Thursday, February 7, 2008

TRUTH ABOUT FOREX TRADING

The word forex is derived from Foreign Exchange and is the largest financial market in the world. It traded mainly through 24 hour-in working days inter-bank currencies. The Forex has a DAILY trading volume of around $1.9 trillion dollars 30 times larger than the combined volume of all U.S equity markets.

means that 1,898,574 stalled traders could each take 1 million dollars out of the Forex and would still have more money left than the New York stock would have daily!The Forex plays a vital role in the world economy and there wil always be a tremendous need for the forex. International trade increase as technology and communication increases. As long as there is international trade, there will be a forex market.The forex market has to exist so that a country like Japan can sell products in the United States and be able to receive Japanese Yen in exchange for US Dollars.The forex market is a cash (or “spot”) inter-bank market.

By comparison, the currency futures market is only on percent as big.The currencies of the world are on a floating exchange rate and are always traded in Naira, Euro/Dollar, Dollar/Yen etc in excess of 85 percent of all daily.Japanese Yen, Swiss France and the U.S Dollar unlike the future and stock markets, trading of currencies is not centralized on an exchange.Forex literally follows the sun around the world. Trading moves from major banking centres of the U.S to Australia and New Zealand to the far East to Europe and finally back to the U.S.In the past the forex inter-bank market was not available to small speculators due to the large minimum transaction sizes and often-stringent financial requirements. Bank, major currency dealers and the occasional huge speculator used to be the principle dealers.

Only them were able to take advantage of the currency markets fantastic liquidity and strong trading nature of many of the world’s primary currency exchange rates.Today, foreign exchange market maker brokers are able to break down the larger sized inter bank units, and offer small traders the opportunity to buy or sell any number of these smaller units (lots).These brokers give virtually any trader including individual speculators or small or companies, the option to trade the same rates and price movements as the large payers who once dominated the market. Market makers quote buying and selling rate for currencies and they profit on the difference between their buying and selling rates.

Forex has been voted the best business in the whole world by forbes magazine and that is why great American companies like Bank of America, most all major banks, major corporations, and many small traders are all trading the $1,979 trillion dollar a day forex trading market.More and more investors and entrepreneur are shunning traditional financial markets, like stocks, bonds amp, commodities and building their fortunes in the foreign exchange (forex) market places.

WHY YOU SHOULD JUMP INTO FOREX TRADING:

1. Forex is the largest financial market in the world. With a daily trading volume of over $1.5billion, the spot forex market can absorb trading sizes that dwarfs the capacity of any other market.In fact, when compared with the $50billion daily market for equities or the $30billion fortunes market it becomes quickly apparent. This gives you and million of other forex traders, almost infinite trading liquidity and flexibility.FOREX IS A TRUE 24 HOUR MARKET.

2.The forex market never sleeps. Trading positions can be entered and exited at any moment-around the globe, around the clock, six days a week. There is no waiting for an opening bell as in the case of trading stocks. It is 24 hours, continuous electronic (ONLINE) currency exchange that never closes. This is very desirable for you if you want to trade on a part time basis because you choose when you want to trade morning, noon or night.THERE IS NEVER A BEAR MARKET IN FOREX.

3. You can have access to a seamless mutually-inclusive (two-way) exchange of currencies. Meaning, because currencies trade in “pairs” (for example, US dollar Vs Yen or US Dollar Vs Swiss franc), one side of every currency pair (for example, USD/JPY – JPY = YEN) is constantly moving in relation to the other.Thus, when you buy a particular currency, you are actually simultaneously selling the other currency In that particular pair. As the market moves, one of the currencies will increase in value versus the other of curse; it is up to you to choose the correct currency to be long or short.Since currency trading always involves buying one currency and selling another, there is no structural bias to the market. This means you have equal potential to profit in both a rising or falling market.

4. High leverage up to 200:1 leverage: You are permitted to trade currencies in a highly leveraged basis up to 200 times your investment with some brokers. This is primarily attributed to the higher levels of liquidity within the currency markets. Standard 100,000 – unit currency lots can be traded with as little as 1% margin or $1,000.Futures traders, who are accustomed to margin requirements generally equal to 5% - 8% of the contract value, will immediately that the forex market provides much greater leverage, and for stock traders, who greater leverage and for stock traders, who must post at least 50% margin, there’s no comparison. If you are looking for an efficient use of trading capital.

