Connect with us

Finance

Forex Education Tips – 5 Steps to Successful Forex Trading

Avatar Of Rajesh Khanna

Published

on

Close to 95% of all Forex traders will lose money. We’re not just talking about novices, either. Whether you trade Forex for a living, as a hobby or just for fun, odds are against your success. That’s a simply astonishing fact. However, the remaining 5% of Forex traders somehow manage to break even and there are those lucky few that actually make money in the currency market – consistently!

Like the TV show says … “How’d they do that, anyway?”

That’s the million dollar questions, isn’t it? Countless books, seminars and expos have been hosted to answer this very question. That sad fact is that thousands of books have been written and countless seminars and interviews have been conducted in an attempt to answer the magic questions. The reality of the situation is that there is no magic formula; no one single Holy Grail of Forex trading.

So what do the successful traders do that the rest of us have simple not comprehended. They have mastered a process of winning where they combine and customize several factor to produce consistent results. They have mastered the Process of Trading.

The Process of Trading is:

Strategy > Money Management > Self-Mastery

Here are some simple Forex Education tips to help you master the process of forex trading:

Success Tip #1 – You’ve Got To Have a Plan

You must have a written business plan that will detail all aspects of your trading. When are you going to trade, how much to risk, strategies for entries and exits are just o name a few. To become a consistent (profitable) Forex trader you have to plan your trade sand trade your plan.

Simplicity rules! Don’t make this plan too complicated. One sheet of paper for you mission statement and another for your trading plan should suffice. Anything more is probably too complicated.

Success Tip #2 – Focus on Your Personal Psychology

Knowing yourself will allow you to master the discipline necessary to execute high quality trades with solid money management techniques. Lack of discipline is fatal in Forex trading. Go on a personal journey to identify you attitudes towards risk and money. Get intimate with your strengths and weaknesses as a trader and build in to your trading plan strategies to minimize those weaknesses and maximize your strengths.

Different personalities lend to different trading styles. Get familiar with all the different styles and over time you will begin to gravitate towards one particular style. Don’t fight the urge like I did. I insisted I was a day trader, but had only limited results. I found my winning percentages were much higher when I entered swing trades. Guess what’s my bread and butter strategy now!

Success Tip #3 – Be Realistic About Your Expectations

This is a hard one, I know! I am on the internet every day and the amount of advertising is staggering. Brokers are offering free education (fox in the hen house if you ask me), forums of all different trading styles and points of view. Gurus pushing their system as “the one” that will make you the big bucks. How do you get through all that noise?

Let me tell you loud and clear right now – everyone is right and everyone is wrong. You have to make a personal commitment to become a successful trader, find a trading style that works for you and expect a slow and steady approach to wealth building through Forex.

What works for me may not work for you. Expect to go through an exploratory period where you are learning and at the same time exploring yourself as a trader. Keep an open mind and don’t pay attention to all the noise out there.

Success Tip #4 – Exercise Patience

Rome was not built in a day and neither will your trading account. In fact, I tell all of my students that while they are studying to become successful Forex traders they should not look solely at their account balance as an indication of success or failure.

By tracking and increasing your percentage of high quality trades you execute is a far better barometer of your progress than your account balance. Cause and effect rule here. Over time when you increase your probabilities through the execution of high quality trades your account balance will respond accordingly.

Keep the focus on the process and with time your results will blow your mind.

Success Tip #5 – Money Management Is Top Priority

I would rather have a shaky strategy and excellent money management techniques than the other way around. This topic warrants its own blog post to do it justice. Limited your exposure (read “risk”) allows for you to stay in the game and allow the laws of probability to work.

Let’s take a casino for example. They need gamblers to frequent their slot machines to make money. Why? They have a game that has a greater than 50% chance of making money for the house. The more people that play the slots, the greater the casino’s profits.

The casino controls risk by payout tables (always favoring the house!) and increases their probabilities by keeping gamblers at the slot machines (read “free drinks”). As a trader you must limit your risk by committing only 1% – 3% of available capital to a single trade. When you execute enough trades with a high probability strategy you too can clean up like the casinos – but only by staying in the game long term.

In conclusion, Forex trading is not easy. It’s hard work and will test the limits of your patience and perseverance. If anyone tells you otherwise .., buyers beware! It can be a very rewarding and profitable venture if done correctly. In the end it is a profession that requires a learning curve and practical experience, no different than an airline pilot or engineer. Understanding how to approach and learn this game will allow you to reap all the benefits advertised. It is your Forex Education that you will master the Process of Forex Trading.

