How
To Start An Import Business.
This report from 36 year veteran importer reveals tricks of the trade. A quick
visit will show that this one is genuine
discipline contributed more to their success than
their trading philosophy itself. Remember that the
key to any plan is how well
it holds over time.
2. There is no "sure thing", and there is no trading
system that is 100% accurate. Your goal, as a trader, is
to use the tools available and try to develop an edge. Base your
trades on sound fundamental and technical reasoning,
rather than on hunches and long shots. If you can develop an
edge, however small, over time you will be successful.
3. A trader must be able to admit they have made a mistake.
Do not become emotionally or financially committed to a losing
trade. Avoid the pitfall of becoming emotionally involved
with any trade.
4. An investing edge is only part of the equation. A trader
should diversify sufficiently so that the growth in equity
can be consistent and the likelihood of a catastrophic loss
can be diminished. The lower the percentage of a traders'
account dedicated to any one trade the greater the chance
of the trader being successful.Even if the trader has a perceived
investing edge, it is unwise to run the risk of ruin, and
bet it all on one trade. The goal
is not only to make money, but also to be able to continue
to make money consistently for an
extended period of time. A trader must learn the basic concepts
and the importance of money management.
5. Lack of experience in the market causes many traders to
make the mistake of taking small profits and letting losses
run.Fundamental trading wisdom dictates the exact opposite.
When in a winning trade, be patient and fully capitalize
on the
success. The trading axiom is, "cut your losses short
and let your profits run".
6. A trading system does not have to be difficult, time consuming,
complicated and stressful in order to be profitable.In trading
systems, as in many other things in life, simple can be better
7. As a trader, be cautious, and never let greed take control
of a winning position.
8. Be aware that declining volume usually indicates the market
is not accepting higher or lower prices, and this could indicate
a market turn.
9. Learn from your trading mistakes. Never make a trading mistake
without asking yourself why.
10. Do not make trading decision based solely on margin requirements,
and always trade within your capabilities.Remain true to
your trading plan and follow the trading style that works
best for you.
11. Do not trade markets that you don't understand. Trade with
confidence and conviction. Trade only with risk capital and
be aware of the risk of losing. Divide your capital into
6 equal parts and never risk more than one-tenth of your
capital on any one trade.
12. After a long period of success or a period of profitable
trades, try to avoid the natural tendency toward increasing
your trading activity. Conversely, use self-discipline when
a trade goes against your position. Take your loss and wait
for another opportunity. Never increase your trading after
a loss.
13. Avoid getting into the market because you are anxious from
waiting and/or out of the market because you have lost your
patience. Never over trade and adhere to your risk management
rules
14. Do not make a trading decision to buy just because the
price of the stock is low or sell just because the price
is high. Never change your position in the market without
a good reason that is based on a fundamental or technical
rule indicating a change in trend.
15. Trade the most active stocks and refrain from trading
the slow moving markets. Trade "at the market" whenever
possible and try to avoid a fixed buying and selling price.
16. When the market is moving with your position and you are
using a stop loss order, then raise your stop loss so as
to lock in your profit. Protect yourself against the possibility
of turning a profit into a loss.
17. The "trend is your friend," and never buy
and sell if you are insecure of the trend according to
your fundamentals
and technical rules. If you are in doubt, then exit the market.
Only trade when you feel confident with your trading strategies.
18. Trade in five or six different stocks at a time, so as
to avoid tying up all of your capital in any single stock.
19. A trader should establish a "surplus account" after
a series of successful or winning trades. The goal is to retain
the "surplus account" for times of emergency or
panic 20. It is difficult to try and guess where the top
and bottom
of the market is, instead let the market prove its top and
bottom.
About the author:
Mark Crisp
The Momentum Stock Trader
http://www.stressfreetrading.com
Info
Boost Your Income With Financial Spread Betting
by: Gary Anderson
About 6 years ago I started to notice that certain friends of
mine had quit their jobs but continued to live very luxurious
lifestyles - seemingly without doing very much. I thought they
must just be using up their savings until I discovered they were
all making a fantastic living by spending just a few hours a
week doing something I had never heard of before - �financial
spread betting�
More and more people are now becoming familiar with the phrase �financial
spread betting�. Once, the sole preserve
of City Whiz kids or sophisticated gamblers, financial spread
betting is now gaining in popularity as a great way to earn
a very sizeable tax-free income without the risk of losing
the shirt off your back!
So why is financial spread betting becoming so popular. Well,
with a bit of understanding and practice, ordinary people,
with no prior experience, can earn enormous sums whilst controlling
their risks and limiting their losses. You do not even need
a stockbroker or a city dealing account to do get involved.
An on-line account is very simple to open and anyone with web
access can do it.
Spread betting, aka futures trading, is easy to understand
if you stick to a simple index like the FTSE 100 or the DOW
JONES.
In basic terms, this is how it works:
When you buy a �future� you
take a position on what you think the index (e.g. the FTSE
100, or the DOW ) will be at some future date - e.g. June 2005.
Let�s say the FTSE is currently at 5200
and you think it will rise over the next three months as �terrorist
fever� abates. You would buy the June
FTSE at (say) �10 per point. For every
point it rises, you make �10. If it goes
up 100 points, you make �1000. Of course,
if you get it wrong and the index falls by fifty points (say),
you lose �500.00.
You need of course to be very aware of the risks before you
get involved. As with any investment or business, you can lose
money. If, by nature, you are a timid, cautious person, then
it is definitely not for you. But if you have some money to
play with, and aren�t risk adverse, then
financial spread betting is the one of the best possible ways
you can make a great deal of money completely tax free� and
there are clever ways of limiting your losses so you never
lose more than you can afford.
Unlike most businesses, it is possible to get involved with
an absolute minimal outlay and take a position without buying
a single thing. You do have to �back� your
position with a certain amount of cash, but this is �insurance� money,
NOT stake money.
The best thing is you can try it for free without any risk
at all. You can �dry trade� with �monopoly� money
until you get a feel for how it works and are confident enough
to start using real money.
Financial spread betting has become so popular primarily because
of the relationship between risk and capital. It is highly
leveraged and you can make huge profits with only a limited
amount of capital and risk. The fact that there is (unlike
with most investments) no stamp duty or tax also helps make
it extremely attractive.
So if you are of the right temperament, spread betting can
be a very lucrative way of making an amazing income in your
spare time. But be warned, if used recklessly or without the
correct knowledge it can result in large losses.
About the author:Gary Anderson.
http://www.spreadbettingsecrets.com-Gary
Anderson is the author of �Betting
On A Fortune�
the best selling book on how to make money from financial
spread betting.
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