WHERE DO YOU START FROM

There are many ways one can employ to achieving one's goal. You have to be honest, upright and righteous and the most important of it all is having strong faith in one's capabilities. It is the hope of every man to achieve greatness, hence we are motivated by two inevitable impulses of repulsion from sorrow, therefore we crave to seek joy and absolute fulfilment. In the quest to embrace all happiness, man is compelled to run after the enjoyable and agreeable. But one important fact here is that the acquisition and possession of wealth is NOT the thermometre to measuring one's happiness.
THE PRINCIPLES OF WEALTH ACCUMULATION
The fact remains, that all achievers whether consciously or sub-consciously have succeeded by using what some call the code of conduct of Wealth Building, which I have listed below:
Truth
Righteousness
Peace
Love
The practice of these code of conduct will make any man achieve his desired goals in life. We must bear in mind that the methods employed by different individuals in their accumulation of wealth may be distinct, but the goal is just one to all and steps spoken earlier on and the ones still to be said are in effect your tools to your success and wealth accumulation.
Now, one of the most important thing is identifying the talents, attribute and capabilities in us and how to develop, exploit and explore them, the modus-operandi on implementing them in ourselves. you must try as much as possible to utilize at least one of the talents God has given to you, also you should know that the most supreme fundamental principle is to understand that our success depends solely on us. thus poverty and prosperity depends on these Cs - Character, Creativity, Capabilities, Courage and Confidence.
You need very strong will power to develop your God given talents including the five Cs. With courage and confidence alone complete transformation can take place which will lead you to success, while the opposite will bring sorrow and despair. Without courage and confidence you cannot go far.
When you have a powerful idea, with the five Cs you will succeed, Character is your person, Creativity is developing your talent/s, Capability is your ability to develop your God given talent/s, then with Courage and Confidence the sky is your limit. But when you have negative attitudes, everything stops in the tracks and the idea that looks wonderful becomes a complete failure and crumbles.
Before you set out for your wealth accumulation drive, you need to have courage and confidence and there should never be a conflict within you whether what you are about to set out for will be a worthwhile concepts or not, when your mind says one thing and your intellect and intuition says another. Your mind, intellect and intuition should always follow the same path to success. if you are undecided before setting on your journey, invariably the end is an imminent disaster because of your indecision. Success they say lies in what we make of it and not what we think it should be.

WEALTH ACCCUMULATION DRIVE

For any man to succeed, he needs to involve his spouse in his wealth accumulation drive. See every hour as a messenger willing to deliver whatever good message you post on it. I know you will want your hours to be miracle working hours, making money for you. Therefore take an inventory of every hour of the day. Examine the messages you have posted on each.
There is this anonymous saying that: "A typical marriage is where the husband keeps his mouth shut and his cheque open. While a model marriage is one in which the wife is the treasurer and the husband the treasury."
Your wife may be your savior in financial matters. You should know that GOD did not give you a partner to become a liability to you. Rather your spouse should be an asset to you, to compliment your efforts to achieve your desired success. Many men keeps their wives completely out of their financial affairs, which is rather unfortunate.
If the woman in your life is your GOD ordained wife, she would surely want you to succeed and that is guaranteed. Your woman would always prevent you from committing costly financial mistakes. GOD has Blessed women with very sensitive antennae, hence they can sense danger from quiet a distance. But in most times they find it difficult to explain, but they know when danger lurks in the corner. Therefore it is in the best interest of any man who wants to succeed,to listen to his wife when she makes suggestions. She may be your saving grace, that would save you from unnecessary heartache and from committing avoidable financial suicide.
That is why most informed millionaires don't leave their spouses out of their financial decisions, they always carry them along when making major financial decisions. Nevertheless if you think that your wife is not up to the standard you want of her, it is your sole responsibility to brush her up to the level where you think she can match you in terms of mental development. You should make sure that your spouse always play an active part in your financial matters. Sit your wife down regularly and discuss matters with her, sell your vision to her. Get to know hers as well and assist her to achieve her dreams to the best of your ability.
Let me rap it up with this strong one from RICK WARREN: Nothing matters more than knowing God's purpose for your life, and nothing compensates for not knowing them- not success, wealth fame or pleasure.Without a purpose, life is motion without meaning, activity without direction and events without reason. Without a purpose, life is trivial, petty and pointless.

