Insurance Prices Driven Up or Down

Got auto insurance? Hopefully you do if you're operating a motor vehicle! For some the prices of auto insurance may be driven upward. Or, could this mean your auto insurance may drop in price? In the State of California, "pay as you drive" will mean each insured will pay based on the number of miles they drive. If you telecommute, that could be good news, but if your business relies on commuting a large amount of miles, or if you have delivery trucks you may not be so happy. It will be interesting to see how quickly this moves to other states.

Paying 10 Percent Commission Leaves You With MORE than 90 Percent

There are many biblical truths about money, but it's not enough to simply learn about those truths. In order to benefit from those truths, one must apply what they learn. Probably the most important biblical truth about money and prosperity is the fact that God expects us to give away 10 percent of our earnings, which assists us with prosperity.

The next time you think about tithing, or giving money away, think of it as paying God a 10 percent commission. In return He will bless you with much more than 90 percent! Since He is the source that blesses you with the ability to earn money, He certainly deserves at least 10 percent in return!

Come back again to Money Illusions to read our future posts about Money in the Bible. Until then, may you be abundantly blessed with prosperity, by returning at least 10 percent commission to God!

Identity Theft From a Wi-Fi Connection

Got Wi-Fi? Are you protected from hackers that may attempt to steal your identity from a Wi-Fi connection? Wi-Fi users can become an easy target for identity theft, even if you use Wi-Fi from your home. Many of you may perhaps already know this, but this is still a great video to watch to be sure you're protected. It only takes minutes for identity theft to destroy the unprepared.

Forex Reality Check

Forex trader wanna-be's often need a reality check! Reality check number one is that you will not become an expert overnight, in weeks or even months - and most likely never! I would however argue that perhaps one could master an apprentice level trading status in as little as "months" if the person had a personal mentor, trading at their side to guide them. Such is not the case for most, and even then it would still take years to master trading, depending on an individual's temperament. But realistically, most should never graduate from a 'demo account'.

One article I found I think said it best, "Forex, it cannot be traded by just anyone, it is a science, an investment science, a special logic of money flow and economic rules, it does not exist by default in everyone’s head."

In other words, it takes time and even then some will still not learn to become a successful trader. Special thanks to the Forex Dark Side for his shared wisdom, which is a great Forex reality check!

Forex Trading Drawdown

Draw-down is experienced by all traders at some time, and if a trader does not apply proper money management strategies and principles while trading, their account will not survive draw-down.

If you're planning on trading the Forex, you will absolutely want to understand the challenges with draw-down and how to reduce your chances of it eroding your account equity. With Forex, most people won't be successful, so for starters you'll want to have a full grasp of draw-down. Best trading tip would be to never progress beyond a demo account.

Stop Forex Trading Losses

If you've been practicing with a Forex demo account, and you've blown numerous demo accounts (like I have - lol), it's time to wise up and identify what you're doing wrong. Based on my own experience, I would bet you're caught up in the adrenaline rush of trading as a whole, and with that comes the desire to try to make big bucks with each trade, which is a volatile trading strategy.

The obvious downside to trading large lots is the fact that when things go the wrong direction, you stand to lose a large amount, risk the chance of a margin call, and your frustrations will get the best of you. I personally think experiencing margin calls within a demo account is a good lesson to learn, because you never want to have a margin call occur when trading with your real money!

The three Forex trading tips I've provided below are written with the assumption that you already understand what constitutes a buy market order, vs a sell market order, which is one of the first lessons you need to perfect. Once you get that down, then these three tips will be beneficial to you. So, in order to stop losing trades, here's some quick tips that I've learned from a demo account - first and foremost - DON'T TRADE WITH REAL MONEY! ONLY PLAY WITH A DEMO ACCOUNT:

1. Open trades in a small number of lots
2. Allow your profits to run long
3. Cut your losses short

If you follow those three quick tips, your trading should improve and you'll experience less frustration. By trading in small lots you will have smaller losses, assuming you allow your profits to run longer. Trading in too large of lots puts you at risk of having all of your available margin tied up, with no room to correct your error when the market goes the wrong direction.

For most, it's best to stick with just using the simulator and not go into real trading. It's not the same as trading stocks or commodities!

If you found those three Forex trading tips to be useful, here's a longer list of Forex trading tips, and an article on how to reverse your Forex losing streaks!

Happy trading with the Forex!

Forex Candlestick Recognition Dictionary

While studying Forex candlestick pattern recognition today, I came across a very good pattern recognition dictionary! It's one of the better ones I've found and I knew sharing it with you would be good, so here is the link to the forex candlestick dictionary. Happy trading! (Note, the dictionary originally linked to is no longer available.)

Forex Trading Failures

Are you wanting to trade currency on the Forex, Foreign Exchange? Did you know that the statistics for those who fail to make a profit trading is around 90%! Say what? Yeah, you heard that right - 90% of those who trade don't make it, because they don't make a profit.

If you're serious about trading, then how can you become one of the 10% who can make a profit? First off, start out with a free demo account, and trade with play money. You'll quickly learn that it's not as easy as it looks to trade, or not as easy as some will try to lead you to believe.

