Author: Hendrik Behrens
As an entrepreneur this is your personal expedition towards discovering how to alter your business and personal aspirations into attainments. Think of it as though you have travelled to a remote island in search of this pathway known as "GIBÉBÉ".
After many months of searching, you have at last met someone who knows and understands the pathway that you are looking for. You have searched for many years for this knowledge and you are now ready to complete your journey and harvest the rewards. Joyce Mbaya will share with you – in her book called GIBÉBÉ – this knowledge and this pathway and walk with you as your personal mentor.
The pathway of GIBÉBÉ is made up of three supports that ultimately lead you as the entrepreneur to personal success. These supports are major stepping stones and create a procedure that can lead you to transform your personal dreams into successful achievements. When combined, their names also build upon each other to form the actual word: GIBÉBÉ
The Support of the Sun: imaGIne… your success path
The support of the Stars: BElieve… in the impossible
The support of Fire: BEcome… who you are meant to be
You can now see that the pathway of GIBÉBÉ has been derived from these three supports that it symbolizes; imaGIne, BElieve, BEcome. In Swahili, they have a word that maps the true meaning of this pathway… the word " JIBÉBÉ ", which literally means:
"to uplift yourself"
or in this case we can think of it as
"to improve or transform yourself".
Your journey to success using the path of GIBÉBÉ will be unveiled by discovering these three supports and the knowledge within them. As you complete each support, you will realize how it becomes a key stepping stone on your journey as a successful entrepreneur. You will also be shown how to apply the knowledge within each to realize your desired breakthrough in your industry and personal life.
The pathway of GIBÉBÉ is a demanding one and you must train yourself accordingly for there will be many insights and ambiguities that will be revealed – some of which may be difficult to comprehend at first glance.
In order to begin this personal journey as a self discovering entrepreneur you must start by first opening up your mind. If you succeed in this, then the pathway itself will be enlightened and will become clear.
During the expedition, you will discover important steps to your personal and professional success. You must expose these steps and successfully steer the lessons that shall be revealed to you. As your personal guide and mentor, Joyce will reveal her own experiences as an entrepreneur that helped her to complete her personal journey and in turn this will help you to unlock your own pathway.
As you discover the facts, also know that purpose and success can only be perfected through consistent exercise. As you learn the pathway of GIBÉBÉ, you also must place yourself in situations that will reveal to you more intensely how this knowledge can shape your future as a entrepreneur. There is a reason why children are more likely to attain self discovery than adults. It is because they are first of all open-minded and have not formed preconceived opinions and beliefs that would form a blockade that prevent personal change and transformation.
Recent scientific research has now proven that when we are conceived, we have the same potential in each and every one of us. You know deep down that you have the potential as an entrepreneur to be as great as the most important and wealthy entrepreneurs and achievers of our generation. So why are not all entrepreneurs successful? The answers are right there in front of you!
From the moment we are born, we start to be impacted by different information around us and by the environment and culture we are brought up. We go through different personal experiences and receive teachings from our surrounding society. Then we automatically start to form similar opinions and thoughts that begin to influence who we eventually end up to be.
This is why it's so important that you as the striving entrepreneur open up your imagination and your mind. This will help you when reading Joyce's book it will not be just an action but becomes a personal experience that will truly start to show you how you can reveal your greatest potential as an extraordinary entrepreneur.
Yet even with Joyce as your mentor, she cannot do this without your personal participation. She could be telling you about the guaranteed formula for winning the lottery or an extraordinary system that would immediately make you millions in your business but none of these things would work if your mind garden is not arable, watered and ready for the kernels to grow. Think about what she will be sharing and how you can implement it immediately and make it practical in your daily life and business.
And this is the gem of all: the ability not only to listen, but more importantly, to apply as much of the knowledge we gain as we possibly can.
Realize that there is a reason why this knowledge is now being accessible... On our great journey of life, we are often given opportunities to think about our specific purpose as an entrepreneur as well as our personal success. This is another one of those (life-changing) opportunities, knocking on your front door.
In the past few years, Joyce have seen herself move faster on her own success journey as an entrepreneur and she have seen her aspirations becoming one achievement after another.
These accomplishments and many others are what have led her to believe that anything is possible and also to see that the strategies she is about to share with you can really work in helping you achieve your personal dreams.
Download Joyce's free eBook and you will see by applying these strategies in your own life, you can begin to set yourself apart and see yourself going from an ordinary entrepreneur to an extraordinary entrepreneur.
PS: By registering a free account with the Global Network you will have instant free access to learn firsthand how to generate daily 20-30 new leads for your business. And you will have access to our Leader's Library filled with more free training material in the form of eBooks and Audio Books, presentations and interviews from experts, entrepreneurs and other mentors of our generation, willing to excel you to success. If you need any more assistance feel free to contact me directly.
Article Source: http://www.articlesbase.com/entrepreneurship-articles/discover-three-supports-which-will-make-you-an-extraordinary-entrepreneur-5656045.html
About the Author
I am a young successful driven entrepreneur who have a passion to help and assist people. I like to meet like-minded individuals and hopefully network with them effectively.
In the last few years I really struggled to get an effective market strategy to market my company, till a was recommended to a very successful marketing company.
By following their effective step-by-step guide it did not just started to generate new consistent leads daily, it also placed me in a position where I am able to assist and coach others to implement this marketing campaign for their companies too.
