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Navigating the world of Forex ⁢trading can be ⁢a daunting task,‌ especially when ‍it comes to ​choosing the right‍ trading platform. With⁤ an abundance of options⁣ available, it’s easy⁤ to feel overwhelmed ‌and unsure of where to‌ start. But fear ⁢not!​ This makes it essential for us to understand the following topic: “Forex Trading Platforms: The Ultimate Guide to Choosing the Right One.” In‌ this comprehensive ⁤guide, ⁤we will walk‌ you through everything you need ⁤to⁢ know about selecting the perfect Forex trading platform for ⁢your needs. From analyzing key features​ to⁣ understanding the⁣ importance of user-friendly interfaces, we’ve‌ got⁢ you covered. So, grab a cup of ⁣coffee, get comfortable,⁤ and‌ let’s dive into the⁣ world ‌of Forex trading platforms​ together!

Forex⁢ Trading Platforms: The⁣ Ultimate Guide to ‌Choosing the Right‍ One

Forex trading​ platforms are essential tools for traders looking to navigate the volatile global currency market. With so many options available, it can⁤ be overwhelming to choose the right platform that meets your specific trading needs. In this ultimate guide, we ‍will walk you through the key factors ⁣to consider⁤ when ⁤selecting a forex trading platform.

1. User-Friendliness: When​ choosing⁢ a ⁣forex trading platform, one‌ of the‌ most important ⁣factors to consider is‌ user-friendliness. A platform⁢ that ⁢is intuitive⁤ and easy to navigate can ⁣greatly enhance your trading experience. Look for⁤ platforms that offer⁤ a clean and organized interface, as well as customizable charts ⁤and indicators⁣ for a personalized trading setup.
2. Available Features: Different trading platforms offer various features​ that⁤ can significantly impact your ⁣trading strategies. Consider​ the tools and ​indicators provided ‍by each platform,‍ such as real-time market data, advanced charting, and⁣ technical analysis‌ tools. Look for ⁢platforms ⁣that offer ⁤a wide range of ⁢order ⁤types,‌ including ‍stop-loss ⁢and take-profit orders, to help manage your risk effectively.
3. Reliability ​and ‍Stability: ​In ‍the‍ fast-paced world of forex trading, platform reliability ​is crucial. ⁤Ensure that ⁢the platform ⁤you‌ choose⁣ has a track ⁤record ‍of stable performance, ⁢with⁣ minimal downtime or‍ technical glitches. Look for platforms that offer built-in risk management features, ⁢such as guaranteed‌ stop-loss orders, to protect your trades⁤ during unexpected ‌market ‌movements.
4. Mobile Trading: With the increasing‍ reliance on smartphones ⁣and tablets, mobile trading has ​become⁣ a necessity for active traders. Consider platforms ​that offer mobile trading apps compatible with ‌both ​iOS and Android ⁢devices. A mobile trading app‌ allows you ‍to monitor your⁢ trades, access​ real-time market data, and execute trades ‍on the ‍go, ensuring you never miss a trading ‌opportunity.
5. Customer Support: Inevitably, you may encounter technical‌ issues or have ‍questions⁢ while using a forex trading ‌platform. Look for platforms‍ that offer ⁤reliable customer support, such⁢ as live ‍chat or phone support, to assist you promptly. Additionally,‌ check if the platform provides educational ‍resources, such as⁣ video tutorials ⁤or webinars, to help you improve ⁣your ⁤trading skills.

Selecting the appropriate forex trading platform is a vital part of your trading journey. By considering factors such as user-friendliness, available‌ features, reliability, mobile trading⁢ capabilities, and customer support,‌ you can⁤ find a platform that aligns with your trading goals and ‌maximizes ⁢your ⁤trading​ potential.

Navigating the Forex Market:‍ Understanding the Key Features of Trading Platforms

In ‍the vast⁢ world of ‌forex trading, ⁤having a reliable and user-friendly trading platform⁢ is crucial for⁣ success. ‌With⁢ so many options available, it can be overwhelming ‍to choose the right ⁣one.⁢ That’s why we have created this ultimate guide to help you ⁤navigate ​through the key features of trading platforms and find the perfect fit for your‌ needs.

1. User Interface: A trading⁣ platform’s user ​interface is where ​you will‍ be spending most of⁢ your time, so it’s important to choose one that‍ is​ intuitive and easy‍ to navigate. Look for platforms‍ that offer customizable layouts, drag-and-drop ⁤functionality, and a⁤ clean design‍ that allows for⁢ efficient ⁤trading.
2. Charting and Analysis Tools: Technical ⁢analysis is‌ a fundamental aspect of ​forex‍ trading. Look for platforms ‍that⁢ offer a wide range⁢ of⁤ charting tools, indicators, and drawing tools. These features will⁢ help you analyze market‍ trends, identify entry​ and ⁤exit points,​ and⁤ make informed trading decisions.
3. Order Types: Forex trading involves different order ⁣types, such as market orders, limit orders, ‌and‌ stop orders. Make sure the trading platform ‌you​ choose offers a⁢ variety of order types to suit ⁢your​ trading strategy. Additionally, check if the platform allows for one-click trading, which can save ‌you time and streamline your trading process.
4. Mobile Trading: In today’s rapidly moving world, the ability to trade on-the-go is indispensable. Look for platforms that offer mobile ‍trading applications that⁤ are ⁣compatible with‍ both Android and iOS devices. This will allow you to monitor your trades‌ and make⁤ informed⁢ decisions ⁤no ⁤matter‌ where you are.
5. Risk Management⁢ Tools: Managing risk is crucial in forex trading.​ Look for⁢ platforms that offer risk management tools such​ as stop-loss orders and take-profit orders. These features will help​ you set predefined levels at which your trades ‌will be⁤ automatically closed, ensuring that⁤ you don’t lose more money ​than you are comfortable with.

Remember,​ finding‌ the ⁢right forex trading ‍platform is ​a personal⁣ choice. Take the time to explore different options, ⁤consider your trading ​style and ​goals, and choose a ‌platform that aligns with your ⁤needs. By understanding the ‌key‌ features of trading ‌platforms, ‌you can make​ an⁤ informed decision that ⁢will ‍set ‍you on the path to success in the forex market.

Comparing ⁢Popular Trading Platforms: Uncovering the Pros and⁢ Cons ​of Each

When it comes⁤ to Forex trading, having a⁢ reliable and efficient trading platform is⁢ essential. With so many options available ​in ‍the market, it can be overwhelming ⁣to choose⁢ the​ right‍ one for ⁢your trading needs. That’s why we’ve put together this comprehensive guide to help ⁢you ‌compare‌ and uncover the pros and cons⁤ of popular trading platforms.

1. MetaTrader‌ 4 (MT4):
   • Pros:
     • Widely used and respected in the Forex industry.
     • Offers a wide⁢ range of technical ‍analysis tools and indicators.
     • User-friendly interface, ideal for both beginners and seasoned traders.
   • Cons:
     • Limited customization options for layout and⁤ design.
     • Requires a separate installation⁢ on your computer.
     • May experience occasional connection ⁤issues.
2. MetaTrader 5 (MT5):
   • Pros:
     • Improved performance and advanced trading features ⁤compared to MT4.
     • Access to ‌a larger number of financial markets, including ​stocks and⁣ commodities.
     • Enhanced charting​ capabilities​ and built-in⁣ economic calendar.
   • Cons:
     • Steeper learning curve for beginners.
     • Not ‌all brokers offer MT5 as a trading⁣ platform.
     • Limited availability ​of third-party indicators and expert ⁣advisors compared to MT4.

