The Essential Quick guide to Forex Trading Resources and Tools

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The Forex market is one of the most lucrative trading spaces out there today. This is because of its high potential and the availability of a plethora of resources and tools for beginners. These resources and tools for beginners can come in different forms such as educational resources, trading platforms, and various other tools. In this article, you will learn about the different resources and tools for forex trading, their importance, and how you can get started. These resources and tools can make your transition into the Forex market much easier than you think. They can also help you make the right decisions when it comes to trading. Let’s take a look at the things you need to know before jumping into the world of Forex trading.

Forex Trading Resources and Tools: What are They?

Forex resources and tools are the different tools and resources that are out there to help you be a better forex trader. These can come in different forms such as educational videos, webinars, books, blogs, and forums. Let’s take a look at some of these forex trading resources and tools and what they can do for you.

Educational Resources

In this day and age, forex trading is no longer an alien concept. With the availability of educational resources and tools, it has become easier for even the non-technical traders to venture into the world of forex trading. These resources and tools can be a great help when it comes to learning more about the forex market and how to get started with trading.

Those with high interest in forex trading and especially beginners can leverage educational and training resources made available by top forex trading platforms to enhance their experience. It is advisable to have a mix of these resources in order to be successful in the forex trading business. The below mentioned platforms will be beneficial to you if factored into consideration:

• Forex Signals. Armed with livestreaming, proven strategies, effective tools and proficient traders, this platform ensures that you do not rely only on forex trading signals. There is myriad of video lessons that are easily comprehensible with over 300 hours duration. This platform is a known place to learn forex trading and has got numerous numbers in terms of five-star reviews. There is the availability of proficient coaches to assist all cadres of traders. $47 per month is the staring membership fee, in addition to that comes accessibility to concurrent market commentary with five daily live streams. 24/7 live chat with other traders. Available strategies for learning and applicability. There is also a personal buddy to guide you through.

• JustForex. This is another good platform for those in the emerging market countries can leverage. Pretty efficient, JustForex offer analytics and educational resources. These include learning centre, online webinars, forex articles, forex glossary and educational videos. On the analytics side, there is the daily forecast, market news and economic calendar.

• Asia Forex Mentor. This is suitable for both advanced traders and beginners. The founder, Ezekiel Chew is a renowned and highly experienced guru in the financial market industry. He regularly delivers forex trainings and lectures in major forex training events and panels. The core programmes offered here are precisely strategic and ensure maximum returns on investment. His analytical prowess is highly efficient and you will learn how to operate in the forex market with explicit price action that is validated by profitability and mathematics. He is also a top trainer for most notable workers in banks all over the world.

• Udemy. Starters and intermediates will find this platform not only cheaper but handy as it offers a variety of topics that are available online. Notable in the creation of forex training course on Udemy is Musa Tshikotshi with more than 8 years forex trading experience covered viable topic beneficial to starters and intermediates. There are short videos and videos on demand for the forex course in addition to accessibility on full lifetime basis money back guaranteed.  This course cost $84.99. The downside on this platform is that there is no real live market demo/streaming to really enforce learning practical.

 

Forex Books

Forex books are still the most popular forex resources and tools out there today. These books can be a great source of knowledge for forex traders. Even if you have used forex trading before, you may have forgotten some of the key things that you did. In these books, you can write down all of your key thoughts and insights about trading and review them. Doing this can help you learn more and have a better understanding of the forex trading world. Though there are many good forex books out there, you can grab a copy of some of the ones listed below:

•      Currency Trading For Dummies by Paul Mladjenovic

•     The Almanac of Foreign Exchange 2020-30: Your guide to earning profits from trading the twenty most liquid currencies by David. J. Howden Ph.D.

•     A Three-Dimensional Approach to Forex Trading by Anna Coulling

•     Day Trading and Swing Trading. The Currency Market by Kathy Lien

•     Forex Hacks Exposed. All You Need To Succeed In Forex by Jimmy Brown

Forex Blogs

The forex blog is a great forex resources and tools for forex traders. Forex blogs can be a source not just of knowledge, but also of entertainment. You can learn a lot about the trading world and forex trading itself by reading these forex blogs. These blogs can also be a great source of inspiration and motivation. It can be a great way to stay motivated and constantly stay on top of your game. The list here is not exhaustive but you can check out some of these ones enumerated here:

•   DailyFX provided by IG.        

•  HotForeX Analysis

•  BabyPips.com-Learn Forex Trading

•   Forex Crunch

•  Investing.com

•  RoboForex Blog

•  Admiral Markets Traders Blog

•   Forex Training Group

•  Action Forex

Forex Forums

The forex forum is a great forex trading resource and tool. Forums can be a great way to interact with other traders and learn more about forex trading. You can also learn different strategies and tactics that other traders use and ask them to share their knowledge with you. Here are some good forex forums to join:

•          Reddit Forex Trading Community

•      Forex Lasers Forum

•      ForexForum.co

•      Trade2Win

•      Traderji Forum

•      Forex Station

Types of Forex Trading

The business of purchasing or selling foreign currency is referred to as forex trading. The main focus of this trading is to make profits by turning the change in value between two different currencies. The most popular forex trading instruments are the currencies such as the US Dollar, Euro, British Pound, and Japanese Yen. There are various other types of forex trading such as spot trading, spot FX, and currency swaps. These are only some of the most popular types of forex trading. There are also other types of forex trading such as CFD trading and currency option trading. The thing about forex trading is that it can be done in almost any market. This makes it one of the most flexible trading spaces available today.

