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And what a great analogy ’string up’ is, because after all those months of paper trading winners are replaced with real money losses, that is exactly what you will feel like doing to yourself.

The Trading Psychology Viewpoint

No discussion about trading, or the consideration to begin trading, can be done without a harsh realization – the vast majority of all traders lose.  

It is said that the reason that most traders lose is because they are not psychologically prepared to trade, that is they are not prepared to accept financial risk for something of which they have no control over the outcome. Trading is much more of a psychological problem then a methodological one, only the traders who have first accepted this have a chance of being consistently successful traders.  Without an understanding of trading psychology and the various issues that circumvent method, there will be virtually no chance to overcome the fear, confusion, and despair that can be inherent in trading.  Ultimately, after a series of consecutive losses, method becomes replaced with a feeling that it is impossible to do anything right; if for no other reason than this situation, trading psychology is more critical than trading method. (more…)

Surveys show that companies waste an average of 20% of their payroll on bad meetings. And that’s just the beginning of the problem. Meetings keep people away from the tasks they were hired to perform — tasks that make money for the company and keep the business ahead of the competition.

In fact, if people waste time in meetings, you can conclude that they are doing the wrong thing while they are in a meeting. (more…)

Communication is one of the basic functions of management in any organization and its importance can hardly be overemphasized. It is a process of transmitting information, ideas, thoughts, opinions and plans between various parts of an organization.

It is not possible to have human relations without communication. However, good and effective communication is required not only for good human relations but also for good and successful business.

Effective communication is required at various levels and for various aspects in an organization such as – (more…)

The top Forex traders tend to keep their trading systems to themselves. Do not expect any top traders to be online revealing all the details of their systems to the world, what you can find out. On the other hand, the top secret of what you need if you hope to become a successful trader yourself.

Here are the essentials that you must have if you want to join the top currency traders group or just become a financially free Forex trader:

Invest Capital and Risk per Trade (more…)

Many of us would like to have money in savings. Whether it’s for an emergency fund, a once-in-a-lifetime vacation, quitting a job, or simply creating a bit of a buffer between paychecks, having some money set aside can make a huge difference in our ability to reach for our dreams.

But when you’ve got a long way to go before you meet your financial goal, and when – frankly – a dollar spent now seems to provide a lot more pleasure than a dollar saved, how can you make sure you’re motivated enough to put money aside on a regular basis? (more…)

What is it that makes people successful and I mean really successful compared to you or me? Are they smarter or do they work harder? Are they risk takers or have powerful and influential friends?

The financial newspaper Investors Business Daily (IBD) asked these same questions a few years ago and started a multi-year search for the answer. They studied industry leaders, investors and entrepreneurs to understand the traits they all had in common that contributed to their success. Reproduced here is their list of 10 Secrets to Success along with my commentary on each no-so-secret, ‘secret’. (more…)

THE BOTTOM LINE: Difficult people can make your work day less enjoyable. With the right strategies, you can learn to deal with them effectively.

If you have to work with difficult people every day, you probably dread going to work each morning. What’s more, you might get so stressed that you can’t concentrate on the job. (more…)

TRADING: A MIND GAME

You must change your mental attitude first from a normal person to that of a speculator. Almost all traders I have met, except a few successful ones who really made millions and billions trading in the market, simply waste all their time trying to learn the easiest part in perfection, like about how to read data and charts, and trying to perfect entry and exit skills, etc. Trading is a mind game and without having a right frame of mind, it is a losing game even before it starts. Training a trader?s mind is the first step for any successful trader but almost all new traders neglect that part and that explains why more than 95% of traders are a failure in the long run.

Acquiring the knowledge of the market is not difficult for anyone with average intelligence after a few years of hard study in the market. But it is neither the level of intelligence nor the knowledge that decides the outcome of the market operations of a trader. It is the decision making process that is so hard for most traders to overcome and that is the main reason for a success or a failure for all the traders. Some find it easy to make decisions and stick to it and most find it so hard to make decisions and stick to it. Unfortunately, any decision making process in trading is a pain-taking process and humans tend to avoid pains and go for pleasures even if for temporary ones. Assuming one has acquired enough market knowledge and acquired one?s proven trading system (this is the second most important element of success in trading, in fact. An edge in any system is based on the quality of info one has, charts being only an info of secondary quality not the best one) (more…)

Country Capital Currency

Afghanistan Kabul Afghani

Algeria Algiers Dinar

Australia Canberra Australian Dollar

Austria Vienna Schilling

Argentina Buenos Aires Austral

Belgium Brussels Belgian franc

Bhutan Thimphu Ngultrum (more…)