New Info Blog

With oil prices seemingly reaching new highs daily, a lot of Forex market participants have been trying to use this fact as a proxy for currency trading. General consensus is that some national currencies are correlated, to some degree, to major commodities and can be taken advantage of. Most experts, however, have never been able to agree on which currency would be the best crude play. Until now.

Number of oil rich countries are small states located around the Persian Gulf. Outside of crude production, their economies are not large, in line with small populations. This countries formed a Gulf Cooperation Council, both economic and, to a lesser degree, military organization. Saudi Arabia is the largest member state, with Kuwait, Qatar, Bahrain, United Arab Emirates and Oman making the list. Yemen is a pending member.

Since oil is priced in US dollars, respective currencies of the member states have been pegged to dollar. Over last few years this arrangement created certain problems for the Council states: very high crude prices and weak dollar caused huge inflation pressures. In spite of that, central banks had to lower rates in line with FED, due to dollar pegs, furthering inflationary threats. For example, Qatar’s inflation exceeded 13% in 2007. Not a welcome development.

After years of discussions and planning, central banks of Gulf Cooperation Council,
have approved a draft of a charter for a central monetary authority. This agreement moved the group closer toward a goal of establishing a single currency for the member states. The launch of the new currency is set for 2010, but most experts expect it to be delayed. In project of this complexity and scope working out all the issues almost always takes longer than expected. We all remember Euro.

For example, Kuwait severed its dollar link last year and started tracking its dinar against a basket of currencies to help ease inflation that was driven in part by higher import costs – a decision that could be a major obstacle to reaching the 2010 target date for monetary union. Kuwait has not disclosed composition of the currency basket used for the new peg. Every member would also have to cap inflation within certain range, before the the union can proceed.

Despite set backs like this, at a recent meeting in Qatar, central bank governors reaffirmed the aim of monetary union in 2010 as Gulf states sought to avert additional unilateral decisions on currency policy that could jeopardize the project. Gulf Cooperation Council countries would “push ahead with the implementation of single currency on time”, stated one official.

Once the new currency is introduced, it would likely become available for trading very quickly. Most brokers would like to capitalize on the initial interest as soon as possible. Cost of trading would be another story, however, with rich spread and some illiquid time periods throughout the trading day. Nonetheless, it is certain there are scores of traders eagerly awaiting this yet unnamed currency.

Gulf Cooperation Council members believe that new monetary union will help curb inflation. Among many other stated benefits are increased economic cooperation in the region, easy in money and goods flow. Single currency should also place Persian Gulf States in better position in increasingly border less world economy. And perhaps help them to prepare them for the next big step – life after oil.

Mike P. Kulej is a Chief Forex Strategist for Spectrum Forex LLC. He specializes in mechanical trading systems as explained on http://www.spectrumforex.com Spectrum Forex LLC offers numerous services to individual traders. With questions and comments e-mail him at kulej@spectrumforex.com

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Day trading can be a thrilling way to make money. But it’s more challenging than most beginners think. Here are some day trading tips that can help the new trader as well as the more advanced trader to achieve your goals faster.

First: Be careful not to over trade. The majority of the time the market is a random walk – meaning that it’s moving without any rhyme or reason. Amateur traders taking small positions in the market are behind these unpredictable movements.

These amateurs do not affect the long-term movement of the market. The professionals, with their large volume and their willingness to hold positions longer, are the ones who create sustainable moves in the market that can provide meaningful profits.

Many people are drawn to day trading because of the excitement of the business and the potential for big, fast profits. This attitude sets up the trader for failure. Day trading does not have the frantic energy of a video game. Most successful day traders sit by the sidelines for long periods of time simply waiting for a high-probability setup to occur. The pros trade much less frequently than the amateurs think.

Second: The trend is your friend … sometimes.

The truth is that the trend is a fair weather friend!

It is your friend early on. But trends get run out of steam.

Therefore there are 2 times to trade when you can put statistics on your side:

When a new trend is just starting.

When a trend has run its course.

Trading only at these 2 times allows you to put the statistics of the “edge” of the bell curve on your side. Trading in the middle of a trend, puts you solidly in the middle of the bell curve where anything can happen.

Third: Join free trading rooms for day trading tips but do exactly the opposite of what you hear!