In⁤ addition to these popular ⁢platforms, there are ⁣also other ‌options such as cTrader,⁤ NinjaTrader, and TradingView. Each platform has its strengths and ‍weaknesses,⁤ so it’s important to​ consider factors ⁤like ‍user-friendliness, available ⁢features, and⁣ compatibility with your ‍broker. Ultimately,⁣ the choice of trading platform ‌will depend on your trading style, ⁢preferences, and goals.⁣ Remember to ​demo test different‍ platforms before committing to one, as this ⁣will give you a ⁣better understanding of their functionality and user experience. By‍ comparing and ⁣weighing the pros and⁤ cons, you’ll be able to⁤ find the perfect Forex trading ‌platform that ‍suits your needs⁤ and helps you achieve ⁤your ‌trading goals.

Finding​ Your Perfect Match: ⁤A Detailed Analysis of Forex Trading Platforms

Choosing the right forex ⁢trading platform can be the difference between success​ and ⁤failure in the world of currency trading. With ​so many options available, ⁢it can be overwhelming ⁣to find the perfect match ‌for your needs. ⁤In this detailed analysis, we will break down ⁤the key ⁣factors to⁣ consider when selecting a forex⁤ trading platform, ensuring that you make an ‌informed decision.

1. User-Friendly Interface: Look ‍for a platform ⁣that offers an intuitive ‍and ⁢user-friendly interface. You want to be able to navigate ‌easily and quickly execute trades without any‍ confusion⁢ or technical difficulties.

2.⁢ Security Measures: Your chosen ⁤platform should prioritize the⁤ safety ⁤of ⁤your funds and personal information. Ensure that the platform uses secure encryption‌ technology, offers two-factor authentication, and has a‍ robust system for ‍protecting against hacking and fraud.

3. Trading‌ Tools and Features: Consider the range ⁤of tools ⁢and features that the⁤ platform provides. Look for features like real-time charts,⁢ technical analysis‌ tools, economic calendars, ​and⁣ risk management tools. These tools will help enhance ⁤your trading experience⁢ and make informed decisions.

4. Support ​and Customer Service: Consider the level⁣ of support ⁣and⁣ customer service provided‌ by the platform.‌ Look for platforms that offer responsive customer support through various⁣ channels‌ like live chat, ‌email, ⁢and phone.‍ Good support can help resolve⁣ any issues⁣ or concerns quickly and efficiently.

5. Compatibility⁣ and Accessibility: Ensure that the platform is⁣ compatible with different devices and ​operating ⁤systems.⁢ Look for platforms that offer ‌mobile trading⁢ apps, ⁤allowing you to trade on⁢ the go. Additionally,‌ check if the‌ platform offers access to multiple markets and a variety of‌ currency pairs.

In‌ conclusion, choosing the right⁢ forex trading platform ‌requires careful ‌consideration ​of various⁤ factors ‍like user-friendliness, security​ measures, ‌trading tools, ‍customer‌ support, and accessibility.‌ Take‌ your time to research⁢ and compare different platforms before making ⁣a ‍decision. Remember, finding the perfect match is crucial for a successful trading journey.

Expert Recommendations: Top Forex Trading ⁢Platforms for Different Trading ⁣Styles

When it comes to forex trading, selecting the right platform is essential for success. With numerous options available, finding the one that matches your trading style can be overwhelming. In this⁣ ultimate guide, ⁣we present​ expert recommendations on the top forex ‌trading ​platforms for different⁢ trading styles.

1. MetaTrader 4: Known ⁣as MT4, this platform is​ a popular ​choice for⁣ both beginners and experienced traders. It offers a ⁢wide range of tools and features, including advanced charting, technical analysis ​indicators, and automated trading systems. MT4 also allows traders ‌to access multiple markets and trade⁤ various​ instruments,⁣ such as forex, commodities, and indices.

2. eToro: ​If⁢ you’re ⁣looking for⁤ a social trading platform,‍ eToro is an excellent option. It enables you to connect with other traders, follow their strategies, and even automatically replicate their trades. This platform is​ user-friendly and perfect ⁢for ⁣beginners. ‌Additionally, eToro offers a wide range ⁤of⁤ educational⁢ resources, making it an ideal choice​ for those who ​want⁤ to learn and‍ improve ‌their​ trading skills.

3.⁣ IQ⁤ Option: If you ​prefer options trading,‌ IQ Option is worth⁤ considering. This ⁢platform offers⁢ a ​wide selection of binary options, allowing you to trade based on your predictions of whether ​the price of an asset will go ‌up or⁣ down.​ IQ Option also ​provides a demo account, which is great ⁣for ‍practicing⁢ strategies and improving your‍ understanding of options‌ trading.

Remember, the key to​ choosing the right⁢ forex trading platform is to​ consider ⁣your‍ trading style and goals. Whether​ you’re a beginner ⁤or an⁣ experienced trader, there’s a platform out there that caters to‌ your‌ needs. Take your ‌time to⁣ research and test different⁣ platforms before making a decision.⁤ Happy⁣ trading!

⁤So‌ there you have it,⁢ fellow forex enthusiasts! We’ve‌ reached​ the end of our‌ ultimate guide to choosing ⁤the⁢ right​ forex ‌trading ⁣platform.⁣ We hope ‌that by‍ now ⁢you’re feeling empowered, equipped,​ and ready to embark on your trading journey with confidence.

Remember, the world of forex‍ trading platforms can be overwhelming at first, but ‌armed with the knowledge ‌we’ve provided, you’re⁤ well ‌on your way to‌ finding the perfect ⁣fit for your needs. Whether you’re⁤ a ‌beginner just dipping your toes into the⁣ exciting ⁣waters ⁤of forex,‍ or a seasoned trader looking to level⁣ up your game, the right platform can ‌make ⁤all the⁢ difference.

Always⁢ keep in mind ‍that the ‍decision ​ultimately rests in your hands. Choose a platform that aligns ⁢with ‍your trading ⁤goals, offers the features that matter most to you,‌ and provides a seamless and secure trading ⁢experience.⁤ One size does not fit all, so take your⁣ time to explore the options, read reviews,‌ and⁢ test out demo accounts ​before committing to a platform.

As you venture forth ‌into the⁤ vast world of forex‍ trading,‌ do not underestimate ⁢the⁣ power ‍of ongoing learning and improvement. ⁣Stay ⁣curious, stay⁢ informed, and continuously expand your ​knowledge and ‍skillset. The‍ forex market⁣ is ever-changing, and so should your strategies ‍and trading techniques. Embrace ​the learning⁢ process and ‍seek out educational ⁢resources, webinars, and forums to enhance your trading abilities.

Finally, let’s ⁣not forget ​the ⁢importance of ‌practicing⁣ proper risk management. Forex trading ⁤can be highly volatile, and ⁢it’s crucial to ‌always trade responsibly. Set realistic goals, define ⁣your‍ risk tolerance, and establish​ a solid risk management plan. Remember, the goal is consistent and sustainable ‍growth in your trading portfolio.

With all of this said, dear readers, it’s time ⁤for you to take the⁤ driver’s⁣ seat⁤ and find ‍that ‌perfect forex trading platform that will guide you toward your⁢ financial aspirations. May the pips​ be forever in your favor, and may your trading journey be filled with​ excitement, prosperity, and valuable experiences.

