Secrets to becoming a profitable trader in the forex market

Every single day the number of retail traders in the forex market is increasing at an exponential rate. If you look at the professional traders then you will see that every single one of them is trading the live assets after learning the market basics perfectly. Unlike the professional traders at Saxo, the novice traders consider forex trading as a get rich quick scheme and ultimately lose money in real life trading. Forex trading Singapore is very much popular nowadays since most of the retail traders are well aware of the profit potential of this high leverage market. Though the market offers an extreme level of profit potential but the success rate in the forex market is extremely low. In this article, we will discuss the secrets of becoming a profitable trader in the market.

Solid trading discipline: The forex market is a high volatile market and in order to make a profit in the financial market you need to have a solid trading discipline. Most of the novice traders are losing money in the financial market since they don’t trade the live assets with strict trading discipline. The experts in the forex market always execute their orders by following proper trading discipline since they know this is one of the key ingredients to remain profitable in the forex market. If you look at forex trading Singapore then you will notice that the rookie traders are even making a decent income at the end of the month due to their strict trading discipline. So if you think trading as your full-time profession then make sure that you trade with an extreme level of discipline.

Develop a solid trading system: Every single second the price of certain assets in the financial second is changing. The professional traders use this fluctuation of the price and make money in the online trading world. Forex trading Singapore is now very much popular since most of the traders know very precisely how to execute the perfect orders in the market. But in order to develop a perfect trading system in the market, you need to have a very clear understanding of the financial factors and technical analysis. Try to read as many articles as you can since it will enhance your trading knowledge in the market.

Perfect risk management factors

Some of you might often ask is there any holy grail in the forex market. The simple answer to this question is, YES. In the eyes of trained professional perfect risk management factors is considered to be Holy Grail in the forex market. As a professional trader, you should always make sure that your winners are bigger than you losers in the market. Most of the novice traders in the financial market tends to lose their patience and trading discipline after incurring few consecutive losses. But if you look at the expert traders then you will notice that every single one of them is following proper risk management factors in every single trade since they know it’s the key ingredient to becoming profitable in the long run.

Summary: Trading the financial instrument is an art and it requires pin perfect execution of the trading plan. If you truly want to become a professional trader in the forex market then make sure that you follow the above-mentioned tips in this article. It’s true that you will often have some losing orders in the market but you need to make sure that you are still holding your trading discipline very strictly. And always try to trade in favor of the long-term trend in the market with price action confirmation signal to reduce the risk exposure.

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Delicious And Affordable Dishes From Themed Eateries In Singapore

Did you know edible helium balloons ever existed in Singapore? Well, it does! It exists along with other unique dishes offered at themed restaurants and cafes. Themed eateries usually go above and beyond the average dining experience.

If you are looking for something that steps outside of the box, keep your self entertained at these four establishments:

THE FIRST OF ITS KIND

In most situations, we bring more importance to the first and recent thing that we encountered. This is called the Primacy and Recency Effect. Let us pump up the accelerator on the Primacy Effect as we dive into a pioneering cafe, which showcased a massive collection of board games in Singapore. This cafe is none other than the Settler’s Cafe.

Settler’s Cafe has a collection spanning across its 14 years of existence. From trendy games such as the Game of Thrones Monopoly to the classic games such as Cluedo, you can always find something to suit your preferences.

Image Credits: facebook.com/pg/SettlersCafe

Image Credits: facebook.com/pg/SettlersCafe

What’s more? You can enjoy an hour of competitive game without having to break the bank! Go for the Chicken Chop (about S$9.90) or the Dory Pasta Spaghetti (about S$10.90).

Location: 39 North Canal Road, Singapore 059295

I’LL BE THERE FOR YOU

As a certified television enthusiast, there are some shows that I can watch over and over again. One of my all-time favorite sitcoms is F.R.I.E.N.D.S. To my delight, founder Lim Jit Min has curated a cafe focusing on the wonders of the said show. The loyal following of this sitcom was highlighted as the cafe was made possible by crowdfunding.

Relive its hit set by taking a trip into the Central Perk Singapore. The interior of the cafe has been intricately designed to recreate the overall vibe of the show. Aside from its hip interior, Central Perk Singapore shines due to the quality of the food and beverages. A proof of that is the recently introduced “Edible Helium Balloons“.

The average price of a complete course can cost you about S$50. Nonetheless, Mrs. Braverman’s Cheesecake (S$12) is the pocket-friendly dish that you must try!

Location: 01-01 Central Mall, 1 Magazine Road Singapore 059567

JOURNEY INTO THE WOODS

Take an aesthetically pleasing journey into the forest as you enter the wooden door of Windowsill Café. When I say forest, I am referring to a couple of trees in the corner and wooden furniture. Not to mention, there is a teddy bear in the middle of the place. Take these all in!