I’ve participated in many chat rooms over the years, and have received a tremendous benefit from them. But the benefit did not come from listening to the teacher. It came from watching the comments of the participants as they shared what they were doing at any given time in the market.

The vast majority of the time they were dead wrong in their approach.

They reveal the mind of the unprofitable retail traders. It’s almost eerie how the amateurs think alike when it comes to trading the markets. If you listen to them long enough in the trading rooms you’ll start to notice the patterns of the things they do consistently. Do the opposite and win.

As an example, one of the most common problems amateur traders have, is resisting the urge to fight the trend. You’ll often hear comments such as: “The market can’t go any higher than this.” “This market just has to turn around at this point.” “The market is definitely way over-extended now.”

It is absolutely amazing to see how amateurs habitually trade against the trend in an effort to find tops and bottoms. They are constantly looking for the market to turn around. As is always the case, you can profit tremendously by taking the other side of their trades.

Day trading can be extremely rewarding, but to be successful you must stand aside from the masses and avoid the herd instinct that drives so many. These 3 day trading tips can help you be among the minority who succeeds.

Dr. Barry Burns is the owner of Top Dog Trading and writes a Day Trading Blog. He offers a 5-day free video trading course which provides more day trading tips to help traders become successful.

He started his study of the markets under the direction of his father, Patrick F. Burns, who became independently wealthy through trading and had over 70 years of trading experience before passing away in 2005.

He has been the featured speaker at DayTradersUSA, and developed a 5 Day Course for WorldWideTrders.

Dr. Burns has been a headlining guest speaker for the Market Analysts of Southern California, given seminars around the country at many Wealth Expos as well as many Traders Expos, been interviewed on the Robin Dayne “Elite Masters of Trading” Radio Show, and is the former moderator of the FuturesTalk chat room.

He has a doctorate in Hypnotherapy and is a certified NLP practitioner, and therefore able to help people with the psychology of trading.

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When you are reviewing your credit reports, you probably notice that there are erroneous records. Sometimes, these errors are caused by mistakes made at the credit bureau but they could be the results of identity theft.

In either case, such mistakes could hurt your credit score. If you believe you may have been a victim of identity theft, you should take action immediately to reduce the damage:

1) Contact the three major credit bureaus

You will want to talk to the fraud department and explain to them that you have been the victim of identity theft. Request that an “alert” be placed on your file. This will let anyone looking at your report know that you may have been the victim of fraud.

Doing this also allow you to be notified any time a lender asks to look at your file. Each time a lender does look at your file, it may be an indication that the identity thieves are trying to open a new account in your name.

When the lenders see the alert on your file, they will likely deny the thieves credit. In most cases the criminals will stop trying to use your identity after too many unsuccessful attempts.

Most alerts on your file last 90 to 180 days. However, if the identity thieves are very persistent, you can extend this period to several years by asking the credit agencies for an extension of the “fraud alert” in writing.

In some states, you can request your credit score and credit report to be freeze. This means your credit report is accessible by you and your existing creditors only.

If you have been the victim of identity theft, you are entitled to a free copy of your credit report. Be sure to take advantage of this offer so that you can check exactly how your credit has been affected.

2) Call the Federal Trade Commission (FTC)

FTC has setup a hotline at 1-877-438-4338 to help customers deal with fraud and identity theft. You can also use the complaint form at www.ftc.gov/idtheft. The FTC enters Internet, telemarketing, identity theft and other fraud-related complaints into Consumer Sentinel, a secure, online database available to hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.

3) Contact the police.

Since identity theft is a crime, you need to file a police report so that you can help the police potentially catch the criminals responsible. Contacting the police will also give you a paper trail and proof that a crime has been committed. This will make it easier to repair your credit if identity thieves have damaged it.

4) Notify your creditors

You should contact your creditors or any creditors that the identity thieves have opened an account with as soon as possible. Explain your predicament to their security department. Most likely, you have to close your accounts or at least get your passwords changed to protect yourself.

You will not be held responsible for the charges incurred by the identity thieves as long as can prove that you are the victim. This can be tricky and you probably need some time to work with the police and the creditor security dept for a solution.

In the meantime, your credit score will likely take a dip but it is better than paying back a huge amount of debt that you are not responsible for.

If you do not want to be a victim of identity theft, check out this article at my blog “How to Make Yourself Virtually Identity Theft PROOF in 60 Minutes or Less.

