, proof of the sale, a copy of the estate agent's listing, and so on;

Information about your deposits - how much you plan to deposit, and what you plan to do with the money once you've banked it.

If opening a company account, you send an apostilled copy of the certificate of incorporation to the bank providing your account, along with evidence of your identity, an application form, and any other documents they ask for.

If you want to get an offshore bank account, *consider visiting the bank in person*. If you can, travel to the country in question, and open a bank account there. You probably live near one tax haven at least. This especially applies if you are planning to deposit large sums; find out who you're dealing with!

NOTES:

1. Don't pay a middleman to open a bank account for you. See above.

2. Do not use services which offer bank accounts in Eastern European countries.

You are likely to be cheated, possibly by the bank itself. Avoid Latvia!

3. Avoid web sites where:

The business address is a P.O. Box, or a 'Suite';  <BR>
The site is on a free web host;  <BR>
The site is badly translated into English;  <BR>
You have the sense you are dealing with Africans or Eastern Europeans;  <BR>
The site has not been updated recently e.g. the Copyright reads 2001;  <BR>
They've only been running for a few years;  <BR>
They offer a range of dubious products - second passports, citizenships, anonymous debit cards;  <BR>
You cannot pay via credit card - it's much harder to get refunds on banker's drafts, Western Union and e-Gold etc; <BR>
They require you sign a confidentiality agreement, or you have the sense you are entering quasi-legal or illegal territory.

Bogus offshore banking sites can threaten to report you to your tax authority if you question their methods. It's an old con trick; get the mark involved in something illegal, then he can't go to the authorities.

Offshore bank accounts and company formations are just like their onshore equivalents; there's no big mystery about them. If you want a company formation, contact a local registration agent, who speaks English, in the country of registration. Then use another local agent to check what the first one's done.

Open your bank account yourself.

One last thing: *don't think that because your bank account and company are offshore you can do business in your home country, and/or with fellow residents, and avoid taxes there*.

You'll find plenty of websites that'll purport to help you, right up until the time you get a small brown envelope from your country's tax inspectors, inviting you in for a little chat.

Getting An Offshore Bank Account Via The Internet

Get Started With Wells Fargo Online Banking Today

Wells Fargo online banking offers many of the features you would expect a bank to offer. In addition to the ability to view your bank accounts, pay your bills, and keep up-to-date with your loan payments, Wells Fargo online banking offers customers something even more important: convenience.

That’s because when you choose to go the Wells Fargo online banking route, you no longer have to spend your lunch hour doing your banking. You can sit right at your desk or anywhere you have Internet access and find out everything you need to know about your money. And you can find it out regardless of the hour or the time zone you’re in.

Need to make a mortgage payment but don’t have your coupon book? No problem. Away on vacation and had a little too much fun and now you need to transfer some money from your savings account over to your checking account? That’s no problem either! Want to calculate loan payments or trade stocks and bonds? Once again, when you’re set up with Wells Fargo online banking, you can do almost anything you would normally do in person. You can even order new checks and get stock quotes. In addition to consumer and business finances, Wells Fargo also provides investments and insurance.

Running a business is hard, but your business banking doesn’t have to be. If you have your business banking set up with Wells Fargo, you’ll be happy to know that the same activities and monitoring capabilities are available for business customers.

If you haven’t already signed up, you’re missing out on an incredible opportunity. Anyone who has an account can start taking advantage of the many Wells Fargo online banking features right now. There’s no cost to enroll in this program and you need not worry about security either. The Wells Fargo online banking site is secure and you can confirm this by looking for the yellow security padlock on the bottom of the screen.

Get Started With Wells Fargo Online Banking Today

Four ideas you can take to the bank!

If only you could snap your fingers and find that you have increased your income! It may not be that easy, but it is easier than you think to increase your income! Here are a few ideas to help you increase your income.

But if you’re reading this while you’re on a website that highlights secured loans, you’re probably wondering what increasing your income has to do with a secured loan. There are actually many reasons, so you’ll have to read on.

But first, one of the ways you may want to increase your income is by finding a part time job to do in your spare time from the comfort of your own home. For example, you may increase your income by selling things on eBay or by working over the Internet to design websites for people. This way, you can keep your current job but build up some additional income. Who knows? You may eventually end up becoming so busy that you have to quit your day job!