BECOMING WEALTHY IS YOUR PERSONAL RESPONSIBILITY

Quite a number of people think that to be wealthy is the responsibility of their employers; NO, that is an illusion, it is your sole and personal responsibility to achieve financial freedom and become wealthy.With your employer you are just on contract to do your job while he pays you whatever he deems fit as your deserving wage in return, so what you do with your financial future is your absolute responsibility.

INVEST FOR THE RAINY DAY: The first indication of financial crisis is when you spend all your earnings.This is one habit anybody who desires financial freedom must shun. No matter how small you earn for a living, don’t make a habit of spending everything. You should leave something for the rainy days. You can even see the ants labor through the day during the summer and during the rainy season, they have enough to fall back to.

DON'T EVER RELY ON A SOURCE OF INCOME; THREE MORE WILL DO. Most people make the mistake of depending solely on their monthly salary without making attempts in building alternative sources of income. They get relaxed due to their fat pay cheques and other benefits, not minding that the party could end one day.

When such people are suppose to be enjoying their retirement in wealth, suddenly realizes that they have not built enough cushion to take care of them in retirement. This pushes such individuals to look for paid employments or even lobby their former employers for assistance after retiring. It is rather important to start building other source of income to complement the existing one early.

Use your spare hours profitably. Use your weekends, instead of partying or visiting friends, most of the worlds wealthy people built there wealth during their spare times. I am not saying that you should cheat your employers by using your official hours to conduct your personal business. All I am saying is rather than go partying after office hours and the weekends, find something profitable to do. Yes most wealthy people have used their spare times to build business empires for themselves. The problem is that most people can not endure temporary inconveniences; they are not willing to pay the necessary price to achieve financial freedom.

All good things have a price. Are you ready to pay the price to achieve financial freedom? Are you ready to stop impressing your friends and start sorting your financial future? Always ask yourself that, if you quit your present job, would you be able to maintain your current standard of living? Those who fail to ask themselves this question frequently are the ones after quitting their present job comes back begging to be reabsorbed. If you must work, then the very day you collect your first salary is the day you should plan to live without the salary.

You should work towards what people call passive income. With that you most have built enough wealth that will keep on generating more money whether you are sleeping or awake. And this is how to work out your financial freedom.

Building Real Wealth Part 6

TREAT A CENT AS YOU WOULD TREAT ONE MILLION DOLLAR

Track and control your expenses first as stated in the earlier parts, people who cannot track and control their expenses cannot build Real and Lasting Wealth. Now if you really desire to build Real and Lasting wealth you must as a matter of fact treat a cent with the same degree of respect you would treat a million dollar. Because God does not tolerate waste in any form He will hold you accountable for every cent that He permitted to pass through your hands, I tell you wealthy people treat a cent with the same degree of respect they would treat a million dollar.

There is a wise saying that says: "There are many nerves in the human body, but the most sensitive is the one that leads from the brain to the pocket book". That is the more reason why you should keep records of your financial expenditure properly. Do not put these records in your memory as your memory is meant for imaginations and not for keeping financial records. If you read the book of Habakkuk in the Holy Bible, we were asked to write down our vision and make it plain to people.

You cannot acquire Real and Lasting Wealth until you learn to document every cent you spend and track the trend of your expenses.

The same thing applies to every income that comes your way, you must document the source and dates. It's only by writing your expenses down and analysing them that you can know whether you are spending your money on the right items or not. By writing your income and expenses, you can prepare a personal financial balance sheet which will be a snapshot of your financial status at any given point in time. By writing down your transactions, you can prepare an income statement which will enable you match your expenditure with your income, with this you can easily determine if you are approaching the red signals.

God wants us to have complete control over the money He had given us , hence if you loss control over money, you have lost control over this vital item which God had given to you. It is an offence to God for you to allow any money He had allowed to pass through your hands to waste . The point is this , if you are not faithful or thrifty with a cent , you cannot be faithful or thrifty with one million dollars. There is not an informed Millionaire that does not respect the smallest denomination of his/her currency the way he/she would respect the highesdenomination. Money as I said is a spirit and it flows in the direction of those that knows how to treat it. When misused or abused will fly away. Again working with a financial record keeping mentality is the greatest antidote to impulsive spending. Always create a list of your shopping with a budget before you go to buy and try as much as possible to stick to your list.

