INETCASH RESOURCE

FOREX TRADING: a job or an investment

Fri, 12 Sep 2008 23:45:24 +0200

FOREX TRADING: a job or an investment.

The much amplified voice in favor of the FOREX market over the last 3years has diverted a large volume of the public into the market from other investment portfolio. However the fact remains that there more people trading FOREX and not making anything out it or even loosing the little they have put there. FOREX is a much secured market where you don’t have any reason to entertain fear but it is very technical it is very easy to make and loose money. I see a lot of people trading FOREX but it is not evident on them because they are still crawling in the business because they don’t have enough money to set a good start up. Some even have the money but they don’t have time to go through the stress of the technical and fundamental analysis as consistent as it should be. A good and profitable FOREX trader should have the following materials:
1. A personal Computer connected to the internet
2. A domiciliary account
3. A minimum of 4weeks demo trading (depending on how consistent you trade and your performance)
4. A minimum of $1000 you can loose

Hey I don't mean you cannot trade at all if you don't have these qualifications. What I mean is that your financial success might just be crawling in FOREX, taking 5steps forward and 3 steps backward. Another thing about FOREX trading is that it demands your time if you really want to make something out of it.

So the question comes

Is FOREX Trading a Job or an investment? If I am really ready to make it Big in FOREX, do I really have the time to go through the training, practicing and the actually trading itself?
The hard truth about this money pool that a lot of people have failed to accept is that not every body can be in the pool but those that cannot swim in the pool to catch the fish can send a good swimmer to the pool and catch the fish for them while they share the proceeds. What that means is that not every body can be a FOREX trader. If you really want to catch the big fish in FOREX, you must take it as a Job, just like a banker goes to work. You need time to study those big charts and indicators and you must be kept abreast of every information about the world economy because that is what you are dealing with.
Therefore some people must trade FOREX and some people will invest. Some people have the minimum of $1000 to loose (remember never invest more than you can loose into any investment) while some people have the time and dedication for the trade.
I guess you are beginning to discover why you have probably been trading FOREX for so long and seem not to be moving. Just imagine that you are a building contractor and you are also trading stocks on the floor of the Nigerian stock exchange, how possible is that? But what we all do is give some people our money and they take their time on the floor to trade for us. That is the same way FOREX trading should be done, if you are a trader, be a full time trader, if not, be an investor.

My crew (bizforce crew) contains a FOREX trading fund management team with over 3years experience of consistent and cognate and reputable profile of success. We enter the pool and catch the fish for you. Allow us to give the time and brain you give the money.
Go to www.geocities.com/bizforceng click on the service link.

The conclusion is this “no your place in ForexTrading, is it your Job or your Investment?"

Comments

COLLATERAL LENDING

Fri, 12 Sep 2008 23:35:14 +0200

DESPITE A MOUTH WATERING COLLATERAL WHY DO BANKS STILL FAIL TO GIVE LOANS?

If you ask an average man who need funds for a certain business why he did not go to the bank to get a loan, he will tell you "I don't have collateral".
Well it might be very shocking to let you know that the last thing the bank wants to see to be able to give you a loan is your collateral. Infact there is something called collateral lending which banks discourage. It is giving out a loan based on the collateral of the applicant.
Not that banks reject collaterals but it is no the first and most important thing. There are lots of people who have gotten a loan from banks without collateral in very large quantity.
So what do the banks need to see before they can release that money?
There are four major things you must possess.

1. You must be a current account holder.
Most banks don't recognize savings account holders as bonafide customers no matter how much you have in the account. You must have current account on the minimum given that you cannot open a corporate account.

2. Your characterDid I hear you say "what does my character have to with getting a loan"? Banks are not going to dear give a loan to a drug peddler or an armed robber for instance, else they become a party to crime and you know what that means to the bank.

3. Business plan
This is also very important. The banks need to see your plans, strategies and analysis of your proposed business. They need to know if the business you intend to use the money for will be able to generate their money back and will also stand the test of time. What is most important in your business plan is a detailed analysis of how you will spend the money, how much will the business generate, when the business will generate your prospected revenue and what strategies you intend to put in place to get your business to those that will need it and buy it. One thing you must not forget is that a written plan is not as complex as a winning plan. I strongly advice you not to try developing your business plan by yourself. That job is a lot professional; you need to employ the service of a business development or management consultant. They know the twist and turns that you will never be able to see. Well I am a business development and management consultant so I think I can help.

4. Your capacity
Yes, this is the most important thing you need. The bank is keenly interested in your capacity to spend the money they are about to give you without misappropriation. They don't want to give out money for a building project and you now use it to buy a car. The other thing is your capacity to pay back.
All these can be known by any good credit officer in your bank without seeing you. What they look at is your cash flow. Your cash flow is a measure of your inflow and outflow ratio. This can be discovered through your account History with the bank. That is why the bank will tell you that you must maintain your account with them for at least three months before you can apply for a loan, some will even say six months. I think this is the common mistake a lot of people make- they go to the bank with a very profitable business plan, open a current account and submit an application for loan that same day. The bank must know your financial strength before they can give any thing to you.

WOW, I think I have to stop here but this is not all about it. Guess what? What you have just read is a summary of my 42 page book: BUSINESS FINANCING: from idea to ideal.
I have answered your questions in that book in full detail.
Go To www.geocities.com/bizforceng to read more about my book.

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FOREX TRADING: a job or an investment

COLLATERAL LENDING

Business financing

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