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Finance

Trading Journal: All You Need to Know

In order to carry out executions with confidence and improved performance, keeping a trading journal is considered the best possible strategy. The rate of success in trading is greatly dependant on the level of practice and planning. By using a trading journal, traders can significantly improve the rate of learning as the learning process should be comprehensive in order for the traders to optimize their system. If you are looking for faster ways to be a successful trader then using a trading journal is by far the best option.

Consider trading journal a tool to increase the performance of your management, where you make records for any trades that were made and also review them so that you can make improvements in the future and generate better outputs. It will also help you track any mistakes that you might have made during the trading process from start to finish. The reports generated will be the foundation for you to execute in an improved manner.

You need to keep your trading journal updated at all times in order to develop favorable trades and also come up with strategies that will give you more profits and increased efficiency. As time passes the advantages of the trading journal increase even more. You can read the full post of the benefits of trading journals.

The success rate of trading is greatly dependant on the profit that is generated, and to generate profit you need strategies that will help you achieve that profit, however, for it to work you need to add only the relevant details and records all the while making calculations so that you can examine the session thoroughly and identify where you were making mistakes in order to avoid them in the future.

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Finance

A Debt Free Life is Indeed Possible

As time goes by, the world is getting more and more advanced, which makes our lives easier. However, there’s always a dark side of things as well. With all the cool new products and services that are becoming a ‘must have’, people are also starting to buy more. With all the existing expenses of life, everyone’s purchasing power is already limited as it is. This is where credit card companies start luring you towards debt. They give you the purchasing power that you don’t yet have but in doing so they also trap you in a cycle of debt.

A lot of people you know are in debt of some sorts at any time but despite how challenging it’s getting to lead a fulfilling life without having to pay on credit, you can still live an effectively debt-free life. Being debt free isn’t as clear cut as it sounds; the idea is to live a life where you aren’t constantly trapped by the money you owe to people. You might find it hard to avoid paying a mortgage, for instance. That’s all fine but the real debt that you want to avoid is consumer debt.

The reason why the mortgage is considered a good debt is because it’s debt on an appreciating asset. The thing is, the value of your property is going to increase and as such, your own net worth is safe. However, the debt of assets that depreciate is just money down the drain; money that wasn’t yours, to begin with. Managing finances can be tricky, which is why there are many money services out there who can advise you about how you should spend. It’s a wise idea to seek financial consultancy before you start getting yourself into debt that you don’t know how to get out of.

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