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What do you need to become a profitable trader?

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Many traders are concerned about the required timeframe to become a profitable trader. They try to get a basic idea of how much time it takes to become a proper trader. It must not be the main concern of the rookie trader. Instead of thinking of the timeframe to ensure a decent profit, you need to think of the trading quality. It is necessary to think of the trading plans. If not you, someone else will take your place with an improved trading mindset. He or she would work with a proper trading plan. There can be a good risk management plan for the trades. With the two important things for the trading business, it is possible to manage a decent profit from the trades easily.

All of it is not possible unless you ask the right question related to becoming a profitable trader. In this article, we will discuss the necessary aspects of trading properly. You will get the idea of preparing a proper plan for the trades. Besides, you also will get a decent idea of risk management.

Take care of the risk exposure properly

To become a profitable trader, you will need a proper risk management plan first of all. It will improve a proper trade setup for the executions of the trades. The risk management plan helps you to create a proper order for the trades. Being concerned about the safety and security of the trading business, the traders think of the least investment into the trades. Then they also decrease the investment with simple leverage. You need to know a decent risk management plan so that the risk exposures get a consistent setup every time of executions.

If you use a 1% risk management policy and leverage it with a 1:10 ratio, it will be good for your business. It helps to work with a proper position sizing. From the influence of decent risk management, you will also think of decent profit potential. So, the market analysis will be easy for you to handle. With all things covered for quality execution of a trade, it is possible to expect a decent profit. Make sure you use the best SaxoTraderPro trading platform to filter the best trades. Keep things simple in trading to reduce the risk exposure.

Use an effective trading plan

From the risk management plan, the pro AU traders will hold the trading money properly. But, the actual execution of the trades will need a proper plan. That is why the position sizing and market analysis needs a proper plan. The traders need to be consistent with every single procedure of trading. Along with the risk per trade, it is also necessary to trade with profit target. When you have a decent profit target like 2R as compared to the risks, use the other strategies for the position sizing. Try to find a proper signal which can satisfy the pip count necessary for your profit target. Also, try to use the fundamental analysis to understand the market condition properly.

After every necessary element is being used for a quality trading approach, you can expect profits. Even if the market behaves the opposite of your assessment, you can handle the losses with proper stop-loss. For a rookie trader, it is the first duty to learn to be safe in Forex trading.

The position sizing is very important

If the traders can define a position sizing for the trades, it is possible to set the stop-loss and take-profit. They are both useful to keep your trading business safe from losses. The stop-loss helps to protect a trading position from losing too much. On the other hand, the take profit helps to be safe when sudden price movement tries to turn your profit into a loss. Both of the tools are good with the executions of the trades but traders need to learn using proper position sizing. If they can learn the best market analysis strategies, it will help them to set proper entry and exit points for the trades. Thus you can use the stop-loss and take-profit properly.

7 Steps for Starting a Non-Profit in Australia

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Do you want to start your own non-profit? Do you have a specific cause that you want to teach the community about? Here are some things you should consider before beginning your journey. The following tips will help you avoid making any potential mistakes and get your organisation off and running.

Determine the Need

Your sole reason to start a non-profit isn’t because you want to feel better about yourself. That’s never a good reason to start one. Determine your need for a starting a non-profit. Make sure you’re filling a need in the sector or you’ll be up against competitors that deliver a need to a certain community or group.

Do a simple Google search for other non-profits like yours in Australia. Or, you check out the website Pro Bono Australia to find out what other charities are doing in your area. This can help you determine a need and find out what you can do better than them. You should figure out if there’s already an organisation that’s doing what you’ve been wanting to do.

Engage With the Community

if you’re going to start a non-profit, you’re going to have to engage with your community. That means getting yourself out there in the public eye. Most organisations and non-profits work directly with the communities they serve. Make sure that your team members are involved with your organisation before getting involved with your community. Your non-profit could quickly fail if no one puts effort in it.