Critical Aspects to Take into Account When Selecting a Forex Broker

Before you can start trading, you need to find a forex broker. A forex broker is a firm that specializes in foreign exchange trading. These brokers can be online platforms or brick-and-mortar offices. When choosing a forex broker, there are a number of things that you need to keep in mind. The most important thing that you need to consider when choosing a forex broker is your trading needs. This will assist you in selecting the right forex broker for your needs. Another important factor that you need to consider when choosing a forex broker is the broker’s reputation. This can help you choose a forex broker that has a good reputation in the industry.

MetaTrader 4 Platform

As one of the most popular and widely used platforms for forex trading, MetaTrader 4 (MT4) is an important forex trading resources and tools to consider. MT4 is a powerful trading platform that comes with an array of features and tools. These features and tools can be used to help you trade and make more informed decisions. This platform can be used to trade forex and other financial markets. It is also a great place to learn and become a better trader. It can be used as a standalone trading application or through a brokerage account. You can also use this platform to create your own trading strategies and indicators. This is a great place to start when looking for forex trading resources and tools.

Webinars and Conferences

The importance of webinars cannot be understated. They are the most convenient way to get your questions answered. You can attend these webinars from anywhere in the world. There are also many forex conferences that you can attend. These conferences can be a great source of knowledge for you and help you learn more about the forex market. This can be a great way to meet up with other people who are also trying to learn more about forex trading. Some handy platforms for conferences include:

• The London-Leads Investor Show

•  MEN Financial Forum and Expo

• China Forex Expo

• XM International Forex Seminars

 

Forex APIs and Other Tools

Forex APIs can be a great forex trading resources and tools. These APIs can help you get into the world of trading faster. You can also use these APIs to build your own trading strategy and indicators. The best thing about these APIs is that they come free of charge. You can also use these APIs to build your own trading strategy and indicators. They can be a great help when it comes to learning more about the forex market and how to get started with trading. Some APIs out there comprises:

•          Quotient

•       Alpha Vantage

•       Finnhub (Realtime Stock Price)

•       FCS

•      Twelve Data

•      Tradematic Cloud

•      CurrencyScoop

 

Conclusion

Forex trading is a highly lucrative market and can offer excellent returns. However, to make the most of this opportunity, you need to have the right forex resources and tools. In this article, we’ve explored the importance of forex resources and tools and given you tips on how to choose the best ones. We recommend that you use these resources and tools to make your forex trading experience much easier and more fun.

How To Raise Funds For Your Side Hustle & Improve Your Personal Finances

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Have you ever considered how you'll finance your side hustle? Perhaps you’ve fantasized about opening a business that will earn you money while you’re also working a regular job. Or maybe you’re just craving for a new way to make money that fits with your lifestyle and will allow you to build financial independence. Whatever your reasons, side hustles can be a great way to earn money that is open-ended and flexible.

That makes it perfect for working side by side with a full-time job. So if you have a passion for a particular area and you think you have a good idea for a business, a side hustle can be a great way to turn your idea into a money-making venture. And that’s the case whether you’re looking to make money from investments, an extra income or simply a way to fund your own business. And while you might be thinking of a side hustle as simply a second gig, it can become a real source of income too.

 That’s because side hustles can be a great way to gain experience and build your skillset as well as improve your personal finances. With that in mind, read on to learn how you can raise funds for your side hustle and improve your personal finances at the same time.

 

Side Hustle Fundraising Tips

If you want to raise funds for your side hustle, you’ll need to figure out a way to generate extra income. And you’ll also have to identify the best way to do so. That said, one way to think about side hustles is as a way to supplement your regular income.

However, that’s different to simply dipping into savings or taking a loan to fund your side project. Instead, you’re looking to make additional money that’s outside the normal budget. And that can include doing freelance work, selling products, offering services, creating a course or even blogging or selling e-books.

If you’re looking to raise funds for your side hustle, there are a few fundraising methods you can try. Some of these include crowdfunding, selling your own products and services, and crowdfunding through equity or debt financing. The reviewed choices each has advantages and disadvantages. So, let’s look at the options and the best ways to go about raising funds for your side hustle.

Crowdfunding. It allows you to raise funds from a huge number of people through online platforms. It's a novel approach to raise money for new projects, enterprises, or concepts. It could also be a technique to build a community round your product or service. You can also acquire vital industry information and exposure to new customers by harnessing the benefits of the internet community.

By utilizing platforms for crowdfunding which typically are websites, you will be able to interface with the public in the fundraising activity. The platform provider will charge you a fee is the fundraising is successful.

P2P Crowdfunding. In this type of crowdfunding, the populace contributes funds to your business with the expectation that it will be refunded with interest. It's comparable to regular bank lending, only you're borrowing from a group of investors. The advantages of using this fundraising type include: it’s cost friendly-cheaper than most banking rates, because the process is completed online, it is usually faster and simple and it has extensive coverage. The inherent disadvantage this has is that you may be faced with the payment of additional processing charges.

Crowdfunding Through Equity. This entails the sale of a portion of a company to a group of investors in exchange for money. The concept is comparable to how common shares or venture funding is acquired and traded on a securities exchange. Again, a major advantage here is that you can raise a large amount of money. Conversely, the disadvantage is that it does not find investors for you and in addition to this you may be confronted with scammers risk.

Involve Friends and Family Members in your fundraising strategy. This could be a really low cost means of raising money for your side hustle. Some friends and family members may make money available to you totally free of interest and charges.

Go for a Credit Facility. In the past, the traditional financial institutions were the only available means of obtaining loan financing for propelling a business off to a ground start. This in recent times have changed enormously. There is a plethora of  financial tech companies and banks that offer varying degrees of funding to new businesses. In Nigeria, for instance, fintech companies like Fairmoney, Palmcredit, Reinmoney, Kuda bank and QuickCheck offer these services. And the good thing is that the bureaucracy of paperwork are no more existing. Your application process is made quickly through the deployment of technology and tech devices.

