Now we gonna go back to basic on how to manage our budget.
A carpenter uses a set of house plans to build a house. If he didn’t the bathroom might get overlooked altogether.
Rocket Scientists would never begin construction on a new booster rocket without a detailed set of design specifications. Yet most of us go blindly out into the world without an inkling of an idea about finances and without any plan at all.
Not very smart of us, is it?
A money plan is called a budget and it is crucial to get us to our desired financial goals.
Without a plan we will drift without direction and end up marooned on a distant financial reef.
If you have a spouse or a significant other, you should make this budget together. Sit down and figure out what your joint financial goals are…long term and short term.
Then plan your route to get to those goals. Every journey begins with one step and the first step to attaining your goals is to make a realistic budget that both of you can live with.
A budget should never be a financial starvation diet. That won’t work for the long haul. Make reasonable allocations for food, clothing, shelter, utilities and insurance and set aside a reasonable amount for entertainment and the occasional luxury item. Savings should always come first before any spending.
Even a small amount saved will help you reach your long term and short term financial goals. You can find many budget forms on the internet. Just use any search engine you choose and type in “free budget forms”.
You’ll get lots of hits. Print one out and work on it with your spouse or significant other. Both of you will need to be happy with the final result and feel like it’s something you can stick to.
Wednesday, July 6, 2011
Tuesday, July 5, 2011
Investing Basics – goals behind forex chart
When it comes to investing, many first time investors want to jump right in with both feet. Unfortunately, very few of those investors are successful. Investing in anything requires some degree of skill. It is important to remember that few investments are a sure thing – there is the risk of losing your money!
Before you jump right in, it is better to not only find out more about investing and how it all works, but also to determine what your goals are. What do you hope to achieve with your investments? Will you be funding a college education? Buying a home? Retiring? Before you invest a single penny, really think about what you hope to achieve with that investment. Knowing what your goal is will help you make smarter investment decisions along the way!
Too often, people invest money with dreams of becoming rich overnight. This is possible – but it is also rare. It is usually a very bad idea to start investing with hopes of becoming rich overnight. It is safer to invest your money in such a way that it will grow slowly over time, and be used for retirement or a child’s education. However, if your investment goal is to get rich quick, you should learn as much about high-yield, short term investing as you possibly can before you invest.
You should strongly consider talking to a financial planner before making any investments. Your financial planner can help you determine what type of investing you must do to reach the financial goals that you have set. He or she can give you realistic information as to what kind of returns you can expect and how long it will take to reach your specific goals.
Again, remember that investing requires more than calling a broker and telling them that you want to buy stocks or bonds. It takes a certain amount of research and knowledge about the market if you hope to invest successfully.
Before you jump right in, it is better to not only find out more about investing and how it all works, but also to determine what your goals are. What do you hope to achieve with your investments? Will you be funding a college education? Buying a home? Retiring? Before you invest a single penny, really think about what you hope to achieve with that investment. Knowing what your goal is will help you make smarter investment decisions along the way!
Too often, people invest money with dreams of becoming rich overnight. This is possible – but it is also rare. It is usually a very bad idea to start investing with hopes of becoming rich overnight. It is safer to invest your money in such a way that it will grow slowly over time, and be used for retirement or a child’s education. However, if your investment goal is to get rich quick, you should learn as much about high-yield, short term investing as you possibly can before you invest.
You should strongly consider talking to a financial planner before making any investments. Your financial planner can help you determine what type of investing you must do to reach the financial goals that you have set. He or she can give you realistic information as to what kind of returns you can expect and how long it will take to reach your specific goals.
Again, remember that investing requires more than calling a broker and telling them that you want to buy stocks or bonds. It takes a certain amount of research and knowledge about the market if you hope to invest successfully.
Saturday, August 14, 2010
A Traders Mission And Goal
It is the mission of the trader to become a financially successful long-term trader. This can be achieved when the trader adopts and accepts The 10 Keys of Successful Trading. The trader must commit to live by the three disciplines that create the successful trader.
1. The trader must believe in The 10 Keys to Successful Trading and merge them into his personality. His success is dependent on creating a trading plan, and maintaining the discipline to TRADE THE PLAN!
2. The trader must commit himself to continued education and learn as much as he can about technical analysis and the psychology of successful trading. He must use logic, and not his emotions, in trading. The trader must learn to trade in control, not out of control!
3. The trader must map out a sound plan of equity management to insure a return on his investment. A successful plan is to trade no more than 20% of a margin account and risk no more than 5 to 10% of that account on any single trade.
Read this on how to become success and mentally strong
1. The trader must believe in The 10 Keys to Successful Trading and merge them into his personality. His success is dependent on creating a trading plan, and maintaining the discipline to TRADE THE PLAN!