Advertisement

Finance

How to Get Back on Your Feet After Debt Settlement

Avatar Of Rajesh Khanna

Published

on

Getting back on your feet after any financial setback can seem like a daunting task, but I assure you that you can do this. The most important thing to remember is where you just came from and what it took for you to win financial freedom from your debts! Never forget the past and learning from it are powerful tools and great motivation to carry forward. Getting back on your feet financially requires all your focus and constant monitoring and review. Here’s how to get back on your feet after debt settlement:

1. Consult with your tax professional. You should have done this before you negotiated the settlement of your debts and that IRS Form 1099 should come as no surprise. Be sure you have done your income tax planning so you don’t wind up owing the IRS!

2. Build an Emergency Fund: I’m a huge fan of the Dave Ramsey program, for the most part. One of my favorite tools that Dave always advises that we start with what he calls a “murphy account.” Murphy’s law says that anything that can go wrong will. So, a murphy account is a savings account that you immediately set up with a minimum amount of $1,000.00 and continue to build this savings. Then, when Murphy comes calling and you get a flat tire, need car repairs, a new fridge, or dental work; you can use this emergency fund for these events. If you use this account, then you must work hard to replace those funds for the next time.

Gone are the days of having a credit card for emergencies and didn’t you just learn how hard it is to get out of debt? So, why go back? Make a promise to yourself that you’ll never go back. You don’t have to anyway with an emergency fund [aka a Murphy Account].

3. Live and Die by the Budget! There is no magic bullet, no pill you can take and no ‘get rich quick’ scheme that will magically transport you to your financial goals. The only way to ever get ahead financially is the spend less than what you make, period. A budget is a requirement and there is no way around this. Make it fun by doing what Dave Ramsey calls ‘prespending’ your money before you even get it. Review your budget every month to see where your money is going. Over time, you’ll begin to see patterns in your spending and look at each bill and ask how you might reduce it.

Examples include unplugging appliances to reduce your electric bill; cut out those extra television channels; ask your insurance agent whether you need that additional insurance; learn to do a mini version of your own ‘extreme coupon’ game to save at the grocery store.

4. Plan for your Future. No one can do this for you and I certainly don’t expect to live well on Social Security alone, if at all. Many financial experts provide complimentary consultations and you’ll need to at least take advantage of asking questions that will help you set your goals. You may be working hard to pay off a mortgage, send kids to college, build up a retirement account, etc.

Having the right insurance policies and the right amount of insurance coverage is also important to protect everything from your health to all of your assets. Speaking of assets, have you also considered that dreaded estate planning conversation? Stop avoiding your financial responsibility and set out your plan in writing.

Continue Reading

Finance

When You Have Found the Remedy to Defend Against Fraudulent Wrongful Foreclosure: Stop Researching!

Avatar Of Rajesh Khanna

Published

on

“I needed a drink, I needed a lot of life insurance, I needed a vacation, I needed a home in the country. What I had was a coat, a hat and a gun. I put them on and went out of the room.”

Raymond Chandler Farewell, My Lovely

I have people who have contacted me over the years and for one reason or another they have not used my services fully or never decided what they want to do or what they can afford. A few have contacted me many times to run ideas by me or ask for simple advice.

At the present I have so very little time that though I do try to help out with what I know, I can only help as long as it doesn’t consume much time. Actually, I usually enjoy these conversations as these are people who have done a lot of research and they often give me something useful.

But, overall the problem I have with some borrowers is that they are constantly looking for the magic bullet that will finally enlighten the judge. The judge will see that he or she has missed the point and that the borrower is the party in interest. The only conclusion the judge can come to is that the foreclosing party actually never had any true part in the loan at closing or ever. Sounds too much like a TV show doesn’t it?

It is true that the vast majority of foreclosures are wrongful and illegal. The judges in these courts start from the very beginning to place the burden of proof on the borrower and that is adverse to what the constitution says about burden of proof. It is the moving party, in this situation that is the foreclosing party, that must bear the responsibility proving that it has the right to bring the case before any court.