Connect or contact me to get to know me better or learn how to get real results from your advertising.
I specialize in
Online & Offline Marketing,
Social Networking,
Content Marketing,
Attraction Marketing,
Pay-Per-Click Advertising,
Permission Marketing and
Mobile Marketing*
Thursday, February 16, 2012
Earn Extra Income At Home - The Weird And Funny Facts
Author: Azroy
To earn an extra income at home sounds like quite an attractive idea for most of us. It gives you the opportunity to earn an income without having to commute every morning to an office. Imagine waking up at 10 in the morning, making coffee in the kitchen and then making a 30 second commute to your home office. Sounds awesome doesn't it?
If it so great to earn an income from home, then why do most of us fail to earn any good income at home? If you are wondering why, here are 4 facts that probably never occured to you when you are trying to achieve success in earning an income from home.
1. Not believing in yourself.
Running an online business at home takes a lot of determination and perseverance. Apart from having the right mentor and following the right system, you must believe that you will suceed. Your chances of success is very slim if you in the first place do not believe in yourself.
2. Stay focused
There are many ways that you can do to earn a stable income from home. To be truthful, there are just too many opportunities out there that promises you the world. Jumping from one opportunity to another will not get you anywhere. You need to be extremely focused and only work on one single opportunity. Stick to it irregardless of whatever new opportunities that presents itself upon you.
3. You don't have to get it right, just get going.
Do not be afraid to make mistakes. No matter how much you read or learn on how to earn income from home, you will not learn anything until you have actually gone out there to execute what you learned. Accept things to go imperfectly and fix your problems as you go along. You do not have to get things right the first time you just have to get going and start executing.
4. Follow a schedule
Do not work on your online business only on your free time. If you treat it like a hobby, it will generate you a hobby income which is usually close to nothing. If you already decide to work at home and run your own online business, take it seriously. Treat it like as if you are running a real offline business. When you treat it like a real business, your mentality will change and you will take serious actions that you would never have taken if you only treat it like a hobby.
If you are still searching for a way to earn extra income at home, head over here for free complete guide book to generating an income from home.
Article Source: http://www.articlesbase.com/home-business-articles/earn-extra-income-at-home-the-weird-and-funny-facts-5659846.htm
l
About the Author
Azroy Min is an expert in using simple systems to run online business from home. Head over to boldwagon.com for a free complete guide book on to generating an income from home.
Wednesday, February 15, 2012
Home based business ideas
From time to time I will share different home based business ideas. In this article you'll find a few business ideas based on common services and products. Base your business on your skill, knowledge and interests. By far I think interest is the best drive to use when you choose your business plan. Don't care to much about what is hot or not.
Services
Computer services: Programmers, systems engineers, networking experts, repair and upgrade specialists, and web designers are a few examples.
Virtual assistent:
As a Virtual Assistent (VA) you could work with telephone support, uppdating home pages or writing articles.
Book keeping: Every company needs a bookeeper.
Consulting: Use your experience in a certain field to be a consultant. You can consult using a homepage, the phone or visit your customers.
Products
New products: Contact a supplier in products you'd like to sell. Sell through your own web store and/or Ebay.
Used products: You could aslo resell used products through your own web store or through Ebay. Buy cheap at flee markets and web auctions and make 50- 100 % profit.
Crafts and art: Do you have a passion in arts or crafts? Make it a full time job using Ebay or your own web store. A few examples of things you can sell: art, basket weaving, beading, candle making, ceramics/polymer clay, crocheting, cross stitch, doll making, embroidery, fiber, floral, folk art, gift baskets, jewelry/lapidary, knitting, leather, metalsmithing, mosaic tiles, needlepoint, painting, paper crafts, photography, plastic canvas or pottery
Services
Computer services: Programmers, systems engineers, networking experts, repair and upgrade specialists, and web designers are a few examples.
Virtual assistent:
As a Virtual Assistent (VA) you could work with telephone support, uppdating home pages or writing articles.
Book keeping: Every company needs a bookeeper.
Consulting: Use your experience in a certain field to be a consultant. You can consult using a homepage, the phone or visit your customers.
Products
New products: Contact a supplier in products you'd like to sell. Sell through your own web store and/or Ebay.
Used products: You could aslo resell used products through your own web store or through Ebay. Buy cheap at flee markets and web auctions and make 50- 100 % profit.
Crafts and art: Do you have a passion in arts or crafts? Make it a full time job using Ebay or your own web store. A few examples of things you can sell: art, basket weaving, beading, candle making, ceramics/polymer clay, crocheting, cross stitch, doll making, embroidery, fiber, floral, folk art, gift baskets, jewelry/lapidary, knitting, leather, metalsmithing, mosaic tiles, needlepoint, painting, paper crafts, photography, plastic canvas or pottery
Anxious Day Trading and Why it Truly is Terrible
Author: John Smith
A Roman dramatist, philosopher and politician named Seneca once quoted this: "Most powerful is he who has himself in his own power". "Most powerful is he who has himself in his own power", Seneca, a Roman dramatist, philosopher and politician, once mentioned. It basically indicates that man is in better position if he is able to control himself. Handling himself and his emotions will be the ideal method to survive. This thought is also applicable for day traders once they are day trading. Some say that day traders are emotionless and needs to be this way but this is just another day trading myth. He has human emotions like any other persons alive. The only difference he has from the common populace is how he is able to exert control over his feelings and not allow it to solely direct his day trading choices.Day trading is adversely affected by five main emotional behavior, one of them is getting anxious. Boredom, depression, fear and greed are the other 4 major emotions that can negatively impact day trading. The day trader's first step towards change and control these emotions is by acknowledging their existence.
