When it comes to currency trading, there is a simple forex secret trading knowledge or skills that could be easily possessed by professionals, home-based traders, and beginners. Before getting into the forex market, it would be advisable to learn about it.
Forex Secret Trading Skills
Many home-based foreign exchange traders think that there are forex secret trading skills possessed by professional currency traders that lead to greater success rates. It is logical that many beginners and home forex traders search the market for any way to discover and acquire the same secrets that the pros have. They think that having those perceived forex trading secrets would make them equally successful as the pros when it comes to generating income from the investment activity.
You should start asking yourself. Is there really any forex secret trading skill or knowledge that professionals exclusively enjoy to succeed as forex traders? In reality, there is no secret skill or special technical knowledge that is kept within the circle of forex pros. As a matter of fact, most professionals have almost equal knowledge and skills as those who are home-based. Many professionals have also started trading currency as home-based traders, who just want to generate revenue from investing money online.
Profitability And Safety
What home-based traders and professionals should consider as a forex secret trading knowledge is how to keep their investments in the money market as profitable and as safe as possible. Home-based traders could also keep their investments secured and lucrative if they would only practice prudence in trading accounts. They need to learn the ins and outs of the industry for them to successfully get on with trading currencies. There is no secret to that.
Currency trading may seem complicated if you look at it at first glance. However, anyone who gets the patience and interest to know the activity even more would discover that it is not as complex as it looks like. In fact, currency trading could be so simple because you would only deal with converting money into different currencies with the hope that within a period or as soon as possible converting the money to other currencies would result to profits or gains in the valuation of the amount.
Market Monitoring
A great forex secret trading skill would be the ability to learn about latest news and economic developments pertaining to specific countries or markets. As a currency trader, you should always monitor news that affects currency performance. For instance, the latest political news in the United States could lead to depreciation of the dollar. You may decide to convert your dollars into yen or euro, which could be performing better for the time to be able to increase value of your money.
Thus, it is no secret that you should be firm on learning about the market more. Even if you avail of the special forex trading robots or software available (which are highly recommended like the FAP Turbo) to make your currency trading activities much easier, you should still strive to learn more about the market on your own.
Wednesday, September 1, 2010
5 Essential Investor
If you've bought Apple's most recent piece of design technology, aka the iPad, you're more than likely a bit of a geek, but also a wily investor - which means you'll be wanting to know how you can make your shiny new appliance work it's magic and return the investment. With over 200,000 apps on offer there's a definite need to sort the wheat from the chaff, so here's our guide to the best iPad Apps that are guaranteed to help you invest wisely.
Financial Times
Free to download, but subscription required to actually read content, the FT has developed a special edition app, which has been optimised specifically for the iPad. Perfect for downloading at home and reading on the move, content includes video, news, comment and analysis, whilst users can also view portfolios, view stock and compare market trends.
Mint
The very popular Mint App is free and appeals to the average man on the street with its intelligent ability to help users keep track of accounts and budgets on the move. Tied into an account via the standard website the Mint App allows users to draw together up-to-the-minute information on all of their accounts, credit cards and investments.
Bloomberg Mobile
Lauded by those in the know, the Bloomberg App allows real-time market analysis, including all the latest news, stock quotes and company information, chart and trend analysis, and interactive graphs and charts.
E*Trade
Extending its online trading arm into the mobile environment, the E*Trade App allows users to view, analyse and actually move stock. Key functionality includes market news, account management, live watch lists and portfolios - all synchronized with an online account in real time.
Daily Finance
Bringing together information from a variety of market sources, the free Daily Finance App provides a pool of information including news, advice and tools for people who actively manage their own portfolios - meaning you can be in touch with everything from market trends, top rate offshore savings and investment quotes 24/7.
Financial Times
Free to download, but subscription required to actually read content, the FT has developed a special edition app, which has been optimised specifically for the iPad. Perfect for downloading at home and reading on the move, content includes video, news, comment and analysis, whilst users can also view portfolios, view stock and compare market trends.
Mint
The very popular Mint App is free and appeals to the average man on the street with its intelligent ability to help users keep track of accounts and budgets on the move. Tied into an account via the standard website the Mint App allows users to draw together up-to-the-minute information on all of their accounts, credit cards and investments.
Bloomberg Mobile
Lauded by those in the know, the Bloomberg App allows real-time market analysis, including all the latest news, stock quotes and company information, chart and trend analysis, and interactive graphs and charts.
E*Trade
Extending its online trading arm into the mobile environment, the E*Trade App allows users to view, analyse and actually move stock. Key functionality includes market news, account management, live watch lists and portfolios - all synchronized with an online account in real time.
Daily Finance
Bringing together information from a variety of market sources, the free Daily Finance App provides a pool of information including news, advice and tools for people who actively manage their own portfolios - meaning you can be in touch with everything from market trends, top rate offshore savings and investment quotes 24/7.
Forex Trading Software
Forex robot or forex trading software online is a useful tool that non-expert currency traders should buy and use to ensure investment success. There are benefits and setbacks that traders should be aware of.
What Is A Forex Robot?
We have grown out with the concept of robot as machines that are programmed to perform specific activities of people. Most robots we know have feet, hands, and head that are used specifically for performing and doing various tasks. Many production facilities now invest in robots to replace human outputs. Robots are also made to perform tasks that are too heavy and too complicated to be completed by people.
When it comes to foreign exchange trading, robots take a different form. A forex robot is actually a computer program that is more of a forex trading software online. Unlike the common robots we are familiar about, forex robots usually exist virtually. They are not like common physical robots that are tasked to sit in front of the computer to work 24/7.
Creation Of Such Robots
Forex robots are strategically and skillfully developed and created by expert currency traders that actively trade across the forex market. The creation is obviously inspired by the intention of expert traders to share their expertise and skills to non-expert traders and beginners. Such robots are forex trading software online that are useful to every trader in the market. The creators of the products have made sure the robots would be useful in any way. Thus, the programs could be left alone to perform important and critical tasks even if the trader is not around.
Forex trading software online are programs that could easily plug into various trading platform. The programs could also utilize and implement specific trading strategies. A trader needs to set up and input his trading plans and strategies that the robot would perform especially when he is not around. Thus, the robot would act the way the trader would do if he is online 24/7.
Benefits And Setbacks
Forex trading software online is helpful because it facilitates a more hands-off approach when it comes to market trading. All you need is to open an account in a trading platform, buy and install the robot, and set the preferences and goals for the software to proceed to continuous trading. Thus, you would just need to buy the forex robots and leave it to handle currency trading for you.
As for the setback, forex trading software online could be somehow dangerous because it would not take its own legitimate strategy. If your strategy is weak and ineffective, the forex robot would just implement that. Thus, the program is not an assurance that risks could be avoided.
A good example of a forex robot is the FAP Turbo. It is a forex trading software online that has been designed and marketed to help traders implement strategies 24/7 even when they are not around.
What Is A Forex Robot?
We have grown out with the concept of robot as machines that are programmed to perform specific activities of people. Most robots we know have feet, hands, and head that are used specifically for performing and doing various tasks. Many production facilities now invest in robots to replace human outputs. Robots are also made to perform tasks that are too heavy and too complicated to be completed by people.
When it comes to foreign exchange trading, robots take a different form. A forex robot is actually a computer program that is more of a forex trading software online. Unlike the common robots we are familiar about, forex robots usually exist virtually. They are not like common physical robots that are tasked to sit in front of the computer to work 24/7.
Creation Of Such Robots
Forex robots are strategically and skillfully developed and created by expert currency traders that actively trade across the forex market. The creation is obviously inspired by the intention of expert traders to share their expertise and skills to non-expert traders and beginners. Such robots are forex trading software online that are useful to every trader in the market. The creators of the products have made sure the robots would be useful in any way. Thus, the programs could be left alone to perform important and critical tasks even if the trader is not around.
Forex trading software online are programs that could easily plug into various trading platform. The programs could also utilize and implement specific trading strategies. A trader needs to set up and input his trading plans and strategies that the robot would perform especially when he is not around. Thus, the robot would act the way the trader would do if he is online 24/7.
Benefits And Setbacks
Forex trading software online is helpful because it facilitates a more hands-off approach when it comes to market trading. All you need is to open an account in a trading platform, buy and install the robot, and set the preferences and goals for the software to proceed to continuous trading. Thus, you would just need to buy the forex robots and leave it to handle currency trading for you.
As for the setback, forex trading software online could be somehow dangerous because it would not take its own legitimate strategy. If your strategy is weak and ineffective, the forex robot would just implement that. Thus, the program is not an assurance that risks could be avoided.
A good example of a forex robot is the FAP Turbo. It is a forex trading software online that has been designed and marketed to help traders implement strategies 24/7 even when they are not around.
Sunday, August 1, 2010
Term Deposits
Term deposits are investments done for a time period where you earn good amount of interest. These are secured investments, coming under the purview Australian Securities and Investment Commission (ASIC). Term deposits are safe place to store money. If a customer wants to break off the term deposits before these mature, he would have to pay a hefty penalty. As the rate of interest remains constant, you don't have to bother about economic changes in your country.
Consider this: a young working couple has just received incentives from the company. They wish to save the money for the future when they would shift their residence from the rented apartment to an apartment of their own. They also wish to save a part of their salary. The interest from this savings would go to deck up their home. This is a case where customers wish to earn, spend, and also maintain their liquid assets. Term Deposits offer a wonderful medium to help this dream a reality. With compound interest that can be withdrawn quarterly or monthly, some people can manage their money well as well as spend a part of it through term deposits.
Secured Investments
Term deposits are investments done for a time period where you earn good amount of interest. These are secured investments, coming under the purview Australian Securities and Investment Commission (ASIC).
Many argue that savings accounts are also safe for long term investments. Why then, investors still go for term deposits? The interest rate provided by the term deposit scheme is far more than savings account interest rate.
Protected Money
Often, youngsters cannot resist spending. Sometimes they spend it aimlessly on furniture, lavish dinners, jewelry, and so on. The result is that you've spent your savings and have not thought about placing the money you'd earn in future for rainy days.
