Business The River Of Life

Day: July 15, 2021

Michael

Top 5 mistakes of the novice Forex traders

Trading Business

Leaving Day Trades Alone vs. Managing Them Actively

Newcomers make huge mistakes for which they face trouble. But, if they can reduce the number of making mistakes, they may do well in the market. Many traders think, only professionals can get success in the market. But, it’s not true. Being a newcomer, if you try, you can also do well. But, you need to try your utmost. Sometimes, traders start to think, they won’t face any losing streak. But, in reality, you should understand, as the market is totally unpredictable, it’s not possible to avoid the loss for good. However, you should try your best to reduce the losing streak. But, newcomers make some major mistakes for which they face troubles.

In this post, we’ll discuss the mistakes of the traders. If you are a newbie, you should read the article properly. As a result, you may get the proper idea of why you lose your money.

Be rigid

Some traders are so rigid. They don’t want to change their plan. That’s why they face trouble. Being a trader, if you’re not flexible, it really impossible to get success. Because to make money, it’s important to change the plan. If you observe the pro traders, you’ll find, they always change their plans based on the situation. That’s why they can easily adapt to the situation of the market. But, most of the time, newbies can’t adapt to the situation and so they face problems.

Not using the stop-loss

Traders should use stop-loss so that they can limit the loss. Because, if they use the stop-loss, the position will automatically close after reaching the points. But, being a beginner, you’ve to use the stop-loss in the right place. However, some traders don’t use the stop-loss at all. For this reason, they can’t avoid the destructive loss. Bear in mind, to do well, you need to maintain the risk-reward ratio. Otherwise, it’s not possible to get success.

Taking the high risk

Many traders take the high risk without understanding the situation of the market. But, it’s true, to make money, you’ve to invest money. However, you need to consider your risk tolerance level before taking the risk. But, sometimes, traders don’t contemplate their risk tolerance level and so they face troubles. Bear in mind, being a newbie, if you take the high risk, you might face problems to tackle the situation. To know more about the risk management process, use the free resources of Saxofx broker UAE. Enhance your trading knowledge and it will help you to trade with low risk.

Miss the entry and exit signals

If the traders miss the entry and exit signals, they’ll ultimately face trouble. Being a trader, if you want to open and close the position profitably, you’ve to find out the appropriate entry and exit signals. So, keep your eyes on the market so that you can find the right entry and exit signals. However, sometimes, due to the confusion, traders miss the entry and exit signals. To find out …

Michael

5 Common Reasons for Small Civil Judgments

Business Service

We often hear about the multi-million-dollar judgments against companies who lose civil lawsuits. What we do not hear about are the much smaller judgments that courts enter every day. They may be worth only a few thousand dollars or less, yet they are every bit as important to the creditors involved.

For the purposes of this post, a small civil judgment is worth $50,000 or less. That includes attorney and other legal fees. Once you get above the $50,000 threshold, you are typically talking larger sums that include civil penalties and possible damages.

Judgment Collectors, a Salt Lake City firm that provides specialized judgment collection services in six states, says that small judgments make up the bulk of the cases in most states. They cite the following five reasons such judgments are entered:

1. Unpaid Rent

Civil courts are often the only remedy for landlords who cannot seem to get their tenants to pay the rent. Landlords can only wait so long, then they have no other choice but to begin eviction proceedings. In addition to eviction, landlords seek a judgment that allows them to collect back rent.

Given that most states allow judgment enforcement for 7 to 10 years, a landlord could be left trying to collect for quite a long time. That is where judgment collectors come in. They take on the responsibility of tracking down errant renters and getting them to pay.

2. Unpaid Car Loans

Used car dealers who self-finance turn to the courts when customers stop paying their loans. Because these are small-time operations, they don’t have the same resources as a national bank or local credit union. A court judgment is their best chance at recovering what is owed to them. Note that sometimes repossession and sale is the preferred recovery method.

3. Divorce Settlement

You may not know this, but a divorce is a legal proceeding that must be approved by a judge. Even in uncontested situations in which divorcing couples manage to part amicably, a court must still sign off on the divorce. Divorce courts routinely enter awards structured as maintenance payments or child support.

Unfortunately, it is far too common for both types of payments to go unpaid. Spouses can choose to not pay for a number of reasons. Maybe it’s genuine financial hardship; perhaps it’s spite. Regardless, a judgment collection agency will use every tool at its disposal to bring maintenance payments and child support up to date.

4. Unpaid Utility Bills

Local utilities are generally monopolies operating with state and local approval. In exchange for being allowed to operate as such, utilities are often forced to allow customers to go considerable lengths of time without paying. When push eventually does come to shove, utilities stop service and turn to the courts for judgment.

It is understandable that utilities would want to avoid judgments whenever possible. Why? Because these represent bad PR. Utilities cannot afford bad PR in the sense that they rely on state regulators for rate approval. They …