Anxiety is also referred to as fear of the unforeseen. An anxious day trader might take more time than required to determine as a result of the bothersome worry he has in his gut. He becomes irrationally scared and might let an opportunity pass or might have a problem letting go of a position.
A little worry does good when it serves to encourage an individual but when it becomes an excessive amount of, worry takes over and paralyzes the person. The market circumstance changes all the time and what could occur next may not be favorable to a day trader but life is actually like that. Accepting this truth and preparing beforehand could be the day trader's very best strategy to cope with his fears. A day trader is well-prepared when he plans his actions before starting day trading and sticks with it all throughout the day. For a lot more suggestions on beating fears throughout day trading, read a day trading blog.
Neglecting to plan is planning to fail as the maxime goes but preparing alone is just not enough. A day trader has to follow his planned activities for the day to take his mind off the negative aspects. Black Tuesday 1929 is one example of day traders who went into panic mode. Before the black Tuesday 1929, too many people were purchasing stocks using borrowed money and when costs started dropping off, worry of what might take place subsequently lead to panic selling which produced every little thing worse for everyone.
Article Source: http://www.articlesbase.com/day-trading-articles/anxious-day-trading-and-why-it-truly-is-terrible-5613978.html
About the Author
To learn how you can be an effective day trader, you can check out this day trading simulator site.
Monday, February 13, 2012
9 Things You need to know to Day Trade
Author: Albert Holl
Day trading is a growing field today as technology and treading tools advance, many people are interested in the glamour that this career holds. If you are interested in day trading, it is important to understand the different day trading strategies so that you can effectively trade penny stocks. There is a fine art to this occupation, and learning how to do it the right way can make or break your day trading career. Much money can be made in this activity, it is crucial that you implement the right day trading strategies.
Generally, there are two types of day traders, the trader that works for a bank or financial institution, and the trader that works independently. Obviously, as an independent day trader, you are subject to a higher degree of risk since you are not backed by a bank or other financial institution, you also will need to supply your own trading software, which can run in the range of a few thousand to many thousands of dollars. If you are interested in trading stocks, day trading can be a great way to start.
To be a day trader, you have a variety of tools available to you. These traders are constantly watching the market trends every minute the market is open, and analyzing how to make the most money, while balancing risks each day.
For day trading, as a retail day trader, you must follow all necessary regulations. As the stock market is regulated by, FINRA, which is the Federal Industry Regulatory Authority, with the extreme risk that day trading exposes you to, it is necessary to properly understand these regulations. To understand the regulations you must first understand what a day trade is. If you fall under the definition it is crucial to follow the regulations.
Day trading, or swing trading, is defined as buying and selling the same penny stock during the same day. This will include any pre-market hours, during market hours, and after-market hours sales. If this occurs in one trading day, it is a day trade. Anything that falls outside of this is not a day trade and is not subjected to the same regulations. Be sure to carefully follow the regulations that exist for day trading.
9 Things You Need to Know to Day Trade
When you are day trading, it is very important that you know and understand the market. By having a solid grasp on the market, and knowing how the penny stocks you are looking at perform, you will be able to ensure that you are making the most of your day trading. Since there is a high risk in this investment portal, you don't want to get involved if you don't truly understand how it works, and you need to know the best trading strategies. These strategies are what are proven to make you the money you want.
Day Trade Penny Stocks
Penny stocks have the option to make the highest gain, with very high percentage yields in a very short amount of time. A penny stock is defined as any stock on the market that is $5 or less a share. Penny stocks are generally how day traders make the majority of their money, and with a penny stock you can limit what you are liable to lose.
Do Your Research
As with any venture you want to embark on, it is very important to have properly researched the market and the stocks that you are interested in. If you do not do proper research, you are risking losing your money and or your client's money. Fundamental and Technical analysis are the two primary ways to research markets. It is best to learn as much as you can about both of these.
Be Prepared to Be Stressed
If day trading was easy, everyone would do it. With risk comes stress, and you must prepare yourself for the stress. The stock market in general is stressful, think about current investments you have, how upset do you get when they lose value? You'll be dealing with this on a daily basis, get used to it! Practice good anti stress techniques to make sure that you are level headed.
Do NOT Depend on Luck
The stock market is not the casino; it is not a luck based game. It is not a game in general, but if you think you are going to slide in their and make money based off of a good guess, you are wrong. It may work once, and get your hopes up, and then you will lose more than you ever imagined. Luck and the stock market does not mix, follow what the research tells you.
Be Careful of your Emotion
If you're sitting on at your computer yelling at one of your 5 screens, there is an issue. Emotion, good or bad can cause a cloud in judgment. If you do well, and let your emotion get the best of you, you may make a bad decision and invest in something you don't want to. Or, if you are doing badly with one particular stock, your emotions may tell you to pull everything else. Don't let this get the best of you. Emotions can cost you so much money, beware of them.
