How to choose smart Stop Loss in Forex Trading

Here is step by step guide:

1. If price is close to recent high or low then place SL 5-10 pips above or below that point. This is very important. Prices do go back to test recent highs and lows and we need to set SL as per the recent price action. Trading on daily chart is bit tricky where such SL can be even 30-40 pips more on top of your static 100 pip SL.

2. Another point to take care is that don’t place SL on important boundary numbers such as 00 or 50 mark. These points are tested often and you can easily be stopped out.

3. Place your stop loss on odd numbers excluding 1 and 9. Never place SL on even numbers.


Believe It or Not!!!

Let me surprise some of you by saying that Brokers HUNT for your SL. That’s true. Forex is unlike Dow where everything is run by one organization and prices don’t vary from broker to broker (those broker makes money by giving you a worse fill than you would expect + commissions). Brokers in Forex can manipulate prices as they like and hence they go after your SL.

Now why brokers will want to you to loose?? Well every time you open a position, a broker opens an opposite position. So when you loose they win. They also want you trade more often, since they make money either in commission or spreads (or both). The only way they can force you to trade again is to stop you out.

Why you think brokers give out free market research and trading ideas?? If all of their traders are trading the same way then it is easier for them to take them out.

I am sure that some people would disagree (the ones working for broker J ) but it is something to think about.

So How To Beat The Brokers:

Simple, don’t place any Stop Loss. That’s right. It is not a typo. What you need is a Mental SL. You should know at price you will take your losses and set up alarms on your trading station when the price reach close to the mental SL you had in place. This can be challenging for some people but if you are lucky enough to get this working then there is nothing like it.

Hope this helps you in placing better SL from now on.


Learn Stock Trading Tips Here

Common Hearing Aid Myths

MYTH: Hearing aids will cure hearing loss or restore a hearing impaired individual’s hearing to normal.

TRUTH: No hearing aid will ever allow a hearing impaired individual to have normal hearing. A hearing aid just cannot provide what the ear and its intricate working of nerves can. What it can do is amplify sounds so that those wearing them can benefit from and enjoy a wide variety of listening situations. Hearing better helps one to respond appropriately thus improving communication skills.

MYTH: Hearing aids will resolve all of a hearing impaired individual’s communication difficulties.

TRUTH: This is impossible, although hearing aids go a long way in helping a hearing impaired individual with their communication skills. Hearing aid wearers often still have problems following conversations when background noise is present or in noisy public settings, thus inhibiting their ability to communicate effectively in those situations.

MYTH: Hearing aids will destroy residual hearing.

TRUTH: Since hearing aids are prescribed according to an individual wearer’s specific hearing loss, it would be a rare occurrence for a hearing aid to cause further damage to a person’s hearing. There are several things a hearing impaired individual can do to further reduce the possibility of damage caused by hearing aids. They must be well maintained, worn correctly and well fitted.

MYTH: Smaller hearing aids have better technology.

TRUTH: Both larger hearing aids and smaller ones are equipped with cutting edge technology. The two most common types of hearing aids are behind the ear (BTE) and completely in the canal (CIC) hearing aids. Whether or not an individual will be able to wear a hearing aid that is nearly invisible to a casual observer, depends on the type of hearing impairment they have. The hearing aid that is most appropriate for one person’s degree of impairment or listening needs, may not necessarily be best suited to another person.

MYTH: Hearing aids are not absolutely necessary for relatively minor hearing losses.

TRUTH: It is not advisable to put off obtaining hearing aids until hearing loss becomes a bigger problem. Over time the risk of permanent sound distortion increases. In this case, even when hearing aids amplify the volume of the spoken word it can still sound garbled.

MYTH: Hearing aids will not be effective for some types of hearing losses.

TRUTH: Generations ago people with certain types of hearing losses, such as high frequency, were told there was little or no help out there for them. With advances in hearing aid technology this is no longer true. Hearing aids are now effective for at least 95 % of hearing impaired individuals.

MYTH: Babies can’t be fitted with hearing aids.

TRUTH: Actually infants as young as a month old can be fitted with hearing aids. With the increase in hearing tests for at risk newborns, hearing impairments are being detected earlier then ever and the world of hearing aid research and technology is doing its best to keep pace.

MYTH: It doesn’t matter where hearing aids are purchased.

TRUTH: While buying hearing aids through mail order or off the internet may be less expensive, it is not necessarily advisable. By purchasing through these venues, a hearing aid consumer may be giving up the quality of care they will get by working with an audiologist. This includes things such as a qualified hearing evaluation, professional recommendations as to the most appropriate type of hearing aid, expert instruction regarding proper hearing aid usage, follow up care, etc.


Hearing Aid Styles

How To Clean Hearing Aids

Alcohol and Family

Throughout the centuries there have been countless stories of the destructive nature of alcohol. Virtually every historical document dealing with the ethics or morality of a nation warns against the abuse of alcohol. Even today, some nations and religious groups go so far as banning the use of alcohol altogether.

