5 steps plan to trade online the forex market and stock market daily

Money and financial markets online trading

There are no stupid trades, trading is risky with no guarantees of success and profits.Simplicity in online trading is one of the most effective financial advice that a trader, financial analyst can apply.A daily trading plan need not be too complicated to confront financial markets opportunities

There are many steps to a daily trading plan. But simplicity is one of the best advice to apply in online trading. Here are 5 steps that I personally apply to my trading and financial analysis for stock market and forex market.
1.Read latest fundamental and economic news, and daily calendar with news releases that may cause volatility and significant price action.
2.Form your own objective view based on your analysis and arguments about what side of the market will you open any positions, long and bullish or short and bearish. Be an independent thinker.
3.Set up your trades with well-established levels of profit, loss and open or close positions if they meet any of your risk/reward criteria. If not any good trade setups appear it is ok to pass on and do not trade at all.
4.Have a positive mood and state of mind, affirmations can help a lot on that, think of success only.
5. Apply your risk management plan and review at the end of day your performance appraisal and attribution. Even if you made a loss as long as it was within your defined risks limits and not an excessive one, it is not a failure.

Finally remember that stock market and forex market are both risky and to make money consistency is very important as great risk management is also. One month of great profitability is not enough to make you a great trader, financial analyst or portfolio manager. Same rule applies to a month of losses. It is the long run performance that matters in online trading, and statistics are not always indicative of whole truth.

Avoiding large drawdowns in returns is both challenging and tough to achieve. But at the end numbers only matter, and effort or time spent plus stress that was felt to achieve those numbers are ignored.

Have a daily positive attitude for facing the financial markets, each day is almost unique, this makes them exciting and do not set boundaries, then just apply your trading plan and be satisfied and happy you approached trading as an investment professional.

USD/CAD rallies after Canadian data misses today expectations

Money and forex market

USD/CAD rallied today from 1.3227 to 1.3351 after news released and both CPI and retail sales missed expectations.Here are the main news
– CAD Consumer Price Index (SEP): +0.1% m/m, +1.3% y/y versus +0.2% m/m, +1.4% y/y expected.

– CAD Core Consumer Price Index (SEP): +0.2%m/m, +1.8%y/y in line with market consensus

– CAD Retail Sales (AUG): -0.1% m/m versus +0.3% expected from a downward revised -0.2%

– CAD Retail Sales Ex. Auto(AUG): 0.0 m/m versus +0.3% expected from from a revised -0.2%

Source : https://www.dailyfx.com/forex/market_alert/2016/10/21/USDCAD-Spikes-After-Canadian-CPI-and-Retail-Sales-Miss-Market-Consensus.html
Also oil prices did not make any significant correction from yesterday selloff adding to more USD/CAD strength.
The forex market is very risky to make money.Be wise to investing and trading when trading forex.

Best ira accounts to consider

Money and personal finance

Best ira accounts can help you make smarter financial decisions.When managing your money and personal finance take time to make a research,choose wisely what are best financial solutions.Best ira accounts can be a guide to help choose the account with best benefits and features that will help you reach or achieve your financial goals.

Funny money lessons from a cat

Money and personal finance

Funny money lessons from a cat.Ok can a cat teach money lessons or money skills?A very interesting article combined with a pet project idea.At any time personal finance is important.From investing to spending and daily financial decisions.And fresh ideas,funny or not can really add a new perspective on how we spend and invest our money and wealth.

Money and a new housing venture

Money and real estate

Real estate can be a making money business or a very risky venture.There are no guarantees that investing in real estate will make money.Risk and capital invested are very big.But there are always new financial or investing ideas.What if you could make money with your home and invest it in another financial market?

For now this financial idea needs a lot of due diligence.Ideas are mainly free,results in terms of profits are not.Diversification is always a good thing in investing.But what if this idea is just another investment that is not suitable for everyone?Do not get carried away,make your own investment policy statement.Or with the help of a financial professional.

How to get out of debt

Money and debt

Debt and money are common features for a lot of people.Debt can be productive if used for knowledge,education or business lending and expansion.In either way someday it is necessary to get rid of debt.Compounding of interest is working against paying off debt.So the only choice is simple.Spend less and pay more than minimum monthly payment,if possible every month.Even if you must reduce consuming other goods,personal finance is a very important aspect.So get out of debt as quick as possible.This will save both money and capital,income to be used effectively such as investing.

F1 is a money machine

Money and F1

F1 or Formula One is a money machine.A business where a lot of money is made and spent on publicity,advertising,sponsorship and marketing.
Recently some major developments about F1 business are taking place.
But being a huge fan of F1 it is a great sport and attracts some of the biggest companies worldwide,which can afford to spend and invest money either for publicity or for business purposes.

Money habits good and bad

Money habits

Money has both good and bad habits.Here is a list of 7 bad money habits.
This bad money habit,You have to have it now—so you pay for it later is very tricky.
You spend money when you’re emotional and You’re focused on today, not tomorrow are also very important.Personal finance,investing,spending,planning for the future are very important concepts.And avoiding debt without good reason is a smart idea.We cannot predict the future,but for sure we will need money to spend.Investments can help for that.And financial planning,budgeting can offer effective solutions when cash or capital is needed in the future.

Contests for traders and money

Money and trading contests

Contests for traders and money are available regularly from many sources.Forex brokers often offer such trading contests.Their goal is to attract participants and gain online exposure and free publicity.The gain for any trader is experience and knowledge.Even if competition is tough and winners are only a few,trading in a contest can teach valuable financial lessons.But treat capital like real money.Just because in most cases you trade a demo account risk management rules should not be ignored.

Only gains and not just in money terms exist from such trading contests.And if you win then you can add this achievement to your trading career and goals.