|Wealth Building Information|
Investors - What Separates the Good Traders from the Bad Traders?
There are many forms of investing online. While I can give you a list that is a mile long, these are the most common forms of successful investments. Some of the following know how to invest terms are:
1. Option trading
I want to start this investing online critique out with a story... On a beautiful late spring afternoon, twenty-five years ago, two young men graduated from the same college. These men were very much alike. Both, better than average students, were personable and filled with ambitious dreams for the future.
For the sake of my example, I will set both college graduates off online trading using a day trading plat form. Through a gift, both start with the same online investing investment risk capital, the same daytrading plat form, and the same trading system with precise rules for entry and exits.
Shockingly, there is a difference. After one month, one day-trader went broke / bust, while the other day trader returned a 20% profit.
Have you ever wondered, as I have, what makes this kind of difference in people's trading? It is not always a native intelligence, talent or dedication. It is not that one person wants success and the other does not.
The difference lies within the psychology of the brain. Your psychological mind set is likely to play a larger role in your trading online career than your chosen technique or any other details associated with your day-to-day practice.
Here are some good examples:
1. One person looks at a glass ½ empty, while the other personality looks at that same cup as ½ full.
I am not the only one to discover this…
In his book, “Trade Your Way to Financial Freedom”, the renowned American psychologist Dr. Van Tharp discusses the role psychology plays in trading success. He divides trading into three Ingredients.
In his pie chart:
-- System is 10%
Tharp discovered that the trader's psychology make up of the mind has more to do with his success than anything else does.
However, what exactly is the psychology of the mind?
In short, the psychology of the mind refers to your thinking and emotional actions and responses to any given situation…In trading, fear, greed, vanity, pride, hope, jealousy, denial - all these can affect investment decisions. Although, your aim in the market is to maximize your profit and minimize your risk, thinking and emotions often make this easier said than done.
FOR EXAMPLE - Traders, who cannot control the psychological process of thought and emotion, make the wrong decision - such as the common amateur mistake of holding a losing position in the belief that someday it will become a winner.
Loss aversion is a classic mistake. By nature, humans value a loss. Therefore, you suffer almost twice as much pain losing $1 as you would in gaining $1. Loss aversion compels most traders to hold a losing stock while it plummets downward. This clouded judgment clearly contradicts the trading adage: cut your losses and let your profits run.
Emotional investors hold losing positions because they view paper losses differently from realized losses. An investor also engages in other forms of irrational behavior.
EXAMPLES are attributing success as natural and losses to bad luck.
This is just the tip of the iceberg. When talking about the other devastating effects of trading, if you do not have the psychology of your thought and emotions in the proper prospective the consequences can be devastating.
This is what opens up problems for new traders, and then they lose manage money very quickly in the markets. Most people completely wiped out their finances within the first year of trading. So, as you can see, your thinking and emotions play a big part in determining whether you fail or succeed, but did you know that thought and emotion make up two different spheres pertaining to trading success?
How To Get Paid Instantly Via Stormpay? Try Online Rewards Programs
E-currency is very popular on the Internet today. People use different electronic funding companies, such as Stormpay, E-gold, Paypal, Moneybookers and the list goes on. E-currency helps us to pay for online products and services; it also saves us a lot of time.
Financial Planning For Singles
Financial planning often gets a bad rap. Part of the problem is self-inflicted, since some industry participants would rather sell you a product than address your financial concerns. The process of planning is important, though, whether done with a professional or on your own. After all, you wouldn't leave on a long trip without looking at a map ? a poor analogy for some of us men, but you get the idea.
Why Get Rich When You Can Be Wealthy?
"Any fool can rich, the wise get wealthy." Chris Widener
Do You Want To Save Money Easily?
Living on credit is fashionable. Indulging oneself is fashionable. Saving money isn't.
The Parthenon Principle
Have you seen a picture of the Parthenon in Athens, Greece? I will never forget walking up to the massive granite ruins. The size and power still remaining in a building constructed 2500 years ago is overwhelming!
