Tim Sykes
Editor, Penny Stock Millionaires

The 7 Steps to Success in Trading The secret list of rules you need to follow… My biggest regret in my trading career is taking so long to learn these… How to save yourself time and money…

Dear Penny Stock Millionaire, As many of you know, I am a self-taught trader… And as you may also know, that SUCKED! Doing it all by myself, I was forced to learn a lot the hard way, many cases of trial and error along the way and that fact is, in part, what inspired me to become the mentor to people that I never had. I didn’t have a mentor or a program like mine. But I wish I had. I probably would have made money a lot quicker and not made so many bone-headed mistakes if I had. But lamenting the past won’t change anything. Instead of complaining, I want to help you so that you don’t have to make the same mistakes I did! Here are seven pieces of advice that I’d like to offer new traders, positioned exactly where I used to be. #1. Seek out an education. The idea of just jumping in and starting to trade penny stocks might be tempting. You’ll figure it out as you go, right? Not so fast. I’m all for going for it, but take a step back before you do anything hasty. Remember, this is your money, and you don’t want to lose it. Before you trade, it’s smart to learn a bit about the process and theory behind trading so that you don’t lose your money in ways that could easily be avoided. You must educate yourself on trading in an applicable, real-life way. With my students, we progress into real advice and methods that you can put to work. I don’t want you to wait years and years to make your first trade, but I do want you to have an idea of what you’re doing before you dive in. #2. Have a willingness to learn. It’s best that you learn this early on in your career: as a trader, your education is never complete… meaning it will never end. Seeking out an education, as discussed in the previous point, is partially so that you can make educated trades. But that’s only the tip of the iceberg. But if you really want to be a longtime, successful trader, you’ll need to have a will and a desire to learn. This is something you basically want to turn on and never turn off. Keep reading, learning about the philosophies and methods behind successful traders, and stay interested in the world, in terms of not just finance, but everything else, too! #3. Know what you’re working toward. If you’re not working toward something as a trader, then your career will have little direction. So what are you working toward with your trading? What are your goals? When you’re new as a trader, you should have strong clarity on what it is that drew you to trading. Money, obviously. But, money for what? A newer house? A nicer car? A better quality of life? Really dig deep and figure out exactly what it is that you want to buy with all that money you’ll make. Tattoo that desire on your brain and think of it with every trade you make. It will help you stay motivated, which makes you a better trader. Having goals to stay committed to will keep you going when things get tough.

#4. Recognize your strengths and weaknesses. It’s important to be able to identify your strengths and weaknesses early on as a trader. Basically, the sooner you do identify them, the sooner you can streamline your trading. By recognizing your strengths, you can play to them, and adjust your study and trading schedule to suit what works best for you… Every trade and student is different, so it’s important to recognize this and adapt to whatever works best for you! By recognizing your weaknesses, you can either work around them or make a decision to become stronger in those realms. This might involve studying harder in certain areas, or taking the steps to remove bad habits from your daily repertoire and replace them with good habits. #5. Give yourself time. Patience is a virtue when it comes to trading. Don’t expect miracles (or millions) in your first week. It doesn’t have to take an incredible amount of time to start earning money, but don’t rush it. Let yourself discover what works and what doesn’t, and get your footing as a trader. Slow but steady wins the race when it comes to developing these skills. Don’t try to jump ahead, because there’s so much that you can learn along the way that can help you later. Giving yourself the room to learn and improve over time will take away a huge stressor from your trading career, and it will also make the journey more enjoyable. #6. Network, network, network. Creating a network is important for any entrepreneur, and traders are no different. Making friends with other new traders can create a positive support network and help you stay inspired. And making friends with traders who are further along in their career than you can give you insight and help you emulate their success. A mentor, too, should be part of your network; this is a trader who is further along in their career than you who takes it one level higher, acting as your adviser. Meeting with a mentor on occasion can inform your career, give you ideas, and help you know what career pitfalls to avoid. Moreover, creating a strong network is a great thing for new traders, as you never know what opportunities your connections might afford you in the future. #7. Learn to love trading. If you walk away with nothing else from this article, take this advice to heart… If you learn to love trading, you’re doing yourself a great service as a trader… the process and the journey is actually even more enjoyable than the rewards…the rewards are nice, don’t get me wrong, but learning to be self-sufficient is priceless. Even if I lost all my money tomorrow, I know EXACTLY what I must to do get it back so I’ll NEVER be down for very long, no matter what happens. It’s a good feeling. And I want you to have that sense of security, too. And remember, too many people suck at their jobs and don’t excel because they don’t truly enjoy it…doing something you hate is no fun. It makes the time crawl by, and it does nothing to improve your quality of life… don’t make that your future. But doing something you love makes time fly and makes you feel vital and excited about your day, and about life in general. As the old cliche goes, if you love your job, you never have to work… if you love trading, all the preparation you have to do won’t feel like work. If trading can become one of those things that you love, then your career will seem effortless and success will come to you far more quickly and more naturally. These seven pieces of advice are vital for new traders. I wish I’d had them when I was a new trader! So go forth! And don’t make the same mistakes I did. Regards,