It is widely known what happens to the family unit that suffers with the disease of alcoholism. Whether the alcoholic is mother or father, son or daughter, they are a raging hurricane that mercilessly plows through, destroying the lives of everyone in their path. Luckily today, there are places an alcoholic can go to get the help they need and get their lives back on track.

There is some speculation as to who may be prone to becoming an alcoholic. One theory is the predisposition of particular genes in DNA passed down from the parent. It is assumed if the "potential" alcoholic is lacking particular genes, they have a greater chance of becoming alcoholic. In this sense, alcoholism could be classified as a hereditary disease, passing down from generation to generation. But no one knows for sure what makes a person an alcoholic.

The disease of alcoholism and the family is still a very secretive thing in our society today. Most of us have had friends, if not ourselves, who have had/ do have an alcoholic parent or family member. This secret isn't usually shouted from the rooftops but kept under lock and key and hidden away. No one is ever usually too proud to have an alcoholic in their family.

The alcoholic can be an enigma; one moment calm, loving, peaceful and then the next moment (with or without a few drinks) full of rage, hateful and warring. Like a flipping coin, you may never know how it's going to end up. Some like to call it the Dr. Jekyll, Mr. Hyde syndrome. This can cause fear and insecurity in a family that is already on edge and walking on eggshells.

When drinking, the alcoholic can be a loathsome creature who may be physically and/or emotionally abusive; the cause of social embarrassment, predatory, aggressive, the list goes on. They can also be the complete opposite, isolating themselves and being antisocial. They may be emotionally unavailable, extremely depressed and full of self-pity. Sadly these behaviors can continue on for months, years, and if they never seek help, for the rest of their lives.

The alcoholic is usually the center of attention for the family, needing attention and rarely contributing or giving back and always in trouble or in a crisis. Over time, this wears deeply on the family members and, in a sense, they become sick themselves. If the alcoholic is having a good day, the family is having a good day. If the alcoholic is having a bad day, the family is having a bad day. This is codependence which commonly develops among family members of an alcoholic.

Luckily there are support groups for family members who live, or have lived, with an alcoholic. There are numerous programs available like: Al Anon for family members of an alcoholic; Ala-teen for teenagers of alcoholics and ACoA for adult children of alcoholics. If you have lived with or do live with an alcoholic, there are others like you who now live happy and purposeful lives. You are not alone.

If you would like more information on alcohol and drug addiction, you can find it here: Alcohol Rehab.

Patrick McLemore is a recovering alcoholic and addict. Patrick has worked with the Manor House Recovery Center for the last two years providing guidance to numerous recovering alcoholics and addicts.

Living with an alcoholic is a very fragile existence, the relationship always undermined by a breach of trust or a potential breach of trust. Find out at http://www.livingwithanalcoholic.org on how to deal with it.

Credit Cards: What Do Psychologists Have to Say about It?

The number one rule when you are choosing a credit card deal is to consider your spending habits. You should always keep in mind where you like to shop, how much balance you usually carry on your plastic and whether you spend enough to qualify for those rewards and cash backs. So it is obvious, that your credit card choice depends on your spending habits. However, your spending habits are greatly influenced by credit cards.
Psychological studies have shown that consumer behavior of those using credit is different from those paying with cash. The following experiment was conducted at one of the American universities. Two groups of people were bidding on the same items. Members of one group could only bid with cash, the others were allowed to bid only with credit cards. The result of the experiment was quite interesting. Those who could bid with credit cards ended up making bets twice as high as those made by participants paying with cash.
That means that every dollar spent with a credit card equals 50 cents spent in cash. In other words, people shopping with credit cards spend twice as much as those shopping cash. Why does this happen?
Buying things is pleasant. Paying for them is not. Usually a consumer tries to find a balance so that the pleasure of having overweighs the pain of paying for it. When a credit card holder uses his or her plastic pleasant consumption transaction is disconnected from the unpleasant payment transaction.
Of course, you still have to pay for what you have bought. According to scientific data people dislike paying credit card bills even more than paying parking tickets. But still, people enjoy buying something with a credit card more.
Studies have shown that even a credit card logo on a catalogue or a debit card excites people. This is another wonderful way to increase sales and many merchants know that.
So are credit cards enticing you to overspend? Pretty much so. So are credit card-issuers to blame for the increased credit card debt? Well, that would not be quite fare to say so.
Even though a consumer seems to spend more with a credit card but most people are able to stop when they know they are about to exceed the limit. And we are not talking about credit card limit, but the limit they have set for themselves, something like ‘I won’t pay for a pair of shoes more than 100 bucks’. Credit cards might make you spend more but they do not force you to overspend.
Rather, high interest rates and fees and those unpleasant credit card bills make consumers stop. People do not like giving money, especially to banks. From this standpoint overspending is more likely to happen when shopping with cash than with a credit card.
Credit card deals can be very beneficial for consumers if used wisely. Of course, they sometimes make you to spend more, especially if you want to get a cash back or earn bonus miles. But the decision is always yours. You are the only one who can answer the crucial question – to spend, or not to spend…


credit card virtual terminal and merchant credit card machines