The second thing you can do to increase your income is to invest in the stock market. This is not as scary as you might think and it involves the same principle that you know from owning a home. When you bought a house, how did you think you would make money on it? Simple: Just by hanging onto it for some time, many homes rise in value over time. It’s the same with the stock market. Sure, not all homes (and not all stocks) rise in value. But if you give even half the thought choosing stocks that you gave to choosing a house, you should find one that should generally rise. But the key is to hang onto it. You don’t sell your house every time the market fluctuates! In fact, you probably don’t know or care how much your house is worth until you’re ready to sell it. It should be the same with the stocks you buy… and sell.

The third thing you can do to increase your income is to get a secured home improvement loan. As you already know, your house is an investment and if you can do something to increase its value, you should! Getting a home improvement loan is an easy and affordable way to increase the value of your home so that when it comes time to sell your home, it will be worth more.

The fourth way to increase your income will surprise you. Consolidate your debts! Get a debt consolidation loan to pull all of your outstanding debts together and put them in one secured loan. The interest rate will be less, the monthly payment will be less, and the monthly payment will be fixed. A lower rate and payment will mean more money for you and a fixed payment will mean it will be easier to budget!

Wow! There’s four easy ways to increase your income today. What are you waiting for?

Four ideas you can take to the bank!

Forex vs. Stocks

First of all, what is Forex?  It is a short version of FOReign  EXchange.  It is also called FX and 4X, but regardless of  the name you use, it is the largest financial market in the world.  From 1997 to the end of 2000, daily Forex trading has skyrocketed from $5 billion to over $1.5 trillion..

Let’s look at some reasons why Forex trading is rapidly gaining popularity over other markets.

Trading hours:  The Forex market is traded 24 hours per day from about 7pm EST on Sunday until about 3pm EST on Friday.  The stock market is only traded Monday thru Friday with limited hours.

Liquidity:   Forex markets trade over $1.5 trillion each day while the stock market only around $200 billion. There are only 7 major currencies traded on the Forex while there are more than 40,000 stocks from which to choose.

Commissions: No commissions are charged on the Forex while the stock markets charge high commissions and transaction fees.

Leverage:  Forex Market offers great leverage power.  Brokers usually offer from 100:1 to 400:1 leverage.  This means a trader using 100:1 leverage you control $100,000 with only $1,000 margin.  Stock market investors pay full price for stock when purchased unless they have a margin account and the leverage with margin is usually  only 2:1.

Low Minimum Investment:  The minimum initial investment to open a Forex trading account is as low as $300.  Most stock brokers require several thousand dollars as a minimum to open an account.

This is the perfect market. Foreign Exchange trading has long been recognized as a superior investment opportunity by major banks, multinational corporations and other institutions.  Now the internet has propelled Forex trading among private individuals tremendously. Trade from home, the office, or virtually anywhere in the world.  Trade virtually anytime day or night.  Work part time or full time.

It is obvious that the Forex Market offers a substantial opportunity to those willing to invest energy, focus, and a little money.

It is difficult for a new Forex trader to become successful in the Forex market without understanding the basics and how it works.  This knowledge can be obtained in a free Forex training program.

Forex vs. Stocks

Chase Online Banking

Chase online banking is a small business’s most useful financial resource. Most small businesses start with a great idea. The person behind the idea feels confident that the idea is sound and that there’s a demand. He or she then sets out to turn the idea into the latest must-have craze. What many small business owners don’t know a lot about is how to handle the company’s finances. That’s where Chase online banking can help.

Small business owners who enroll in Chase online banking have access to a number of useful features to help them better manage their businesses. The biggest benefit is the ability to log in to any account that is linked to the business (even personal and investment accounts!) at any time, day or night, seven days a week. While certainly useful, managing account balances is just one of many things small business owners can do while online.

They can also view transactions as far back as 90 days or check to see which checks have cleared and which have not. They can pay bills online which is faster and less expensive than manual methods. Knowing that online checks and deposit slips can be printed anytime they’re needed removes one of the fears that people have about Chase online banking.

Small business owners can request to be notified via email, voice mail and even by text message anytime a change takes place in any of the accounts being monitored. They can order checks, wire money, and transfer funds and so much more.