Now⁢ go forth,‍ conquer the ⁤markets, and⁤ trade ⁤with ‌your​ chosen⁣ platform like never‌ before! Happy trading!

Market Place

MKTPlace is a leading digital and social media platform for traders and investors. MKTPlace offers premiere resources for trading and investing education, digital resources for personal finance, news about IoT, AI, Blockchain, Business, market analysis and education resources and guides.

Renewable energy sources produced around 20% of the electricity used in the US in 2020.

There are various alternative energy sources that people can use these days in both residential and commercial applications. This includes things like wind, solar, and hydroelectricity. Such energy sources provide a range of advantages, and one of the key benefits is that they can save you money.

Keep reading to find out how.

1. Reduced Energy Bills

The most well-known way that renewable energy can help you save money is by reducing your utility bills. Your energy bill is directly related to how much electricity you draw from the grid. If you start getting energy from a renewable resource, you’ll need less from the grid, leading to more savings.

Solar panels are one of the most popular choices in both commercial and residential applications, and they have become more efficient over the years. These days it’s possible to get a solar installation that can fully power your home, eliminating your reliance on the grid.

2. Ability to Sell to the Grid

Sometimes a solar installation in a home or a business can be very efficient. It may even generate more energy than is needed. When this happens, the energy is sent back to the grid.

You’ll be paid for any excess electricity you send back, so the more efficient your system is, the better. A company like Blue Raven Solar can advise you on the most suitable solution to fit your needs.

3. Reliability

One issue with the grid that’s unavoidable is blackouts. They are generally quite rare and don’t tend to last long, so in homes, these are usually more of an inconvenience than anything. For businesses, however, a lack of power can be incredibly costly.

As a blackout can be a major issue, having some sort of backup is beneficial. If you’re able to source power from a renewable resource, then you can keep things up and running even when a blackout occurs.

4. Incentives

Implementing renewable energy systems can have a sizable upfront cost. The government offers various incentives to help people get commercial or household energy solutions installed. This helps people afford these systems, which can generate energy and reduce their carbon footprint.

These incentives vary from state to state, so you should look into the options in your local area to see what you’re eligible for.

5. Protection From Price Fluctuations

Energy prices can change with time, often quite quickly. If you source your energy from the grid, you might unexpectedly end up with larger bills.

If your home or business can generate its own power, however, you won’t need to worry so much about these fluctuations.

Saving Money With Alternative Energy

Alternative energy solutions are ideal if you want to save money in the long run. Being able to source power from solar or wind energy means your monthly bills will be reduced, and you won’t have to rely on the grid operating correctly. Price fluctuations won’t be an issue, and you can even sell excess electricity back to the grid.

For more tech articles, check out some of our other posts.

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MKTPlace is a leading digital and social media platform for traders and investors. MKTPlace offers premiere resources for trading and investing education, digital resources for personal finance, news about IoT, AI, Blockchain, Business, market analysis and education resources and guides.

According to Statista’s insights on global OTC foreign exchange, the United Kingdom had the largest over-the-counter foreign exchange market in 2019, with an average daily turnover of $3.6 trillion (£2.74 trillion) from forex derivative trading. In fact, standard spot transactions only accounted for $1.1 trillion (£836 billion) of the total average daily turnover — positioning the UK as a thriving, advanced market for forex trading.

It’s natural, then, for experienced traders to use sophisticated forex software for their transactions. Most good forex brokers offer clients well-known, third-party platforms at no additional cost, which can help serious traders earn more money. While most of these tools are excellent, they tend to have similar features that make it difficult to find the best platform. At the most basic level, however, here are three key aspects of software to keep an eye out for:

Timely and accurate forex quotes

As prices fluctuate in a matter of seconds, having timely information is crucial in navigating the forex market. Trading software should provide accurate data for all currency pairs you wish to trade, down to the second. This helps you avoid the risk of requotes, initiate trades at the right time, and monitor your numbers adequately. You also want a platform that executes deals quickly, providing a reliable entry to all types of orders you may need.

cTrader is really good for this, because it incorporates all popular order types such as buy at market price orders, sell at market price orders, place buy or sell limit orders, place stop orders, buy stop limit orders, and sell stop limit orders. And given the recent partnership between Pepperstone and TradingView, you may expect a TradingView social charting integration for cTrader as well, although this is currently available in Australia only.

Key analytics features

The platform you choose should have a full set of fundamental and technical analysis tools, including charts, indicators, a news feed, economic data release calendar, and more — which should be updated on a real-time basis. Case in point, MetaTrader 4 (MT4) made FXCM’s list of top trading software for a reason. The MT4 offers interactive charts, multiple order types, and advanced analytics, making it one of the most popular forex platforms around.

Aside from the 30 built-in indicators, the MT4 also has more than 2000 free custom indicators and 700 available for purchase. These indicators provide traders a chance to study trend currents, and improve on their strategy. As a bonus, the platform should allow for data printout and summarisation for printing; a comprehensive breakdown of past transactions would help traders spot any flaws in their methodology and improve.

User-friendly and customisable approach

A trading platform should let you be hands-on with your account, so you can establish your position as the market moves. It would be good to find a software with functions you can customise. Moreover, any software you use should be easy to use and adjust depending on your preferences, especially if the platform accommodates several markets at the same time. NinjaTrader is a good example of this. Even the free version is highly-intuitive, offering plenty of advanced trading features and allowing traders to use several data sources on the platform.

With NinjaTrader’s recent acquisition of Tradovate Holdings, it’s likely they will further transform their product for accessibility; Tradovate Holdings is known for pioneering a cloud-based trading infrastructure for futures. Other things to look for in a user-friendly platform are minimal system downtime, 24/7 tech support, and strong data security.

For more tips on forex trading, it helps to seek out fellow traders. In our article on Top Ten Forex Forums, we recommended message boards and forums like Forex Factory and Babypips Forum, where you can exchange valuable information with other traders — so do check that out today.

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MKTPlace is a leading digital and social media platform for traders and investors. MKTPlace offers premiere resources for trading and investing education, digital resources for personal finance, news about IoT, AI, Blockchain, Business, market analysis and education resources and guides.

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CRM stands for customer relationship management, and it assists businesses in managing their connections with present and future customers. Customers are critical to a company’s success, thus it is critical that firms engage in these connections and take efforts to secure them.

Many businesses utilize SaaS CRM software to help them make the most of their client interactions. This software helps them to communicate with their customers more effectively, offering better service and optimizing profitability.

CRM is not a new phenomena; organizations have long recognized the value of logging information about their consumers in order to enhance performance. However, contemporary technology has enabled businesses to take CRM to the next level and significantly improve their offers.

The Figures

For firms, the correct CRM software may provide a significant return on investment. The return on investment for a CRM system is projected to be between $2.50 and $5.60 for every dollar spent. This demonstrates the significance of customer relationship management and is one of the reasons the CRM industry is expected to be worth $80 billion by 2025.

So, how can CRM software assist firms in achieving these benefits?

Data organization

Businesses generate a lot of data, but if it isn’t properly kept and searchable, it’s useless. CRM software organizes client data and makes it searchable, making it beneficial for your business.

