#love to live in a world determined by short term profit margins of the ultra rich

[ohdeargodwhy]

[ourmrmel]

Mel Feller, MPA, MHR, Details Forex Trading Essentials.

Mel Feller, MPA, MHR, Details Forex Trading Essentials.

 Mel is the President/Founder of Mel Feller Seminars with Coaching for Success 360, Inc. and Mel Feller Coaching.  Mel Feller maintains offices in Texas and in Utah.

 If you are struggling to earn consistent profit in forex exchange market then try these simple but important currency-trading essentials because they are definitely going to get you substantial profit in forex currency trading market:

  Use Longer Time Frames – Part time forex traders generally think that they do not need to select longer periods for trade. In order to establish good forex trading strategy, you need to trade with longer periods. Longer trading time frames means that you have to study forex trading charts for the longer duration of time like for 2 or for 4 hours daily.

  Those traders who have effectively sized their trading positions can only give some time for your Trades to Work – This option. In currency trading market, prices of the currencies can fluctuate dramatically. While trading currencies in the market, traders need to be sure that they will get reasonable profit at the end of their trade. For instance, if you are trading in a market with 30pips stop loss then there are more chances for you to kick out of the currency trading market.

  Do not depend so much on Technical Indicators – Rather than depending so much on technical trading indicators, you need to follow major trends with the help of hop board and simple moving average. All successful forex traders does not completely rely on technical forex trading indicators because these indicators cannot accurately predict the future currency trading market as they are based on past events.

  Start Trading with Two Major Forex Currency Pairs – Beginner traders should always start with one or two major forex currency pairs. In order to get maximum profit by trading a forex currency pair in the market, you need to gather some basic data of the specific forex currency pair. Never trade with three or more currency pairs in the market because it will almost impossible for you to get necessary knowledge about each forex currency pair.

  Stop listening to the Trading Giants – The forex currency-trading world is full of forex trading gurus and trading giants. You can find these gurus and trading giants giving their free suggestions to immature traders on every forex-trading forum.

      Essential Tools Traders Need

  I am going to provide you with a checklist of sorts, that all traders need if they want to be properly prepared as they head into the market’s playground. Make no mistake about it, you are going into ‘a highly skilled arena’ each day, when you look for trades in the market, and you must be prepared.

   Trading platform and charts

  The first tool a trader needs is a trading platform and charts. Not just any charts however, you need the correct charts. This means you need New York close 5-day charts. This is a critical tool that you need in your toolbox because if you are not looking at the right charts, you are not getting the most accurate or clearest view of what is actually happening in a market.  

  A solid laptop

  The next tool you need to be sure to have in your trading tool box is a high-quality laptop. I recommend an Ultra-book because they are very portable and have a long battery life, this is a must if you want to live the coffee shop trader’s life.

  You do not need a 3-stack monitor or super computer. Think mobile and be mobile. I am mobile and I travel a lot, I love it; I can trade from anywhere in the world at any time I want. There is no computer desk or office that I am chained and tethered to.

  Now, while I do not endorse mobile phone trading, I know some of you do not have the financial means to afford the latest laptops or iPads. Therefore, you could perform your analysis and trade off a smart phone by using the Meta Trader trading platform app, but I just want to be clear that I do not encourage people to sit there all day on their phones, because the phone view is a distorted view of the charts. I personally do not like it because it makes it possible for mistakes to occur more easily. An iPad would be better than trading off a phone for example. Phone trading is the last option unless you really have no other means.

  Another tool that goes along with a laptop is a good Wi-Fi connection or mobile connection through your phone service provider. Obviously, for me, because I live such a mobile life I have a mobile data pack on my phone.  However, hotspots will work as well.

    Trading journal and spreadsheet

  The next tool you need is a trading journal and spreadsheet to track your trading performance. This is a critical tool that I have found many traders do not think they need or do not use after a while, and these are grave mistakes.  Please do not make this huge mistake.  Creating and maintaining a Forex trading journal is one of the most important pieces of the puzzle of professional Forex trading.

  The reason a trading journal and spreadsheet is so important is that you need something to keep yourself accountable to and keep yourself honest. Trading is a lone-wolf type of profession; it is just you and the computer screen / charts. Without forcing yourself to be honest and keep records of your trading performance, it really is only a matter of time before you veer of course and start making trading mistakes. Trading mistakes tend to snowball and lead to more and more mistakes, which eventually results in you blowing out your account. The trading journal / spreadsheet is like a wall you put up between yourself and all those trading mistakes.