Chase online banking also enables small business owners to download monthly statements straight into the popular small business accounting software packages, which makes the daunting tasks associated with accounting much easier to handle. They can use Chase online banking to set up direct deposit for themselves and their employees and that’s a nice benefit to offer when trying to attract valuable employees. There’s even more and it’s all explained on the online banking demo so take a look today!

Chase Online Banking

Can You Choose the Type Of Bankruptcy Filling?


In general, you can choose the type of bankruptcy for filling, under certain circumstances you may only eligible for certain type of bankruptcy filling. In most cases, debtors will choose chapter 7 for filling because it&#39;s fast, effective, easy to file, and doesn&#39;t require payments over time. Chapter 7 bankruptcy usually takes the least time to complete. Other common types of bankruptcy filling include chapter 12 and chapter 13.

Yes, you can choose the type of bankrupt filling but you may not eligible for it. Let see the criteria of filling for a few common bankruptcy types.

<b>Bankruptcy - Chapter 12 </b>

If you are a farmer or a fisherman, for instance, you may consider chapter 12 filing. Chapter 12 bankruptcy filling is tailored for &quot;family farmers&quot; or &quot;family fishermen&quot; with &quot;regular annual income&quot;. It is more streamlined, less complicated, and less expensive than chapter 11 (bankruptcy filling for large corporate reorganization).

Chapter 12 has allowance for situations in which family farmers or fishermen have income that is seasonal in nature. Thus, debtors with seasonal income will find it to be advantageous to file their bankruptcy under chapter 12. In additional, Relief under chapter 12 is voluntary, and only the debtor may file a petition under the chapter.

<b>Bankruptcy - Chapter 7</b>

Beside the farmer and fishermen, most ordinary debtors will choose chapter 7 as their bankruptcy filling type. The key factors of the popularity of this bankruptcy type are it does not need payments over time, easy to file and less expensive. However not every persons who are seeking of getting debt free by filling bankruptcy will be eligible to file under chapter 7. To be eligible for chapter 7 bankruptcy filling, you must meet the below criteria:
<ul>
<li>You must pass the median income test:
You calculated average income must not more than the median income for your state (You can find the median income by state information from www .usdoj.gov/ust; click the Mean Testing Information).

</li>
<li>If you failed the median income test, you second chance for chapter 7 filling is on mean test:
Mean test is calculated based on your disposable income. To get your disposable income, calculate your average monthly income as describe in above paragraph. From that amount, subtract your allowed expenses (stated in IRS) and monthly payments you will have to make on secured and priority debts. If your monthly disposable income after subtracting these amounts is less than $100, you pass the means test, and will be allowed to file for Chapter 7.

</li>
</ul>
<b>Bankruptcy - Chapter 13</b>

You will be forced to file your bankruptcy under chapter 13 if you are not eligible for chapter 7. Or if you have file bankruptcy before under chapter 7, then you need to go for chapter 13 for second bankruptcy filling.

Chapter 13, which has also been known as a wage earner&#39;s plan, is an interest-free repayment plan where a debtor repays at least some of his or her unsecured debts with regular payments over five years.

In chapter 7 filling, debtors need to liquidate their assets to pay to their creditors (creditors will share the amount from the liquidation); whereas, the debtor generally can continue to live in his or her home so long as the debtor complies with the terms of the Chapter 13 arrangement. This is one of the advantages of chapter 13 over chapter 7 bankruptcy filling.

<b>In Summary</b>

If bankruptcy is your ultimate option to get out of debts, you can choose the bankruptcy type to be file against, but you may not eligible for the bankruptcy type of your choice if you do not meet the required criteria. The best way to confirm it is check with bankruptcy attorney on which bankruptcy type you are eligible for.

Can You Choose the Type Of Bankruptcy Filling?

Buying Currency in Iraq: A bargain or not?

If you do an Internet search for companies that trade in currency, you may be surprised to find that there are dozens, if not hundreds, of web sites dedicated to promoting the purchase of the Iraqi currency. Many of them tout it as a get rich quick scheme. Others say that it is a patriotic way to support the new democracy of the Iraqi people and their government. Still others base their marketing on the notion that buying the Iraqi currency (the dinar) is like buying a penny stock – it is so cheap that you can afford to buy huge quantities, so that even a slight increase in value will guarantee huge yields on your original investment. But buyers beware, because there is no proof that the dinar will make a comeback anytime soon.

