Ten Golden Rules for Forex Traders

1. Learn the market. There are many ways to learn Forex trading technique. A great learning method is to explore the internet for great substantial material and Forex forums. There are many great websites and tools across the internet that teach Forex Trading. Additionally, many Forex companies offer learning courses; enrolling in a session is a great way to learn from the pros. 

2. Start trading with a Demo Account! Most trade platforms provide the option to create a Demo Account as a way for new clients to practice trade. Demo Accounts are a great to get to know your trading platform and build your own trading strategy before you trade. This will also provide the highest value discipline. 

3. Choose a reliable broker firm with low spreads and low costs. Before you deposit money into an account, remember, the money you are trading with should be money you can afford to lose.

4. Start by depositing a small amount. Initially only deposit somewhere between $500 to $1000. Before adding to your account, ensure everything is okay and working properly, considering your broker and your strategy.

5. Always deal with Stop Loss. Before entering a transaction, know how much you're willing to risk in order to gain. Additionally your trade should be no more than 3%-5% from your portfolio.

6. Do not trade a transaction with an unclear direction. Since it is a dangerous market, always remember a good technical analysis wins not by emotion. 

7. Leverage is a very powerful tool for tradesman. The forex market allows you to leverage up to 1:500. Learn to leverage wisely. If not used correctly, it can be a guaranteed way to lose money very quickly.

8. Analyze the Market. Use tools to analyze the market; this will insure future transactions. Try to predict the market trend identitfying support and resistance points. Market analysis is necessary for successful trading. 

9. Learn to accept the Forex Market is uncertain. As noted above, trade is unpredictable; it is not guaranteed predictions will be correct throughout the trade. This uncertainty however is also the key that leads to significant gains in forex trading. The quicker you understand to live with the uncertainty, the more successful you can be in trades.

10. Restrict your daily loss. Never reach a point of completely emptying your account; this will disable your account as you will not have enough margin to open trades. Therefore, restrict your daily loss. If you reach a point of significant loss, it is advisable to turn off your computer and return tomorrow; remember: each day is a new day with new opportunities to gain money.

Credit: Sunbirdfx

20 Habits That Will Make You A Success

1. Don’t define success with a dollar amount, but in relation to your happiness.

The habit of defining success with a dollar amount will lead you to constantly chasing a higher price point. It’s a chase that will never end, and a view of success that will never be attained. Get in the habit of seeing your success and your happiness in the same light.

2. Read before you write or work.

Reading a good book will get the creative juices flowing, the brain learning, and your knowledge base growing. Try reading for 30 minutes to start your day.

3. Wake up at the same time everyday.

Having a good sleep routine will help you have more energy to do more work during the day.

4. Always finish your to do list.

Get in the habit of never leaving anything that you wanted to finish at the beginning of the day, incomplete at the end. If you simply do what you set out to do, it will be hard for success to elude you.

5. Keep your to do list small and scaled.

Have 1 or 2 things that are important to finish, and make sure you finish them first. The rest of your tasks should be tended to only after your most important ones have been completed.

6. Keep two journals; one for your planning, scheduling, and work.

The other for your big ideas, thoughts, and goals. Writing stuff down makes it real and tangible. A to do list, a goal, or a dream, that isn’t written down isn’t yet real.

7. Measure everything.

Every goal you set needs to be measured. Every sales page you create, needs to be measured. If you measure everything you’ll have a blueprint for exactly what does work, and what doesn’t.

8. Stick to 90-minute work sessions.

Few people actually work as much as they say they work. Their time is usually made up of distractions. They Facebook, Tweet, and surf the interwebz. Time your work sessions. Keep a stopwatch. Focus for 90-minutes, take an active break, then get back to the beautiful grind.

9. Take active breaks.

A work break should enhance your working experience. It can’t – at all costs – take away from it. So do something active that will get your blood pumping and your mind working as effectively as it was when you first started working in the wee hours of the morning.

10. Wake up early.

The list of successful people who wake up before the rest of the world is far too long to list. This isn’t a coincidence. Get up before 6 am, 7 days a week and get a head start on your day and your dream.

11. Put your family first.

Success can’t exist without family – even if that “family” is simply loved ones and friends. You need to be working for a greater purpose than your own monitory gain if you’re going to accomplish truesuccess.

12. Work harder than your competition.

If you work harder than everyone else, success can’t hide from you. You will find it. And you willenjoy it.

13. Use a board.

Use a big white board to keep your goals visible and close.

14. Share your dream.

Get in the habit of talking to others who have a similar dream, even if the similarity is the enormity of your goals, and the audaciousness of your plans. Napoleon Hill coined this relationship “a mastermind”, and it’s one of the most important factors in your eventual success.

