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Joker replied to the topic 'Microloans' in the forum. 19 hours 43 minutes ago

The Microloan program provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand. The average microloan is about $13,000 and yes it does come from the SBA

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JGibbs replied to the topic 'EQUIFAX Data Breach' in the forum. 21 hours 59 minutes ago

Thanks for linking that article FINANCE GLOBE. It's amazing how far reaching the consequences are from this breach. I like your PIN number idea, but saw today where Equifax experienced a year long breach involving payroll data and pin numbers. I agree that something needs to change, but the problem with the pin number idea, is that it requires corporations, government entities, and others to be upfront when they are hacked. And they are too busy protecting their own assets and jobs against liabilities to care.

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danydebrown created a new topic ' How to manage your open position in Forex market' in the forum. yesterday

Managing your open position in the Forex market is one of the most complex tasks in the world. If you think that this market is very easy to trade then you are making a big mistake. In fact, most of the traders in the online trading industry are failing to make money on regular basis. If you look at the statistics then you will be surprised to see that only 5 % of the traders are making a consistent profit. Due to the recent advancement in technology, we all have access to the different financial instrument in the global market. More over the brokerage firms are offering a high leverage trading account to their clients which mean we can trade with big lot size with a very little amount of money. But all these facilities have made trading a complex business in this world. In this article, we will teach you how to manage your trade in the Forex market.

Never execute more than two trades in a single day
You might be thinking that why only two trades? The answer to this complex question lies within quality. If you execute more than two trades in a single day then it will be nearly impossible for you to make money in this industry since you won’t be concern about quality trade execution. Those who are trading the market with the high level of accuracy are the elite class traders in the world. The expert traders in the United Kingdom often execute only one single trade throughout the week. They always make sure that all the trading parameters are full filled by them when they place their trade. It’s true that it will be really hard for you to resist the urge of trading but it’s imperative that you learn to control your emotion. The moment you will start trading with emotion is the very moment when you start losing money in this industry.

Keep yourself updated with the market news
The Forex market is dynamic in nature and every single second it’s changing its price moment. So if you have any open trade in your online trading account then don’t think that the market will do its duty by its own. For instance, if you see that the price of a certain asset is going to hit your potential stop loss then there is no reason for you to make your loss bigger. You should immediately close your open trades to save your hard earn investment. There is saying in the Forex market that cut your losing trades early. In fact, this is the most effective way to secure your profit potential in this industry. But the novice traders always do the opposite. They always cut their winners early and never keep themselves updated with the latest market news.

Use the trailing stop loss features
The best way to maximize your profit potential in the Forex market is by using the trailing stop loss features. But to do so you need to have a solid knowledge about the minor support and resistance level in the market. If you think that this market can be traded with the simple rule then you are completely wrong. You need to learn about all the advanced techniques to maximize your profit potential in the online trading world. It’s true that you will have to face huge difficulty at the early stage of your trading career but if you stick to your system then it’s just a matter of time to become a successful trader.

Leading your life based on trading is one of the toughest tasks in the online trading world. However, if you can develop all the trading skills then it’s just a matter of time to become a successful trader. You need to learn to trade the market based on rational logic. Always place your trade with in favor of the market trend and manage your open trades just by following the mentioned tips of this article.

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Lexie replied to the topic 'Tax Breaks' in the forum. yesterday

Joker wrote:

Frankly, Wanderer, I don't really think he knows or cares where as long as it doesn't come out of his pocket. Now that he's President, his company is making millions off our government from things like the secret service staying at Trump Tower, eating there, etc. He must think we are all fools. He doesn't even foot his staff's bill when they work just because he's President. He has plenty of money to do that but he doesn't even dream about it. Just digging us a deeper hole!

If it were you Joker, what would you do? At lease he is not taking multiple vacations on taxpayers money. I prefer to give the man a chance. Our last president was certainly not the answer. Just saying.

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Lexie replied to the topic 'Business bankruptcy' in the forum. yesterday

Opening a business with no startup fee is a wonderful thing. We did this several years ago online and sold products through a 3rd party. We did incorporated just in case. Our S-corporation has worked very well as it has protected our personal assets. We have had no issues but it is good to know we have taken precautions to protect ourselves.

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JGibbs replied to the topic 'What am I missing?' in the forum. yesterday

FrankN wrote:

I am the same way. I have never had to pay the last months rent. Maybe its different in other states.
What is the purpose of requesting the last months rent? I've never clued in to what that's about. In my state there's a law that the landlord must either refund the deposit if there's no damage, or give an itemized list of damages and fees that the tenant is responsible for. I think that helps a great deal because in other areas I've resided the deposit was always kept.

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Wanderer replied to the topic 'Why you should have defined objectives in your trading career' in the forum. yesterday

Caution in South America things have become unsettled in a multiple of countries (have a connection down there and it has gotten ugly).

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Moneyes replied to the topic 'Micro Investing' in the forum. 2 days ago

I'm going to bookmark both of those. Acorn especially sounds like something to set up for my daughter who just turned 18.