5.Price movements are highly predictable: Although currency prices in the forex market may be volatile they generally repeat themselves in relatively predictable cycles, creating trends. The strong trends that foreign currencies develop are a significant advantage for traders who use the “technical” methods and strategies.Unlike stocks, currencies rarely spend much tone in tight trading ranges and have. The tendency to develop strong trends over 80% volumes is speculative in nature and as a result; the market frequently overshoots and then corrects itself. As a technically trained trader, you can easily identify new trends and breakouts, which provide for multiple opportunities to enter and exist position.

6.Commission: Free trading and low transaction cost when you trade forex through many brokers you willo do it totally commission free! These broker don’t charge commission to trade or to maintain an account and that goes for all clients trading the forex through them, regardless of your account balance or trading volume.This is repeating, no forex commission! What about trading fees? There is none of the usual fees to which futures and equity trades are accustomed no exchange or cleaning fees, no NFA or SEC fees. Because currencies trade over the counter (OTC) via a global electronic networking forex, what you see is what you get, allowing you to make quick decision on your trades without having to worry or account for fees that may affect your profit/loss or slippage.In the equities markets, you must pay both a commission and exchange fees. The over—the counter structure of the forex market eliminates exchange and cleaning fees, which in turn lowers transaction cost.So if forex brokers don’t charge commission, how do they make money? Like all traded financial products, over the counter currency trading involves a bid/ask spread which represent the prices at which your counter party is willing to trade. Because the currency market offers round the clock liquidity, you receive tight, competitive spreads both intra-day and night.Stock traders can be more vulnerable to liquidity risk and typically receive under trading spreads, especially during after hour trading.

7. Instantaneous order Execution and market transparency. Market transparency is the highly desired in any trading environment. The greater the market transparency, the more efficient the market becomes, unlike other markets where transparency is compromised (like in the environ scandal) forex markets are highly transparent (i.e. analyzing countries, and having access to real time research/news is easier than publicly held companies. Because of this transparency, forex traders will be able to exercise risk management strategies in accordance to the fundamental and technical indicators.The forex market offers the highest level of market transparency out all the financial markets. Because of this order execution and fill confirmation usually occur in just 1 – 2 seconds. Markets that do no offer executable prices and force traders to absorb slippage obviously compromise the trader’s profit potential considerably in a nutshell let’s hear what forex traders say about FOREX “if you think what you do is exacting, you aren’t seen nothing yet. “trading forex is like picking money up off the floor. Not trading forex is like leaving it there for some one else to pick up” by Rock Booker http://www.robbooker.com/

STEPS TO SUCCEEDING IN FOREX TRADING

1. NEVER TRY TO LEARN FOREX IN ONE DAY:There are few internet business you can understand in a matter of hours but I can bet you that forex is not of them, run from anybody who promises to teach you forex in one day especially if you have not learnt anything from forex before now. The business of forex is too complicated to be learnt in one day even if you are computer guru. The frustration, many have suffered today is rooted to this singular error. Even abroad, forex seminars are conducted between 2 – 5 days for proper understanding.

2. NEVER LEARN FROM ANYONE WITHOUT KNOWLEDGE OF THE BUSINESSTrying to learn forex from an in experienced person is like learning how to drive from someone who does not know how to drive himself. You put your life in danger. How successful you are in this business is determined by the quality of the teaching you had find out from your trainer questions like who trained them or how they got to know how to trade. Any forex expert without a teacher is a suspicious person to risk your money with.It doesn’t take long for you to find out someone who doesn’t know about a subject. All you need is to listen to him for a while.Another simple way is to ask for a reference from anyone they have trained in the past. Find out how they are doing if they are doing fine then there is nothing to fear, but make sure they are not arrange references.

3.EXPERIENCES IS SUPERIOR TO KNOWLEDGEIt is very possible to teach or preach on something you have never experienced. Many people who claim to be forex experts are only experts at delivering lectures and not trading forex itself. You can be a successful forex trade teacher without practical trading.Always find out how much experience they have in the business, because many people today have forex knowledge but not experience beware of them and make sure you don’t fall cheap for them.

4.ALWAYS START WITH A LITTLE CAPITAL A lot of people believe that the best way to get into forex is to start with at least $5,000. It is wrong. It is better you trade amount you can afford to loose than invest more money in forex you can gain or loose depending on your experience, information of forex trading because their fast %1,000 was wiped out before they understood. The system so starting with little capital will help you to trade with lower risk while you get used to the system.