Create a Strategic Plan

The next thing you should do is come up with a strategic plan. These plans help you find out what these organisations exist and what goal they’re trying to achieve. Creating a strong strategic plan can help your organisation stay on track in its first years of operation. Your business plan should include your goals, mission statement, objectives, and vision that can help you meet these goals.

If you never created a strategic plan before, reach out to a business colleague to help you through the process. Even Pro Bono Australia has a website called Volunteer Match that connects people with non-profit who are looking for specific services.

Don’t Get Founders Syndrome

When you start your non-profit, you don’t want to get founders syndrome. This happens to a lot of founders of non-profits, organisations, and startups. Some common symptoms of founders syndrome include hiring your friends and colleagues to work for you. The identity of your non-profit becomes your sole personality. You may also prevent others who want to be involved with your non-profit. In other words: don’t let your organisation go to your head and only hire people who are qualified to perform the job.

Protect Yourself Legally

If your non-profit delivers services or goods to your community, you want to make sure that your organisation has insurance and is incorporated. You should also receive a deductible gift recipient (DGR) before you receive donations, grants, or other types of funding. Donation software can help you determine your donation goals, accept monthly donations on your website. You can accept donations via Apple Pay, ACH bank transfer, credit cards, and PayPal.

Assign Team Members

You want to hire a group of people who are diverse, talented, and committed to your cause. They should be interested in helping you reach your goal. Some founders want to do everything themselves while others want to hire their friends and family members. You can’t do everything yourself and it’s something dangerous to work with those closest to you.

Before you start your non-profit, you should have an administrative and financial department. These group of individuals should help you with the accounting, budgeting, and adopting a code of conduct for how you operate as an organisation. It’s important to establish policies and procedures and ensure that everyone follows them.

Set Yourself Up for Failure

Starting a non-profit can be a complicated process if you don’t go through all of the steps. Many organisations don’t last after a few years of operation. Come up with an exit strategy for yourself and the stakeholders who work with you. Plan for failure even if it doesn’t happen right away.

Remember to make the most with what you have. You can use your voice to bring awareness to a specific cause. It can be made possible as long as you take the right steps to start your non-profit organisation. The Internet has plenty of resources that can help you out. Whether it’s creating an online presence or writing content, there’s a resource for everything.

5 Strategies to Minimize Abandonment of Shopping Carts for Your Online Store

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Once a customer makes a few purchases from your store, they are bound to be loyal. However, abandoned carts are always a problem for most online stores. Luckily, it is easy to manage them and get back your loyal customers to their buying behaviors. Some of the tactics you can use include:

Follow up on abandoned carts

Regardless of how strong your SEO strategy is you need a plan moving forward. Following up on abandoned carts is the first strategy you can make a follow up on. Once you have a SEO agency set up the framework to drive more traffic to your site, you can proceed with your core skills. Follow up on customers who were once buying from your store and lure them back to continue doing the same.

Manage your leads from the start

It is a long road from the time a person visits your online store to when they choose to buy. Most of the time potential customers will give up along the way or take a lot of time before they can buy from your store. Luckily, you can close a sale within a short period if you choose to manage your leads from the start. Once you drive quality traffic to your site with help from the best SEO agency, you can start managing them from there. Allow yourself to ask them for help as soon as they show up on your site. You can offer to help them find an item with ease and close that sale within a few minutes.

Utilize email marketing for buying customers

Email marketing is what every online store should use not only manage abandoned carts, but also to increase the conversion rate. The returning customer is your major asset as they guarantee that you will have sales in future. Always treasure that and by using email marketing, you can win every day for loyal customers. To maintain that spirit of buying, you will need constantly send promotional emails to customers and remind them of the best offers they are missing out on. Consult a SEO agency with expertise in email marketing to optimize your email content for objective marketing.

Keep track of the customers ‘buying behavior

The buying behavior should have an even pattern for a loyal customer. If you identify any deviation from the norm, then you should move in to find out what went wrong. Did the customer change stores, or did the customer move? It helps you to keep a record and remind the customer to come back now and them. If they went to another store, then they might come back when they hear from you.