TIME THE UNIVERSAL CURRENCY

Greatness they say begins with just only one step while TIME is the greatest currency on earth that you need to spend judiciously to attain greatness and acquire Real and Lasting Wealth. You don't need to be from a wealthy background or to be born with a golden spoon in your mouth, before you become a very wealthy millionaire. No special advantage is needed.

TIME is all that is needed to become whatever you desire in life in becoming. Now as mentioned before open what I call FREEDOM ACCOUNT and start saving one tenth of your income no matter how small and whatever extra income or increase that comes your way aside your tithe. Save every other unexpected income that finds it's way into your palm, DON'T spend it and after some months buy shares and start to save all over again; don't procrastinate, start with whatever you have now.

In your match to Financial Freedom, you will come across trying circumstances. You surely will loss money. Friends will betray and scam you. Advisers will confuse you atimes. Each time you fall into these difficulties; don't be discouraged, talk to God in silence and ask God to show you the hidden road to success. You see the wisdom is not in falling at all; it is in standing and coming up stronger again each time you fall. That is why I said that what we call mistakes or failures are not failures, but points and platforms for us to make amends or for God to bring out a particular strength in us or to take us to the direction He wants us to follow in life.

When you read the Holy Bible and see the travails of Joseph in the hands of his elder brothers and see how Joseph was sold into slavery to some rich merchants from afar, but God just wanted to bring out the talent in Joseph and to place Joseph on the path HE had wanted him to follow to attain what He wanted Joseph to attain in life. There are several aspect like this in the Holy Bible that one can make references.

Don't invest in things that are in the real sense of it serious liabilities, which we believed are assets, like unnecessary purchase of two to three cars, expensive Home Theater etc. All of these are mere liabilities and not assets. You must learn to shun impulsive spending, when you buy on impulse, the tendency is that you spend far more than your budget. This is not good enough, if you are actually serious at building Real and Lasting Wealth.

If you really want to be wealthy, all you need do logically is to study the habits of wealthy people and practice them religiously, with TIME you will certainly succeed. But if you violate the principle of wealth accumulation like spending more than you earn, refusing to save consistently and accumulating liabilities rather than assets, you should not expect to be wealthy, rather you are setting yourself on what I call Financial Crisis.

Even God built this world on principles, nobody directs the sun to rise and set, nobody also detects it to rain and stop, etc. If you toe the laid down principles in any area of your life you surely will get your desired results.

LEARN TO SAVE AND LET YOUR SAVINGS WORK FOR YOU

Start NOW by saving one tenth of your income, aside your tithe and after some few months invest your savings into the area you are most familiar with. Don't try it in a business you know little or nothing about. You can find somebody who has made a success in your area of interest and let him/her coach you to success too because a business coach will always prevent you from making severe mistakes, he/she will provide the necessary work map and compass for easy navigation and this will enable you achieve your target faster by cutting curves.

If you actually desire to become a wealthy millionaire, you must set a specific target as mentioned in part 3, on the level of wealth you intend to accumulate. You should know what it will boil down to when broken down to a day, a week, a month and in a year and you know how many years it will take you to get to your target, might be say ten or fifteen years. When you desire plenty of wealth with all your heart a Higher Power will gladly throw all that you need to succeed on your path.

Mind you most people think that their wealth is measured by the amount of money they have in their vault or bank account, NO. To measure Real and Lasting Wealth, it is the number of times your passive income can comfortably take care of all your expenses, especially after you stopped working and the number of people that can trace their development and success to you be you a Christian or Muslim because WEALTH SHARED INCREASE RAPIDLY.

Hence as you set on your journey towards acquiring Real and Lasting Wealth, put all your trust and finances in God, for He will never let you make foolish mistakes. With all your professional know how and your intellect you can still fail but with God guiding you , you can never fail.

The purpose of acquiring wealth is much more than the wealth itself. Why do God wants to bless us? He blesses us so that we can be a source of blessing to others. When you finally make it, each morning always ask yourself how you can glorify God with what he has given you, by blessing somebody with your money. You know why, it's because God is the only source of Real and Lasting Wealth hence I am telling you that we are all mere stewards of God's money. We all came into this world with nothing and no matter how wealthy we might be we shall all leave with nothing.

If you fail to utilize whatever wealth God entrusted to you properly, be it trillions, all will vanish, it cost God nothing to take all the wealth away from you within a very short period, just with one little calamity, before you know it all is gone. But when you glorify God with your wealth, by blessing people, He will give you divine ideas. And just one divine idea if handled and executed religiously, can give you an everlasting stream of income.