 

Side Hustle Ideas

One thing to keep in mind when thinking about how to fund your side hustle is that you don’t want to raise funds for your hypothetical venture. Instead, you should be thinking about how you can generate funds for your idea. And that means that you need to come up with an idea that can be sold or turned into a product. So, if you have an interesting idea for a business, you need to figure out the best way to turn it into a profitable venture. And that could include creating a product or service, offering an online course, or starting an online or offline business.

You could look into the below itemized passive income generating ideas for the ideation of your side hustle:

• On Gazelle, you can recycle used old smartphones and devices.

•  With Click Funnels, you can easily create a marketing funnel.

• Float a cleaning and fumigation company

• Make video tutorials for YouTube or a how to blog teachings

• Develop and sell products on Etsy

• Car wash and detailing auto shop

• Activate a food truck business.

 

Boost Your Personal Financial Situation

Having a side hustle can be a great way to improve your personal finances. That’s because a side hustle often offers flexibility, freedom and the chance to earn money from a passion.

And that means that you can work at a regular job and also make extra money from a side hustle. And this is something that can offer a number of benefits. For example, being able to make money from a side hustle can offer you greater freedom to make decisions while you’re still earning income. And that can make you feel more in control of your finances. Even better, a side hustle can offer you the flexibility to take time off to pursue a passion, take care of family commitments or simply pursue an unconventional hobby you’ve always wanted to try.

And all of that is something that can improve your personal finances in a number of ways. But, if you’re looking to raise funds for your side hustle, you can also improve your personal finances by finding funding for your project. That’s because funding your project means that you’ll have control over the amount of funding you receive. And that can mean that you’re more likely to reach your funding goal and get the money you need to get your project off the ground.

Bottom Line

The key to raising finances for your side hustle is to first find out what you want to do and then figure out how to make money from it. That means you'll need to come up with a product or service that you can sell. And that will be determined by your area of interest. Consider how you can transform a good business idea into a profitable firm. You should be able to discover a crowdfunding site on which to conduct a campaign if you want to raise funds for your side hustle haven developed a great idea.

For more insights into How To Raise Funds For Your Side Hustle & Improve Your Personal Finances, check out these resources:

• Create An Effective Side Hustle
• Guide to Starting a Side Hustle

Is NFTs worth investing in? 6 factors to consider before you say yes

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Nonfungible token assets, or NFTs, are digital tokens that constitute real-world ownership of assets. You might have heard of a handful of projects that are trying to make NFTs mainstream, such as CryptoKitties, RarePepe, and CryptoBuck. The idea is that NFTs could become a cheaper and more secure way to invest in real world assets (e.g., collectibles) and digital assets (e.g., cryptocurrencies).NFTs are now at the peak of their popularity in the crypto space. They have been around for about 2 years now, but have a positive momentum that has accelerated in the last few months.

It’s becoming evident that NFTs are here to stay. But, with so many projects emerging in the space, how do you sift through the red-hot projects to find the diamonds in the rough?

Let’s take a look at 6 factors to consider before you say yes to NFTs.

What is a Non-Fungible Token?

Non-fungible tokens (NFTs) represent a new asset class. That’s right — they’re not fungible tokens. Hence, it is a virtual representation of real-world goods such as art, music, in-game items, and films. They're acquired and traded online, often using cryptocurrency, and they're usually created with the same software as most other cryptos.

A fungible token can be used as money and is interchangeable with another identical token. With NFTs, however, each token represents a specific asset and is unique. A specific Pokémon card, for example, could be represented by its own token and be traded on a centralized platform. NFTs are rapidly gaining popularity as a chosen method of purchasing and selling digital artwork. A look backwards from November 2017 to date, a whopping $174 million has been utilized on NFTs transactions in total.

NFTs: A Growing Trend

NFTs first emerged in 2017 as a fun way for crypto enthusiasts to sell their collectibles to other enthusiasts. The hype quickly went viral and crashed the Ethereum network due to sheer traffic.

Fast forward to today and NFTs are no longer just a novelty — they’re here to stay.

In late 2018 and early 2019, the buzz around NFTs reached a fever pitch. Crypto enthusiasts rushed to collect unique digital assets, which fuelled a new asset class and increased demand for NFTs. Gaming was the second most significant emerging trend for NFTs in 2021. NFTs have served as a catalyst in gaming, as block chain technology based earn while you play games that compensate players including in game assets, have set in its first time that gamers are truly the proprietors of their assets. These they could then sell on NFT exchanges for a profit.

The trend for 2022 seems to be the purchasing and selling of fractionalized NFTs of real-world masterpieces by well-known painters, and fractionalized NFTs has allowed investors to invest in strong cryptocurrency assets for a fraction of the price, you can get crypto assets.

Now that the hype has died down, perhaps it’s a good time to evaluate if NFTs are worth it.

Is it worthwhile to invest in NFTs?

NFTs, like any other asset type, have advantages and disadvantages. The value of a collectible depends on the perception of the person who wants it and the purpose for owning it.  There are actually some digital artworks that are not utterly overpriced while there are still some that does. We’ll swiftly assess whether they're worthwhile investments - but remember, we're not financial counsellors, so you should always conduct your own research.

How to evaluate an NFT

Is the Project Worth Investing in?

One of the first questions you should ask yourself is whether the project is worth investing in. Personally, I see two types of projects.

First, there are projects that are interesting from a technology perspective. They may be trying to solve a real problem or offer a novel solution to a problem.

