Category:  Personal Finance

Personal finance covers managing your money. That can be saving and investing. Personal finance includes budgeting, investments, insurance, mortgages, retirement planning, banking, etc. In other words, it is an entire industry that provides financial services to people and advises them about financial and investment possibilities.

Traders-Paradise gives you comprehensive articles on all these matters. We’re covering all mentioned above but our team stepped forward. Here you can find very useful articles about loans, personal loans, pay-day loans, and why some are better than others.

Traders-Paradise provides you, our reader, full and detailed guides on how to apply for loans, how to improve your bad credit score, how to get out a loan even with a bad credit score.

Here you’ll find all about the process of applying, what documents are required, both for online lenders and traditional banks. So, you can be prepared in advance.

Tredares-Paradise team that has experts in different fields, will guide you, with their articles, trough the personal finance issues and help you to solve them.

We are giving you a key to keep your personal finances on the right track. You’ll learn how to obtain skills that can help you in your personal success or your business success. These articles are all about that but with a concrete explanation of personal money management. How to do that, why to do that, how beneficial it is.

  • Making Money From Home – How Is It Possible?

    Making Money From Home – How Is It Possible?


    An ideal job for most of the young people is remote work and here are some possible jobs for making money from your home.

    By Guy Avtalyon

    Making money from home is possible and maybe the most popular these days.

    But, what do your fellows or cousins say when you express your desire to make a lot of money from home?

    Most of them say: “Okay, then go to school. Be a good student. Find a good job and work hard. ” You already know that, and it’s great to have an education. But this is not a guarantee that you will make big money.  On the other hand, you know that there are many people who make a lot of money in a relatively easy and effortless way.

    And whenever you mention to your crowd that you know some guy or girl who are making money from home, what answers you have as feedback?

    “He’s/she’s a thief.” “He/she has connections everywhere.” “It’s not an honest business.” “He/she was lucky.” “He’s/she’s one in a million.” And a bunch of similar stories.

    Yeah! Tell me something about that!

    However, these are just excuses.

    OK, the truth is that you have to work for money. But it is not enough just to do something. It’s important to do it SMART.

    There is a saying: Do it smart, not hard.

    And that’s true. If hard work is the only important thing to gain wealth, all the people in the world would be at least millionaires.

    What does SMART work mean and how can you make money without HARD work?

    It’s very simple.

    Smart work means doing the work once, then for months (sometimes for years) to enjoy the fruits of your work.

    Passive income is making money from home

    When you heard someone say, “I started looking for ways to get a passive income.”
    Probably never.

    But you’ve heard a thousand times: “I started looking for a job.” (Or worse: “I’m waiting for a job.”)

    And when you try to explain passive income to someone, they immediately say that you are lazy.

    I’ve heard of innumerable ways of passive earning. You can write a song, record a home video, patent an idea, write a book. You can sell handmade on Etsy, you can be freelancer, virtual assistant, or you can sell cookies. Or even simpler, you may begin to earn money from home, by trading.

    With the rapid development of computers, mobile devices, and faster Internet, there are more and more opportunities for automating some jobs and generating passive income.

    I’ll give you the ultimate beginner’s guide to trading online. First of all, you have to recognize different kinds of trading.

    What to trade while making money from home

    STOCK TRADING: That is the art of buying, holding, and selling stocks (also called shares) of securities listed on public stock exchanges.

    FOREX TRADING: That is the art of buying and selling currencies in the hopes of making profits on the difference in the value of such currencies in global economics.

    OPTIONS TRADING: That is the form of derivative trading in which people trade contracts that give them the rights (but not obligation) to buy or sell an underlying asset at a predetermined price.

    BINARY OPTIONS TRADING: Form of trading in which traders expect to earn a predetermined payout or nothing at all (they are also called all-or-nothing options) based on the success of their ‘prophecy’ of the outcome of a specific market event. Little complicated and not secure.

    YOUR FIRST TRADE

    You’ll need to decide on the kind of assets or securities you want to trade. After that, you’ll need to make is choosing the right broker or brokerage firm through which you’ll access the markets. That’s very important because the broker you choose will have a direct influence on securities you’ll be able to trade, on tools you’ll have at your disposal, how much you’ll pay in fees, and what final returns you can expect on your trades.

    You have to find a broker that would charge relatively low fees and provide you with a full package of resources to make your trading experience easier.