Don't Burn Yourself Out
One of the earlier bullet points explained that day trading is stressful, in order to be successful, you don't want to burn yourself out. Instead of doing trading five days a week, look into four days, you can probably make just as much money if you plan it out right, and you'll be able to sit back and relax. Don't succumb to the pressure of online day trading by working too much. Four days a week will still provide you with a good living if it is done right.
Know When to Take a Loss – Be Smart With Your Money
Part of being a smart day trader is knowing when to take a loss. If you are losing money, it may be time to pull out for the day. Set risk reward parameters prior to entering any trade. These ratios are normally 4-1 risk reward ratio, whereas, if u risk $1 you try and make $4. It is important to use your stop-loss to prevent losing more money than you really need too. Proper planning with technical trading will prevent this.
Put Your Profits Elsewhere
A smart gambler always knows how much they are up, and doesn't spend that portion. You're not a gambler, but you should follow the same philosophy. Every month, take your profits and move them away from the account that you use to buy and sell stocks. Invest this money in a money market, a savings account, or a CD. These are all low risk options. You'll still have the money you always had, but your profits will be safely tucked away for a rainy day.
Never Focus on What you can Earn, Focus on What you can Lose
By understanding how much is at risk, you become a better trader. If you are constantly thinking about how much money you can make, you may make a bad decision. Always knowing how much money you can lose will keep you on your toes, and keep you mindful. Don't count your money before you've made it, limit your losses, and the money will follow. Trade the Market – Don't Trade the Money.
Stock Trading – Types of Orders
To make the most of your money, there are certain orders you can place for your stocks. By following the Stock Trading – Types of Orders, you can limit the amount of money that potentially could be lost at any one time. It is important to understand the stock trading – types of orders and know what you can do with your shares. Orders through the computer will help your daily selling
The first type of order is a limit order. With most online software, this is the default type of order. You can either set a limit for what you want to buy the stock at, or what you want to sell the stock at. Once you've reached that limit in either case, the activity will be completed for you, preventing a loss.
A market order is also known as a not held order. These orders execute at a specific time, they do not have any limitations as to the amount of money the stock is currently up or down. This is a risky strategy and one that most people should not try; it will not bring in the best returns.
A stop loss order sets an upper and lower limit for your stock. It will automatically open or close a market position by buying or selling a stock at that point. For people that aren't active with their accounts this is great. For day traders you can set a stop loss point, and once it gets to that point it will sell, you don't have to watch it every second. If the 30 day trend is telling you it hasn't gone past $4 a share, you may set a stop loss at $3.50 to sell, knowing that is the best you will get.
A trailing stop is a smart order; it will adjust the order based on the changes in the market price. As the market increases, the trailing stop increases also. So, if your prediction was off, and it went far above what you predicted, with a trailing stop it will keep setting limit as the stock increases in value. That way, if it starts going back down, your trailing stop will kick in and help you make the most money.
A market on close order or MOC is very easy to understand. You may want to set your day trades to do this at the end of the day if you don't get to them. Of course, since this simply tied to the market closing, you never know what your profits will be with an option like this. However, if you truly day trade, it will get rid of the stocks you didn't at the end of the day.
Knowing the different orders you can place will help you become a quality day trader. Using online software can provide you will many benefits that will increase your productivity and hopefully your profitability. By truly understanding how the orders work, you'll be able to place them on your stocks.
Since day traders make a lot of buys and sells on a daily basis, it is important to use technology to get the most out of it. If you get overwhelmed, the technology can help carry you through. By setting the right technologies to the right stock, you will never have to worry about your emotions getting the best of you. You'll always have a set plan for your stocks.
Using Technology for Day Trading
There is a lot of technology that will increase your ability to day trade, since this is such a fast moving, demanding industry; you need to have the latest technology to make the most out of your trading. The products for this industry are always changing; stay on top to have the best.
Many websites help narrow down stocks into a niche and wind up doing the work for you. Depending what you are looking for, these websites have a variety of inputs you can manipulate to get what you want, and the answers you need. Generally, you will see the ticker symbol, the name of the company and other examples of stock choices and how they behaved historically, a track record if you will. From there, you can see the other facts about the stock, and what the price and change has been.
Another great tool depending on the service you use for your online stock is a heat map. It generally does just what it says. The heat map breaks up stocks by their sector. It assigns them their area on that portion of the map depending on how much of the market share they own. Then, it assigns them a color. Red is bad, it means that they are losing money. Green means that they are gaining. As they decrease from green to red, the profit margin shrinks. This is a great visual tool to have for your day trading.
Aside from these tools, you also need to have the right equipment. It is important to have a very good office setup wherever you are. Day trading requires multiple monitors with multiple screens that hold the data. As you are trading, you can flip between screens so you never miss anything. Day traders also need quality computers that move quickly, and a great internet connection speed. You don't want to be caught with improper tools, just another way to lose money, be prepared, it helps.
Day Trading Risks
Many people are ready to speak out about the risks of day trading and already do. The U.S Securities and Exchange Commission has posted multiple warnings on the dangers of day trading. It is important to understand these before you jump into a career that involves day trading. A lot of money is at risk to be gained or lost.
Day traders often suffer financial losses in their first few months, and you need to be prepared for that. Some never make money. As with gambling, only risk money you can afford to lose. You don't want to use money that you would generally use the pay the bills, dip from your retirement, or take out a second mortgage on the house, you're just asking to lose money that you don't have.