5.ALWAYS BE ON THE CUTTING EDGE OF INFORMATIONIf you ask anyone who is making it in forex today; they will tell you that you have to monitor the global market especially those you know that will effect the forex market directly or indirectly. A proper interpretation of this information will guide you on when to get a trade and make a profit. There is no substitute to information if you want to make it in forex if you have no time to monitor the news yourself, then you need to depend on your monitor or subscribe to special website that will give you these news.

6.ONGOING SUPPPORT AND MONITORINGWe have found that the most crucial element that makes the difference between success and failure in forex trading is ongoing support and monitoring. It is through repetition over time that people actually learn to trade with consistent profit. We have created an environment and trading community in which this kind of learning can take place. Agobest Global solution billed to kick off from November 8, 2007 will provide a good ground to groom future forex millionaires. Our curriculum is second to none and we have the best tools available in the forex world today. The training can also be at your door post and the instructors will guide you into success in forex trading irrespective of your experience or level of computer literacy. To find out how you can participate, contact our customer services desk numbers +2348023540787, +2348076517856,+2348059293237 or email agobestcash@gmail.com or info@agobestcash.blogspot.com

QUALITIES ENTREPRENEURS NEED TO START A BUSINESS

One of the biggest myths regarding starting your own business is that you are doomed to failure unless you have a natural aptitude or a natural talent for business.In other words, if you weren't born to be an entrepreneur, then you are going to be sunk before you even start. Needless to say, this is an untrue notion. I for one was never in business.

I am a Civil servant for 15 years now, but I started my home online business. While there are a number of skills that you absolutely have to be a successful businessman, there are ways for you to develop those skills along the way.Instead of those skills, what you need to be thinking about are the qualities inherent to all good entrepreneurs. There are some of them and there are some things you need to have, but if you are interested in starting a business chances are you have them already. The first one is perseverance.

Starting a business is like the exponential version of working on a project for school.When you are learning a new concept for that project, you are going to have to go slow, but steady. If you just start, do it for a bit and then leave it alone, you are going to fail the project. But if you start it and then keep at it little by little, you are going to end up with a successful final product.This is what you need to do in business; you need to keep at it until you get to the point of being successful. In addition to perseverance, you need to have a thick skin. In the business world, you are going to meet a number of cutthroat individuals that would like nothing better than to see you fail so that they can succeed.While it is good to have business relationships with other companies, what is not so good is taking anything negative they say as the gospel and taking it completely to heart.

If you do that, then it won't take very many negative comments before you hang up your business for good. Consider taking people's advice if it is constructive, but do not listen to anyone that is completely negative.Finally, in addition to perseverance and a thick skin, you also need to have the ability to deal with failure. There are a number of people that do not have this ability and in fact there are people that give up on something after having one unsuccessful try at it. This is something that you need to avoid in business because you're going to fail at things again and again.The most successful businessmen of today were failures at some point yesterday; what makes them successful businessmen is that they did not give up.

You shouldn't give up either; if you have one quality out of these three, make sure it is the ability to deal with failure. Failure is just a step to overcome in your pursuit of your Hundred-Fold-Life.To find the best home based business ideas and opportunities so you can work at home visit: http://www.clixgo.com/

Tuesday, February 5, 2008

MAKE EXTRA INCOME AT HOME

Home base businesses have grown tremendously with much television advertising and the availability of Internet Websites. Many people are learning a new way of making a large income for their families. The average job and wage can only go so far in providing the necessary money needed to live in our inflated economy.

Gas prices, food and the over all costs of living are constantly increasing. The current income for most families is not sufficient to pay all of the bills. What is the answer? People are looking for a different way of making money without using all of their time working. Working for someone else uses much of your time and the money you earn may not be suitable for your families needs.

Having your home business could give you the freedom that you are looking for. What if you could control the amount of income you desire to earn? Some people have dreams of a better life with an extraordinary income that will provide the things in life without having to borrow from a bank. Many people would like to have a bigger house with more yard room to entertain family and friends and have a new car that that does not need constant repairs.

People who have these kinds of dreams should pursue them. There are many ordinary people who go to work everyday and do the same mundane things week after week being exhausted and feeling out of place because they are not using the creative skills that they naturally possess.

