Browsing Tag

Money

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, Real Estate, Travel

The Best Cities to Invest In Real Estate in America

If you are looking to invest in real estate, then you should consider cities which are on the upturn so that you can have the largest return on investment possible. There are some cities that are in ruin, yet millennials run to them for cheap housing. If you weigh all the data, it will be easy to see that some of these unconventional picks are worth your attention.

Bozeman, Montana

You probably didn’t expect a city from Montana to be topping a “best of list” unless it was for “Best Cities to Go to Montana State University” but there is a method to this madness. Bozeman, historically, has been a small, working class city. The local university brings in a quarter of the town’s population every year but there have been others coming to the city for the past few years. It seems that the way Montana’s tax system is structured has created a haven for startup technology companies who can’t compete in Silicon Valley. These companies are moving to Montana instead and picking off the fresh engineering students from the university. The city is becoming more affluent and many fly fishers from the northeast are starting to buy up real estate.

Detroit, Michigan

Another unconventional pick, yes, but Detroit is one of the best cities to invest in real estate in America lately. A few years ago the city was bankrupt and there are hardly any jobs. However, there are a bunch of jobs starting to open up just 30 minutes north of the city and many millennials are moving to Detroit for dirt cheap housing. Neither the native locals nor the millennials can afford to purchase real estate which is what makes Detroit a sleeper hit.

Dallas, Texas

Cost of living in Dallas is poised to become one of the highest in the nation of the course of the next few years. Advising that figure is 6.2% three-year populace development, 3.9% employment increases a year ago and 9% yearly home cost picks up. Homes in Dallas are additionally underestimated; notable midpoints compared to adjacent city’s cost of living make Dallas a sure thing.

Seattle, Washington

The weed trade has turned Seattle into the crowned jewel of the Pacific Northwest. In the past year, prices have raised 12% and there is no end in sight. Restaurants in the city are doing so well, in fact, that they have done away with tipping waitstaff and restaurateurs are now paying them an overly rate. The population of the city is booming and more companies are moving to, what could be, the hottest city in America right now.

Those are four picks that probably were not expected for most real estate hounds, but the reality of the situation is that America is bouncing back. There were so many cities which were devastated back in the 2008 recession that are starting to do very well as a result of intelligent policy making. While other cities in America fall deeper into debt, the ones cited on this list are becoming major metropolitan hotspots.