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6 Tips for Successful Forex Trading

  1. Know yourself and your personality: Making sure your trading philosophy matches your money management philosophy and your personality is key to making your trading plan work.  If your trading plan doesn’t suit your patience level, or your comfort with risks, you are bound to deviate from the plan.  This puts you at risk for making off the cuff, mood based decisions that will most likely be detrimental to your portfolio.  When you know yourself and you strategize accordingly, you are more likely to stick to your plan which gives you much better chances of success.
  1. Learn as much as you can: Make sure you understand exactly what you are doing. Study the mistakes and successes of other before you.  Learn what the charts represent and understand what they are indicating and how that will help you.  Understanding the possible outcomes of your decisions is essential to Forex success. There are numerous resources both online and in print for you to educate yourself.  Educated decisions are much more likely to be profitable than decisions made on rumors or gut feelings.
  1. Choose the right broker: There are thousands of brokers to choose from all over the world. Many are not carefully regulated.  Unfortunately, the Forex industry has been victim to many scams.  Read reviews, check out how regulated and how well insured a broker that you are interested in is.  Check their track record.  Make sure the withdrawal process is smooth. Then, examine what the account choices are. Different brokerages allow for many different size accounts.  Each of these account types have advantages and disadvantages.  The account types might have different leverage amounts, minimum deposits, and levels of customer support.

  1. Choose a strategy and make a trading plan: You don’t have to invent something new. There are well tested, established strategies.  Each strategy starts with knowing how much time a trader has to devote to trading. The different strategies are based on trading philosophy, ability to handle risk, and what your goals are.  Once you know which strategy you are using for your trades, you can make a plan.  Plan your stop losses, the amount of leverage you will use, the currencies you will be trading and how often you will be trading.  Make this plan according to your expectations and habits so that you will stick to your plan.
  1. Test and tweak your plan: Use a demo account to test your plan. Trade using that plan and see what works and what doesn’t.  Learn from the successes and from the losses.  Tweak your plan to use more of what is going well and less of what is not.  Keep trading using your demo account until you are completely confident in your trading plan.  Make sure your plan withstands the test of time.  See how your trading plan would have performed over a long period of time in the past.
  1. Start Small: You can always increase your portfolio but once you lose large sums it can be difficult to bounce back. Once your account grows organically from your profits, you can reinvest those profits without increasing your deposit.

7 Hobbies to Make Your Brain Work Harder in 2017

Just like any muscle in your body, your brain gets stronger when you exercise it regularly. If becoming smarter is your goal for 2017, here are 7 hobbies you can try to achieve it.

Guitar Playing

Playing the guitar gives your brain a full workout as several mental processes go on at once. In fact, a study done by Cambridge University showed that musicians visualize music in terms of its shape, and then process that as a form of practice.

There are lots of online tutorials and mobile apps to help you learn how to play. Once you learn a few basic chords, you’ll be eager to master your first song.

Solving Puzzles

It’s almost impossible to not love puzzles. They are excellent brain teasers that stimulate your mind and make you think.

If you are a busy person with very little spare time, you can solve puzzles even when you’re on the plane or train. It will help you become smarter without having to spend a lot of time or money.

Learning Spanish

Do you have a passion for countries, languages, and cultures? If you do, then learning Spanish will be a good hobby to improve your intellect. Learning a new language will not only expand your linguistic skills, but also give you a better insight of the culture and traditions of the Spanish people.

The trick to learning a new language is to practice it often and converse with other Spanish speakers. It is recommended to learn a new language as early as possible, so now is the best time to start.

Knitting

Knitting keeps your mind sharp as it requires you to follow instructions, use patterns, and perform several other several cognitive tasks. Anyone can be a knitter, but it is especially helpful for seniors who want to keep their brains sharp.

Lock Picking

Lock picking is a cool hobby that will train your mind to think even in the toughest situations. It will mentally challenge you and give you a sense of euphoria once you hear the click.

This hobby is for anyone, including older individuals or people that have physical limitations. You just need the right lock picking tools and you’re good to go. If you do not know how to lock pick, you can find a lot of online videos to show you how it is done.

Taking up Yoga

Yoga has a lot of benefits, from stress relief to improving mental and physical strength. It improves your flexibility and posture as well. Researchers also found that participants who joined a session of yoga exercise had better cognitive performance compared to those who engaged in aerobic sessions or those who did not exercise at all.

Star Gazing

Star gazing is a fun hobby that will refresh your senses and increase your knowledge on heavenly bodies. Most people who do this don’t just stop there; they eventually learn about the universe in great detail.

Before you begin this hobby, you can head to your local library and read about astronomy and space. You can also find a lot of information online. If you can, go to a planetarium and get familiar with constellations and the solar system.

4 Practical Ways to Make Your 2017 a Better Year

Another year has come, which means another opportunity to make your life better than before. New Year is a great way to change things, learn from your mistakes, and become the better version of yourself. Thus, you have an entire year to create new memories and make 2017 your best year yet.

It always feels good whenever a new year has begun. This is the perfect time to reflect on the things that happened to you in the past year and be grateful that another year has arrived to make things right. In case you are seeking for a change this 2017, then make sure that you are ready for it. It won’t be a walk in the park, but you can definitely give it a try.

Hence, here are some ways to be more productive, happier, and healthier this new year:

Start your own business

2017 is the ideal year to start your long overdue business. If you have been planning to run your own venture for quite some time already, then this is the perfect time to begin. Once you have the capital for your business, you can already give it a shot. Running a business is tough, especially if it is your first time. However, with patience, effort, and perseverance, you will be able to make it.

Stop complaining

It’s already 2017 and you have to quit all the negativity in your mind. Instead of seeing the negative side of life and complaining about things, just count your blessings and be grateful. There is no point in seeing all the wrongs or problems in your life because life is better when you think positively. More so, you will become happier if you see the good in people and look at the brighter side of things.

Cut negative people out of your life

One of the most effective ways to lift your spirit up this New Year is to cut all the negative people out in your life. You don’t need people who constantly drag your own happiness, so it’s better to let them go. Your life will be way too fine once you stop talking to this kind of people and at the same time, you will be free from stress and pressure that they always bring in your life.

Pick a new hobby

In case you really want to make this year better, then pursue a hobby that you like or want to try for a long time already. Hobbies can make you feel more energized and let you meet new people that share the same passion as you. Additionally, whatever hobby you choose, it can help you cope with stress. Aside from working hard, you can try any hobby to have a meaningful and active life.

These things mentioned above will help you survive 2017 and make it a better year for you. Simply choose happiness and positivity all the time, for these will give you more reasons to live life to the fullest. Thus, start the year right and make the most out of it.

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