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By Frank Guariglia

Youve seen the banner ads on the Web. Make Millions In Penny Stocks! Whiz Kid Trader Turns $4,000 Into Billions! Make Money 24×7 Trading The Forex! Take this course, or buy that program, then sit back and watch the cash roll in.

Before you send your credit card number check out what a real life independent trader has to say. Like Frank Guariglia. The Philadelphia resident has been trading stocks full time from home for more than three years. When I tell people what I do for a living they think its the coolest job in the world, the road to easy money, Frank says. But, the reality is a lot different. This is hard, tedious, stressful work. I put a lot of time in. Im up at 4:30 AM checking news and markets around the world, reading the Wall Street Journal, getting ready for the opening bell. Most nights Im doing research. Theres nothing cool or glamorous about it. Some days its painfully boring. I sit, I watch, and I wait for setups that offer an above average potential for profit. Traders like to trade. Doing nothing for hours on end is extremely difficult.

Anybody can be a trader. Open a brokerage account, set up a computer with a phone line, and youre in business. Day traders, however, are a special category. The New York Stock Exchange( NYSE) and the Financial Industry Regulatory Authority (FINRA), require “pattern day traders” to maintain at least $25,000 in their accounts and they can only trade in margin accounts. Margin is a loan from a broker secured by the securities and cash in the account. A pattern day trading account offers tremendous leverage. With the $25,000 minimum a trader can buy $100,000 worth of stock during the day. Pick a winner and you can make a fortune quickly. If the stock tanks you can lose big, maybe even more than your original investment.

Frank worked as a service manager at Verizon Communications before he became a full time trader. During a round of downsizing his entire department was consolidated with another center in a different state. He was offered an attractive severance package in lieu of relocating, and he jumped at the opportunity to strike out on his own. I didnt wake up one morning and decide that I wanted to be a day trader. Ive been a serious investor for 30 years, he says. I dreamed about trading the stock market full time, but lack of time and lack of capital held me back. With my severance, and some savings, I suddenly had both.

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Very few people succeed as traders. Most blow up their accounts in short order, some in just a matter of a few months. Insufficient capital is often the reason. A trader who hopes to trade full time and live off the profits of a $5,000 account probably has about the same odds of succeeding as a Powerball player. Losses are a big part of the game. Even the best traders lose more trades than they win. They last in the business by keeping their losses small and letting their winners ride.

Hows Frank doing? Well, its been over three years, and Im still here, he says. Fortunately, I was able to start with a comfortable capital position. I havent had a profitable year yet. I started right before the Dow hit its all-time high in October, 2007, then crashed to a generational low in March, 2009. But, this year has been good so far. You dont get proficient at this overnight. It takes many years of study and experience. The mistakes I made early on cost me quite a bit of money. I consider it my tuition. Some traders fail for the same reason that many businesses fail. By the time they start to figure out what works theyre out of money!

Rule Number One is PRESERVE YOUR CAPITAL. If you run out of chips youre out of the game. Successful traders are masters at money management. They risk a small percentage of their account, 2% or less, on any single trade. I took some pretty big risks early on that resulted in sizable losses, Frank says. I also made the same mistake that many traders make by holding on to losing trades in the hope that they would bounce back. Sometimes they did, and that only reinforced a bad habit. Eventually, a loss not taken quickly will turn into a huge, painful loss if you keep hanging on. Take the small losses, and move on. One good winner can make up for a string of losers.

Day traders are looking for quick profits, and they close out their positions by the end of the day. Holding a trade overnight is risky. Adverse news like a bad earnings report, a lawsuit, or the departure of a key executive can drive the stock sharply lower the next morning. I generally dont want to hold a stock too long, Frank says. More time means more risk. A winner can turn into a loser real fast.

Prospective day traders are strongly advised to read the Securities & Exchange Commissions cautionary message, Day Trading: Your Dollars At Risk, at Frank says, Trading is becoming increasingly difficult, and dangerous, for small independent traders like me. We compete with high frequency traders using rooms full of computers to make millions of trades a day with the goal of earning a fraction of a penny on each trade! A lot of days are extremely volatile, just wild and crazy. Then, there was the Flash Crash of May 6. My jaw dropped as I watched the Dow plummet 1,000 points in a matter of minutes. It looked like it would never stop dropping. I had one trade going, and couldnt get out fast enough. I panicked, like many other people did, and lost a sizable amount. I heard that some trading firms, entire companies, were wiped out by the event. Could it happen again? Who knows?

So, why would anyone want to work long, hard hours, and expose themselves to such high risk in a competition where the odds are decidedly stacked against them? Frank says, I always wanted to do this. Its in my blood. Im always thinking about the markets, even on holidays and weekends. I love the independence and flexibility it offers. If I only want to trade for an hour, or take the whole day off, I dont have to get permission from anybody. Working from home is great. Long commutes, bad weather, difficult coworkers are not a problem.

What does the future look like for Frank? This is a very risky business. Id like some financial security. I have private health insurance, and its getting more expensive every year. A part time job with benefits would be nice. I would be happy to work nights or weekends, and trade during the day. I have a tremendous amount of energy and stamina.

