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MAIN REASONS WHY FOREIGN EXCHANGE TRADERS FAIL

$5.3 Trillion dollars is traded daily in the foreign exchange (FOREX) market. Many attempt foreign exchange but without properly tools they fail. Here are the main reasons why traders fail:

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Fear – fear of losing your money will paralyze you into either not trying or doing it wrong.

Greed – greed makes you jump into trades that are not appropriate for you at that time.

Hope – being hopeful and not working off your skill will set you back. Execute.

Excitement – too much excitement will distract you from analyzing and executing your trades properly. Emotions should not be a part of trading real money!

Unrealistic targets and goals – many traders fail to learn realistic targets and goals. Learn how to properly leverage your account – lot size according to your account balance.

Lack of Knowledge – not taking the proper time to learn the foreign exchange trading industry can set you back a lot of money and time. Learn-Learn-Learn

Not entering proper stop loss – traders should always protect their money! This means setting a stop loss. Why? Unless you are a scalper, you will not see when your trade is exceeding the limit you have mentally set to get out of the trade. Sooooo…… set stop losses. Learn more about what stop losses mean to save you a lot of headache and money later. Professional traders use it, why shouldn’t you?
Setting stop loss is a large part of leveraging your account.

Lack of Capital – traders attempt to fund their account with a very small amount of money which limits them to the amount they can trade. Most blow their account because they overleverage due to little capital.

Lack of discipline – traders should always have a Trading Plan. Decide how frequent you will trade per hour/day/week/month, etc.. Decide what time of day, where, meaning your home office in your pajamas, at the kitchen table or what? While there is always a history of your trades, traders should always journal their trade activities to review and analyze their good and bad habits. It will help you in the long haul.

Elation – Too much confidence and overexcitement can cause a trader to lose much money in their account. Traders should remain calm and focused with their trades.

High Risk aversion – traders have the need to stick with their banks rather than risk their money and ultimately achieve greater success.

Poor choice of broker – Brokers apply spreads when you first select your trading pairs. Some spreads are more than 30 pips which automatically put you in a negative when your trade starts. Pick your broker wisely!

Network Marketing – Is it Worth It?

After retirement I looked for something I could do from home, on my time, and not sell, sponsor, or recruit. These were my stipulations to the network marketing world. You see, I found that network marketing is the quickest, best way to make money from anywhere in the world to anybody in the world. I tried potions, lotions, pills, and thrills and nothing worked. So I stopped. Did my research and found that unless a person learns how to MULTIPLY their money instead of adding to their bank account, they would be working for money the rest of their life.

My network marketing in the travel industry was very interesting. Not profitable, but rewarding in a personal way. I shared a lot of discount trips and flights to a lot of people. Did I make money? No. The requirements was too steep and I didn’t want to sell or convince people that it was the best for them. You see, everyone traveled, and was looking for the best discount they could get. They did not care about staying at a 5-star resort versus a hotel. They just wanted a vacation at a very discounted price and I understood that. So I stopped pushing travel on people.

While I knew there was something out there that fit me, I had yet to find it. I researched, or rather googled, everything. Kept notes, explored a lot. And a year ago I found my millionaire friend, Randy. Through educational videos and presentations Randy taught me what the banks were doing with my money. And through his mentorship I learned how to do the same thing.

This is one of many blog posts on network marketing. Please come back to see what I found. Okay, I’ll give you a hint – cryptocurrency! Yes, I found the foreign exchange market. Did you know that crypto currency is traded 24 hours a day, 7 days a way.

Stay tuned for Part 2. I promise you will see this very soon. I am too excited about it not to share. However, I like to keep my blog posts short, so sign up for our newsletter so you can be notified when Part 2 is ready.

