Thursday, September 27, 2012

Suffering Financial Hardships Gain Control With Wealth Creation Education

Another fine mess we have gotten ourselves into....what I was saying to myself less than a year ago. A time when the average American is spending $1.05 for every dollar they make. No job or pension is safe and the daily news brings more pessimism on the future.
 The first step in recovery is called RESPONSIBILITY. A quote from the book "A Travelers Gift" by Andy Andrews, "The buck stops here, I am responsible for my past and my future." I made all of the decisions that got me where I am today and I will make decisions and take the action necessary to change it.
Second earn more income and that part has never been a problem for me. I am motivated, willing to work and am very coachable. That is all it takes. I have always looked for something that someone else is doing (a system) that is getting the results I want and then I duplicate their efforts and no surprise, get similar results. That is the subject for another article.
Third, do not make the same mistakes of the past; learn how to manage my own finances and especially retirement. We have been in the position of entrusting other people with our money, thinking that they will know better how to take care of it then we will, not. That is the biggest part of how I got here. Not playing the victim, just realizing that I needed to get educated about money and creating wealth and take care of my own.
That is what brought me to Wealth Masters International and the wealth acceleration program. It was easy to choose this one, because it was a home study course, gave me full control and the ability to take the action needed to accomplish the following:
1.       Save over $200,000 in interest on my mortgage, credit cards, auto loans...any and all debt...  
2.       Become debt free in 8-12 years or less.  
3.       Eliminate interest that would have otherwise gone to the bank.  
4.       Gain a fresh start in every area of my life.
The number one thing it made me do is to find out where I was right then. Put everything down on paper for an objective evaluation and plan. I can laugh about it now, because my financial situation has changed, but when I first entered all of my information this is the message that came on the screen...
"Seek Professional Financial Consultation Immediately"
The truth is that is what I needed based on my income to that point. The problem that I see with most of us is, when we are earning great income, we do not find it important to watch our finances closely and then when it goes away, we don't want to look because we are afraid of what we might find.
Staying in the dark is not the answer. We can no longer count on other people to take care of our money. With knowledge comes power and control, which is really any of us wanted over our own lives. Financial freedom is the ultimate goal and that starts with financial education. 
The wealth master's acceleration program was the answer for me. You can get a link to more information in my bio.
The decisions you make today are the foundation of your future. Make it a great life. 
I was 52 year old baby boomer, my retirement plan died with the stock market and my 20 year six figure income dried up with mortgages. Now 80K in debt no real world job skills, I turned to the internet....
It seemed too good to be true, but I received it in the mail, set up as instructed and was making money the first week. The system is a simple online business opportunity and easy to use. There is support and ongoing training by those members that are already having success and been recognized as the top internet marketing trainers in the world.
All that is great, but if you asked me what I like most about this online business opportunity, it gave new passion to my life and the freedom to enjoy it.

Thursday, September 20, 2012

A Foreign Exchange Trading Education

If you are brand new to the forex market and are looking to get a foreign exchange trading education, you need to be prepared for a couple of things.
For one thing, if you have experience with stocks or derivatives, get used to the idea of not having a break. The forex market simply does not stop during the workday. So if you are used to punching out 4:00 pm when the final bell is rung, get ready to put in some overtime. The market is ongoing for 24 hours a day.
The other thing to be aware of is the fact that the foreign exchange market is much more news driven than any other market. If the Fed Chairman sneezes the wrong way, a currency can go up or down 100 pips.
But the one thing that I just love about the forex market is that its price movements are a lot more cyclical than other markets.
By this I mean, if you study price charts on currency pairs, you will begin to notice that there are price action patterns that can be used to predict future price movement. No other market seems to have such strong correlative patterns.
The wonderful thing too, is that since there are so many currency pairs to choose from, and the market is always open 24 hours a day, you are bound to find solid trades across the scope of the market irregardless of what time it is. This is perfect for those that have day jobs and don't have the ability to look at charts all day.

Thursday, September 13, 2012

Forex Trading Education - How to Use Support and Resistance For Big Profits

An essential element of your forex trading education is using valid support and resistance to time your trading signal. Here we are going to walk you through a live example of how to use it properly.
The currency we are going to look at on our forex charts is the Japanese yen.
If you look at the yen daily chart, you will see a very valid resistance level at the 108.00 level and since March of this year there have been numerous tests of it, over 20 and yet the dollar has failed to close above it supported by momentum.
This resistance is very valid because there have been so many tests. Resistance or support gain validity
- the more times they are tested and hold
- The more different time frames and the wider apart they are
- The traders who trade the market and the news sees the level as significant
Watch the level then confirm the Trade
The way to trade it is to wait for the rise but DON'T sell until you see momentum turn down and two great indicators for timing your trade are the stochastic and the Relative Strength Index. Simply wait for the level to be tested and wait for them to turn down.
Never just assume a level will hold, wait for confirmation via momentum indicators
Once this occurs you can be short and you know when you're wrong - if prices close above resistance.
This simple method of trading into valid resistance or support works and providing you time your entry correctly with momentum indicators, it can make a lot of money.
We have used this simple strategy to clear thousands of pips profits, this year and we have kept it simple, nothing complicated about it but it doesn't mean it simple strategies can't make money they can.
While resistance holds you keep doing it sell into the level and take profits when the dollar becomes oversold, then wait for the next test.
Follow Reality of Price Change
If the price breaks up and closes strongly above resistance, the odds will favour further strength in the dollar.
Simple and Effective
Sure it's simple but it can be very profitable and the above is a good example of a low risk, high reward way of trading into valid resistance.
You don't need to do anything else, than trade the reality of price change on the charts and if you do and you confirm your moves this simple forex trading strategy can make a lot of money.
This article was written on the 2nd Of August, good luck and good trading.

Thursday, September 6, 2012

Forex Education - If You Can't Answer This Question Correctly You Will Lose

If you can't answer the question I am going to pose in this article you will probably lose all your money when you trade. The question though is one that very few novice traders consider or think about so here it is:
What is your trading edge?
Why will you win when 95% of traders lose all their money quickly?
What separates you out from the majority of losers and means you are going to succeed?
If the answer is - I have bought a system for a couple of hundred bucks, or I like to trade off the news or on recommendations of others - kiss goodbye to your equity.
The fact is most traders in forex do not get decent Forex education!
They think it's easy to win and believe the hype they read, or treat it as gambling and the market takes their equity.
A trading edge is the edge you have over the losing majority - for example, if I was to describe my trading edge it would be:
My use of sentiment and momentum indicators, to isolate high probability contrary trades and the ability to load these trades and remain disciplined.
I know I am good at hitting these trades and have a track record of doing it over 15 years. This is not meant to sound arrogant, it's what makes me a good trader and I know it and you must get one to, if you want to win.
Know Your Edge and Know Yourself
Now your edge might be something different but that's not the important point - the most important thing is you have an edge you have worked on and you know it gives you a head start on the majority.
An edge is something that comes from within and is a combination of method and the mindset, to make it work with discipline in the markets.
Or any day in the Forex markets - it's a brutal world where only the strong survive and you can only rely on yourself no one else can help you - you're all on your own.
If you don't like the above and like to blame everyone else for your losses - from your system, to your broker, do yourself a favour and don't trade Forex - it's not for you.
If you are ready to stand alone apply yourself and get the right knowledge, you can acquire the correct Forex education, get an edge and win.
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