CHANGING YOUR PRESENT CIRCUMSTANCES

If you really desire to have real and lasting wealth, then you must change your present circumstances, you will have to work on your inside. To do that, you must first change the dominant picture in your mind because what you picture vividly in your mind will always come to be. As mentioned earlier on, when you seriously desire a thing, Higher Power Steps in to make it a reality. Because the Holy Bible says that GOD will grant the desires of our heart, so when thinking or dreaming let these thoughts or dreams be Big and Positive always. Don't think that it's impossible to think and dream big for it to be real. I will tell you there are no impossible GOALS but only unrealistic deadlines.

When you are in the process of Building Honest and Lasting Wealth, you encounter different types of situations and there are some you think are mistakes. These perceived mistakes always contain one or more seeds of Fortune if viewed closely. That is why I honestly believed that those things we call failures, are not failures at all, rather they are points and platforms either for us to make amends which will bring out the talents in us or for GOD to bring out a particular Strength in us that will take us to the direction He wants us to follow in life.

POWER OF IMAGINATION

Visualizing your future the way you want it, will make that future a reality. Thoughts are things, there is a sort of stream of consciousness up there that is always helping you by directing your thoughts, when you harness this consciousness in a way, and you get what you want (provided they are positive things). You can always affect the future from the present through this universal consciousness. By setting your brain into an alpha brain wave state, you can picture what you want there, like a wealthy person........ You will head towards the direction of that picture you created in your head.

There are several ways to visualize. You can visualize in solitude; while relaxing etc. Visualize yourself living the most pleasant life and having your loved ones mailing around you, you will move up the ladder bit by bit. You must get used to the idea of visualization and get more affective with your thinking and the major thing is to get started.

Start creating specific pictures of Money-Bulging-Pocket, Successful and a Wealthy Person. If you can keep up with your visualizations, you ultimately become that picture, which you have visualized vividly in your mind. You just have to start by taking the right and specific action. Set a specific target for your money because it is by setting the right and specific targets and actions can you realize real and lasting wealth. If you fail to set specific targets, you might not realize it when the opportunity comes.

As mentioned earlier on in part 2, you have to learn to control your expenses before you go in search of more money. Those things we all call "Necessary Expenses" will always grow to equal or surpass our income, except one puts a stop to them, that is by keeping accurate records, listing your expenses in order of priorities and see to it that those things that are actually not necessary are done away with. At this point we can now start talking of how to make more money and build steady and lasting wealth.

Building Real Wealth Part 2

At this juncture I will refer you to 'Ayo Arowolo's book' (The Millionaires Capsules) when he wrote that "God Wants Us To Be Rich, But He Cannot Bless Us Beyond Our Financial Intelligence" writing further , 'Ayo Arowolo' said that "Success Is Predictable So Also Is Failure. If You Believed You Will Succeed You Will And If You Believed You Will Fail You Will. If You Believed You Will Be Wealthy You Will Be Wealthy And Nobody Can Stop You..........".

To Cap It All 'Stephen Pierce' in his sixty minutes speech said "You Cannot Make Money And Excuses At The Same Time". He went further to say that "Money Never Sleeps" I believed he was right.

I promise you that your life will NOT be the same again after listening to this speech again and again.

You will find out how easy it is to make honest money. I mean you will find out how easy it is to build honest and lasting wealth.

You must learn how to control your expenses first, before going in search of more money. when you cannot track your expenses, then that means you are completely OUT flat in the money game.

But I have to warn you, that Ambiguity they say is the greatest handicap on the road to Financial Freedom, hence you must know what you want and how to go about it. Though, there is nowhere that you are headed that someone has not been, hence you need a mentor in your life, that is the more reason why I will always recommend the CEO of Alpha talk back, Mr. Stephen Pierce.

HONEST AND LASTING WEALTH BUILDING

Wealth they say starts from the mind. "Intention coupled with Vision and Growth is the key to Expansion" 'Sharon Maxwell Magnus'. You are what you think you are. As 'The Buddha' put it..... All That We Are Arise from Our Thoughts. With Our Thoughts We Make Our world.

Money is a spirit and it walks in the direction of those who have a strong desire for it and not those who need it. But when abused it can also fly away because it has wings.