Term deposits are safe place to store money. If a customer wants to break off the term deposits before these mature, he would have to pay a hefty penalty. As the rate of interest remains constant, you don't have to bother about economic changes in your country.
Types of Term Deposits
There are different types of term deposits with lucrative schemes and clauses to attract investors. Some term deposits are for a short period of time. The interest rate can be a little less here. Others are for a longer period of time - say five years. Naturally, the rate of interest is better and allows you to use the term deposits as an asset for future expenditure.
Many people want to collect a part or whole of the interest that is accrued through Term Deposits. You can withdraw the interests after every three or four months and take home the interest that is provided on the term deposits.
Disadvantages
There are some reasons why many enterprising people don't invest their money on term deposits but go for bonds and stocks. The reason is freedom - freedom to use the money whenever they want.
If you wish to get back the money you've put in term deposits, you need to pay a good amount of fine for it. Often, the stipulated time for the term deposits are over but even before you realize it, the deposits are renewed automatically. Naturally, you don't have the option to withdraw it without paying the fine.
Word of Caution
Term deposits look lucrative no doubt. But, they can be used as a pawn to con investors who don't know all about term deposits. Many financial institutes offering term deposits have subtle clauses which can cause harm to customers. The term deposits if not monitored, can be automatically used for another deposit - sometimes at lower rate.
So, reading the terms and conditions of the term deposits, knowing rules of the financial institute that is offering the term deposit interest rates, and finding out the credibility of the financial institute matter a lot before picking up term deposits and locking the money into it. When all these issues are well understood, you can use term deposits as a good source of income and asset earning.
Consider this: a young working couple has just received incentives from the company. They wish to save the money for the future when they would shift their residence from the rented apartment to an apartment of their own. They also wish to save a part of their salary. The interest from this savings would go to deck up their home. This is a case where customers wish to earn, spend, and also maintain their liquid assets. Term Deposits offer a wonderful medium to help this dream a reality. With compound interest that can be withdrawn quarterly or monthly, some people can manage their money well as well as spend a part of it through term deposits.
Secured Investments
Term deposits are investments done for a time period where you earn good amount of interest. These are secured investments, coming under the purview Australian Securities and Investment Commission (ASIC).
Many argue that savings accounts are also safe for long term investments. Why then, investors still go for term deposits? The interest rate provided by the term deposit scheme is far more than savings account interest rate.
Protected Money
Often, youngsters cannot resist spending. Sometimes they spend it aimlessly on furniture, lavish dinners, jewelry, and so on. The result is that you've spent your savings and have not thought about placing the money you'd earn in future for rainy days.
Term deposits are safe place to store money. If a customer wants to break off the term deposits before these mature, he would have to pay a hefty penalty. As the rate of interest remains constant, you don't have to bother about economic changes in your country.
Types of Term Deposits
There are different types of term deposits with lucrative schemes and clauses to attract investors. Some term deposits are for a short period of time. The interest rate can be a little less here. Others are for a longer period of time - say five years. Naturally, the rate of interest is better and allows you to use the term deposits as an asset for future expenditure.
Many people want to collect a part or whole of the interest that is accrued through Term Deposits. You can withdraw the interests after every three or four months and take home the interest that is provided on the term deposits.
Disadvantages
There are some reasons why many enterprising people don't invest their money on term deposits but go for bonds and stocks. The reason is freedom - freedom to use the money whenever they want.
If you wish to get back the money you've put in term deposits, you need to pay a good amount of fine for it. Often, the stipulated time for the term deposits are over but even before you realize it, the deposits are renewed automatically. Naturally, you don't have the option to withdraw it without paying the fine.
Word of Caution
Term deposits look lucrative no doubt. But, they can be used as a pawn to con investors who don't know all about term deposits. Many financial institutes offering term deposits have subtle clauses which can cause harm to customers. The term deposits if not monitored, can be automatically used for another deposit - sometimes at lower rate.
So, reading the terms and conditions of the term deposits, knowing rules of the financial institute that is offering the term deposit interest rates, and finding out the credibility of the financial institute matter a lot before picking up term deposits and locking the money into it. When all these issues are well understood, you can use term deposits as a good source of income and asset earning.
Maintain your Money
Term deposits are investments done for a time period where you earn good amount of interest. These are secured investments, coming under the purview Australian Securities and Investment Commission (ASIC). Term deposits are safe place to store money. If a customer wants to break off the term deposits before these mature, he would have to pay a hefty penalty. As the rate of interest remains constant, you don't have to bother about economic changes in your country.
Consider this: a young working couple has just received incentives from the company. They wish to save the money for the future when they would shift their residence from the rented apartment to an apartment of their own. They also wish to save a part of their salary. The interest from this savings would go to deck up their home. This is a case where customers wish to earn, spend, and also maintain their liquid assets. Term Deposits offer a wonderful medium to help this dream a reality. With compound interest that can be withdrawn quarterly or monthly, some people can manage their money well as well as spend a part of it through term deposits.
Secured Investments
Term deposits are investments done for a time period where you earn good amount of interest. These are secured investments, coming under the purview Australian Securities and Investment Commission (ASIC).
Many argue that savings accounts are also safe for long term investments. Why then, investors still go for term deposits? The interest rate provided by the term deposit scheme is far more than savings account interest rate.
Protected Money
Often, youngsters cannot resist spending. Sometimes they spend it aimlessly on furniture, lavish dinners, jewelry, and so on. The result is that you've spent your savings and have not thought about placing the money you'd earn in future for rainy days.
Term deposits are safe place to store money. If a customer wants to break off the term deposits before these mature, he would have to pay a hefty penalty. As the rate of interest remains constant, you don't have to bother about economic changes in your country.
Types of Term Deposits
There are different types of term deposits with lucrative schemes and clauses to attract investors. Some term deposits are for a short period of time. The interest rate can be a little less here. Others are for a longer period of time - say five years. Naturally, the rate of interest is better and allows you to use the term deposits as an asset for future expenditure.
Many people want to collect a part or whole of the interest that is accrued through Term Deposits. You can withdraw the interests after every three or four months and take home the interest that is provided on the term deposits.
Disadvantages
There are some reasons why many enterprising people don't invest their money on term deposits but go for bonds and stocks. The reason is freedom - freedom to use the money whenever they want.
If you wish to get back the money you've put in term deposits, you need to pay a good amount of fine for it. Often, the stipulated time for the term deposits are over but even before you realize it, the deposits are renewed automatically. Naturally, you don't have the option to withdraw it without paying the fine.
Word of Caution
Term deposits look lucrative no doubt. But, they can be used as a pawn to con investors who don't know all about term deposits. Many financial institutes offering term deposits have subtle clauses which can cause harm to customers. The term deposits if not monitored, can be automatically used for another deposit - sometimes at lower rate.
So, reading the terms and conditions of the term deposits, knowing rules of the financial institute that is offering the term deposit interest rates, and finding out the credibility of the financial institute matter a lot before picking up term deposits and locking the money into it. When all these issues are well understood, you can use term deposits as a good source of income and asset earning.
Consider this: a young working couple has just received incentives from the company. They wish to save the money for the future when they would shift their residence from the rented apartment to an apartment of their own. They also wish to save a part of their salary. The interest from this savings would go to deck up their home. This is a case where customers wish to earn, spend, and also maintain their liquid assets. Term Deposits offer a wonderful medium to help this dream a reality. With compound interest that can be withdrawn quarterly or monthly, some people can manage their money well as well as spend a part of it through term deposits.
Secured Investments
Term deposits are investments done for a time period where you earn good amount of interest. These are secured investments, coming under the purview Australian Securities and Investment Commission (ASIC).
Many argue that savings accounts are also safe for long term investments. Why then, investors still go for term deposits? The interest rate provided by the term deposit scheme is far more than savings account interest rate.
Protected Money
Often, youngsters cannot resist spending. Sometimes they spend it aimlessly on furniture, lavish dinners, jewelry, and so on. The result is that you've spent your savings and have not thought about placing the money you'd earn in future for rainy days.
Term deposits are safe place to store money. If a customer wants to break off the term deposits before these mature, he would have to pay a hefty penalty. As the rate of interest remains constant, you don't have to bother about economic changes in your country.
Types of Term Deposits
There are different types of term deposits with lucrative schemes and clauses to attract investors. Some term deposits are for a short period of time. The interest rate can be a little less here. Others are for a longer period of time - say five years. Naturally, the rate of interest is better and allows you to use the term deposits as an asset for future expenditure.
Many people want to collect a part or whole of the interest that is accrued through Term Deposits. You can withdraw the interests after every three or four months and take home the interest that is provided on the term deposits.
Disadvantages
There are some reasons why many enterprising people don't invest their money on term deposits but go for bonds and stocks. The reason is freedom - freedom to use the money whenever they want.
If you wish to get back the money you've put in term deposits, you need to pay a good amount of fine for it. Often, the stipulated time for the term deposits are over but even before you realize it, the deposits are renewed automatically. Naturally, you don't have the option to withdraw it without paying the fine.
Word of Caution
Term deposits look lucrative no doubt. But, they can be used as a pawn to con investors who don't know all about term deposits. Many financial institutes offering term deposits have subtle clauses which can cause harm to customers. The term deposits if not monitored, can be automatically used for another deposit - sometimes at lower rate.
So, reading the terms and conditions of the term deposits, knowing rules of the financial institute that is offering the term deposit interest rates, and finding out the credibility of the financial institute matter a lot before picking up term deposits and locking the money into it. When all these issues are well understood, you can use term deposits as a good source of income and asset earning.
Maximize Your Profits
The foreign exchange market is the largest financial market in the world and also the most liquid one. It operates 24 hours a day and it can change from one moment to the next. Trading manually, without the help of a software can be very hard to do.
A forex robot can help you maximize profit in a number of ways.
First, there is the matter of speed. A human could never beat the speed of a robot. Just a small delay in selling or buying currencies can cause huge losses. Automated systems can help you overcome this problem, because they never hesitate and they don't ever experience fear or greed. Robots are emotionless and that is a huge benefit, because their decisions are always rational. They are based around pre-defined criteria and rules. On the other hand, during volatile market conditions, human traders may divert from a profitable and proven system due to panic and fear.
