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What do candlesticks tell us about Forex

We have seen a gradual improvement in the Forex market because it easy is a profitable market. You should think why new people enter the Forex market but then again, why don’t new people succeed in the market? We can also witness a gradual increase in the number of people who are interested in price analysis. This has changed the viewpoint of investment in the community. We can prove this statement by giving examples such as, there are different types of charts to summarize the technical price but among them, the most effective one is the candlestick chart. Because these charts are more informative, bullish and bearish markets can be traded using the candlesticks. The Singaporean traders are skilled in handling the candlesticks because they have they have the experience. Now, let us read.

Before we go into the details you need to know that candlestick trading is often known as price action trading. Price action trading is often considered the most reliable and simple trading system in the world. But this where the most retail traders make mistake. They blindly follow the price action pattern and take a huge risk in each trade. But you need to understand the fact that no system is perfect. You will always have to face some losing trades even though you know all the details about your trading system. So make sure that you are not risking too much of your account capital in live trading the market.

The fundamentals

Fundamentals of candlesticks are very easy to understand but day traders fail to notice the variations of representation in each interval. We can divide the patterns of candlestick into two such as doji and bullish engulfing. So these two patterns are different from each other. Doji symbolizes that pattern has drained and also it cannot be continued further. But instead of it, we can use bullish engulfing as it is the new trend in the Forex market and also has the possibility to reach to the next level in the market. This is an important concept as we are able to use the tools to assess the available tendencies. However, in Forex trading nothing becomes easier unless you try to make it easy. Also when proceeding with the technical analysis we should be very clear on supply and demand because they play a major role in these situations. When the demand increases at the current level the price tends to decrease. So, as naïve traders, you should be very attentive regarding the technical analysis.

Characteristics of trend

When we study about trading we should make sure to know that trends have a uniqueness that is it trend has its own trends. We can observe many similar features in market trends. At last, this will end to the drained point. But we can find a solution for this problem by using the candlestick which will give us the information about the trending moves we take. The traders who have a greater capability of finding these aspects in trading they will have a good point in their mind as to buy things for a low cost and to sell for a higher price. The traders who know these points will experience the quick change in the supply and demand more than the other traders. In this instance, traders can bear the risks and problems in the Forex market.

One of the uses

Also, candlesticks can be used to confirm the situations where the assist is changed to the opposite of it. But it is also common that there are instances where we can experience ups and downs in trading, but the most important note we must know is how to tolerate those ups and down, especially in trading. These types of events can cost us a lot, but candlesticks can become a friend us as it helps us to understand the market.

Turn Your 2018 Money Resolutions Into Reality

It all starts with a dash of imagination…

Vividly envisioning where you are headed improves the likelihood of meeting your financial resolutions. Allocate at least a few minutes of your day to contemplate on your past experiences as well as your current standing. Afterwards, visualize the financial situation that you desire to experience in the future. Some people may find satisfaction in their year-round travels. While, you may find serenity through altruism. The mere act of visualization will motivate you to reach the goals that you set.

Plan to start small…

Like anything in life, you must have strategic plans. Money resolutions such as paying off debt or building retirement savings are not always easy! This is why you must commit to small things first. Commit yourself to a “small” task that you will accomplish for the rest of the year. Consider writing down every dollar that you spend. For the adjustment period, you can write down each transaction in a notebook or in a journal. Awareness is increased through the mentally exhausting act of writing. It is exhausting in a sense that it activates different parts of the brain. The enhanced brain activity improves your attention and memory.

As the act becomes second nature, you can turn to electronic devices for help. Find an efficient budgeting app or a software to track your transactions. Keep a record. This will help you spot the weaknesses and strengths of your budget. Please adjust accordingly.

Image Credits: pixabay.com

Divide and conquer…

Absorbing the essence of all your financial resolutions is overwhelming! Try dividing a single goal into bite-sized pieces instead. Focus your efforts on a goal before moving on to the next. Observe your progress by ticking off the “resolutions” that you have accomplished.

Remember to be as concrete as possible when identifying your financial resolutions. You may state something along the lines of avoiding credit cards for a month. Or, you may pay an additional of S$50 to your credit card debts. Aim to minimize your debt in a shorter span of time.

Parting thoughts…

Use affirmations to remind yourself that being responsible for your finances will impact your personal life and that of your family’s. Valuing your hard work starts with making few financial alternations.

Sources: 1 &2

Money-Saving Tips For Uni Students In Singapore

Many people believe that the “student life” is golden. I firmly agree! The holistic experiences and social exposures you receive during the course of your tertiary education are heavily treasured. You cannot get these things anywhere else!