Respond to views and responses from customers

Since you are running an online store where people are spending their real hard earned cash, then you have to respond to their queries. Whether positive comments or not, you need to keep your composure. It is all about making the customers happy. If the customer is not happy then your business will be in danger or losing revenue. You have to make sure that you follow up on any issue and respond as fast as possible and assure a better service. Also, respond to complements from customers to a cordial relationship.

Find Out Why Dealing In Scrap Cars Can Earn You Real Money And A Bright Future

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Do you consider yourself as an aspiring entrepreneur?

Do you wish to invest your sweat and money in a world-changing business idea?

Then scrap cars can be your deal!

Scrap cars are not necessarily 100% damaged cars. Period!

Scrap cars are damaged cars which the owners do not wish to own it anymore. Hence, scraps. There are over 1 Billion vehicles around the world, but only a few scrap car businesses because it is capital intensive and moreover, no one really understands what to do with scraps to make some real money.

What you can offer that no one else can?

This is a question that you need to ask before you even think of entering the scrap car removal business. Please do not think of giving sellers the option of car removal for cash or preferably more cash than your competitors because that model has long been tried and has only resulted in failed or heavily loaned businesses.

You need to find that one thing which can help you recycle and resell the purchased cars efficiently.

Selling the car part by part?

Remodelling it completely to sell it off?

Modifying it for the Collectors?

Keeping it long term to sell to the vintage fanatics?

Or

Doing something environment friendly with the scraps to avoid tons of metal being dumped?

These are not the only solutions, but a hundred more can be formulated with the right mind and team members. The possibility is endless because the number of cars do not seem to reduce, rather increase exponentially in the near future; proving that the industry is growing and investing in the initial stage can result in some sweet results in the future.

Steps towards Success

In order to run a profitable car scrap removal business in the long run, you need to focus more on the services that you can offer and charge your customers on them, such as:

● Allowing your customers to call you for a pickup and drop of their car from anywhere they want.

● Selling (auctioning) individual parts of the car to Collectors.

● Safekeeping the car and remodelling it can help you charge some extra bucks for the storage as well.

The fact that you do not have to keep your products in perfect condition makes the whole proposition a little more interesting because you cannot damage a scrap car anymore than it usually is (mostly).

You need to have a digital presence for your potential customers to reach you at the click of a button, plus the digital aspect will act as a platform on which you can display different kinds of products that you might be selling. The scrap car business requires you to build a network in different areas of the world because it usually is first-come-first-serve and the collectors do not wait when they see a genuine piece.

Start Now to Make Profits in Future

This kind of business can also be profitable in smaller regions because where there are people, there is a large number of cars. Scrap car removal in Newcastle, Scrap metal in York or scrap car body parts in Manchester etcetera is not just common, but also growing rapidly.

These kinds of businesses require immense hard work and capital in its initial stage, which makes it difficult for every entrepreneur to invest in it. But if you can make real money from scraps, then you can be the best entrepreneur in the world.

The road to success isn’t smooth and a few bumps will only make you shine brighter- Dhoundhu

Is it the end of pay day loans in Australia

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Payday loans, which is a popular concept in the USA now has a flourishing and growing industry in Australia. It has grown in popularity in recent times in the US due to the failing economy and jobs situation in United States. In Australia recent job losses with the downturn in mining industry, random corporate job cuts and poor financial management has led to a growth in pay day loan companies.

There has been a spurt in growth of online payday loan companies that lend based on people filling in forms online and getting a loan with ease. These companies have got millions of dollars in loan books and are now coming under scrutiny for unfair lending practices by the regulatory body(ASIC).

The loan market for small loans or micro loans (payday loans) has gained notoriety not only in the Australia market, which is more recent, but has come into regulators scrutiny in many other countries like India and US and New zealand.

This market caters to people who are in desperate need of money and who most of the times are already in financial strife. Lending to such a group becomes a tricky situation where lending companies needs to grow their loan books, yet can’t really take undue advantage of the person’s poor financial position. Lending to them can put them at more risk and put them customers in more strife.

