5 Key Points to Lead You to Currency Trading Success

If you want to win at forex trading, then you can it's a learned skill. That's the good news however 95% of traders lose and you must understand the following key points and make them part of your essential forex education. If you do, you will win...

Here are your key points, in no particular order of importance - there all important.

1. Forex Trading is NOT Easy!

Most traders just think they can buy $100 buck robot or get a mentor and someone will lead them to success. This is naïve and you know, if you want success at anything you need to work at the basics and do your homework.

Don't believe the sire fire systems or forex robots which never have a real track record, just a back tested simulation and keep in mind trading forward is what counts and that's hard.

Sure it's hard but that's why forex trading offers such huge rewards in terms of the effort you put in.

2. You are Responsible

If you accept you are responsible for your destiny, you will put in the effort to get the right forex education. You will learn a simple forex trading strategy which is robust, you understand and can have confidence in. If you have confidence then you will be able to acquire the next key trait.

3. Discipline is the Key

When you trade forex you are going to lose, the market is going to make you look a fool but that's life in forex and doesn't mean you can't win - you can.

What you must do is, have the discipline to apply you forex trading strategy through periods of losses, until you hit a home run. To win you must learn to lose gracefully in the short term and keep your eyes on the long term prize.

Many traders believe they can trade with little or no drawdown. They listen to the so called experts but the truth is - you will have to face weeks of losses at a time and discipline is needed in these periods, for you to emerge a winner.

4. You Need to Trade in Isolation

In society we are taught to agree with the crowd but in forex trading this leads to disaster, as 95% of traders lose money. You have to stay away from the herd and even when your emotions are telling you to conform, you need to stand aside. Get sucked into the herd mentality and you will end up with the 95% of losers.

5. Patience

Not only do you need patience to wait for the right opportunities, you also need patience to take your losses and more importantly, to run your profits.

Many traders get so excited when they have a profit, they move to soon to protect it or bank it; whereas if they hung on they could have made huge gains.

Becoming a Winner

If you want to become a winner in forex, you need all the above attributes and if you do achieve them, you will be on the way to currency trading success. They can lead you to a great second income or even a life changing one, in around 30 minutes a day.

Children and Music Education

Well let me tell you the good news....

Music lessons in childhood and particularly before the age of 7 can have a lasting effect on a child's development.

Here are some facts and figures:
1. Students in high-quality school music programs score higher on standardized tests compared to students in schools with deficient music education programs, regardless of the socioeconomic level of the school or school district.

2. Students in top-quality music programs scored 22% better in English and 20% better in math than students in deficient music programs.

3. Students in top-quality instrumental programs scored 19% higher in English than students in schools without a music program.

4. Students in top quality instrumental programs scored 17% higher in Math than children in schools without a music program.

5. Students at schools with excellent music programs had higher English and Math test scores across the country than students in schools with low-quality music programs.

6. Students in all regions with lower-quality instrumental programs scored higher in English and Math than students who had no music at all.

MENC (Music Educators National Conference) Journal of Research in Music Education, Winter 2006, vol. 54, No. 4, pgs. 293- 307; "Examination of Relationship between Participation in School Music Programs of Differing Quality and Standardized Test Results" Christopher M. Johnson and Jenny E. Memmott, University of Kansas

Students of the arts continue to outperform their non-arts peers on the SAT (Scholastic Aptitude Test) according to reports by the College Entrance Examination Board.

In 2006, SAT takers with coursework/experience in music performance scored 57 points higher on the verbal portion of the test and 43 points higher on the math portion than students with no coursework or experience in the arts.

Scores for those with coursework in music appreciation were 62 points higher on the verbal and 41 points higher on the math portion.

Can Your Kids Benefit From a Financial Education Video For Teens?

Everyone has seen on recent newscasts, the stories about homeowners in foreclosure who didn't take the time to read and comprehend completely, their loan contracts. Is it that simple? Why didn't they just sit down at a table for an hour and study it in full? The truth of the matter, is that even if they had tried, the majority of them wouldn't even be able comprehend them in full.

Its Only Going to Get Worse in the Future

Just try to read the three page fine print average credit card contract! Not only are the actual basic functions of today's financial contracts far more intricate and confusing but they are also loaded with new terms and phrases that make them impossible for the average person to comprehend. The bad news is that it is only going to get worse in the future, as new government regulations on financial and lending institutions are imposed.

