Home Blog Page 2

The 3 Keys to Successful Forex Trading

0

The first key element is one we have mentioned already, it is also the one element of trading that seems to get the most attention – The Trading Strategy.

1. The Trading Strategy

Your Trading Strategy is basically how you trade, what must happen in order for you to pull the trade trigger? Most trading strategies are based upon indicators such as RSI, Moving Average or a combination of a few different indicators, personally I prefer not to trade based upon indicators. Being able to simply read the Price Action off the charts will provide you with a much stronger base in determining your trades.

Whatever your choice, having a good trading strategy is very important when trying to become a profitable Forex trader. The question is what do I mean by ‘good’? What constitutes a ‘good’ trading strategy? Most traders define a ‘good’ trading strategy as one that has a high rate of success. The truth is you need to ask, how has this ‘success rate’ been established? Over how many trades was it determined, 10 trades? 100 trades? And what about asking the question were all trades taken following the precise steps of the trading strategy?

It is not as simple as finding a trading strategy that claims to have a 70% success rate and then just running with it, chances are if you’ve been in the trading game for some time you will know that it is never that straightforward.

For e.g.

A Trading Strategy claims to have a success rate of 70%

However when you trade it, your success rate is only 40%

Why is this?

Of course it could be that perhaps Trading Strategy A does not have a 70% success rate to begin with, but let’s say for this example that is does. So, what else could be the problem? The answer is you are lacking the other two key elements of a successful Forex Trader, let’s take a look at the second one.

2. Trading Psychology

There is one key component that affects every single trade you take… you. Your Trading Psychology very often is the difference between a successful trade and an unsuccessful one.You can be the strongest minded human being on the planet, but you are still human and as a human you have emotions.

Trading is a very highly charged emotional game, especially when you are trading large amounts of money, naturally your emotions can overtake and influence your thinking/behavior as a trader. Sometimes you will subconsciously take a trade based upon your emotions, whether you are ‘Revenge Trading’ or just being plain greedy, it is all down to how strong your Trading Psychology.

You could have the best Trading Strategy in the World, but if you have a weak Trading Psychology then it counts for nothing. Let’s take a look at some of the ways in which your emotions may affect your trading decisions.

  • Emotions that hold you back from taking the trade
  • Emotions that entice you to take a trade
  • Emotions that cloud your judgement

Your Trading Psychology will improve as your exposure to the markets improve, of course I am referring to LIVE Trading with real money. Trading a DEMO account is fine to start off with, but you do not want to get too comfortable trading DEMO funds, when you are able to start trading LIVE. Please of course ensure you understand the risks involved, and NEVER trade with money that you can not afford to risk.

The final key is a game changer, most newbies don’t understand the power that it yields, the next key is Money Management.

3. Money Management

We are all different, some of us have £5,000 set aside that we can put into trading, some have only £500 and for some those kinds of figures they can only dream of. In other words we are all different, we all have different finances, different aims/goals, different reasons for trading the Forex Market.

Money Management or Risk Management, is that very important part of trading that determines how much money you will risk on a single trade. This amount will be determined by what your individual goal/s are and also how much money you have to actually invest in the market.

As a general rule of thumb, when you are ready to start trading seriously it is best to keep your risk down to 1%, and base your Money Management around that. Unfortunately, there are plenty of ‘Forex Gurus’ out there on the Internet who don’t even mention the importance of Managing your risk (steer far away from these types of people), or say that it’s okay to risk more; say 3% or even 5% (unthinkable!)

The fact is it does not matter how great a Trader you feel you are, it is simply mathematically proven that during your trading activities you will have losses and not just one here and there, but runs of losses. The question you really want to ask yourself is, will I survive during this bout of losses? Or will it wipe my account out?

Let’s say for e.g. you take a hit of 9 losing trades consecutively, you risk 5% of your account balance on each trade:

Opening Account Balance: £5,000

5% Risk per Trade: £250 Risk Per Trade

9 Losses x 5% = 45% LOSS

Remaining Account Balance: £2,750

You will lose just under half of your entire Account Balance! The time taken and the difficulty in trying to make that deficit up will be extremely difficult, and factoring in the fact that you will still have losing trades, makes the whole thing even more messy.

Let’s now take a look at what happens if we risk only 1%:

Opening Account Balance: £5,000

1% Risk per Trade: £50 Risk Per Trade

9 Losses x 1% = 9% LOSS

Remaining Account Balance: £4,550

Here we lose just under 10% of our Trading Account Balance, a very reasonable amount for a 9 trade losing streak. Be SMART, Trading is about capital preservation first, and looking at making a profit only once you have taken your Money Management into consideration.