Is it possible to work fewer hours and make more money then your average go to work job by having your own home base business? With the entire home based businesses there are to choose from where does a person start? You find these businesses advertised on television and all over the Internet but which ones are legitimate and which ones are scams? Can a person really make a great income working from their home and working fewer hours then a normal job? What does a person look for when pursuing a home base business?

I have few rules that I use when considering which home base business is really a legitimate one. The first thing to look for is how large is the company or organization? If they have offices and representatives all over the country and even worldwide then maybe they are a profitable business that has proven itself with the kind of success that you want. Do not work for a loosing company. There are other things to look for when considering a home base business and that would be how open are they about there practices.

Do they have a phone number in which you could talk with someone about the business during normal working hours and how available are they when you call? How informative are they about the business and are they truly able to help you with their products or services as well as the operation of the business itself? Having a personal contact that you can talk with everyday if necessary until you are operating your own home business successfully would be great.

A personal mentor or business partner could make things in your own business function much better. Having a teacher who has started their own home base business and has achieved success would be a great access to your own business success. You can learn much from someone who has been at the beginning of a home base business right to being financially successful.

Pursue your dreams and do not let anyone stop you from doing the things that you love. You already know the kind of work that you would like to do the rest of your life. What really brings you pleasure and interests you most when it comes to earning an income? These are your dreams! Make the most of your life and live the kind of lifestyle that brings you the most joy.

Monday, February 4, 2008

20 TIPS TO SUPERCHARGE YOUR CONFIDENCE

Self-esteem may seem like a cheesy, mushy topic best suitedfor Dr. Phil and the self-help aisle, but any successful businessperson will tell you that "with risk comes reward" -- and you aregoing to need CONFIDENCE and SELF-ESTEEM to take the calculatedrisks that will get you more money, more respect, more time tospend with your family, or whatever it is you want to achieve.Self-esteem is how you feel about yourself.

If you're like mostpeople, your self-esteem can go up and down. One day you might feelreally great about yourself, unafraid to try anything. And the nextday you're just as likely to feel completely down in the dumps,unsure of yourself, unmotivated, and afraid to act.Here are some tips to keep yourself CONFIDENT and feeling goodabout yourself and your life.

1. Stop comparing yourself with other people.
Human beings can increase or decrease their sense of self-value bycontrasting themselves either positively or negatively with others.But if you play the comparison game, you'll run into too many"opponents" you can't defeat. There will always be some people whohave more than you and some who have less. So stop comparing!What's the point? It's about how you feel about yourself.

2. Stop the critic inside of you.Some people have a bad habit of putting themselves down. They saynegative things to themselves like, "I'm not good at this, Ishouldn't try" or "There you go again, stupid!" Don't do this toyourself.

Get in the new habit of catching yourself saying criticalthings about yourself and learn to silence your inner critic. Ifit's unavoidable, at least tone down the level of your criticism.Try to replace a negative thought with a positive thought.
3. Forgive and forget.Don't waste your time and energy thinking of past hurts. Your timecan be wisely spent for other productive things rather thannegative thoughts about the past. Remember, you forgive foryourself, not for the other person. So forgive that person who haswronged you -- you are doing this FOR YOUR OWN BENEFIT -- nottheirs.
Forgive them, and move on.

4. Associate with positive, supportive people.Hang out with enthusiastic people. This way, you will get infectedby their positive attitude. You will view the world in its fullshining glory and move around oozing with energy. Stay away fromnegative people. When you are surrounded by negative people whoconstantly put you and your ideas down, your self-esteem islowered. Zig Ziglar once said "You can't fly with the eagles if youcontinue to scratch with the turkeys." Cheesy, but true.

5. Get involved in work and activities you love.It's hard to feel good about yourself if your days are spent inwork you hate! Self-esteem flourishes when you are engaged in workand activities that you enjoy and make you feel valuable.

And evenif you're not in a position to make immediate changes in yourcareer, you can still devote some of your leisure time toconstructive hobbies or activities that make you happy. Whathealthy things are in your life that make you happy? Do more ofthem!

6. Be true to yourself.Live your own life -- not the life someone decided is best for you.You will never gain your own respect and you will never feel goodabout yourself if you aren't leading the life you want to lead. Soif you're still making decisions based on getting approval fromfriends and relatives, you aren't being true to yourself and yourself-esteem is lowered.

7. Talk affirmatively to others and yourself.Words carry power that can hurt other people or yourself.Similarly, words can generate enough power to give warmth andcomfort. So be conscious of your choice of words. Chooseaffirmative words when speaking with someone. Be positive withother people. Be positive with yourself.