For example, RarePepe is a blockchain-based platform that connects rare Pepe cards with new owners through an auction-style marketplace. It’s a novel approach for a problem no one has ever solved before — even though it seems like a great idea.

The second type of project is a traditional investment. It’s not interesting from a technology perspective, but it’s a product or service that’s trying to gain market share. These projects often have a delayed product that they’re trying to release, so they’re worth investing in.

Is the Token Transferrable?

This may be a red flag for many projects. There are many projects that are trying to make NFTs mainstream, but not all of them are worth it.

We wouldn’t want to invest in a company that doesn’t want us to sell their tokens.

So, how do you know if a project is trying to make its tokens non-transferable?

There are many red flags in this area. First, you want to make sure that the project is trying to make its tokens non-transferable.

Many projects are trying to make their tokens non-transferable, but not all of them are worth it.

Second, the project should have a solid plan to make sure the tokens are not transferrable.

If the project’s plan doesn’t include a way to make the tokens not transferrable, you should run away as far as you can.

How to invest in NFTs

You'll need the following items to establish your own NFT collection. A digital wallet to hold NFTs and cryptocurrencies first. Contingent on what currencies your NFT issuer takes, you'll probably have to buy some cryptocurrency, such as Ether. Credit/debit cards and P2P are available for you to fund your wallet on any of the chosen trading platforms.

Find a Decentralized Exchange or Trading Platform

There are a plethora of decentralized exchanges and trading platforms. It’s a good idea to do your research and find one that suits your needs. Centaurus is an example.

There are centralized exchanges, but they’re often the subject of hacking attacks.

• That’s why it’s best to invest in NFTs through a decentralized exchange or trading platform.

Buy the Token Off the Ground

The first step is to find a reputable trading platform. That platform should allow you to trade the token.

If you want to get into the market early, it’s best to find a trading platform that’s willing to offer the token for sale.

• Once you’ve found a platform that’s willing to offer the token, you can go ahead and buy it off the ground.

 

In terms of size, the most accepted marketplaces for NFTs are: OpenSea, Foundation, and Rarible.

A Way to Invest in Real World Assets

Once you’ve got the hang of investing in NFTs, you may want to invest in real world assets.

There are plenty of platforms that will connect you with investors who want to purchase real world assets such as art, cars, and sports franchises.

You can find these types of platforms on sites like FundYourselfNow.

 The 6 Factors to Consider before Saying Yes to NFTs

Creating a NFT is exciting, but it may also be nerve-wracking. While it may feel like your world is about to end, remember that not everyone feels the same way about NFTs. Do your research, ask questions, and consider the following factors before saying yes to NFTs:

Understand The Basics

It’s understandable if you have never heard of NFTs before. You can’t expect people to know about something they don’t know about! Before you dive into creating an NFT, it’s important to understand the basics and how they relate to crypto wallets.

What is a crypto wallet and why is it so important to NFTs?

A crypto wallet is a digital storage system that allows you to hold, receive, and send cryptocurrencies. It’s a type of hardware or software that stores your private and public keys and acts as a hub between your different digital wallets.

An important distinction to make between a crypto wallet and a digital wallet is that a crypto wallet is specific to cryptocurrencies, while a digital wallet can be used for any type of asset.

Another important thing to understand is that there are several different types of wallets. A hot wallet, for example, is one that’s connected to the internet and can be easily accessed by hackers and is not recommended for long-term storage of large amounts of value. A cold wallet, on the other hand, is one that’s not connected to the internet and is only accessible by your private keys stored in the wallet.

Know What You're Getting Into

If you’re still in the planning phase for your first NFT, you may be wondering what you’re getting into. Keep in mind that NFTs are still in their infancy and the technology and the regulatory framework to back the assets is still being figured out. Because the regulatory framework is still being worked out, there are still a lot of grey areas that need to be addressed to ensure the safe and proper implementation of NFTs.

While many think that NFTs are a crystal-clear concept, the truth is that many questions still need to be answered.

Right now, the most important one is: What are the risks involved in creating and issuing an NFT?

Understand The Risk Involved

The first thing that comes to mind when you think about creating a NFT is the risk involved. After all, NFTs are completely decentralized and decentralized systems are always prone to risks.

There are different ways in which you can mitigate the risks involved in creating NFTs. One way is through the use of a trusted third party.

This could either be a start-up that’s well-established in the asset space or a more established agency that’s been around in the blockchain industry for a while. If you choose to go this route, make sure that you conduct your due diligence and look for a company that’s established and has a good track record.

Take Note of The Laws Guiding NFTs

If you’re new to the world of blockchain and NFTs, it’s easy to get caught up in the excitement of creating your first NFT. However, it’s also important to make sure that you understand the laws related to NFTs and how you can protect your assets.

Certain laws should be taken into consideration when creating an NFT.  Copyright, creative commons and intellectual ownership rights are a few of the legal elements to be factored into consideration.

Consider The Best Approach To Safeguard Your Wallet

If you’re planning on creating a blockchain-based NFT, it’s important to consider the best approach to safeguarding your wallet.

The most common approach is for the company to create a cold wallet that’s stored offline, and then store the keys in a hot wallet.

Another way is to simply store the keys in different software that’s connected to the internet. However, make sure that you perform your due diligence and choose a third party that’s professional and reliable.

Have A Budget In Place

You sure wouldn’t want to be overtly excited that you commit all your funds/income to NFT investment due to the hype on what others have profited from it. Be intentional about your investment and put in funds that you can bear to risk. Remember that in everything diversification is key if risk will be mitigated substantially.