Image Credits: facebook.com/WindowsillPies

Image Credits: facebook.com/WindowsillPies

The brains behind Windowsill are two brothers named Jonathan and Sean Gwee. Food has been their longstanding passion as they operated some food stalls from Pandan Valley to Takashimaya. Their pies and tarts are crafted in the finest manner with each one being sold at approximately S$8 per slice. Do not skip on the highly-recommended flavors such as S’mores and Banana Cognac!

Location: 95 Soo Chow Walk, Singapore 575382

FALL DOWN A RABBIT HOLE

As a curious child, one of the several tales that I gravitate towards was Lewis Carroll’s “Alice’s Adventures in Wonderland”. I guess the owners of the Hatter Street felt the same way too. This whimsical and bright cafe centers on all things related to the “Wonderland”. The walls were decorated with large stickers of creatures having tea or huge teapots. This is clearly a reference to Mad Hatter’s tea party.

Image Credits: facebook.com/HatterStreet

Image Credits: facebook.com/HatterStreet

For people who are fond of the flavor Cookies and Cream, you will enjoy the Oh My Tian Brownie (S$7.50) which playfully fuses a generous scoop of ice cream and a soft brownie. Talk about the goodness that hot and cold can bring.

Location: Block 212 Hougang Street 21 #01-333, 530212

What restaurant or cafe looks most interesting to you? Can you recommend other themed eateries with inspirational interior? Leave a comment down below!

Sources:  1,  2, & 3

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Exploring different types of high-quality trading strategy

Trading the Forex market is all about triggering your brain in the right path. When you are in the Forex market you should be capable enough to think all the aspects of trading. You cannot just look into one factor and enter the trade because the market is highly competitive. You would have searched through many articles and books related Forex strategies but make sure the strategy you use should be something which works for you. As an example, the price action strategies can be suitable for ‘X’ traders and it cannot be suitable for ‘Y’ traders so it all depends on the individual’s preference. Not only Forex strategies but also Forex brokers are to be considered wisely but when selecting the Forex brokers it will not depend on the individual preference because the skillful best IB broker is the only choice for all the professional traders. We will help you to get some knowledge on the strategies by jotting down a few strategies.

A few strategies you should focus on

The Blade runner strategy- The Blade runner strategy is one of the best which is suitable for any timeframes and any currency pairs also it’s an exception for EMA crossover. It can also be considered as the trending strategy. However, most of the novice traders in the financial market often overloaded their trading charts with indicators and ultimately fails to execute the best possible signals. So if you truly want to become a professional trader then make sure that you are not trading with the indicator based trading system in the market rather use the indicator as helping tools.

Fibonacci Strategy- these includes the Fibonacci retracements, extension along with monthly, weekly, daily and yearly pivots. This strategy can be used in long time frames. In the eyes of the trained professional Fibonacci trading system is considered to be one of the most profitable trading systems in the world since it allows the trader to execute their trade with minor retracement of the trend.

Forex Fractal strategy- this is not only a strategy but also the market fundamental concept which makes you understand the movements of price and the reason for the movements. However, before you start trading the market using the fractal indicator make sure that you have a clear understanding about the support and resistance level in the market.

If you are not thorough with the strategies you should understand that the introducing broker is there to help you to move your Forex career in a successful manner.

Bollinger Band Bounce strategy- this is the ideal strategy to be used on the ranging market. This strategy is used to confirm trade signals too. The professional traders use the Bollinger band support and resistance level in the market to execute high-quality trades in the market. But if you truly want to make money consistently then make sure that you use the price action confirmation signal in the market.

How to implement the strategies

Actually, you can trade many articles and books related to Forex but none of it could show you the 100% accurate way to find profitable trades. In the Forex market risks are high and it always deals the win-win scenario so even if you implement the best strategy there are chances to earn losses. So you should learn the art of trading perfectly so then you will be able to decide the market movements in a better manner.

The methodology is essential

You should have the consistency methodology to trade Forex. As traders, you should have your own way to trade Forex; if you consider the pro traders they obtain greater trading platforms from best IB broker. So if you truly want to develop a solid trading career in the forex market make sure that you develop a solid trading strategy and execute your trading in the professional trading environment by following proper risk management factors.

Summary- you pick a strategy, you find the best broker and once you land on a profitable trade then you are ready to earn profits. Earning profits in Forex market is not something unachievable but you need a little effort gain success. If you are ready to exert the power then you will obviously come to a good position in the Forex market. When you read Forex articles it gives you an edge to trade Forex. The market of Forex is all about dealing the risks of the market.