    TRADING STRATEGIES

    The main difference between trading and investments is that a trader seeks out market movements for profit, on the other hand, an investor waits to profit from long-term price movements in the assets in their portfolio. A trader will make tens or hundreds of trades within a week while an investor will buy and hold an asset for months or years. The first action in creating your trading strategy is to create a trading plan.

    A trading plan is like writing a business plan for some entrepreneurs. It will help you to make a realistic decision in periods of rapid market movement when your emotions might lead you to make impulsive decisions.

    A trading strategy should include specific goals such as: getting out of debt, retiring early, making your first million. Also, your trading strategy should include your asset allocation and diversification moves.  As a beginner, you shouldn’t put more than 5% of your trading capital per trade. Make sure your trading strategy contains a mix of fundamental analysis of global events, like wars that impact oil prices, but also technical analysis like trading rules based on price and volume transformations.

    It is important because you can use this information to determine your entry into trades, your exit when the trade goes your way, and your escape when the trade goes against your plans. In you, your best interest is to develop the disciple to incorporate stop/limit loss orders into every trade you place.

    New traders can use technology to lower the entry barriers to trading by automating many of the activities.

    THERE ARE SOME OF THEM:

    * Trading bots – This is simply computer programs with instructions based on a predetermined set of market indicators and parameters. You can use automated trading systems to trade stocks, options, futures, and foreign exchange products. It is based on a predefined set of rules, which determine when to enter an order, when to exit a position and how much money to invest in each trading product. Trading bots are especially helpful to beginner traders and sometimes, a bot can be an important market ally for reducing your losses.

    * Stock screeners – That can help you filter the stocks in the market to narrow down potential winners before their big breaks. Screeners are helpful to identify top winners and losers, stocks on momentum, and stocks that are possible to break out above resistance levels or break down below support levels.

    * Social trading – This is a type of trading in which traders rely on users’ financial content, gathered from different networks. This type of trading provides you the platform, so you can be part of a society of successful traders. That may help you to make your own trading decisions.

    WHAT YOU HAVE TO REMEMBER

    Always use a trading plan, don’t underestimating the importance of a trading journal, change trading strategy after every trade.

    Test your trading skills on some FREE DEMO ACCOUNT in a virtual environment before you start risking your own money. Practice trading strategies so that when you’re ready to enter the real market, you’ve had the practice you need.

    Do you have any experience in trading? Share with others.

     

  • The Best Broker and How To Choose?

    The Best Broker and How To Choose?

    forex broker
    Choosing the best broker seems like a simple process. But in reality, it can be a nightmare.

    By Guy Avtalyon

    Finding the best broker is not easy. Not at all!!! I’ll give you seven tips on how to do that.

    In the very beginning, you want to be sure that the broker has the right credentials, understands the market, has similar wealth-building beliefs as you do. Trust me.

    What is the main point  when you have to choose the best broker

    a) make sure a broker offers the services and features you most need,
    b) don’t pay extra for services and features you don’t need or want.

    The best approach is to make a list of facilities you want from your broker. 

    Tips and tricks for choosing the best broker

    1. Minimum Trades  – Check if there is a clause about minimum trades that you will have to do as well as the penalty for not complying with the requirement. There are actually brokers who have no minimum requirement or require only a few hundred dollars.
    2. Costs – Consider the commissions and other fees that broking companies charge.  Brokers typically have a wide assortment of fees for cost per trade. That’s the holy grail of the online brokerage universe.
    3. Customer service – Look for customer reviews online or on specialized forums, please. Make sure that the broker offers such support and it’s available during more than just “regular business hours”. Check if it’s available in various forms: email support and live chat can be more convenient contact methods than a direct phone.
    4. Investment options – Some ‘’full-service’’ brokers may not offer products of all asset management companies or AMCs. A good broker is one that offers you the ability to invest in a large number of assets: stocks, bonds, mutual funds, exchange-traded funds (ETFs), real estate investment trusts.  You will need a broker who can provide you with all of the possibilities if you want to spread your investment wings.
    5. Investment Advice – The problem may arise if you are not DIY (do it yourself) type. Some brokers will offer limited investment advice, while others will provide a full investment advisory service, usually for a small fee, some will charge a higher fee if you need broker assistance. You have to explore what suits you best.
    6.  Asset Allocation Guidance – Especially for new investors Asset allocation is one of the more challenging investment functions. It can be complicated enough to decide on initial asset allocation, but even more, involved to maintain that allocation going forward. Periodic rebalancing is not the easiest of tasks if it must be done manually and will be necessary to do from time to time. Most robo advisor services will handle asset allocation and automatic rebalancing as part of their account management fee. If you’re looking for “hands-off” investing, robo advisors could be the best option for you. You have to find out if the broker offers this service and if there is an additional charge.
    7. Types of Retirement Accounts  – It’s best to confirm this at the very beginning that the broker offers multiple types of retirement accounts to invest in. And even if you want only a regular investment account right now, you may decide to open a custodial account for one of your children in the future. If you have confirmed that these options are existing before you first sign-on, you can be relaxed. I know that most investors like to have all of their various accounts with a single broker, particularly if they are happy with the service.

