Trading Advise
It’s strongly advised to use stop losses and limit orders. It’s amazing how much can a trader achieve if they use the trading system correctly and forget about their emotions.
The basic professional trading approaches are as follows:
• No emotions. Never let your negative feelings or joy prevent you from getting rich.
• Do your risk management. Decide what will the applicable risk scale be and stick to it.
• Do the statistics research. Analyze your trading results in order to understand whether your current trading system is competitive or not. Discover the opportunities of using another systems.
• Design your own systems. Use the technical analysis indicators in order to work out and create your own systems.
• Be disciplined. Strictly follow the rules and the strategies you select.
If you want to choose the “right” trading company, use the one that offers you the largest quantity of tools and provides access to all the tools online. It’s important if your access to all of these tools is possible while using the only one capital pool. It allows you not to open separate accounts for working with a large variety of instruments (account for forex trading only, or for futures or stocks trading only). Why is it so important? Because the currency market is risky, and, at the same time, very promising. In order to succeed, you may need to diversify your trading, to do investments hedging, to use traditional stock tools and complementary ones or the derivatives.
Ultimate investment: immobile property vs. forex
Foreign immobile property
If you have some money to invest, consider foreign immobile property in the developing regions. For example, a flat in a resort area of Turkey that cost ca 20 000 USD 5 years before, can be now sold not cheaper than for 40 000 USD. The immobile property in the Red and Mediterranean seas area cost relatively cheap. Their cost is quite stable and it is gradually increasing. The risks are therefore minimal. Even now, when due to the global recession, immobile property prices fall almost all over the world, the prices for Turkish immobile property is stable.
The Red Sea area is popular with immobile property investors because of active construction of brand new modern buildings, acceptable prices and low immobile property registration fee.
Somewhat more expensive but yet acceptable due to the prices fall are immobile property objects in the US and Canada.
Forex
Forex can be perceived as a part time job for keeping the body and sole together during the economic times, as a main earning source for the coming years, or as a lifetime career. Depending on how much time, effort and investment you devote to trading, it may bring you some couples of hundreds additionally to your paycheck or exceed it. Forex is absolutely affordable to start for anyone, the earnings percent is much more attractive than the deposits interest rate.
Be ready to start if you:
* Are not afraid to lose more than you invest,
* Have not less than 2000 USD on your account,
* Don’t lack discipline and analytical thinking,
* Don’t hope that luck will do the job for you.
Top 5 global business fields
We have numerous times spoken about basic rules of successful forex trading approaches. And we can not underestimate the importance of finding unique niche for trading. It’s essential that as a human being you can not have unlimited resources to be an expert and to be successful in all markets. Yet, you may find your currency pair, your markets/locations, fields of business. Even if you trade with no reference to any specific market field, you may be concerned about market happenings that are influencing your trade. A bank collapsing somewhere in Europe may effect your trade. A mining enterprise accident somewhere in the far corner of Russia may change quotes of other businesses.
The most lucrative are the businesses with largest turnovers, largest companies, most actively developing players.
You may find interesting a brand new financial times rating revealing the fields of business that are the most promising at the moment.
So, the largest business sectors in the world are:
* aerospace and defense industries,
* alternative energy resources,
* machine building and spare parts.
Banking institutions are following the top 3. Beverages are the fourth. And chemical industry is the least of the 5 largest business sectors