Bottom line

When you’re creating a blockchain-based NFT, there are a number of factors that you should consider before saying yes. Make sure that you understand the risks involved in creating an NFT, take note of the laws guiding NFTs, and have a budget in place to protect your assets.

Investing in Stocks for Beginners: The Ultimate Guide to Investing With No Finance Background

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Stocks and investment can seem intimidating to the uninitiated. Even for those with a general understanding of the markets, the terminology, and the concepts behind them, the process of putting together a well-diversified portfolio can seem like a minefield.

If you’re reading this, then you’re probably looking to get started with investing, but you might need a little help navigating the choppy waters of the Stock Market. Luckily, you’re in the right place. Investing can be a complicated topic, but not in the way you might think.

If you’re looking to get started with investing but don’t know where to begin, then you can continue perusing below contents. In this article, we’ll take you through everything you need to know about investing before you get started.

What does Investing in Stocks Mean?

Stocks are an investment; they are not a bank account. You are not lending money to anyone or receiving a return on your investment. There is a certain level of risk involved in all investments, but there is also a certain level of return that comes with that risk.

Stocks are a contract between an investor and the organization that is offered it in the form of a share of ownership. The ownership of a company is transferred via stock certificates or via a stock exchange.

You are purchasing a share of a firm whenever you invest in it. In exchange, the company promises to give you profits, which is known as dividends. The portion of the profits that you get as a dividend is known as a dividend yield.

What you need to do to start Investing in Stocks

Stocks can be bought in a number of different ways. Asset classes, funds that invest in a variety of equities, mutual funds that pool money from many people to buy a big number of stocks, and exchange traded funds are all options. You can purchase individual stocks via a brokerage account or via a mutual fund. The brokerage account method is the most common way to purchase stocks.

You can go with a low-cost brokerage for a tax-advantaged portfolio or use a robo-advisor (online investment advisor) like Personal Capital or Trove. You can take advantage of a number of free resources to build a diversified, low-cost portfolio. Having a diversified portfolio is imperative and judicious implementation of the steps enumerated below will be handy.

1a. Make a decision about how you'd like to invest in the stock market. Many options exit on how you can start investment in stocks. You may adopt the ‘do it yourself approach’ whereby you opt to handpick stocks by yourself. Doing this will entail that you gather technical, fundamental and financial statements analysis techniques so as to ensure you don’t make investment decision based on sentiment.

 1b. Based on your outlined investment objective, you may engage the services of experts or brokerage firms to carry out the investment for you. Robo advisors may be deployed to ensure optimal maximization of your investment.

 1c. Investment may be initiated through your employer if you are employed. There may not be access to individual stocks for you but small contributions for accessibility to stock mutual fund is tenable in making room for regular investments with the long-term position in mind.

 2. Select and open an investment account. This is necessarily important as you will need a platform for buying and selling of stocks of interest to you. The account opening can be done by a Robo Advisor or a Brokerage Account. The decision to opt for any of this account opening type has to hinge on cost of brokerage commission, benefits in terms of assistance with information and knowledge sharing and proven track record. If you do not want to lean on doing most of the investment activities personally, then you might consider Robo advisor.

 3. You need to know the difference between investments in funds and stocks. Stocks entails investment in company stocks individually while funds involved pooling of funds together: this makes room for smaller investment amounts through mutual funds or exchange traded funds.

 4. Determine your budget for the investment project. Setting your budget for this project will depend on your chosen investment type, your income level and your attitude towards risk. A safer advice for beginner with meagre income is that they look towards funds investment. That said, diversification is also key, hence there should be a mix with the larger chunk of your money going into funds while the rest is channelled into stock. That is, an 80/20 rule.

 5. Maintain control of your stock portfolio. Managing and maintaining control of your portfolio is not all about checking your investment every minute and engrossing yourself with fear. Yes, you need to periodically check in to see what’s going on but the real deal is to look at your circumstances and then position your investment in a way that it is safe with and on low risk. That is why diversification of your portfolio across industries is imperative. You also need to keep yourself abreast of vital information so that you can take proactive action.

6. Take a long-term position. Embrace the focus of investing for a long term. Overtime, Stock investment have shown to be viable with this ideology. Despite whatever happens, the long-term average may be favourable for you.

The Different Types of Stocks

There are a number of different types of stocks that you can invest in. They range from stocks that are very safe and conservative to stocks that are very risky and volatile.

You’re going to have to decide which type of stocks you want to invest in. If you’re just getting started, you’re probably going to want to stick to the safer end of the spectrum.

The following are some of the most common types of stocks:

Utility Stocks: A utility stock is a somewhat safe bet because it is supposed to provide consistent and predictable dividends. They are usually less volatile than other stocks but provide lower returns.

Tech Companies: There are risks inherent in different sectors but most tech companies have shown tremendous potentials for growth. Amazon, Microsoft, Netflix, Apple Cisco Systems all show growth potentials.

Biotech and Medical Stocks: Biotech and medical stocks are risky because they often deal with new and experimental drugs. These stocks have a very high risk of failure and are not for the faint of heart.

Energy Stock: Energy stocks are however tricky because they are frequently composed of a single commodity, such as oil, gas, or coal. They are frequently vulnerable to price fluctuations.

Gold and Silver Stocks: Gold and silver stocks are also known as commodity stocks. They are often very volatile, but they also offer the potential for higher profit margins in a rising market.

How to Buy Stocks

There are a few ways to buy stocks. You can purchase shares on a exchange, you can purchase shares on an over-the-counter (OTC) market, or you can purchase shares with a broker.

Purchase Shares on an Exchange: The most common way to purchase stocks is on an exchange. You can find a list of all the major exchanges at InvestingStocks.com. One thing you need to keep in mind is that most brokerage firms will not allow you to trade stocks unless you have a minimum amount of money in your account. Make sure you have at least that much in your account before you purchase your first stock.