Employees may obtain all of the information they need about a customer or potential customer, allowing them to better satisfy the expectations of that consumer. When information is kept in many locations, it may be a cause of significant inefficiencies; however, a CRM system can bring all of this information together and make it easily accessible.

Customer Support

It may be challenging to stay on top of customer service when your firm has thousands of consumers. Customers want to be able to contact a company via a variety of channels (phone, email, live chat,) and they expect every employee to be able to deliver helpful information across those channels.

A CRM system may assist in bringing all of these factors together by centralizing vital information. Client care representatives have easy access to the information they need to assist the customer, allowing them to address problems via the customer’s preferred medium.

Collaboration

Modern corporations include several departments, each with its own set of tasks and goals. However, each department should eventually function as part of a whole, and information should be easily transferred between them.

Important client information may be quickly accessed across departments with effective CRM software, making it easier for your personnel to provide exceptional service.

Forecasting Data enables you to prepare ahead of time and improve your company processes. To get the most out of that data, you must be able to analyze it. CRM software provides you with real-time insights that are relevant to your company goals.

These insights can help your staff become more efficient and provide better service to your consumers.

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MKTPlace is a leading digital and social media platform for traders and investors. MKTPlace offers premiere resources for trading and investing education, digital resources for personal finance, news about IoT, AI, Blockchain, Business, market analysis and education resources and guides.

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According to a survey by CB insight, 70% of software firms fail, while 97% of consumer hardware startups die or become zombies. While unicorns and initial public offerings have everyone raving about successful businesses, it’s critical to understand why so many fail so you can avoid the same mistakes. Here are some of the most prevalent causes and how to avoid them.

1. Failure to strike a balance between labor and pleasure

You may have heard as a child that “all work and no play makes Jack a dull lad,” yet this cliche is closer to business failure than most people believe. Burnout and an inability to cut losses and focus energy where it would be most lucrative are said to be the reasons behind 8% of firms failing, according to research. You’ll have to put in more effort to build a business, but it doesn’t have to be dangerous. Prepare yourself psychologically for how difficult and unpleasant it is to start a business, and then make it a point to travel, workout, and relax in other ways.

2. Insufficient funds

One of the most important aspects of owning a business is making sure you have enough cash to run it and enough left over to keep it going until you break even. You should not stop hunting for funding just because you raised a significant amount last year. Premature scaling, for example, is to blame for 90% of startup failures. When scaling, it appears that you are expanding since you are employing and funding, but you may be biting off more than you can chew. Money Monarch goes on to say that you shouldn’t combine your personal and company finances. You may even have side hustles to keep your household afloat while you focus on your business. In business, money mistakes are normal, but you must guarantee that your life will not be disrupted if something goes wrong.

3. There isn’t enough demand for your goods.

Most entrepreneurs assume their product is so fantastic that buyers would beg them to buy it. Obviously, the money will start flowing from there. However, this is naive, and it is one of the reasons why 45 percent of businesses fail. Instead, you should know what your product will achieve in the market and be willing to adapt to changing market conditions. Beta-testing your product before launching it will help you avoid failure and market rejection.

4. Losing concentration

Personal concerns, distracting ventures, and a general lack of concentration account for 13% of startup failures. You and your team may begin to wonder where you’re going and if you want to be a part of a startup and the obligations that come with it at some time. Before you call it quits, be prepared to cope with this and have measures in place to assist you get out of the black hole.
You must be an expert on your product, understand your consumer, and have a burning drive to succeed no matter how difficult things become. Businesses don’t succeed overnight, but by avoiding these and other blunders, you’ll be well on your way to turning your goal become a reality.

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MKTPlace is a leading digital and social media platform for traders and investors. MKTPlace offers premiere resources for trading and investing education, digital resources for personal finance, news about IoT, AI, Blockchain, Business, market analysis and education resources and guides.

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Excel is one of the most used programs by professionals. Microsoft’s spreadsheet editor has features that go far beyond formulas: it allows you to create visual panels, perform data searches, Excel functions create graphics for presentations, among countless other features. The tools are available in their entirety for the desktop — whether in Windows or macOS — and, to a large extent, also in Android and iPhone (iOS) mobile apps.
The spreadsheet program in the Office suite concentrates several options that help in the day-to-day — professional and personal — of its users. MKTPlace has separated a list with six useful functions for those who work with the editor.

1. Dashboards
A dashboard is a visual dashboard that shows all the important information about a business or process. It helps organize data and metrics that will be taken into account when making decisions. This ability is interesting for many professions, but it is especially used by IT professionals and in business management.

In Excel, the first step to create a dashboard is to build a spreadsheet with the data you want to display in the dashboard. Then you need to select it, go to the “Insert” menu and select “Pivot Table”.

Select two fields and create the pivot table, repeating the process with different fields to form multiple tables. The next step is to build dynamic charts with the assembled tables. At the end, you’ll have a dashboard full of information organized in a much more intuitive way than in the original spreadsheet.

2. Graphics
Graphing is another visual solution for organizing data. They are used by a huge amount of professionals such as managers, accountants, IT workers, human resources and others. The function is also very useful for students and teachers, as well as anyone who wants to give presentations.

Excel has a huge variety of chart types, such as pie, bar, line, column, area, radar, among others. To generate a graph, just select the table with the database, click on the “Insert” menu and select the preferred model. Each type can even be customized with colors, styles, fonts, alignments and design to the user’s taste.

3. NPV
Excel functions allows you to calculate the Net Present Value (NPV), an account used by investors to find the real gain of an application. The calculation is necessary for both individual investors and entrepreneurs who wish to increase their company’s equity.

Microsoft’s spreadsheet editor has the VPL function. The formula is “=vpl(rate;value)”, without quotes, and must be typed in a blank cell. If there is more than one period, it must be added in sequence.

4. Pivot table
Excel pivot tables synthesize data from very large tables, making it easy to analyze information. They are automatically updated when the values ​​in the original table are changed, keeping the information always correct. These characteristics make the resource interesting for positions that deal with a large volume of information, such as personnel department managers, marketers, developers, etc.

After selecting a simple table, go to “Insert” and choose “Pivot Table”. As described in creating dashboards, you can create multiple pivot tables using different fields from the same original table. They can be entered in the same spreadsheet as the original or in a new one — the automatic update will work just as well.

5. Conditional formatting
Conditional formatting is for highlighting cells based on certain values ​​or parameters. For example, you want to quickly see which months you spent more than US$1000 in the supermarket. To do this, just take the household budget spreadsheet and apply conditional formatting so that Excel will redden the cells larger than this amount.

The feature, which can be used by virtually all professionals who work behind their computer screen, is located within the “Home Page”. Select the table and click on the menu to view the tool. Excel provides a shortcut to the most popular templates, but you can edit conditional formatting by going to “More rules” to create your own standards.

6. PROCV
Excel’s VLOOKUP function lets you find data in rows of a table or a range. It performs a vertical search — that is, along a column — based on a given value and offering in response other data from the corresponding row, where the searched value was found. In this way, it links different tables, avoiding duplication of data and typing errors.

Its formula is “=VLOOKUP(search_value;table_array;column_index_num;[search_range])”, without quotes. In this string, “search_value” is what you want to find; “table_array” is the interval where the function will perform the search; “column_index_num” is the number of the column where the answer will be displayed; and “search_range”, optional padding, allows the user to define whether they want VLOOKUP to find an exact or approximate match. Yes, Excel functions are so usefull!