10 ways to a finance career with no finance degree

By Troy Segal | Updated December 18, 2017 — 11:20 AM EST

1. Learn the Lingo 

Difficulty: Low

Impact: Low

If you are interested in a financial career, there's no excuse for not knowing Wall Street lingo. If you don't know the difference between dilution and dividend, or between NPV and DCF, consider learning financial terms and concepts by browsing the extensive dictionary of terms at sites like Investopedia or reading The Wall Street Journal.

Not knowing financial language may make it almost impossible to get past the preliminary interview stage for a non-financial graduate. That's because an interviewer will generally assume that an applicant for a finance position is knowledgeable about finance, regardless of his or her educational background.

2. Round off Your Education

Difficulty: Low to Moderate       

Impact: High

So what if you graduated with a degree in a subject other than finance? You can always redress the situation by taking relevant courses with an emphasis on finance or business at the undergraduate or post-graduate level.

At the undergraduate level, courses in economics, accounting or financial analysis are great options. Many post-graduates go for an MBA, since its substantial finance component serves to level the playing field between finance and non-finance graduates. If the MBA's stiff cost is a deterrent, other options such as enrolling in the Chartered Financial Analyst (CFA^®) Program are certainly worth exploring.

3. Enroll in Financial Boot Camp 

Difficulty: Moderate             

Impact: Moderate

Intensive courses by firms like Wall Street Prep and Training the Street can teach you valuable skills that are essential for a career in finance, such as advanced spreadsheet techniques and financial modeling. These crash courses are quite expensive, typically running to a few thousand dollars, but have the advantage of not requiring a long-term time commitment because they are typically conducted over a few days. One drawback is that, due to these programs' intensity, you may need to be already familiar with basic financial concepts to derive the maximum benefit from them.  

4. Expand Your Knowledge Base

Difficulty: Moderate                       

Impact: High

Relevant knowledge is not obtained only through a college degree. There are plenty of resources available, either through your local library or online, to deepen your financial knowledge. These resources may be free or available on a paid basis from course providers. Being self-taught in a difficult field like finance demonstrates a number of desirable attributes to an employer such as initiative, passion and drive.  

5. Use a Trading Simulator

Difficulty: Moderate                     

Impact: Low

A number of websites – including Investopedia – have trading simulators that can be used to construct mock portfolios. Using a trading simulator will force you to track the markets and keep abreast of market developments. This is a great way to impress a potential employer with your trading prowess, or at least your market knowledge, with very little investment on your part, aside from some time commitment.