 The 3 Most Important Lessons About Investing in Stocks You Need to Know

There are a lot of misconceptions about investment in stocks out there. Here are the 3 most important lessons you need to know about stocks:

• There really is no such thing as a perfect statistic. Different players in the stock business both the highly experienced and beginners have various ways of analysing stocks and drawing conclusions. There is no quintessential number that delineates bad and good stocks. There are always fluctuations and volatility in prices is real.

•  Nothing is completely sure and rubberstamped. Most predictions and analysis do not completely turn out as predicted, even the ones done by highly placed professionals. Yields, dividends and prices of stocks may swing either way. Strategies employed to mitigate on this is the best way to go especially when long term position is factored into consideration.

•  It is a truism that buying low and selling high is a sure way to making profit. This translates to the volatile nature of the stock market. The bullish nature at some period in time does not permanently persist. Knowing when to go in and take position is vital if the objects of investing activities are to be met.

Conclusion

Stocks are an excellent way to build wealth. The more stocks you own, the better your investment portfolio will be. Owning a small amount of a few different types of stocks is better than owning a large amount of one type of stock.

There are a lot of myths and misconceptions out there about investing in stocks, so make sure you’re staying informed so you can make the most of your money.

Seven Steps to Managing Your Money and Avoiding Debt

                                                                                             Image Credit:Monstera in pexel.com

You might be in debt. Or you might just be getting your hands on your first credit card. Or maybe you’ve got a little debt here and there, but nothing that’s getting you down. Whatever your situation, you face the same challenge: You want to manage your money so that you never get into debt again. But how can you do that? It isn't as difficult as you may believe. With a few simple changes to your spending habits and strategies for getting out of debt, you can manage your money and avoid getting into debt again. Here are seven steps to managing your money and avoiding debt.

Step 1: Track All of Your Money

If you want to know how much money you have, where it’s going, and how much you can safely spend, tracking your spending is a fantastic way to start. If you’ve never tracked your money before, you should get started as soon as possible. There are a lot of online tools to choose from, and many of them are free. Some of the best online tools to help you track your money include: Mint: This web app will help you keep track of your spending, set financial goals, track your progress towards those goals, and even send you alerts as soon as your balance falls below a certain amount. You’ll have to provide your own secure account, but it’s easy to set up. If you have a smartphone, you can also use their app. You might even want to sign up for their premium service, which offers more insights, tools, and security.

Step 2: Keep An Eye Out For impulse Buys

One of the biggest mistakes that people make when they don’t have enough money is to make impulsive purchases. These are things that you want, but you don’t really need. Or you have the money to spend, but you just really want to have it right now. When you don’t have the money to buy something, your urge to buy it is way stronger than it would be if you had the money to buy it. So the trick is to keep an eye out for those kinds of purchases and not make them in the first place. There are a few options for accomplishing this. First, before you make any big purchases, write them down. You can either write them down in a notebook or use the online tool I mentioned above. This will help you remember not to buy the things you wrote down, as well as make it easier for you to track your spending.

Step 3: Be Realistic About How Much You Can Save

You don’t have to have a ton of money saved up to avoid debt, but you do need to have a little bit put away. The truth is that most of us don’t have enough money saved up to cover a massive expense like debt. This is one of the biggest challenges that people face when they want to get out of debt: They don’t have the money to pay off their debt, but they don’t have the funds saved up to cover the debt either. So how do you manage your money so that you never get into debt again without having a ton of cash saved up? The answer is that you need to be realistic about how much you can save. The most important thing is to set a goal. If you want to get out of debt, then your goal should be to have enough money saved up to pay off your debt when you are an adult. If you want to pay off your debt quickly, then you should aim to have enough money saved up to pay for about half of your debt in one year. And if you want to get out of debt even faster, you can aim to have enough money saved up to pay for about one third of your debt in one year. Once you have a goal in mind, it’s easier to plan your money so that you never get into debt again.

Step 4: Set Up A Debt repayment plan

If you’re like most people, you have a plan for how you’ll pay your bills when you get them. But do you have a plan for how you’ll pay for your debt? Some of the best ways to avoid debt and get out of debt quickly include setting up a debt repayment plan. A debt repayment plan is when you put a little bit of money aside every month to pay off your debt. The nice thing about a debt repayment plan is that it’s not difficult to set up at all. You don’t even have to get approval from a third party like a lender. In fact, many credit unions will even let you set up a debt repayment plan without even telling your creditors. It’s easy to set up a debt repayment plan if you just start writing down how much you’ll be saving every time that you incur a new debt. So if you have a credit card debt, put $50 in a savings account every time that you pay that debt. You can track your progress on a debt repayment plan online through sites like Mint.

Step 5: Bump up the savings rate

Once you’ve set up a debt repayment plan and started putting money away to pay off your debt, there’s only one thing left to do: Increase the savings rate. The more money you save, the less debt you’ll have in your lifetime, and the less chance that you’ll ever have to get a credit card again. So the only question is this: Where do you start? The answer is that it really depends on how much debt you currently have. If you have a small amount of debt, the best thing to do is to set a goal to pay off a specific amount of debt by a certain date. For example, if you have $300 of debt, you could set a goal to get rid of $50 of that debt by the end of the year. Or you could set a goal to pay off $200 of your debt by next spring. If you have a larger amount of debt, then it makes more sense to bump up your savings rate a little bit at a time. The best thing to do is to start by setting a goal to save $20 every week. Once you’ve done that for a month, bump up your goal to $30, and so on.