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In over 15 years of doing marketing communications work, I’ve picked up quite a few tips on how to best get the job done. From start-ups to Fortune 100 companies, my three marketing secrets make a difference.

1. Consistency Is Key If I had only one piece of marketing advice to offer, this would be it: The secret to effective marketing is consistency, plain and simple. A press release here, an ad buy there, a brochure that looks one way and a website that looks another … these hit-or-miss efforts are doomed to failure and are just a waste of your money.

TIP: Don’t dabble at marketing. If your budget is limited, invest in a good, solid marketing plan and then consistently execute just one part of it until you can afford to do more. Don’t let it fall down on your list of priorities. If you think marketing can be of value to your company, start doing it, even in a small way. And then don’t stop. You’ll see results.

2. Amplify What business You Different As teenagers we desperately want to blend in with our peers, never imagining we’ll one day embrace the very partnership we worked so hard to hide. In business, marketing yourself and your brand is much easier if you have memorable qualities that stick in people’s minds. Don’t be afraid to be distinctive. Barbra Streisand’s strong nose, Warren Buffett’s frugality, Cary Grant’s elegance – these qualities are entirely authentic but hard to duplicate.

TIP: Take a moment to think about your business persona or company. What do you have that others don’t? If you’re not sure, do a quick review of competitor websites or think about comments you’ve received from others. Now how can you amplify those qualities?

3. It’s All About Third-Party Credibility Okay, now I am going to tell you some gossip. Did your ears just perk up? Would you have had the same response if I had said, “Now I am going to tell you all about me.” Probably not. What someone else says about you will always carry more weight than what you say about yourself. When thinking about your company’s marketing, look for ways to build your reputation with others. Reporters, tax bloggers, customers, business and government leaders are all examples of influential audiences who could be spreading your message. It’s your job to make sure they know and understand what makes you special.

TIP: Take a look at the marketing you’re doing. Are you missing any important audiences? What one thing can you do to reach out to them?

This article may be reprinted when the copy right and author bio are included.

(c) 2008 Barbara Wayman, APR, BlueTree Media, LLC.

Barbara Wayman, APR, president of BlueTree Media, LLC, publishes The Stand Out Newsletter, a free monthly ezine for people who want to know how to leverage the power of marketing and public relations. Get your free subscription today at http://BlueTreeMedia.com/ezine.html

Copyright 2008, BlueTree Media, LLC. All rights reserved.

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Struggling to find a sincere home based business and are in desperate need to make more money online? Many have probably come across buying products that claim to show you exactly how to make money on the internet in today’s day with no experience or skill, but later figured out that you didn’t make a dime from them as a result. So in despite, they claimed that the product or business opportunity were scams and decided to post negative comments on all of the forums on the internet.

The real truth is without the desire, hard work and time that you dedicate into the business that you joined it will never guarantee you success. This is the honest truth behind any home based business owner who may have failed at the internet marketing aspect from the home based business arena all have denied this statement. The content of the sales page may be deceiving as it is used to get people to join their business opportunity. A newbie who has no idea on what home based business to join can get hyped by the persuasive sales letter that claim that you can make a lot of money with very little effort to dedicate into the actual business model. I am not saying that the website owner is a scammer but they will always claim the benefit and feature of the product without telling people that it really takes hard work and time and these are the only real way that will lead you on the right path to success online.

There are a couple of websites that point out which businesses are sincere out there, but others avoid it because people don’t want to buy into a business because they hate the idea that they have to put hard work in order to make money online. For those individuals that are looking for a home based business opportunity are actually the lazy type, they have this wrong idea that they can put less of their time and effort into their business but gain a large amount of reveneue from it as a result. Working for your own business can be harder than working for someone else and the income is not a guarantee either. The reason many people do fail at internet marketing and never make any money is because they want the easy way out which is to put less time and effort and expect to make a lot of money, otherwise they would quit and look for something new that comes along.

As I mentioned above, with no desire, time, and effort than making money online is impossible to achieve. People are always falling for the hype that other companies feed them and believe the product that they have purchased can help make it easier for them to make money quicker which is not true. The successful ones are the ones that see the world as it is and not some fantasy, they believe that working hard and the desire to drive their business the farthest are the ones that benefit the most because they try to make their businesses a success instead of waiting for something to happen. If you are not the hard working type than a home based business is something that is probably not for you.