6. Complete Industry Courses

Difficulty: High                      

Impact: High

Completing a relevant industry licensing course, such as that offered by the Canadian Securities Institute (in Canada), not only demonstrates your commitment to a career in finance, but also gives you an edge on the competition in terms of job readiness. This option may not be available in all jurisdictions, of course; for instance, in the United States, one has to be sponsored by a member firm or a self-regulatory organization to take most licensing exams. However, as of October, 2018, FINRA is creating into a new test called the Securities Industry Essentials Exam (SIE), which can be taken without sponsorship.

7. Maintain a Financial Blog

Difficulty: High               

Impact: Moderate

Starting and maintaining a financial blog is a great way to communicate your investment ideas to the world. It is an opportunity to convey to a potential employer a favorable impression of your diverse skill set, including financial acumen, communication skills and technological dexterity. This mode of self-marketing is most suitable for those who already possess a measure of these skills.

8. Link Up with a Mentor 

Difficulty: High                  

Impact: Moderate

Linking up with a mentor is another way of jump-starting a financial career. A mentor can be anyone in a position of influence who thinks highly of your capabilities and is willing to help you achieve your goals. Possible mentors include your favorite professor at college, a family friend or relation with a successful career in finance or someone you know in a professional capacity, such as a supervisor during a previous internship. Don't hesitate to approach a contact whom you think could help you in your job search.

9. Score a Meaningful Internship 

Difficulty: Very High                      

Impact: Very High

Scoring a summer internship still remains one of the best ways to lock in a prestigious full-time job in finance, as many Wall Street firms pick their new hires from the ranks of their summer interns. At the best business schools, an estimated one-third to half of MBA students go to work for their summer employer after graduation.

But since obtaining a paid internship in finance is likely to be very difficult for a non-financial graduate, one must consider other options such as an unpaid internship or volunteer work with a broker. The opportunity cost that arises from doing such unpaid internships or volunteer work may be offset in due course by the higher earning potential of a finance career.

10. Do Your Best to Get Your Foot in the Door

Difficulty: Very High    

Impact: Very High

Target HR departments for résumés, expand your job search to other locations, use your network to check for openings – in short, do everything you can to get your foot in the door of a financial institution. Scoring an entry-level position with a financial company, even in a non-finance role, may open doors to other career paths in finance down the line. (See "A Look at Entry-Level Careers in Finance" for details.)

The Bottom Line         

Some non-finance degrees are certainly in demand on Wall Street for specific tasks, including:

• Physics and mathematics for structured products, derivatives and quantitative trading
• Information technology for algorithmic trading and platform development
• Engineering, mining and sciences for sector-specific research analysis and investment banking

But for the vast majority of non-finance degree holders, getting a job in finance is likely to pose a significant challenge. This is more so because thousands of positions were eliminated by banks and financial institutions in the aftermath of the 2008 global recession. However, using a combination of the tips discussed above should enable a non-financial graduate to substantially improve his or her chances of launching a career in finance.

Tukang cuci ke usahawan global

Irfan Khairi

 

Setiba di Dubai jam 4.30 pagi selepas tujuh jam penerbangan, dari lapangan terbang antarabangsa Dubai, terus pemandu limo menghantar saya ke apartmen berhampiran Irfan Khairi Institute of Business Dubai.

Sememangnya saya suka mengambil penerbangan malam kerana apabila tiba di Dubai pada waktu pagi, saya boleh terus menghadiri mesyuarat dan temu janji selepas berehat sebentar di apartmen. Dengan cara ini, saya tidak rugi hari kerana perjalanan pada waktu malam. Umpama semalam di Kuala Lumpur dan hari berikutnya di Dubai untuk hari yang baru!

Di sini, saya tinggal di apartmen suite yang perkhidmatannya seperti hotel lima bintang. Setibanya di lobi apartmen pada jam 5.30 pagi, mata saya tertumpu pada seorang pekerja pencuci di lobi itu. Pekerja dari Filipina lengkap berpakaian seragam itu khusyuk mengilatkan lantai dengan mesin manakala alat cucian lain pula di sisinya.