The question of balancing  responsible lending  and growing your business at the same time is a very fine line in this niche and local micro lending companies  like  cash converters and nimble  have been taken up by ASIC for not being upto scratch on their lending practices.

Recently, following an ASIC investigation, payday lender Cash Converters (online website at www.cashconverters.com.au ) will refund $10.8 million to consumers who received small amount loans under approximately 118,000 small amount credit contracts. Cash Converters has paid a $1.35 million penalty following the issuing of infringement notices by ASIC.

ASIC had concerns that Cash Converters did not take reasonable steps to verify consumers’ expenses in accordance with its responsible lending obligations and subsequently entered into them in breach of the credit legislation.

Many customers of Cash Converters Loans may be eligible for a refund

· Refund eligible consumers $10.8 million in fees through a consumer remediation program overseen by an independent expert who will report to ASIC; and

Consumers who had two or more small amount loans in the 90 days before taking out another small amount loan through Cash Converters’ website during the period 1 July 2013 to 1 June 2016 should expect to be contacted in due course with information about their refund.

If you think you may have entered into a loan contract with Cash Converters (either in-store or online) that was unsuitable, you are encouraged to lodge a complaint with the Credit and Investments Ombudsman. If you need help lodging a complaint with the CIO, you can talk to a free and independent financial counsellor by ringing 1800 007 007 during business hours.

ASIC’s MoneySmart website has useful guidance on how payday loans work and alternative credit options.

How to Stay Competitive in the Forex Market

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The forex markets have changed a lot in the past few decades, becoming ever more competitive for individual traders and brokerages alike. In order to be successful when exchanging currencies these days it is important that traders maintain a competitive edge. There are many ways in which this can be done for both traders and brokers.

Who is the Competition?

Firstly, it is important that you know who the competition is. For forex brokers this is simple, it will just be all the other forex brokers on the market. Working out their strengths and weaknesses can help you to fine tune your own forex brokerage, by building on their successes and finding solutions to their weaknesses.

For individual traders, working out the competition can be a little trickier, but it does exist. High priced brokers charging a high spread are the obvious ones, wanting to ensure that you plough as much money into their firm through losses. The other competition can be yourself. Blaming yourself for failed trades, letting emotions get involved and risking large losses are all down to yourself.

Build a Successful Trading Plan

As a trader you should have a quality trading plan already to hand, and it should be developed to be as competitive as possible. Still, it is important to factor risk into this strategy, as if things do go wrong then you will need to maintain enough capital to continue trading forex in a competitive manner.

Seeking out expert financial advice can help in this respect. Forex brokers need a successful business plan themselves, to ensure that they aren’t losing out when helping traders. Put this together with your aims in mind and building on the strengths of competitors.

Use Efficient Trading Platforms

Competent forex trading platforms allow for competitive trading, as currency can be exchanged quickly and accurately. They also provide the most up to date information, news and analysis to keep traders well informed. If you’re a trader, then investing in a flexible forex platform is essential to stay competitive.

For forex brokers, developing and offering such platforms is a necessity to stay ahead of the competition. Mobile and tablet trading apps are now offered by almost every brokerage firm, so to keep up with the competition your company must have developed these as well. To stay ahead of the competition, it will need to be using the latest technology in its products.

Forex Broker Offerings

As well as staying up to date with the latest forex trading technology, brokers need to be offering attractive rates to traders that still fit in with their business model. This will help them draw in more traders.

The days of charging large brokerage fees are going, as more and more traders exchange currencies independently thanks to the advancements in technology. This is making it harder for brokers to survive and remain competitive, so they are having to look at new and innovative approaches. Whether you’re a trader or work for a brokerage firm, staying competitive in the forex game is essential.

