Archive for 'Career & Money'
Habits of Successful forex professionals
Posted on 20. Jun, 2009 by Mom Mag.
Here is a test case…let’s say we have two people and we give the same amount of starting capital, strategy, platform, broker and the same market conditions, and compare their forex results after a specific time-frame. I can guarantee you that one will have made good profit while the other will have underperformed.
The above illustrates the statistical fact that over 70% of the budding forex traders out there never see their account flourish into a serious account balance. While the other 30% enjoy sizeable gains, a perpetual lifestyle and have all the time to do what they so wish. What is so special about the latter and what makes them so successful? Are they born with the Midas touch or is it luck of the draw for them?
The simple answer that separatesthe successful from the not so successful is: Habits. You see, successful forex traders took the time to learn and develop the right habits. The beginning was always hard but over time they have build up and eventually mastered the habits.
“So what are the habits of successful forex trading pros?” I hear you ask…
1. Positive Attitude
Let me explain, you can know all the tips|tricks, strategies, and insider information out there, but if you have secretly been negating yourself the opportunity to succeed with self-limiting then your chance at success will be much harder.
2. Application of knowledge
This one is a biggie, you may have heard of the old saying “Knowledge is power”… well i do not necessarily agree. I think it would be more appropriate to say “Knowledge applied is power”. Nothing beats real-life experience to help you learn from mistakes and fast track the road to success.
3. Passion
All the most super successful people I know have this in common: they are absolutely passionate about what they do and are always surrounded by a positive force of productivity. Oprah Winfrey, Donald Trump, Alexander Graham Bell and countless more have accounted their success to having a passion for what they did.
4. Having a System
It will take time to formulate all the strategies, charts, hours etc. to a style that fits with your style of living. This point is related with point number 2. You will need to apply all that you learn (take it one step at a time), and over time you will effortlessly fall into a healthy habit, ala system.
5. Controlling the Emotions
There are whole books written on the psychology of trading .Your emotions can be your biggest ally and also worst enemy in times of trading the forex market. That is why it is recommended to get used to the market via a demo account and once you are ready trade small and then increase the size of your capital as your winnings grow.
6. Never Stop Learning
Learning can be anything from 1 minute update on the finance news, to learning new strategies. Successful people make a habit of never stopping to learn new information. You should make it a goal to learn something new everyday… and slowly it all adds up at the end with great profits and a happier lifestyle
Discover a reliable and profitable source of income – forex investments!
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The Best Way To Lower Utility Bills
Posted on 14. Jun, 2009 by Angie Meza.
If you are looking for a simple and economical way to lower utility bills due to high energy costs, the solution is simpler than you think. Just make your home more energy efficient by blocking any drafts that you might be experiencing through your windows or doors. An inexpensive draft blocker will solve your problem.
As a home ages and settles, gaps can appear around windows and doors. Gaps can also be found as a result of improper installation. Either way, the result is a draft or flow of air that enters the home. Common areas for these problems include attic, basement and garage windows and doors, any doorway that leads to the exterior or any windowsill.
With the high cost of home heating oil, gas and electricity, consumers are actively seeking low cost ways to conserve energy in order to achieve lower utility bills. According to the U.S. Department of Energy, the typical family of four spends an estimated $1,900 a year on home utility bills. However, a large amount of that energy is wasted because the home is not energy efficient.
One way to lower utility bills is to evaluate your windows. While they offer an attractive view, they can also be the culprit of wasted energy. In fact, poorly insulated windows can increase your utility bills by 10% to 25% because air from inside seeps in and air from your home goes out the small openings.
Improvements to doorways can significantly lower utility bills. Small openings where the bottom of the door meets the threshold can create a costly airflow between the air inside your home and the outside air. Exterior entry doors should be checked for gaps and draft blockers added to stop the airflow.
Have you noticed that your heating system seems to stay on all the time in the winter and that your air conditioning system seems to be working overtime in the summer? Your equipment is trying to keep pace with the fluctuation in temperatures caused by drafts coming in and going out around windows and doors. If you take action, you can see your energy costs reduced by up to 25% per year.
The draft blocker, also known as draft stopper or door snake, is a very effective product. It is made from a very strong material such as polypropylene and has an insulating fill. The standard item measures about 3″ x 42″ but is flexible enough to fit anywhere. Most custom sized doors or windows can be treated with no adhesives required and little maintenance. Your cost outlay can be small but savings can be substantial.
In an effort to reduce our dependency on foreign oil and gas, the U.S. government is encouraging people to make energy efficient measures to their homes. Besides reducing our need for energy resources, consumers will instantly realize lower utility bills.
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Money Savings Travel Tips
Posted on 04. Jun, 2009 by Cheryl Maguire.
You can save a significant amount of money when traveling by doing some research before you book your trip. Here are some tips to help you save money during your next weekend or week long getaway.