Fikiran saya terus mengimbau kisah 18 tahun lalu - saling tidak tumpah dengan keadaan saya ketika itu. Sewaktu belajar di United Kingdom, saya tidak mempunyai duit mencukupi untuk mendalami dua ilmu yang cukup saya minati - ilmu motivasi dan perniagaan. Walaupun ditaja kerajaan, tajaan terbabit alhamdulillah hanya cukup untuk yuran universiti, tempat tinggal dan makan minum.

Untuk mendalami ilmu motivasi dan perniagaan, sememangnya di luar skop pembelajaran universiti. Oleh itu, saya perlu mencari wang lebih untuk mencari ilmu tambahan ini. Apakah caranya? Ya, saya bekerja sebagai seorang tukang cuci selama dua tahun sambil belajar.

Sememangnya bukanlah minat saya untuk menjadi seorang tukang cuci, tetapi tahu sebelum kita dapat melakukan apa yang kita minati, ada kalanya perlu lakukan apa yang terpaksa. Namun, dalam minda tersemat ini hanyalah permulaan saya untuk menjadi seorang usahawan berjaya satu hari nanti.

Pada masa itu, setiap hari selepas solat Subuh, saya berjalan kira-kira tiga kilometer ke pasar raya tempat saya bekerja sebagai tukang cuci setiap hari sebelum kuliah universiti bermula jam 10 pagi.

Kelebihannya, saya suka berjalan kerana mengambil peluang itu untuk bersenam! Saya masih ingat, pada tahun pertama tidak dibenarkan cuti sehari pun. Kalau hendak bercuti, perlu senyap-senyap berpakat dengan rakan pencuci lain untuk melakukan kerja kita supaya penyelia tidak perasan.

Maklumlah, ada kalanya perlu menghadiri kuliah lebih awal, ataupun perlu berjumpa rakan sekelas untuk mengendalikan projek kumpulan di universiti. Ada juga masanya saya berjumpa rakan universiti dengan pakaian seragam tukang cuci kerana mengejar masa! Pada mulanya, memang terasa malu juga tetapi apabila terjadi dua tiga kali, hilang terus perasaan malu.

Ada kalanya saya terfikir, keadaan itu juga memperbaiki diri saya sendiri. Saya tidak lagi malu dengan rakan mat salih dan pelajar lain serata dunia. Memakai seragam tukang cuci membuatkan saya lebih tabah, hilang perasaan malu dan berani menghadapi sesiapa sahaja!

Lain orang lain bicara

Bekerja sebagai tukang cuci selama dua tahun mengajar saya pelbagai perkara. Maklumlah, kita sebagai tukang cuci dipandang sebagai tukang cuci saja - pendatang luar pula. Dimarah dan ditengking penyelia satu perkara biasa. Tetapi, terpaksa tahan saja telinga kerana ingin mencari wang untuk menambah ilmu. Jauh di dalam hati saya tahu, ketika itu hanyalah pengalaman sementara untuk mengumpul wang sebelum mula mengejar cita-cita.

Ada satu ketika, sedang sibuk mengemop lantai pasar raya, saya tidak sedar bahagian belakang batang kayu mop terlanggar rak minuman berkabonat. Beberapa botol minuman berkarbonat jatuh pecah berkecai di lantai dan pastinya tindak balas air bergas itu menjadikan keadaan lebih teruk.

Akibat bunyi bising itu, penyelia pencuci lari bergegas kepada saya dan apa lagi, pastinya saya dimarah dan dijerit. Pelbagai kata-kata kesat turut dilemparkan kepada saya, maklumlah mat salih itu mungkin kurang tahap pendidikan, jadi kata-kata lucah saja terhambur dari mulutnya. Memang salah saya kerana lalai, dan saya terima.

Tidak lama kemudian, pengurus pasar raya pula muncul kerana terdengar kekecohan itu. Cepat-cepat saya minta maaf kepada pengurus pasar raya itu dan saya lantas mengeluarkan dompet dari poket belakang seluar dan bertanyakan kepada pengurus pasar raya, ‘Please tell me how much. I want to pay for the drinks’.

