Adam Alford's blog
September 30, 2019 by Adam Alford
Those who are new to the trading profession don’t understand how to trade the market with proper discipline. The new traders are always taking a huge risk in each trade and losing a big portion of their investment. Without learning to embrace managed loss, it will be nearly impossible to make a profit in this industry. Making consistent profit in the Forex market is a very challenging task. You have to understand technical, fundamental and sentiment analysis to become better at trading. Let’s learn some amazing technique which will help you to manage your risk exposure.
Ignoring the low-quality trade setups
Risk management is not only limited to lot size and trade scalping. Finding high-quality trades in the Forex market plays a great role in your success. Being a new trader, it’s very obvious you will execute the trade with high risk. Do you think high-risk trading can make you a rich trader? You might get benefit at the initial stage but considering the long term consequences, you are most likely to blow up your trading account. Try to trade the market professionally. Forget about the low-quality trade setups and you will become successful at trading.
Avoid trading the news
Those who trade the major news are always losing money. Dealing with losing trades is a very challenging task. Being a new trader it’s better to avoid trading the high impact news since it will increase the risk factors to a great extent. Most of the false spike and trade signals are generated in during the event of the major news release. As a new trader, it will be almost impossible to find the best possible trades in such a market condition. To avoid unnecessary hassle it’s always better to focus on the major news release so that you can stay in the sidelines and protect your trading capital.
2% rule of money management
As a currency trader, open the best Forex trading account so that you can find quality trades. The elite class Singaporean traders prefer to trade the market with a broker like Saxo since they offer a premium trading environment. Stop taking unnecessary risk in the trading profession since it will protect your trading capital. Blindly follow the 2% rule of money management. Some of you might think this will reduce the potential profit factor but in reality, this is going to make you a better trader. Being a rookie trader, you have to train your mind to embrace the losing trades. Forget about the complex methods of trading and follow a conservative trading technique.
Following a balanced trading strategy
Without having a balanced trading strategy you can’t become successful at trading. You might be new to the trading profession but this doesn’t mean you will buy an expensive trading system from the pro traders. Create your trading strategy based on your personality. Take advantage of the demo account so that you can craft a system with low-risk exposure. Instead of developing a short time frame trading strategy, try to create a long term trading strategy. Stick to your goals and never break the rules when it comes to real-life trading. Always remember, losing or winning doesn’t matter as long as you learn from your mistakes.
Be a confident trader
To manage the risk exposure in trading, you must gain confidence. Confidence has always been the key to success in any business. The rookie traders might think they know the details of this market and they can trade with high risk. This is nothing but gambling. You need to be prepared to embrace the losing trades no matter which trading strategy you follow. But you must have the confidence to recover the loss. Money management greatly depends on the trader’s mentality. If you trade with confidence and follow above-mentioned tips, you will never have a tough time in trading.
May 30, 2019 by Adam Alford
The funeral of a deceased family member is a really hard time for the rest of the members of the family. While the family is already under immense tension, the funeral costs simply add to their woes. Therefore, most health insurance providers today offer a family funeral plan that covers the cost of funeral and takes care of the arrangements beforehand.
Most family funeral plans cover the cost of funerals for not only the insured but also the cost of the funeral for the death of a family member. Being insured by a funeral plan will ensure that you do not have to worry about how your family is going to arrange a funeral on your death. (Information Credit – https://getsavvi.co.za/primary-care)
Why Should You Have a Funeral Plan?
Having a funeral cover might not seem to be the best choice for many people. However, it can significantly ease the financial troubles at a difficult time in your life. Here are the benefits of having a funeral plan:
1. When you lose a family member, you will not have to be burdened by the financial needs of a funeral while dealing with shock and grief. Again, if you are the main provider of the family, the last thing you want for your family is to be dealing with the expenses of your funeral.
2. If you are not financially secure, you might not be able to organise a proper funeral for a deceased family member. This will leave you feeling an open-ended sense of loss. When you are covered with a funeral plan, you will be able to hold a proper funeral and say goodbye.
3. Funerals generally need to be organised very quickly and require immediate payments for most of the arrangements. Even if the deceased has money to their name, you will require some time to access these funds after completing the various legal procedures. With a funeral cover, you will be able to get the funds for the funeral quickly and easily.
4. Some funeral plans offer cover for expenditure beyond the funeral itself. This includes associated expenses like the cost of the headstone etc. Most funeral cover providers also offer other support like counselling, legal assistance etc.
How to Choose a Plan?
Funeral plans are available for various premium levels, offering different levels of cover. Choosing the correct plan for your needs is crucial to ensure that you receive the required support and help at the right time.
Here are some tips that will help you choose the right funeral plan for you:
1. Discuss it with your family – When taking such a step, it is always recommended that you should discuss it with your family members. They will be able to give you valuable insights into the kind of plan you should opt for. This will also help in easing their uncertainty when the time arrives, knowing that the funeral expenses will be covered by the insurance provider. Also, you must share all plan information so that they know where to find it what the terms are when needed.
2. Research Various Plans – As you would do while buying any other insurance plan, it is important to conduct proper research. There are different plans and various types of cover. While some plans cover the cost of the insured’s funeral only, a family funeral plan covers the cost of their family member’s funeral too. Further, the amount of cover offered, and their claim procedures also differ.
3. Check the Record of the Insurance Provider – Conduct some research on the plan provider and check their track record in terms of processing claims and treating their clients. An insurance provider who won’t pay you at the time of need is of no good use. Ask some important questions to the plan provider like – Are they registered? Do they make any other deductions or charge anything extra than mentioned in the plan details?
4. Check What is Included in the Plan – Different plans offer varied levels and types of cover. While some plans offer a comprehensive cover, including the costs of disbursements as well, other plans do not. Also, check if there are any limitations as to where you can have the funeral or if there is a ceiling to the amount covered.
5. The Premium Amount – Funeral plans are often included with health insurance. In such a case, the premium for the plan isn’t very high. However, if you are opting for a separate funeral cover, you must consider the amount of premium you can afford.
It is essential to have a funeral plan to ensure financial back-up and support during a difficult time. A suitable funeral plan can help you in not only covering the costs and easing the pain but also ensures that the path ahead is easy for you and your family.