Building Wealth: Its An Inside Job ? Part 1
Whenever we read about building wealth or even attend a seminar for that purpose, we usually begin by assessing our present financial status. We're asked to calculate our assets and liabilities followed by a determination of where we'd like to be in a certain period of time. Being armed with this data along with assessing our present earning and saving power, we then set out to structure our financial goals. Although we try to be realistic, we still want to stretch ourselves a little bit ? after all, that's one of the purposes of setting goals, isn't it? To achieve more than we normally would if we didn't have goals in the first place. And also, goals are supposed to give us direction.
Lesson 2 - The Commodity Of Kings!
What is "The Commodity of Kings"
The Philosophers Stone
"If you know how to spend less than you get, you have the philosopher's stone" ? Benjamin Franklin
Financial Intelligence - Compounding (The Ninth Wonder of the World)
Compounding: The Ninth Wonder of the WorldBy Nicola Cairncross
The Underlying Belief System
Many of us do not consider the underlying belief system about money to be of any importance. You think it does not matter, because what matters is what you do now. Right, at one level, but not complete. All ideas that we have learned about money in the past are colouring our actions today.
How Much Do You Need To Earn Per Hour To Achieve Your Yearly Financial Goals
Have you ever asked yourself what your highest income producing activity is?
Learn To Budget
Do you like so many others feel, that even if they are earning well, are spending even more? Do you want to change all that and live in sound financial health and within your budget? Is there such a thing as a realistic budget? Are you skeptical that you can make a budget that takes into account all your necessities and provides for luxuries? You can live well and within a budget, and it starts with changing your attitudes towards money, expenditures and budget setting.
Before There Was Wall Street, There Was Gold.. & when Wall Street is gone, there will still be Gold
Paper burns and large companies can go bankrupt, but if you want a piece of the solid rock, go for Gold. Financial experts agree that the rising value of gold, which has climbed since 2001 to a 16 year high of $456 (U.S.) an ounce, is going to be spurred on in 2005. Precarious world situations, from political turmoil to flailing currencies, are taking a toll on the trade markets. The cry for stability and future security is high on the priority list for North Americans and can also be heard pulsating around the globe. Gold, along with the precious metal industries, is emerging as a reliable anchor for many investors at home and abroad.
My Ambitious Niche - A Completely NEW Way To Find Ambitious Wealth
Turn to the year 1999, a couple of friends sitting on a deck drinking beer and having a few laughs. The intelligent looking one (ME) sips a bud as he looks over to where his wife is, over through the window in the kitchen.
Top 7 Lucrative Paper Businesses You Can Run
Why not run a lucrative paper business? Paper businesses do not require large investments of capital for expensive equipment, inventory, and buildings. Many paper businesses can be run from your own home. A paper business is a business that can be operated mainly using pieces of paper, such as contracts, invoices, shipping documents, et cetera. Here are seven excellent paper businesses that you can operate.
Money can be your servant or it can be your master. The choice is yours to make. If you want to be the master in this relationship, you must learn to assert your control.
Don?t Work for Your Money, Make it Work for You!
Well, the New Year is around the corner and so are New Year's Resolutions! It's such a great time of year to consider what the past year has brought us and what we want to create in the coming year.
Learn How to Bank Like a Banker
The business of banking has changed dramatically over the last decade. Because the cost of doing business the old-fashioned way is no longer effective, banks are interested in changing their customers' behavior by encouraging electronic banking alternatives whenever possible. They have done this by charging high fees for services that were once free. If you pay $200 or more in annual fees for banking, it's time to do some competitive shopping.
Who Else Wants To Know Oprahs Secrets To Wealth & Success?
Before I had a lot of money, I was really quite happy," said Oprah Winfrey. "And I will tell you this--you may not believe it--I never would have gotten the money if I wasn't happy to begin with. I never would have gotten it."
Getting An Offshore Bank Account Via The Internet
There is no need to use the many middleman websites you will find via a search engine. Most of these are *bogus*, even the slick-looking ones. More and more banks are offering offshore bank accounts direct. Just get a list of banks in the country you're interested in, and go to their web sites.
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