The courts want the nonmovant borrower to prove that he or she have not caused injury to the foreclosing party. However, in actuality, the court has the burden to review the original pleadings of the foreclosing party and determine if that party has, in fact, asserted any true and provable rights to collect money from the borrower. If they have not they have not met the constitutional lrreducible minimum requirements for standing in every court.

Without the right to collect money the foreclosing party should not have collected any money and it follows that with no right collect there can be no right to declare default which certainly would void any right to foreclose.

Lately, I have been using the strategy of challenging the standing (which can be done, literally, at any time) of the foreclosing party immediately. Without two parties with a proven interest in the issues of the case there is no standing for the foreclosing party and the court has no subject matter jurisdiction and must not proceed with the case.

This is US constitutional law. In this position the court (and judge, they are interchangeable) has only one move it can make. It must dismiss the case or in a non-judicial foreclosure state it must vacate and set aside the wrongful foreclosure.

You may have noticed that I use the words foreclosing party and borrower instead of Plaintiff and Defendant. This is because in judicial foreclosure states the foreclosing party is the Plaintiff and the borrower is the Defendant. But, under the statute and rules in states using the bizarre and heinous non-judicial foreclosure it ends up being the opposite. The borrower is the Plaintiff and the foreclosing party is the Defendant.

That is so confusing that I try to avoid using the words Plaintiff and Defendant when describing “who done who wrong”.

Below is the most simple description of the central Mortgage Fraud issue that I have ever written. It is my answer to my friend’s questions about a blog guy he had found on the internet and sent to me to see what I thought.

Dear Kevin,

I am reading all of the case citations you sent me from the blog guy that posts videos while driving in his car and wearing sunglasses and if I drive that image out of my head, he is saying a lot of things that are close to what I am. It was interesting, but he is in a niche that is just enough different that I cannot make it fit in my mind. I don’t think we can find a useful way to use these in the current environment.

The judges I have been dealing with these long seven years aren’t even acknowledging the most simple and basic statute and constitutional civil rights. I can’t even get them to write anything in their orders and rulings that would indicate that they even read what I have written.

Kevin, the time has passed for further researching to come up with the magic bullet that will cause the judge to jump and exclaim “Oh, Kevin, now I see what you mean”.

The judge is in the way. He is an impediment to justice. We must use the remedies that the old guys wrote into the constitution to baby slap the judges. Any reader who has been following me this year knows that this is what I call “The Dick Butkus Mortgage Offense. If Dick Butkus is all that is keeping you from a winning touchdown with one minute left on the clock, then you gotta get him out of the game immediately. Anyway that you can. You really don’t have the luxury of studying your many dark “what ifs” because practice ended yesterday. Now its Showtime.

The probably non-existent foreclosing entity is not your problem, nor are its attorneys. Your only adversary is the judge. He is placing the burden of proof on you, the defendant borrower. That is just not fundamentally sound logic and it is depriving you of your civil rights. You don’t have to win the case. The case is void. You need to declare and prove that.

You just follow the laws of subject matter jurisdiction and make the court enforce them, either peacefully or in a borrower initiated good old knock down drag out. You are not a victim, unless you play by the judges rules. If you fight him and his no rules style of court, you will be a victim and a loser.

I meant that in the nicest and most civil of ways. D.

Continue Reading

Finance

A Quick Comparison Guide on DirecTV and Dish Network Satellite TV Deals

Avatar Of Rajesh Khanna

Published

on

What’s good in Dish Network? What’s good in DirecTV? If you live in the Continental USA and Hawaii and desire satellite TV systems, you have basically two choices. Lets compare these two major satellite TV providers and see who suits your TV entertainment needs the best.

DirecTV and Dish Network offer the most choices for the least amount of money. In most cases, you get free equipment, free setup, free installation and great package deals. The great news for consumer is that, both companies offer similar services and they both are competing for your business! So based on this, how do you choose between the two?

Dish Network’s biggest advantage is the free Dish Digital Video Recorder (DVR) that records up to 100 hours of programming. The second biggest advantage is price. Dish Network beats DirecTV a little in pricing and beats cable TV a lots. However, DirecTV has a few premium packages like NFL Sunday Ticket that Dish Network doesn’t have. Price is way better than cable TV and is still very competitive with Dish Network.

Where programming is concerned, both Dish Network and DirecTV offer excellent entertainment packages in high quality digital transmission. Over 256 channels are available for Dish Network programming. Dish Network broadcasts as many as 231 NFL pre-season, regular season and post-season playoff games without having to purchase a costly season package subscription! It has more comprehensive international programming with additional foreign language programming packages.