Beyond testing your strategies with a demo account, here's five reasons why 90% of traders fail. If you can learn the reasons why they fail, then you'll dramatically increase your odds of becoming one of the few successful traders. Okay, let's get started.

  • You must know what constitutes a buy versus a sell signal 
  • Stick to your trading methods that you know are successful, and don't deviate from them.
  • In your first year of trading focus on breaking even, because your profits will most likely be little.
  • The majority of the time there isn't a major trend change to follow, which requires patience!
Hope those five quick tips help, and if you would like to continue your trading education, a great place to learn from is ElliottWave.

Forex Trading Coffee

Although coffee is a commodity, the humor here is that you don't trade it on the Forex, but have you tried trading the Forex while having your morning coffee?

Warning... consuming coffee while trading may cause you to become too anxious to either enter the Forex market, or to make your exit. You may find yourself opening and closing trades at the wrong time simply because you're running on coffee - lol. Just a fun thought for the day.

Forex Traders Under Capitalized

Some of you know that I've been experimenting with Forex demo accounts, and that I'm in the process of determining which Forex Broker I'll go with - or not at all. During the process of learning from the demo accounts, I've come to understand that under-capitalization really is a killer! I've blown multiple $3,000.00 and $5,000.00 dollar demo accounts due to the fact that it is simply too little money to trade with. At the same time, I'm fairing well with a $10,000.00 forex demo account. (Good thing those were only demo accounts and only play money that I blew! LOL!)

If you're learning how to trade the Forex and think that you're a bad trader, perhaps it's really about being under-capitalized. It's very important to understand account values and lot sizes before you open a live Forex account, so you begin with the proper leveraging! Happy trading - or Happy Demoing!

Earn Money by Advertising on Your Car Etc

If you've surfed the Internet for any length of time you most likely have seen this so-called income earning opportunity, which pays you to place advertisements on your automobile, wear t-shirts etc with someones branding. Unfortunately, among the legitimate offers there are always other ones waiting to take the cash from participants rather than paying cash to them. Without naming any particular companies, the offer goes like this:

You register and sign up to advertise. In return you receive bumper stickers, window stickers, a t-shirt etc., all with the companies branding. So, what's the catch? You have to spend $20.00 for the kit when you register. Sounds more to me like a person paying a company to advertise for them, rather than the company paying to advertise - lol. Not exactly the way it should work.

Although there are probably legit offers out there to advertise for a business by placing their logo on your automobile, or by wearing a t-shirt etc., just remember that the real opportunities are not going to make a request for you to spend money to pay for their signage, or other logo material.

Just my two cents worth today in regards to the illusion one can get caught up with when pursuing extra income.

Forex Trading Behaviors

Do you trade the Forex or are you practicing with a Forex demo account? How are your trading behaviors? In other words, do you enter into a long position too high on the market pattern, or enter a short position too low? If you're human, you've probably experienced that challenge and get fed up with your Forex trading behavior - lol.

It's time to take a stand and get in control of the market, rather than allowing the market trends to control your behavior! Just a short forex lesson here that I've learned - don't be so quick to enter or to exit a trade! Take the time to study the various Forex time charts and periodicity to really take control of your trading.

Studying the various time charts and periods will enable you to recognize the forex market patterns and give you greater insight on what might happen next with the market, rather than allowing your emotions to cause you to trade with bad trading behaviors.

Hopefully, if you're like me you're using or have used a Forex demo account to learn from your mistakes, and to retrain your brain with proper trading behaviors. The importance of learning proper trading behaviors is to really train your brain! You'll want to be careful you don't repeat the same trading errors so the behavior doesn't become ingrained.

So slow down and examine what your trading strategy needs to be and put a stop to bad trading behaviors! That's it! Hope my little Forex trading tips help you with your trading! If this doesn't at least benefit anyone else, at least for me it's a lesson I'm learning myself. Happy trading!

Fix the US Economy With 40 Trillion Dollars

Recently there was an article titled, "How to Fix the Economy" which has been circulating through emails. It proposes for the US Government to pay 40 million dollars each to 40 million people over 50 years of age severance pay for early retirement. The article incorrectly stated it would cost 40 billion for the Government to do this, however the correct dollar amount is 40 trillion, not 40 billion! Did you get that message in your inbox, and did you catch the mathematical error?

Although the concept sounds great, 40 trillion dollars far exceeds our current national debt, so they would have to reduce the dollar amount significantly to make it work. To read the full story, you can check out Snopes.

Times are tough, and time will tell what will develop with our economy. In the meantime, if our Government wants to pay me a million bucks retirement severance, I wouldn't complain - lol.

The Balance of Money and Promises

For many things in life there must be balance, and it's no different for money, and the promise to pay back a mortgage or other type of loan. The balance of money and promises in the US has gone awry, causing our financial crisis, which of course has affected the entire world. So, what happened? For a quick understanding of what happened to our economy, this is a great visual aid, and done in a simple enough manner that even your teenagers will understand.