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Overcoming 3 Financial Issues That Young Singaporeans Face

We encounter several new hurdles as young adults. We no longer receive a daily allowance from our parents and we have to pay the bills. Not to mention, our financial capabilities are seemingly low at the start of our careers.

On that note, here are three financial issues that young Singaporeans face and ways to overcome each one…

ISSUE #1: LACK OF FINANCIAL KNOWLEDGE

We cannot deny the fact that personal finance is rarely taught in schools. According to Kevin Gallegos, a consumer finance expert at Freedom Financial Network, the Millennials’ crying need for more financial literacy cannot be overstated. It is never too late! Financial literacy is something you shape through conscious effort, much like learning how to write.

Image Credits: pixabay.com

Image Credits: pixabay.com

Young adults must take the initiative to educate themselves about the important topics surround money. These topics include budgeting monthly expenses, saving for retirement, and managing student loans. Following an online resource like MoneyDigest.sg or MoneySENSE.gov.sg can provide the foundation for you to learn the basics.

ISSUE #2: HAVING A LOW INCOME

Unless you are an heir to a successful company, the start of your career marks the time when your finances will be stretched. Having a low income impacts your ability to fulfill your primary needs such as food and shelter. Proper allocation of funds can help improve your situation.

Young Singaporeans shall distinguish between the needs and wants. If your income is not sufficient to address your primary needs then, you may consider taking a part-time job or freelance projects. Alternatively, you may eliminate unhealthy (and costly) lifestyle choices such as smoking. Imagine how much cash you will exhaust in a week if the price of a package of Marlboro cigarettes is about S$13!

ISSUE #3: CONFUSION BETWEEN SAVING AND INVESTING

Young adults are often experiencing a mix up between saving and investing. The idea behind it is similar, but the “mechanics” are different. Both involves the act of setting money aside for future use. The former is allocated after meeting your fixed and variable expenses. While, the latter is allocated if you want to grow your savings. Maintaining a realistic balance between these two is crucial for wealth cultivation.

Do not be afraid to read about investing as the power of compound interest works in your favor at the present time.

Image Credits: pixabay.com

Image Credits: pixabay.com

To conquer the challenges that young adults face, they must educate themselves about personal finance. This will help them manage their spending habits, repayment of student loans, and so on. This is a great start to your financial journey.

May you have the confidence to overcome each financial issue ahead!

Sources: 1 & 2

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How To Efficiently Declutter Your Personal And Financial Life

The perfect time to organize your thoughts, to arrange your bills, and to declutter your home is NOW! Here are five strategies that you can start with:

CLEANSE YOUR PHONE

We are constantly glued to our devices. I do not mean to be a bearer of bad news, but your devices are not entirely sanitary. Various researchers have found Escherichia coli bacteria, Streptococcus, and other pathogens living on mobile phones. It is important to employ measures to keep yourself healthy and to minimize medical bills.

One of the first few things that I do upon coming home from work is to cleanse my phone. I grab a couple of cotton pads and spray it with Isopropyl Alcohol. This helps me disinfect my phone as I am constantly in contact with relatively sickly children. You can adopt this habit too!

FLOSS YOUR PEARLY WHITES

Many experts encourage the importance of flossing in one’s daily grooming routine. A floss is designed to reach between the gums and the teeth. It acts as an efficient tool to lower the risk of gum disease, tooth decay, and periodontal disease.

You do not want to go to a job interview with a flaming bad breath!

PURGE YOUR ITEMS

Are you getting trapped under a mountain of rubbish? Tidy your space by practicing the one-item-in and one-item-out policy. This policy works by bringing a new item in and dropping an old item out. You can either donate, sell, or throw the old item. Doing this regularly will improve both your financial and mental health.

ORGANIZE YOUR BILLS

Never forget where you put the bills or when their due dates are by designating one place for them. You read that right! You have to decide whether you are going to file all your bills in a tangible box or in a computer folder.

Some bills arrive by electronic mail while some arrive by postal mail. Printed bills must be kept in a labeled box. While for virtual storage of bills, make scanned copies of those that arrive in the mail and put them into a labeled folder in your laptop.

EASE YOUR MIND

Create a healthy division between your work and personal life to lessen your stress. For instance, my co-worker does not respond to the client’s calls after 7 PM. You may do the same thing, if necessary. Another way to keep your mind at ease is by not checking your email before you go to sleep.

Image Credits: pixabay.com

Image Credits: pixabay.com

It is inevitable to spot a message that will your mind buzzing all throughout the night. Furthermore, it may make you anxious to go to work the next day. Do you want that to happen?

Sources:  1 & 2

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