Packed With Easy to Understand Information

Fortunately for today's parents there are financial education videos for teens that can be procured online. Will your teen watch and study one until he or she understands its content completely? Probably not, but these videos are so loaded with relevant material that they will come away with something lodged in their head that will find a use in their future.

Will Your Teen Be Ready for the Next Recession?

Even if all that they come away with, is a basic understanding of the roller coaster economic cycles that the U.S. economy has been going through since its beginnings, that will be a big step. It will mean that just maybe they will be prepared and ready for the next recession that will undoubtedly hit in another twelve years or so.

Prepare Your Teen Now

By then they will most likely have a home and family of their own and will be even less likely to take your advice. This means that now is the time to do what you can to prepare the hard-head for the future that is waiting for them with a financial education video for teens.

Stock Market Education

It would be almost impossible to make a comprehensive list of all of the ways television and movies have mislead us or oversimplified things when it comes to performing complex tasks over the years, but if such a list existed, investing would likely be at or near the top. In Hollywood, every stock transaction is done on a whim thanks to a red hot stock tip gotten from someone on the inside or someone's crazy uncle who can see into the future. In reality, hot stock tips to exist, but even the hottest ones are researched meticulously so that those involved don't lose their shirts. Researching stocks is a bit of an art form, however, the Internet has made doing most of the heavy lifting easy. Here are a few tips for the amateur stock researcher to follow.
If you are a smart investor than you have a full service stock broker on speed dial that you can speak with at any time. Before you make the final decision to buy a stock, it is always a good idea to tap into the huge knowledge base that your broker has at his or her disposal and see if this stock is all its cracked up to be. This is one of the major reasons why having a full service broker is better than using one of the online stock trading websites. With a full service broker, they can give you more information that the vital statistics associated with a particular stock. They will likely know about any sort of breaking news associated with that company and what the daily activity has been on that stock (are people buying or are people selling.) Most importantly, they can also give you information that only they are privy to that might or might not have been made public yet. The best research tool any investor can have is a good stock broker.
If you have made the decision to invest online on your own, there is still quite a bit of information available on the Internet. Many online stock trading websites not only deliver a huge amount of raw data to their users about how a stock has performed over the short and long term, but also how to read that data. They have dozens of graphs, charts and read outs that try to put the raw data into context. What these sites can't do, really, is interpret the data and tell you how all of that is likely going to affect the stock's future performance. Of course, this is speculation and not statistical analysis, but knowing how a stock has performed in the past doesn't really help you if your fortunes are going to be determined by what the stock does in the future. Research can only help give you some context on where the stock has been.
Finally, having a subscription to a daily newspaper like the Wall Street Journal, or at least an online subscription to their webpage, is an essential way you can do research, just bear in mind that there are millions of other people reading the same information and likely acting on the same trends you are. It isn't really possible to get a "hot stock tip" from the financial newspaper of record, but it can help you spot trends and news that can affect how the market is going to perform in the future.
Stock research is a vital part of any healthy investment strategy. However, having a plugged in stock broker on your side is the best research assistant possible.

The US Economy - Only the Good News

The "dismal science" of economics typically focuses on "bad" news. But there are many favorable developments taking place within the U.S. economy. We do face major challenges...no question. Recessionary pressures are intense...no argument here. Presented here, however, is ONLY the "good" news.

* U.S. exports to the world of goods and services are at record levels.

* A year-end 2007 Gallup Poll noted that "more than 8 in 10 Americans say they are satisfied with their personal lives at this time, including a solid majority who say they are 'very satisfied.'"

* During the early 1960s, the five-year survival rate from cancer for Americans was one in three. Today it is two in three...continuing to climb...and the highest in the world.

* For every dollar of U.S. economic output generated today, we burn less than half as much oil as 30 years ago.

* Today's moms and dads, whether working or at home, are spending four to six hours more per week with their kids than did the previous generation.

* Alcohol-related traffic fatalities in the most recently reported year dropped by more than half versus 20 years ago.

* The nation's jobless rate averaged 4.6% in both 2006 and 2007, the lowest average in six years, and lower than average rates in the '70s, '80s, and '90s.

* The number of people who have quit smoking (46 million) now exceeds the number who still smoke (45 million).