Step 6: Don’t rely on credit cards to save you

One of the most common questions that people ask when they want to get out of debt is whether or not they should use credit cards to help them get out of debt. The answer is that it really depends on your specific situation. If you have a low limit credit card that you only use for emergencies and you pay it off every month, then using that card to save for big purchases makes sense. If, on the other hand, you have a credit card with a $5,000 limit that you’ve been using to make almost all of your purchases, then using that card to save is a bad idea. Instead, you should negotiate a lower interest rate on your credit card and start making payments. The best way to do this is to make a list of everything that you owe on your credit card and call your credit card company. Explain to them that you want to get out of debt, and ask them for a lower interest rate.

 

Step 7: Estimate how long it will take to get out of debt

One of the best ways to manage your money and avoid debt is to estimate how long it will take to get out of debt. This is important because it gives you a deadline to work towards. If you know that you have a year before your debt is due to be paid off, then you have something to look forward to. And by setting a goal to pay off your debt in a certain amount of time, you’ll be more likely to achieve that goal. The best way to get an estimate is to plug your income and your debt amount into a debt repayment calculator. Once you have an estimate, you can go on to the next step which is to make a plan to get out of debt.

Conclusion

Managing your money and avoiding debt isn’t as hard as you might think. It’s a simple process that involves taking small steps to get your financial act together and following a plan of action. In order to win and change the habit of being in uncontrollable debt, you have to be intentional in applying the above stipulated steps. Make it a daily routine to always take a look at your personal finance plan so that you will not veer off track.

 

 

A Look at the Indicators That May Prove the Future of Cryptocurrency

                                                                                            Photo by Kanchanara on Unsplash

The future of cryptocurrency has become a staple of popular discussions and mainstream media coverage in recent months. In the lead-up to the 2017 bull run, many predicted that the industry was about to take off. Now that the dust has settled, what can we say about the future of cryptocurrency? Presently, it is too early to tell. While there are definitely positive long-term trends, the future of cryptocurrency is still very much up in the air. To get a better idea of where things are headed, let’s take a look at a number of the most important indicators.

Regulations are Coming

As soon as we begin to see a significant increase in the number of Initial Coin Offerings (ICOs), the SEC will take notice. The number of investors involved in cryptocurrency markets is still relatively small, which makes it easy for bad actors to take advantage of the crowd. Once the SEC realizes that a large number of people are getting involved with ICOs, they will put out statements about it. They have already cautioned investors about some of the risks involved with ICO investing. In the future, we should see stricter regulations, which will make it harder for fraudsters to exploit the ICO space.

 Although global authorities have already been engaged on analyzing vulnerabilities and effective policy solutions to the proliferation of cryptos, there seems to be no inclusive and integrated regulation of cryptocurrencies. Monetary authorities and regulatory agencies throughout the world are now keeping tabs on this rising trend. Countries ranging from China to El Salvador have begun examining and enacting various regulatory solutions, despite having a shared goal of preserving their financial systems and fostering development and economic progress.

Although some countries, like as India, have modified their laws, others, such as Liechtenstein, have offered customized approaches. Some other strategy, which appears to be favored by the EU and the United Arab Emirates, is to create wholly new regulators to manage with the industry as a whole.

ICOs are Becoming Popular

We are starting to see more widespread adoption of cryptocurrencies in general. This is likely to continue over the next few years as the market matures. More people will want to get involved with cryptocurrencies as they become more popular. This will drive demand, which will likely cause prices to rise. At the same time, more established investors are looking at ways to get exposure to the cryptoasset market. This might result to an increase in the number of professional investors in the future. As more people get involved with ICOs, it will make it easier for them to get approval from financial regulators. This could increase the number of ICOs that get funded in the future.

 Institutional Investors Are Getting Involved

As soon as the market started to become legitimate, a few large investment firms began looking into ways to get involved. Currently, they represent only a small percentage of overall investment. They have shown great interest, however, and are likely to increase their exposure in the future. More institutional investors means an increased risk of price manipulation and other unethical practices. All of this raises important questions about how best to regulate the industry. At the same time, it is important to remember that many institutional investors also drive long-term growth.

Bitcoin is the Industry leader

Bitcoin is the classic example of a cryptocurrency that is leading the way. More than anything, this is what will determine the future of cryptocurrency. If the price of Bitcoin keeps rising, it will draw in more people who want to get involved with it. This will help to drive demand, which may culminate to increased adoption of other cryptocurrencies in the future. If people see that Bitcoin is a good investment, they may be more willing to give other cryptocurrencies a shot as well. At present, Bitcoin is exhibiting some very healthy long-term growth. This may translate to even more growth in the future.

We have all heard of Bitcoin, the largest cryptocurrency by market cap. While all these other altcoins - or alternative coins - may, at present, be marketed to and track fundamental drivers, Bitcoin’s investment value has been growing steadily and will likely continue to do so as its liquidity becomes more prominent. It is important to note that the more comprehensive better asset line – one that includes both Bitcoin and Ethereum – is showing much greater returns than any of the individual asset-tropes.

Other Cryptocurrencies are Exhibiting Strong Growth

There are countless other cryptocurrencies that are already well on their way to becoming major players. Some of these cryptocurrencies are already experiencing very strong growth. Over the next few years, it is likely that we will see many more. This is great news for cryptoinvestors. It means that there is plenty of opportunity to find new and profitable investments in the growing cryptoasset market. One only has to look at the number of new cryptocurrencies that have been introduced over the past few months to see how quickly things are moving.

