What Madonna Can Teach You About Diversification

Wikipedia – Jan 2014

‘Madonna is known for continuously re-inventing both her music and her image and for retaining a standard of autonomy within the recording industry’

You may have heard the proverb – ‘do not put all of your eggs in one basket’.

Having a variety of trading strategies and investments may just be the key for ensuring that you are successful in reaching your financial dreams and limiting the potential for any losses.

Diversification in trading term is the act of introducing variety, investing in several kinds of securities.

Making changes to the trading strategies you currently use is important on your quest. Change can sometimes be difficult to grasp because generally, we are creatures of comfort; however, a clever way to navigate yourself through the change process, is to think about all of those potential opportunities which could materialise into your next successful trade story. One thing is for sure, you will never know, unless you try.

"If you do what you've always done, you'll get what you've always gotten."

Tony Robbins

Finding new financial trading strategies may pose a big challenge for you. But there are a number of resources available online where traders actively share their knowledge and experiences, free of charge, which may be an effective approach to assist you with making decisions and getting the trading results you want.

Dedicate time to research, learn and apply new strategies to your current portfolio. If you are not willing to research and try something different from what you normally do, in twelve months if your portfolio has not grown there is only one person to blame; and that person is you!

So you can get going now! There is no time like the present. Happy Trading.

Four Essential Tips - Building Your Financial Portfolio In 2014

The beginning of a New Year always seems to be a catalyst for many people to change or improve an aspect of their life. Whether you wish to improve your career prospects, lose weight or find that dream relationship – there are many examples which can be listed.  Just do a search online and you will find an abundance of tools and resources in e-book format and online training available from specialist service providers, offering ‘the solution’ for your requirement or need. 

Similarly, as a financial trader there may be aspects of your trading you would like to improve in 2014. We believe that reflecting on your trading strategies and results obtained in 2013 will be a good starting point to help you ensure that you are prepared and equipped to successfully build your financial portfolio in 2014. 

For example, do you have a problem staying on top of everything? Then it may pay you to remember the following quote ‘a failure to plan, is a plan to fail’  Financial trading is a journey, no quick fixes, it takes drive, determination, ability to analyse, take risks and make decisions rapidly. Bear this in mind as you continue on your quest.

‘The team at Forex Maximiser have come up with four easy to remember points aimed with helping you reflect where you are and deciding where you want to be’

1. Set realistic financial goals for your portfolio (Remember your goal can be too little or too large). If your goal doesn’t make you feel challenged or if it makes you feel overwhelmed then it is very likely that it needs to be changed. Setting realistic goals are instrumental in ensuring that you can plan where you are going, effectively; goals also help keep you focussed and as a result you are more likely to make worthwhile decisions about potential trades.  An easy principle to remember is simply; the more accurate and profitable trades you complete, the closer you get to reach your financial dream;
2. Review your financial goals against your trading results. It is advisable for you to review your overall goal against your progress. Put time aside periodically so you can ‘review the overall picture’ and make changes where necessary. For example, if you have almost reached your financial goal, then you can increase the amount you wish to achieve. Similarly if you are losing trades and your profit is decreasing, having an exit plan and sticking to it is just as important as having a profit plan;
3. Get independent advice and opinions. If you are using an online broker, then you should be able to get independent advice, on a no cost basis.
   Additionally, ‘picking the brains’ of any friends who work in the financial sector can be of benefit at this time
   Specialist blogs and forums serve as a source of free and sometimes unrivalled information and insight to the latest trends and commentary from other worldwide traders, giving you a global perspective before you make any final decisions.
   Knowledge is Power; this power provides you with opportunities to become a better trader and increase your profits; and
4. Training. The fourth and final point brings to mind the further learning which you can undertake to increase your knowledge of new trading strategies or of the latest techniques; again a good starting point may be advice from your online broker or from friends who work in the financial trading sector.
   There are also a number specialist blogs and forums where traders from around the globe share their ideas and opinions with like minded individuals, free of charge.
   Finally, you can also search online for specialist trader training companies, who offer courses covering techniques and principles at beginner, intermediate and advanced level.
   Forex Maximiser is an online resource featuring the latest trading offers, resources and training to help financial traders and investors reach their financial dreams. Visit our website at http://www.forexmaximiser.com
    
   The Forex Maximiser website contains links to other sites. Please be aware that we are not responsible for the privacy practices of such other sites. Therefore we encourage our users to read the privacy statements of each and every web site that collects personally identifiable information. By viewing any material or using the information within this website, you agree that it is an offer to trade or purchase educational material and you will not hold anybody responsible for loss or damages resulting from the content provided here by “Forex Maximiser”. Trading foreign exchange carries a high level of risk and may not be suitable for all investors as your trading may result in a substantial or complete loss of funds and there is no guarantee of specific results; your results can vary therefore you should not invest money that you cannot afford to lose, you can also seek independent advice from an independent Financial Adviser.

Four Important Tips To Help You Select The Right Broker

As a financial trader one of the most arduous challenges you may experience is selecting the right broker.  There are four important points for you to consider before selecting and making a final decision including ensuring that;-

• Firstly, the broker is regulated – regulation gives you reassurance that the broker has specific guidance and follows a set of rules which minimises the risk that you will be exposed to financial irregularities and/or fraudulent activity;

• Secondly that the Broker has sufficient tools and resources to help you make timely and informed trading decisions. Such tools and resources include a personal account manager, availability and types of customer service, market commentary, mobile trading and relevant depositing methods.

You will find in most countries where financial trading takes places that there will be some form of regulatory body.  Most brokers will have details of their regulation on their website; however in the event that no details are visible, consider contacting a representative from the company using the contact details on their website or using their live advisor service to verify. Alternatively, by undertaking a simple search engine enquiry, you should be able to find details of the relevant regulator(s). Some of the most popular regulators include the Cyprus Securities and Exchange Commission (CySEC) and Financial Conduct Authority (based in the UK).

Thirdly, see what else current and previous traders are saying about the broker, request copies of recent testimonials and of course you can also use search engines online to view comments and conversations which may be recorded on specialist trading forums.


Finally, the fourth and final tip is about you. Deciding on your financial goals, reviewing and sticking to them or making other changes such as finding a new broker may be one of the hardest decisions you have to make along the way.  It is important to remember that trading is like a journey, and all journeys have a final destination – how you get to your destination may be time consuming or more costly based on the route that you take, but the important thing is that you focus, stick at it and do not be afraid to try new strategies along the way.