What is more, a software never gets tired and never sleeps. Every day a perfect opportunity to make a profit will present itself in the market, but you probably won't be there to grab it. You may be asleep or be at work and the opportunity will simply pass you by. This won't be the case, if you use a forex robot. A robot can execute the trades without having to stop. It can monitor the market night and day and not only with a particular currency pair, but with all currencies. The only thing you will have to do is to set the minimum price below which a specific currency should be bought and the maximum price above which the currency should be sold.
Next and just as important learn to know yourself; understand your own particular frailties and be aware of how they affect your trading decisions. Many say discipline is important but this is only part of it, self knowledge is probably more important as it will help you become self aware of emotional extremes. Over confidence and under confidence - or put a more traditional way 'fear and greed' - describe the cycles of feeling that all market participants go through as they trade. Basically don't trade when you are over confident or the chances are you will give all your winnings back to the market. After a good run of wins you need to be able to walk away from the table just at the moment when you probably feel most confident and most tempted to make another big trade. It is important to remember that no-one can be right every single time and all traders go through losing streaks. This is where you need to develop resilience. It is often the case that in the depths of despair lie the first glimmerings of hope - and glitterings of riches. You need to be able to get through a string of loses and keep trading even when you least want to, as it is often at moments like that, in the depths of despair, that the best opportunities present themselves.forex trading tips
The final most important piece of advice is to keep going whatever. View trading as an art which you have decided to dedicate a portion of your life to mastering not a means to quick riches. The majority of traders give up too soon or lose all their money too quickly and so miss out on the possible wealth they might have made if they had stuck at it. Remember, the longer you trade and the more experience you amass the higher up the ladder you will get. The more experienced you become the more traders there will be in the market who are less experienced than you and from whom you can make money. If you hang in there, there is more chance you will be the one on the right side of the trade not the other way round, so enjoy the ride, make trading fun, love it with a passion and you'll get there eventually!
A forex robot can help you maximize profit in a number of ways.
First, there is the matter of speed. A human could never beat the speed of a robot. Just a small delay in selling or buying currencies can cause huge losses. Automated systems can help you overcome this problem, because they never hesitate and they don't ever experience fear or greed. Robots are emotionless and that is a huge benefit, because their decisions are always rational. They are based around pre-defined criteria and rules. On the other hand, during volatile market conditions, human traders may divert from a profitable and proven system due to panic and fear.
What is more, a software never gets tired and never sleeps. Every day a perfect opportunity to make a profit will present itself in the market, but you probably won't be there to grab it. You may be asleep or be at work and the opportunity will simply pass you by. This won't be the case, if you use a forex robot. A robot can execute the trades without having to stop. It can monitor the market night and day and not only with a particular currency pair, but with all currencies. The only thing you will have to do is to set the minimum price below which a specific currency should be bought and the maximum price above which the currency should be sold.
Next and just as important learn to know yourself; understand your own particular frailties and be aware of how they affect your trading decisions. Many say discipline is important but this is only part of it, self knowledge is probably more important as it will help you become self aware of emotional extremes. Over confidence and under confidence - or put a more traditional way 'fear and greed' - describe the cycles of feeling that all market participants go through as they trade. Basically don't trade when you are over confident or the chances are you will give all your winnings back to the market. After a good run of wins you need to be able to walk away from the table just at the moment when you probably feel most confident and most tempted to make another big trade. It is important to remember that no-one can be right every single time and all traders go through losing streaks. This is where you need to develop resilience. It is often the case that in the depths of despair lie the first glimmerings of hope - and glitterings of riches. You need to be able to get through a string of loses and keep trading even when you least want to, as it is often at moments like that, in the depths of despair, that the best opportunities present themselves.forex trading tips
The final most important piece of advice is to keep going whatever. View trading as an art which you have decided to dedicate a portion of your life to mastering not a means to quick riches. The majority of traders give up too soon or lose all their money too quickly and so miss out on the possible wealth they might have made if they had stuck at it. Remember, the longer you trade and the more experience you amass the higher up the ladder you will get. The more experienced you become the more traders there will be in the market who are less experienced than you and from whom you can make money. If you hang in there, there is more chance you will be the one on the right side of the trade not the other way round, so enjoy the ride, make trading fun, love it with a passion and you'll get there eventually!
Friday, July 2, 2010
Golden Future
Greece received a $143-billion bailout package from two sources, the Euro Zone and the International Monetary Fund.
The Euro Zone is made up of 16 European member states which have adopted the Euro currency as their sole legal tender. The International Monetary Fund (IMF) is an international organization formed to stabilize international exchange rates, etc. and offers highly leveraged loans. Its headquarters is in Washington, D.C.
Since Greece borrowed too much money for too long and now can't pay it back, British economists told the Greek government to "abandon the Euro" and to default on their sovereign debt to save the Greek economy.
When that happens, look for Spain and Portugal to follow. Together Greece, Spain and Portugal have a combined public and private debt totaling $2.6 Trillion according to the economists at The Royal Bank of Scotland. There is no feasible way these countries can pay that debt back.
So, the assumption that the Euro was stable and would last forever is found to be wrong. The life of the Euro may be only months, at the longest a couple of years. Even the citizens of Greece see the looming catastrophe as vendors sell gold coins as fast as their paper assets can be converted.
German citizens, remembering the currency crisis of the 1930's, are rushing to buy gold coins. In the very near future, individual European countries will dump the Euro.
Last year Russia, China and India, along with other emerging countries, with their need to balance vast U.S. dollar reserves, found that the easiest way to do that is to buy gold. [Call Today] 888-98-Buy-Gold BuyMetalsNow.com
Governments around the world promised citizens economic security in the form of pensions and health benefits which they cannot possibly afford.
The US debt problem looms over all of Europe's debt issues. Our financial crisis is just starting. The IMF has said that the gross public debt of the US will reach 97% of GDP next year and 110% by 2015. That kind of debt is unsustainable.
If debt continues to slow our economy's growth, we will never be able to grow our way out of debt. Yet, the Treasury continues to print money, continuing our monetary instability.
Expect the same in Europe, despite the European Central Bank's anti-inflation mandate. In 2009, Central Banks, which used to be net sellers of gold, are now buyers of gold.
Bernard Shaw once said: "You have to choose between trusting the natural stability of gold or the natural stability and intelligence of members of the government. And with due respect to these gentlemen, I advise you, as long as the capitalist system lasts, to vote for gold."
Look at the final phase of the global financial crisis, the destruction of money's value and the shrinking US dollar. The disaster has already begun.
The US is now the single most indebted nation in the history of the world.
But…gold is still the ultimate safe haven, holding its value better than any other asset class.
Crisis Looms
A crisis looms. Supplies of silver are quickly disappearing as the worldwide market demand continues to grow. New high-tech uses for silver and the demand outpacing the annual production every year since 1990 is causing the depletion of silver's above-ground stockpiles.
Once the largest stockpile of silver in the world, the US government dumped multiple billions of ounces of silver over the years into the world market thereby depressing silver prices. With no stockpile, the US is now purchasing silver at current rates. [Call Today] 888-98-Buy-Gold or visit:SilverForMyIRA.com
Seventy percent of silver production comes as a by-product of other kinds of mining (copper, gold, lead, zinc) which is incapable of keeping up with the current demand for silver.
The supply and demand gap of silver grows wider every day. Silver deposits and reserves have been identified, but until silver prices drive enough pressure to make extraction viable, the profit risk to mines that only produce silver are entirely reliant on the price and demand of the silver.
Silver is the world's most versatile metal. It is most commonly used today as an industrial commodity. Silver has many unique properties. Silver's basic scientific properties continue to be in high demand from high-tech products to computer chips to solar power generators.
Yet silver production is not expected to grow in 2010. CPM, a consultancy firm, states that 12 billion ounces of silver existed in 1900. In 2008 only 680.9 million ounces existed. That's a 94% drop in the above-ground supply. In 2010, it's about 300 million ounces.
Once the world's refined silver has been consumed by industry, it's gone, it's gone forever. More than 95% of all the silver ever mined has already been consumed by industrial use.
Since becoming an essential raw material in the 21st century's global economy, the looming silver crisis will strike at the heart of the major industries that rely on it for its component elements. Many of silver's industrial uses include being used in trace amounts which cannot be recycled, yet the demand is ever increasing as discoveries of its uses grow.
Just to name a few: jewelry, use in the production of solar energy, mirrors, solar cells, silver based batteries that are environmentally friendly, potential applications (because of its anti-bacterial properties) include uses in medical applications for clothing, socks, sportswear, fabrics, hospital and dental furnishings, upholstery, tools, surfaces, clothing, gowns, washes, etc.
Silver is an industrial commodity which manufacturers worldwide do not stockpile. Even a back order of one month could cripple their production of products.
Think what will happen when industrial manufacturers begin to feel the effects of delays in their silver orders. Will they panic? Will they quickly try to build inventories with on-hand supplies?
A wholesale shortage is looming just beyond the current widespread retail silver shortage.
One thing that sets silver apart from gold. The demand for gold is from investors. The demand for silver is from industrial users.
Not Reusable
Neither silver nor gold are being used as a circulating medium of exchange or as common currency. Neither will silver or gold lose value or be nationalized. Ironic that the first silver currency of the modern Greek state was called the Phoenix, considering Greece's financial woes of today.
The gold and silver buying mania is everywhere as investors see the success of precious metal owners' portfolios. To rebuild, guard and prosper after the fiscal politics that devalued the dollar, investors are capitalizing on the profits created by the real intrinsic worth of gold and silver.
People around the world recognize silver's value and it is a popular affordable investment. The US has now allows IRA's (Individual Retirement Accounts) to invest a portion of that portfolio in silver bullion and silver coins. [Call Today] 888-98-Buy-Gold or visit:SilverForMyIRA.com...
However, banks do not want the populous to protect their wealth by saving or hoarding gold or silver. They need movement in the circulation of money to keep bank profits growing.
