How to Have an Impressive Forex Portfolio

One of the most frequent advice that is given out to novice forex traders is the advice to begin small in their trading activities. By doing so, you as a new forex trader will not suffer adversely if you make some mistakes along the way. This is because you are also recommended just to trade based on 2 % of your investment capital. The rationale is as you gain more experiences, your confidence level will be boosted.

This is an excellent advice for the novice Forex trader as they limit the exposure to risk. However the very same advice will also limit a novice forex trader to expand their horizon. The word "small" is equated to "safe" and this will stop you actually from building up your confidence level. To be confident you will need something to show for it and it is extremely difficult to built up an impressive portfolio if you trading account has only $500 to show for it.

Trying to achieve higher confidence level just with theoretical studies of investment techniques is nearly impossible. You must actually be practically involved in the building of your own success level in your trading. And as the level of success increased, you will also increase your confidence level.

By limiting your trading activities, you are actually limiting your potential to earn more and higher profits. So to overcome that, you need to trade more with a higher exposure level. And to do that will require more than a $500 trading account. Most forex trading advisers recommended that to be professional traders, you need at least $100,000. So how would you go about that to reach that target?

Persistence small profitable trading

As you'd expect, there's really no quick, guaranteed way to do this. They best ways is to start with small trades and keep working your way up slowly but surely. Keep in mind that doesn't mean you need to spend all day making lots of trades. Your goal here is accuracy, not quantity.

Venture into trading on other currency pairs

The advice for you to specialize in just one currency pairs is good advice so that you can focus. However, the advice will only hold turn for so long in your trading career. You cannot hope to build up an impressive portfolio by just sticking with only one pair of currency to trade. Therefore in order to grow the portfolio you will need to venture with another pair of currency in order to maximize your investment opportunity.

Trading with your own money

Sometimes because we wish to have additional capital to trade with, we try to borrow from friends or family members. This is a very unwise move as you might end up losing all the money that you borrowed. The reason is that borrowed money will cause you additional mental stress because of the fear of losing it. This will result in you curtailing your trading abilities which will ultimately result in losses. Therefore you are highly recommended to abstain from trading in borrowed money.

In summary, to build up your investment portfolio to an impressive level, you need to trade regularly, take more calculated risks diversify your currencies portfolio when possible. By abiding to these steps, you will slowly reach the level that you can be proud off.

Money Making Tips - Something to Think About

I have been hearing a lot lately about how easy it is to make money online. The Money Making Tips promises that come into my mailbox on an almost daily basis have me wondering by now why everyone involved in it isn't a millionaire yet. They obviously can't be because surely there is only so much money to go around and the majority of people are still working at a job. Big promises with little follow up seems to be a regular story. Still, there are, I believe, quite a few people who do actually make anywhere from a very good to an exceptional income from online trading and networking. So having pondered for a while what is and isn't true I decided to do some research and check it out for myself.

The first thing that I looked at was all the Money Making Tips that are thrown around the internet. A lot of newbies and even quite experienced online marketers spend enormous amounts of time and more worrisome still, lots of money trying to find that pot of gold at the end of the rainbow that will bring them that promised return on their investments. At the other end of the scale is a very large number of investors who have been led to believe that they do not need to spend any time at all working on making their investments grow. They may individually not spend any time nor any great amount of money on any particular affiliate program or other type of online investment that they have been talked into. This group of online investors will not stay with any investment for very long but keep moving from one to the other to hopefully find that pot of gold somewhere. After a year or so, this group will also have spent a very considerable amount of money without having achieved even the most minimal of their initial goals.

So, why is this happening and what is the underlying cause of the problem?

The main problem that seems to be an ongoing issue is the lack of support for new entrants into the market and ongoing training for the more experienced marketers. Networking has long been accepted as an essential part of traditional business activities. Starting a new traditional business is hard work and without some form of network support, most new traditional businesses are known to fail within the first year with as much as 85% not making it through to the 5th year. So why would anyone starting an online investment business be expect to fare much better than a traditional business starter? Most likely because the lure of the latest "Money making Tips" or the greatest "Money Making Secrets" has been put in such a way that it has been too hard to refuse. Of course we all know that "If it sounds too good to be true, it usually is" but that is not much help.

So what is the solution?

SOCIAL NETWORKING AND ONGOING TRAINING!!

My research to date seems to clearly indicate that the people who are the most successful in the online marketing field are the ones who are best at social networking and are excellent team workers. The one thing that they all appear to have in common is their heavy involvement in internet business training programs. As part of my research I have found some excellent venues that range from free to rather expensive but fortunately, some of the best that I have found are either free dedicated training programs or are membership only vehicles that combine training and investment strategies. One very good example of each of these scenarios that I have come across during my research are Ed Dale's "30 Day Challenge" and "3 Crowns Venture Partners". Check either of them out and judge for yourself.

CONCLUSION:

Yes it is possible that, with the right Money Making Tips combined with reason applied to expectations, excellent income streams can be expected from online investments. Without personal effort, but the right choice of vehicles, income will grow over time. Any expectation of rapid income growth however can not be realised without personal dedication, ongoing training, social networking and team work.