So, there you have it. A quick look at the 3 Keys to Successful Forex Trading. Learn them, please share them via Social Media with others who are also interested in the field, spread the love!

Personal Finance Tips – Some Helpful Suggestions

0

Entrepreneur or not, your lifestyle and your decisions should be as thoroughly backed by as much meticulous planning and care as you would when you are deciding on the annual budget for a company of your own. There is a whole number of reasons why managing your money well will give you a better chance of success, and it is all about how you position yourself. Let these Personal finance tips show you how.

Finances are the name of the game, and if not kept in top shape, your cluttered finances have a way of accumulating, and then catching up. Pay heed to these important Personal Finance Tips that can help you. Whether you are one of the employees of a huge company, or self employed professionals such as commercial mortgage brokers, there is simply no excuse to mismanage your money matters. Your personal finances are every bit as crucial as corporate finances, and vice versa, although the amounts of money may vary a bit.

Make use of the following tools for managing your finances, and make the best use of them for gain, and to avoid loss. Make use of modern technology and the benefits it entail, such as the Charles Schwab Credit card. As commercial mortgage brokers will tell you, “a dollar saved is a dollar earned”.

Some Suggestions of personal finance tips –

Mint dot com

Mint has received raving reviews, and certainly, the site has a simple and easy to use and analyze format, which manages your personal finances in an exemplary manner. Mint aggregates the financial information in a comprehensive format, and you will know how to spend, and how to save. Best of all, its free of cost, and there is no software downloads, no commitments, trials or anything of that sort. All your accounts can be synced with no hassle. There are a good number of excellent

CreditKarma dot com

Another free service, CreditKarma gives you free credit reports, and you can find a lot of advice here that will help you save cash on mortgages, loans, credit cards, and a whole lot more, basically like commercial mortgage brokers. There are a good number of excellent services.

Credit cards

Well, shaky area to offer specific advice, but credit cards such as the Charles Schwab Credit card can do much to save your money, if you are smart enough to never carry a balance. If you can use the great rewards programs with no worry about the APR, you will have to live within your means and not carry balance.

Pay off all the items you want in a month by your card, and clear the balances regularly. This will enable you to reap benefits on the rewards. You can also keep track of the various expenses, as well as keep a reign on your spending habits.

You can enjoy the rewards such as those offered by Charles Schwab Credit card, if you have a brokerage account with them. There are a good range of rewards you can save on.

Explainer Video: Why Your Startup Business Should Have One?

0

There’s a certain degree of entrepreneurship boom in the market and with that there’s a surfeit of startups. How are these startups differentiating from each other to stand out in the market? Most of them are doing so by being innovative in the marketing strategies. But, are they really succeeding?

Most of the startups fail to captivate their audience in the first few years of functioning and run out of business. But, there are a few techniques that could make a difference to the marketing strategies and one of them is an explainer video. Explainer video is a very powerful way to communicate with the audience and can be useful to build a loyal base of customers. Startups can either leverage social media for promoting the video or putting it on their homepage to make it more appealing to the visitors.

Here are more reasons why your business should have one:

Your Product/Service Needs an Introduction

Your perfect business and revenue model will not work if you don’t introduce your product/service to the customers. With the help of an explainer video, you have that one chance to make a lasting impression on the audience. Ideally, a creative showcase of your product/service should be integral to your core marketing plan. A good video is bound to provoke an interest in the minds of your potential customers and hence generate more queries and eventually more sales.

Your Brand Needs to Stand Out

The market is flooding with startups. How are you going to make sure your potential customers notice you first?  It needs to be by creating a brand voice. That brand voice has a certain degree of connectivity with the audience and a persona. This can be achieved by an explainer video. Once your voice is heard, your audience becomes loyal bound by certain emotional aspects that you must appeal to and hence they transform into customers. For building a persona, you need to identify the target audience, understand their behavioral makeup and create a persona that they could connect to. Much of the success of a startup lies on its perception. How is the startup being perceived by its target audience?

You Need Your Voice to Deliver a Powerful Message

A powerful pitch is all you need! While you have mastered the business operations aspect, you may have yet another mountain to climb and that mountain is the “What’s in it for us?” question put up by your potential customers. Your explainer video can help to revamp your pitch and deliver clearly the message to an audience beyond your current location. The ideal message should highlight the startup’s features and plus points and compel its audience to think and translate that thought into positive action.

 Explainer Videos Are a Great Way to Do SEO

Video marketing is the most crucial tool of online marketing and is recommended by most online marketing strategists. Google loves video. A video is more likely to show up on the first page of search results than articles or news pieces. This increases the digital footprints of the product/service and ultimately reach to a wider audience. It is important to reach out to more people as it gets them talking, a very important standpoint in marketing a product or service. Videos incorporated on a website have proven to increase its SEO efforts. This improvement in ranking as a result of good SEO, further drives traffic towards the website and hence generates sales/awareness.