I have investigated some of the internet business scams out there and have come across the ones that are the most successful and which have made me successful online as an internet entrepreneur.

Almir Bojkovic is a successful online entrepreneur who works with people from around the world. He has a passion for helping others achieve their goals and dreams. To learn more about Almir Bojkovic visit http://www.spreadingyourcashflow.com

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As a follow up to my previous posts on this blog, I’ll continue to assert the fact that Nigeria is a force to be reckoned with as regards every known endeavor on the face of this planet called Earth, and the internet is no exception, it is left for the rest of the world most especially the United States to fathom this cold hard fact out. Well I would have titled this piece ‘the online conspiracies of the west against Nigeria’ well that would sound cynic and inane. It will look as we are beggars at the rich man’s table waiting for crumbs that falls off his table; when we are kings in the making. However, it has become imperative that we will take on destiny instead of waiting lazily for it to come beckoning at us. But do you know one thing my friend? Your destiny cannot come to you except you shrug off the ashes of defeat, rise to your feet, and then take what rightly belongs to you. Sorry if I have digressed from the main topic of the day, well I was trying to crave your indulgence as is always the case with me. Like I said earlier on, Nigeria remains the biggest internet estate and can compete favorably with India on the third world country category and in the real sense can give the west a run for their money; and as a member of cyber world is not immune to the fistful of online fallacies that pervades the internet daily. But I’ll only deal with this ill wind the as it concerns we Nigerian.

One thing that has remained obvious to we Nigerians especially those who wants to make a decent living doing decent business online is that we are greatly disadvantaged because of some pre-conceived notion of the developed economies against Africa and Nigeria in particular, but I wont dwell much on the bad side as an optimist but will deal on the possible and well established side as a realist. What do I mean by this? The internet has become a real estate and as such many people world wide are reaping the benefits of this innovation and smiling to the bank every other day, so my main concern is to get you acquainted with the common myth that pervades the internet daily and the obvious.

Recently, online FOREX TRADING has become a niche that every person with little or no experience on money matters wants to get involved in within a short period of time (most attend one to two days seminar) and want to start reaping from it, stop! I’ll love to ask, why is it that we still have few people that are rich from trading FOREX with all the hype associated with it? Well have you stooped to think this over? But my friend like I titled this article I’ll love to list the myths, facts and the reality of online FOREX trading. Personally I don’t trade FOREX but I know of an array of people who do; and from the fillers I get daily, it is not as rosy as it sounds. You loose money and you gain money, however the tendency of loosing far out weighs that of gaining if you don’t know the fundamentals of the trade. Knowing the fundamentals is not some thing you gain the knowledge in 1, 2, 3 or even 7 days as those who advertise it in dailies will tell you. What the organizers of various FOREX seminars are after is to gain back what they have loosed trading through levying outrageous seminar fees on the participants. At the seminar they don’t take the time to explain the technical and fundamentals of the market, terms like pips, bull traps, Fibonacci analysis etc are not well explained: leaving the participant more confused than ever. But like I said earlier on, trading with no fore knowledge of the aforementioned points makes trading an experience not worth the venture.

Still on online FOREX trading, it will be unfair if I don’t mention the benefits of this online money making venture even if I’m not trading this very lucrative market (yet). Basically FOREX trading exceeds about 1.3 trillion dollars daily, so it will be mediocre of a person to jump into a market as large as this with no formal knowledge of the happenings. However ,it becomes expedient of the person to get fully into the know of this liquid market before getting his hands burnt in the process of wanting to make 100 pips a day as most of the self acclaimed FOREX experts promise you when you trade on their systems. Like I always do when posting any article, I try to make detailed research (even if I know little or not) before coming to press, and when I do it is in the form of a personal experience. While this FOREX rave reached fever pitch, every person wanted to tap into this market to reap bountifully; I decided to make my own in road. Daily, I hit every search engine on the net for a detailed report, I subscribed to every ezine, news letter, and every available publication that deals with the subject. From my findings I observed that the requirements of this market is quite tasking, however if all these requirements are met, the market is worth the venture, what are the requirements I’m talking of: they include a laptop computer connected to the internet; as you need this to enhance the mobility of the market, a domiciliary account, and a form of identity which could come in form of an international passport or national identity card and a plat form to trade on.

