Posts Tagged "Investment"

Have You Paid To Do A Trading Course But Not Invested In Your Own Trading Account?

Posted by on Apr 29, 2014 in Featured, Learning to Trade?

Have You Paid To Do A Trading Course But Not Invested In Your Own Trading Account?

Most courses that teach you about forex, the market and trading come at a price. This cost is justified by the fact that the knowledge that you are gaining on the courses are a skill that can lead to financial independence. That being said I find it quite astounding that delegates are willing to invest a significant amount of money to learn but then do not take these skills that they have learnt and apply them to the market. They have the resources they need and at least some experience live trading (a perk of Plan B Trading courses) but do not make an investment in their trading account. If it is confidence that these delegates are lacking there are plenty of resources out there, that now thanks to the internet and smart phones are more accessible than ever. Plan B Trading even offer support sessions and after-care schemes so that each individual does have the confidence to start trading. Another issue I have found is that the longer people leave it to make their initial investment in their own trading accounts the more they start to doubt their own ability and their knowledge. Here’s my advice for that – start small. Only invest money that you are willing to lose. Each trade can be as little as £3 worth of currency. Experiment; get a feel for the market, the currency pairs and the software that you are using. As your confidence grows increase the amount of money you are using for each trade. It really is a case of slow and steady wins the race and there is no shame in that whatsoever. It would be a shame to make that initial investment and then go no further with it. By doing that you will never see any return on your initial investment and no one wants that. It’d be great for people to shed some light on this common issue, so please leave a comment or get in touch via Twitter. If you have any questions about the market or our courses please do not hesitate to get in...

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Demo Accounts

Posted by on Mar 25, 2014 in Featured, Learning to Trade?

Demo Accounts

Are you learning to trade? Demo accounts are a great way to get a feel for the way that the system works but my advice to you would be to limit the period of time that you use the account for. I would personally advise that you only use the account for roughly a month. Of course if you are not feeling confident by all means continue using the demo account, however it’s important to be aware that when you trade in the market it will feel completely different. There are a lot of different factors that will start to influence your decisions when you are trading with real money because with real money comes real emotions! While using a demo account, you will obviously be doing what you can to ensure that you make a profit from your days trading but if you do lose it is no real loss. One of the most difficult factors of trading is keeping your emotions at bay and I believe that the only way to do this is through experience and by only investing money that you are prepared to lose. There is a very complex psychology behind trading in the market and the majority of it does come down to emotions. Avoid pitfalls by keeping tabs on traits such as arrogance and greed – I thoroughly believe that the market gives you warning signs (most of the time) before the rate is about to drop. Do the smart thing! If you would like advice on demo accounts or keeping your emotions in check please don’t hesitate to get in touch. If you have any questions, please leave a comment or get in touch via Twitter...

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How I Started Trading by Mark Walas

Posted by on Jan 28, 2014 in Featured, Learning to Trade?

How I Started Trading by Mark Walas

The first time I bought shares in a company was in 1978, in a business in the IT industry. Six months later, I sold these shares and had a profit of more than 60% on my original investment. With an experience like that, it’s hardly any wonder that I continued investing in companies to profit from share price movements. I traded firstly in stocks and shares and then, as my confidence grew, in foreign exchange. It was most certainly exciting, Forex often moved more in a minute than a share did in a week. It also proved costly as, like many traders starting out, I made many mistakes. It looked so easy to buy and sell, and it was. The challenge was making a profit. In fact, the main result of my early trading was a rapidly diminishing bank balance. There were no explanations of where I was going wrong. After all, the best investment you can ever make is an investment in yourself, right? Off to some free seminars to enrol in a training programme purporting to have a “value” of thousands available today only for a fraction of the price. Oh, and by the way, you’ll have covered the cost of the programme in the first few weeks and you’ll be looking at millionaire status in a couple of years time. Here is a picture of the trader in a Maserati. Strange how it didn’t quite work out like that and I later learned that these are all of the warning symptoms for the seminar/marketing industry associated with trading. How about being honest? Trading is not a get rich quick scheme. It will not solve your immediate financial crisis tomorrow. Trading is a practical skill, you’ll have to work at it. It will take you some time and effort to master trading. These might not be the messages you want to hear, but they are far closer to the truth. I found that companies promising how much money you are going to make can’t deliver it without extraordinary risk. You may as well head to a casino and put all your money on a single number. Yet amongst the smoke and mirrors, there are many good people working hard to help you succeed at trading. These are the traders that will work with you over a period of time to help you acquire and develop the necessary skills to trade successfully. I was lucky enough to meet some of them on my journey. Through Plan B Trading, I am fortunate to work with these traders now. These traders take great pride in their work, they get a real sense of achievement from helping others and get the greatest satisfaction from the thanks they receive from their customers. Whether you are trading now or not, let one of Plan B’s traders help you achieve your own financial goals. Our traders have years of experience in trading and trade their own funds. It’s not about being a millionaire, just about making a good income from the markets. There won’t be any false promises, just the professionalism you should expect from any business that is focused on it’s clients. To find out more about how we can help you please get in touch...

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