Values, Singapore Investors ,australia investors,singapore stock market news,singapore stock market

Should you study the markets or watch football? Spend your spare cash or save it? Will you make your own decisions or trust a fund manager? Should you stay home and look after your kids or go to work and take them to day care? Will you do overtime at work or go home to your family? How you make your decisions and how you allocate your time and money depends on your values.

Have you ever been puzzled by others’ decisions? Have you ever said: “How can they do that? It does not make any sense.” They simply are using a different set of values. They may be putting people before profits, or the other way around. They may value money more than friendships or the other way around. They may value leisure more than study. They may be after short term pleasures and not care about long term plans.

Would you give up your life savings to help a family member? Then you value family more than money. Have you dealt with computer companies that make you pay for every support call? You are dealing with a corporation that has money high in their values.

Your decisions, especially when the pressure is on, when you are tight on resources, are filtered through your values. Different people have different values and each make their decisions based on their own values. Before you judge someone find more about their values. Before you align yourself with someone find more about their values.

What are your values? Where do they come from? Your values are derived from your needs. If you have had financial hardships, money would be fairly high in your values. You may be pursuing money every which way. On the other hand if you have experienced financial abundance all your life, then pursuing money may not be a big deal. Carrying this to the next level, if you’re trading requires a little bit of studying, charting, analysing you may find this too hard and give up very quickly.

Your decisions are filtered through your values. Different people have different values and make their decisions based on their own values. Before you judge someone, you better find more about their values. Before you align yourself with someone, you better find more about their values. It is equally important and useful to figure out your own values. Here is a list to choose from:

• Money
• Friendship
• Contribution
• Health
• Trading
• Family
• Career
• Leisure
• Spiritual
• Self improvement
• Health and fitness

Add to this list as you like and then put them in priority order. If you have limited time, if you have limited money or both, which one of these would you go for? Which one of these would you sacrifice? You will then know why your life is the way it is. Want to improve? Review your list of values.

Not everyone is cut out to be a day trader in the foreign-exchange markets. That’s because a true day trader enters and exits trades within a day’s time. A day trader VERY rarely holds a position for several days.

I meet many newbie currency traders who want to become day traders. But just like many people would love to race cars or model professionally, you need certain prerequisites to be a day trader.

Day traders are also strictly technical traders. They love charts. That’s because there’s really nothing fundamentally that moves currencies over 30 minutes to an hour or so periods. It takes time for fundamentals to affect currencies. And time is exactly what day traders DON’T have. So they’re all about the indicators, short-term timeframe charts like the five minute and 15 minute timeframes.

Day traders may trade fundamental news announcements but they’re only looking for the short-term pops that react to the news. They’re not looking for news items that will affect the long-term fundamentals of a currency.

You have to know that when you enter into the day trading arena. That takes incredible skill, and not everyone can learn to do it. In fact, most people can’t. However, if that’s your long-term ambitions, it doesn’t mean you can’t go for it. But I compare it to becoming a pro athlete, rock star or professional actor. People jump into those amazing careers everyday, even if it’s not a huge amount of the population.

If you want to hop into the arena with the day traders, please take my advice — only use capital that you can afford to lose.

Otherwise, follow the intermediate to long-term trends in the foreign-exchange market. Leave the day trading to the professionals…who don’t have another day job.