Forex Foreign Exchange

The typical scenario is that you get your paycheck. After you recover through the shock at how little is left after taxes, you proceed to divvy it up among all your outstanding bills, intending to put whatever is left over into your savings.

But there never seems to be anything left more than and your savings don’t grow.

A better plan would be to pay yourself initial. Don’t let the cash get into your hands.

You might find which you actually start to grow your savings much quicker this way.

Should you work for an employer with a 401K plan, the first point you ought to do is to fund it to the max. Should you can’t afford that, at least put sufficient in to get the complete matching contribution form your employer.

This expense is made just before taxes. Your expense is larger and with the employers contribution grows quickly.

Next have a brokerage or mutual fund company debit your banking account monthly. This funds must very first go into an IRA – if you have five years or a lot more to go to retirement, make it a Roth IRA.

Next have a few dollars more be debited to go into a no-load, low cost mutual fund. The younger you are, the much more aggressive your choice of fund may be.

After that’s done, then figure out how to pay your bills and living expenses. If money is tight, cut back on your living expenses and use the extra funds to pay down your debt.

Start with the lowest balance very first. As soon as that debt is paid, take the amount of money you were paying on that debt and add it to the payment about the next lowest balance debt. Continue doing this and you can be totally debt free within 5 to 7 years.

Another version of this method is paying the highest interest rate debt very first. The principal could be the same, you just see much more progress with the very first method, although it could be more costly based on how your debt is distributed.

(In case you don’t believe me, get the premier version of Microsoft Money or Quicken and use the “Debt Reduction” module. You may be shocked at how much money you may save and how quick you are able to eliminate debt this way.)

The idea is to scrimp at the expense of your current lifestyle, while leaving your savings to grow and you debt to shrink.

I know numerous of the people reading this will scream that this really is an impossible plan.

But it’s quite doable with a little will power and the ability to delay gratification for any while.

The problem is that in case you don’t do this, your future might turn out to be very bleak.

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Get this 1 Minute Forex Trading System FREE that make money instantly anytime you want. Learn this powerful Fibonacci Retracement method FREE that pulls 500+ pips per trade. Discover Don Steinitz’s Forex Fractal Breakout Custom Indicator that can make you a lot of pips. Don Steinitz: Fibonacci Who? We will be using Fibonacci ratios a lot in our trading so you better learn it and love it like your mother. Fibonacci is a huge subject and there are many different studies of Fibonacci with weird names but we’re going to stick to two: retracements and extensions.

Let me first start by introducing you to the Fib man himself…Leonard Fibonacci. Leonard Fibonacci was a famous Italian mathematician, also called a super duper uber geek, who had an “aha!” moment and discovered a simple series of numbers that created ratios describing the natural proportions of things in the universe. The ratios arise from the following number series: 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144 ……

This series of numbers is derived by starting with 1 followed by 2 and then adding 1 + 2 to get 3, the third number. Then, adding 2 + 3 to get 5, the fourth number, and so on. After the first few numbers in the sequence, if you measure the ratio of any number to that of the next higher number you get .618. For example, 34 divided by 55 equals 0.618. If you measure the ratio between alternate numbers you get .382. For example, 34 divided by 89 = 0.382 and that’s as far as into the explanation as we’ll go.

These ratios are called the “golden mean.” Okay that’s enough mumbo jumbo. Even I’m about to fall asleep with all these numbers. I’ll just cut to the chase; these are the ratios you have to know:

Fibonacci Retracement Levels
0.236, 0.382, 0.500, 0.618, 0.764

Fibonacci Extension Levels
0, 0.382, 0.618, 1.000, 1.382, 1.618

You won’t really need to know how to calculate all of this. Your Steinitz Fractal Custom Indicator will do all the work for you. But it’s always good to be familiar with the basic theory behind the indicator so you’ll have knowledge to impress your date

I’m announcing a very exciting upcoming live webinar on how to successfully use “Bollinger” bands as a standalone method for making a lot of money with extreme accuracy. After one year of research I found a method of combining another indicator (which I will explain in depth in the webinar) along with “Bollinger” bands to get you in a trade at the perfect moment and the exit for maximum profit with very low risk.

The Bollinger Bounce
One thing you should know about Bollinger Bands is that price tends to return to the middle of the bands. That is the whole idea behind the Bollinger bounce (smart, huh?). If this is the case, then by looking at the chart below, can you tell us where the price might go next?

If you said down, then you are correct! As you can see, the price settled back down towards the middle area of the bands. That’s all there is to it. What you just saw was a classic Bollinger bounce. The reason these bounces occur is because Bollinger Bands act like mini support and resistance levels. The longer the time frame you are in, the stronger these bands are. Many traders have developed systems that thrive on these bounces, and this strategy is best used when the market is ranging and there is no clear trend.

Both of these indicators are already in your Metatrader 4 platform and I will explain precisely how to set up your charts with everything you need to trade very successfully!