8. Quit blaming yourself for mistakes in the past.There are many things in life that you can't control, so stopblaming yourself for negative outcomes. Instead, learn to honoryour own efforts and give yourself proper credit for things thatyou have done right, and done well. Just the fact that you arespending time reading this is a step in the right direction. Stopliving your life in the rear-view mirror. MOVE FORWARD.

9. Make a long list of your personal breakthroughs andaccomplishments.Think of times when you did something that you thought that nevercould do, but you managed to pull it off successfully. Count eventhe small breakthroughs and accomplishments. These breakthroughsshould be a source of pride! Make a long list of your ownbreakthroughs and read this list often. While reviewing your list,close your eyes and recreate the feelings of satisfaction and joyyou experienced when you first attained each success. Make a listright now.

10. Make a list of your positive qualities.Are you honest? Unselfish? Helpful? Creative? Hard-working? Begenerous with yourself and write down at least 20 positivequalities. Again, it's important to review this list often. Mostpeople dwell on their inadequacies and then wonder why their lifeisn't working out. Start focusing on your positive traits! Stopbeating yourself up.

11. Figure out the hidden strengths in your so-called weaknesses.
You can't develop high self-esteem if you constantly repeatnegative comments about your skills and abilities. Remember thatthere is always a positive in every negative if you look hardenough. For instance, you may think of yourself as stubborn, butthe flipside is that you're also persistent and dependable.

12. Rediscover and reaffirm your personal strengths.Sometimes you have to take a new inventory of what you LIKE aboutyour looks, smile, body, sexiness, health, personality, andcharacter strengths. Don't sell yourself short. It isn't wrong oregotistical to praise yourself. You are probably better than youthink you are.

13. Ignore yourself.Sometimes the real problem isn't self-esteem at all but a tendencytoward overthinking, or thinking to much about yourself and yourcircumstances. When you get this feeling, just stop, and directyour focus to other things. Forget about yourself, and apply yourenergy to completing a task that will get your further towards yourgoals.

14. Accept all compliments with "Thank You."Don't dismiss or ignore compliments. When you do this, you giveyourself the message that you don't deserve you do not deservecompliments, or you are not worthy of praise. Of course you deservepraise. Accept compliments from other people, and respond with asimple "Thank You."

15. Start giving more.Start to give more of yourself to those around you. When you dothings for someone else, you are making a positive contribution andyou begin to feel more valuable, which in turn lifts your spiritsand raises your own self-esteem. So next time you see a downcast ordowntrodden person, pick her up from the rut. Share with her thewarmth of your helping hand and watch the glow in her eyes.

16. Be your own cheerleader.Tell yourself "Go! You can do it!" This may sound cheesy, but itreally goes a long way. Then, once you accomplish a task, learn howto enjoy a few minutes of self-congratulations instead of jumpingright into the next task as if nothing happened. Imagine yourselfas your own cheerleader on the sidelines, cheering you toward thegoal, then celebrating when you reach it. Again, this isn't silly-- it's smart and contagious.

17. Start small and do a task you can accomplish easily.There's no faster way to build self-esteem than crossing items offyour "to-do" list. It always feels good to get something done. Andit doesn't necessarily have to be a monumental accomplishment. Theperson who moves a mountain starts by moving small stones. Startsmall, and build your momentum.

18. Examine your pattern of highs and lows.Perhaps you're just in a "praise starvation" mode. Maybe it's beentoo long since you got a compliment or got to do anything thatsomeone noticed. Or perhaps you started the downward spiral whenyou said some bad things to someone. It's always good to rememberthat self-esteem is a mental construct. So examine your patterns,and remember that it's all in your mind. Force yourself back to thehigh-road of positive thoughts.

19. Get some exercise.Even ten minutes on the treadmill will help. Exercise can decrease"stress hormones" like cortisol, and increase endorphins (yourbody's "feel-good" chemicals) giving your mood a natural boost. Ifyou don't exercise, go for a walk while feeding your brain withpositive thoughts. Break a sweat. You'll feel better afterward.

20. Take action!When you take action -- regardless of the result -- you feel betterabout yourself. When you fail to move forward because of fear andanxiety, you'll be frustrated and unhappy -- and you willundoubtedly deal a damaging blow to your self-esteem. So dosomething, and do something now.

Take action!That's all for now, from Agobi Paulinus.