Kerana tahu salah saya tidak sengaja memecahkan beberapa botol minuman karbonat itu, saya pun ingin membayar ganti rugi kepada pengurus pasar raya itu.

Namun, balasan yang saya dapat amat berbeza dengan penyelia tukang cuci yang mengherdik saya. Pengurus pasar raya itu dengan bersahaja berkata, ‘Don’t worry you don’t need to pay. Accident happens. But are you OK?’

Bukan saja tidak mahu menerima wang, tetapi ditanya pula sama ada saya tidak tercedera kerana itu yang dirisaukan apabila terdengar bunyi botol pecah.

Ketika itu, saya dapat lihat betapa bezanya perangai manusia di depan mata saya sendiri. Seorang penyelia pencuci yang menengking dan mengherdik, seorang pula pengurus pasar raya yang mengambil berat dan memahami.

Sebagai manusia, perlu memilih cara kita sendiri. Pilihan bukan pada tangan orang lain, persekitaran, pangkat dan darjat, atau kenalan dan keluarga. Tetapi pilihan datang daripada diri kita sendiri untuk membentuk diri sama ada hendak jadi seorang yang baik atau sebaliknya.

Dua tahun saya bekerja sebagai tukang cuci tetapi itulah dua tahun yang paling banyak mengajar saya erti kesabaran dengan kerenah orang, juga sabar dalam mencari ilmu dan berusaha. Untuk berjaya, kita akan bertemu pelbagai kerenah manusia. Untuk berjaya, kita perlu mencari ilmu. Dan untuk berjaya juga, pastinya ilmu saja tidak cukup sekiranya tidak berusaha.

Acuan diri sendiri

Pagi ini, melihat pencuci dari Filipina yang sedang mengilatkan lantai, teringat saya 18 tahun lalu, saya juga pernah dalam keadaan itu.

Sebelum memasuki lif apartmen, saya senyum dan menegurnya ‘Hi, how are you?’. Dan pencuci itu pun membalas senyuman dan bertanya ‘Fine, have a good day sir!’ Pintu lif tertutup sambil dirinya terus memberi senyuman lagi pada saya.

Dalam hidup, kita tidak tahu di mana kita akan berada setahun akan datang, lima, 10 atau 15 tahun akan datang. Lima tahun selepas saya menjadi tukang cuci, alhamdulillah saya berjaya mencapai pendapatan RM1,000,000 daripada perniagaan Internet.

Kira-kira 10 tahun selepas menjadi seorang tukang cuci, alhamdulillah dapat mendidik dan juga memberi inspirasi kepada orang ramai di Malaysia dan melahirkan paling ramai usahawan Internet berjaya di Malaysia. Hari ini, 18 tahun selepas menjadi seorang pencuci, alhamdulillah tertubuhnya Irfan Khairi Institute of Business Dubai.

Jika ditanya kepada saya, apakah rahsia kejayaan? Jawapannya ada pada pengalaman yang saya kongsikan hari ini. Kejayaan perlu mempunyai kesabaran. Kejayaan perlu mempunyai ilmu. Kejayaan juga perlu diusahakan. Tiada jalan pintas. Tidak kira di mana diri kita berada satu masa dulu, masa depan kita di tangan diri kita sendiri, bukan orang lain.

Sentiasa rendah diri, tetapi jangan pandang rendah pada diri sendiri. Kita sendiri tidak tahu potensi diri kita sekiranya kita tidak terus berusaha mengejar matlamat. Bagaimana hendak mencungkil potensi diri?

Mulakan dengan matlamat dan berusaha mencapainya dengan ilmu. Anda akan lebih mengenali potensi sebenar dalam perjalanan terbabit. Ia bukanlah satu sasaran, tetapi satu perjalanan yang akan membentuk dan memperbaiki diri sendiri.