   Risk Capital

  There is no doubt that you will need a bankroll. This may not seem obvious, but your money is a tool and do not let anyone tell you it is not. Without it, you have no chance of attaining success or teaching yourself real world trading. You need to look after it at all costs.

  Several factors tie in with your risk capital:

 You need to learn how to manage your risk capital, in other words, you need a money management-trading plan and the things that go hand-in-hand with them.

 How much to risk per trade

Position sizing

Risk / reward

   How much to risk per trade

  Account size is arbitrary in Forex because a Forex account is only a margin account, it’s only there to make the deposit / have a deposit to hold a position. Nobody who understands these facts would put ALL their trading money in their trading account because it is simply not necessary.  What you put in your trading account does not necessarily reflect all the income you have to trade and it does not reflect your overall net worth. In stock trading, you need a lot more money to control more money because there is less available leverage. Typically, if you want to control 100k worth of stock you need to have 100k in your account. Forex is much more leveraged as I’ve already said, and this means that to control say 100k of currency, which is about 1 standard lot, you only need around $5,000 in your trading account.

  Position sizing

  Position sizing is the glue that holds risk to reward scenarios together. Where most traders mess up in position sizing is in fitting their stop loss to their desired position size instead of fitting their position size to their desired stop loss. For example, say you are risking $100 per trade and you see a good trade setup. The only problem is that the most logical spot to place your stop loss is 200 pips away. This is a critical juncture where many traders make a mistake; if you need to place your stop 200 pips away to give your trade the best shot at working out, than you simply reduce your position size down to meet this stop loss size. So if you were trading 1$ a pip before, now you will trade .50 cents a pip, .50 x 200 = $100.

  Risk / reward

  The first thing that all traders should do upon spotting a price action setup, or any trade setup, is calculate the risk they will have to take on in order to give the setup a realistic chance at working out. Traders often make one or two mistakes when it comes to determining risk; they either define the reward first, which is a mistake born out of greed, or they put a stop loss on the setup that is much too close to the entry to give the trade a chance at working out.

  When learning to think in probabilities and to view the market in terms of risk to reward, it is necessary to calculate the risk on a trade setup first, then you can calculate the reward as a multiple of the amount you have at risk. By concentrating on the risk first, instead of the reward, you are making yourself more aware of the risk involved on each trade setup, instead of becoming fixated on how big of a reward you might make, as many traders do. This will also turn you into a “risk manager”, rather than a “trader”, the best traders in the world know that consistent trading profits come because of managing risk effectively, so consider yourself a manager of risk from now on.

  The next thing to do after you have identified a high-quality trade setup and marked the risk level on your chart, is to mark the reward levels as multiples of your risk. You want to draw a line at 1 times your risk, 2 times your risk, and 3 times your risk. These are the reward levels you will mainly concern yourself with, should you choose to employ a trailing stop you can use these 1, 2, and 3 times risk levels to begin the trailing process.

 Trading strategies

  Personally, for me, I use 3 or 4 main trading strategies or entry signals. This would be considered a non-physical tool as it is all in my head, but it is no less important than any of the other more tangible tools discussed already.

  Short Term Trading Time frames

  The most popular short-term periods for Forex trading are M30, M15, and M5 and M1. As a short-term trader, you need to make sure that your data provider is giving you real time intraday data and not delayed or end of day data.

  The lower the period you work with the more granular you can get and the more candles you will see within the daily data. For example, within a day, you will get six 4-hour candles, twenty-four M60 candles, forty-eight M30 candles, ninety-six M15 candles, and two hundred eighty eight M5 candles.

  Short Term Forex Traders

 A short-term Forex trader is one who conducts his trades intraday and closes out their position within a trading session or a 24-hour period. A short-term currency trader will typically open multiple trades aiming for relatively small profits from each trade. Successful short term Forex traders have back-tested their trading strategies, either manually or thru computerized back-testing software. The goal of many short-term day traders is to produce a steady monthly income based on the implementation of their strategy in the market.

  Best Short Term Trading Strategies

  Now that you are familiar with the short-term trading concept, we will discuss three trading strategies for implementing trades within this timeframe. We will use smaller period charts to illustrate the approaches and the trades will be discussed at the intraday level to demonstrate the full short-term trading experience.

  Short Term Support and Resistance Trading

 Support and resistance trading is one of the best ways to approach the Forex market in the short term. The idea behind this technical approach is to look for important levels on the chart and to trade a breakout from the levels. If the price action breaks a support level downwards, you should open a short trade. If the price breaks a resistance level upwards, then you should engage in the market with a long trade.