9 tips for a healthy winter

9 tips for getting through the winter healthy

Winter is here and we’ve begun to have cold, hazardous weather. Have you planned how you will continue your healthy lifestyle before the season takes its toll? Being consistent with your exercise routine and healthy eating habits would help. Don’t sit back and accept changes to your life that would be unhealthy. Resolve to eat right, stay active and do what it takes to avoid seasonal depression. Yes, winter does bring on depression for some people who have a problem with the days ending earlier, resulting in less daylight. Some have to be medicated to ward off depression.

Start now by being proactive. Implement some DOs and DON’Ts that will keep you on the path of staying healthy.

  1. Set your goals – continue or set up a regular healthy routine that will remind you daily of your goals and deadlines. With the holidays just passed, many ditch their regular routine, but now is the time to get back up and resolve to start that routine again. Block out some time on your calendar, after family, friends, and deadlines, to allow you time for your exercises and healthy eating. Make sure some of your outings are active ones, not just shopping or the movies. If you don’t put it on your calendar as a daily/weekly commitment, you won’t do it. Make your health and exercise just as important as any other calendar item.
  2. Protect yourself again flu and cold this season by making sure you wash your hands regularly. This should be done especially while touching doors and taking public transit. Get your flu shot and get adequate rest, especially if you start feeling like something is off. Some simply take a vacation in the winter to rejuvenate?
  3. With all the fun activities available for everyone you should be able to plan some activities that involves moving, like skiing, skating or sledding. Be sure to wear appropriate clothing during these activities. Join an exercise class for when the outside is not cooperating.
  4. Plan Regular Gatherings to keep you on a routine. Sometimes just staying busy with some routine can help you avoid a slump. Immediately after holidays can be depressing if you don’t stay busy with a regular routine. If you can’t plan regular gatherings, join a Club, even if it’s a book club that meets regularly. It’s the perfect opportunity to meet new people and get out of the house. Once you’re committed, you’re more likely to follow through. You will have people to keep you accountable. Or simply make a routine of meeting a friend for breakfast or coffee. Simply schedule it – and do it.
  5. Watch your calories – You’ve probably increased your fat and sugar intake from the holidays. Now you must fight that unhealthy habit, however temporary it was by planning healthy meals rich in vegetables. And always remember not to overindulge, moderation is key. You’ll have your waistline back in no time and your mental attitude will be healthier.
  6. Sleep – Do you get enough sleep every night? Its understandable when you pushing against a deadline, but it should not be your regular routine. You cannot allow your sleeping habits to affect your overall health. Your body heals and refuels in the process. With too little sleep you will skip other important things like exercising or cooking healthy. Your immune system will get weaker for lack of sleep and become more vulnerable to viruses. With improper rest, it becomes harder to recuperate when you do get sick.
  7. De-Stress – with shorter, cooler days tend to have a negative impact on every area of your health. Some lose their will to exercise which will increase their stress along with weight gain that affects their overall personal and business relations. Many, like myself, have Seasonal Affective Disorder, which is basic winter depression. I can’t adjust to shorter days, less light. Take a vacation.  But to counteractive the onset of depression, I schedule a lot of activities with clubs and social outings in the evenings to make the time go faster. Put it on your calendar as a regular routine to meet with friends, play a sport, exercise, or simply read a good book. The key is to do it regularly.
  8. Snack Healthy – while the winter blues may drag you down and cause stress and overeating, you can still snack on healthy foods. Don’t load up on high fat/sugar foods that will only make you sluggish. Select snack foods that have antioxidants, protein, vitamins, protein and fiber. A well-rounded diet will quench your hunger while boosting your energy and add strength to your immune system.
  9. Alcohol in Moderation – While people tend to drink more during the holidays, be aware of the quantities and don’t stay consistent after the holidays are over. People tend to not be aware of their alcohol intake when they are celebrating, laughing and socializing. Alcohol has high calories and its been proven that excessive drinking can be damaging to your health. Know when to say NO. And please, please don’t drink and drive!!!

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Come back often – we will be following up with other health and life-related articles.