Author Archive: Max Benson

5 Don’ts in Forex Trading

Trading is tricky business. There are good days and there are bad days. If you are new to this whole trading shindig, then, chances are that you are spending more time overwhelmed with what’s going on that you are actually trading. There are easy outs to being fully involved, like using trading bots like HBSwiss, however, before you get into automating your trades you need to know what to do and what not to do.

There are plenty of trading strategies out there, and while reading and research is an integral part of being an active participant in the finance market, there are some basic etiquettes to follow when you’re here. Let’s look at the top 5 don’ts in forex trading:

  1. Don’t make impulsive decisions – this is advice that is universal and especially true in the trading markets, especially currency trading. An impulse buy or sell could cost you literally every penny you have earned. The best option is to wait and watch and then jump in. There is no reward without risk, however, but a little caution and you might be able to handle the impact of a rash decision much better.
  2. Learning is a slow curve – just like with everything new that you will try out, trading will also become an acquired skill, but it is something that needs time and patience and a few losses along the way. So, observe your trading strategies on the days you make money and observe them much more closely on the days you lose cash.
  3. Avoid Inactive market hours – there’s a reason why the markets fluctuate, there are active and inactive hours. And when someone decides to trade during inactive hours of the market they could lose all their money and that’s not a good thing at all. It’s best to be active when the market is moving as well
  4. Don’t trade with your entire deposit – When you are just learning the tricks of forex trading using up all your deposit money can be fatal for you. Trade an adequate sum of money, and try to minimize your risk as much as possible.
  5. Don’t get emotional – this is money and money is not something that is governed by emotions. If you feel like you should do something big just because you made a huge profit off of one trade, then, it’s best to put a dampener on the whole thing by taking a step back and evaluating whether or not your decision will lead to a profit. If you can’t give a straightforward answer, then, don’t follow through.

3 Things to know about Binary options

notebook-1071777_1280Finally thought through and approve in the United States last 2008, Binary Options has been a sure fire way and solution in the trading industry. With binary options, trading has been more convenient and faster ever since they are invented. They are growing fast in the trading industry and have been helpful to new recruits and expert investors worldwide. Binary options are easy to understand and here are some basic information about Binary Options.

  1. Easier to understand

A binary option is the art of predicting the underlying asset movement. It is more of a prediction and a betting game on the choice between a specific asset if it is going to move or not move to a long term investment. One cannot take ownership of the assets, but they can predict if that asset is moving or not. In shorter terms, a binary option can make the investor right or wrong, depending on his/her given prediction on that asset. It is easier to understand because they are no middle play about it and it is an all for nothing or vice versa kind of trade for investors. It is all about predictions, no more and no less.

By selecting the asset you wanted to risk with, and predicting whether it will move up or down, you are all in to participate in the betting game of binary options.

  1. Things to trade

A binary option is open for trading of currency pairs (major or minor), business stocks, indices, and commodities. One advantage of binary options is it is open to all countries’ currencies and nations which mean you can trade a Hongkong Dollar and other futures to the same foundation and principle of binary options. One can also trade on a worldwide scale without changing brokers. One can trade everything from the same web host or website without changing computer screens. One tip from the experts is making sure that the computer used for binary options trading is at the most premium status.

Usually a binary option trade is about to last depending on what time frames in your area which will work for you so it is best to decide on what time frame should you follow. Some binary option trades are short in time duration, while some are a bit longer in time. If one does not have enough money for trading, some may offer a minute to five minutes options.

  1. Where do you start?

Experts suggest that finding a broker is a good thing to start. Once you had found a compatible broker (your schedules are at par and it is best if you trust and have a good working relationship), you deposit your money for trading using wire transfers or a credit card.

Once you have secured and created an account, you are set, but it is also better to use that demo trading accounts first to avoid mishaps and abrupt loss of money.

Binary options are all about predictions about underlying asset. Fast paced and considered to be exciting, they have a lot of things to offer. Start now and enjoy the endless possibility of profits!


Pros and Cons of Binary Options Automation

computer-1500929_1280Because of technology, automated binary options systems have been a buzz around the trading community which enables faster and easier transactions between binary option brokers and assets. Here are the pros and cons of binary options automation:

  1. Minimize emotional tendencies

Automated trading systems tend to lessen emotional involvement when the trading has begun and started. By checking in with emotions, brokers or traders have an easier time strategizing and sticking to their plans and predictions. Since trade orders have been done mechanically, traders will not be able to question and criticize the trade because it is automated and computer-generated. Moreover, automated systems can detect those traders who do overtrading where it is considered illegal and cheating.