* The American economy added nearly seven million net additional jobs during 2004 to 2006, and added more than 1.1 million in 2007.

* The sharp decline recently in the 10-Year U.S. Treasury Note yield from around 3.85% to 3.53% should lead mortgage rates lower.

* Substantiated cases of childhood sexual abuse have fallen 49% since 1990. Physical abuse of children is down by 43%.

* U.S. corporations hold an estimated $611 billion in cash on their balance sheets, a "tool" to help lessen the chance of, or minimize the impact of, a recession.

* More than three million girls participated in high school sports last year, part of a record 7.3 million total participants.

* The Federal Reserve is expected to reduce its key short-term interest rate for a sixth time no later than March 18, with another cut possible in April. Debt costs for millions of Americans will decline as a result.

* Donations to charity set an all-time high in 2006, with a total of $295 billion donated by individuals, foundations, and corporations. As a percentage of GDP, Americans gave twice as much as the next most charitable nation...England.

* Some 68.6% of the 2.7 million "Class of '05" high school graduates enrolled in colleges & universities, the highest ever.

* Productivity of the average U.S. worker rose an average of 2.6% annually during the past 10 years, the largest gains in 40 years. Rising productivity is a long-term key to higher standards of living.

* The U.S. rate of home ownership reached 69.2% of households in recent quarters, the highest ever, before declining slightly.

* The upward "mobility" of the typical American remains the greatest in the world. Why? The U.S. economy "rewards" the combination of hard work and educational achievement more than ever before...and more than any other country in the world.

* Women earned nearly 60% of all bachelor's degrees awarded in recent years, versus 43% in 1970 and 24% in 1950. Women earned a similar share of master's degrees.

* Solid U.S. economic growth and incentive-based tax cuts have led government revenues to surge impressively during each of the past four years.

* Average U.S. life expectancy has reached 78 years (men 75...women 80), the highest ever. This compares to 76 years in 1995, 68 years in 1950, and 47 years in 1900.

* Global economic growth should exceed 4.0% in 2008 (after inflation) for the sixth consecutive year, a development not seen in generations. Strong growth allows millions to rise above poverty.

* Children's deaths from unintentional injury have dropped by almost 40% since 1987. Bicycle deaths fell 60%, while firearms-related deaths fell 72%.

* Air pollution declined 25% over the past 30 years even as the population and the economy grew. Water quality also continues to improve. More progress will occur in coming years as companies see rising value in "going green."

* Median (half more, half less) family income now exceeds $54,000 annually.

* Illicit drug use among U.S. teenagers hit a five-year low of 9.8% in 2006, down 16% since 2002.

* The U.S. still accounts for roughly 40% of global research and development (R&D) spending.

* The Congress now has 90 female members--the highest in history--with 16 in the Senate and 74 in the House.

* American household net worth in 2007's third quarter reached $58.6 trillion, the highest ever, and three times the total of 18 years ago. Net worth--the difference between assets and liabilities--has risen for 19 consecutive quarters. The measure included much of the recent weakness in housing values.

* A record 29% of men have earned a bachelor's degree or higher, versus 26% of women, also a record. This compares to a combined 7.7% in 1960. A record 84.6% of adults over age 25 now have at least a high school diploma, versus 24.5% in 1940.

* U.S. teen pregnancy and birth rates plummeted to all-time lows in recent years, before a slight rise in 2006. The reasons? More widespread use of birth control, more work opportunities, and more girls who "just say no."

* Flexible work schedules are now the norm for 43% of workers, up from 29% in 1992 and 13% in 1985. This allows greater flexibility for more people, especially those with children.

* The Consumer Price Index has risen an average of 2.7% annually since 1992.

* Roughly 30% of trash was recycled or composted in the latest year, versus 16% in 1990.

* In 1967, only one family in 25 earned $100,000 or more (inflation adjusted to 2005). Today, one in six families does. The share of families earning more than $75,000 annually in real dollars has tripled from 9% to 27%, while the share of families earning between $5,000 and $50,000 in real dollars has fallen by 19% since 1967.

* Seat belt usage by Americans was at 81% in 2006, versus 49% in 1990 and 14% in 1983.

* The rate of auto-related injury per mile traveled in 2005 was the lowest since the Interstate Freeway System was built 50 years ago.

