Sunday, September 23, 2007

Loosing Money In Forex With Your System? Don't Let It Happen To You!

Trading the forex market is almost impossible for most people, but why is this? It is a well know fact that 95% of traders fail. I know I could increase your chances of success dramatically by changing two simple things in your trading. Would you like to know what they are? Then read on.

1. Risk Reward Almost all traders want profits, in fact they want it so bad they are willing to risk far more than they gain to get it. Do you do this? It is a very serious problem that will drastically reduce your chances of success in the long run.

Lets look at some examples.

If we risk 60 pips to get 20 pips then we must have 75% winning trades just to break even!

If we risk 60 pips to get 60 pips then we must have 50% winning trades just to break even!

If we risk 30 pips to get 60 pips then we must have 33% winning trades just to break even!

If we risk 20 pips to get 60 pips then we must have 25% winning trades just to break even!

Do you see how you are setting the odds against you? You should always try to shoot for at least twice what you risk on each trade if not three times. This puts your chances of success far higher in the long run.

2. Trade With The Trend

I'm sure you have herd this many times before abut how many of you actually do this? Trading with the trend will not only set the odds of the trade being a success in your favor it will also get you out of trouble if you get into the trade at the wrong time.

Try to keep an eye on the trend of the larger time frame while you trade only take trades in that direction on the lower time frames.

Conclusion Using these two simple tips you have already placed yourself far ahead of the 95% that fail in this business. Remember to always keep in mind the longer term goals and avoid thinking about the day to day results.

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Payroll Check Fraud Incident

Payroll check fraud came calling four days before Christmas. A branch of our main bank called and wanted to verify a check. The young lady who took the call in our office quickly realized that the check was out of sequence and for a person not on the client's payroll. The check was cut on our trust account. I spoke to the bank employee who had called us. They were stalling the person by having then fill out an account application, more about that later. I took the location of the bank and called the local police department. Of course I didn't have the right exact city and had to make an additional call. The police finally were dispatched to the grocery store where the branch bank was. The woman trying to cash the check was gone. But the police were fairly sure that they would apprehend her soon. Next day she tried to pass a check on someone else at a different bank. The police were called and she was arrested and turned over on a filed warrant to the police I had called. They had issued a warrant the same day she cashed a check on us and had given the bank as part of the paperwork a copy of her real drivers license. No one ever claimed crooks were smart.

She had cashed eight checks on our account for about eight thousand dollars total. Checks under a thousand dollars are easier to cash.

We have a very sophisticated check with all kinds of safeguards against fraud. Special paper, void pantographs, MICR lock, warning legends, artificial watermarks, colored paper and more. So what happened. The scammer and her cohorts simply copied the information including the MICR information on to new check stock. They actually didn't need a real check; they could have used a copy. They however changed the identifying information for the particular employee the original check was issued to. We currently have not been able to identify that person but we probably will in the end. The scam artist would not have changed the information if they were not interested in protecting the person whose check it was originally. There was no way to make the information on the check not available to the scammer. The employee, the employee's bank and our bank need all that information. So what do we do in the future to prevent this? Positive Pay.

Positive Pay is where we now report every issued check to the bank. They keep a list of the check number, date issued, amount and Payee. Also whether that check has ever been presented before. Any check being cashed at a branch is verified against that list before being allowed to clear. Every check being presented to the bank is verified against that list before being accepted for clearing. This should stop checks like this from being cleared in the future. It will not stop scammers from creating them. There is easy availability of check stock and MICR ink and printers. This may seem like a slam duck to scammers but we are not worrying as much now with Positive Pay in place.

How do you stop this completely? 100% Paperless Payroll! If you are not issuing checks there is nothing for a scammer to create or cash. I have not seen where a scammer has been able to get into the Federal Reserve and NACHA to be able to create fraudulent ACH deposits to their accounts. Even then they would be a lot easier to trace and track down. The scammer would have to be bank customer and have been verified by the bank when they set up an account. For employees without bank accounts Payroll Debit Cards work just fine.

We of course have every intention of assisting the local DA in the prosecution of this person and her cohorts in crime.

Charles J. Read, CPA has been in the payroll, accounting and tax business for 30 years, the last fifteen in private practice. Mr. Read is the author of How to Start a New Business.

For Professional Payroll services at a Budget Price go to a Paperless Payroll Company.