    What type of trader do you want to be?

    Are you an active trader or buy-and-hold investor? Whatever you are, it will affect your choice of broker. If you are a buy-and-hold investor and invest in index funds, making a few trades per year, fund selection may be more important to you than low transaction fees.

    You have to determine if you’re an investor which means long term investing, or active trader, short term trading. If you are still learning how to trade stocks online, you shouldn’t rush into choosing a broker. Everyone eventually develops their own trading style.

    Online stock brokers offer a wide array of features and fees. Choosing a broker with a good reputation is worth it. Someone with the features you really need and a reasonable fee structure. Don’t let yourself be attracted by a platform with the bells and whistles. Especially when you are at the beginning.

    Readers, what do you look for in the right investment broker? Let me know and share it with others.

     



  • 10 Things You Need To Know Before Choosing A Broker

    10 Things You Need To Know Before Choosing A Broker

    10 Things You Need To Know Before Choosing A Broker
    One of the biggest decisions you’ll have to make is which exchange or broker to deposit funds with.

    By Guy Avtalyon

    What do you need to know before choosing a broker? A decision to choose the broker may be a nightmare for traders. If you read about them on various forums or read paid bad reviews, you can really find yourself stuck in that. One of the biggest decisions you’ll have to make is which exchange or broker to deposit funds with.

    If you’re looking to buy a cryptocurrency in an ICO, the advice is to read the company’s prospectus for this information:

    a) Who owns the company? A recognizable and popular owner could be a positive sign.

    b) Are there other major investors who are investing in it? It’s a good indication if other famous investors want to invest in the currency.

    c) Will you own a stake in the company or just currency or tokens? This distinction is important. Holding a stake means you’ll get to share in its earnings, while buying tokens simply means you’re allowed to use them, for example, like chips in a casino.

    d) Is the currency already developed, or is the company looking to raise money to develop it? The further along with the product, the less risky it is.

    What things you need to know before choosing a broker

    Before you jump in all of this you have to check:

    1) Demo Account: Before risking your own money, it is absolutely crucial you trade with a demo account. You need to know before choosing a broker if it offers a demo account Demo accounts are the best option a trader has to test a trading strategy and evaluate how they are as a trader. It might not be perfect, but it is better than the alternative of jumping straight into the deep water.

    2) Accessibility: Before you sign a contract with a  broker, test out their customer service and support. Are they accessible? If you have a problem whether it is technical or general, is there someone there whose only job is to provide you better service?

    3) Legitimacy: It is important to check on the broker’s website for any additional financial information and statistics about the brokerage. If it is not there, check on the parent company’s site, and if you cannot locate this information, this should raise a red flag. This is information you need to know before choosing a broker. 

    Also, you can CHECK HERE

    4) Resources: It is important to ensure that the platform competes with the market standard of including real-time charts, integrated technical analysis tools, live news, and updated market data, and sometimes support for trading systems.

    5) Foundation: The number of online brokers is expanding fast, so you’ll need to check and double-check before signing anything. Particularly if it involves very large amounts of money. It is therefore important to investigate who and what is behind the brokerage and how strong its foundations are.

    6) Competitive Spreads: After determining the integrity of the online broker, now you need to evaluate the quality of their offering.  It is of absolute importance to find a broker with the smallest spreads. That will warrant maximum profit for you.

    What else is important when picking a broker?

    7) Leverage Flexibility: is one of the most important advantages of the market. But large leverage is not always the top option for all traders. The larger the leverage involves the higher risk. So if you have limited money, higher leverage will increase your opportunities, that’s sure. On the other hand, if money isn’t a problem, lower leverage is better to pick.