It is also important to remember that you can be fooled. As a day trader, just because you see a "hot tip" on a website or the "Stock of the Day", it may not be that. Don't get trapped into false advertisement, and depend on what you see. Before you purchase a stock, you want to make sure that you have personally done the research to understand the investment that you are making, this way, if you lose money; you know that you did everything you could to succeed.
Rewards of Day Trading
Day trading isn't just a scary game, there are ways to make lots of money and be very successful. Day trading has become a career for many Americans or a successful hobby when they retire. If you have the funds to start out day trading, you can potentially make a lot of money. By using money that you are ok losing, you'll have the stress off of you and hopefully be able to make some profit.
Being a day trader has many rewards. If you are within the profit margin, you have a lot of wiggle room. You can work a four day work week, giving you more time to travel and enjoy your family. You can also work from any location, an office, your basement, in a hotel room in Italy, wherever you have internet, computers, and a cell phone. The flexibility of this career makes a lot of people take interest in it.
Starting with even just a one percent profit margin each day, a day trader can turn that into money. Some day traders make upwards of $200,000 a year, but these people are far the majority. Your average day trader at home is probably making around $30,000, this may not be enough to live off of, but would be a great supplemental income. There are ways to make money even from home being a day trader; it just takes a lot of hard work and dedication. If you are up for the challenge and up for the stress, you can become a successful day trader with the right tools.
Conclusion
Day trading is not a career for every one; it brings to life high stress situations, and makes people work hard. Day trading was created for people to make quick money, while generally this isn't the case; some people have done it time and time again. Before you get into day trading, it is necessary to understand how it works, and what you need.
Be sure if you are day trading that you are following the proper steps. There are a lot of tips for day traders that can help you succeed. By consistently doing the smart thing, you give yourself the best chance of making money. It's like gambling, there is more skill in it if you develop your unique methodology.
Following tips like not letting your emotions get the best of you, and realizing you are bound to lose money will help you be the best day trader you can be. Living with your heart on your sleeve will destroy you, it is necessary to keep a cool head, and be prepared to lose money, that is why as a day trader you should never use money that you need.
If you're looking for an exciting career where there is unlimited growth potential, check out day trading. With the proper tools, the proper research, the right equipment, and the dedication you can turn into a successful day trader. Be sure to fully understand the stock market before you jump in it and start investing. This is a great new career option for anyone interested; take a look at what it can do for you.
At Penny Payday we offer the building blocks to successful trading by identifying penny stocks that are under promotion and are likely to have upside momentum and volatility. This is an important piece of the puzzle and our website is one of the few who incorporate this into our trading strategy. We welcome you to our family of traders.
Article Source: http://www.articlesbase.com/business-articles/9-things-you-need-to-know-to-day-trade-3272860.html
About the Author
Penny Stock Newsletter: Free Hot Penny Stock Alerts & Penny Stocks and other materials, visit the Penny Stock Picks site.
Day trading is a growing field today as technology and treading tools advance, many people are interested in the glamour that this career holds. If you are interested in day trading, it is important to understand the different day trading strategies so that you can effectively trade penny stocks. There is a fine art to this occupation, and learning how to do it the right way can make or break your day trading career. Much money can be made in this activity, it is crucial that you implement the right day trading strategies.
Generally, there are two types of day traders, the trader that works for a bank or financial institution, and the trader that works independently. Obviously, as an independent day trader, you are subject to a higher degree of risk since you are not backed by a bank or other financial institution, you also will need to supply your own trading software, which can run in the range of a few thousand to many thousands of dollars. If you are interested in trading stocks, day trading can be a great way to start.
To be a day trader, you have a variety of tools available to you. These traders are constantly watching the market trends every minute the market is open, and analyzing how to make the most money, while balancing risks each day.
For day trading, as a retail day trader, you must follow all necessary regulations. As the stock market is regulated by, FINRA, which is the Federal Industry Regulatory Authority, with the extreme risk that day trading exposes you to, it is necessary to properly understand these regulations. To understand the regulations you must first understand what a day trade is. If you fall under the definition it is crucial to follow the regulations.
Day trading, or swing trading, is defined as buying and selling the same penny stock during the same day. This will include any pre-market hours, during market hours, and after-market hours sales. If this occurs in one trading day, it is a day trade. Anything that falls outside of this is not a day trade and is not subjected to the same regulations. Be sure to carefully follow the regulations that exist for day trading.
9 Things You Need to Know to Day Trade
When you are day trading, it is very important that you know and understand the market. By having a solid grasp on the market, and knowing how the penny stocks you are looking at perform, you will be able to ensure that you are making the most of your day trading. Since there is a high risk in this investment portal, you don't want to get involved if you don't truly understand how it works, and you need to know the best trading strategies. These strategies are what are proven to make you the money you want.
Day Trade Penny Stocks
Penny stocks have the option to make the highest gain, with very high percentage yields in a very short amount of time. A penny stock is defined as any stock on the market that is $5 or less a share. Penny stocks are generally how day traders make the majority of their money, and with a penny stock you can limit what you are liable to lose.
Do Your Research
As with any venture you want to embark on, it is very important to have properly researched the market and the stocks that you are interested in. If you do not do proper research, you are risking losing your money and or your client's money. Fundamental and Technical analysis are the two primary ways to research markets. It is best to learn as much as you can about both of these.