* Corporate profits now represent more than 12% of national income, up from 7% in 2001, and the highest since record keeping began in 1947. Strong corporate earnings are the backbone of rising stock prices.

3 Aspects of Confident Trading

When you open up your trading charts each day, do you feel calm and confident or do you feel uncertain and nervous? Many traders often find themselves feeling the latter.
To be a successful trader, you'll need to constantly feel confident about the happenings in the market. Good traders are certain about whether it's a bull market, a bear market or a ranging market. They either understand what they're seeing in the trading charts today, or they don't. They're confident about their opinions, and aren't afraid to say that they're uncertain when they are.
Gaining Confidence
One of the best ways to start each trading day with confidence is to keep to a concise, carefully-considered 'plan of action' just before you begin bring up your trading charts. Here are 3 aspects you should consider to include in your 'plan of action'...
Aspect #1: Monitor the market with a check list
Have a list of news websites and analyst reports where you can find out the latest happenings all over the world. This is helpful in alerting you of world events that occurred while you were sleeping. The Forex market runs around the clock and doesn't go to sleep at all, except on weekends. You'll thus need to have a handy list of news sites to update you on the events that you've missed out on.
Aspect #2: Be an expertof few setups
Most new traders spend too much time trying to learn all the different trade setups in the hopes that they can have the most money-making opportunities. Unfortunately, they usually get mixed signals and mess up their trades. You should instead strive to master two or three types of trade setups and become an expert on them. Don't worry about the lack of trading opportunities; the market is large enough and you'll find usually be able to find good trade entries at least once every week.
Aspect #3: Money Management
It's almost impossible to over-stress the importance of this aspect. A reliable money management system will make it almost impossible for a trader to feel scared and uncertain. It's your safety net. Never trade without one.

Education of African American Children

Nothing saddened me more than the fact that three of my African American female students had no idea what the term "lynching" meant. These were otherwise, decently educated young black women seeking a career in the medical field.
During our exploration of medical ethics, we were watching a film about the "Tuskegee Syphilis Experiment" which took place in the 1930's. This experiment was responsible for the spreading of syphilis to thousands of African American people in Tuskegee, Alabama.
During the course of the film, the main character suggested that his brother had been killed by lynching. The students turned to me and asked what it meant. My heart fell to my knees at the thought that any African American child in the United States would not recognize what this term meant.
With a lack of understanding like this, it's no wonder that Tiger Woods was able to blow off the comment made by the news reporter some weeks ago.
You see, the problem is that our children are sitting in classrooms with people who either don't care that they learn or who have their hands tied by the system when it comes to how and what they teach.
In Texas, teachers spend a disproportionate amount of their time teaching to a standardized test. How on earth do you standardize one's education? Every person learns in a different way and at different speeds. Some learn by seeing, some learn by listening, and some learn by doing. There are also those people who have testing phobias that prohibit them from doing well on any test. Yet the powers that be have deemed it necessary to gauge a persons intelligence using these standardized tests. They have even gone so far as to connect the teachers ability to get a bonus with the success of the students on the standardized test.
Field trips to the museum, symphonies, and other cultural outlets are few and far between because teachers are in constant fear of losing their jobs if their students don't perform well. Therefore, many of them don't even bother addressing a holistic approach to learning which would include learning ones history, culture, and background.
It's no wonder that these three young ladies had no idea what lynching meant. The issue here is that if we forget our history, we will be doomed to repeat. When the atrocities that were inflicted upon African Americans is all but forgotten, a new reign of terror is bound to come about: Jena 6, nooses hanging at prominent fortune 500 companies, a man dragged to death in Jasper, Texas.
We must begin to teach our children about their history and make it relevant for them today. If the schools won't do it, we have to. We can no longer afford to relegate this most important task to people who could care less if we know what has happened to us in the past.
This Black History Month, let's make it our business to learn all we can and share it with everyone we know.

Cheryl Lacey-Donovan is an author, educator, and inspirational speaker. Cheryl is also the host of Worth More Than Rubies an internet radio talk show that airs on [http://www.redchurchradio.com]
She has been a mentor for Christian Women Today for one year and is the founder of A Virtuous Woman-31.
Cheryl has been happily married for 14 years to her husband Keith and she has two adult sons and a stepdaughter. She is a member of the Windsor Village United Methodist Church in Houston, Texas.