Although it's not a complete picture of what occurred, it provides an understanding of the major challenges leading to our current economic woes. One point not mentioned in this video is the fact that our economy was also affected by corporate corruption, causing much distrust for investing in company stocks, which also had a major impact on our stock market. There are of course other reasons for our economic woes, but again this is a great visual aid and explanation for a basic understanding.

The Get Rich Quick Money Illusion

A common erroneous perception or money illusion in our society, is the belief that a person can get rich quick. Although it may seem that some get rich quick, most often a person who seemed to get rich quick didn't do it overnight, but rather over many years.

Most of us live in a push-button society full of marketing gimmicks and marketers sensationalizing the truth, making it easy to be fooled into believing the road to wealth can be easy, quick, and painless, but nothing could be further from the truth.

Those who have acquired their wealth and who have become self-made millionaires did it as a result of many years of diligence and hard work, exceeding that of an average person. Quite simply, most take years to get there, and generally after failing multiple times prior to succeeding. There really isn't a get rich quick route, and most people don't persevere long enough to make it happen because something or someone discouraging them sets up a detour along their path to get rich.

The next time you are presented with a potential get rich quick opportunity, take a great deal of time to digest the information! Do extensive research and make sure it's not going to lead you down the path of a money illusion, resulting in much disappointment, and possibly a large financial loss that you may not be able to ever recover from.

Money Illusion of Flipping Houses or Realestate

What was once a potentially a lucrative idea, house flipping has become a nightmare for some. With the economic changes causing the realestate market to die, house flipping for many perhaps turned into a flop. With the significant drop in realestate prices in most of the US realestate market, the hope of the house flipper to make a profit has dwindled. Only the real savvy house flippers probably survived, but for the rest it may have only been an illusion as their house flipping has flopped, and they perhaps are now stuck with a mortgage for a much longer term than they anticipated.

To every nightmare there can be some whimsy or humor found somehow! If you like the topic of flipping houses or flipping realestate, then you might find "Flip or Flop Home Edition" realestate game to be fun, or you might want to try some other money games. Have to find some humor in life to make things go lighter! So, the question in regards to house flipping is, "Will it flip or will it be a flop?"

Money Game Resources

Learning about money is always funner if you can make a game of it! All play and no work you might say, so let's get started with some money games! Skill levels range from youngsters, young adults, and all the way up to money game lovers of old. Let's get started!

Practical Money Skills
Learn about money through a variety of money games and learn financial tips while playing a variety of money games. On their site you can play the following money games:
  • Take a Road Trip: The money game player learns about different income opportunities and proper spending habits along the way.
  • Ed's Bank: Great for teaching kids about money as they earn money for their piggy bank and then get to spend it at the store!
  • Smart Money Quiz Show: Start out with debt, but eliminate it as you answer financial questions correctly. Good for educating young adults about financial matters.

Learn How Various Countries Count Money

Consumer Cash Inconveniences

Paying for merchandise should become easier, not more difficult. As we move toward greater advances in technology surrounding the movement of money, merchants lean more toward credit and debit card purchases. As merchants gravitate toward preferring customers to use credit and debit cards, when a customer uses cash it sometimes seems they are less appreciated.

My habits are not to slam any particular retailers etc., so I'll leave the name of the retail establishment out, but I'll share my beef about the inconvenience to utilize cash with them. While in line to pay for my purchases the next available cashier waved me forward only to then find out she could not ring up my cash purchase because her register was only set up to take credit and debit cards. She then informed me I would have to wait for the cashier in the next lane to complete my purchase with cash, and then waved to the next customer in line. How annoying to be pushed to the side while paying for a purchase with cash!

Unfortunately, it's all signs of the times! Thanks to technology, cash customers are being treated in a less favorable manor compared to those who use credit and debit cards. Sure, I also have credit and debit cards, but for small purchases it's nice to just pay cash, but it is becoming a hassle to use cash with some merchants. It's also not fun to have your $100.00 bills examined as though you're passing counterfeit bills. Just my complaint for the day! Thanks for hearing my two cents worth!

The Value of the US $100.00 Bill isn't Worth the Hassle

Things are bad enough for the value of the US dollar these days, but the value of the US one hundred dollar bill seems to no longer be worth the hassle! Spending $100.00 bills is no longer an easy task as many retailers and merchants scrutinize your $100.00 bill before accepting your purchase.

Spending the US $100.00 bill has become a greater hassle than a convenience, since it's a favorite for the crooks who produce counterfeit bills. So the next time you get cash from your bank, think twice about the $100.00 bill unless you want to be hassled nearly every time you use it or have to wait for the merchant to use their counterfeit testing ink to validate your cash.

US bills in smaller denominations, have been one of the most widely used bills for counterfeiting $100.00 bills, so that's obviously why merchants and retailers scrutinize it before accepting it. As for me, I no longer want the hassle of using a $100.00 bill, so it will be $20.00's for me!

Slow Forex Market Anxiety

If you trade the Forex, you understand how frustrating it is when the market moves too slow. If you're normal - lol, you probably experience anxiety while the forex market is moving too slow, or if you're trading during a sideways forex market.