  The risk management rules of this trading strategy are very easy and straightforward. Simply put a stop loss order beyond the level, which you are trading. For example, if you trade long after a resistance breakout, you should place a stop order below that resistance level. If you are trading short after a support breakout, you should put a stop above that support area.

  You should use price action rules to determine your optimal exit from the trade. With a short-term trading approach, you want to get out of the trade quickly, and make sure you are not turning your short-term trade into some sort of longer-term position.

  This may seem obvious, but it is a very important concept to understand. Sometimes knowingly or unknowingly, short-term traders let their position get out of control, usually when they are losing. Moreover, when this happens a trade that was supposed to be limited to a daily session, has now turned into a big losing trade, which the “short-term” trader is still holding after a week or longer. So, know the timeframe you are trading and make certain you are placing your stop loss and take profit within your intended trading timeframe.

  While, these trading gurus might seem to be quiet knowledge but you should never trust them completely. A good trader should always believe in his forex trading education. A quality forex education will not only guide you about your forex trading goals but it can also be your best companion.

  In addition, practice first with a free trading account in order to understand the basics.

  Mel Feller, MPA, MHR, is a well-known real estate, business consultant, personal development consultant and speaker, specializing in performance, productivity, and profits. Mel is the President/Founder of Mel Feller Seminars with Coaching For Success 360, Inc. and Mel Feller Coaching, a real estate and business specific coaching company. His three books for real estate professionals are systems on how to become an exceptional sales performer. His four books in Business and Government Grants are ways to leverage and increase your business Success in both time and money! His book on Personal Development “Lies that Will Sabotage Your Success”. Mel Feller is in Texas and In Utah.

[endorsereviews]

Stephanie Nickolich – Passive Profit Mastery

Stephanie Nickolich – Passive Profit Mastery

Grab instant access to the 8-point proven system that I used to serve over 2000 clients, build 21 active sales funnels and collectively help clients generate over $30,000,000 in revenue this year alone.

This exact system can be replicated by you in just 8-weeks so that you too can have more time, more freedom, and more money! (and who doesn’t want that?) and here’s why you need it You are not nearing burnout, you are the very definition of it. You just don’t have the TIME to wait 5+ years for your business to make passive profits You are starting to resent this “entrepreneurial dream” You see how limited your earning potential is if you don’t automate..ASAP You hate having to chase leads, it’s exhausting! You love your 1:1 private or even group clients but more of those = more work (and headache) for you! You realized that you have capped your own income ceiling and you are ready to blow the top off.

YOU WILL GET TIRED (because you’re human) YOU WILL WANT TIME OFF (again because you’re human)

YOU WILL NEED “SICK DAYS” (yup, human again)

YOU MIGHT EVEN WANT TO TAKE A VACATION (because you’re a human who gives 100% to your family and business baby)

AND

YOU WILL WANT TO MAKE MONEY WHILE YOU’RE NOT WORKING (because those bills still have to get paid and you’ve still got to eat, right?!)

Hello, Unstoppable! I am so glad you have decided to trade in the endless entrepreneurial grind that you are currently stuck in trading dollars for hours and start moving hands on to hands off and profits on! This is the EXACT system I have used to create sales funnels that have completely transformed my business – only I’m giving you the fast-track, short-cut version I wish I had been given. This is the very same process I use with my High-end Sales Funnel Creation clients and I am sharing it with you, so that you can join us in the passive income corner (along with all the other the VIPS and online badasses). And, here’s something that you must know (just in case you’re still on the fence) The e-learning industry has been classified as a $107 billion a dollar a year industry and studies have shown that it’s likely to double this year alone. That means hundreds of millions of people are buying and consuming online courses, products, and programs more progressively than ever. Want the even better news? This is just the beginning!

So, why should you start creating digital products? Well for starters, leveraging your sales funnel is a way more sustainable and scalable model rather than working 12-16 hours a day serving one-on-one clients. Additionally it allows you to create more space for growth and profits, all while leaving a much larger impact on the world.

This system…. Takes YOU out of the equation, whether you work or not is entirely up to you. Gives you back your most precious commodity, TIME. Allows you to focus on what you LOVE without hustling for the crumbs. Generates continuous leads so you can focus on converting those that are already in front of you. Automates EVERY step of the process, so the only thing you have to do is click WITHDRAW.