Go to For a full service payroll service bureau with CPA's on staff.

See an excerpt of Mr. Reads interviews from William Shatners Heartbeat of America television show on the websites linked above.

Forex Trading - Forex - Foreign Currency Trading and Exchange with Confidence

Forex Trading System with a few hundred dollars allows you to make incredible returns and spend less than 8 hours per month in the market! One 8 hour day at your current job versus forex trading for 8 hours spread over one month and you could be on your way to a new life, financially speaking. What would you do with more money than you could ever make now at your present job?

Forex trading allows you to consistently predict which direction the market is heading on days when financial news is announced. Learn how banks and financial institutions always know and always profit from the currency market. Most individual traders play a dangerous guessing game often on the wrong side of making a profit!

The Institutional Forex System is designed to make money no matter what direction price moves. This is as close to a guarantee as you can get in the financial markets and it completely eliminates the greed and human emotion of trading. This is how large corporations, banks and financial institutions trade the forex.

Forex Trading with the right tools can show you that only 3 days a month, an individual currency trader can expect a 10 to 30 percent profit margin, every single month. Can you think of anywhere else on the planet, where you can expect and receive that type of profit regardless of how much or how little you invest? Institutional Forex is not found anywhere for free, so don't go do a research or review check on it. This is not guess work or high sales pitch stuff, this is the tools that thousands of successful currency traders use to always come out ahead. How many banks do you know that lose money?

With Forex Trading you have the ability to trade 24/7, the market is always open. We're talking about a market of global scale and business activity that never ceases. It's the Las Vegas on a world scale. The players are always ready to trade and make money, if you have what it takes and the right tools to assure yourself of the profits institutional forex provides. You will not find a more exciting and faster moving market than the FOREX market. The Forex market has become the world's largest financial market with over 1.5 trillion USD traded daily. Forex is part of the bank-to-bank currency market known as the 24 hour Interbank Market.

Until recently the forex trading was limited to those who could afford to place large amounts of money down, like the world banks, and trade currencies on the world market. Now it's available to the little guy to get the same returns on their money as well. Don't think for a minute that you can't improve your net worth with your smaller investment capabilities, you can.

Learn more about forex trading systems:

Jim is an online writer that has a level of follower readers eager to see what is current and profitable to their individual stakes in online and offline business ventures. Today he is discussing forex trading, a highly profitable market for those in the know.

Investment Property Advice - Has the Market Peaked and Should I Sell Now or Wait?

Should I sell my investment property and cash out today - Has the Mississauga or Toronto market peaked? I get asked this question often. There is no simple answer.

I know how you feel that it's tempting to cash out, prices are so high. This is a difficult question to answer precisely as really, nobody can predict what will happen in the future. Many are now thinking that the market may have peaked in the GTA, but only time will tell.

There have been a few articles written in the press lately about the over-abundance of condos currently on the market and more coming on stream in the next 2 to 3 years. This could potentially create a supply problem and prices could soften in the condo market. Regardless, if you have equity in your investment property, then I would understand that you may wish to take out the equity and move it to other investments that may give you a higher return over the next 5 years or so.

Over the past 3 to 5 years or so the rental market in Mississauga has been very soft and I have noticed the quality of tenants has dropped significantly. This is due to our extremely low interest rates and many people that would have otherwise rented, purchased instead. The vacancy rate in the GTA is very high and this has impacted investment properties.

I help clients with many of their rentals per year and I am finding it much more difficult to find good quality tenants over the past few years.

Even if we have a correction in our market, I don't think it will be too significant. We are not in a boom similar to the investor fuelled boom of the mid to late 80's so I think (and hope) that we will not ever see the bottom fall out of the market the way we did in '89 to '95.

So there you have it. I am sorry I cannot predict the market more accurately for you. When push comes to shove, you will have to make the final decision.

Past history indicated that we may be near the end of a 10 year increase and this may be the time to unload your investment property.

You must be the final judge of whether or not it is time to sell your investment property, but certainly a healthy profit today is better than a possible loss of profits in the near future.

Mark Argentino is a Professional Real Estate Agent and has his Professional Engineering degree. Mark works and resides in Mississauga Ontario. He specializes in helping people sell and buy homes in the Mississauga area. His website is the most authoritative source of real estate information when you are buying or selling a home in Mississauga. You may read more articles, tips, reports, newsletters and in-depth real estate information, visit