The danger though of a sideways or slow market, is that our trading emotions can easily cause us to make the wrong decision and get off focus from the position direction we hold. This has been a good lesson to learn as I trade with a demo account, and hopefully I'll learn how to deal with slow Forex market anxiety prior to opening a live Forex account!

Forex Market Price Pattern Resources

If you could foretell the direction of a currency pair, Forex trading would be easy. By learning the Forex market price patterns, you can in fact gain some insight as to where the market is going next.

Learning to recognize the market patterns isn't as easy as it sounds, but studying images of the market patterns will assist you. After doing a search, this was one of the better articles I found illustrating various Forex market patterns. The article also notes how to set up or place your trade entry for a specific pattern. Happy trading!

Cut Your Losses in Forex

As one learns to trade the Forex, it's very easy to fall prey to the emotional response to the market, but your emotions are your worst enemy when trading. As an example, when you enter a short position, and if the market went up - the wrong way, it's easy to simply think, "What goes up, must come down!" but with the market, what went up may not come down any time soon! You must know when to cut your losses!

Psychologically, we would prefer to think the Forex market will simply turn around quickly, but that's dangerous reasoning when trading. However, even if you have a large number of trades that start to go against you, if you learn to cut your losses quickly you can still be successful as a Forex trader. Sounds like an easy Forex lesson to learn, but it can actually be a tough one!

While trading the Forex, to implement proper money management, your number one rule should be to let your profits run, and cut your losses short. In the long run if your losses are less than your profits, you'll be successful at trading the Forex.

The Money Printers

Thinking back to when I was young and wanting to understand more about money I remember asking, "Why can't they just simply print more money?" Remember asking that same question when you were young? At first it seems like it would be the solution for a bad economy, but it doesn't work that way. Printing more money is not a solution to strengthen an economy, but in fact reduces the value of the dollar.

Unfortunately, our Government (our money printers) are thinking about money the wrong way, and they need to grow up! They have printed and released too much money to give us the illusion that it will resolve our economic woes. In this short video, Glenn Beck will bring some light to this issue of printing too much money, and how it devalues the dollar.

Trading Forex without Indicator Tools

Beginning to learn how to trade the Forex isn't easy. Indicator tools therefore become somewhat of a crutch, but there is a better way to trade! I've been practicing without using indicator tools, and I'm finding that it's far less stressful and helps to eliminate emotional trading decisions.

Eliminating the indicator tools forces a person to also learn price action, market pattern recognition, and candle interpretation. In the long run, you truly are better off if you can eliminate the market indicator tools. At this point I have made one exception, and until I become more proficient I've decided to continue using the Zig Zag indicator, which assists me with pattern recognition.

If you're going to attempt to learn how to trade currency on the Forex, I encourage you to become enthusiastic about learning price action, pattern recognition, and candle interpretation so you can become a better trader. If you are either thinking about trading the Forex, or have already begun, you might want to learn from some of my personal Forex lessons. Happy trading - or better yet, just stick with trading with a demo account, which equals zero losses in real dollars!

Forex Lessons in Summary

There are many lessons and tips to learn about trading the Forex. These 40 Forex trading tips and lessons are a result of what I've learned about trading, as a beginner, and from the use of a Forex demo account. So, if you are a beginner level trader, or thinking about becoming one, this list of 40 trading tips and lessons is especially for you! The list is not in any particular order of importance, and later I'll provide additional reading for many of these points.