Here are a few things for would-be investors to consider before venturing into ownership of the dinar. First of all, there is still no official and organized market for trading the Iraqi currency. This means that even if you want to buy and sell the dinar as a currency trader, there is no way to ensure that you will be able to find a market for it. Without buyers and sellers coming together in an organized fashion, the currency lacks liquidity – if you need to sell your dinars to convert them to dollars, you may have to wait days, weeks, or months to find a buyer to take them off your hands. And without such liquidity, those who broker the notes will be taking big commissions, to make it worth their while. All of these things will factor into your ability to make a profit from trading the currency.

Many who advertise sales of the dinar will not buy the same currency. That should make you somewhat skeptical, because if it is such a good deal, traders would not only sell dinars, but also be interested in purchasing them. And they claim that even a fraction of an upward movement in the currency can make you a millionaire. That may be true, but it is no insurance that the currency will go up. And meanwhile, currencies of other, more economically stable countries in the world – like Turkey, for instance – are cheaper to buy that the dinar, so why not invest in those currencies instead? The fact is that Iraq’s economic outlook is bleak, and the possibility of making huge profits by buying and selling the dinar remain slim – at least for now.

Of course if you want to show your support for the country – and buy a souvenir for your grandchildren in the process – there is nothing at all wrong with buying dinar notes, as many of them as you want. They are very inexpensive – you can buy them for pennies – and they have some historical value as keepsakes from an interesting time in the long story of Iraq’s civilization. But to buy them strictly upon their upside price potential is another thing altogether, and the inherent risk of such a purchase makes it more of a gamble than an investment.

Buying Currency in Iraq: A bargain or not?

Buying And Selling In The Forex Market

Today I would like to talk with you about a few very important rules of investing in the Forex market.  If you follow these rules, you will most surely come out on the winning side in the long run.

Rule number 1 is never risk more money than you can afford to lose.  No trader is perfect, you are going to have losing trades.  There is no system you can learn that wins all the  time. So expect to lose some money.

Rule number 2 is to cut your loses short and let your winners compound to greater gains.  The secret to not losing your shirt is to use stop loss orders consistently and not let your emotions rule your trading.  It's better to lose a little and get out of a trade than to hope that things will turn around and suffer a devastating loss.  If you are using the proper techniques and strategies on how to trade, you can usually tell right away if your trade is going in the right direction.  If it's not, get out of the trade.  There are always more opportunities to get into the market and try again.  So be a smart trader, not an emotional one.

Rule number 3 and probably the most important rule in trading Forex  is to always use stop loss orders.  Before you even consider starting any trade, you should have a good idea in your mind of the point at which you think a trade might be going in the wrong direction and set your stop loss order there, along with your entry order.  This way you automatically prevent a potential loss from going too far.  Stop loss orders are free.  They don't cost you anything and they may save more than your piece of mind.

Rule number 4 is to know what your exit point will be before you get into a trade. There are many good reasons for this.  It's easy to get sidetracked when you are doing live trading and get caught up in all the excitement. Chances of making bad decisions go up dramatically if you do not have a predetermined exit point.

Rule number 5 is to know when to quit.  Don't become a gambler with your money.  If you start having a streak of bad luck, get out of live trading and go practice with a demo account until you gain back your confidence.

Buying And Selling In The Forex Market

Business Banking Explained


No matter where you are within your business, just beginning or have been in business for many years, one thing remains the same; your business needs a banking institution that is solid and great for businesses. Within this article, we will look at some of the main items you should consider when looking for a bank account for your business. There are many things you should think about when opening a new bank account for your business, each one of them should work to benefit your company in all ways necessary.

For starters you should look at some of the basics, first consider what type of company you are, limited or sole trader. For a limited business, you will be required to obtain a business bank account, while a sole trader has the ability to use their personal bank accounts for any activity within their business. For those who insist or are required to have a business bank account, you should consider a institution that has a team in place specifically for businesses.

Consider any fee’s that are associated with the bank account for example, overdraft fees or transaction feeds. Also, consider if the bank offers a period of time that is fee free for new accounts, if they offer this it is wise to take advantage of this offer. You should also look at any incentive offers that the bank gives you, for example, charge cards, free statements, or credit cards. Always check the interest rates offered on these account and consider if the chosen bank has internet banking, this is important because it allows you to have up to the minute information regarding various aspects of your account. Businesses will benefit from internet banking because it allows you to do your banking at your convenience, which we know that many busy business owners frequently do not have the time to visit the bank.