Explainer Videos Enhance Brand Recall

Videos are memorable. The music, imagery and animation appeals more to the audience. People have higher recall value of things they see and listen than just read or listen. The combination of audio and video stays in memory for long for a majority of the people. This in itself explains why video is a powerful medium to transmit information. In the fast paced life, people are seeking infotainment rather than just information. Explainer videos can deliver infotainment while effectively conveying the message shortly and precisely. Startups should aim at telling a story rather than selling products. More often than not, customers make their buying decisions emotionally. Appealing to them with the right emotion can go a long way in creating a brand loyalty.

Conclusion

In this new era of marketing, innovation and creative tweaks are the key to successful marketing campaigning, which can be achieved by explainer videos. These types of videos have higher conversion rate when it comes to generating sales inquiry. Explainer videos can benefit both the existing and potential customer as it enhances their understanding of the product or service in a more comprehensive way.

Why Viral Marketing Helps Business

0

Viral Marketing is a huge means to fix most problems running a business. Since I learned using Viral Marketing, it’s solved the problem and my clients improve business.

Advertising on the web is very important. It is the coming trend. If anybody wants anything, it could be a telephone number, a previous address, a cafe or restaurant, a plumber… anything, they visit the search engines like google. It’s fast, it is easy, it is rather simple. For companies, advertising on the internet is essential. Everybody recognizes that because everyone’s doing the work!

Here’s the issue. The current market is oversaturated because of so many web advertising services and it is become enough where they are all doing exactly the same things on the web and they are just rivaling one another now nothing works. Now you ask ,, why is MY service different in order that it saves my clients money helping make additional revenue. This is the big issue is not it?

My opportunity uses special strategies and techniques that nobody else continues to be using in many industries. Viral Marketing is really a PROVEN strategy that people use to help individuals cut costs, and generate more start up business. Viral marketing the bottom line is, is essentially digital or electronic person to person advertising. Ya know, offline it is called person to person. Online, it’s known as viral marketing. It’s where one individual informs or emails another in regards to a website, story, video, movie, restaurant, product etcetera. The content usually begins with something similar to: hey mike, you’ve gotta look at this.

Peanut uses Viral Marketing. Hamburger King uses viral marketing. Hotmail uses viral marketing. BMW uses viral marketing. Within the insurance industry, nobody’s used viral marketing!

This past year I helped 37 insurance providers improve their sales up to 50% with profit growth even greater than that. I recently helped a customer of mine within the insurance industry sell 22 more insurance plans…within the insurance industry!

Top 4 effective tips for promoting business on Twitter

0

You may be a prolific Twitter user or someone new on the block, just anyone can capitalize on the wealth that the functions on Twitter offer to help give your business the much needed boost. Once you pick up on marketing on Twitter, you will be able to harness the huge community of tweeple by sharing information so as to involve, engage and gather a strong client base. Some of the best ideas for small business marketing advised by word class marketing gurus have Twitter as part of their agenda. Here are 6 effective tips to promote your business on Twitter:

  1. Get users to comment on your business: If you let your clients to tweet out comments on your business page, blog or website, then you will be able to increase the popularity and potential of your business exponentially. When you allow your followers the ability to comment on your website while at the same time sharing these comments on twitter, you will expose your business to many twitter followers who discover your business and be interested in your services or products. Enabling this crucial process can promote your business to a large number of potential clients in the most effective way.
  2. Tweet out business updates automatically: You will be allowed to organize your business website so as to allow automatic tweeting of any updates that are added to the website on your twitter account. This process hardly involves any efforts and is extremely accessible where in you can connect to popular and relevant twitter streams. This also ensures that there is a regular followers get notified consistently of new services, products, offers, events and promotions that you role out from time to time. This will also help increase the online traffic to your website significantly.
  3. Twitter’s ‘Follow’ button: Twitter has a number of functions that allows you to efficiently connect the business website to your followers. For instance, you will be allowed to integrate a ‘follow’ on twitter button in the pages of your business website so as to enable potential clients to let them follow you. They will be notified on your services and products and they could possible turn to potential valued customers when they are updated regularly.
  4. Encouraging customer engagement: business promotion with twitter can become a rewarding experience when you encourage user engagement. When you allow potential customers to comment on your website, you should also modify your products in order to fulfill their needs and requirements. When customers post queries and comments, make sure to interact with them so that you can provide them with suitably tailored services or products. This constant conversation via twitter with your potential clients and existing customers will help you get a good hang of what your potential market is looking for and how you can improve your services. Good customer service is key to any successful business and Twitter can sure help with that in a big way!