1.    Appropriately select the right Forex trading platform, and preferably a Forex broker without a dealing desk.
2.    Select the Forex market indicator tools that work best for you, and watch their market signals.
3.    Realize that leading or lagging market indicator tools are not perfect, but still valuable.
4.    Learn to trust the market indicator tools more than your market fear, anxiety, or greed.
5.    Don't be anxious to enter a market until you have fully determined the proper entry point and direction.
6.    Don't allow your anxiety or greed to cause you to be anxious before you determine an appropriate exit.
7.    Admit when you're wrong and get out of a trade that goes awry before it gets out of hand.
8.    Test, and retest your knowledge and strategies with a demo Forex account before going live!
9.    Once you go live, test new strategies with your demo account, not with your real money!
10.  Strategies for scalping, intraday trading, or swing trading, must match your budget to avoid margin calls.
11.  Don't allow a winning streak to cause you to overlook your true percentage of winning vs losing trades.
12.  If you don't know how to trade, don't buy a Forex automated robotic software to do the job for you.
13.  Become proficient at proper entry and exits within a Forex demo account, before opening a live account.
14.  If you take a wrong position it's best to exit promptly and suffer small losses, rather than hoping for a market retraction, which could eliminate a large sum or all of your equity before the retraction occurs!
15.  Start small with the number of lots you trade, but think big since the Forex can result in exponential earnings, or losses.
16.  Lack of initial capital can make it difficult for swing trading in order to avoid margin calls, so plan on having a good sum of initial funds to open your account, so you're not undercapitalized.
17.  Your attitude about the Forex must be the same as a business mentality - you will experience both profits and losses.
18.  Study each time chart prior to entering a trade to confirm the direction and trend of the currency pair you've selected.
19.  Become proficient at trading one or several currency pairs rather than jumping around with a variety of pairs.
20.  The best time to trade is early mornings when the market has the most activity.
21.  If you trade in the afternoons, realize the market moves slower and may result in impatience.
22.  If your trades are not closed out the same day you entered, prepare for potential overnight losses.
23.  Take the time to evaluate the proper price to set your stop losses, take profits, trailing stops etc.
24.  Don't beat yourself up when you lose a trade, but rather re-evaluate why it happened and learn from it.
25.  Don't enter the Forex market with a "get rich quick" attitude, which could cause you to become too anxious to make money and result in making incorrect trade decisions.
26.  Don't allow anxious feelings to cause you to enter into a trade too early.
27.  Use your Forex demo account when you're unsure about your strategy so you only lose play money, not real money if you're wrong.
28.  A Forex demo account is the best place to learn from your mistakes so the price you pay for your mistakes is only lost time, and not money.
29.  A Forex demo account provides you with the ability to learn from indicator tools and your strategies, right or wrong.
30.  An important purpose of using a Forex demo account is to learn how to train and control your trading emotions, so you don't allow your emotions to control your trading, which will generally result in losses.
31.  One of the most difficult Forex trading lessons to master is learning to control your trading emotions.
32.  Trading the Forex naked (without indicator tools), using price action and pattern recognition helps to eliminate emotional trading decisions, and to increase profits.
33.  Trading the Forex based on price action saves you time, and helps to eliminate market anxiety.
34.  Always be mindful of proper money management while trading. Don't allow market greed to push you to trade too many units, or too large of a percentage of your equity at any time.
35.  Quit when you're ahead and take a break, it's not possible to win every trade.
36.  Realize that indicator tools will not teach you how to trade, but rather will be like a crutch.
37.  Learn to trade without indicator tools and learn to recognize candle patterns and market reversals.
38.  Don't be anxious to open a live account until you have proven your ability to be profitable by practicing with a Forex demo account, which works like a trading simulator.
39.  Watch to make sure your trading emotions such as anger don't take over and cause you to become self-destructive with your trading.
40.  Realize that your success with trading the Forex will depend a great deal on whether or not you can master your trading emotions, positive or negative.

Happy trading! This completes my list of Forex lessons and tips in summary, and I hope you found it to be helpful. If so, please leave a comment! Thank you!

Forex Broker and ForexTrader Platform Review

Selecting the best forex broker, and the best forex trading platform will be the most critical and important decision you'll need to make when you decide to trade currency. Your selection will make a huge difference in regards to your success as a trader, so be sure to take your time to determine which broker, and trading platform will best suit your needs.

Simply due to name recognition from years ago, the first broker and free demo account I decided to test was, which is aka Gain. After utilizing their free demo account, this is my personal review of and their trading platform, "ForexTrader". Please keep in mind my review is a result of my own personal testing of their free forex trading demo account, and not a live account using real money.

Since initially trying I've tested 3 other forex broker demo accounts, and have eliminated and their trading platform ForexTrader from my list of potential forex brokers and forex software trading platforms. Here's why I chose to NOT go with

1. Annoying Phone Calls Received from

Although I appreciate the business perspective of a company wanting to secure the business of a new prospect, multiple phone calls to that prospect are annoying. I received more than 3 phone calls from one of their representatives attempting to convince me to choose them as my forex broker. In one of the conversations I mentioned the name of one of the other forex brokers I was also researching and the rep then attempted to inform me as to why I shouldn't go with their service. Her tactics turned me off, but that was only one reason I eliminated from my choices.

2. Has a Dealing Desk

In that a dealing desk can affect my financial outcome, I decided to move on to other potential non-dealing desk brokers. No sense in having the odds of winning trades stacked against me!

3. The Price You See is Not Always What You Get When Closing a Trade!

I realize the market changes quickly, and often when a trade is closed it can be lower or higher than what you saw on the screen seconds before. However, numerous times while attempting to close a trade a prompt box comes up and indicates there is a price change. You then have to close out the prompt box before you can make another attempt to close the trade. I found this quite an inconvenience and a concern. Perhaps it is a result of what they do at the dealing desk? I don't know, but what I do know is that on one trade when I attempted to close out at $1,100.00 their annoying price change box came up and by the time I clicked it closed to again choose to close the trade, the value dropped down by more than $200.00. If it were real money and not a demo account, I would have been quite angry!

4. Antiquated Trading Platform, "ForexTrader" is Lousy

Their trading platform is not desirable, especially in comparison to more savvy forex platforms available. You have very limited graph selections, and very limited tools or other methods for customization.

What I Did Like about

Their reports I had access to for viewing my trades and account values, were well done. Other than their reports, I've ruled out as a potential forex broker. If they want to compete with the mainstream they need to eliminate their dealing desk, and update to a better trading platform!

Come back and visit again to read about my additional forex broker and forex trading platform reviews I'll post in the next several weeks. Happy trading - or better yet, stick with just a demo account so you don't lose real money!