Be Prepared to Be Stressed
If day trading was easy, everyone would do it. With risk comes stress, and you must prepare yourself for the stress. The stock market in general is stressful, think about current investments you have, how upset do you get when they lose value? You'll be dealing with this on a daily basis, get used to it! Practice good anti stress techniques to make sure that you are level headed.
Do NOT Depend on Luck
The stock market is not the casino; it is not a luck based game. It is not a game in general, but if you think you are going to slide in their and make money based off of a good guess, you are wrong. It may work once, and get your hopes up, and then you will lose more than you ever imagined. Luck and the stock market does not mix, follow what the research tells you.
Be Careful of your Emotion
If you're sitting on at your computer yelling at one of your 5 screens, there is an issue. Emotion, good or bad can cause a cloud in judgment. If you do well, and let your emotion get the best of you, you may make a bad decision and invest in something you don't want to. Or, if you are doing badly with one particular stock, your emotions may tell you to pull everything else. Don't let this get the best of you. Emotions can cost you so much money, beware of them.
Don't Burn Yourself Out
One of the earlier bullet points explained that day trading is stressful, in order to be successful, you don't want to burn yourself out. Instead of doing trading five days a week, look into four days, you can probably make just as much money if you plan it out right, and you'll be able to sit back and relax. Don't succumb to the pressure of online day trading by working too much. Four days a week will still provide you with a good living if it is done right.
Know When to Take a Loss – Be Smart With Your Money
Part of being a smart day trader is knowing when to take a loss. If you are losing money, it may be time to pull out for the day. Set risk reward parameters prior to entering any trade. These ratios are normally 4-1 risk reward ratio, whereas, if u risk $1 you try and make $4. It is important to use your stop-loss to prevent losing more money than you really need too. Proper planning with technical trading will prevent this.
Put Your Profits Elsewhere
A smart gambler always knows how much they are up, and doesn't spend that portion. You're not a gambler, but you should follow the same philosophy. Every month, take your profits and move them away from the account that you use to buy and sell stocks. Invest this money in a money market, a savings account, or a CD. These are all low risk options. You'll still have the money you always had, but your profits will be safely tucked away for a rainy day.
Never Focus on What you can Earn, Focus on What you can Lose
By understanding how much is at risk, you become a better trader. If you are constantly thinking about how much money you can make, you may make a bad decision. Always knowing how much money you can lose will keep you on your toes, and keep you mindful. Don't count your money before you've made it, limit your losses, and the money will follow. Trade the Market – Don't Trade the Money.
Stock Trading – Types of Orders
To make the most of your money, there are certain orders you can place for your stocks. By following the Stock Trading – Types of Orders, you can limit the amount of money that potentially could be lost at any one time. It is important to understand the stock trading – types of orders and know what you can do with your shares. Orders through the computer will help your daily selling
The first type of order is a limit order. With most online software, this is the default type of order. You can either set a limit for what you want to buy the stock at, or what you want to sell the stock at. Once you've reached that limit in either case, the activity will be completed for you, preventing a loss.
A market order is also known as a not held order. These orders execute at a specific time, they do not have any limitations as to the amount of money the stock is currently up or down. This is a risky strategy and one that most people should not try; it will not bring in the best returns.
A stop loss order sets an upper and lower limit for your stock. It will automatically open or close a market position by buying or selling a stock at that point. For people that aren't active with their accounts this is great. For day traders you can set a stop loss point, and once it gets to that point it will sell, you don't have to watch it every second. If the 30 day trend is telling you it hasn't gone past $4 a share, you may set a stop loss at $3.50 to sell, knowing that is the best you will get.
A trailing stop is a smart order; it will adjust the order based on the changes in the market price. As the market increases, the trailing stop increases also. So, if your prediction was off, and it went far above what you predicted, with a trailing stop it will keep setting limit as the stock increases in value. That way, if it starts going back down, your trailing stop will kick in and help you make the most money.
A market on close order or MOC is very easy to understand. You may want to set your day trades to do this at the end of the day if you don't get to them. Of course, since this simply tied to the market closing, you never know what your profits will be with an option like this. However, if you truly day trade, it will get rid of the stocks you didn't at the end of the day.
Knowing the different orders you can place will help you become a quality day trader. Using online software can provide you will many benefits that will increase your productivity and hopefully your profitability. By truly understanding how the orders work, you'll be able to place them on your stocks.
Since day traders make a lot of buys and sells on a daily basis, it is important to use technology to get the most out of it. If you get overwhelmed, the technology can help carry you through. By setting the right technologies to the right stock, you will never have to worry about your emotions getting the best of you. You'll always have a set plan for your stocks.
Using Technology for Day Trading
There is a lot of technology that will increase your ability to day trade, since this is such a fast moving, demanding industry; you need to have the latest technology to make the most out of your trading. The products for this industry are always changing; stay on top to have the best.
Many websites help narrow down stocks into a niche and wind up doing the work for you. Depending what you are looking for, these websites have a variety of inputs you can manipulate to get what you want, and the answers you need. Generally, you will see the ticker symbol, the name of the company and other examples of stock choices and how they behaved historically, a track record if you will. From there, you can see the other facts about the stock, and what the price and change has been.
Another great tool depending on the service you use for your online stock is a heat map. It generally does just what it says. The heat map breaks up stocks by their sector. It assigns them their area on that portion of the map depending on how much of the market share they own. Then, it assigns them a color. Red is bad, it means that they are losing money. Green means that they are gaining. As they decrease from green to red, the profit margin shrinks. This is a great visual tool to have for your day trading.