Ease your financial load by following these tips:

JUST KEEP PEDALING

Automobile companies lure us with their promise of privacy and convenience during our daily commute. Owning a car may add a level of prestige, but it comes with a hefty price! You must cover several expenses such as gas, parking, and maintenance. Just thinking about my car’s maintenance gives me a headache!

As a thriving student, it is a good idea to steer away from this financial burden. Consider the alternative types of commute such as public transportation, cycling, and walking. You are eligible to apply for an Undergraduate Concession Card as a full-time undergraduate from a government or government-aided tertiary institution (T&Cs apply). This card allows you to save a decent amount of cash for your entire matriculation.

Image Credits: pixabay.com

Secondly, cycling to school is beneficial for the environment and for your health. The same benefits apply to walking. When I was a university student, I spared 40 minutes of my day for travelling. I walked to school every morning with music in my ears. I can either feel the breeze or focus on my thoughts. Do the same thing if you are going to travel short distances.

As a friendly reminder, stay safe by having someone accompany you while walking to isolated areas. Let a family member or a friend know about your whereabouts at all times.

SELL YOUR BOOKS

It goes without saying that the product of one’s intellect comes with a price. Reference books or textbooks suited for tertiary students costs as low as S$50 each. It is a significant price to pay for a book that you will use for barely 3-4 months. Thus, students must employ different strategies to save money on their books.

Firstly, you can rent a book for free at the National Library. Secondly, you can purchase second-hand books online. Lastly, you may sell your old books to afford another one. Aim to sell your books to the next batch of students.

I am well aware that some people refuse to discard their belongings, including the ones that are seemingly useless (e.g., old newspapers). Hoarding can harm your chances of getting the best deals as the books’ resale value lessens in time.

EARN ON THE SIDE

In general, tertiary students are divided into two financial groups. The first group of people can survive solely with their allowance. While, the second group survives by earning money on the side. It is easy to immerse yourself with your academic responsibilities without having to worry about your finances. However, you may want to invest on your financial freedom. Extra money entails that you can build a travel or an emergency fund.

Image Credits: pixabay.com

I belonged to the first group. During the first year of my tertiary education, I underestimated the weight of earning my own money. I handpicked the friendly gatherings that I will attend to maximize my allowance. My perception all changed when my friend pointed out that I must choose the restaurant to eat at. I was given the tasked as she perceived me to be the “poorest”. I decided to boost my financial capacity by working as a secretary at my mother’s workplace. This experience has exposed me to the diverse work culture in the country. Not to mention, it benefited my career profile.

Make money on the side by working part-time at a restaurant, by distributing flowers, or by opening a blog shop. Find part-time jobs at freelancezone.com.sg.

6 Financial Pledges For The New Year 2018

What are your financial resolutions for the next year? Here are some ideas to get you started.

#1: BE DEBT-FREE

When it comes to minimizing your debts, it pays to be strategic! You can either conquer a volume of smaller debts or a decent amount of high-interest debts. The important thing is to restructure your debts in order for payments to go towards your principal rather than the interest.

#2: CANCEL UNNECESSARY ACCOUNTS

Look into your current financial situation. Keep an eye on the redundant and unnecessary elements. Do you really need to pay for everything with your several accounts (i.e., both credit and savings accounts)? In most cases, the answer is “NO”! Financial institutions charges fees for the simplest of things. Consider closing down or canceling your unnecessary accounts.

#3: IMPROVE YOUR DEFENSE

No one knows when the next financial crisis will hit! To help ease the burden of unexpected costs, your first line of defense is the emergency fund. Modify your budget in such a way that you would have an excess amount of cash for emergencies.

#4: BOOST YOUR GOLDEN NEST

Now is the perfect time to invest for your needs beyond retirement. As a Singaporean Citizen or a Permanent Resident, you are privileged to have a straightforward retirement plan. Just ensure that your company’s terms are in lined with the CPF’s. Grow your “golden nest” to its full potential by maximizing your personal contributions.

#5: GIVE MONEY AWAY

Fulfilling someone’s monetary plea is one of the most positive ways to start the year 2018! If you are capable of shelling out a portion of your savings without hurting your budget then, you may donate to a good cause. You will realize the true value of your money as you see it transform someone else’s life.

#6: BE A BOOKWORM

Knowledge is definitely powerful! Particularly, printed media allows you to directly interact with some of the century’s brilliant minds. You may want to explore the different non-fiction topics including the wonders of Investments as a renewed bookworm. Look into the interesting titles such as “The Intelligent Investor” or “Common Stocks and Uncommon Profits”.

Image Credits: pixabay.com

These books and similar ones will allow you to learn the basics directly from the people who were most successful in the field.