The Best Way to Keep Your Cash Transits Secure

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You may not think all that much of carrying cash around but when you do hold bills, you are always at risk. Flash a wad of cash in a public sphere and you might as well place a target squarely on your back. The need for cash security is even further heightened when you are dealing with a cash deposit for a restaurant, business, or other entity which calls for large sums of paper money.  Here are some of the benefits of the very best cash courier services.

Transit: A good courier service will be able to come to you, pick up your money, and deliver it anywhere. If you are told by your courier service that you need to jump through all manner of hoops and meet them at their specified location, you are better off just taking your money where it needs to go yourself! A good cash courier service will set your mind at ease by picking your money up and taking your money where it needs to go!

Flexible: Another good indicator if your service is one that’s worth its weight in salt is if they are flexible with you and your needs. Yes, of course, you could go working with a courier service who will only meet you between 8 and 5 but if you’re a restaurant, part of your fears are that you don’t want to leave cash in the registers overnight. If you have a fully flexible cash courier service, they will be able to come and meet you at midnight, three in the morning or anytime you want!

Secure: One of the big myths about courier services is that they don’t need to be armed or trained in any type of self-defense. This is not the case for the truly outstanding cash courier services; they know how to hold their own and they are not afraid to use force when necessary. Of course, the other part of this security is that the courier is insured; if you are dealing with a service, which is not insured, you are really tossing the dice.

Banks: Finally you want your courier service to be able to deliver the cash where you need it to go. If you have a courier service that will only work with a couple of different banks or if they have exclusions over working with one bank or another, you can bet there is a reason for that. If they were really a fully professional courier service they would be able to deliver your cash where you need it to go, when you need to get it there, and they wouldn’t put undue restrictions on any bank, especially yours!

If you have ever run into an instance where you have lost even a small amount of money to a robber, you know the experience is not one you would ever want to repeat. Imagine, if you lost the days deposit for your job and your employer was out a day’s worth of money? Who do you think is going to be responsible for repaying that money? Of course, you may not be on the hook for the money stolen, but you would always carry that burden around with you wherever you went with your business. Don’t take chances; find absolute, armed, insured, and guaranteed security for your cash transit needs all over Australia with Secure Cash. As an ASIAL Bronze member, you know that you are getting the absolute best from Secure Cash! Let their guards transport your cash and let your mind rest at ease!

Business Debt Consolidation Loan: Overview and Benefits

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When you run a business, you definitely need to look at the revenue figures. You should reduce the expenditure for increasing the profit margin. Business debt consolidation loans can be helpful for some of the merchants. But a proper debt consolidation review must be done before choosing the particular plan. Now, let us discuss how the business debt consolidation loans can be helpful for a business.

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Organized Loans: The business debt consolidation loans are specially customized for the small business owners. Managing the accounts may seem to be a difficult task for the small business owners. Starting from purchasing at wholesale, maintaining the inventory and payroll checks etc; things become difficult if more than five or six credit accounts are running. This loan can therefore help in organizing all your business activities in a proper way.

Less Is More: The debt consolidation loan can prove that less is more. When you possess few things for managing, your business activities become more efficient. In this process, the business owners can concentrate more on the essential things which is required for the growth of the company.

Single Loan: The debt consolidation loan is the single loan that helps the businessman to pay several business debts. You are therefore, required to pay only a single payment per month. So, all of your accounts can be consolidated into a single one.

Stress Reliever: These loans can act as good stress relievers in times of your financial crisis. When the due dates are coming near to you and you are receiving heaps of statement letters, you will not be able to focus on your business goals. Instead you will be stressed out for the repayment solution. Now, the business debt consolidation can be very helpful in such cases.

Stop Harassment Calls: You can easily stop the annoying calls from your creditors with the help of the debt consolidation loans. It can easily manage the repayment and thus those unwanted calls can be easily stopped.

Low Interest Rate: You should reduce the expenditure of your firm through the debt consolidation loans. They generally provide lower interest rates which can be very useful for the small business owners. You cannot really afford high interest rates such as 20% as it will eat up your profit as soon as possible. You should definitely go for the fixed interest rates of the single loan.