2010 Frank C. Guariglia. All rights reserved.

About the Author: Frank C. Guariglia has diverse career experience including entrepreneur, telecommunications manager, and day trader. He’s always interested in potentially profitable opportunities.

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When prospects are looking at any business opportunity, they will assess it based upon what they feel comfortable with and with which company they have the best chance at success.

Any MLM business will first start by looking for prospects. Building a downline can only happen when you have identified prospects. The question is how will you identify these prospects? There are many different ways to do this such as buying a phone list of business opportunity seekers, asking family and friends to join the business, or to talk with people at places you regularly visit such as a coffee shop. These are often methods that are not highly effective in building interested prospects.

The approach that can work very effectively for you is attraction marketing. This is simply a type of marketing where you work on attracting prospects to your website. You do not have to worry about selling but rather about getting people to visit your website and to give them information so they will buy from you. It is very important with attraction marketing that you have a deep well of knowledge about your product and industry. When people come to your website or to you, it is important that you are able to provide the information they are looking for. This can start building a bond so that they will eventually buy from you.

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Attraction marketing is the simplest method of marketing you can do with your MLM business. It is not a quick solution to building a business but sets you up with the ability to consistently bring in new prospects and customers by following these same steps on a regular basis. With your knowledge, you are working on solving your customers’ problems. Instead of being a pushy salesman, you position yourself as a trusted advisor to your customers. They will welcome your advice when you portray this message both in words and in action.

One of the best MLM prospecting tips is that you must be the face of the business. People often will not sign up for a business without having an idea that someone can help them. This is where you need to put yourself forward as a good resource for anyone who may want to join your downline. When you are doing attraction marketing, one way to leverage this powerful resource is to combine it with social networking. This is the way business has begun to move both currently and into the future. It is a way to interact with your customers. People are not happy with simply reading websites for information. They want to be able to interact with business persons and with products and services. With social networking, you interact with your customers in different ways on the Internet. You can post regularly to forums your customers visit. You can keep a blog that you regularly post on. Follow up on comments by your readers. Post on your customers’ blogs. Offer a free webinar to explain a solution to common customers’ problems.

These are two very important prospecting tips for your MLM business. The business becomes easiest when you work on bringing the people to you. This shows their interest in what you have to offer. It is then your job to understand what they are looking for and to provide it. You can do all this through social networking and be sure to use different ways to interact with them. This can ensure that your MLM business has a great deal of success.

To learn how to EXPLODE your Business by mastering Social Networking visit my website to get more information from Top Producers in this industry.

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About the Author: Sandra Essex is a TOP Producing internet Marketer. She enjoys helping new people learn how to build their business over the internet. I’m 53 years old and if I can learn these skills anybody can! For more information on learning how to market your business over the internet visit:


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By Sean A. Kelly

You have probably heard of personal loans for people with bad credit in your search for loans. However, you may not be sure as to whether personal loans for people with bad credit are suitable for you. Choosing a loan to suit your needs can be a daunting business especially with so many types of loans out there. If you need to borrow the money for your own personal use, then you would probably need to be looking out for a personal loan that could cover your needs.

Personal loans are the types of loans that consumers take up to borrow sums of money for their personal uses from home improvement projects to paying for a college education. This loan is what consumers take for various purposes that is not related to business such as for business expansions or to purchase furnishings for your business. It is also not to buy a home, as you would need to be taking up a home mortgage loan for that purpose. When you apply for a personal loan, the lender may not even care what you use it for. They would be more concerns about your affordability and whether you could repay the loan. Of course, there are also the specialist personal loans like a car loan which you obviously will be using to purchase a car or a home improvement loan which you will be using to pay for your home improvement.

Other than the specialist personal loans, if you take up a general personal loan, the process would be pretty much the same. You can apply for the loan, the lender would process your application and perhaps even check on your credit score. If you pass muster, the lender would approve your loan and you get the money and then you can spend it whatever way you want. You will then be required to make a regular monthly payment to your lender for a period of time as agreed upon in your loan agreement. The payment may often cover the principal amount that you borrowed plus a sum that you may need to pay as interest charged by the lender. Your loan would only be considered fully paid up if you have repaid the original capital amount and also the interest attached to your loan.

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Now, if you have a bad credit rating, then perhaps you will need to be looking out for bad credit loans. One of the more common type of bad credit loan is a short term loan that may not require the lender to conduct a credit check. This kind of loan also may not require a co-signer. A payday loan or a cash advance loan is an example of a short term bad credit loan that may not require a credit check or a co-signer. However, the interest rate for this loan may be quite high compared to a regular loan. Some lenders may add two to three percent to the current prime interest rate because you could be considered as a high risk borrower.

When you have bad credit, it may be rather difficult to obtain a loan. That is why you may need to look for bad credit loans. Otherwise, you can also work on your credit by paying your debts on time and working towards clearing it all. If you are finally able to reach an acceptable debt to income ratio and you did not miss out any of your recurring monthly payments, then you may be able to obtain other types of loan packages, not just only those for consumers with bad credit.

About the Author: personal loans for people with bad credit bad credit loans bad credit


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