One day I saw an advert on a daily on a FOREX seminar that’ll last for about two days, and within these two days you will be taught all the basics required to start making between 30 to 40 pips daily (note: a pip is worth about 10 dollars). I did not attend the seminar as the seminar fee was too much, not that I can’t afford it but because the money was too much for a seminar that will last a couple of days. So I took the address of the FOREX firm and decided to pay them a visit and perhaps make more inquiries. On getting there I met a lady who looked more like a cleaner than a FOREX expert, as I was expecting to see a person who looked like those who work in wall street or if I want to sound modest like some one who works for one of the banks, then how can such a person teach me the basics of the trade for me to start making 50 pips every day!. I thought may be if she really is an expert as she claims, I figure she should be making good money as a FOREX expert and at least look good for her troubles. Is not like I’m saying that there aren’t people here in Nigeria who are doing good trading FOREX, but what I’m saying is that they are very few, this is the fact and the sooner it downs on you the better. I don’t want to sound cynical but in this business is very good for you to be very truthful to your audience, telling them the reality of every situation, instead of leading them falsely by reporting fallacies and stuff.

On the contrary, FOREX trading is a niche and can not be ignored as it has enriched many Nigerians (the few who know the rudiments of the business) as I know of a guy who takes home close to 30 to 40 pips any time he trades, do you know his secret? He sells when others are buying, and sells when others are buying. He knows where to make his stop loss and quit when it really mattered, he understands the basic trends mostly the fundamental, since with it you have a clue as to how the currencies are performing in the market relative to how the various big economies are faring. One other fact in relation to a myth pervading the scenario is that FOREX is not a vocation as the ‘experts’ will tell you. It is not some thing you do on a part time basis; rather I will say it is more of a career, since most traders do it full time. Why this is so is that you can dwell on a chart a whole day waiting for a favorable signal to begin trading, while you are in your office waiting for the required signal, your boss will be telling the secretary to prepare your sack letter and pay-off. But if you learn the ropes you work smart as a FOREX trader, knowing the best times to trade; then you can jolly well make it a vocation, rather than a career as earlier speculated. The secret is that most FOREX traders don’t trade every day. This is another fact, you only trade when there are auspicious signs. Another secret is contentment (avoid being unnecessarily greedy), when you make a good move that gives you 20 to 30 pips, is usually advisable to quit at that juncture even if you see another favorable trend. Usually such trends end with you loosing the money you already made. So be careful, as it could be very enticing as well as deceitful

The fact about this market is that you make money if you avoid bull traps and interpret the market trends both fundamental and technical, looking at the charts, knowing when to buy and when to sell, knowing the best currency pair (e.g. euro/dollar), knowing when to enter and when to quit and Fibonacci analysis. If you get your self acquainted with all these, then your venture into this market will be worth the while, on the contrary the myth is that you don’t, make 30-40 pips daily by just taking part in a 2 day seminar or workshop as most will call it, most self acclaimed experts introduce you to robots that trade on your behalf, well the truth about robots is that they only function according to how they are programmed. Most robots are programmed using technical analysis, but this market is very volatile and economic trends in most leading economies especially the US can affect the market negatively or positively, for example the recent recession so experienced in the US resulted into a weak dollar and like a virus it spread to other economy especially the Euro zone and Japan: so if your robot was programmed following the reverse you can figure out what happens. The reality here is that you can only make it in FOREX when you master the ropes of the market as it has been noted that about 90 percent of those who go into FOREX exit after a short period of venturing. The fact then is that FOREX trading can be lucrative as well unprofitable. Which ever side of the divide you belong the choice is yours. But I assure you that you can make a difference if you believe in your self, since many plat forms reject registration from Nigeria (another western conspiracy), for example FXSOL no longer accepts registration from Nigeria. So it is left to you to decide how to take this market by storm as I promise to give frequent updates as regards my online experiences since I’ve decided to join the trend of Nigerians making dollars form FOREX trading.