Hargai segala pengalaman yang kita miliki, tidak kira susah atau senang. Buangkan perasaan ego dan hormati semua insan. Sentiasa berdoa kepada Yang Maha Esa supaya apa kita usahakan diperkenankan dan bersyukur selalu kerana bersyukur itu akan membuka pelbagai pintu rezeki yang kita tidak sangkakan, insya-Allah.

Semoga perkongsian saya kali ini memberi manfaat kepada anda dan saya doakan anda juga akan mencapai apa saja matlamat anda satu hari nanti!

5 things you should know about Bitcoin

By Jason Stutman Written Sunday, December 4, 2016

Referred to by some as “digital gold,” Bitcoin is one of the most controversial investment opportunities that exists today. Over the past five years, the value of Bitcoin has skyrocketed nearly 25,000%, meaning if you had the foresight to buy and hold early, you could have earned as much as 250 times your initial investment. That's enough to take $10,000 and turn you into a multimillionaire... But many investors are still keeping far away from Bitcoin, despite its historic rise. To the average person, it’s all just too unfamiliar, too intimidating, and too risky. Yet after years of naysayers predicting that the sky will come crashing down, Bitcoin just keeps on chugging along. Hard to believe, but the cryptocurrency has been around for almost a decade now, and at this point, it doesn’t seem to be going away. In fact, Bitcoin's bid as a serious investment has only matured in recent years as the digital currency has come of age. Once rightfully considered a virtual lottery ticket, Bitcoin has gradually cemented itself as a legitimate asset to consider for your portfolio. This week, the cryptocurrency marked its longest stretch trading over $500 since its inception nearly a decade ago. For six months, Bitcoin has climbed well past that mark, now trading near $750. If that makes you feel like you've been missing out, but you aren't convinced just yet that Bitcoin is right for you, here are five things you should probably know about this unique investment... #1: More and More People are Using Bitcoin Every Day In its early days, Bitcoin was little more than a speculative bet for day traders hoping to turn a quick profit... That’s because as a currency, Bitcoin had very little utility aside from on the black market. Like trying to pay your rent in yen, buying goods with Bitcoin was just something you didn’t do. But after years of gradual adoption, more and more people are using Bitcoin for real-world transactions every day. In January 2010, Bitcoin was averaging less than 200 transactions a day. Today, the digital currency is used in as many as 300,000 transactions per day. (Source: blockchain.info) In other words, Bitcoin is no longer just a form of money in theory; it has become a form of money in practice. People are buying goods with it, just as they do with any other form of currency. For long-term investors, this is great news, because after all, that’s where Bitcoin’s value exists. So long as adoption of Bitcoin as a currency continues to increase, its value should move in tandem. #2: More Vendors are Accepting Bitcoin There are two main reasons Bitcoin transactions have and will likely continue to increase. The first is a growing acceptance from legitimate vendors. Since 2013 there have already been a number of major retailers that have taken the initiative to treat Bitcoin as a legitimate method of payment. Notable companies include Expedia, which now accepts Bitcoin for all hotel bookings, Overstock.com, which began accepting Bitcoin for its products in January 2014, and Microsoft, which recently added Bitcoin as a payment option for its digital content. Other major vendors include Dell, Subway, Newegg, TigerDirect, Tesla, PayPal, and REEDs Jewelers, to name just a few. Even the Sacramento Kings NBA franchise now accepts Bitcoin online and at the Golden 1 Center arena. That means NBA fans can get tickets, jerseys, hot dogs, and, yes, even beer with their bitcoins. #3: Volatility is Trending Down On top of an increasing number of vendors accepting Bitcoin, price volatility is trending downward — and for long-term investors, that’s a good thing. In 2011, the 30-day volatility of Bitcoin was nearly 16%, but today it’s closer to 2.0% on a dollar basis. (Source: btcvol.info) This simply means the day-to-day fluctuations in the price of Bitcoin are decreasing and the value of Bitcoin is becoming more stable. And for a form of currency, this is incredibly important, because it means consumers’ money is more reliable. If a loaf of bread cost $4 yesterday, $2 today, and $7 tomorrow, chances are you wouldn’t have much faith in the dollar. The same rule applies to Bitcoin: the less volatile it is, the better it will fair in the market. Of course, Bitcoin will continue to have bouts of volatility, and it is still years away from being completely stable, but as of today, its price stability is on par with the Mexican peso and South African rand. For a 10-year-old currency, that’s not too shabby. #4: Bitcoin Has Been a Hedge Against Economic Uncertainty For decades, if not centuries, gold has been the go-to safe haven in times of economic uncertainty. When stocks go down, people buy gold. When economies collapse, people buy gold. But investors have increasingly turned elsewhere in recent years in the face of economic turmoil. When Cyprus’s economy tanked in 2013, Bitcoin soared. When China’s yuan collapsed in 2015, it happened again. And when Brexit sent tremors through the market in 2016, Bitcoin investors had a field day, as the currency’s value exploded as much as $100 in a day. In the month leading up to Brexit, fears sent prices from $400 to over $750. Bitcoin tends to work as a hedge because it's disconnected from the traditional financial system. It offers an easy way for people to exit economies that revolve around government money and bad monetary policy. If you’re one of the many people worried that the U.S. dollar is on its last legs as the global reserve currency, Bitcoin isn’t a bad bet. #5: Buying and Selling is Easier Than You Think Contrary to popular belief, you don’t have to be a computer scientist to invest in Bitcoin. Buying and selling the cryptocurrency is actually pretty simple: all you really need is a credit card, bank account, or PayPal to get started. There are a number of easy-to-use platforms for trading and storing bitcoins. Some of the most reputable ones include Coinbase, Kraken, BitQuick, and Blockchain Wallet. Buying and selling Bitcoin today is about as easy as trading stocks. Once you’re comfortable with whatever platform you choose, you can get started right away. But remember, Bitcoin still carries plenty of risk and should only account for a small portion of your portfolio. The best investors are well diversified, and Bitcoin is just one place to potentially grow your wealth. Until next time, Jason Stutman