Before I do though I will research through the FTC and BBB. It may be only 25 bucks a month I'm investing, but I want to make sure they're legit.

Thank you for the tips.

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Moneyes replied to the topic 'Why you should have defined objectives in your trading career' in the forum. 2 days ago

If I do get into forex trading, it will be simple. After research, I will only trade currencies in countries that are the most stable economically and politically. That already leaves the middle east and Africa out of the equation. Actually, the only currencies in the eastern hemisphere I would consider would be Scandinavian currencies.

I'm too old to be taking risks. I have to play conservatively.

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Forex trading is not like a business, it is more than a business. When you are investing your money in this sector, you have to make yourself prepare for the market volatility and other political events. The most important thing that can contribute to your career shaping is defining your objectives. Just because you like money and you want to make more of it, you have chosen to trade cannot be an explanation. You have to know why you are here and what you want to achieve. Some traders think making a profit is the only goals and objectives of their trading career when the other traders think in the long term. They stay in this industry, learn the market strategy and defines their goals. But look at the professional Swiss traders. You will be surprised to see that every single one of them have their own goal and making a profit is not their prime objective. Our article is going to help you to answer your own inner questions that you do not know the answers.

Are you here for a full time or part time?
Many traders do not know this answer. They believe that they will get the answer when they start their trading life. If trading in Forex is easy, they will trade for full time. If it’s difficult to trade, they will begin to start their trading as a part time Forex trader. It cannot be your answer. Most traders in Forex industry are part time traders as it is not possible for all of them to give their time in learning this market. Only the professional traders who have been in this sector for quite a long time are trading for a full time with a high class broker like Saxo. Before you select your strategy, know your time limit. If you can give your full time, you can go for much long term strategy like positional trading strategy. If you want to trade part time, choose day trading. When you chose to trade as your alternative source of income you are actually saving yourself from the extreme heat of this market. You will not be under extreme pressure to make a profit in every single month as you know this is not your only source of income. But being a part time trader you have to take huge responsibility and execute every order with a high level of accuracy.

Can you wait to make a profit?
When you are starting your career in Forex trading, you can have some good trades without knowing anything. It will not be repeated every time and you need to know the market. In most of the time, traders have to wait for months before they can make consistent profit in trading. There is no use of making a profit if it gets lost in the other trades that you have lost after your winning trades. If you cannot wait for profit, change your strategy and market accordingly. You can try the European market if you want to make profit quickly. You need to be consistent with your result. When you do your analysis make sure that you aim for high-risk reward trade so that if you win you can easily cover up the loss of your losing trade. Never take excessive risk to recover your loss rather follow the market trend and trade with discipline. Without following discipline and proper trading strategy you will be only losing money.

Summary: Every successful person had a definite goal in their life which helped them to overcome all the obstacles. Similarly, when it comes to Forex trading you must ask yourself about your objective. You might be looking for financial security or make your life better but the ultimate answer lies within you. But the best thing that you can ever learn being a trader is risk assessing skill in every sector of your life.

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Joker replied to the topic 'Renting when it's the only way to go...' in the forum. 2 days ago

Sometimes you think that all you could ever want is a house, however, these guys are right when they say that the expenses are many. A friend of mine had a house for about a year then found termites. The damage was extensive to part of the house. Costs were unreal!

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Finance Globe replied to the topic 'EQUIFAX Data Breach' in the forum. 3 days ago

A good article from Website Magazine for anyone with a website. Expect fake signups, orders and accounts: https://www.websitemagazine.com/blog/what-businesses-need-to-know-in-the-wake-of-the-equifax-breach

A thought I had the other day. We should all get a pin number we can change that's tied to our identity. Apply for a loan, apartment, credit card, or whatever requires a credit check, that pin needs to be verified. If we are compromised then we simply get a new pin by mail. There has to be a better way than what we are doing.

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JacksonM replied to the topic 'Percentage to Save in a Savings Account' in the forum. 4 days ago

JGibbs wrote:

What does "pay yourself first" mean exactly? I've heard that term my whole life, but never understood what that well used phrase meant for my finances.

Each month you pay your bills: home, utilities, phone, etc. When you "pay yourself first" you treat your savings account or Roth IRA or another account like you owe it a monthly payment, and you make it your first payment after you get your paycheck. Even if you're loose with your budget you can determine an amount you can move even if it's only $20. On payday, mine's automatically set up to transfer so I never see my payment to myself as part of my spending money.

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Status of my credit application

JGibbs replied to the topic 'Best tricks and tips to pay off your student loans' in the forum. 4 days ago

JacksonM wrote:

FrankN wrote:
When I was offered a loan, I only took what I needed to cover the year, including books.
I thought they only gave you enough to get by. I'll admit it's been a long time since I was in school and I didn't borrow for undergrad. But, I thought the loan only covered the absolute necessities and could't really be mismanaged that much since most went straight to the school. I think school kids realize they're going to be in debt, but I also think that they're lead to believe that holding a college degree means they'll get a great job with a great salary. So of course they'll be able to pay the money back in no time at all.


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