Stock Market Wisdom-Learning to Trade Like the Legends, Part 3
All the very best traders and investors have a method that will give them an edge. Having an edge means the odds, or probabilities are in your favor each time a trade is initiated. The method implemented depends upon the individual traders philosophy. It can be technically based, fundamentally based, or a combination of both. It can be short-term or long-term. There are very successful traders with methods that are completely different. You simply can not win unless you have a method that puts the odds in your favor. This includes the stock market, or any other trading venue.
Discipline is an absolutely crucial element. All the great traders and investors know that without discipline, it does not matter how good your trading plan or method is. You need discipline to implement your trading plan. You can not be second-guessing your entry signal, exit signal, and money management rules. Basically, you must have the discipline to completely follow every part of your trading plan. This will also help keep emotions out of your trading.
Top traders and investors fully understand that sometimes a trade you put on, is not going to work out. They realize that some trades are going to result in a loss. The key is to keep all losses small. There are fantastic traders in the stock market and futures market, who only win about 50% of their trades. The key is their winning trades tend to result in substantial profits, while their losing trades result in only small losses. The best traders know they will win over the long run. Taking a small loss does not bother a great trader at all.
About Author Hi, I’m Gary E Kerkow, founder of Tradingmarkets4u.com. This site provides information to help traders and investors become successful. I have over 20 years of trading experience including stocks, futures and options. Visit my website at http://www.tradingmarkets4u.com
Iran Announces End to Food and Fuel Subsidies
Tehran, Iran (AHN) – Struggling for months to implement a so-called targeted subsidies law aimed at redirecting government subsidy money more on infrastructure, investment and jobs creation, Iranian President Mahmoud Ahmanidejad announced on state-run television that existing government subsidies on fuel and food, largely benefited by middle-class consumers will end.
No specifics however were given on how this so-called “revolutionary experiment” is to be implemented. What is certain however, is that the phasing out of the subsidies will be done over the course of five years and will begin in the first year with utilities such as rice, wheat, vegetable, oil, sugar, milk, mail services and air and rail services.
The announcement was made just when steep price increases in heating oil, electricity, transportation, food and water have begun to creep in, partly due to the declining value of Iran’s currency and the increased costs of imports in the face of international sanctions over Iran’s nuclear program.
Ahmanidejad’s rivals in parliament however, doubt the program considering that Ahmanidejad has been known to focus his spending more on flashy projects that merely bolster Iran’s image as a technologically advanced country going nuclear.
They also suspect that the diverted USD$40 billion subsidy money would be given to loyalists in the form of grants and giveaways to appease opposition and re-position himself strategially for the coming 2013 elections. Hence, discussions are underway to form a special auditing unit to oversee the redirection of the funds.
“Everything is dependent on the subsidies,” said one Tehran political scientist and former politician, who spoke on condition of anonymity. “If it works, he’s going to elevate himself. If Ahmadinejad is successful economically, he’ll be successful politically.” Observers are of the view however, that the current government will botch up the plan.
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Lloyds Banking Group expected to make full-year profit
Lloyds Banking Group will confirm this week that it remains on track to make its first full-year profit since the bank’s partial nationalisation two years ago.
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Cocoa one hiccup away from – another – deficit
ABN Amro analysts cut their forecast for the world cocoa surplus, and warn that even this outcome factors in sanguine assumptions
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Choosing a Forex Broker
For newcomers to the online forex market, choosing a forex broker is a key step to becoming a successful trader. You will want to choose a broker who will be a good fit for you and who has the experience necessary to help you be successful. The choice should be one that will last throughout your trading career. A “good” broker is not necessarily the right broker for every trader. You need to find a broker who will match you in aggressiveness, who is experienced working with the kinds of investments you are wanting to make and that you can afford. Following are some simple steps to follow in the process of finding a forex broker.
Step 1: Research
When seeking a forex broker, there are certain credentials you will want to look for. Be sure to find a broker who is registered with one or more regulating authorities. Brokers in the United States should be affiliated with the National Futures Association (NFA) or the Commodities Futures Trading Commission (CFTC); for brokers in the United Kingdom, look for the Financial Service Authority.
How much or how little leverage does the broker require for a trade? This question is very important to a new trader who does not have a lot of capital to work with. Some brokers will only broker a deal with a substantial investment. If you are a conservative trader or have a slim budget to get started, be sure to seek a broker who will work with what you can afford and will not pressure you to go beyond your limits.
If you plan to hold positions overnight, it will be necessary to find a forex broker who credits or debits daily rollover interest. This is a practice that not all brokers will take part in, and depending on the kind of trading you are hoping to process, this will be a very important point.
Step 2: Compare Brokers
Once you have researched a number of forex brokers, and have narrowed your choice down to the top two or three options, take the time to compare their histories and statistics. There are websites available that will delineate vital information about each broker so you can compare their strengths and weakness, their habits, and their requirements. Use this to rank your choices.
Step 3: Open Demo Accounts and Ask Questions
Demo trading sites are available online. New traders can “practice” without investing money at these sites. It is advisable that you choose two brokers, and open a demo account with each of them. This will give you an opportunity to experience simulations of real trade experiences so that you can ask educated questions and observe each broker as they respond to various situations. The advantage here is twofold: first, you will learn a great deal about the practice of forex trading before investing any real money, and second, you will get to experience each broker’s techniques and reactions in real life scenarios. After this experience, you will likely have chosen your most appropriate forex broker.