2. The trader must commit himself to continued education and learn as much as he can about technical analysis and the psychology of successful trading. He must use logic, and not his emotions, in trading. The trader must learn to trade in control, not out of control!
3. The trader must map out a sound plan of equity management to insure a return on his investment. A successful plan is to trade no more than 20% of a margin account and risk no more than 5 to 10% of that account on any single trade.
Read this on how to become success and mentally strong
Sunday, August 8, 2010
A Traders Mission And Goal
It is the mission of the trader to become a financially successful long-term trader. This can be achieved when the trader adopts and accepts The 10 Keys of Successful Trading. The trader must commit to live by the three disciplines that create the successful trader.
1. The trader must believe in The 10 Keys to Successful Trading and merge them into his personality. His success is dependent on creating a trading plan, and maintaining the discipline to TRADE THE PLAN!
2. The trader must commit himself to continued education and learn as much as he can about technical analysis and the psychology of successful trading. He must use logic, and not his emotions, in trading. The trader must learn to trade in control, not out of control!
3. The trader must map out a sound plan of equity management to insure a return on his investment. A successful plan is to trade no more than 20% of a margin account and risk no more than 5 to 10% of that account on any single trade.
1. The trader must believe in The 10 Keys to Successful Trading and merge them into his personality. His success is dependent on creating a trading plan, and maintaining the discipline to TRADE THE PLAN!
2. The trader must commit himself to continued education and learn as much as he can about technical analysis and the psychology of successful trading. He must use logic, and not his emotions, in trading. The trader must learn to trade in control, not out of control!
3. The trader must map out a sound plan of equity management to insure a return on his investment. A successful plan is to trade no more than 20% of a margin account and risk no more than 5 to 10% of that account on any single trade.
Thursday, August 5, 2010
USD/CAD Technical Analysis
According to the market, this week’s trading was dominated by a tight range – 1.0280 to 1.04. Two false breakouts were seen to the downside – USD/CAD went as low as 1.0256 but quickly returned to the range, and closed at 1.0291.
Most lines haven’t changed since last week's outlook. The same range continues into the next week. 1.04 was the long term bottom border of the 1.04 to 1.0750 range, and now works as a tough resistance line. Above, 1.0550 capped the pair several times in the past, and is a minor line of resistance.
The next line of resistance is at 1.0680, which capped the pair in June and several times in July. Apart from being the long term top border of the range, 1.0750 was also tested in May. Even higher, 1.0850 was a swing high in 2009 and a swing high in May as well.
Looking down below 1.0280, the 2009 low of 1.02 is the next line of support. Note that it also worked as resistance after the pair hit parity in April. Lower, 1.01 is a minor line of resistance, and it’s followed by the ultimate support line.
Reported by,
Parita
US Dollar (Usd) monthly forecast from 14/July/10.
The extreme market fear seems to have receded and the other currencies have gaind over the past month versus the Usd. Also analysis of moving correlations seems to suggest that some currencies (such as the Pound0 seem to hold their value despite any daily downturn in the equity / risk markets. This is the prediction for 14th July 2010.
Forecast confidence level = 80 percent.
| Currency | current_value | minimum | maximum |
|---|---|---|---|
| Usd/Aud | 1.1328 | 1.1079 | 1.1617 |
| Usd/Chf | 1.0545 | 1.0036 | 1.0988 |
| Usd/Inr | 46.6800 | 45.4333 | 47.7152 |
| Usd/Cny | 6.7770 | 6.5807 | 6.9477 |
| Usd/Jpy | 88.3750 | 82.1254 | 92.8253 |
| Usd/Brl | 1.7598 | 1.6897 | 1.8287 |
| Usd/Gbp | 0.6552 | 0.6462 | 0.6697 |
| Usd/Nzd | 1.3833 | 1.3524 | 1.4276 |
| Usd/Cad | 1.0317 | 1.0122 | 1.0461 |
| Usd/Zar | 7.5314 | 7.2608 | 7.7512 |
| Usd/Eur | 0.7838 | 0.7733 | 0.7960 |
edited by,
Azhar
Thursday, December 11, 2008
Dollar Under Assault, SNB Cut Rates Again
Currency Analyst-Al Azhar
Euro Breaks Out As Dollar Under Assault, SNB Cut Rates Again
The Euro broke above the 1.3100 price level for the first time since November 5th as a SNB rate cut improved the outlook for the global economy and the dollar saw broad based weakness. The Euro would reach as high as 1.3161 despite the ECB’s December report stating that the central bank sees risks to growth outlook are to the downside.
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