Aside from these tools, you also need to have the right equipment. It is important to have a very good office setup wherever you are. Day trading requires multiple monitors with multiple screens that hold the data. As you are trading, you can flip between screens so you never miss anything. Day traders also need quality computers that move quickly, and a great internet connection speed. You don't want to be caught with improper tools, just another way to lose money, be prepared, it helps.
Day Trading Risks
Many people are ready to speak out about the risks of day trading and already do. The U.S Securities and Exchange Commission has posted multiple warnings on the dangers of day trading. It is important to understand these before you jump into a career that involves day trading. A lot of money is at risk to be gained or lost.
Day traders often suffer financial losses in their first few months, and you need to be prepared for that. Some never make money. As with gambling, only risk money you can afford to lose. You don't want to use money that you would generally use the pay the bills, dip from your retirement, or take out a second mortgage on the house, you're just asking to lose money that you don't have.
It is also important to remember that you can be fooled. As a day trader, just because you see a "hot tip" on a website or the "Stock of the Day", it may not be that. Don't get trapped into false advertisement, and depend on what you see. Before you purchase a stock, you want to make sure that you have personally done the research to understand the investment that you are making, this way, if you lose money; you know that you did everything you could to succeed.
Rewards of Day Trading
Day trading isn't just a scary game, there are ways to make lots of money and be very successful. Day trading has become a career for many Americans or a successful hobby when they retire. If you have the funds to start out day trading, you can potentially make a lot of money. By using money that you are ok losing, you'll have the stress off of you and hopefully be able to make some profit.
Being a day trader has many rewards. If you are within the profit margin, you have a lot of wiggle room. You can work a four day work week, giving you more time to travel and enjoy your family. You can also work from any location, an office, your basement, in a hotel room in Italy, wherever you have internet, computers, and a cell phone. The flexibility of this career makes a lot of people take interest in it.
Starting with even just a one percent profit margin each day, a day trader can turn that into money. Some day traders make upwards of $200,000 a year, but these people are far the majority. Your average day trader at home is probably making around $30,000, this may not be enough to live off of, but would be a great supplemental income. There are ways to make money even from home being a day trader; it just takes a lot of hard work and dedication. If you are up for the challenge and up for the stress, you can become a successful day trader with the right tools.
Conclusion
Day trading is not a career for every one; it brings to life high stress situations, and makes people work hard. Day trading was created for people to make quick money, while generally this isn't the case; some people have done it time and time again. Before you get into day trading, it is necessary to understand how it works, and what you need.
Be sure if you are day trading that you are following the proper steps. There are a lot of tips for day traders that can help you succeed. By consistently doing the smart thing, you give yourself the best chance of making money. It's like gambling, there is more skill in it if you develop your unique methodology.
Following tips like not letting your emotions get the best of you, and realizing you are bound to lose money will help you be the best day trader you can be. Living with your heart on your sleeve will destroy you, it is necessary to keep a cool head, and be prepared to lose money, that is why as a day trader you should never use money that you need.
If you're looking for an exciting career where there is unlimited growth potential, check out day trading. With the proper tools, the proper research, the right equipment, and the dedication you can turn into a successful day trader. Be sure to fully understand the stock market before you jump in it and start investing. This is a great new career option for anyone interested; take a look at what it can do for you.
At Penny Payday we offer the building blocks to successful trading by identifying penny stocks that are under promotion and are likely to have upside momentum and volatility. This is an important piece of the puzzle and our website is one of the few who incorporate this into our trading strategy. We welcome you to our family of traders.
Article Source: http://www.articlesbase.com/business-articles/9-things-you-need-to-know-to-day-trade-3272860.html
About the Author
Penny Stock Newsletter: Free Hot Penny Stock Alerts & Penny Stocks and other materials, visit the Penny Stock Picks site.
Friday, February 10, 2012
Day Trading Risk and Reward: 4 Tactics To Decide Your Best Strategy
Author: Brian Heyliger
Are you frustrated with day trading and your lack of day trading success? I have a solution for the problems which stem from what "typical" day traders try to do, which is to make many, many trades one after the other and grind out tiny profits each time.
That day trading strategy is counter-productive. It forces you to make too many decisions and that mental gymnastics will play havoc with your emotions. That's bad for you, because the stress means it's unlikely you'll be very happy -- even if you're actually making money! It's much better to be both profitable and happy.
So here's my 4 part solution:
1. You want to make money as a day trader as easily as possible by following the adage "work smart, not hard". Coming up with enormously complicated (or high-frequency) trading methods is not working smart. It's working hard.
2. Create (or obtain) a system with highly-defined criteria that will give you no more than two high-probability signals a day, perhaps three on an exceptional day. (Here I define "high probability signals" as those that will generate the target profit 75% of the time or better).
3. Once you have such a system, trade it with discipline. That's all you need to generate a $100k+ annual trading income. The high-probability nature of such trading means you will make money if you follow the trades consistently.
What could be better?
4. Well, it's even more of an advantage if most of your high-probability trading signals tend to show up in the first couple hours of trading (i.e. before lunch if you're on Eastern Standard Time in North America, or before breakfast if you're on the other coast). That factor will normally free you from spending all day in front of your monitor each trading session. You'll have a better life by doing other things in your life besides trading.