Improve Credit Score: The consolidation loans will definitely improve your credit score. When you possess various loans you may tend to pay late for some of them. This will definitely decrease your credit score. But with the help of the consolidation loan, if you only have one account, it is more likely that you will pay on time. This, in turn it helps to increase your credit score substantially.

Experienced Consultant: For taking up the loan, you should take advice from the experienced consultant. The qualified consultant will definitely suggest you the most appropriate business debt consolidation loan. The skilled professionals will restructure your loan terms by providing you some breathing space. This will help in getting your sales back on track and can help in the timely payment to the creditors and the suppliers.

Reputed Company: You should opt for your debt consolidation loans with a reputed company. You can take reference from your friends or colleagues who have experienced their service previously. Going for the companies offering low interest rates and longer repayment time can always be a wise decision.

The start-up business owners should not involve themselves in huge debts. They should keep cash at hand as much as possible. If you have saved your company using the debt consolidation loan, never put it back to the similar situation again!

Author Bio: Derek Patterson is a well known debt consolidator who suggests going through the debt consolidation review before deciding your business loans. In this article he provides an overview and benefits of obtaining a business debt consolidation loan.

Investing in mutual funds

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Mutual funds are an investment fund that pools the financial resources of a variety of investors and buys a diversified portfolio of stocks and bonds. At inception, the board of directors for the fund set the goals and strategies for the fund. Then, a fund manager is hired to ensure that their directives along with the fund manager’s expertise work in sync for the best returns possible for the fund. Investors have the ability to enter the fund for relatively low up-front investments and have the flexibility to add additional financial resources or sell shares as they desire.

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Mutual Funds: What Are They?

The fund manager allows for investors to relax and let a highly qualified expert do the buying and selling as needed for the fund without having to worry about individual stock and bond purchases and sales.

The mutual fund manager is responsible for the buying and selling of bonds and other securities and reports to the board of directors of the fund. Mutual funds area available both as an “Actively Managed” and “Passively Managed” fund. A passively managed fun is one where the fund manager sets the investment criteria with direction from the board and then buys and sells investments to match the strategy. A passively managed mutual fund is the most reasonable type of fund for an investor to own as the costs associated are less than those of an actively managed fund.

In an actively managed mutual fund, the fund manager is much more intricately involved in the research of companies, markets, industries, and the economy to more fully manage the fund on a day-by-day, and hour-by-hour basis. Actively managed funds have highly educated and experienced fund managers that focus their energies on analysis and keep up-to-date with industry and economic news. While the annual expenses of an actively managed fund may be significantly higher than a passively managed fund, often times, greater returns are seen.

Advantages of Investing In Mutual Funds

1. Experienced fund manager trades stocks and bonds as market, industry and economy requires.

2. Diversified portfolio as many mutual funds contain hundreds of different stocks and bonds.

3. Investors don’t have to invest in individual securities which can be cost prohibitive for some investors.

4. Low up-front minimum investment requirements for mutual funds can be as low as $500.

5. Shares can be sold for cash.

Investors can sell all or part of their shares in mutual funds at the Net Asset Value (NAV) rate. This is the actual mutual fund price that is set at the end of each trading day and is the buy/sell price until the following NAV rate is set.

There are tens of thousands of mutual funds for investors to choose from; in fact, there are actually more mutual funds in the United States than there are individual stocks or securities. Well-balanced mutual funds tend to own a balance of bonds and stocks, often times with stocks slightly outweighing the bonds. Analysts agree that mutual funds are one of the best ways to invest money with minimal risk while enjoying moderate and good returns. For a truly balanced portfolio, experts agree that investments in mutual funds provide the right balance of risk and reward.

About Us: When you are searching for information about retail investments and funding choices, you will find that there are a few choices that can really help to improve your portfolio performance. When you have questions about your investments, you might consider turning to Trustnet, Hong Kong’s premier site for information about fund investment.

Guest Post : Visit their website at www.trustnet.hk for more information.