Six-Figure Haul Likely For Nuns With Honus Wagner Baseball Card
Baltimore, MD, United States (AHN) – The School Sisters of Notre Dame are raising money for their cause in an unusual way as they are auctioning off a Honus Wagner baseball card, expecting to yield over $100,000.
The card is part of the T206 series, produced between 1909 and 1911. About 60 Wagner cards are known to exist.
A near-mint-condition T206 Wagner card sold in 2007 for $2.8 million, the highest price ever for a baseball card.
The card was left to the School Sisters of Notre Dame by the brother of a deceased nun. The card is expected to fetch between $150,000 and $200,000.
On Wednesday morning, the highest bid was $60,000.
Proceeds will benefit the sisters’ ministries in 35 countries.
Nicknamed “The Flying Dutchman,” Wagner played for 21 seasons, including 18 with the Pittsburgh Pirates. He has a .328 career batting average and was one of the five original inductees into baseball’s Hall of Fame.
The card was printed by the American Tobacco Company while Wagner was one of the best players in baseball.
Production of the Wagner card was halted soon after it began which some have chalked up to Wagner not wanting to promote tobacco products to children.
Others believe it was a dispute over money.
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Whirlpool 3Q Profits Down 9.2 Percent
Benton Harbor, MI, United States (AHN) – Whirlpool reported third-quarter profits Wednesday that met analysts’ expectations but declined 9.2 percent. The world’s largest appliance manufacturer lowered its full-year outlook for shipments in North America, citing a challenging economy.
Earnings for the quarter ended Sept. 30 was $79 million, or $1.02 a share, down from $87 million, or $1.15 per share, a year ago. Adjusted for charges under a $93 million agreement with the Canadian and U.S. governments to settle a price-fixing case of a subsidiary, profit was $2.22 per share.
Sales rose 0.5 percent to $4.5 billion, driven by double-digit growth in Asia and Latin America.
Revenues in Asia increased 21 percent to $195 million. Without currency adjustments, sales rose 16 percent. Whirlpool expects its shipments to the region for the full year to jump 8 to 10 percent, instead of 5 to 8 percent as it had previously forecast.
In Latin America, sales rose 13 percent, or 9 percent excluding currency shifts, to $1.1 billion. Full-year outlook for shipments in the region remains at 10 percent.
Sales in Europe fell 8 percent to $827 million but the Michigan-based company says it expects shipments to increase 1 to 3 percent.
North American sales dropped 3 percent to $2.4 billion. Whirlpool lowered its full-year forecast of 5 percent growth in shipments to 3 percent.
The company projected full-year earnings per share of between $7.80 and $8.30 after charges under the anti-trust plea agreement. Before charges, earnings are expected to be $9.56 to 10.06 per share.
“As expected, we faced a challenging environment during the quarter which resulted in a significant slowing in sales growth compared to the first half of the year,” chairman and chief executive Jeff Fettig said in a statement. “Our ongoing focus on cost reductions, productivity and innovative new product launches continues to enable us to adapt to changes.”
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Stocks Make Slight Gains
New York, NY, United States (AHN) – U.S. stocks banked on rising consumer confidence to counter a slump in the materials sector and eke out slight gains on Tuesday.
The Dow Jones Industrial Average ended 5 points higher to 11,169 on the strength of gainers Walt Disney, Wal-Mart and Microsoft. Chemical giant DuPont was the top loser with its 10 percent shortfall in third quarter profits.
The Nasdaq Composite Index was up 6 points or 0.26 percent to 2,497 while the Standard & Poor’s 500 Index rose 0.02 point to 1,186.
Oil for December delivery rose 3 cents to $82.55 a barrel.
Gold futures for December delivery dropped 30 cents to $1,338.6 an ounce.
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Why Should You Trade in Commodity?
Commodity trading has immense opportunities for those who are interested in diversifying their investment portfolio. The returns are much quicker than any other investment trading, allowing you to earn quickly. Moreover it also gives the trader the choice to choose an online broker along with lower commissions so that their profits are large. However it is best to be well equipped before you begin commodity trading in any commodity. Knowledge will keep the investor wary of any kind of lurking danger in Commodity trading
Let’s understand the benefits of commodity trading markets.
Online commodity trading – Online trading in commodities is an excellent choice since the investor will find it to be one place where everything needed is found. With online trading software as soon as the trading account is logged into you will find information on future trades, technical analysis, quotes, charts as well as research that will help you make the right investment choice. This is one reason why traders are free to trade in the commodities of their choice, and make their own decisions when it comes to buying and selling. Traders now no longer have to do the hard work, but can still stay on top of the trade by making the final buying or selling and even selecting commodities to trade in.
Commission – Online Commodity trading is the best option or else you cold also get a broker who will manage your account. Executing the trade is instant and trading over the phone is only a waste of time. You will also enjoy low commissions when you decide to trade in commodities. Infact it is now possible to trade in less than $10 for a round turn though an online broker. This helps in making a very profitable trade that also includes day trading, short term trading and even spreads. With lower commission charges and high returns your profit margin is much higher as compared to forex or stock trading.
Leverage – Since commodity trading works on the margin system, in other words if you have to take a position in a trade you could choose to have only a fraction of the value that is available in cash present in your trading account. No uptick rule – Futures contracts which is also a type of commodity trading can be easily bought and sold. This allows the trader to make quick profits with the rise or fall in the markets, depending on what suits the investment.
Corn processors regain ‘whip hand’ in price talks
Power in setting prices for corn sweeteners has returned to the likes of Archer Daniels Midland, Cargill and Tate and Lyle, Credit Suisse says
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