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MKTPlace is a leading digital and social media platform for traders and investors. MKTPlace offers premiere resources for trading and investing education, digital resources for personal finance, news about IoT, AI, Blockchain, Business, market analysis and education resources and guides.

Education is the key to becoming a successful forex trader. Babypips is a useful tool in this field. While there are many fine further education courses out there for those who are looking to learn the basics of trading and hone their skills, they can be quite expensive. However, if you are self-disciplined enough to study independently, without the need for external pressures to guide your development, then there are many online educational resources that are available free of charge.

One of the leading lights is Babypips, a popular forex education website that combines a range of useful resources for traders of all experience levels, including an online course, analyst blogs, a busy forum, a forex encyclopedia, and tools including an economic calendar, a brokers guide, a currency converter, and various specialised forex calculators.

Perhaps the most immediately obvious difference between Babypips and competitors such as Forex Factory and Forex Crunch is the friendly, cartoony tone adopted throughout. The site makes use of cute, comic book-esque graphics throughout, with their analysts being referred to collectively as the ‘FX Men’, with pseudonyms such as Robopip, Forexninja, and Cleopiptra, and are depicted as cartoon characters.

It’s all an effort to make forex trading, traditionally a rather dry world of charts and number-crunching analysts, that little bit more accessible and fun for the beginner. While the constant stream of pip-related puns and jokey asides may not be to everyone’s taste, they certainly mark a departure from the norm for this type of website.

Joking Aside

Despite the air of levity that pervades all the content on the site, the information is as solid and as in-depth as you will find anywhere. In particular, their ‘School of Pipsology’ covers a very comprehensive range of topics from the basics of the forex market and placing trades to sophisticated analysis techniques. It does quite a good job of demystifying some of the more complex topics, and the friendly tone can help to assuage some of the boredom that can set in when discussing technical topics of any nature. It takes the trader on a journey from novice to expert via short, modular lessons that can be ticked off as they are completed so that you can keep track of your progress.

The blogs section is the main focus of the site aside from the school, and is updated on a daily basis by a team of top analysts from the world of currency trading. Each specialises on a different topic, with Robopip for example covering algorithmic trading techniques, and Pip Surfer covering trading systems. They also post their most recent trades on the website in a similar fashion to social trading websites.

The forum on the website might not be as heavily populated as the ubiquitous Forex Factory forum, but it is nonetheless a useful and well-moderated resource with a lot of knowledgeable contributors. The most popular sections, at the time of writing, are Newbie Island, which as the name suggests covers the questions of beginner traders, and Free Forex Trading Systems, where users can view and share systems for trading the forex market.

Tools for Traders

Babypips also hosts a range of useful tools for forex traders, including:

• Forex Economic Calendar – a guide to when to expect all the major market-moving news releases, market holidays, and other currency-related events.
• Forex Broker’s Guide – everything you need to help you choose a forex broker, including what to look for, a comprehensive list of brokers with all the essential stats, a broker comparison tool that enables you to view detailed information about up to three brokers side-by-side, links to the relevant national regulatory organizations, and a glossary of commonly-used terminology.
• Currency Converter – A simple converter for finding out how much one unit of currency will buy you of another at the current bank rates.
• Forex Calculators – A range of useful calculators to help you assess and evaluate trades and set up charts, including a Fibonacci Calculator, a Pip Value calculator, a Pivot Point calculator, a Position Size calculator, and a Risk/Reward calculator.

The other main resource on the site is the Forexpedia, a free encyclopedia covering all the forex terminology you are likely to come across, in an easy letter-search format. So if you ever come across a word or phrase, and you’re not sure what it means exactly, then you can look it up here and all will be revealed.

All in all, Babypips is a friendly and welcoming addition to the world of forex trading online, providing an easy route into learning about trading for beginners, but with enough depth of information to keep experienced traders coming back for new ideas and to brush up on their knowledge and skills. In addition to the constantly-updated information on the site, they are also very active on Twitter and Facebook, with regular market updates and links to useful resources.

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MKTPlace is a leading digital and social media platform for traders and investors. MKTPlace offers premiere resources for trading and investing education, digital resources for personal finance, news about IoT, AI, Blockchain, Business, market analysis and education resources and guides.

Having proof of income documents will provide you with several benefits.

People typically have a hard time proving their income when they’re self-employed. Proving your income is necessary if you’re trying to file taxes or get a loan. Lenders will want to see how much money you’ve made to determine if you’d be able to pay them back.

Understanding how to prove your income will make either of these processes simpler, and it’s always good to monitor your finances.

So what documents prove income? Read on to learn about the best options.

Pay Stubs

The best way to prove income if you’re employed is to print pay stubs. Pay stubs are typically provided by employers, but you can make them on a site like ThePayStubs if you’re self-employed. These documents will show several things such as your income and personal info.

What makes pay stubs the best option is they show exactly where your money went. Unlike most documents, pay stubs show what portion of your income went to taxes, insurance, etc. This also makes it easier when it’s tax season because you won’t need to do a bunch of calculations to come up with accurate numbers.

Bank Statements

Proving your income can also be done with bank statements because they’ll show how much money has entered and exited your account. The problem with a bank statement is you could have alternate platforms in which you receive money, like PayPal.

If you’re looking to prove your financial eligibility to someone like a lender, one statement from your main financial institution should be enough. However, you’ll need statements of all platforms you use if you’re trying to file taxes. For example, all of the money that goes into your PayPal is considered income.

Tax Return

Proving income can also be done with a tax return, although it doesn’t necessarily show your current income. A previous tax return is good for anyone who’s looking to borrow money right after tax season, but it won’t mean much to you if you’re trying to file taxes for the current year.

Tax returns are similar to pay stubs in that they show how much of your income was deducted. Whether you’re self-employed or work for a company, you’ll receive a tax return if you make enough to file taxes.

Use These Proof of Income Documents

Proof of income documents come in many forms, but these are the best ways to prove how much money you’ve made. Whether you’re trying to get a loan or are filing taxes, these documents will ensure that the process goes smoothly.

If you’re self-employed, we encourage you to start making pay stubs every quarter of the year. This will allow you to stay on top of your finances and filing taxes will be a lot easier. Should you decide to use bank statements, ensure that you get a statement from each financial institution that you use.

Browse our articles to get more financial advice.

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MKTPlace is a leading digital and social media platform for traders and investors. MKTPlace offers premiere resources for trading and investing education, digital resources for personal finance, news about IoT, AI, Blockchain, Business, market analysis and education resources and guides.

With the advent of YouTube, those who are seeking educational videos have more choice than ever. And forex traders, both beginners and experienced, have within their grasp a whole world of content to learn from, and it includes forex trading Youtube channels.

It has never been easier to learn a new skill or improve an existing one through the internet. While some prefer reading and others prefer to watch videos, combining both can be an effective method in improving your understanding of a topic, like forex trading.

In this article, we outline the best forex trading YouTube channels to follow, for both novice and seasoned investors.

Finance Illustrated

Finance Illustrated is an up-and-coming YouTube channel that provides free resources for traders and investors, including broker reviews and educational videos covering the basics of trading, such as the application of take profit and stop loss orders in forex trading.

The main points of each broker review are split into three categories; the good, the bad and the ugly, so that traders can get a feel for the broker before they trade there. The channel also provides explainers on different ways you can use eToro to trade stocks, cryptocurrencies and forex markets and is also associated with some simulation games and external tools that help beginner traders to trade Stocks, Forex and Bitcoin, like the popular app Trading Game.