    8) Account Types: Alike with the leverage, the type of account you choose will depend on your needs in trading. When choosing a broker, it is important it offers several types of trading accounts.

    9) Lenient Margin Rules: If a brokerage has strict margin rules, you might encounter a sharp decline in one of your positions. So, before it gets a chance to recover and make you some profits,  your broker can make a margin call. That can liquidate your account. This will result in great losses for you. It is important to know that broker’s margin rules are not too severe.

    10) Emotionless Trading Features: You need to trade in a cold and calculated way so as not to let your emotion get the best of you. One of the guiding principles in successful trading is “Leave emotion out”. This is done by setting a broker’s trading platform and under no circumstances deviating from them. The main advice is don’t rush into it, check your broker against the above criteria, establish a trading strategy, examine the market using technical and fundamental analysis.

    And experience of other traders too.

  • Attempt To Neutralize The Gray Economy Or More Control Of Citizens?

    Attempt To Neutralize The Gray Economy Or More Control Of Citizens?

    1 min read

    One of the most read online publications brings the news that the Australian government has made big cash payments illegal.

    The right question is, is it just giving a free boost to cryptocurrencies such as the Bitcoin?

    Or attempt to neutralize the gray economy?

    ”From July 1, 2019, any business transaction over $10,000 has to be done using electronic payments. Handing over a hundred $100 notes or more will be illegal, as the government tries to flush out tax avoiders, drug dealers and the rest of the underground economy. Bitcoiners and other cryptocurrency fans predicted this, and the government is playing into their greedy little hands.” wrote the mentioned publication.

    The most intriguing question is why the Australian government made such a decision.

    The Australian government is quite progressive with blockchain.

    They’ve given a grant to power edger. Australia Post is working with Alibaba and the stock exchange is moving to the blockchain. They are trying to reduce the gray economy and know they’ll have more success with blockchain.

    At first look, everything is screaming of free will and giving out of control. I think I understand their reasons.

    But, is this the right move?

    Do they (the governments) realize that they are providing more room for the cryptos?

    I don’t think so. Luckily!

    Neutralize the gray economy?

    Well, truth is that cash is used for drugs and money laundering, so at first glance, you may think that you can sort of see their point.

    But if you think a drug cartel can’t find a way around, you are fooling yourselves. That’s why this isn’t a way to neutralize the gray economy.

    On the other hand, the Australian government clearly stated that they want to accelerate the movement to the digital economy. Maybe the people who make the decisions want to move to digital money, but of course centralized digital money.

    Governments can ban crypto in the same way, unless they’ll be able to track payments.

    In most of the countries of the EU, this is already an unofficial law.

    This is kind of dumb because you are forced to have your pockets filled with heavy metal coins. You can find the laws or regulations of cash limitation in Greece, Portugal, Germany, Italy…

    And what they are doing is banning the free will actually! All of them!

    You would like to read about banning Bitcoin in India

    Cash is money outside of government control. Prohibition of cash will only divert more funds into crypto, outside of fiat system. And this is the reality with which governments will face very quickly. It’s scary that these countries limiting cash payments, and that people are not more concerned, one might say. Many people are still stuck in their old ways and refuse to see the answer. The only possibility is to continue with education. People should know that regulation will help popular acceptance of cryptocurrencies, however, you can only regulate the gateway between fiat and crypto.

    That’s why this regulation and cash ban is bonkers.

    Why issue bills and then say it’s illegal to use them in large amounts? Slowly but surely governments are edging towards a cashless society. And that is an opportunity for cryptos. People will realize that Bitcoin or some other cryptocurrency can be used for everyday transactions.

    Cryptocurrencies’ time is coming, that’s for sure!


    But some people have this point of view: Bitcoin/crypto is a government’s dream. They want to force everyone to eventually use it so your payments can be totally tracked.

    This applies only to those who are not familiar with blockchain technology.

    Blockchain technology created the backbone of a new type of internet by allowing digital information to be distributed but not copied. The blockchain database isn’t stored in any single location. No centralized version of this information exists. Hosted by millions of computers simultaneously.

    Yeah, it’s kinda tricky!


    You can track 3 or 5 or 15 accounts but track billions are impossible.

    You MUST read Why you shouldn’t invest in bitcoin under any circumstances