Forex Swing Trading

Trading on the forex (foreign exchange) is exhilarating! I've been practicing my forex entry and exits, and I'm becoming much more proficient at swing trading. At first I didn't practice much swing trading because my main focus was on learning the proper entry and exits, so I was scalping.

Now that I'm learning more about applying the Elliott Wave theory, it also makes swing trading a greater opportunity for profitability, with less profit loss, but it will take some time to learn how to recognize the forex market wave patterns. It's quite fascinating to say the least!

Scalping is the easiest to learn initially, but scalping takes a great deal of time to make the right entry and exits. Also, some brokers will not allow you to perform forex market scalping, so swing trading resolves that issue. If you plan to do scalping, you'll want to select a broker who is okay with trade scalping. However, keep in mind that swing trading is more profitable with less work and time at the computer.

Swing trading provides you with the ability to get away from your computer with peace of mind that your trade won't go awry, that is of course assuming you properly set your stop loss, take profits, trailing stops etc. I'm having fun learning the forex, how about you?

Forex Scalping Allowed

If you're looking to trade currency pairs on the forex, you will need to determine what your trading strategy will be, and select a broker that fits your trading style. For example, if you're planning to become a scalper you will absolutely want to make sure the broker you choose will not only allow scalping, but not frown upon you for doing so.

As I'm in the process of determining which forex broker and forex software I'll be going with, I'm also researching which brokers will allow scalping. Some of my trades I'll plan to scalp, while other positions I'll be holding longer. But seriously speaking, just using a demo account is satisfying from the standpoint of curiosity, and far less costly! It only takes time, and not real money!

Keep in mind that some brokers do not want scalpers because they feel it cuts into their potential profits, therefore if scalping the forex is a strategy that you wish to implement, then you'll want to choose the right broker!

Forex Play Money to Burn

The vast majority of people don't have money to burn, but if you make use of a free forex demo account, you'll be able to do just that - burn money! If you plan to trade currency you'll absolutely want to begin by using a demo account, or numerous demo accounts to test your trading skills, and to determine which forex trading software will work for you, and which broker will be best for you.

Before you get too excited about jumping into trading currency, you must be aware that like anything else that involves an investment of capital, you can lose a great deal of money if you're not careful. The upside of course is that you can also make a great deal of money by trading currency on the forex. Volatility is a word that should come to mind as you determine if it's right for you. In my first post about the forex, I mentioned some things I'll be sharing with you about the forex, so let's get started!

First off, I'm by all means no expert, but that's the advantage here for you if you're not either, because I'll be explaining things in an easy-to-understand manner for the beginner. I've found much information online about trading on the forex, but some is written in a too well advanced manner if you're a beginner like myself.

To begin your forex journey, you'll want to determine which brokers you may consider. The first thing you need to keep in mind is that you will need to select a broker where you reside, not in another Country. Therefore, you should only select a demo account from a broker you would possibly consider.

Once you select a forex brokers demo account, the fun with play money begins! Keep in mind that the play money forex demo account will enable you to trade large amounts of units, which may far exceed the working capital you will actually have if you should decide to jump into the live currency exchange market!

Be conservative with your approach even while using the demo software. In other words, trade currency in the number of units that would be realistic for what your amount of capital will allow you to trade. That way when you suffer a loss you'll know a realistic amount for the profit loss, and when you profit you'll know a realistic amount that you would profit. Make sense?

Secondly, remember that your goal of using a forex demo account is to enable you to learn to trade, and that what you earn or lose is not the important factor, but instead learning to trade! Of course you'll want to learn to become proficient with your trading, but the point I'm making is that the forex demo account is where you need to learn from your mistakes! So, have fun with it and don't get too hung up on how much money you lose, or how much you gain. Instead let your focus be on what strategies enabled you to win, or caused you to lose.

Trading currency on the forex is not something that a normal person can learn overnight, but rather over weeks, and most likely months, depending on your aptitude and time you have to invest in learning. Therefore, be patient and don't be anxious to switch from a forex demo account to a real live trading account! It will take time to learn!

Online Coin Game

Money is a fun topic to discuss with kids, and should be taught at an early age. One way kids love to learn about money is through games. Here's an online coin game you and your kids could have fun with! You might also want to check out the opportunity to teach them about counting change with coins and dollar bills.

Forex Sideways Market

Earlier today I shared my first post in regards to the forex market, and promised to share some of my experiences. Today my experience has taught me to stay away from the a frustration I learned yesterday - don't trade during a sideways forex market where most currency pairs neither go up or down! The lesson I learned yesterday was repeated today, and now I finally have it in my brain that it's simply best to not trade during a sideways market - lol!

Although I made some profits with my forex demo play money account this morning, attempting to participate in a sideways market made it difficult and resulted in greater losses.

Best lesson to learn from a sideways market is that you will have a difficult time determining what the tool indicators would normally forewarn or alert you to do! So, I have made the decision to stay out of a sideways market, which I believe is a good thing!

Learning Forex to Trade Currency

Years ago I wanted to trade currency on the foreign exchange, but avoided doing so due to too many distractions in my life, and not enough capital to give it a serious shot. Now that timing is better, I've recently began training and learning how to trade currency on the forex, and wanted to share the opportunity with you.