This worldwide awareness of self-protection of assets through precious metals has reached the common man who is also attempting to repair recent losses and prepare for future profits, if only one silver coin at a time. Since silver is so under priced, and in a lower price bracket then gold, is it easier to accumulate.
Yet, demand for silver is skyrocketing. Just look at the population of China and its needs for silver in the manufacture of electronic, electrical and medical goods to supply its citizens. Its population is as big as Europe and the US put together and its economy, in just the last 10 years grew 300%.
The demand, the limited availability and the small supply of silver are driving its value to unheard of heights as the dollar continues to weaken. When industrial supply and investment demand converge, a global surge will take place. Depletion by industrial usage and shortages caused by lack of new mining will enhance and propel this silver surge.
In 2009, silver posted an average price of $14.67, the second highest average since the high reached in 1980. Much of that strength is attributed to the high demand for silver exchange traded funds (ETFs) as well as physical retail investment. Also, a 21% increase in coins and medals fabrication created this new record.
In an article in Barron's Magazine it was concluded that using the Silver Institute's figures, that the total world silver stock is 650 million ounces, the world would run out of silver completely in 4 years.
Reflect on the fact that Central Banks dumped silver and the fact that these same Central Banks will never get it back. The reason? The silver is being consumed and can't be replaced.
The low price of silver is actually encouraging more consumption and less production! Yet, investors continue to turn to silver as a safe haven against sovereign debt risks
Wednesday, June 2, 2010
Stock Market
There are generally three types of orders that can be used when placing trades. These are market orders, stop orders and limit orders. They are variations on each to which traders should be aware of. These variations are present for security and precision and there are occasions where more then a single order is required.
Market Order – Basic Trade
A market order is where a trader purchases or sells their security at the best market price available. There are two variations on the market order. The Market on Open Order means that the trade must be done during the opening range of trading prices. So the highest price for selling and lowest price for buying.
The Market on Close order is done within minutes of the market closing. This is done at whatever price is available at the time.
Limit Order – Buying at a Lower Price/Selling at a Higher Price
Limit orders involve setting the entry or exit price and then aiming to buy below the limit or sell above it. You can set two conditions on this, one is “Good for A Day” and the other is “Good till Cancelled.” Both of which are self-explanatory. They of course can be changed any time before execution. Reaching these limits/targets is not always possible and sometimes the orders do not go through. Limit orders are very common for online traders.
Stop Orders
Stop orders are used for both opening and closing positions. They are the opposite of Limit Orders. In a limit order the case was that when a price rose to a certain level a sell order was given, in this case a buy signal is given and vice-versa for when the price drops. In the case of a sell stop, it is done so buyers can cut their losses when a share price falls too low. A “Buy stop” is more common and is put into place if the share price is predicted to break through its peak level and head to a new high.
There are down sides and risks associated with both types of stop orders though and should be made with careful scrutiny. Traders should be sure their technical analysis are correct in predicting breakthroughs in share prices in the risk of buying high and selling low.
Traders can also use “guaranteed stops” to protect their position. This is a stop guaranteed by the broker and is ideal if the share takes a sharp sudden turn.
The variations in the three orders require traders to be well aware of their options when trading. Studying the stock and predicting the trend accurately is very important. Stop buys are ideal for securities you expect to break through upwards. Stop sells are for shaky markets that may turn any time. Limit orders are for conservative stocks that are fluctuating.
Market Order – Basic Trade
A market order is where a trader purchases or sells their security at the best market price available. There are two variations on the market order. The Market on Open Order means that the trade must be done during the opening range of trading prices. So the highest price for selling and lowest price for buying.
The Market on Close order is done within minutes of the market closing. This is done at whatever price is available at the time.
Limit Order – Buying at a Lower Price/Selling at a Higher Price
Limit orders involve setting the entry or exit price and then aiming to buy below the limit or sell above it. You can set two conditions on this, one is “Good for A Day” and the other is “Good till Cancelled.” Both of which are self-explanatory. They of course can be changed any time before execution. Reaching these limits/targets is not always possible and sometimes the orders do not go through. Limit orders are very common for online traders.
Stop Orders
Stop orders are used for both opening and closing positions. They are the opposite of Limit Orders. In a limit order the case was that when a price rose to a certain level a sell order was given, in this case a buy signal is given and vice-versa for when the price drops. In the case of a sell stop, it is done so buyers can cut their losses when a share price falls too low. A “Buy stop” is more common and is put into place if the share price is predicted to break through its peak level and head to a new high.
There are down sides and risks associated with both types of stop orders though and should be made with careful scrutiny. Traders should be sure their technical analysis are correct in predicting breakthroughs in share prices in the risk of buying high and selling low.
Traders can also use “guaranteed stops” to protect their position. This is a stop guaranteed by the broker and is ideal if the share takes a sharp sudden turn.
The variations in the three orders require traders to be well aware of their options when trading. Studying the stock and predicting the trend accurately is very important. Stop buys are ideal for securities you expect to break through upwards. Stop sells are for shaky markets that may turn any time. Limit orders are for conservative stocks that are fluctuating.
Foreign Exchange Markets
The basics of foreign exchange markets states that you need to always be working for profits. This is what the whole system is based on. Every single trader out there is looking for profits and that is what drives the system. I went for the longest time without making a penny in profit, but I kept working hard to learn and grow. That day did come and I was very happy. You have to do the same thing and my advice should help you.
Demos
The demo account you get with your broker is an excellent tool for learning the proper behavior for trading. The problem is that people think it's a tool to test out their next get rich quick strategy and get upset when it doesn't work. That's not what a demo is for. It's to help you work on those routines and things you do to find profitable trades. It teaches you develop instincts about trading that you wouldn't get by reading a book on forex.
Don't trade for the wrong reasons
You have to watch out what you're thinking of when you trade. There is so many thoughts going through your head and a lot of them are emotionally based. A gut feeling may feel like the best move in the world, but if it isn't based of fact, reality and evidence than you're just gambling with your money.
Demos
The demo account you get with your broker is an excellent tool for learning the proper behavior for trading. The problem is that people think it's a tool to test out their next get rich quick strategy and get upset when it doesn't work. That's not what a demo is for. It's to help you work on those routines and things you do to find profitable trades. It teaches you develop instincts about trading that you wouldn't get by reading a book on forex.
Don't trade for the wrong reasons
You have to watch out what you're thinking of when you trade. There is so many thoughts going through your head and a lot of them are emotionally based. A gut feeling may feel like the best move in the world, but if it isn't based of fact, reality and evidence than you're just gambling with your money.
Forex Currency Trading
So you're looking to start trading currency to make some money. Well you're in luck because I've been doing it for a few years and I've had some of the worst luck at it. But with any bad experience, you learn a lot from it, so I'm going to pass that on to you.
Cutting your losses is the single most important thing you can do to sustain profit. A lot of people that aren't good a trading assume they're no good at making profits. We can all make profits, the problem is that our losses end up taking more money away than we make. You have to reverse that trend, but getting out these losses. Salvage as much of the initial investment as you can, than reinvest it in a better trade.
There is also a proper time to trade. I bet you never heard anyone say that before. People will go on and on about how you can trade 24hrs a day. Well, you can actually do that, it's just not the smartest thing. If you take a look at late nights, very little people are trading. When the few people that are actually there start to move money around, it has a more profound effect on the direction, especially when the traders are big. This means you're at the mercy of people with big money. Stick with the busy times and things will be much more stable.
Cutting your losses is the single most important thing you can do to sustain profit. A lot of people that aren't good a trading assume they're no good at making profits. We can all make profits, the problem is that our losses end up taking more money away than we make. You have to reverse that trend, but getting out these losses. Salvage as much of the initial investment as you can, than reinvest it in a better trade.
There is also a proper time to trade. I bet you never heard anyone say that before. People will go on and on about how you can trade 24hrs a day. Well, you can actually do that, it's just not the smartest thing. If you take a look at late nights, very little people are trading. When the few people that are actually there start to move money around, it has a more profound effect on the direction, especially when the traders are big. This means you're at the mercy of people with big money. Stick with the busy times and things will be much more stable.
Sunday, April 4, 2010
Decision Making Process
To reduce risk when you are doing online forex trading, it is always best to do forex review system trading. When you do trading online, you never do it haphazardly. Instead a lot of planning goes into the decisions that you make one what and when to trade forex online. Being a foreign exchange trader means a lot of profits, but it also means a lot of losses for those who do not read the signals correctly. This is why forex review system trading is one of the safest ways by which you can approach your forex trading business wisely and profitably.
With forex review system trading, you minimize your risk of losing money by doing the proper research to support the different online trading decisions that you make with your forex accounts. One way of doing this is to read the trends in the economy and market as it is depicted in the news. By finding out what the situation is in a country, you will be able to learn whether your money is worth investing in their currency to make a hefty profit. With this method you would need a good knowledge about how things like the peace and order situation can affect a country's economy and, in turn, the value of their currency.
Second, you can follow a set forex review system that will allow you to get information that is fit to guide you in your next forex trading move. This forex review system will get you information about the market trends at very specific times and currency values during the day. With this kind of information, you can make prudent and appropriate management decisions that will help you boost your profits and learn more about the nuances of how a currency increases and decrease in value.
Third, another way of doing forex review system trading manually is to do research on other websites of other traders. These other forex traders have the savvy and experience that is needed to make huge profits. It is great to sign up to a forum of online brokers and traders who will always have great advice for you when taking about the foreign exchange market. You can also check the different reviews and blogs maintained by these traders that will give great advice as they document their thoughts daily.
By doing forex review system trading, you can be sure that your approach is prudent, safe, and will get you expected profits because of your steady pace and well-founded decision-making process. Forex review system trading methods are established so that forex traders like you can follow specific guidelines that will guide you in making the right online forex investment decisions to properly come up with actions to garner the best profit possible.