15. Only surround yourself with successful people.

That is, don’t have “suckers” in your midst – people who will tear you away from your work, and destroy your dream. If you have friends that do this, stop hanging out with them. Are they worth you living a mediocre life when greatness can be in your future?

16. Keep a healthy body.

Without a healthy body it becomes evermore difficult to maintain a healthy mind.

17. Spend your money only on things that will propel your dream.

Cars, “things”, are only good for boosting your image in an effort to impress people who you really don’t want to impress. Spend money, instead, on your own development and your business to fuel your growth.

18. Make a sacrifice.

Get in the habit of sacrificing things that you may like in your life, for things that will help you become a success. The road to greatness isn’t one of excess spending and easy living. Hustle. Focus. Sacrifice. Succeed.

19. Review your journals every month.

A journal can bring you clarity when you write in it, but it’s far more powerful when you get in the habit of reviewing it.

20. Write down 3 things you’re thankful for every day.

What you’ll find is that success is often in your midst if you look at it from the right perspective. And study after study has shown that happy people achieve far greater things than pessimistic, unhappy individuals. This habit, combined with hard work, is as simple a recipe for success as you can create. It’s also an effective one.

If your habits are those of a successful, happy, productive, hard-working person, there’s no way that you can’t be successful. Make your success unavoidable by changing your habits.

Credits: Chad howse

How to Make a Million Dollars!

No cheesy suite or hoodie needed:

Supplies:

A Google doc/Excel sheet (What’s come over me?)

Song: Million Bucks by Maino on Spotify

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Pick my income? Who does that? Isn’t salary something you grovel for with manipulative tactics? This is the plan I’m currently using that makes me want to get out of bed in the morning. No, I’m not a millionaire, YET. I’m not playing at Sir Richard Branson or even a finance specialist.I went to art school. I do know that years of business classes and working for Internet marketing gurus made me want to poke my own eye out with a pencil.

First we’re going to talk about cash in a “take what’s yours,” attitude. If you’re going to get uncomfortable click the X on the top right corner. I came from a house where talking about money in a positive sense never happened. I used to hide from my Father when the credit card bills came.

This changes all of the panic mentality around money.None of this is rocket science and I have no idea why people don’t do this. If it’s not fun you’re doing it wrong.

1. Select your ten top interests. These go in the top row of your Excel sheet. I don’t care if you’re flipping burgers right now or cleaning bathroooms. This is for you. I don’t care if you’re fending off a case of the blues because somebody left you in the park. You have ten different interests. My interests that I listed are (photography, design, marketing, public relations, writing, fitness, travel, fashion, event planning, and theater). I also have a column for non-profit work and random things that didn’t make sense in the other categories.
2. Each interest becomes a profit category. Put each interest as a column header. You are going to bank $100,000 in each of your own interests. Being a New Yorker, I never believe people when they go dropping numbers like they’re tacos. How are you going to get to $100,000?
3. Pick 10 projects for each category. This may take a bit of brainstorming but if you’re into everything from construction to body building you can get to $10,000. I know you can get to $10,000 by designing five websites or photographing five weddings. Most likely, you’ll totally outgrow that $10,000 benchmark.
4. Did you just suggest that I open 100 businesses? Not all at once, clearly. If you have enough projects going you’ll see momentum somewhere.
5. I’m sure someone is thinking, “What if one of these things fail?” You have 99 other things in your Excel sheet. Go do those.
6. I always encounter people who feel like a business must have huge costs to get started. Trying to meet just the $10,000 benchmark insures you won’t go to crazy trying to open a theme park (yet).
7. A list of 100 ideas to execute may freak you out if you see yourself as “just an illustrator.” I think it’s okay to develop a wider definition for ourselves. Fear of failure makes us come up with things like, “never a corporate sellout,” or “too down to earth want something like that.” Also, what’s cooler? A broke illustrator or one with ten projects in the mix? That they picked. In the words of Seth Godin, “pick yourself.”
8. Have fun with this. Some ideas won’t seem like a full time calling like running a film festival in your neighborhood. Except, that’s the kind of fun thing a girl could do for the rest of her life.
9. If you’re philanthropic you still have to brainstorm ways to make a profit. That’s a topic for another piece but wanting to help people is not an excuse to starve. If you’re selling the tickets to that concert for charity make sure you get paid. You’re going to learn to write yourself a check for helping people.
10. Share these with friends. You have someone in your life who will take interest in your personal training business, retreat to Bali, and bike tours.
11. Share your spreadsheets with me! I love seeing these.

“Million dollar ideas are a dime a dozen. The determination to see the idea through is what’s priceless.” - Robert Dieffenbach

Credits: Medium.com