Ask Friends and Family Before you Book The best way to find out information about an area you plan to visit is to ask people who have been there already. They can let you know what they liked or disliked about the hotels, sites or other relevant information. Compile a list of questions and ask as many people as possible.
Research Transportation Options Most people would assume driving to your destination is the most economical way to travel and flying is the most expensive. However you should research your options before you make your final decision. For example you can find bus fares for as little as $1 from NY to Boston. Also if you are willing to fly as a courier you might be able to fly for free.
Travel Off Season The day and time of you year you travel will influence the price of transportation, hotels and restaurants. Sometimes if you are able to travel on a Wednesday instead of a Saturday you can reduce your expenses. Even if you travel during the expensive season rates, these rates can vary according to the time of day, day of the week (weekend vs. weekday) or month (May vs July). Ask travel agents, hotel staff, or airline representatives when the least expensive rates are available. You can also do an on-line search with different dates to compare prices.
Purchase Souvenirs and Other Items Before you Travel The more preparation and items you purchase before you travel, the more money you can save. Souvenirs and other items are expensive at tourist location. You can purchase souvenirs before you travel and you children will never know the difference. You can also purchase restaurant gift certificates and attraction fees prior to your travel to save money.
BYO Drinks and Snacks Even if you are traveling without children, when you bring your own snacks and drinks you will save both money and time. If you are driving, you will avoid the need to stop to purchase these items if you already have food and drinks in the car. Ideally bring food items which could be a snack or a meal such as cereal bars.
Ask Your Hotel About Amenities If you are staying at a hotel when you check in ask about the hotel amenities and if it is possible to get a free upgrade. Some hotels offer free Internet service, free movies, free childcare/children’s activities or free toiletries upon request. Also if you become sick ask if the hotel offers medical services or medicine before you purchase it.
Browse Local Guides and Newspapers Local newspapers will list events or activities (which may be free) available while you are visiting. Both guides and newspapers also contain coupons for restaurants, activities or site-seeing.
For more money saving articles visit Swap Savers
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Simple Tips To Remove Bad Credit
Posted on 26. May, 2009 by talkingpoint.
Everywhere you look in the news today, its always more and more bad news about the credit markets. It is very hard for even people with a decent credit score to get a loan, much less anyone with a score below 650. It used to be easy, now its hard. Everyone can remove bad credit, it just takes a small amount of work.
The first thing everyone should be doing in this day and age is subscribing to some kind of credit monitoring service. All the 3 main credit bureaus all offer this service, as well as many third party providers. Just type in “credit monitoring” into Google and you will get a huge list, along with credit tricks. But be careful – there are tons of scam artists out there who are looking to steal your information. If you don’t go with one of the 3 credit companies (Experian, TransUnion, Equifax), make sure you know and trust the company you are going to give your information to. One additional source here is your credit card company. Most of them now will monitor for you for a yearly fee. The main reason for this is to find out in real time when changes are made on your credit report. It is far far easier to remove bad credit in real time than to find out 2 months or more down the line when a past due bill notice comes in the mail for an account you never opened.
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Sound Advice for Donating a Car to Charity
Posted on 23. May, 2009 by karenc.
Donating an old car to charity has many advantages to the community. The donor gets a valuable tax deduction on their itemized federal return. The charity gets some much needed money to help fund their programs. It all sounds simple. It is if you know how to do it correctly.
Here’s some advice to consider before just blindly handing over the title to your car. Find how much money the charity will receive. If you are dealing with a car donation center, ask them how much of the actual sale price the charity will receive. The term “net sale price” means the actual sale price minus auction fees, selling fees, or other fees charged by the center. In some cases, these fees may be more than the selling price of the car. If so, the charity may have to pay the donation center the difference. You won’t know unless you ask! Always make a copy of your title. Know who you are giving your car to. You should either mail your title to the charity or hand it directly to the person towing your car after they give you a receipt. Never, just leave the title in the car! If you do, you may not get a receipt and therefore, will have no proof of your donation. If you live in a state where you are required to remove the license plates, make sure you do! You won’t be able to cancel your car insurance until you have either transferred the plates to another car or returned them to the Department of Motor Vehicles. You won’t be able to do either if you leave them on the car! Make sure you keep all the correspondence between you and the charity. If you don’t, when you go to do your taxes, you’ll find yourself calling around to the various charities to find out which one you donated your car to.
Karen Campese
President/CEO
Cars4Charities Car Donation Center
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Every Little Bit of Savings Adds Up
Posted on 09. Apr, 2009 by Mom Mag.
Living on a budget is the key to financial freedom, but getting started can be frustrating. When we look at our expenses and see all of those bills we’re paying every month, it’s easy to throw our hands up in disgust. But what about all those little expenses we incur? You might be surprised to find out just how much they amount to.