Article Source: http://www.articlesbase.com/day-trading-articles/day-trading-risk-and-reward-4-tactics-to-decide-your-best-strategy-3653100.html
About the Author
Find out more on this topic with a free professional traders e-course including 3 special reports and a 25 minute video. Click here...
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Brian Heyliger is a successful futures day and swing trader who specializes in the e-mini S&P, Treasury Bond and other high-probability, high-profit markets.
Thursday, February 9, 2012
What Are The Day Trading Risks?
Author: LEU GIAM NG
Day trading is high in risk, if you have heart problem, don't do it. It is more killing than the real roller coaster ride in any amusement park in the world. You may be able to make good daily return but the high risk is always on the top. You will experience the highs and lows throughout the trading sector, you can always get a heart failure. Whether it is luck or science, day trading for many has proven to be risky business at best.
The Risks
You always, at the first place, must be absolutely prepared to lose before you could win. You don't have time to think about failure, as this is a lightening quick business. The market may sometimes moves much more quickly than your fingers. You may end up to unexpected losses as well as on the other hand to unexpected gains. These bumps in the road are nothing to compare to the highs and lows of being a day trader. Put aside the finances for a while, think of the risks of heart attacks, hearth palpitations, and strokes brought on by the excitement and heartburn of the moment.
Day trading is high taxing as well. You must constantly watch your computer throughout the day for signs of life from your stock and act promptly. This is a high stress job. Not many people can do it in long term. Unfortunately, you must become a day trader because of you have little time or energy to invest in anything else. There are those that get a huge charge from day trading but this is not a job for average people. It takes a huge toll on the health to much quickly, especially those are sensitive to stress.
You may take a big risk to get addicted to the highs and lows in the day trading. This is just like an addicted gambler. Once you get addicted, it is much more difficult to temper your purchases and counter your losses. If you can't look at it at a clear mind and unhampered perspective, it doesn't seem nearly as dangerous as it can be. Lives are ruined financially to the irresponsible of day trading. Addicted to day trading is much like addicted to gambling. If you or your love are suspected to the victim to this particular addiction, help yourself or your love one out of this situation as quickly as possible.
Day trading is not investing in the strictest sense of the world. Day traders don't invest in stocks as much as they trade stocks, they buy and sell quickly hoping for immediate gratification. Investors hold onto stocks for a while with the expectation of gain over time. Investors research and study a specific stock before purchasing it while traders study patterns and formulas, and hope that they made the right decision.
Investing in and of itself carries risks, while day trading adds another layer of risk to the equation. If you want to get involved with day trading, please make sure that you have other investments as well.
Article Source: http://www.articlesbase.com/day-trading-articles/what-are-the-day-trading-risks-5312253.html
Day trading is high in risk, if you have heart problem, don't do it. It is more killing than the real roller coaster ride in any amusement park in the world. You may be able to make good daily return but the high risk is always on the top. You will experience the highs and lows throughout the trading sector, you can always get a heart failure. Whether it is luck or science, day trading for many has proven to be risky business at best.
The Risks
You always, at the first place, must be absolutely prepared to lose before you could win. You don't have time to think about failure, as this is a lightening quick business. The market may sometimes moves much more quickly than your fingers. You may end up to unexpected losses as well as on the other hand to unexpected gains. These bumps in the road are nothing to compare to the highs and lows of being a day trader. Put aside the finances for a while, think of the risks of heart attacks, hearth palpitations, and strokes brought on by the excitement and heartburn of the moment.
Day trading is high taxing as well. You must constantly watch your computer throughout the day for signs of life from your stock and act promptly. This is a high stress job. Not many people can do it in long term. Unfortunately, you must become a day trader because of you have little time or energy to invest in anything else. There are those that get a huge charge from day trading but this is not a job for average people. It takes a huge toll on the health to much quickly, especially those are sensitive to stress.
You may take a big risk to get addicted to the highs and lows in the day trading. This is just like an addicted gambler. Once you get addicted, it is much more difficult to temper your purchases and counter your losses. If you can't look at it at a clear mind and unhampered perspective, it doesn't seem nearly as dangerous as it can be. Lives are ruined financially to the irresponsible of day trading. Addicted to day trading is much like addicted to gambling. If you or your love are suspected to the victim to this particular addiction, help yourself or your love one out of this situation as quickly as possible.
Day trading is not investing in the strictest sense of the world. Day traders don't invest in stocks as much as they trade stocks, they buy and sell quickly hoping for immediate gratification. Investors hold onto stocks for a while with the expectation of gain over time. Investors research and study a specific stock before purchasing it while traders study patterns and formulas, and hope that they made the right decision.
Investing in and of itself carries risks, while day trading adds another layer of risk to the equation. If you want to get involved with day trading, please make sure that you have other investments as well.
Article Source: http://www.articlesbase.com/day-trading-articles/what-are-the-day-trading-risks-5312253.html
About day trading
In a few articles I'm going to inform you about the day treading business. If you want to be a day trader you really need should be aware about the risks and consequences associated to Day trading. If you read the future articles about day trading I hope that I'll give you a knowledge base that makes it easy for you to decide whether or not you should start your Day trader business.
The read more in the subject Day trading just click the link Day trading.
The read more in the subject Day trading just click the link Day trading.
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