With detailed reviews on brokers and educational material, be sure to follow Finance Illustrated if you are trading the markets.

Bloomberg Markets and Finance

Next up, media giant Bloomberg Markets and Finance. This channel provides the latest news, analysis and commentary on a wide spectrum of financial markets, including stocks, precious metals, forex trading, and cryptocurrency.

The channel also hosts live debates from time to time, such as the ‘Great Crypto Debate’. Five playlists on the channel cover; cryptocurrency and blockchain, and financial markets and analysis, as well as three feature shows.  These are the David Rubenstein show, Real Yield, and Brilliant Ideas.

Bloomberg are known for getting industry experts and guests on their show for exclusive commentary, interviews and insights. With more than 38 million views on their YouTube channel and more than 330,000 subscribers, Bloomberg Markets and Finance are an essential YouTube channel to follow for investors.

Financial Times

The Financial Times is one of the oldest and most respected financial publications in the world. Therefore, you should not miss out on their YouTube channel if you are a trader or investor. With more than 300,000 subscribers and nearly 59 million views, it is one of the most popular channels for markets news and analysis.

The videos are categorized in a similar way to how the articles in their newspaper are, with stories falling under one of many categories such as opinion, world, companies, analysis, and so on. Individual playlists for each news category are available.

Like Bloomberg, to keep on top of developments in different markets and track fundamentals, the Financial Times YouTube channel is a crucial resource for any investor.

Chat with Traders

Hosted by Sydney resident Aaron Fifield, Chat with Traders is a bit like a talk show and provides commentary from real traders on various markets, such as forex, stocks, futures, options and cryptocurrency.

This forex trading Youtube channel has more than 80,000 subscribers and provides long-form conversations with talented traders, investors and market participants to give you their personal story and share their years of experience. There is also some focus on regulatory and legal issues within the financial world.

Chat with Traders is definitely worth following, as the variety of content and in-depth interviews provide a ton of educational resources, even for experienced traders. The great thing about this channel is that you hear from the professionals themselves; what they think, what they recommend and what they’ve learned.

Investopedia

Investopedia has a large following of about 127,000 subscribers and they are known for their dictionary-style website that explains every financial and economic concept you can think of.

Their educational articles are supplemented by their YouTube channel, which has educational videos that explain key concepts. The channel also presents Investopedia profiles on key market commentators, participants and analysts, as well as providing commentaries from important players and broker reviews.

If an Investopedia article doesn’t make much sense, then you are sure to find a video that explains it with a video on their YouTube channel. Also, with exclusive interviews and features, Investopedia is certainly a finance and markets channel to keep an eye on.

CNBC

CNBC is one of the leading media organisations in the US and has decent coverage of financial markets. The YouTube channel has almost 800,000 subscribers and over 281 million views, making it the most popular in investing channel on this list.

CNBC largely covers news and analysis on stock markets, companies, and other financial markets. Investors and traders should use this channel to keep updated on fundamental factors affecting financial markets, so this channel is similar – and complementary – to the Financial Times and Bloomberg Markets and Finance channels.

Financial Education

Finally, we come to Financial Education , that must be in the list of best forex trading Youtube channels, which provides education and information on trading. The show’s host, Jason, said he created the channel so that anyone in the world could learn about investing , personal finance and entrepreneurship. With more than 300,000 subscribers, it seems his efforts are appreciated and valued.

Financial Education provides opinion and commentary on the markets by the show’s host and general advice and tips on how to invest and manage personal finances. Jason uses his videos to tell us what stocks he’s watching, which ones he’s buying, as well as guides to trading the stock markets. With a wealth of information in this YouTube channel, everyone that’s interested in financial markets should check it out.

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MKTPlace is a leading digital and social media platform for traders and investors. MKTPlace offers premiere resources for trading and investing education, digital resources for personal finance, news about IoT, AI, Blockchain, Business, market analysis and education resources and guides.

In the first section of this guide we took a look at what a futures contract actually is, and how it works at a basic level. The second part of the guide will describe why exactly investors find them so useful and when they should be considered as an instrument worth investing in.

This part of the guide will give an overview of how the futures market works in aggregate, and why investors bother with it, leading on to Part 3 which will show how to assess and value futures contracts.

Why buy futures?
In part one the parties involved had their own goals. The farmer was looking to get some cash up front for his grain, the investor was looking to make a profit off of a prediction that the price of grain was set to rise. It’s important to remain on the safe side and avoid debt management by working with a professional like these insolvency practitioners London. This is one type of futures contract, but there are many different objectives and uses for such contracts. Below we list the two basic uses of a futures contract:

Hedging risks: Futures contracts allow companies and investors to stabilize the price of a volatile asset in the long term, reducing pricing risk. The airline industry is the most famous partaker of these type of contracts, with aircraft fuel constantly being fixed by various futures contracts.

In an industry highly cost sensitive to changes in a volatile asset this makes sense, though the recent drop in oil prices has many airlines stuck to contracts buying fuel way above current market price.

Instead of trying to guarantee the price of oil, some investors try to limit their downside from the bond market by investing in instruments like interest rate swaps. This means that, instead of fixing a price, the risk of losses on certain investments is lowered. This principle can be applied all over the capital markets.

Speculation: In order to take advantage of predictions about future prices, futures are often the best way to get exposure to a commodity and increase exposure using the leverage discussed in Part 1. Speculators, like our grain investor, try to make money all the time by betting on the futures markets.

In fact, all short contracts on stocks and bonds are a kind of future that work in this way. An agreement is made to sell stock of United Company Group at $10 in six months. If the price at that date is $8, the seller is able to make $2. Famous short sellers, like hedge fund managers, do this with millions of dollars at a time.

Who buys futures?
Because of the immense variety of markets that futures are available in, a vast cross section of market players are involved in buying and selling them. From companies that want to fix the price of commodities to hedge fund managers that want to short a company, to a bank that has taken on too much risk in a certain market.

Because of this, basically everyone but specialists trade futures. Commodity producers sell them in order to secure cashflow; market makers buy and sell them en masse in order to take a margin by selling them on, maintaining market liquidity; hedge fund managers buy and sell them against each other; companies hedge their costs on them; financial firms manage their risks based on them; the list goes on and on.

The whole futures market works together in this way in order to set prices for the foreseeable future, and gives a huge economic incentive to analyzing market trends in order to predict the future price of assets.

This means, because of the arbitrage dynamics, that today’s price is more representative of the market’s expectations for the future of a certain asset. The market can, of course, be wrong, but it offers a kind of price stability and predictability that allows both investors and normal companies to operate.

The next section of this guide will concentrate on how exactly you can trade futures, and what the steps are to set up your first trade.

Related Posts:

A Traders’s Guide to Futures – Part 1

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MKTPlace is a leading digital and social media platform for traders and investors. MKTPlace offers premiere resources for trading and investing education, digital resources for personal finance, news about IoT, AI, Blockchain, Business, market analysis and education resources and guides.

A future is a derivative contract in which two parties agree to make a specified transaction at a particular date in the future. Buying a futures contract forms an agreement under which the investor agree to buy the underlying asset at a future date. Selling a future means taking the opposite side of that trade.
This guide is written as a general overview of the world of futures for those interested in exploring the market. Likely the most important piece of the derivatives market, the futures market offers a low cost way to bet on price changes, to hedge against those changes and to access asset markets without geographic or chronological limit.