It’s easy to dismiss cutting back on little things. A few dollars a month won’t make a significant difference in the big picture. But a few dollars here and a few dollars there adds up to a few more dollars. When you cut back in a lot of small ways, you could end up with a lot more money at the end of the month.
Waste Not, Want Not
One thing we can do that is good for the budget is stop wasting so much. This can apply to many areas in our lives. From eating to home heating, waste equals money going down the drain unnecessarily.
Cooking for the family instead of eating takeout or dining out is a great way to save money. But if you’re throwing food out, the benefit is reduced. So if you have leftovers, don’t let them end up in the trash. Some dishes freeze well, and this makes for easy dinners when you don’t have time to cook. You could also eat dinner leftovers for lunch the following day.
If your home is not well insulated, you’re probably wasting lots of money on home heating and cooling. Insulating will cost some money up front, but it will pay for itself quickly. If you have drafts around windows and doors, weatherstripping can help maintain the temperature of your home.
Most households waste an unbelievable amount of electricity. This can be prevented in part by using energy efficient appliances and light bulbs. Turn lights, televisions, computers and other devices off when you’re not using them, and open blinds to take advantage of the sun’s light during the day.
Do Yourself a Favor: Do It Yourself
Any time you pay someone else to do something that you could do yourself, you’re spending money unnecessarily. This applies to little things like buying coffee instead of making your own, as well as to larger expenses such as home repairs.
Many of us buy coffee or a soft drink from a convenience store or coffee shop on the way to work in the morning. This can really add up over time. Instead, make your own coffee, or buy soda in 2-liter bottles and pour some into a smaller bottle or cup to take with you. The same applies to lunches. Instead of springing for fast food, take a sandwich or something microwavable to work.
While we’re not all good at all types of repairs and maintenance, most of us can do some things for ourselves. Maybe you could change your own oil instead of paying someone else to do it. If the walls need painting, consider getting friends and family to help you do it instead of hiring a painter. Things like these can save us a noticeable amount of money right away.
When you add up the savings, little things can make a big difference to the budget. So take a close look at your budget and see what small expenses are lurking there. If you can eliminate or reduce them, it could positively impact your bottom line.
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Credit Repair Tips
Posted on 07. Apr, 2009 by Mom Mag.
In some cases, bad credit is a result of irresponsible money management. But it often occurs because of unexpected financial hardship. One day you might have all of your bills current, and the next you could become disabled or lose your job. And if you fall behind on your debts, it will wreak havoc on your credit rating.
Credit repair agencies claim that they can remove bad entries from your credit report. But did you know that you can often have them removed yourself at a much lower cost? There are two methods by which you may be able to get negative entries removed from your report.
Option #1: File a Dispute with the Credit Bureaus
The Fair Credit Reporting Act (FCRA) requires credit bureaus to investigate any item on your credit report that you dispute. If the information is found to be false, inaccurate or unverifiable, it must be corrected or removed from your report. The bureaus have 30 days from the time they receive notice of the dispute to complete their investigation.
If there is any inaccurate information on your credit report, a dispute is certainly in order. But some people have had luck disputing items that were in fact accurate, including judgments, collections accounts and repossessions. If such items are not verified by the creditor (or the court in the case of judgments) within the time limit for investigation, they must be removed.
If you decide to dispute a legitimate entry, simply write a letter to each of the credit bureaus stating that you dispute that entry. No explanation is required. But keep in mind that if the entry is verified, it will remain on your report. And if the creditor verifies the information after the 30-day time limit, the credit bureau may reinstate the entry as long as they notify you at least 5 days before doing so.
Option #2: Negotiate with Creditors
Dealing with creditors can be intimidating, especially if you’re not on good terms with them. But speaking to your creditors directly may help you get negative information removed from your credit report.
If you only have a late payment or two on your account, a creditor might be willing to remove the derogatory information once you’ve resumed a regular payment schedule. If you’ve experienced repossession or had an account turned over to collections, payment in full might persuade them to remove the negative entry. It sounds like a long shot, but you never know until you ask. Requests to remove late payment information may be made after you’ve brought you account current. But if you’re hoping for removal of a repossession or collection action, it’s best to negotiate a deal before you pay anything.
If You Can’t Get the Bad Entries Removed
There is no guarantee that disputing information on your credit report or negotiating with creditors will get negative items removed from your record. If it doesn’t, the best thing you can do is try to build up some positive information on your report.
The first thing you need to do when trying to rebuild good credit is bring past due accounts current. Try to work out a deal with your creditors to accomplish this, or talk to a credit counseling agency. But don’t miss payments on current accounts to put money toward those that are past due. If it comes down to paying one or the other, keep the current account current.
Once you’ve brought all of your accounts current, put a priority on keeping them that way. Making your payments on schedule will raise your credit score, and with the passage of time, the good entries may outweigh the bad.