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Written by Leroy Rushing
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Trading discipline is a fast track to trading success. Disciplined, working strategies will statistically win in the long run. But how should you celebrate your trading success and make the most of your wins?
Day Trading Mentality
Day traders who make a quick profit are the first to celebrate trading success. The small intraday movements in price are enough to keep day traders happy with their positions. The most important thing to remember is even with a comprehensive trading plan, losses are inevitable. Statistically, a win only brings more losses, but the biggest trading secret is that a few wins can easily strike out many small losses.
For day trading with a small account, trading success should send the trader to increase his or her stake. Your trading capital must grow over time to cover your own cost of living, as well as provide a “pay raise” over time. To obtain financial freedom, a day trader must have sufficient capital to both weather losses and collect big gains.
The Biggest Fallacy in Celebration
After a big win, the greatest fallacy a trader enacts is changing his or her trading structure. Too many times, an over-confident day trader makes trades based on “gut” feelings, rather than basic trading fundamentals. However, in this scenario, the trader eliminates strategy, instead entering the gray zone characteristic of gambling. Remember, the difference between gambling and day trading is proper money management. Proven techniques and strategies are profitable in the long run because they have set criteria for each trade, rather than just a stab in the dark based upon “gut” feelings.
The Greatest Gift of Success is Education
Learn from your successes. Indeed, the greatest gift of trading success is the education it presents you. Chances are that you placed the trade because of your own trading system and analysis; review the details surrounding your trade (ideally in the trade journal you keep) to develop a core of strategies that will produce winning trades.
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Written by Lara Sawyer
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Sometimes when it comes to Christmas presents it is hard to choose. One does not know everyone on the party and may be afraid of give something that the person will not like. Of course, the ideal present will depend on whether you are giving it to a kid or an adult and how much money you are willing to spend. Nevertheless, following is a list of possible gift that you can surprise your loved ones with and that will surely be a success.
Classic Movies
There are several classic Christmas movies that can be an excellent present for almost anyone and there are various to chose from so regardless the age of the gift addressees there is surely one for them. Various titles that can be offered as presents during Christmas are: White Christmas, It is a wonderful life, It happened one night, Miracle on 34th Street, Jungle book from Disney for kids, An affair to remember and many, many more titles you can easily find by doing a quick search on the net.
Chocolate
Everyone loves chocolate and it comes in so many shapes these days that you surely can find a presentation that suits each gift addressee. You can get those cute packages with chocolate filled with liquor for the old ones and various different animal shaped chocolates with milk for the younger ones. Also, a big chocolate bar is an excellent addition to attach to a small present when your funds are running low (everybody knows that chocolates are cheap).
Wines, Champagne, Liquors
For the old ones, if you do not know them enough, very classy and flexible presents are beverages like a good bottle of wine (they come of all prices and shapes, some are local and cheap, others are imported and expensive). A good alternative to wine if you are not very familiar with it is to purchase a bottle of champagne. There is also a wide range of types and prices so you will not have a problem to adjust this option to your budget. Finally, exotic liquors are always a success, they can even be opened during the occasion and you can also have the chance to have a taste of your present.
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Written by Dane Smith
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The greenback has been slipping against the euro, the Chinese yuan, and the pound for the past nine months or so, reaching record lows amidst a global credit crunch and plummeting real estate prices. What does this mean for US growth? According to the Federal Reserve, projected economic growth will slow from more than 2.5, and inflation remains a concern. But one figure does not an explanation give.
The dollar is an indicator of how strong and robust the US economy is, relative to other countries and currencies. As news of record mortgage defaults, volatile markets, and skyrocketing oil prices continue to trickle in from throughout the US, consumer confidence has tumbled and with it their spending has tightened. This signals an impending shift that Americans will have to weather, but which actually provides a useful impetus for making some fundamental changes in the economy.
If Americans are forced to actually save, (rather than going into negative savings, as the average American has within the past two years) a falling currency can actually be absorbed without causing economic devastation. Simply put, most Americans don't plan for their economic future very well, and are in fact in debt more often than not. No matter how much growth the US economy may generally experience, it is unsustainable for our present levels of spending to result in a beneficial outcome indefinitely. Therefore, a falling currency forces a necessary economic reality to be faced, which may have a much better end result, even if the transition is somewhat unpleasant.
A depressing currency also makes US exports cheaper for other countries, hence ensuring that demand for American labor will be attractive to foreign interests. While this may guarantee some growth, if US manufacturers aren't hiring Americans, (because we aren't willing to do the work and illegal immigrants are) the US cannot reap these benefits. Hence another attitude shift is in order: That there are no jobs in America that Americans should be unwilling to perform. This has been a huge strength in US history, as American manufacturing and industrialization fueled its development into an economic powerhouse throughout the twentieth century.
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