When you have finally sorted out the proper banking institution for your business it is time to open your account. There are many things you will have to bring to the bank when you go, this documentation could include your business plan or other various details in regard to your business. Additionally, you will have to take along your incorporation certificate, any items necessary to prove your identity (Photo ID, utility bills, and perhaps your passport), and a list of those who are authorized to sign any company checks.

Business Banking Explained

Business Banking - An Overview

Making a success of your business depends on planning and judgement. ‘The bottom line’ is all about managing your finances wisely, whether that means sourcing the funding you need to start up or keeping on top of your accounts.

Setting up or running a business calls for a separate account. Not only will this make your accounting a lot simpler, but also business accounts are tailored specifically to the needs of business clients. Many have a specialised team to deal with business accounts, and can offer help in the form of start up packs and individual advisers. Business accounts differ from personal accounts in that you will normally be charged for transactions – for making deposits and withdrawing funds, for example.

This guide gives you a broad overview of how to open and manage your business account, including:

1. Getting The Right Account For Your Business

How to choose and open your account – what factors to consider and what information you will need.

2. Finding The Finance You Need

Common ways to source funding to set up and run your business, including grants, borrowing, loans and overdrafts.

3. Keeping Your Accounts Healthy

Good practise for managing your account, including info on online banking and finding an accountant.

4. Professional Advice

How to find expert advice on accounting and tax issues. This section includes web addresses for professional bodies.

Having a good relationship with your bank will make a big difference to the success of your business, whether that means extra support when you’re setting up or negotiating an overdraft to smooth your cash flow. Bank business managers can provide a useful source of advice and support – it’s likely they have a good knowledge of the market as well as insight into businesses similar to yours. Based on your individual needs, they should be able to suggest ways to make your business banking more efficient, as well as offer practical solutions to make the most of your account.

As well as your banking contacts, there are a wealth of other sources of help and advice. The government runs several schemes to help businesses get off the ground and keep running – from enterprise loans to business mentors who can guide you through the early stages of your project. Starting a business is a real challenge, but with good planning and sound management, you could turn your dreams into reality!

Business Banking - An Overview

Business Banking – Professional Advice

At the beginning, you will be offered plenty of advice and support to set up your business – enterprise schemes often run seminars and give out free software to help you manage your accounting, for example. Local mentoring schemes can provide a useful way to make contacts with other people who have set up in business and excellent chances to network.

When it comes to tax and accounting, however, you may want to enlist the help of specialists. Particularly if your business has a large turnover or complicated finances, using an accountant can make a world of difference. While some people are put off by the thought of paying fees to accountants, the costs involved can actually be relatively low, and often your tax bill can be significantly reduced. Taking on an accountant may save you money as well as a lot of hard work! Some offer additional services, such as advice and auditing that could help to make your business more profitable.

If you run a business you are legally required to keep records of certain things. For example, if you employ staff you will need to keep PAYE records, and VAT records if you are VAT registered. All businesses must submit a tax return every year – you can now do this online. If you have an annual turnover of over £5.6 million you are legally required to have an annual audit, which must be carried out by a qualified and registered auditor.

Choosing an accountant is a matter of knowing what you want from your relationship, and finding someone whom you trust to do the best job. While personal recommendations from family and friends are a frequent reason for choosing an accountant, you may also want to consider whether they have particular experience in your sector, how much the practice charges, and what additional services they may be able to offer you.

Qualified accountants must be registered with one of the professional bodies that regulate them:

The Institute of Chartered Accountants (in England and Wales, Scotland or Ireland respectively)
www.icaew.co.uk
The Association of Chartered Accountants
www.accaglobal.com
Chartered Institute of Management Accountants
www.cimaglobal.com

Tax is an immensely complicated subject, but the Inland Revenue do attempt to make it as easy as possible to understand the basics. They offer a starter pack for new businesses, and a helpline for the newly self-employed. Check www.hmrc.gov.uk for full details.

Business Banking – Professional Advice

Business Banking – Getting The Right Account For Your Business

While many people turn to their usual bank when opening a business account, it’s advisable to shop around. There can be some advantages to using the same bank for personal and business accounts – your manager may be more supportive if you are known to the bank and have a sound financial track record. However, each bank offers different services and has different bank charges.