GOLD

Dear Reader, When it comes to saving a portion of your earnings, an error most people make is to save their wealth in man-made currencies. These currencies are controlled by central planners, are regularly manipulated, and are created out of thin air without regard for the value of the currency you have in your wallet. In the digital age, accounts holding these currencies can be frozen, easily confiscated, and tracked. I personally advocate saving in gold or other precious metals, like silver, palladium, or platinum. A combination of truths lead me to this simple savings strategy: 1. They’re lawsuit-proof. Not technically, but the fact is no one knows how much gold you have – it is a private matter. Gold is "off the books" when it comes to financial accounting. 2. It has a history of being money, an independent unit of account that is the same no matter where it was mined or how old it is. It is a constant measurement of value; you can take a gold piece anywhere in the world and it will still have value. This is much different than a fiat currency. Once outside of your nation's borders, a currency may not be generally accepted. You also have thousands of fiat currencies that no longer have any value, like the U.S. Continental or the Confederate States of America dollar. 3. It can't go to zero. Zero value for gold isn't an option. It hasn't ever happened, and never will. The process to get a one-ounce gold coin to you has hundreds of man hours behind it, and maybe even thousands, if you consider the full operation of gold exploration, production, refinement, and delivery. This is the entire point of saving your wealth: you save to not lose. I understand that you can measure gold vs. the dollar or gold vs. oil, and that its price will fluctuate, but the value in gold itself does not change. 4. The currency printers are hoarding it. When the most powerful group of people in the world, the central bankers, desire to have one asset, then that alone should get your attention. Central banks print the currencies that the masses treat as a store of value, and those central banks buy and store physical gold – not silver, not houses, not oil, they own gold! If it is good enough for the masters of this world, then it's good enough for me. 5. It’s financial insurance. When it all hits the fan... Be it from a government or economic collapse, at the end of the day, gold survives. It still has value in the new world. It also makes for a great "start over fund" for the reasons listed above. It won't go to zero, and it's private money. 6. It’s portable. I think it's important that if you need to, you could easily carry or move your wealth to a different region. Just to give you an idea, $250,000 in gold is about the size of a VHS tape. Your fiat currencies are typically tied up over the weekend and on bank holidays; in fact, even if you wanted to physically get your cash, you couldn't unless you gave your bank a 72-hour notice for withdrawals of over $5,000. 7. It’s legacy wealth. Gold is something you can safely store away, knowing that it is something of great value that you can pass on to your children and your children's children. It is a safe stash of value that you can tap into when you are in your "golden" years, or at any time throughout your life. Ultimately, when you are saving a portion of your earnings, you want to protect and preserve it. Gold, in my opinion, along with the other precious metals, are the best way to achieve the objective of saving money by preserving both the value of your savings and protecting it from unwanted dangers, like government and civil litigation. Daniel Ameduri President, FutureMoneyTrends.com