Feel free to post your comments and views on this topic, you can also get a free FOREX manual by one of the world’s best FOREX experts, contact me by email if you are in need of this manual, it is free of charge and will come as an email attachment sent free of charge to your box. You can also get e-books on how to build your internet empire for a token fee, more so many freebies are also included like the e-book ‘as a man thinketh’ by James Allen and another free e-book by Wallace D Wattles titled ‘the science of getting rich’. Just contact me via email for these rich books that will enrich your online money making experience.

http://www.chinemeremz.blogspot.com
chinemeremz@gmail.com
chinaemerekwusi@yahoo.com

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Money. This is the first article of a series whose purpose is both educational and practical. And above all they aim to be interactive meaning that any comments suggestions or ideas are more than welcome. Lets start from the basics. The first thing someone needs is very good education. And this requires a lot of thorough research as there are many sources but not all are worth the money for their services. So in this sense an online forex course could be a good idea along with some books. But here comes the first major problem. Which course and which books, which aspects to cover? The technical analysis issue? The maxim goes with the trend? The candlesticks analysis? And which system to use and follow? There are thousands of them! So before we even begin a trader is confused. And confusion is a very bad enemy but it can be arranged. How it can be arranged? With some simple steps. Such as simplicity. The more you know the better chances you have to succeed trading forex and it all comes down to probabilities.

Education is a must to all trading aspects from stocks to futures to forex. But forex has two unique features. High liquidity and extremely high leverage. And although the liquidity is a very good feature high leverage is not. At least not until you know what you are doing. Here we focus again on education. Besides a participation in a forex course either online or not, an amount that will be put away as an investment for education is the first thing a trader must do. Some ideas are to focus on analyzing the current conditions of the market and to have a bias for a specific currency pair. A system such as following the trend could be the core of a trading strategy. And a demo account with many virtual trades as many as possible for a long period of time is the next step.

Now the most important part of the trading action is to make a plan, stick to it and apply very strict money management rules because if the capital is finished and it very easy this to happen then our trading career will finish within a few days, months or even hours. Lets face the truth that trading is not easy. It is unfortunately far easier for someone to lose all his account rather than make wild profits beyond each expectation. That is because emotions and psychology are very crucial for success. Some of the most important emotions are fear, uncertainty, euphoria and revenge. Revenge comes into play very often as when someone loses an amount wants desperately to get it back and often the outcome is that more loses come simply because the trader is on the wrong side of the trend!

Discipline and patience are virtues that distinguish a good trader from a mediocre trader. Without specific goals and a written procedure a trader is like a cargo ship that has sailed without any destination. Someday the fuel will be exhausted and many dangers from the weather to the potential physical damages may happen. Risks exist all the time. The point is how to deal with them.

One of the most useful phrases is taken from the movie Forrest Gump. Life is like a box of chocolates, you never know what you going to get! It is true. Be as prepared as possible. Do not let the brokers excite you promising very high returns and extremely high leverage? Do some very thorough research before opening an account funded with real money. Compare the bid-ask spreads and technical support to name only a few aspects.

Be very skeptical to previous results as offered from many signal services. The major aim should be to learn to trade and make your own decisions and not blindly follow some others decisions and opinions. Confidence and experience come with the passage of time. So we mentioned simplicity before. Being realistic and having a controlled life balance is very important. One major goal should be consistency so as to have the ability to make profits each month and keep them.

Fundamental news is another important issue and in essence the technical analysis is the mirror of fundamentals. Expectations change rapidly and emotions also. And if you think about it emotions and expectations mainly move the forex market. Most times like the recent Fed rate hike decision a move is under way but the danger is when it will be finished and certainly not getting in at the wrong time after all the move is completed.

The best approach for a trader would be to set specific goals and if achieved then stop trading. The worst idea is to trade in a choppy market where random noise will make it difficult to get specific profits.

So a tested system with very precise rules such as entering exiting and having stop-loss orders may not be a holly grail but is surely one very good approach to start with and focus on it. Pivot points are such a system. At least it is a good start. They encompass education, discipline, strict criteria, and targets and are a proven system that major players use. They are not foolproof always as nothing is certain but they deal with high probabilities and this is very important.

Also a very practical way is to act as organizes as possible. Meaning that:

1. Develop your own trading journal where you will be writing down your trades and a brief explanation of what made you place a particular trade so as to evaluate performance. Note each day the major economic releases if any because it is often wise to be out of the market before the release of the news and trade only after having a much clearer opinion of what price action may be. Remember it is all about high probabilities.

2. A risk/reward ratio of 1:2 meaning that you risk an amount to get at least the twice if all go well is suggested but sometimes it is best to be conservative and even apply an 1:1 ratio by applying very strict risk management risking no more than 2-3% of total capital per trade. Survival is everything.