Be informed that you cannot be wealthier beyond the level of your inner Strength. Hence for you to be wealthy you have to think big and positively too, because what you picture vividly in your mind is what you ultimately get in real life. There is nothing that happens to you now , that you had not imagined. Always dream big, for big dreams attracts big provisions, while small dreams attracts small provisions. in that wise, you have to turn your dreams into a consuming passion for it to become real. That means turning it to a dominant passion. Because when you seriously desire a thing, a Higher Power Steps In to make it happen.

Building Real Wealth

Wealthbuilding4life is working round the clock to see that most of our readers understands, the HOW to build and maintain REAL WEALTH.

PREPARING OUR MINDS

MIND OF A SUCCESSFUL PERSON

VISION

We believe that: A CLEAR MENTAL PICTURE OF A BETTER TOMORROW, GIVEN BY GOD, MOVES A PERSON TO BELIEVE THAT IT NOT ONLY COULD BE DONE, BUT IT SHOULD BE DONE.

Once you have captured this vision , you must find ways to communicate it to your people, in order for it to work. Winston Churchill they say is a master at communicating vision to his people and the tools he uses then were: "Strong Beginning; One Theme; Simple Language; Pictures and Emotional Ending".

BIRTH OF A VISION

For many people , their vision begins just like an idea, without much details or clarity. With time the idea turns into a major area of interest, and later than sooner becomes a passion. It then takes shape right inside their mind. Hence in many ways , the birth of a VISION is much like the birth of a CHILD. It goes through various stages before it matures.

1. Before you can have a clear cut vision you need to have intimacy with GOD, in order to conceive a vision. People who gets vision from GOD have spent time with Him in worship, quietness, solitude and reflection. This type of union enables GOD to speak and reveal what He wants that person to do. That is when GOD plants the vision- seed inside him/her.

When GOD does reveal a vision to you, it comes like a seed as mentioned earlier on, and must grow inside you. Though when planted it might initially seem unclear, or not fully formed.

The vision might take long to form and take shape, but it does and when it finally forms, that person becomes a different being entirely and he/she will not be satisfied in maintaining the status quo.

At this point there is always the temptation to back out or backslide. The devil tries to convince him/her to abandon the vision, but if he/she does not give up he/she will eventually grow and stand on his/her own.

WHAT VOICE INSPIRED YOUR VISION?

As you consider the vision you might likely pursue, bear in mind that God communicates with us with different "voices". We must remember how He has motivated us in the past before. The methods He has used.

1. THE INNER VOICE: Does your vision come from the urge for worldly things, or personal desires? Because you would not accomplish what you don't believe in.

2. THE ANGRY VOICE: Does your vision come from your dislike of one or more perceived injustice or problem? Do you see some inexcusable circumstances arising?

3. THE SUCCESSFUL VOICE: Does your vision arise from the inspiration you get from people who have already gone through the same situation?

Or you found a person you can look unto as a mentor in your life? Who will be responsible for the re-shaping of your life.

4. THE HIGHER VOICE: A truely valuable vision given by GOD. This vision helps you to take a
look from the past to guide your present through the future.

UNDERSTANDING YOUR TECHNICAL INDICATORS PART 2

PARABOLIC SAR: Commonly referred to as Stop And Reverse indicates the buy and sell signals. When the Parabolic Sar lies above the Trend and Candlestick, this is a clear sell signal, but where it is below then that is a clear buy signal.

STOCHASTIC OSCILLATOR: The common use of this indicator is to indicate when the Market is either overbought or oversold. In most cases the 80 and above area is considered as the overbought zone, while the area around or below the 20 zone is generally considered as the oversold zone.

RELATIVE STRENGTH INDEX 'RSI': Is a great indicator, that measures the market activities just like the Stochastic. It also indicates whether a market is overbought or oversold. It gives an indication to the direction of the market. The higher the number, the more overbought the market is and the lower the number the more oversold the market is.