Because of the intense multiplicity of futures contracts, it will be impossible to study any of them in any detail in this guide. Instead, reading on will offer you a broad glimpse of what futures are exactly, how they affect the market and under what circumstances they can be useful, or profitable, for investors.

The first part of the guide will concentrate on what futures are exactly, and why they differ from the more talked about financial instruments.

What are Futures?
Futures are, at their most simple, contracts selling goods that have not yet been produced. A farmer may decide to sell his entire crop production before realizing it, in order to get cash up front. In order to do this, it will have to be sold at a lower value than the expected yield. If a contract is struck, cash changes hands on Day 1, while crops don’t change hands until the agreed delivery date. The buyer of the contract takes on all of the risk of the transaction.

This is, in fact, the exact situation under which the futures contracts of today evolved. A farmer’s cash supply is extremely limited throughout the year, and futures allowed financial planning based on an agreed price for crops, and a way to ensure cash-flow if major expenses should come up.

Grain is still heavily traded through futures contracts, and farmers still face the exact same problems they did a century ago. Many other assets have been added to the market, however, from the obvious commodities, like fruit, vegetables, beef and oil, to the more abstract, like bonds, company stock and other derivatives.

A future is a type of derivative, meaning that it is a contract that refers to an actual asset. Its price moves with the underlying asset, in this case grain, but the actual asset isn’t traded or directly connected to the contract. There is no specific ton of corn that must be delivered on the expiry date.

The important difference between the grain contract struck by the farmer and today’s futures is that today’s instruments can be traded openly. The futures market is very liquid in most cases, allowing you to buy and sell contracts without having to worry about storing a ton of grain.

Leverage and futures
Leverage means debt, and one of the most powerful features of futures contracts is the ability to pay for them in part, leaving the balance of payment outstanding until some future date, often the same as the expiration of the contract. A short example will illuminate the power of leverage while giving an insight into the workings of a futures contract.

Day One: a contract is struck putting the price of a ton of grain at $100. The Buyer, or Investor, agrees to pay the Seller, or Farmer, $10 upfront and the remainder on the Expiry Date, or harvest.

If the weather is worse than expected and the price of grain jumps to $110 per ton a few weeks later, the buyer will be able to sell the contract for that amount, less the $90 outstanding, and make a $10 profit. With the contract sold, he has no more obligation to the farmer so the total investment was $10.

Leverage allowed the investor to make a 100% return. The margin on this investment was 10% allowing a multiple of 10 on all returns. If the margin was 5% it would have allowed a multiple of 20, but both buyer and seller would have to agree to the margin. In practice, margins on futures are decided on by the brokerages that sell them for the most part.

Astute observers will have noticed that if the price of grain fell, let’s say to $90, on the above contract, the Investor would have lost his entire investment. If it had fallen even lower, the Investor would have been forced to pay out more than he invested in the first place. This is called a margin call, and it is what makes leverage such a powerful and risky tool for investors.

Futures summary
-A future is a contract whereby the seller agrees to sell some asset to the buyer at a specified date.

-Futures can be traded openly at any time up to the expiration date, at which the difference must be settled.

-Futures can be leveraged, or bought on credit, meaning returns can be magnified and investors can lose more than they initially invested.

Related article:

A Trader’s Guide to Futures: Part 2

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MKTPlace is a leading digital and social media platform for traders and investors. MKTPlace offers premiere resources for trading and investing education, digital resources for personal finance, news about IoT, AI, Blockchain, Business, market analysis and education resources and guides.

Want to lose money? The internet is full of trading ideas that will help you do just that. What you need is not to be told what to do, but to get advice that will allow you to think for yourself. To meet this end we’ve put together a list of ten resources that you will need to make your own decisions and have a chance of success on the capital markets.

SEC Edgar

We’re sure of one thing. If you don’t spend time on the SEC Edgar platform you’re not doing well in stocks, or you won’t be for much longer. Every single public filing is searchable and downloadable on this database and every company that’s ever gone public is displayed for your analysis. If you don’t read annual reports you’re not investing, you’re gambling.

Investopedia

Billed as a great solution for beginners, Investopedia is so much more than that. Everybody runs into a metric or a strategy they’re not familiar with every now and then even big traders rarely know what’s going on outside of their discipline. Investopedia, augmented by Wikipedia itself, is a great resource for any trader who’s bogged down in jargon and looking for a simple way out.

Yahoo Finance, Google Finance

With a range of simple to use tools and basic charts, the two financial news and information aggregatiors are there to give an all-round look at the way companies are performing. You’re getting the basic package on Google Finance and Yahoo Finance, so don’t expect miracles. Use them to glance at how the markets are doing, but go elsewhere to really get your hands dirty.

Twitter, Feedly

Depending on your tolerance for social interaction you’ll need to choose between these two sites to give you a constant news ticker. Feedly uses RSS feeds from news websites, while Twitter is more adaptable allowing you to add in Carl Icahn’s latest comments, along with those from Justin Bieber.

If you’re trading regularly you’ll need to keep up to date with the latest news, and sticking to a single source just isn’t good enough anymore. Even investors with access to a Bloomberg terminal use a Twitter feed on the side.

Ycharts

Take any two pieces of information and chart them against each other in order to find a relationship. Ycharts is one of the best charting systems out there, and beats many of its rivals by sheer range of indicators and ease of use. It’s a one stop shop for data visualization and comparison, and it’s got a great free trial.

FRED

The Federal Reserve’s collection of financial data is one of the best sources of economic information in the world. We know that the world runs on macroeconomic indicators and you’ll need access to them in order to make good decisions.

Zero Hedge

You won’t want to be basing your decisions off of what you read here, but Zero Hedge is full of challenging contrarian views that will keep you on your toes and test your real knowledge of the financial markets you are betting on.

You may disagree completely with what you read, but if you can’t write an argument to back up your side you’re running on instinct alone, something that will more than likely emaciate your retirement fund.

eTrade, Ameritrade etc.

We’re not going to pick one online broker above all the others here. You know which one is best for you and you should stick to it. There are some interesting options out there, but this isn’t the time or place to list them. Do some research and find out what works for you.

If there’s one piece of advice we could give out: pay attention to the trading costs. You’ll need a suitable online brokerage to drive your investments, so make sure it doesn’t eat your kids college tuition fees.

WhaleWisdom.com

If you’re a hedge fund nut you’re probably aware of the limitations of the 13F filing. The .txt copy published by the SEC is woefully unreadable, and requires manual spreadsheet work to allow comparisons.

Whalewisdom does the work for you on this one and creates an accurate look at how hedge funds have been buying and selling according to their most recent filings. Have a look at the site and see how it can help make hedge fund decisions form a reasonable, readable whole.

SeekingAlpha, Fool.com

For something a little different head to sites like Seeking Alpha and the Motley Fool. While not a thorough learning experience, and certainly not full of information to take at face value, the essays on the platforms will get your creative juices flowing and give you a decent insight into the markets and the way other investors are thinking.

Set yourself up with something from each heading in the above list, and you’ll be able to do most of the basics of analysis and portfolio management by yourself. If we’ve left out anything you love to use, or an up-and-coming darling, be sure to let us know in the comments.

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MKTPlace is a leading digital and social media platform for traders and investors. MKTPlace offers premiere resources for trading and investing education, digital resources for personal finance, news about IoT, AI, Blockchain, Business, market analysis and education resources and guides.