Elevate Your Trading: 5 Tips on Trading Losses

by Gary Dayton

“I avoid trading losses at all costs; I hate losses!" "Trading losses are just awful!  I can’t stand them." "When I have a trading loss, it just shows I'm not a good trader, husband, father, provider, … or person!"How many of us have such thoughts about trading losses? Most, I would imagine, though we never talk about them. We may not even acknowledge them, but they are important. Such thoughts cause us to cut winners short, hold onto losing trades, avoid pulling the trigger, and even over trade by entering a marginal position or doubling down with position size to make up for that last loss.

Impact of Our Thoughts on Losses

How we think about losses is important. Our thoughts about losses directly influence our trading behavior. They can affect how we see ourselves as traders and our self-esteem. Thinking about losses in an unconstructive manner can create a negative trading spiral and actually compound our losses.  Thinking losses are just dreadful, we actively try to avoid them in unsound ways.  We commit defensive trading behaviors like cutting winners short, letting losers run, etc. These erratic trading actions may cause even greater losses, further reinforcing the notion that losses are bad. Self-esteem and confidence wither, setting us up for more of the same on the next trade.

The reality is trading losses will happen continuously throughout your trading career. They are inevitable and unavoidable. With practice and experience, losses happen less frequently, but you cannot eliminate them completely.

Reasons for Losses

Losses occur for two primary reasons: 1) we make mistakes and 2) the market context changes.

We are human and trading is complex. Trading is very demanding on our mental and emotional capacities; it is hard not to make mistakes. Also, the market constantly changes. A trade setup that worked yesterday may not work today because the market context is now different. Trading is based on probabilities, meaning that there is always a certain likelihood of loss in any trade setup.

If we think unconstructively about losses, we are sure to struggle with our trading.  Here are five tips that can help you re-set your thinking and attitude about losses:

5 Tips on Trading Losses

1. Accept Losses. Instead of viewing them as awful, recognize that they are a natural part of the game. No one wins 100% of the time. Every professional trader had losses. Give yourself permission to have losses and accept the probabilistic truth of trading.

1. Commit to Trading Well. Even when you might be thinking negative thoughts about a potential loss, be steadfast in following your trading plan. Manage your trade by what you see in the price movement and indicators, not by what your mind is saying to you.

1. Use losses to learn. This is what the best traders do.  Learn about yourself as a trader and about the market through your losses. Are you doing things that you can improve on when you have a loss? Did the market context change and show you that the trade was unlikely to work? Use this information with future trades.

1. Trade with an Edge. Make sure all your trade setups have a probability of working and an expectancy of producing profit. Write them down in your trading plan and work only your plan. This is the only way you will generate profit consistent with your edge.

1. Study market context. Any trade setup will work better in some market conditions than others. Know the context in which your setup works best and the context in which it doesn’t work as well. This will improve your edge and reduce the frequency of losing trades.

Reviewing your trades is an excellent way to learn from losses and better understand market context