Cryptoassets as a whole are Evolving

At this moment in time, we are in the very early stages of the cryptocurrency revolution. This revolution is still in its infancy, which means that we can expect tremendous volatility. Long-term growth, however, is likely to be very significant. Cryptocurrencies are still very much in their infancy, which means that we can expect them to change a lot over the next few years. This is especially true when we look at the long-term growth prospects of different cryptocurrencies. As time goes on, it is likely that we will see the cryptoasset market evolve into something more stable and mature.

 More than a third of the global financial system is now powered by blockchain technology. It is only a matter of time before regulators realize this and begin to offer more positive regulation. When they do, it will be a game changer for the industry. It will allow cryptocurrencies to reach their true potential, which is to become a legitimate form of money.

7 Forex Trading Strategies to Help You Avoid Losses

                                                                                               Image Credit: Pixels.com

Foreign exchange (or forex) trading is a risky activity that can lead to massive losses as well as incredible gains. While the former is reality for many traders, the latter is within the reach of almost anyone who is willing to learn and practice sound trading strategies. If you’re just getting started with forex trading, then you’ll undoubtedly experience losses as well as some small profits. However, if you’re looking to hedge your bets and significantly reduce the risk, then you should consider implementing one or more forex trading strategies. Here are 7 strategies that will help you avoid losses and increase your chances of bringing home profits.

Use a Forex Trading Strategy

First and foremost, regardless of which forex trading strategies you choose to implement, you must remember to use them. You can’t sit back and hope to magically make money through forex trading by just trading and hoping for the best. If you want to turn a profit, then you must have a trading strategy.

If you choose to trade manually, then you can take advantage of gap openings and stock transitions by reading the news and chart analysis, as well as following notable forex gurus on different platforms to learn from their strategies to enable you come up with yours. However, if you’re willing to employ forex trading strategies, then you can significantly reduce your risk while making more consistent profits.

Hire a Forex Analyst

When it comes to developing and executing a forex trading strategy, hiring a forex analyst can be a very valuable resource. A forex trader’s job is to look at trends, analyse data, and then interpret that data so that investors and traders can make better decisions. An analyst’s job is to break down the information so that the average investor can understand what is happening.

An advantage of using a forex trading strategy is that it can help you to avoid making mistakes that could lead to losses, as well as costly complications. With a strategy in place, you can simply hand over your trades to a forex analyst and let them handle the execution. If you want to take control, then this might not be the best option for you.

Use a Forex Robots

Although hiring a forex trader can help to avoid trading mistakes, it is still important to be aware of the various risks associated with forex trading. One of the most significant risks is losing control of your trades. As a result, many traders use forex robots to reduce their risk while increasing their returns.
A forex robots is a piece of software that automatically executes trades based on pre-programmed trading strategies. There are a variety of forex robots that you can choose from. However, most forex robots can be split into two categories – MetaTrader and quantitative. MetaTrader is the name of the company’s proprietary trading platform, and quantitative robots usually use technical analysis to make trading decisions.

Don’t trade too often

One of the most significant risks of forex trading is becoming emotionally involved with the trading process. You must approach trading as if you were playing a sport, and you must trade with the same cool headedness and clear-headedness that you use during training.

If you become too invested in the success or failure of a particular trade, then it is much more likely that you will make a mistake. If you make too many mistakes, then you could end up losing more than you would have if you’d simply sat back and done nothing.

You must avoid getting emotionally involved with your trading if you want to avoid losses. Simply trading too frequently can result in an overreaction that leads to a loss. However, trading too infrequently can also have an opposite effect, as it can lead to underreaction and stagnation.

Always use Forex trading strategies

While it is important to avoid getting emotionally involved with your trading, it is even more important to use forex trading strategies. If you don’t employ forex trading strategies, then you could easily end up making a number of mistakes that could lead to large losses.

One of the most significant forex trading strategies is to have a trading plan. A trading plan is essential because it helps you to avoid making mistakes. Having a trading plan can also help you to get the most value from any given trading strategy.

If you’re just starting out with forex trading, then you should use a trading plan that is based on trading guidelines. Trading guidelines help you to avoid making common beginner’s mistakes, such as not knowing when to hold and when to offload or sell.

Day trading – Is it for you?

Many would say that day trading is the ultimate forex trading strategy, as it requires the most skill and knowledge to be successful at it. However, it’s important to note that day trading carries a significant amount of risk.

First and foremost, you must have the financial resources to deal with the high costs associated with day trading. A large portion of these costs comes from the amount of capital needed to be on the lookout for potential opportunities. Unless you are willing to invest a significant amount of money in the forex market, then day trading is unlikely to be an option for you.

However, even if you have the financial resources to successfully day trade, there are still risks. You could end up losing a significant amount of money if you make a number of serious mistakes, such as using leverage, trading too frequently, and not diversifying your portfolio.

If you choose to day trade, then you must be willing to accept the risks associated with it. Remember, even if you have the financial resources to back your trades, you could still lose them.

How to spot a scam FX broker and avoid them

It’s easy to get intimidated when considering the wide variety of forex brokers that are out there. Unlike stock or mutual fund brokerages, forex brokers don’t all operate under the same regulatory guidelines.

This means that you need to do your due diligence before choosing a forex broker. You want to make sure that the company you choose to do business with is legitimate, as well as trustworthy. You also want to make sure that the company is actually selling forex, and not some other commodity.

Here are some questions that you need to ask yourself to determine if a forex broker is a good fit for you. Are they regulated? – Brokers that are not regulated by a government agency are considered to be high-risk. These are the brokers to avoid.

Bottom line

Finally, when you’re ready to get started with forex trading, then you must remember that it’s a process. You’re going to make mistakes, and you’re going to lose trades. However, you can significantly reduce the risk of losing your money by following the advice and examples provided in this article.