Wish to be available 24-hours a day, 7 days a week to ensure that you get PAID Want to keep running around every Facebook group on earth and posting a gazillion times a day to keep generating leads. Like living day to day knowing that you only make money when you work. Don’t mind skipping time off for holidays and special events because that’s the only way you continue to generate income. Love the pressure of knowing that you have keep busting your ass to make $$$$ Here is your oyster, because once you automate the WORLD IS YOURS! Ask my clients what beats making money passively? ABSOLUTELY NOTHING So, relax knowing that… No matter what happens (Wedding in Bali, Shopping spree with the gals in Paris!) your system is running and generating income. That you are working for something ONCE that will keep on bringing you in revenue EVEN if you decide to shift your career focus. And yes, I’m talking every.single.day. Once you learn the system you can automate ANYTHING in any industry!

PRODUCT/SERVICE ALCHEMY In this module I share with you how to choose or create a product that will have super sell-ability in a passive purchasing market. (hint: you probably already have one and don’t know it!) Why a product, what products to create, and when that will leave your ideal clients hungry to buy! #1 Mistake you’re probably making that will kill your conversions and exactly how to change that in this module. The 8-point proven approach to profit producing products. The proper product formats that convert.

MARKETING MAGIC This is the foundation and where we go really big to set the stage for which everything else will trickle down: channels, platforms, social media, blogs – we figure out what is the best avenue for you to get noticed and start your residual revenue stream. Marketing vs advertising and how to use both to skyrocket your success. Platform perks for insane profitability. Social media for success – Minimal effort, maximum ROI (no one has time to waste) Email marketing automation for profit acceleration 90-Day Anti-Launch Countdown to Passive Profits Viral Visibility and Marketing Plan for Social Domination

LEAD GENERATION GENIUS This is where we build upon module two by showing you how to get from them seeing you, to engaging with your brand, and clicking the buy button! I’m talking to the tune of drinking mai tais on the beach while watching your passive profits grow. We’ll cover how to:

Convert cold, warm, and super hot leads into passive profits. The 4-point profit persuasion system that converts as high as 41% Psychological pricing structure for lifetime profits. Cash-boosting paid marketing methods that convert like crazy – $1 -> $8 Luscious Lead Conversion – how to determine the temperature of each lead and the highest converting offering. The sale success formula – known to convert 25% of even cold leads into paid buyers.

TESTING FOR GREATNESS Here I take you through all the steps required to test (and everyone needs to) so that you can find the winning formula that is going to take you straight to massive passive revenue. Together we’ll conquer:

Market Research Mastery What to Test, When to Test, How to Test and How long to test to Profit Passively Pilot Anti-Launch to Passive Profits

QUEEN OF CONVERSION RATES This week we’re having that FB Ads Convo you’ve probably been dreading (but know you need!) If the idea of Facebook Ads has made you want to down a cocktail (or five) up until this point, you’ll be pleasantly surprised at how not scary it has to be. This week I’ll teach you:

All the tips and tricks you need to create ads that actually get measurable results (meaning clicks on your links and money in the bank!) How to double, triple, and quadruple your conversions using proven split test methods (it’s easier than you think) Want to know what real estate and FB ads have in common? Location is everything! I’m going to show you when and where to place your ads to bring in profit for your promotion. The magic of audience insights (do this right and your ads will be served up straight to your ideal clients)

EVERGREEN MACHINE This is where we go through the process and connect all of the dots the previous weeks have led up to so we can flip the switch and start dancing. You’ve put in all the work, now get ready to reap the rewards! Together we’ll cover how to:

Map out your sales funnel (and who’s responsible for each step along the way) Advertise and optimize your opt-in to gain immediate traction Amplify your email series so that you can connect, engage and convert Implement to accelerate your growth with my powerful implementation acceleration video series which will make tech easy peasy.

ROCK SOLID SUCCESS STRATEGY This week we’re scaling your funnel success and setting it into motion with proven strategies that the pros use like timing, targets, placement, promotion, and profit margins. By the end of this week you should have one fabulous funnel. We’ll cover how to:

Set it and forget it with a formula that will help you set realistic goals and reach them! Apply proven funnel templates that I’ve personally used with hundreds of different business types and how to apply them to profit. Create a funnel frenzy and start automating your business to scale your success long term.

GOAL AND BUDGET BREAKTHROUGHS It’s time to set it and forget it so that you can rinse it and repeat it with dollar bills. In this final module we work backwards from your most elaborate financial goals and turn them into bite sized actionable steps that are ultra achievable. Once you implement the tweaks to your marketing budget your income levels can start to peak! Here’s what we’ll cover:

Setting up those low ticket price point products for high ticket rewards as clients make their way down your sales funnel. How to set your ad budget and when to make changes so you end up reaping massive rewards instead of flushing your cash. Measure your results and learn when and how to change if you aren’t getting the results you desire.

Stephanie Nickolich – Passive Profit Mastery posted first on premiumwarezstore.blogspot.com