No, I won't be advertising or pushing a particular broker, but I will share with you what I learn along the way from using the demo forex software platforms various forex brokers offer. I'll also share with you some of the information I learn about the technical market indicators that provide vital signals and status for a currency pair at any given time.

With that being said, let me first begin by mentioning that you can begin trading on the forex with very little capital, but you can also end up being undercapitalized, just like with any other business. Although many brokers will tempt you with how little you can get started with, such as only $200.00, it really doesn't make much sense to start with so little unless you only want to make pennies on the dollar.

Even though timing may not be right for you, I encourage you to give numerous forex demo software programs a try because the learning curve can be steep. Most importantly, it's far better to burn through play money as you learn the forex rather than burning up your real money! Learning how to trade currency on the forex is a great amount of fun, but you must remember it's serious fun if you plan to move from a demo account using play money vs your own money!

For today, I'll leave you with that, but be sure to come back and learn about the forex software programs I'm testing, and my findings as I add new posts on this topic in the days to come. Happy currency trading to you!

USA Plans to Shrink and Tear Down Cities

Have you read the latest headlines? Due to economic conditions, the US Government is planning to "shrink down" some cities by tearing down buildings and homes! Professed to be a plan to save economically busted cities from going bankrupt, one has to wonder if instead this isn't yet another ill-maneuvered plan from the US Government, since they'll be buying up the homes and buildings for a bargain.

One city of concern is Flint, Michigan where a new state law passed a few years ago will now allow local governments to buy up empty properties cheaply! As if the bailouts were not enough, now our Government will be buying up homes and cities! When will it end!

If you haven't heard it on the news, you can read about it from a UK news site, the Telegraph, yes of course, because our Government wants to keep things quiet you know!

Money Tree Game

If money grew on trees then life would be much easier! Unfortunately, money does not grow on trees, but there is a money tree game you can play! With Money Tree you can earn money (sorry, only for play) by picking and selling fruit. Yeah, I know some people really do pick fruit for money, but this way you don't even have to get your hands dirty or stained. Have fun with the Money Tree game, which also offers a free trial. (Edit: Sorry, but I'm no longer sponsoring the link to the site for the game, but you can do a Google search to locate Money Tree games.)

Becoming Debt Free

There are many things in life that one may consider to be an adventure. For most, working toward the goal of becoming debt free is probably not considered to be an adventure, but it probably should be!

The goals we set are generally easier to accomplish if we have the right attitude as we set our sights for accomplishing the goal. So, think again - becoming debt free IS an adventure! If you think of it as a journey and adventure, it will add an element of fun to your goal, which will make it easier to achieve. So go ahead, and make your debt free goal an adventure! All it takes is a change of attitude!

Money Game for Kids to Count Money

Teaching children about money is important to do from an early age. Hands on training for spending money is a very good lesson for any child when you go to a store to make a purchase.

An easy way to train a child on how to pay the correct amount of money for an item, and how to be sure they receive the correct amount of change is to use the money game program. The money game program has three skill levels to learn from, and is a fun way for your child to visually understand how to use money to pay for an item.

The easy level will show them how to pay for an item, while the advanced levels show how to be sure they get the right amount of change. While training them with the advanced level, they'll learn the importance of knowing if they receive the correct amount of change from the clerk, rather than just assuming they do.

The image is from the money game program (link is no longer online).

To solve quizzes from the money game program, you simply drag the correct amounts of dollars and change into the right field, and then click done when you have completed each quiz. It's fun to use and a great tool for teaching your kids about money. Have fun with the money game program!

Phishing Scams Information

Phishing scams are a threat to our financial security, and serve up just what the crooks are wanting - your identity, passwords, and most of all, your money!

For a quick 3 minute lesson to guard yourself from phishing scams, take a few moments to learn about phishing scams in plain English. You may also find our phishing scam tips to be helpful for avoiding online phishing scams.

Illusion of Wealth from Debt Accumulation

Debt is a challenge for people from all walks of life, and from many different countries. An illusion of wealth is often created when individuals purchase homes, cars, boats, or other consumer goodies, which extend beyond their budget and financial resources. Unfortunately, in the United States as well as other advanced countries, the media pushing consumerism pressures individuals to purchase more than they should.

As we mature in age we learn that we can live without expensive cars, gadgets, designer brands, and other goodies that cost too much. Living up to a specific standard of living often costs one far more than they realize until it's too late, resulting in financial resources being swallowed up by debt rather than being saved or invested for future needs.

Speaking from my own experience, one of the best ways to force yourself to live within your financial resources is to utilize same-as-cash strategies for making purchases of consumer goods that you may feel you need. By limiting your consumer purchases to what you can only pay for over a short period of time, you'll be less susceptible to falling prey to creating an illusion of wealth due to pressures from our society and commercials.

The added benefit is that true friends will enjoy your company because of who you are, and not due to an illusion of wealth you may have portrayed. Of even greater importance is the fact that you'll learn to love yourself for who you are as a person, and not for what your economic status may be.