3. It would be a good idea from time to time to have breaks from trading. Opportunities exist always so stopping trading when losses of 10-20% maximum of trading capital have accumulated is a good way to reevaluate what is going on before a large amount of capital is lost. Trading is not gambling it is a way of investment. The philosophy should be to define realistic goals such as a number of pips per day and if achieved then stop trading. Greed is another bad enemy of traders. On the contrary the notion of compounding profits and retiring a portion of them each month is a good way to build a solid account and keep monitoring its growth.

So in this first article we touched briefly many ideas from education to psychology to a proven trading system etc. Each idea will have more in depth analysis in the very near future. Your comments and suggestions will help us a lot to focus on what you need or want to analyze. Above all interactive communication brings the best results. That’s all folks!

http://www.themoneycosmos.com

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Taking Your First Step Toward Becoming a Rainmaker

If you’re a typical bookkeeper or accountant trying to build your practice using the traditional methods of networking and referrals, you’re probably struggling day after day and not getting the results you need.

Your competition has probably already positioned themselves in your community as the small business “expert.” You see their name in every seminar announcement from the local community college, or in the newspaper as a speaker at almost every Rotary or Kiwanis club meeting. And you wonder how they did it. How did they position themselves as the “expert?”

It wasn’t some acclamation from “on high,” or any special education or training that you weren’t privy to, it was their recognition of and implementation of what many professionals refer to as “Rainmaking” skills. They learned that being recognized as an expert involves producing materials that are perceived by the public as conferring authority on the creator … the written and spoken word! It was merely the manipulation of the public perception.

Most people are afraid to get up in front of a crowd and talk. Still others don’t think they can write. The rest find one excuse or another to avoid taking the steps required to achieve their goal of being recognized as the local “expert.”

One of the easiest ways for a practitioner to overcome their fear of public speaking is to start with a small intimate group such as a mini-class or a small intimate seminar. And sticking to “what they know” also helps to relieve much of the stress. That is how many successful “Rainmakers” start, by giving small intimate workshops in their field of expertise.

As an accountant or tax professional, you will have developed much of the knowledge that small business owners in your community are seeking. With that in mind, it should be an easy task to begin making notes or comments on business and tax saving ideas and then organizing them into some semblance of order. The first thing you know, after doing that, is that you will have accumulated a vast storehouse of knowledge that you can easily convert into training materials, reports, articles and even a book.

Starting with a small intimate workshop or training program for people you already know, such as your existing clients, or even family and friends will lower the stress level significantly.

You can start the planning for your workshop or training program by stating a piece of knowledge or information that you to pass along. If you do not have a clear idea of what you want to teach or explain, then your first step becomes one of determining what a good objective would be.

Your objective needs to be focused on what your clients, and others like them, want to know … even if they don’t know what they want to know. Unfortunately, sometimes you don’t know what your clients and prospects want to know, which leads to your having to do some research.

Researching

The objective of your research may justify some thoughts you have or it may modify the thoughts you have had on a particular subject.

There is no need to collect a mass of information at this point. All you are trying to do at this point is to determine the usefulness and appropriateness of the information you find on topics you know and use in your every day work. Collecting a mass of information without a clear objective will be a waste time and energy. The objective should determine the research needs, not the other way around.

Once you have been able to determine an objective for the training you intend to give, then you will want to start collecting materials together and do additional research. The first place you will want to draw from will be your own experiences, the notes you accumulated over a period of time. You can also draw on the experiences of others that you have acquired through conversation and interviews, and through written or observed material.

When you have clearly defined an objective that you are comfortable with, your first step is to see what you yourself know about the topic. Your knowledge will be important, and will point to gaps in your knowledge where you need to do further research.

Next, you want to draw on the experiences of others. People you know in your industry, or who are involved in the topic you have selected may help you clarify your thinking about the topic, giving you facts, testimonials and suggest other places to look for answers.

But, while interviews, conversations and personal experience may provide valuable content for your sessions, you will need to do additional research elsewhere. If you have targeted your objective and the subject for your workshop or seminar, then the next steps in your research will be easier.

Part 2 of this article may be found at http://instantpracticebuilder.com/article_part_2/

Kirk Ward is a retired tax expert, accountant and auditor. He provides the same resources he used in building his practices to startup accountants through his Instant Practice Builder website and rants about the commercial finance industry on Kirk’s Blog (Wonder where he got the idea for the name of that blog?) where he describes his career as an auditor with “Bucket Of Blood” finance companies and banks.