With forex review system trading, you minimize your risk of losing money by doing the proper research to support the different online trading decisions that you make with your forex accounts. One way of doing this is to read the trends in the economy and market as it is depicted in the news. By finding out what the situation is in a country, you will be able to learn whether your money is worth investing in their currency to make a hefty profit. With this method you would need a good knowledge about how things like the peace and order situation can affect a country's economy and, in turn, the value of their currency.
Second, you can follow a set forex review system that will allow you to get information that is fit to guide you in your next forex trading move. This forex review system will get you information about the market trends at very specific times and currency values during the day. With this kind of information, you can make prudent and appropriate management decisions that will help you boost your profits and learn more about the nuances of how a currency increases and decrease in value.
Third, another way of doing forex review system trading manually is to do research on other websites of other traders. These other forex traders have the savvy and experience that is needed to make huge profits. It is great to sign up to a forum of online brokers and traders who will always have great advice for you when taking about the foreign exchange market. You can also check the different reviews and blogs maintained by these traders that will give great advice as they document their thoughts daily.
By doing forex review system trading, you can be sure that your approach is prudent, safe, and will get you expected profits because of your steady pace and well-founded decision-making process. Forex review system trading methods are established so that forex traders like you can follow specific guidelines that will guide you in making the right online forex investment decisions to properly come up with actions to garner the best profit possible.
Investing Easier
Getting into forex trading is usually quite a challenge in the beginning, but with the right forex secret trading advice, you will be able to get the profits that you want in no time. The foreign exchange market is a relatively volatile one so you always have to be ready with what it has to offer before making a trade. This means getting the right information and signals so that you can analyze this information and make better decision. Here are some great pieces of forex secret trading advice from seasoned forex traders that may just help you once you decide to get into foreign exchange market trading:
Learn, Learn, Learn!
To be able to be the best that you can be in forex trading, you really have to get down to it and learn the ropes! It takes a lot of hard work to be able to read up on forex trading and learning the nuances of the business. Learning the ropes simply take discipline to do online research on the topic, reading books about it, joining forex trading forums so that you can ask other forex traders about their businesses, and basically finally doing it and learning the nuances of the trade through hard experience.
Forex Robots
Forex robots may just be the easiest way to get into the forex trade quickly and easily. The problem with this method is that you have a piece of software doing all the trading for you and you hardly even has to think. Remember to learn the market first before even trying out a forex robot. Even if it does everything for you, you will have to learn the mechanisms behind why it makes certain trading decisions with certain trading signals. Availing of forex trading software may require you to always keep yourself educated by making use of the customer service available so that you can have your questions answered when needed.
Be Prudent
Don't go into the forex trading business with too much confidence. In fact, plan your strategy so that you can learn the ropes and invest a relatively conservative amount of money first before diving in deep and making big investments. Remember that you are still a beginner, so it is best to follow this piece of forex secret trading advice so that you don't lose all your money at once and regret your forex trading experience for the rest of your life.
Simplicity Is Best
As you learn more about foreign exchange trading, you may want to keep your strategy simple first as you begin to learn the nuances in forex trade. Keep it simple while you learn the terms and the different information that you receive to boost your trading actions. It is best to take it slow, make conservative investment, and learn the trade as fully as you can with this forex secret trading advice before jumping into it fully.
Learn, Learn, Learn!
To be able to be the best that you can be in forex trading, you really have to get down to it and learn the ropes! It takes a lot of hard work to be able to read up on forex trading and learning the nuances of the business. Learning the ropes simply take discipline to do online research on the topic, reading books about it, joining forex trading forums so that you can ask other forex traders about their businesses, and basically finally doing it and learning the nuances of the trade through hard experience.
Forex Robots
Forex robots may just be the easiest way to get into the forex trade quickly and easily. The problem with this method is that you have a piece of software doing all the trading for you and you hardly even has to think. Remember to learn the market first before even trying out a forex robot. Even if it does everything for you, you will have to learn the mechanisms behind why it makes certain trading decisions with certain trading signals. Availing of forex trading software may require you to always keep yourself educated by making use of the customer service available so that you can have your questions answered when needed.
Be Prudent
Don't go into the forex trading business with too much confidence. In fact, plan your strategy so that you can learn the ropes and invest a relatively conservative amount of money first before diving in deep and making big investments. Remember that you are still a beginner, so it is best to follow this piece of forex secret trading advice so that you don't lose all your money at once and regret your forex trading experience for the rest of your life.
Simplicity Is Best
As you learn more about foreign exchange trading, you may want to keep your strategy simple first as you begin to learn the nuances in forex trade. Keep it simple while you learn the terms and the different information that you receive to boost your trading actions. It is best to take it slow, make conservative investment, and learn the trade as fully as you can with this forex secret trading advice before jumping into it fully.
Money In The Trade
The biggest market open 24 hours a day that is open to the public is the foreign exchange market. Open to so-called day traders, the forex market has a daily turnover of almost 4 trillion dollars. While it is true that it is possible to make a decent living by trading in the foreign exchange market, the sheer amount of technical knowhow that one should possess is the determining factor whether one succeeds or fails in this kind of living.
The entry of forex software system trading makes it possible for the average Joe to trade in forex markets. The software's algorithms incorporate expert knowledge which means that the technical aspects of trading are built into it. The only requirement is to be always on internet connection, preferably a fast one e.g. DSL or broadband. Forex software systems need to initialized once and after this has been done, the computer makes the buy and sell decisions for you.
Forex software systems trading make use of the internet to monitor, in near real time, how the world's foreign exchange market behaves. When there are changes in values between two currency pairs (the dominant one being the dollar and the euro) the software takes note of this and depending on how it was initialized, buys or sells currency on your behalf. Since there are market fluctuations all day, the novice trader, especially those relying on their wits alone, become greatly influenced by emotions. Fear and greed are very powerful and they cloud decision making especially in those times where real cold technical analysis is needed. Forex software systems trading is of course free from debilitating emotions and make their buy and sell decisions solely on what incoming data is telling them.
With forex software systems trading, it becomes possible to make forex trading a second job, a supplemental source of income. There is no need to quit an office job just because forex trading demands close monitoring of trends. The software tirelessly monitor data feeds for trends and make use of the information to trade.
Perhaps you must have heard of talk saying that in these uncertain economic times, the best strategy is a conservative approach in finances. That talk is wrong. With uncertainty comes volatility in the exchange market. The value of one-currency changes and the difference in value can be significant. Changes like this should be taken advantage of. With forex software systems, the task of buying and selling, when the opportune time comes, becomes very simple.
While the profit margins for any trade is small, as long as money is being made during each buy and sell, forex trading becomes a real money making opportunity for everyone. If you want to try it out, you can always download trial editions of the software and see for yourself how easy forex software systems trading really are.
The entry of forex software system trading makes it possible for the average Joe to trade in forex markets. The software's algorithms incorporate expert knowledge which means that the technical aspects of trading are built into it. The only requirement is to be always on internet connection, preferably a fast one e.g. DSL or broadband. Forex software systems need to initialized once and after this has been done, the computer makes the buy and sell decisions for you.
Forex software systems trading make use of the internet to monitor, in near real time, how the world's foreign exchange market behaves. When there are changes in values between two currency pairs (the dominant one being the dollar and the euro) the software takes note of this and depending on how it was initialized, buys or sells currency on your behalf. Since there are market fluctuations all day, the novice trader, especially those relying on their wits alone, become greatly influenced by emotions. Fear and greed are very powerful and they cloud decision making especially in those times where real cold technical analysis is needed. Forex software systems trading is of course free from debilitating emotions and make their buy and sell decisions solely on what incoming data is telling them.
With forex software systems trading, it becomes possible to make forex trading a second job, a supplemental source of income. There is no need to quit an office job just because forex trading demands close monitoring of trends. The software tirelessly monitor data feeds for trends and make use of the information to trade.
Perhaps you must have heard of talk saying that in these uncertain economic times, the best strategy is a conservative approach in finances. That talk is wrong. With uncertainty comes volatility in the exchange market. The value of one-currency changes and the difference in value can be significant. Changes like this should be taken advantage of. With forex software systems, the task of buying and selling, when the opportune time comes, becomes very simple.
While the profit margins for any trade is small, as long as money is being made during each buy and sell, forex trading becomes a real money making opportunity for everyone. If you want to try it out, you can always download trial editions of the software and see for yourself how easy forex software systems trading really are.
Forex Automated Trading
With so many Forex automated trading expert advisors on the market today showing outrageous and profitable trading results, you may be tempted to purchase one of these automated Forex trading systems to see for yourself. It is extremely hard to resist the temptation when you come across Forex automated trading results showing a 500% gain within two weeks. How can you say no to automated Forex trading software that claims 99% wining trades? There are also Forex managed account services claiming 25 consecutive profitable months without a single losing month. Then there are marketing statements claiming financial independence without having to know a thing about the Forex market. Lastly, there is the coup de grace of offering a full money back guarantee.
Let's examine each of these marketing promises to understand them for what they are. In order for an automated Forex system to obtain a 500% gain within two weeks, it must take extreme risks to compound its trading account. Compounding the trading lot size will compound the potential winnings, but it will also compound losses. It is unlikely that this automated Forex trading software will continue to replicate its winning results week after week without any losses. If this Forex automated trading system really works, then the inventor should be richer than Warren Buffett and Bill Gates. The last time I checked, Bill Gates is still the richest man in the world.
It is human nature to want to be right all the time. Unfortunately, this is a bad trait in Forex trading. In order to have 99% wining trades, this automated Forex system is trading with a very large stop loss or no stop loss altogether. By trading without a stop loss, the unrealized losses in the account are open floating losses. This Forex automated trading software will not close the trade until it is profitable; hence, it will continue to hold the losing trade until the account gets margined out. You can have 99 wining trades, but with this technique, one losing trade could wipe out your entire trading account. Trading without stop loss is like playing Russian roulette with your money.
Often, I come across Forex managed account services using automated Forex trading systems without a single losing month. This is too good to be true, as even Warren Buffett cannot make this claim about himself, so you should stay away. Alternatively, you can make the cheques out to Bernard Madoff and get in early on the Ponzi scheme.