BOLLINGER BANDS: The common use of Bollinger Bands is to identify an overbought or oversold market. A price at or close to the upper band signals an overbought market, while a market price at or close to the lower band, signals an oversold market. Either way they are both signals that you should exit your current position

UNDERSTANDING YOUR TECHNICAL INDICATORS

Before proceeding, let me touch on the Japanese Candlestick.
CANDLESTICK TECHNICAL ANALYSIS CHART: Japanese Candlestick is a short term timing technique that generates signals based on the relationship between open; high; low and close prices. it is known to generate more trading opportunities than any known trading plan.
There are several indicators for trading the forex market, with over 800 expert advisor indicators, but using too many or wrong indicators is counterproductive, as the information that those indicators provide are quite misleading, hence I will limit you to learn Forex Trading with the best strategies and systems in the forex market. Therefore I will concern us with very few indicators. In the course of my series of post, I will touch some other good expert advisor indicators with signals and buyable indicators to improve your trading.
MOVING AVERAGES: Moving Averages are the most popular and easy to use technical indicators. They make it easier to spot the trend, which is very helpful in volatile markets. They are like foundation blocks for many other technical indicators.
There are three distinctive Moving Averages, Moving Average Convergence MACD;Simple Moving Average SMA and Exponential Moving Average EMA.
Moving Average Convergence 'MACD' as it's commonly called is an oscillator that is capable of measuring the market momemtum and equally follow the trend. MACD is designed to generate the buy and sell signals. A buy signal occurs when the MACD line crosses from below to above the signal line, while a sell signal occurs when the MACD line crosses from above to below the signal line.
SIMPLE MOVING AVERAGE: This is formed by computing the average price of a market over a period of time, the only problem is that it is lagging, it does not signal a change in trend on time.
EXPONENTIAL MOVING AVERAGE: EMA reduces the lagging in the Simple Moving Average SMA by applying more weight to recent prices. The shorter the EMA's period, the more weight that will be applied to the recent price. The most important thing is to have it in mind that EMA puts more weight on recent prices and this will make it react quicker to price changes on time than the Simple Moving Average

TYPE OF ORDERS

In forex trading market, there are different types Orders, I will only explain the three most important ones now-Market Order; Stop Order and Limit Order.

Market Order: This type of Order is used to either enter or exit the market at the quoted currency price of any given pair instantly.When you place such orders, you are simply saying you will buy or sell that given currency pair, at whatever price it reaches when I would be filled.

Limit Order: This type of Order is used to buy or sell a currency pair at a predetermined price. This Order is simply put in place to redeem your profit at that predetermined price, when you are not there to monitor your trade.

Stop Order: This type of Order is also used to buy or sell a currency pair at a predetermined price and it is the opposite of Limit Order because it is placed to stop your losses at the predetermined price, when you are not there to monitor your trade and cut your losses.

FORCES THAT DETERMINES MARKET MOVEMENT

There are two forces that moves market price. The TECHNICAL AND FUNDAMENTAL ANALYSIS.
With the Technical Analysis a trader studies the past movements to predict the future price of a currency pair. Therefore Technical Analysis reflects the behavior and pulse of the entire marketplace.
While the Fundamental Analysis are those things that make a country tick, the release of economic news like the social and the political happenings in a country. When Fundamental data is made public there are always reactions from investors and speculators because the release of these economic indicators "could" cause a currency to rise in price or "might" cause the currency price to fall. The words 'could' and 'might' indicated the double-entendre or better still the parisology of the Fundamental data.
Hence I will recommend the use of both the technical and fundamental indicators for a better forex trading.

TRADING PERIODS

Forex is a 24hours market and it is operational for five days in a week.
We have the Asian; European; London and New York Sessions.
The Asian Session opens on sunday at 1.00A.M GMT or better still 8.00P.M EST and closes at 8.00A,M GMT or 3.00A.M EST. The European Session opens at 7.00A.M GMT which is 2.00A.M EST and closes at 3.00P.M GMT i.e 10.00A.M EST. the London Session which run almost at the same time with the European Session opens 1hour after the European Session and closes 1hour after the European Session closes.
The New York Session opens at 1.00P.M GMT or 8.00A.M EST, while it closes at 8.00P.M GMT which is 3.00P.M EST.
It is advisable to watch the historical price data on the forex chart to see what time frame that suits you to trade and what time you could be busy doing something else. The idea is to trade when the trading range is worth it, while you stay out of the market when the trend is not favourable.