DirecTV supports up to 225 channels. Compare with Dish Network, DirecTV has exclusive rights to some sports channels, but you need to pay an extra fee to get these channels. Some of the sports packages include NHL Center Ice, MLB Extra Innings, NY Yankee Games, NBA League Pass and NFL Sunday Ticket which gives you access to almost every NFL games.

The hardware needed for satellite TV are almost the same between the two providers. Both need a small dish, a satellite receiver and the access cards. You will be given a choice when you order some of the equipment options. If you want standard satellite TV with a DVR, or High Definition (HD) options, you will need different kind of dish.

The Dish Player DVR510 offers by Dish Network can records up to 100 hours of your favorite shows without video tapes! While DirecTV’s records up to 35 hours. Dish Network gives you free satellite TV equipment and free installation in up to four rooms of your home, which at no charges. For DirecTV’s subscriber, you will be charge an additional small amount for the DVR receiver.

Both of the DirecTV and Dish Network have excellence customer services with 24 hours online support and 24 hours toll-free telephone support. They both offers online services like viewing current and prior statements, add packages and make payments to your account. Online user manuals and installation guides is also provided.

Dish Network or DirecTV? It is difficult to make a choice between the two providers because they offer very similar programming as well as pricing. No matter which one you decided to go with, its sure will give you a great deal with some really good service.

Continue Reading

Finance

What Is Social Leadership?

Avatar Of Rajesh Khanna

Published

on

The term social leadership has been used in a technical sense by researchers for over fifty years. More recently it is being used by community organizations and others to describe a much broader perspective on people-centered activities aimed at creating a better world. Beyond this, I would suggest that it has great potential for use within the technical vocabulary of leadership studies, as a framework for the construction and evaluation of more comprehensive ways of understanding what it means to lead.

The concept originally emerged in the context of developmental psychology and educational theory as the opposite, or perhaps the complement, of task leadership. What this means is that when working with others, we demonstrate a propensity either to get the job done or to ensure that others are included. Presumably, personal success is dependent upon developing capacity along both of these lines, but our immediate concern is with the social aspect of establishing and maintaining interpersonal relationships.

Outside the academic environment, the term is being used within the context of training programs offered by various, predominantly Christian, religious organizations to reflect a commitment to creating a healthier, more peaceful and prosperous world, with a happier and more fulfilled citizenry. Adherents dedicate their lives and talents to doing what they can, as much for others, as with others. Inspiration for this mission and the development of a sense of stewardship are found through submission to God.

What I am proposing here is the adoption of the term social leadership within management and organizational studies as a way to capture the idea that the leadership process entails more than just the mechanics of achieving goals through the management of tasks and people. It must also take into account human values, both ethical and aesthetic.

Ethical values are usually expressed in terms of what we think is right, or good. For many people, their understanding of right and wrong has been provided for them through their association with formal religious institutions, but this does not have to be the case. Philosophical systems can provide a set of socially compelling standards to which an individual is willing to commit, without requiring a concomitant commitment to some transcendent authority.

Aesthetic values refer to such concepts as harmony and beauty, elements that are essential to our perception and appreciation of the world around us, but which we might not think have any influence on the ways we manage, or lead. Curiously, it has become a common saying among those who study leadership, that it is like beauty. You can’t describe it, but you know it when you see it.

Within the business and management context, the concept of social leadership has precursors in the notions of social marketing and corporate social responsibility. The former concept refers to the use of conventional marketing tools to alter people’s behavior towards a social good, such as increased physical activity, stopping smoking, or volunteering in the community. The latter term refers to the idea that corporations need to balance their concern for making a profit, with an equal concern for the well-being of their customers and employees. This notion has been extended more recently to include a concern for the welfare of the planet, thus establishing the so-called triple bottom line that blends economic, social, and environmental factors, in a quest for sustainability.

I am not putting social leadership forward as a new theory of leadership. There are already too many of those. Rather, I am suggesting that the term be used to identify a framework within which existing and emerging theories can be analyzed and evaluated for their comprehensiveness and as a measure of the extent to which the insights provided by such theories can be implemented in practice.