There are no shortcuts in life. Any automated Forex trading software or products claiming to provide financial independence without you needing to know a thing is likely to be a Forex software scam. Trading involves both risk and reward. You must read and understand as much as possible before using any automated Forex trading systems.
The best marketing hook ever invented is the full money back guarantee. A guarantee to give you the option of testing the program completely risk free so that you can experience the effectiveness of the automated Forex system first hand. You should be aware that it is extremely difficult to get your money back regardless of what the vendors' guarantee says. Most of these guarantees are not protected or honored by companies like Visa, PayPal or MasterCard. Understand that there is always risk involved and use these five easy steps to detect Forex software scams.
Let's examine each of these marketing promises to understand them for what they are. In order for an automated Forex system to obtain a 500% gain within two weeks, it must take extreme risks to compound its trading account. Compounding the trading lot size will compound the potential winnings, but it will also compound losses. It is unlikely that this automated Forex trading software will continue to replicate its winning results week after week without any losses. If this Forex automated trading system really works, then the inventor should be richer than Warren Buffett and Bill Gates. The last time I checked, Bill Gates is still the richest man in the world.
It is human nature to want to be right all the time. Unfortunately, this is a bad trait in Forex trading. In order to have 99% wining trades, this automated Forex system is trading with a very large stop loss or no stop loss altogether. By trading without a stop loss, the unrealized losses in the account are open floating losses. This Forex automated trading software will not close the trade until it is profitable; hence, it will continue to hold the losing trade until the account gets margined out. You can have 99 wining trades, but with this technique, one losing trade could wipe out your entire trading account. Trading without stop loss is like playing Russian roulette with your money.
Often, I come across Forex managed account services using automated Forex trading systems without a single losing month. This is too good to be true, as even Warren Buffett cannot make this claim about himself, so you should stay away. Alternatively, you can make the cheques out to Bernard Madoff and get in early on the Ponzi scheme.
There are no shortcuts in life. Any automated Forex trading software or products claiming to provide financial independence without you needing to know a thing is likely to be a Forex software scam. Trading involves both risk and reward. You must read and understand as much as possible before using any automated Forex trading systems.
The best marketing hook ever invented is the full money back guarantee. A guarantee to give you the option of testing the program completely risk free so that you can experience the effectiveness of the automated Forex system first hand. You should be aware that it is extremely difficult to get your money back regardless of what the vendors' guarantee says. Most of these guarantees are not protected or honored by companies like Visa, PayPal or MasterCard. Understand that there is always risk involved and use these five easy steps to detect Forex software scams.
Forex Trading
Students and acquaintances often ask me to teach them Forex trading techniques to profit in the Forex market. Is there such a Holy Grail that can provide guaranteed winning trades? I listen as an acquaintance continues to complain that he is losing too much money, that he is never on the right side of the market, that he keeps making the same mistake repeatedly, and why does he keep getting stopped out? After about 30 minutes of his ranting, I interject and tell him that maybe he should start learning about trading psychology. With a disappointed face, he looks at me dumbfounded.
Many Forex traders give up after one year while some traders continue to jump from system to system, looking for the ever-elusive Holy Grail. It seems that after learning a number of different trading techniques, traders tend to plateau, and are unable to improve, regardless of what they do. Somehow, there is always a new trading course offered by a most successful trading guru or an ultimate indicator claiming unparalleled results that is a must-have.
The Forex industry is so polluted with scammers and marketers that it is impossible to sort out who is telling the truth. It is extremely sad to see so many people losing money in this market; however, it is the greed that continues to recruit more neophytes. It is like a gambler looking for an easy way in life to make a lot of money in the shortest amount of time. There are traders claiming that they are not gamblers and have never stepped into a casino in their life. Welcome to the twenty first century, where gambling comes in many forms, and the casino comes to your house via Forex internet trading.
In order to gain an advantage in Forex trading, you have to realize that what you need are not the indicators or ground-breaking Forex trading techniques. The skills that you need to acquire are discipline, emotional control, patience, and the right mental attitude toward losing. It is about how you respond to pain and pleasure, greed and fear. The keys to being successful in Forex trading are all internal. It is not so much about finding the highest probability and lowest risk point of entering in the market. Regardless what you do, there is always a risk and a chance of losing. You must accept the consequences of losing or being stopped out in the market. Lacking emotional control will cause you to experience pain whenever your account goes negative and experience pleasure whenever the account goes positive. You have to realize that psychology contributes to 70 percent of your trading success. If you don't learn the proper trading psychology then you have diminished your chances of success.
Money management technique is twice as important as Forex trading techniques. If you rush to earn a lot of money in a short period of time, you will take larger risks and are more prone to wipe out your trading account. There are no shortcuts in building wealth, regardless of what industry you are in. Whether it be with manual Forex trading or Forex managed accounts, if someone claims to make consistent profit month after month, then it is likely to be a scam because there is no risk involved.
Many Forex traders give up after one year while some traders continue to jump from system to system, looking for the ever-elusive Holy Grail. It seems that after learning a number of different trading techniques, traders tend to plateau, and are unable to improve, regardless of what they do. Somehow, there is always a new trading course offered by a most successful trading guru or an ultimate indicator claiming unparalleled results that is a must-have.
The Forex industry is so polluted with scammers and marketers that it is impossible to sort out who is telling the truth. It is extremely sad to see so many people losing money in this market; however, it is the greed that continues to recruit more neophytes. It is like a gambler looking for an easy way in life to make a lot of money in the shortest amount of time. There are traders claiming that they are not gamblers and have never stepped into a casino in their life. Welcome to the twenty first century, where gambling comes in many forms, and the casino comes to your house via Forex internet trading.
In order to gain an advantage in Forex trading, you have to realize that what you need are not the indicators or ground-breaking Forex trading techniques. The skills that you need to acquire are discipline, emotional control, patience, and the right mental attitude toward losing. It is about how you respond to pain and pleasure, greed and fear. The keys to being successful in Forex trading are all internal. It is not so much about finding the highest probability and lowest risk point of entering in the market. Regardless what you do, there is always a risk and a chance of losing. You must accept the consequences of losing or being stopped out in the market. Lacking emotional control will cause you to experience pain whenever your account goes negative and experience pleasure whenever the account goes positive. You have to realize that psychology contributes to 70 percent of your trading success. If you don't learn the proper trading psychology then you have diminished your chances of success.
Money management technique is twice as important as Forex trading techniques. If you rush to earn a lot of money in a short period of time, you will take larger risks and are more prone to wipe out your trading account. There are no shortcuts in building wealth, regardless of what industry you are in. Whether it be with manual Forex trading or Forex managed accounts, if someone claims to make consistent profit month after month, then it is likely to be a scam because there is no risk involved.
Sins in Forex Trading
It does not matter if you are a new trader or a veteran trader, most of us will commit one of the six deadly sins in Forex Trading. As a veteran trader, you will likely to commit only one or two, but for less informed traders, they are likely to commit more, if not all, of the sins listed below.
1. Reliance on the Experts. In 2007 to 2008, the housing market crumbled, the stock market tumbled, and many investors lost money. Many of Wall Street's top analysts had vouched for the toxic mortgage-related securities, and many investment banks went bankrupt because of this reliance on the Experts. The same principle can be applied to Forex trading. Forex reviews and forum postings can easily be manipulated; hence, you should be skeptical when coming across the latest "can't miss" software or trading courses that promise to double your trading profits in two weeks.
2. Setting the wrong goal and trading target. Everyone seems to focus on setting goals and achieving ten pips a day. This is a marketing ploy to sell more Forex trading courses, software, or the latest Forex techniques on DVDs. No one can consistently achieve ten pips a day. You can't take when the market is not providing you with trading opportunities. If you set an unattainable goal, you are setting yourself up for failure. Be realistic with yourself and set up monthly goals instead of daily or weekly trading goals.
3. Not paying proper attention to drawdown. It does not matter if you are trading manually or with automated trading software, all traders and trading software will go through a period of drawdown or a losing streak. You must always take this possibility into account and not compound your trading lot. You may compounding your winnings, but this technique will also amplify your losses when a losing streak hits. Always have an exit strategy or enough cash to cushion any drawdown that may occur.
4. Forgetting to practice, practice, and practice. In order to master a new trading skill, you will need several months, or even years to refine your skills. Don't fool yourself and think that you have mastered the market after three months of demo trading. Many have gone down the same road and failed. You will not be the exception, so don't bet your entire savings on it.
5. Falling in love with a trade. Don't hold on to a losing trade that is going to wipe out your account, even the great Warren Buffett is wrong at times; hence, be willing to cut your losses and move on.
6. Not checking your emotion. There is no such thing as a guaranteed winning trade. You must learn to treat each trade, whether it be a losing trade, break-even, or winning trade, equivalent emotionally. It is possible to have 10 or more consecutive losing trades; hence, don't give up, just learn to move on. It is business as usual, and you should not let your previous losing trades affect your decision making process. One of the primary reasons why automated trading software works so well is because it is not emotionally affected by either winning or losing trades.
1. Reliance on the Experts. In 2007 to 2008, the housing market crumbled, the stock market tumbled, and many investors lost money. Many of Wall Street's top analysts had vouched for the toxic mortgage-related securities, and many investment banks went bankrupt because of this reliance on the Experts. The same principle can be applied to Forex trading. Forex reviews and forum postings can easily be manipulated; hence, you should be skeptical when coming across the latest "can't miss" software or trading courses that promise to double your trading profits in two weeks.
2. Setting the wrong goal and trading target. Everyone seems to focus on setting goals and achieving ten pips a day. This is a marketing ploy to sell more Forex trading courses, software, or the latest Forex techniques on DVDs. No one can consistently achieve ten pips a day. You can't take when the market is not providing you with trading opportunities. If you set an unattainable goal, you are setting yourself up for failure. Be realistic with yourself and set up monthly goals instead of daily or weekly trading goals.
3. Not paying proper attention to drawdown. It does not matter if you are trading manually or with automated trading software, all traders and trading software will go through a period of drawdown or a losing streak. You must always take this possibility into account and not compound your trading lot. You may compounding your winnings, but this technique will also amplify your losses when a losing streak hits. Always have an exit strategy or enough cash to cushion any drawdown that may occur.