TERMS AND LANGUAGES OF FOREX

First let us get used to the terms and languages as being used by the pros in forex trading.
You get to hear things like Pairs; Base/counter currency; Bull/Bear;Pips; Margin; Spread; Leverage etc.
Currencies are traded in pairs like USD/JPY which means the US dollar/ the Japanese Yen. The USD being the Base currency here while the Japanese Yen is the counter currency.
When you hear the pros say it's Bull, that means the base currency is strong and at this point a trader buys but when they say it's bear, then that means the counter currency is stronger and this is when a trader sells.
A pip is an acronym for Price Interest Point which is the movement of the price of any pair from a point to another it equally determines the volume of your profit or loss and your mean goal is to gain as many pips as the market permits you.
Margin is the amount of money a trader invested in the Forex trading, it's a sort of bond to ensure against total loss of his/her deposit.
Spread is the difference between the BID and the ASK price and this is the token fee being charged by the broker.
Leverage is the amount of money your broker loans to you, it give a trader the ability to control a bigger trade with your little money. Any market movement will have an equally proportional effect on your deposited fund. See you in the next lesson.

INTRODUCTION TO FOREX TRADING

Are you new to Forex Trading? Do you want to grasps the currency market fast? If YES then come along with me in my serial post while I lead you almost by the hand. But you have to acquaint yourself with the Forex terms, master the languages as being used by the pros.
Now, What is Forex. The Foreign Exchange market commonly referred to as Forex was established way back in 1971, when the exchange rates began to materialize. And all is about buying and selling of currencies. Trading in the Forex Market is a challenging task where above average returns are available for investors who are willing to take above average risk. The Market carries with it a high degree of capital risk and only those who have risk capital, should be trading in the market. Therefore before deciding to participate in the FOREX Market, you should carefully consider your investment objectives; level of experience and the ability to shoulder risk. On a final note and most importantly DO NOT invest money you CANNOT afford to loss.

QUESTIONS THAT BUGS THE MIND

I have decided to leave the first topic i.e Preparing Our Minds; for commentaries before I proceed. Hence I will delve into Forex. When you about to start anything you ask yourself one or two questions i.e HOW and WHERE. Bearing this in mind, I have set out series of posts to help any would-be investor in any field. These postings will afford you the opportunity to get direct answers to these questions bugging the mind.
On Forex Trading for instance, successful trading has to do with YOU. Your discipline; Your Courage; Your Personal Knowledge and Development. But bear it in mind that becoming a successful Forex Trader and being self-sufficient is NOT an "event" but a "process". "Arnold Glascow" in his book said "success isn't a result of spontaneous combustion-You must set yourself on fire". Trading in the Forex market is a challenging task where above average returns are available to investors who are willing to take above average risk. Trading Forex carries with it a high degree of capital risk and only those who have risk capital to trade should be trading in this market. Therefore , before deciding to participate in Forex Trading , you should first carefully consider your investment objectives, level of experience and your ability to take risk. But DO NOT invest money you CANNOT afford to loss.

Preparing Our Minds And Making Money

To Build real and HONEST wealth we have to prepare our minds.I will take you through all the stages of Building and maintaining REAL WEALTH.

VISION

MIND OF A SUCCESSFUL PERSON
A CLEAR MENTAL PICTURE OF A BETTER TOMORROW, GIVEN BY GOD, MOVES A PERSON TO BELIEVE THAT IT NOT ONLY COULD BE DONE, BUT IT SHOULD BE DONE.
Once you have captured this vision, you must find ways to communicate it to your people,in order for it to work. Winston Churchhill they say is a master at communicating vision to his people and tools he uses were:"Strong Beginning; One Theme; Simple Language; Pictures and Emotional Ending".

BIRTH OF A VISION
For many people their vision began just like an idea, without much details or clarity.With time, the idea turns into a major area of interest, and later than sooner it becomes a passion. It then takes shape right inside their mind. Therefore in many ways, the birth of a VISION is much like the birth of a CHILD. It goes through various stages before it matures.
Before you can have a clear cut vision you need to have intimacy with GOD, in order to conceive a true vision. people who gets vision from GOD have spent time with HIM in worship, quietness, solitude and reflection. This type of union enables GOD to speak and reveal what HE wants that person to do. That is when GOD plants the vision-seed inside him/her.
Keep posted. Next time I will take you ,through types of vision and their stages of growth.

GETTING STARTED WITH FOREX

However it is important that a would be successful trader develops the "skills" in order to trade effectively. there are several important qualities of the mind that every trader must build into his/her life. Most people are into Forex Trading just to make fast money without learning how to manage their trading. And the most important factor is knowing the guiding principle. They only anxious to making big money without regards to the size of their account. They only bear in mind how much money they can afford to loss in any given trade, before they will finally HIT the market. These set of individuals, I call the day-dreamers.
Therefore FOREX is about discipline, experience, courage and money management. After knowing the ropes,