Many banks are currently offering free business banking for a set period – six months or a year – as an incentive. There are also a variety of support packages, such as free business software and dedicated advisers to help with your business plan. Choose a bank that will give the best all round deal for your particular business – you may also want to consider corporate ethos and ethical banking when deciding which bank to take your business to.

Choosing Your Accounts

Depending on your business type and size, you may need different accounts. If you are likely to be making frequent transactions, for example, you may be better off with an account that charges a fixed monthly fee, rather than a fee per transaction. If you need to process debit and credit card payments, you will need a merchant account.

For overseas trading, you may want a foreign currency account. As with personal accounts, it may be worthwhile to hold more than one type of account – for example, a current account for day-to-day banking and a deposit account for investing profits. There’s nothing to stop you having different accounts with different banks – although you might get a better deal if you hold all your accounts with one.

Opening Your Account

You will need to set up a meeting with a business advisor to open an account. In order to prevent money laundering, you will need to provide certain information at this point – including proof of identity such as driving license or passport, plus proof of your address and signature. The advisor will want to see a business plan and details of your financial planning. There are many schemes that offer help with putting together a business plan. Make sure you have as detailed a plan as possible when presenting it to your advisor – this will help him or her to offer the best services for your needs.
You will also need an account opening mandate – the bank will provide this.

For limited companies you will need a certificate of incorporation.

Business Banking – Getting The Right Account For Your Business

Bollinger Bands – How to Use Them to Make Massive Profits

Bollinger bands will help you to predict big trending moves, act on big trend reversals and finally, time trading positions with greater accuracy for bigger profits.

Here we have related Bollinger bands to the currency markets (as it is here that they are most useful) - but they are useful in all financial markets.

What are Bollinger Bands?

Developed by John Bollinger, Bollinger bands are volatility bands drawn around a simple moving average.

You calculate Bollinger bands using the standard deviation of price over the same period as moving averages and plotted as lines above and below the moving average.

As moving averages have been traditionally used to identify the underlying trend, Bollinger bands combine this with the volatility of the individual market (or the standard deviation) – to plot a trading envelope.

The distance between upper and lower Bollinger bands reflects the volatility of the market traded.

As prices force themselves away from the longer-term average, the standard deviation rises - and thus the bands will fluctuate in varying amounts, away from the average.

Why Bollinger Bands Work

In any market, the value of currency traded tends to rise slowly over the longer term.

Prices may spike short term, but will normally dip back to the longer term moving average (the centre band) - which represents realistic value.

The volatility of the outer bands therefore gives us an indication of how volatile prices are - and how far away price is from longer-term value.

Most price spikes are caused as much by trader psychology, as the supply and demand backdrop - and this scenario is reflected in the concept of Bollinger bands.

Why are Bollinger Bands so useful?

Bollinger bands perform three major functions for traders:

1. Spotting a Breakout and New Trend

Markets move between low volatility trading ranges, to high volatility trending moves.

When a market makes trades in a narrow range, the Bollinger bands will narrow together and this shows a market with extremely low volatility - however this is a warning that a high volatility trending move is likely to follow.

When prices break above or below the upper or lower band, it is an indication that a breakout and trend is about to develop - traders will then take a position in the direction of the breakout, and try to ride the trend.

2. Timing Entry Levels in a Trend

We all know long term currency trends last for months or years - but we need to get in at the best risk / reward level.

Bollinger bands will help get you in to the trend and time your entry.

All you do is watch for dips toward the centre band - and enter in the direction of the trend - it really is that simple!

To time your entries with greater accuracy, and filter out “false” breaks we recommend using a momentum indicator - such as stochastics, to confirm the move.

3. Spotting Market Reversals

When the price touches the top of the band, a sell is generated, and prices should revert back to mean, or the middle moving average band.

If the price touches the bottom of the band, traders can buy a currency, assuming that it is oversold, and will rally back towards the top of the band.

The spacing, or width of the band, is dependent on the volatility of the market, but gives traders a clear indication of where prices will go, and when to enter.

A Word of Caution!

Bollinger bands are a useful tool - but need combining with other indicators, as with any single indicator, they should not be used in isolation.

We personally feel Bollinger bands should be used with basic charting, to get the big picture - and the best timing indicator is the stochastic as stated, to filter out “false” signals

Bollinger Bands – How to Use Them to Make Massive Profits