4. Forgetting to practice, practice, and practice. In order to master a new trading skill, you will need several months, or even years to refine your skills. Don't fool yourself and think that you have mastered the market after three months of demo trading. Many have gone down the same road and failed. You will not be the exception, so don't bet your entire savings on it.
5. Falling in love with a trade. Don't hold on to a losing trade that is going to wipe out your account, even the great Warren Buffett is wrong at times; hence, be willing to cut your losses and move on.
6. Not checking your emotion. There is no such thing as a guaranteed winning trade. You must learn to treat each trade, whether it be a losing trade, break-even, or winning trade, equivalent emotionally. It is possible to have 10 or more consecutive losing trades; hence, don't give up, just learn to move on. It is business as usual, and you should not let your previous losing trades affect your decision making process. One of the primary reasons why automated trading software works so well is because it is not emotionally affected by either winning or losing trades.
Forex Market
There are many reasons why investors are unaware of or uncomfortable with short selling. One major reason is because it is counter intuitive. It makes more sense and is more intuitive for people to buy something, hold on to it, and then sell it at a higher price. You buy a stock at $2, hold onto it for 6 months, and then sell it for $3. Let's take an example, you buy a house, you live in it, and then you sell it to buy another house. You can buy a house for investment, and you can rent it out to help pay for the mortgage. You don't live there, but you still own the house. In all of these examples, you buy something, you own it, and then you sell it.
In short selling, you are selling something that you don't own. It is counter intuitive because you can't go around your neighborhood and sell a house that you don't own. Hence, short selling does not make a lot of sense to people. Don't worry, the next example will ease you slowly into the concept.
It is midnight, you are out of milk, and your kid is crying. You run over to your neighbor's and ask to borrow a jug of milk. It happens that your neighbor just bought a jug of milk for $5, but he refuses to take your money. Instead, he tells you to buy him another jug of milk later, and you will be even. The next day, you go to the supermarket and the jug of milk is on sale for $3. You buy the jug of milk and return it to your neighbor and save yourself $2 in the process. Basically, you consumed the milk (an asset that isn't own by you), and then you delivered an identical milk back to your neighbor at a later time. This is the concept of short selling. A short sale is the sale of a security that isn't owned by the seller, but that is promised to be delivered.
Say you don't think that Nortel Networks' share price should be at $120 per share because the company is not profitable. You can borrow 10 shares from your stockbroker, and sell them for a gain of $1,200. When the stock price drops to $70, you buy back the 10 Nortel shares at $700, and return them to your broker. You borrowed 10 shares from your broker, and then you returned 10 shares, pocketing $500 in the process. If the price of the stock rises, though, you have to buy it back at a higher price, and you lose money.
In Forex trading, you can make money in both up and down markets if you are able to anticipate the up and down trends in the market. If you believe that the currency pair is going up, you buy at the low price and then sell at the high price. Alternatively, if you believe that the currency pair is going down, you sell at the high price and then buy at the low price to recover. In real time Forex trading, the rates of the currencies can change at any time. For instance, the quotes accessible for a specific currency pair can move upwards or fall down within a blink of an eye. This forces the investors to be extremely flexible and to go with the trend. Whereas, in the stock market a bull run can last as long as several years; hence, it is difficult to switch your thinking from a bull to a bear market.
Even though you have tools of short selling and long buying to in the foreign currency market, Forex trading is extremely difficult to master and more than 95% of traders lose their money. Understand that any method or software that boasts a 300% return on investment will also contain a minus 300% drawdown. Ask the right questions before purchasing or renting any currency trading software.
In short selling, you are selling something that you don't own. It is counter intuitive because you can't go around your neighborhood and sell a house that you don't own. Hence, short selling does not make a lot of sense to people. Don't worry, the next example will ease you slowly into the concept.
It is midnight, you are out of milk, and your kid is crying. You run over to your neighbor's and ask to borrow a jug of milk. It happens that your neighbor just bought a jug of milk for $5, but he refuses to take your money. Instead, he tells you to buy him another jug of milk later, and you will be even. The next day, you go to the supermarket and the jug of milk is on sale for $3. You buy the jug of milk and return it to your neighbor and save yourself $2 in the process. Basically, you consumed the milk (an asset that isn't own by you), and then you delivered an identical milk back to your neighbor at a later time. This is the concept of short selling. A short sale is the sale of a security that isn't owned by the seller, but that is promised to be delivered.
Say you don't think that Nortel Networks' share price should be at $120 per share because the company is not profitable. You can borrow 10 shares from your stockbroker, and sell them for a gain of $1,200. When the stock price drops to $70, you buy back the 10 Nortel shares at $700, and return them to your broker. You borrowed 10 shares from your broker, and then you returned 10 shares, pocketing $500 in the process. If the price of the stock rises, though, you have to buy it back at a higher price, and you lose money.
In Forex trading, you can make money in both up and down markets if you are able to anticipate the up and down trends in the market. If you believe that the currency pair is going up, you buy at the low price and then sell at the high price. Alternatively, if you believe that the currency pair is going down, you sell at the high price and then buy at the low price to recover. In real time Forex trading, the rates of the currencies can change at any time. For instance, the quotes accessible for a specific currency pair can move upwards or fall down within a blink of an eye. This forces the investors to be extremely flexible and to go with the trend. Whereas, in the stock market a bull run can last as long as several years; hence, it is difficult to switch your thinking from a bull to a bear market.
Even though you have tools of short selling and long buying to in the foreign currency market, Forex trading is extremely difficult to master and more than 95% of traders lose their money. Understand that any method or software that boasts a 300% return on investment will also contain a minus 300% drawdown. Ask the right questions before purchasing or renting any currency trading software.
Trading Systems
Michael Jordan was one of the best basketball players in the world. So what do Michael Jordan and automated Forex trading have in common? It is known in sports terminology as a cold streak or slump. Michael Jordan has missed more than 9000 shots in his career. He and his team have lost almost 300 games, and he failed to make the final game winning shot more than 25 times in his career. Does this make him a poor basketball player because he has failed over and over again during his career?
An athlete will go through a losing streak, and every trader will go through a similar losing streak, a period of consecutive losses with no profitable trades. In trading, this term is defined as drawdown, and it can be defined as a percentage or a number. Regardless of whether you are trading manually or using any automated Forex trading systems, you will experience a period of consecutive losses. It does not matter if you are Michael Jordan of the basketball world or the Warren Buffett of the investment world, everyone will face losses during their career or investment period. Losses are inevitable, and as investors/traders, we cannot avoid them. Trading involves both risk and reward; hence, it is impossible to obtain any type of reward without involving some risk.
An automated Forex trading system cannot avoid a losing streak; however, it is with proper money management that it can minimize the losses during the cold streak. For example, if an automated Forex trading system has a maximum drawdown of $3,000 using a 0.1 standard trading lot, it is not advisable to start trading with this system using $5,000 as starting capital. If you are unlucky and a drawdown immediately starts right after you have turned on your automated Forex trading system, you will see your trading account going from $5,000, to $4,000, to $3,000, to $2,500 and then to $2,000. In this example, you just experienced a losing streak of $3,000, or a 60% drawdown.
Before using any particular trading systems, you want to know what is the largest loss you can face when an automated Forex trading system starts incurring losses due to changes in the volatile Forex market. You must understand that this is a temporary worsening condition of a trading system. This period is the trading risk, and it will pass. With this risky period, a good trading system will recover and provide you with ample rewards (a.k.a. profits). Depending on your level of risk tolerance, a 60% drawdown is quite extreme in one's trading account. If you know that the drawdown is $3,000, you may want to start trading with $10,000 instead of $5,000. During a losing streak of $3,000, you will only experience a drawdown of 30%, which is a lot more tolerable.
Be a good investor scout and always prepare for the largest losing streak during your investment period. A drawdown period can be as long as three months; hence, don't jump from one system to another system looking for the Holy Grail. If you have found a profitable trading system, stick with it during its three months drawdown period and you will be handsomely rewarded for your patience. Alternatively, follow a profitable automated Forex trading system and wait until it starts losing and then jump in. Just like Michael Jordan of basketball, after missing three baskets, he will likely score on the fourth basket, so don't give up on him too early.
An athlete will go through a losing streak, and every trader will go through a similar losing streak, a period of consecutive losses with no profitable trades. In trading, this term is defined as drawdown, and it can be defined as a percentage or a number. Regardless of whether you are trading manually or using any automated Forex trading systems, you will experience a period of consecutive losses. It does not matter if you are Michael Jordan of the basketball world or the Warren Buffett of the investment world, everyone will face losses during their career or investment period. Losses are inevitable, and as investors/traders, we cannot avoid them. Trading involves both risk and reward; hence, it is impossible to obtain any type of reward without involving some risk.
An automated Forex trading system cannot avoid a losing streak; however, it is with proper money management that it can minimize the losses during the cold streak. For example, if an automated Forex trading system has a maximum drawdown of $3,000 using a 0.1 standard trading lot, it is not advisable to start trading with this system using $5,000 as starting capital. If you are unlucky and a drawdown immediately starts right after you have turned on your automated Forex trading system, you will see your trading account going from $5,000, to $4,000, to $3,000, to $2,500 and then to $2,000. In this example, you just experienced a losing streak of $3,000, or a 60% drawdown.
Before using any particular trading systems, you want to know what is the largest loss you can face when an automated Forex trading system starts incurring losses due to changes in the volatile Forex market. You must understand that this is a temporary worsening condition of a trading system. This period is the trading risk, and it will pass. With this risky period, a good trading system will recover and provide you with ample rewards (a.k.a. profits). Depending on your level of risk tolerance, a 60% drawdown is quite extreme in one's trading account. If you know that the drawdown is $3,000, you may want to start trading with $10,000 instead of $5,000. During a losing streak of $3,000, you will only experience a drawdown of 30%, which is a lot more tolerable.