Google Satellite Could Catch a Thief

Like anything else, technology has it's pros and cons, but if it could catch a thief then it's even better! If you've utilized Google Maps you've most likely discovered the ability to zoom in and view images of the street, houses, cars, and even mailboxes photographed by Google.

While looking up an address with Google Maps, I discovered a row of mailboxes that appeared to have been tampered with as the mail was shown scattered below the mailboxes, and some of the mailboxes were open. Below is the image from Google Maps street view zoomed closer to the mailboxes.
Assuming someone had tampered with the mailboxes, and stolen mail, the thieves missed their opportunity to be photographed by the Google satellite - lol!

Perhaps if those homeowners had used a locking mailbox their mail would not have been scattered on the ground, or stolen by a thief, but even a locking mailbox does not provide complete protection since thieves will also break locks. Is one of those mailboxes in the photograph yours?

When a thief strikes a mailbox, may the Google Maps high-tech satellite, or ground street view team catch them in the act!

Chasing After Money in a Black Hole

Money often escapes the grasp of some who pursue it, but then there are those who have it within their grasp but are unable to spend it. In this humorous video find out how one man's pursuit of money leaves him unable to go shopping - lol.

Americas Cheapest Family Shopping

America's cheapest family saves over 50% on their groceries each year. Follow some of these grocery shopping tips for some penny pinching tips. Meal planning, shopping for the best bargains, using coupons, and even using the right communication saves this family dollars each year on groceries!

Bait and Switch Money Illusion Tip

If there was ever a deceptive marketing illusion that a retailer pulls off, it's probably the bait and switch technique. With the current state of our economy, many retailers are desperate to bring in the money, and may use the bait and switch technique to increase their revenues. Will you be watching your dollars, or will you become a victim of bait and switch?

You may not be familiar with the bait and switch technique. If you do understand what it is, it's still easy to become a targeted consumer. The Federal Trade Commission (FTC) makes it clear that bait and switch is a deceptive practice, but ultimately you as the consumer are the one that needs to keep an eye on your pocketbook!

Bait and switch occurs when a business advertises a specific product but then fails to provide either that product, or a substitution of the same quality and price, and steers you to purchase a more expensive selection. Their hope is that the consumer will pay more for the substitution, but that is an unfair practice, and according to the FTC bait and switch is a form of fraud.

A recent experience of my own will serve well as an example of a potential bait and switch technique. While at a restaurant my friend and I each ordered a glass of wine. The server returned to our table to let us know they were out of what we selected, and she offered a different selection in it's place, and without providing any information as to any price difference. The assumption a consumer will make would be that the store, retailer, or in this case restaurant, would charge the same amount.

Understanding bait and switch, I was careful to examine the bill before paying, only to discover that they were going to attempt to collect several more dollars than our original selection would have cost. In that they offered it as a substitute I insisted that they honor the price of our original selection shown in the menu and they agreed.

However, what about their other consumers who didn't pay attention or understand a potential bait and switch technique? Obviously they'll probably pay more without even realizing what occurred. My hope is that by reading this article, you can save some extra dollars by not becoming a victim of bait and switch, which is a money illusion!

Scam Artists Online Steal Your Money

Online scams are promoted from various approaches, and it seems there isn't any industry, service or product line that is immune to scams. If you've spent any amount of time online over the years then you already know that to be true.

The crooks will also use online dating services to try to get what they're looking for, which is generally money. Some of those scams start with tons of flattery etc., to attempt to gain a persons interest, and then their trust in order to follow the scam artists instructions.

Here's an example of one of the scams that starts out like this: "Do you know what it is like to look up into the velvet night sky, and yet not see the stars? Do you know what it is like to see the song birds sing their sweet music, and yet not hear their sound?..." It goes on for quite a few paragraphs and is generally sent via a private messaging system or chat line. What would a scam artist do with such a story? Here is an example of what one dating scam artist did with the above story to extract money from people.

As you read the story at their website about the dating scam artist keep in mind that photos and/or names they use are probably not their real photos or names. After all, why would a scam artist want you to know what they really look like? They wouldn't!

One last point to keep in mind is to never give out your email address when you could instead just use the private messaging service within the online service you may subscribe to. Plus, avoid falling for the scam artist's who want to send you a photo via email that they are not willing to post within their online profile. Stay safe as you protect yourself from dating scam artists!

Charge Card Skimmers Ilusion

Money illusions are everywhere, and the identity thieves are experts at creating an illusion to obtain your credit card numbers and pin numbers. Earlier this year we made our readers aware of the debit and credit card readers that are fraudulently placed at your local ATM machines and other locations.

Recently another incident of this form of identity theft has occurred and was reported on the Money Safe on Q13 Fox News. The readers are known as "skimmers", and unfortunately are relatively easy for the crooks to obtain. But, if you're armed with the knowledge of what to look for then you will be able to protect yourself from potential fraud.

Skimmers and credit debit card readers will possibly show up at your local ATM or other location! Will you be aware of what they are? If not, you may become a victim of an illusion - the illusion created to make you think they are legit when they are in fact not. Stay safe and learn about the card skimmers.