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One day, when I used to work at the Chicago Board of Trade, I heard the latest about “Mike”, who was an independent trader. His wife had finally gotten tired of their up and down finances, and she divorced him.

Just like any other trading system, Mike’s system would sometimes produce losing trades. The problem was that Mike did not use a reasonable position size, and did not set money aside from wins. His money was always on the line. He and his wife literally moved from an apartment, to a big house, back to an apartment, back into a house and, after they lost their second house, she had had enough. Continue reading ‘Divorce of a Trader – The Perils of Leverage’ »

Trying to find the perfect present for a special birthday can be hard, especially as bigger disposable incomes mean that people often buy the things they want throughout the year, instead of waiting for a birthday or Christmas. Whilst some people are happy to give their loved ones money or a premium bond on their big day, giving them the present of gold bullion can be much more personal and a longer lasting memory.

Some mints offer the service of customisation, and you can have a unique and personal message included in the design of a gold coin. Whilst this obviously affects the value of the coin to a collector, the person who receives the gift will be able to treasure and display it for the rest of their life. If you would rather give a gift that will provide financial security to the recipient for years to come, buying them gold bullion coins or bars for investment purposes can be just as nice. Whilst they may not wish to store it in their home, having gold bullion stored in a bank vault adds a bit of James Bond excitement to the whole affair. Continue reading ‘Gold Bullion – The Perfect Present For the Person Who Has Everything’ »

Trading for a living is probably the number one reason that makes many people enter the day trading arena. Trading also offers many benefits that can never be matched by traditional nine to five jobs. But, it is also a trap that many want to be traders fall into if they come totally unprepared. Many traders make mistakes and learn from them, and then there are other traders who make the same mistakes and never learn from them. Below, we take a look at the five most common mistakes made by the novice day trader.

(1) Not Having a proper Trading Plan in place : Most people start trading without any kind of plan in place. That is a very serious mistake to make. Every business is built on and thrives on proper planning. A trader should know in advance how much risk capital they are willing to trade with. Traders must stop looking for the Holy Grail and try to get good at one or two setups and execute them religiously. Traders must plan to cut losers off quickly and hang on to winners as long as possible. By not planning their trading, traders set themselves up for failure. Continue reading ‘The Five Most Common Trading Mistakes Made by Almost All New Day Traders’ »

Now that you have decided to invest in small cap stocks, you have to know the best penny stocks to invest in. After all, you want to profit from your investments while preserving your initial capital investment.

This early, you must understand that the top penny stock picks can change rapidly from one day to the next, which is yet another sign of the higher-than-average volatility of penny stock trading. Fortunately, you can apply these methods to choose the best stocks to pour in your investment money, take a tidy profit and repeat the winning process all over again. Continue reading ‘What Are the Best Penny Stocks to Invest in Right Now?’ »

Most likely, our greatest fear as we are nearing or in retirement can be stated in 8 simple words: “Will I run out of money in retirement?” I can see the wrinkled nose and sweaty palms start to kick in as the stress levels rise after someone asks that question. Moreover, it’s not an easy quantifiable answer. It’s better addressed as “it depends” since it is dependent on various moving parts such as interest rates, inflation, withdrawals, etc. that muddies the income and savings waters.

As a Retirement Counselor, I have to sit back, take a deep breath, and then start to outline the events and circumstances that “could” result in a shortfall of money during your retirement. In this article, I will explain a few of these, along with some ‘traps’ and ‘potholes’ to look out for on the road to (and in) retirement. Continue reading ‘Will You Run Out of Money in Retirement?’ »