Continue Reading

Finance

Factors Tipping Towards a Hosted VOIP Service

Avatar Of Rajesh Khanna

Published

on

A hosted VOIP service is getting popular today with the growing demand of its services due to the progressive technology that brings on quite a number of compelling advantages.

Total Cost of Ownership

The total cost of ownership or TCO is one of the major factors in considering a hosted VoIP system. As a cheaper solution over the traditional onsite IP PBX system, the hosted system is more favored as one can consider business expansion with geographically dispersed branches and numerous customer locations. The hosted system is favorable when there is an increasing mobile support needed with a good servicing to remote end-users.

Improved Employee Performance

Research and track records prove the hosted VOIPs offer more than cost savings. There is an obvious employee service performance with a good ‘buy in’ from the employees. Although there is a heavy investment on network connectivity, this investment reaps in more sales and profit that benefits the business in a shorter time than with another type of system.

Such hosted services ensure a good connectivity among the business branches to allow a robust and smooth operation with up-to-date information to the customers. VoIP services that are hosted would offer high call quality with high service levels crucial to businesses which could be demanded of VoIP service providers.

Increased Business Productivity

Hosted services allow more features for the employees to manipulate to their convenience and to the advantage of the business for a higher productivity. Management reporting and administration facilities are simpler and more structured than on-premise PBX systems. With a higher agility, hosted VoIP service systems allow the business operations to run more smoothly with an easier scaling in either direction according to the business productivity.

Hosted services of VoIP technology are manipulating world-class equipment based on the latest technology on secure networks that have built-in resilience with a strong business continuity factor.

Increasing Demand

It is not surprising to have more businesses considering VoIP systems that are hosted in the coming years. The VoIP market is expected to rise in exponential figures with the current 17% growth rate.

Hosted VoIP systems would be the preferred choice of a business that wants to take advantage of the advanced features of the system whose services are provided by experienced and skilled VoIP provider remotely. It is not just a capital expenditure investment with certain VoIP equipment; there would be more advanced features and services incorporated in the next couple of years on hosted VoIPs.

Continue Reading

Finance

5 Advantages of Pursuing MBA After Graduation

Avatar Of Rajesh Khanna

Published

on

Nowadays bachelor’s degree is not just enough to get a lavish job and earn well. As we all know that job market is already very competitive and people with simple bachelor’s degree are still hunting for a good job. Renowned company’s employers are looking for candidates who are well-versed in the dynamics of the market and experience as well. We have seen the growing demand for management courses in our country and many youths are chasing this course by preparing for CAT & MAT exams. An MBA course comes with multiple benefits and it teaches youths to learn more about successful business. If you are about to complete your graduation and confused whether to go for an MBA course or not, then here we give you the reasons why you should get an MBA degree:

  1. High Package Salary– Well after pursuing an MBA course and paying high fees, it is somewhat manifest that you will get a better job opportunity and get a higher salary. With an MBA degree and great command on their specialized subject, one can demand a higher salary.
  2. Quick Start & Great Career Opportunity– You must have seen many graduates are still struggling to get a job and they are not getting high salary either. But if you see an MBA graduate, they get a quick start and earn really well. They got trained during their course tenure; hence employers are always ready to hire an MBA person so that they would start their work immediately without any training.
  3. Lots of Opportunities for Business Networking & Socialising – MBA aspirants will get many opportunities to work as an intern at leading companies and can learn a lot of things about the corporate world during their internship. Aspirants will get a chance to understand the real corporate world and it will be beneficial to them as well to sustain in the competitive world.
  4. Enhance Personal as well as Professional Skills – Doing an MBA course is always beneficial for the aspirants as it will not just provide you with professional teaching and training but also help you to boost your personality. By pursuing this course, you will definitely develop a better personality and will lead the corporate world with confidence.
  5. International Exposure – Most of the MBA colleges in India are allied with top international universities so that they could provide their students with an opportunity to complete a part of their course in their campus. Moreover, many colleges also offer internship in abroad and provide international degree after completing their internship. MBA is the only course where you will get ultimate exposure with great learning, training and foreign trip.

So, if you really want to pursue an exciting career with great income then MBA course is perfect for you. You can opt for this course as per your convenient as there are provisions for regular, part-time, evening classes and distance learning courses as well. Just choose whichever course is valuable to you and be ready to make a successful career in the corporate world with attractive salary.

(www.schoolofmanagementghy.com)

Continue Reading

Trending