Thanks to social media platforms and trading technologies, more people are now interested in becoming avid traders. However, most of them find the information provided online pertaining to how to become a good trader and how to cut your losses too confusing. New traders look for ways they can learn trading quickly, set up their charts and start bringing in the money.

However, you just can’t become a millionaire overnight and to even begin making a bit of money trading, it is crucial that you understand some really important rules which have been a source of guidance for many new and professional traders alike. Thus, it is important to understand each rule and to adhere to it and remember trading is a passion. It is not simply a day job. If you want to become a successful trader, you need to start taking things seriously.

Mentioned below are some of the top five rules for traders this year. Take a look at them and try to understand them and incorporate them in your trading style and attitude:

Rule # 1

Always Have a Trading Strategy Read & Tested

A trading plan or strategy is basically a set of rules traders abide by when they enter or exit a market. It is a time-consuming task but because of the technology available today you can easily form an idea and test it right then and there before risking any of your real money. There are trading simulation programs which are designed to help traders decide which trading strategies to use and which not to use. Once your idea is tested and proves useable, you can implement it in a real market and if you see it is successful, stick to it.

Rule # 2

Use the Trading Technology to Your Benefit

If you are stepping into the world of finance and trading, it is important to know it is indeed a dog eat dog world. This also means that when it comes to making money while trading, everybody is going to be using everything they have available in their trading arsenal, which mainly includes trading software. For example, you can use a number of different historical charting applications prior to risking any money. Plus, traders these days use smartphones and tablets to conduct their trade which means they use an array of applications which provide them worldwide financial news, different tickers and trade notifications, anywhere and at anytime. So, start using financial technology and applications.

Rule # 3

Learn About the Markets

It is important to stay up to date with the financial market. As a trader you must learn everything there is about the financial markets. Even professional traders keep learning from daily experiences. Think of it as a never-ending quest for knowledge which can make you more money than before. Nothing is truer than the fact that all successful traders engage in back to back research, for example, they read economic reports, observe different trends and seek reasons for their movements, etc. Understanding the markets is the key here.

Rule # 4

Use a Stop Loss

A stop loss is basically a forecasted estimation of the risk trader can handle with every trade he makes. A stop loss amount can be identified by either a number or a percentage and can limit a trader’s ability to trade more than he can risk. Stop loss usage eliminates emotional trading and lets you make calculated decisions.

Rule # 5

Keep All Your Trades in Perspective

At the end of the day, it is important to understand that trading is a game where the person with the best information wins and sometimes loses. Losing a trade should never be taken as something personal. Similarly winning a trade should always be considered as a stepping stone towards greater success because the difference is always made by the cumulative profits you earn. Always be realistic with your trades and never even think about revenge trading if you lose a trade.

Final Thoughts

All in all, these are some of the best rules you can abide by regardless of whether you are a new trader or a veteran. Follow these rules religiously and you will attain success.

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MKTPlace is a leading digital and social media platform for traders and investors. MKTPlace offers premiere resources for trading and investing education, digital resources for personal finance, news about IoT, AI, Blockchain, Business, market analysis and education resources and guides.

Strategy is definitely one of the key to succeed in the trading business…..

It doesn’t matter if you use fundamental analysis or technical analysis. Every active investor needs a strategy….

Regardless of the fact that you can make correct stock predictions, catch the right momentum trading moves and use all the stock market indicators correctly… you will end up giving back your profits without an effective strategy.

There is no strong and quick rule of what technique you ought to utilize.  It’s really an individual decision relying upon your trading strategy, objectives and abilities.

Remember… you need to have a technique and your technique must fit you. The first and most critical step in constructing a stock trading strategy is to know yourself.

Some questions that will help you get on track in understanding your trading personality are.

Do you like the action of trading?

Are you a risk taker or do you like to stay away from risks?

Can you tolerate large drawdowns?

Are you analytical?

Do you make fast decisions?

Are you really serious about using the Stock Trading Business to create a Living?

If you want to delve deeper into your trading personality, I strongly suggest two excellent books.

Brett Steenbarger “The Psychology of Trading” and “Trade Your Way to Financial Freedom” by Van Tharps. These will reach deeper into the mind of traders and they’ll help create the best system for you.

Some of the newbie traders thought that there is a unique strategy or technique that holds the key to success. They think that Wall Street experts hold some sort of special tactic that will never be imparted to them.
As far as every successful trader is concern this is not basically true. The key to successful trading lies within you! Indeed whatever profitable trading tactic that you use without the best possible outlook you will still lose in the stock market game

That’s right! It is a game. It needs incredible mind control to be an effective technical trader similar with chess or considerably poker.

The primary key for overall success in stock market game is to learn how to properly handle the two mind-boggling strengths of fear and greed.

Let’s begin with greed

According to Personality & Spirituality, greed is the tendency to selfish craving, grasping and hoarding. We all have the potential for greedy tendencies, but in people with a strong fear of lack or deprivation, Greed can become a dominant pattern. One good example that relates to technical trading is the point at which you are in a winning position and want to keep it for extra benefits.

Needing simply somewhat more even after your target price is hit still a certain way to inevitable loss of trades. Also, eagerness becomes an integral factor when you break your eagerness becomes an integral factor when you break by trading excessively extensive size. Generally, what brings about losing trades is due to trading excessively large size basically wanting the enormous score.

In some case, to be an effective trader you also need to have the desire fuelled by greed in order to succeed however this greed should be controlled.

And that brings us to fear

The fear of losing trades is a strong motivator. This is something that keeps you from taking a trade. The fear of losing trades is a strong motivator. To be successful in trading business, one must understand that misfortunes are merely piece of the diversion. You can never win in the event that you don’t play.

Also, you as a trader must learn to be neutral at all time. Try not to get upset when you have a loss, try not to get too happy when you win on a trade. Just remain neutral. It is extremely easy for fear to kick in, this happens to all us, this is why it is crucial that you stick to your plan.

Furthermore, I have listed 3 guidelines below on how to handle fear and greed to be a successful trader.

• Markets are never wrong, opinions are

Listen to the opinions of brokers, if you wish, but don’t ignore what the market’s price is telling you! says Jesse Livermore, aka the Great Bear of Wall Street. This is the thing that keeps you in the game even when it goes against you. Understanding this helps control carelessness which can be a result of greed. Conceding that the market is constantly right and you truly don’t comprehend what will happen next is troublesome. If you believe that you are right with the trade so just hold on even if the price is going against you.

• Don’t rush into trading immediately

This helps control eagerness and fear by constraining you to see there is no hurry. On the off chance that you miss a trade or even a few consecutively, there will be extra open doors. There is no compelling reason to get stressed or feel rush about any trade. Also, trading is a procedure where multiple trades produce results. There is no reason to bet in everything by letting voracity take control.

• Stop second-guessing yourself

Remind yourself that you thoroughly thought things through and have made the best decision. Technical traders are well known for second guessing in every trade. The nature of price charts makes this flaw very easy to fall into. So better accept what the market provides for you on an everyday premise. Don’t attempt to constrain more out of the market than what it gives you.

Many strategies can make money, BUT, because of your own psychology, beliefs and preferences many of these may not work for you. Whether you are interested in forex trading, stock trading or options trading, you must have a valid trading strategy that suits your personality to help guide your decisions.

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