Sources: 1 &2

Why Investment-Linked Policies Still Have Its Merits

As consumers get savvier about insurance, the Do-It-Yourself (‘DIY’) approach of “Buy Term and Invest the Difference” is gradually gaining in popularity. Briefly, it is the combination of buying a term life insurance and investing the “savings” from the lower premiums being paid. This contrasts with Investment-Linked Policy (‘ILP’) which has both life insurance and investment components. An example would be the AIA Pro Achiever which has been designed to include both insurance and investment elements in the most optimal manner. In general, ILP is preferred by consumers who want more exposure to investments than what other life insurance products may be able to provide. Therefore, it will be too foolhardy to dismiss ILP altogether. It definitely still has its merits and exists to benefit certain groups of consumers and situations.

ILP invests in a methodological and structured manner

One of the biggest merits of purchasing an ILP is to have investment professionals take over the actual investing. An example would be Mercer’s partnership with AIA to manage the investments under the AIA Pro Achiever policy. As a leading global investment consultant, Mercer possess the requisite expertise and rigor to manage and grow the investments in a methodological and structured manner.

Furthermore, the premiums collected under the AIA Pro Achiever policy will be fully earmarked for investment right from the start. Expenses for this ILP are also low since no sales charge will be levied. Bid-offer spread is also not applicable. What these imply are that every dollar contributed will have the potential to experience investment growth. Therefore, policyholders can afford more time with their loved ones with the knowledge that their investment portfolios are under the experienced hands of Mercer.

On the other hand, the DIY approach is prone to possible lapses. That is because it is not uncommon for one to juggle multiple roles (eg: the hardworking worker, the responsible parent) simultaneously today. During stressful periods, emotions could go on overdrive while investment may take a backseat instead. As a result, a case of “overwhelming emotions” or “absent-mindedness” could potentially ruin any well-planned investment strategy. However, by buying an ILP, such incidents can be avoided since the investment component has been outsourced to professionals. Regular-premium ILPs also employ a dollar-cost average approach that helps to even out market volatility. Over the long term, it allows the policyholder to fully reap the benefits of staying invested in the market.

ILP is a flexible finance instrument

ILP is a flexible finance instrument that can be catered to investors according to their risk-appetite profiles. For instance, the AIA Pro Achiever policy offers 3 types of portfolios; Adventurous, Balanced or Cautious. This provides a choice for policyholder to select a portfolio that best matches his or her expected returns/risk profile. The flexibility extends further as policyholders are able to switch or rebalance their funds from time to time at no additional fee. This is critical as risk appetites would naturally evolve when certain life milestones are reached.

In addition, AIA provides leeway for policyholders to adjust monthly premiums especially since one’s cashflow could fluctuate from time to time. For instance, during an unexpected windfall or upon receipt of annual bonuses, policyholders have the option of topping up their premiums. Likewise, when liquidity gets tight, policyholders are at liberty to take a premium holiday. Finally, there is always the option of making withdrawals when a critical need or emergency arises.

ILP also serves as a life insurance

Let’s not forget that ILP also doubles up as a life insurance which means that there is a death benefit attached to it. On this, investment-linked policyholders are typically covered up to the policy value or to the amount that they have invested. This offers an extra peace of mind as immediate family members would be able to receive the sum assured in the event of an untimely passing. A noteworthy feature of the AIA Pro Achiever is the additional death benefit payout of 100% total regular premium paid in the event of accidental death during the first 2 policy years.

AIA also recognises that with increased life expectancies, policyholders may prefer to stay invested longer. Therefore, AIA Pro Achiever allows policyholders to stay invested till age 100 (also the policy maturity)! Furthermore, AIA Pro Achiever actively rewards policyholder that stays invested for the long term. Firstly, charges for premium holidays, partial withdrawals etc are waived after the 13^th year of paying premiums. Upon reaching this milestone, policyholders are also awarded an extra 5% allocation on their premiums annually. Such loyalty features suggest that the AIA Pro Achiever provides even more value for money for policyholders that stay invested longer.

Get in touch with an AIA appointed representative to find out more about the AIA Pro Achiever today!

Nothing in this article should be construed as constitute or form a recommendation, financial advice, or an offer, invitation or solicitation from Money Digest to buy or subscribe for any securities and/or investment products. Any past performance, projection, forecast or simulation of results is not necessarily indicative of the future or likely performance of any company or investment. The content and materials made available are for informational purposes only and should not be relied on without obtaining the necessary independent financial or other advice in connection therewith before making an investment or other decision as may be appropriate.

The fundamentals

Characteristics of trend

One of the uses

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