Be a good investor scout and always prepare for the largest losing streak during your investment period. A drawdown period can be as long as three months; hence, don't jump from one system to another system looking for the Holy Grail. If you have found a profitable trading system, stick with it during its three months drawdown period and you will be handsomely rewarded for your patience. Alternatively, follow a profitable automated Forex trading system and wait until it starts losing and then jump in. Just like Michael Jordan of basketball, after missing three baskets, he will likely score on the fourth basket, so don't give up on him too early.
Effective Criteria
If you are trading forex, you will definitely be interested in a solution to help you do all the manual work of trading so that the trading activities can be carried out when you sleep, work or any other activities you are doing. Of course there are different forex auto trade software available that can assist you greatly in the forex trading.
In this modern world, forex traders are finding that these forex trading software which uses trading platforms of industry standard are becoming very useful in the forex trade. With these software, all traders, whether beginners or experienced, are able to maximize their revenues and profit. However, due to the abundance of such software available in the market, consumers are getting confused and wonder which one can provide the best results. To help you out, here are the criteria that you need to look at before choosing one.
Firstly, the forex auto trade software must have a demo account for consumers so that they can get hands on with the software in order to get familiar on how the market works. This will allow them to practice forex trading without actual money involved. With the experience gained and when anyone is ready for the real trade, they can gradually enter the market with the real money. This will ensure gaining maximum profit and losing minimum if things turn bad.
Secondly, features must be available with the software for one to make any necessary parameters adjustments. This will ensure that the forex software will work according to one's trading style for optimal performance and profits.
Thirdly, the forex auto trade software must have a mathematical modeling tool to ensure having a better market analysis. Whether the decision made to invest will be successful will depend on how good the software can analyze and make the decision based on mathematical figures, trends and market history. Therefore, it should not rely on emotions and hunches to make profit.
Fourthly, ensure that the software posses an integrated money management system for better sound decision making in the investment. This will help to ensure maximum profitability or minimum loss in the event of unfavorable market.
Last of all, ensure the forex auto trade software is compatible with Meta Trader 4. This is widely known and used as the trading platform for trading like futures, forex and CFD markets.
In this modern world, forex traders are finding that these forex trading software which uses trading platforms of industry standard are becoming very useful in the forex trade. With these software, all traders, whether beginners or experienced, are able to maximize their revenues and profit. However, due to the abundance of such software available in the market, consumers are getting confused and wonder which one can provide the best results. To help you out, here are the criteria that you need to look at before choosing one.
Firstly, the forex auto trade software must have a demo account for consumers so that they can get hands on with the software in order to get familiar on how the market works. This will allow them to practice forex trading without actual money involved. With the experience gained and when anyone is ready for the real trade, they can gradually enter the market with the real money. This will ensure gaining maximum profit and losing minimum if things turn bad.
Secondly, features must be available with the software for one to make any necessary parameters adjustments. This will ensure that the forex software will work according to one's trading style for optimal performance and profits.
Thirdly, the forex auto trade software must have a mathematical modeling tool to ensure having a better market analysis. Whether the decision made to invest will be successful will depend on how good the software can analyze and make the decision based on mathematical figures, trends and market history. Therefore, it should not rely on emotions and hunches to make profit.
Fourthly, ensure that the software posses an integrated money management system for better sound decision making in the investment. This will help to ensure maximum profitability or minimum loss in the event of unfavorable market.
Last of all, ensure the forex auto trade software is compatible with Meta Trader 4. This is widely known and used as the trading platform for trading like futures, forex and CFD markets.
Earn inflation
Savers have been getting a raw deal in recent months, and rising inflation has dealt yet another blow - making it harder than ever to get a good return on your hard-earned cash.
Inflation, as measured by the Consumer Price Index (CPI), leapt up from 1.9 per cent in November to 2.9 per cent in December - the biggest monthly increase since records began.
And as inflation reduces the future buying power of your cash, high inflation rates create serious problems for savers.
In fact, a basic rate taxpayer will now need to earn 3.6 per cent or more before tax to maintain the "real" value of theirsavings pot; the figure is even greater for higher-rate taxpayers, who now have to earn a rate of at least 4.8 per cent.
Rising inflation
Spiralling inflation, coupled with low savings rates, means many accounts are now effectively worthless when tax on the interest they pay is deducted.
And, with interest rates held at 0.5 per cent yet again this month, the outlook shows little sign of improving.
If you stash your money away in an account paying a low rate of interest, your actual rate of return after inflation will be negative, so it's important to fight back to maximise the returns on your money - though be prepared - this is no easy feat in a rising inflationary environment.
Review your rate on your easy access account
First off, you need to check the rate you're earning on any easy access accounts you hold.
Currently, one of the top rates you can get on an easy access account is 3.15 per cent from the Coventry building society; a higher rate of 3.31 per cent is on offer from the Cheshire building society, but this is a 30-day notice account and also includes a 1 per cent bonus for 12 months. *
Nonetheless, given that so few instant-access accounts are paying anywhere near the rate required to get a real return, you may need to move the bulk of your money elsewhere.
Get into a fix
At present, some of the highest rates are on offer to those who are prepared to lock their money away for at least a year in a fixed-rate savings bond.
FirstSave, for example, is paying 3.65 per cent on its one-year bond, while ICICI Bank is paying 4.25 per cent on its two-year bond; elsewhere, the State Bank of India is paying a huge 5.25 per cent on its five-year bond.*
However, you need to think carefully before committing to a fixed-rate account longer than one or two years, as if interest rates go up quickly, these offers could soon become uncompetitive.
Consider an Isa
When it comes to saving, an individual saving account (ISA) should be your first port of call, as you can earn interest on your nest-egg tax-free.
However, only a handful of cash ISAs currently pay enough to beat inflation.
If you're looking for an easy-access ISA paying above 2.9 per cent - the rate needed for a return - you could squirrel your money away with Manchester building society paying 3.01 per cent or Newcastle building society paying 3 per cent. *
It's also worth bearing in mind that fixed-cash ISAs offer a hedge against inflation; Leeds building society, for example, is paying 4.6 per cent on its five-year fix. *
Check out a regular saver
While regular savings accounts - where you agree to pay in a set amount each month - offer some of the higher rates in the savings market, there are still only a few accounts on offer which beat inflation.
Stroud & Swindon building society, for example, is paying 4.5 per cent on its variable rate regular saver, while Buckinghamshire building society is paying 4.12 per cent.*
However, you must check the terms and conditions, as these accounts often come with restrictions; rates tend to be fixed only for one year during which you cannot access your funds without penalty, and you may be penalised if you fail to invest on a regular basis.
Keep a close eye
Savers may be able to take heart from forecasts that inflation will start to fall back later this year, but in the meantime, you cannot afford to sit back and relax.
Keep a close eye on what you're being offered and be proactive about shopping around to find a good deal to ensure you're getting good returns going forward; and never drop your guard, as high inflation is sure to return at some point.
Inflation, as measured by the Consumer Price Index (CPI), leapt up from 1.9 per cent in November to 2.9 per cent in December - the biggest monthly increase since records began.
And as inflation reduces the future buying power of your cash, high inflation rates create serious problems for savers.
In fact, a basic rate taxpayer will now need to earn 3.6 per cent or more before tax to maintain the "real" value of theirsavings pot; the figure is even greater for higher-rate taxpayers, who now have to earn a rate of at least 4.8 per cent.
Rising inflation
Spiralling inflation, coupled with low savings rates, means many accounts are now effectively worthless when tax on the interest they pay is deducted.
And, with interest rates held at 0.5 per cent yet again this month, the outlook shows little sign of improving.
If you stash your money away in an account paying a low rate of interest, your actual rate of return after inflation will be negative, so it's important to fight back to maximise the returns on your money - though be prepared - this is no easy feat in a rising inflationary environment.
Review your rate on your easy access account
First off, you need to check the rate you're earning on any easy access accounts you hold.
Currently, one of the top rates you can get on an easy access account is 3.15 per cent from the Coventry building society; a higher rate of 3.31 per cent is on offer from the Cheshire building society, but this is a 30-day notice account and also includes a 1 per cent bonus for 12 months. *
Nonetheless, given that so few instant-access accounts are paying anywhere near the rate required to get a real return, you may need to move the bulk of your money elsewhere.
Get into a fix
At present, some of the highest rates are on offer to those who are prepared to lock their money away for at least a year in a fixed-rate savings bond.
FirstSave, for example, is paying 3.65 per cent on its one-year bond, while ICICI Bank is paying 4.25 per cent on its two-year bond; elsewhere, the State Bank of India is paying a huge 5.25 per cent on its five-year bond.*
However, you need to think carefully before committing to a fixed-rate account longer than one or two years, as if interest rates go up quickly, these offers could soon become uncompetitive.
Consider an Isa
When it comes to saving, an individual saving account (ISA) should be your first port of call, as you can earn interest on your nest-egg tax-free.
However, only a handful of cash ISAs currently pay enough to beat inflation.
If you're looking for an easy-access ISA paying above 2.9 per cent - the rate needed for a return - you could squirrel your money away with Manchester building society paying 3.01 per cent or Newcastle building society paying 3 per cent. *
It's also worth bearing in mind that fixed-cash ISAs offer a hedge against inflation; Leeds building society, for example, is paying 4.6 per cent on its five-year fix. *
Check out a regular saver
While regular savings accounts - where you agree to pay in a set amount each month - offer some of the higher rates in the savings market, there are still only a few accounts on offer which beat inflation.
Stroud & Swindon building society, for example, is paying 4.5 per cent on its variable rate regular saver, while Buckinghamshire building society is paying 4.12 per cent.*
However, you must check the terms and conditions, as these accounts often come with restrictions; rates tend to be fixed only for one year during which you cannot access your funds without penalty, and you may be penalised if you fail to invest on a regular basis.
Keep a close eye
Savers may be able to take heart from forecasts that inflation will start to fall back later this year, but in the meantime, you cannot afford to sit back and relax.
Keep a close eye on what you're being offered and be proactive about shopping around to find a good deal to ensure you're getting good returns going forward; and never drop your guard, as high inflation is sure to return at some point.
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