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Investment

Business/Investment

Plan Your Trades Wisely

Any new venture requires research and planning. Trading is no exception, but unfortunately, many people jump in unprepared so that their trades are little more than gambles. If you want to become a successful trader, you must have a trading plan. Not only will it help you understand when to place trades, it will tell you know when to exit a trade, manage your risk and help you keep emotion out of your trading. It is important to invest time into researching and developing a plan that will work for you before you begin. Trial the plan, analyze its successes and failures and modify it as necessary and you will be more likely to have success in the future.

Set Your Goals

Before you can create a trading plan, you must set your goals. Take a piece of paper and pen and write them down to make them more concrete. You need to take into account your personality and your trading style in order to be able to set realistic and workable goals. Assess your strengths and weaknesses and how they will impact your trading. Include timeframes when setting your goals so that you have daily, weekly, monthly, bi-annual and annual goals. All of this is the first step to planning your actual trades.

Plan Entry, Stop and Profit Targets

By planning when you will enter a trade and when you will exit a trade, you avoid trading by emotion. Knowing when to exit a trade is just as important as understanding the signals of when to enter the trade. Exiting in time helps you manage your bankroll and will allow you to come back to trade another day. Setting these points forces you to plan a logical strategy and helps you stick to your strategy when you are trading.

Decide on Risk:Reward Ratios

You must plan your risk:reward ratio once you have already set your entry, stop and profit targets. The higher the ratio, the more reward you will have compared to risk and therefore, the more appealing the trade will be. A ratio of around 1:1.5 would look good. As part of this, you need to work out your risk in terms of how much of your capital you can risk on any one trade or in any one day. The amount will depend on your personal risk tolerance, but is typically between 1% and 5% of your total capital.

Keep Records

Keep records of everything. Of your plans, of your analysis, of your risk levels and targets, of your trading records and of your charts. These records allow you to go back and analyze the success or failure of your trade. From this, you can sit and tweak your plan, improving it as you go.

Conclusion

The key to trading successfully is planning your trades wisely. This will be different for each person as goals and personality vary between people. However, planning, recording and modifying your plans are the key to becoming a successful trader.

Business/Investment, Style

This $4000 Car Will Get You Dates

Go get yourself a 16 year old Subaru Outback and watch your life get better. Sure, Subaru is the car company that has made “Love” a central part of its advertising, but this car sells sex. It might not appear sexy from the outside. Hell, it probably even looks ugly, but one thing is certain — this 4000 dollar car will get you dates.

It’s less of the car getting you dates, actually, and more of how the car will allow you to get dates when you drive it. First of all, the car is already pretty old so you’ll be able to drive it with confidence. Forget about worrying if you’re going to scratch the thing because it probably has 20 dents all over the body already. You spend a lot of time in your car. Americans spend hours everyday in their car, so you need to be sure that it will make you confident. A Subaru Outback will allow you to do that because you’re basically saying “it’s all right here — take it or leave it.” Translate that car confidence into your daily life and you’ll be living up dates left and right.

When you pick your dates up and they get into your car, they’re going to feel totally at ease. This care oozes relaxation. Subaru initially made the car back in the 90s to cash in on the SUV craze but they couldn’t actually make an SUV for whatever reason. What resulted was a weird looking utility vehicle that hits all the right notes. They’re comfortable to sit in, they can fit everything you need, and you’ll never have to put on false heirs when you’re sitting in the Outback. Millionaires in the Pacific Northwest are known for driving these cheap cars for precisely that reason.

Back when the car first came out, the millionaires driving these cars didn’t have the money that they have today so they had to buy a Subaru. What they realized, over time, is that this car does not quit. If you buy a 16 year old Outback for 4 grand, chances are you’ll be driving that car for a few years and get more than your money’s worth. This equalizes the playing field. You won’t have to worry about if you car screams “I’m broke” to anyone looking at it because the car is meant for everyone. Rich people and poor people alike drive this car because it just works, on some weird level.

Sure, if you only have 4000 dollars, you won’t have your pick of the litter. If you go with this car though, you won’t need any of the other ones. The Subaru Outback is the perfect investment for you because you’ll be able to be your true self which will lead to more self-confidence, resulting in more dates. People are attracted to the real you and the Outback shows that better than most cars on the market.