  1. Automated systems can rewind and back test

By determining the credibility of the idea, back testing adheres to the rules of trading to historical market data, which you can find out more at Wikipedia. So when there is cheating involved, traders can rewind the trading data system. All rules are absolute and the computer has been told exactly what it will do by the computer programmers. Traders can test them on data before taking that risk of extending money in trading live.

Cautious back testing allows trading people to review and revise a trading idea, by also knowing the systems’ expectancy. They can interpret the past before doing anything risky.

  1. A more disciplined trading

An automated binary options’ rules are established and execute of the trade are done robotically. Discipline is kept in check because emotions are more controlled and with live trading, emotional factors can suffice like fear when it comes to losing money (and integrity), or the desire to take out a little profit from a trade. With automated binary options, it ensures discipline because the trading plan is followed strictly and with justice. Consistency is also achieved because the trade plan is followed gloriously and they can also trade the plan to others with strict guidelines and trading rules.

Problems of automated binary trading also show off in automated binary options trading. These are some common disadvantages of automated binary options trading.

  1. Failures and mechanical bugs

The principle behind automated trading is to set up the software, install and program the trading rules, and sit back, relax and watch the trade. However, when the server or an Internet connection is lost and fluctuating, an order might not be sent out to that market. A trade order could be done on a computer, depending on the trading system and if one computer disturbance has been felt, the trading transaction can be an ultimate failure.

Experts suggest that when using automated trading systems, it is a good idea to trade in small dozes and use a demo account first to explore and test out initially the automated binary system.

  1. Inability to perform

Traders who encourage back testing strategies can craft systems that look great on paper and in written form, but when applied, in the live market it can backfire. Over-optimization can happen, which defines as an excessive curve-fitting that gives off a trading plan that is unreliable in live trading. This is very common in automated binary options system.


Why Financial Freedom is Important?

currency-1033803_1280Being financially-free is not being tied down with any other financial responsibilities. Here are valuable information on why financial freedom is important and what its advantages are once you have achieved financial freedom. Indeed, it is a dream that comes true for adults to be financially free. You can find more information about financial freedom at Centument.

You are commitment-free, financially.

Being financially-free means you don’t have any debt left, which is a heaven’s promise because you are free to being followed-up by financial banks to pay your debts and other money expenditures. After working hard to free yourself from any financial dues and debts, you can gradually enjoy what it means to be debt-free.

  1. More money is being used on more important reasons

After you are free from debt, you tend to spend money on what is more important- it might be on your family in the future, or yourself. But mostly, financial freedom comes at a most important stake- that is, to use your money on much more valuable entities, which means, constant self-growth, self-motivation, and self-improvement. One can use their money for those areas like travelling often, learning something new which can open into a new business or livelihood, and visiting spiritual temples and performing duties which will improve one’s spirit.

  1. It is more on constant self-growth

Patience is a virtue and when we are constantly discovering ourselves, it is wise to be more patient than irritable because life is a big trial and error, constant failure and new discoveries. When one achieves financial freedom, it is much more than that because in the end, money doesn’t make us genuinely happy and contented with our lives. Though it is a basic need and commodity, when it comes to eternal happiness, money cannot bring us that.

Constant self-growth means that you are still discovering who you are and what you want to be, and making ways to chase and follow that dream. If you wanted to pursue another career path, then push through it. Do whatever you can to live a happy life.

  1. You can do what you love

Being free from debts, you can put your mind to other things- it might be a long discovered hobby, a new skill you want to pursue, or a side career you want to engage yourself into. Be anything you want to be and the time is here all along. With no financial debt restricting you, you can start a new chapter and pursue your passions further and longer with people who you wanted to share it with.

  1. It corrects your mistakes

Once you have achieved financial freedom, it can help you to avoid mistakes you had made financially in the past. It also gives you a valuable financial lesson to save your money, rather than spending it and investing it to something for a long term track, is the most practical reason. Moreover, it guides you to how you will budget your money and be able to keep track on them.