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Everybody who even perfunctory follows the news must have heard about the string of terrible financial developments in the United States. More and more investment and banking companies are going bankrupt or are being threatened by spreading credit crisis. This is a spillover effect from excessive lending practices during a prolonged housing bull market, which came to an end as a “bursting bubble” over a year ago.

Now more and more companies find themselves in possession of securities tied directly to mortgages issued during that time. With more and more houses going into foreclosures and loosing value, an increasing number financial instruments are rapidly becoming non performing, or outright worthless. Companies holding them are experiencing losses going into billions of dollars. Some of them are becoming insolvent.

Such was the case with Washington Mutual, which was seized by federal authorities and sold at a bargain price to JP Morgan Chase. Washington Mutual set a sad record, becoming the biggest bank to ever fail in USA. But not the only one lately. So far the crisis has claimed 12 banks, investment banks and even insurance companies, like the industry giant American Insurance Group.

To date US Treasury managed to avoid real disaster by stepping and taking over failing institutions or facilitating financing to keep them alive, by lending money to other companies for purchase of weakened rivals. Intervention has cost Treasury hundreds of billions of dollars, including $25 billion to bailout Bear Sterns, $100 billions each for Fannie Mae and Freddie Mac, $85 billion for AIG. This list goes on and on.

Now FED is asking congress for additional $700 billions in order to bail out entire financial industry, by establishing a market for mortgage backed securities. Federal authorities would purchase instrument from most at risk firms. That would set some kind of pricing guidelines for all other such securities, making it possible for all holders of such notes to start trading in them again, potentially lowering risk of owning them.

Nobody really knows if this is going to be enough, but the price of such action will be staggering. With the money already spent and the funds requested, the total bill will surely top $1 trillion dollar by a wide margin. This would signal new wave of borrowing by Treasury, which would last for years and push the total debt level into record and uncharted level.

Dollar lost value while all this was unfolding, and is likely to continue slide until congress works out details of this massive funds infusion. After that it will take some time to see if the steps FED is taking are having desired effect. US dollar will probably stay under pressure during this time. One might expect this to continue through the reminder of 2008.

In order to finance rising level of debt, we can expect to see interest rates rise on USD, which would make Treasury paper more attractive. Combined with economic slow down in the rest of the world, this might prove very bullish for dollar going into 2009. This will only be the case if the interest increases are done in a slow, measured pace and not due to some market panic. This particular scenario is compatible with very long term dollar charts.

We should be watching with interest what comes out of the chambers of congress. Once the funding is granted, it will be up to the financial authorities to prove it is money well spent. If it works even half as well as promised, we should see steady appreciation of Dollar in 2009 and perhaps a little longer.

Mike P. Kulej is a Chief Forex Strategist for Spectrum Forex LLC. He specializes in mechanical trading systems as explained on http://www.spectrumforex.com. Spectrum Forex LLC offers numerous services to individual traders. He also publishes trading blog http://www.fxmadness.com. With questions and comments e-mail him at kulej@spectrumforex.com

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Are you looking for a residual income business or ideas for a residual income business? These days there are many websites boasting that they can provide you with a residual income easily. You should be wary of these websites as a lot of them are scams and all you are doing is providing a residual income for the person who set up the website.

If you do your research and work hard you can create your own residual income business. Doing this online is a great opportunity and if you learn a bit about creating a website and monetizing it then you will be able to create your own residual income.

You could start a blog in a niche and add AdSense to it. Then you could drive traffic to it by writing articles and posting comments to blogs. There are plenty of ways to drive traffic to your blog. This will take a lot of effort first up but if you continue to work hard and drive traffic to your site, eventually it will start making money for you.

So look online for the business model that suits you and test a few to see if they will work for you. You will have to spend a lot of time in the beginning to set up your income stream but it will be worth it in the long term.

A residual business offline is likely to be a bit harder to operate. Until you have the right staff in place and some good clients giving you repeat work, it will be hard work. It is possible though so have a go and do not give up. You residual income opportunities are everywhere. You need to spend the time to find the ones that suit you.

http://www.weekendeasycash.com/passiveincome/passiveincome.htm

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