3 Ideas on how to make Money

dime-1205906_1280Making money is tough, especially if you are still a fresh graduate and probably had no idea on what to do in their lives. By being accepted at that first job you applied, you are excited and nervous at the same time because you can have that taste of that first pay check on hand after working long hours to prove to your employers that they picked the best- which is you! For fresh graduates and starting out employees in the work force, here are 3 tips from on how to save and make money at the same time without hassle.

  1. Make money and then save it too!

Even just 20% of it from your first salary, it can help a lot in your savings account for a start. Having an emergency savings account can help to practice your saving skills, and avoid you from being broke. Even if you have that taste of your first salary, you have to be responsible in spending and making money too. Hence, it is important to save a little percentage from that first pay and later on, from the future salary pays you will receive repeatedly every month.

  1. Participate in money making forums and online jobs

Some financial experts hold financial making forums and if you have free time, feel free to attend their seminars and learn from them- the basic to-do’s and know-how’s on how to spend and make money wisely. Being in your early 20s, it can be hard to make more money since you are still on the entry level and starting out in your careers, but one advantage a 20 something  has is his/her free time. Having free time means that you can participate in part time jobs online (even offline) to gain extra income and make money more adding up to your first regular job.

Some participate in freelance graphic design jobs, content article writing, and researching survey answering where they are getting paid just by answering a website’s research survey. Some participate in legal betting games online and online marketing, where they use the power of social media and online market websites, to sell various products and items online.

If you have a part time job online, you can add up the income you have received from that job, doubling up the income you have received from your regular job. See? Its benefits are very noticeable because you are gaining more money even as a fresh graduate with an entry level job.

  1. Become your own finance officer/manager

Still the decision to make money comes from you and managing your expenses must be your own doing. Having common sense and a firm ground on how to spend and where your money goes to are the most practical advises any financial expert can offer.  Better yet, listen to your parents on how they spend and make money, how to balance their priorities, and basically, how they somehow, figure it all out in time. Indeed, becoming your own manager regarding your finances is one of the most important tip of all time.


5 tips on Making Money

blogging-336376_1280Ever stuck on your dead end low paying job every day? Yes, we do feel like we are under appreciated in our jobs because it pays us a little, even though the job itself is heavy and a burden. Worry no more because here are some tips on how to make more money and managing your own finances.

  1. Demand a raise

A practical yet one solution that needs practice because it is considered one risky way, demanding a raise from your employer is one of the most stressful career moves because it demands defending your worth as an employee.

If you feel that you are not getting the pay you deserve in your current job, experts suggest that you demand a salary increase. However, with a demand of salary increase being done, more job responsibilities and tasks you will face because of your higher paycheck.  When it comes to defending your worth, it is one of the most difficult career negotiating tactics around which is why you must be prepared in facing your boss’ tough questions to defend yourself and your worth as an employee.

  1. Online jobs and part times

Because of technology nowadays, research-based websites can pay people to answer their online surveys and are getting paid. Also fit for students who are struggling to balance work and school, website developers can pay people just by answering research surveys, playing and testing interactive online game prototypes, and even watch their demo videos and comment on that. Others have participated in writing content articles for Search Engine Optimization (SEO) Websites which can pay them a heft of money after submitting online articles fit for that keyword they have given. Some also utilize their old school notes and scan, and upload them to scholarly websites and blogs for students.

  1. Home business

Whether you like to cook, sew, and make do-it-yourself arts and crafts, you can sell items online through the web in your own home. With the help of social media like Facebook, and blogger, you can upload fantastic items you want to sell and negotiate with your buyer regarding the price and where you will meet up or how the money will be transacted and exchanged.

  1. Set up a food stand

If you have kids at home, you can whip up lemonade for a lemonade stand, or a chocolate brownie selling business outside your doorstep or even on delivery, a food stand can be a brilliant option to make more money on your own pace. Give yourself a break and whip up new foods to sell to kids and their parents as well.

  1. Save and Invest

As much as it is hard to earn and have money, the most important tip on making one is to save and invest it for the long term. After the money you have earned even for a short while, saving it on your bank account is one practical way and in case of emergency, you can just lean on to that saved money you stored.

You should also read the suggested ways of making money by Forbes. You will find out there are a lot more ways, even more effective to make more money for yourself.