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Articles Archive for April 2006

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[9 Apr 2006 | No Comment | 284 views]

Try to find a trading method that will reflect your psychological bias towards trading. Not all traders have the patience to trade a computer system and watch the trades give back large amounts of open equity. Quite frankly, the heyday of $3,000 magical black box systems seems to have run its course. Very few mechanical trading systems are around and they are sold for the most part only to suckers who don’t know any better. The problem is that there are still plenty of those poor saps around.
Other traders want methods with as little involvement as possible due to job related responsibilities. Not all traders have the psychological traits suited to trade certain types of methods. Your broker cannot perform brain surgery on your behalf, when thoughts of a trailing stop are performing brain surgery on you.
Giving your broker discretion to trade your account as he/she sees fit, is like …

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[9 Apr 2006 | No Comment | 298 views]

“Hey Joe: Is it better to be an optimist or a pessimist when you are trading?”
That is a very interesting question. It would seem than being somewhat pessimistic would cause a trader to take fewer trades and cautiously manage the trades he/she takes. In contrast it would seem that a more optimistic trader would tend to trade more often, taking greater risk.
However, studies have shown that neither of the above is true. In a recent study, men and women did not differ in their levels of optimism, but optimistic men made more risky trades (futures, options, number of transactions) than pessimistic men, pessimistic women, or optimistic women. In the study, being more optimistic and making more risky trades didn’t seem to have any negative consequences. The final values of the accounts did not differ between men and women, or between optimists and pessimists. Optimistic men, although making riskier trades, performed …

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[9 Apr 2006 | No Comment | 307 views]

When it comes to preparing our taxes, many of us could use some help. The following websites offer guidance and information that may assist you in learning about how to get the most out of filing your returns.
Fairmark.com
www.fairmark.com
Recommended by Forbes.com, Fairmark.com sia tax site dedicated to helping investors file their taxes correctly, offering a Tax Help Center and guidance when dealing with Roth IRAs, capital gains, and financing for college.
IRS.com
www.irs.com
Although not affiliated with IRS.gov, this site suggests online taxx programs you can use for filing your return; info about extensions, deductions, and refunds; and Hot Topics, such as Tax Scams.
MSN Money
moneycentral.msn.com/tax/home.asp
MSN Money’s Tax Estimator hepls you prepare to file this year’s taxes with information about tax law changes. A tax terms glossary helps you decide what forms you need to file, and tax attorney Jeff Schnepper answers questions you post in the Tax Corner message board.
TaxSites.com
www.taxsites.com
A directory of tax and …

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[9 Apr 2006 | No Comment | 272 views]

A divorcee who remarries has to call up the customer service division of the credit company and inform them about the change in the personal details. If a woman remarries and changes her name on the account, lenders have the right to review her account or credit file for her creditworthiness. A remarried person can either open a solitary account or be a joint account holder to the spouse.
After going through the tension of a divorce and the way your financial assets are split, you can consider having credit in your name. It is also convenient to have your own credit history, so that your credit history does not get ruined because of your partner’s wrongdoings or in disciplinary usage of the card. If you are a solitary card holder by yourself, you can have the credit when you need it, even in dire times.
It is your call if you …

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[9 Apr 2006 | No Comment | 271 views]

Have you ever imagined how much of your money is literally going waste as interest payments on credit cards? The average family in the United States is knee-deep in debt with a liability of around $7500 as credit card payments. About $1000 is paid as interest each year by the family to the credit card company. If you include a couple of late payments and over the limit charges, the figure gets embarrassingly high.
Nearly three out of five U.S. households are accountable for the approximately $560 billion in outstanding credit card debt. The total consumer debt including credit card payments and home mortgages are around 6.8 trillion beating the total US national debt, which is around 5.9 trillion. There has been a noticeable decline in the US personal savings rate from 8% in the 1980s to less than zero in present times. There is a colossal increase in credit card …

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[9 Apr 2006 | No Comment | 272 views]

One of the most important factors a person considers when choosing a credit card is the interest rate. The interest rate is the rate which is computed on the card on a yearly basis. The grace period is the number of days remaining before you make your outstanding payment in full, so that you are not billed finance charge.
The fine print of credit card companies reads grace period as a specified amount of days from the statement date, given the fact that you have paid your previous balance in full by the due date. The grace period is usually related to new purchases and not for ‘revolving’ purchases. That means, if you carry over your balance of the previous month, you do not get a grace period. On the contrary, you are charged interest on the spot for the purchase made, which is added to interest of the previous unpaid …

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[9 Apr 2006 | No Comment | 273 views]

You might have encountered a situation where you chance upon an attractive pink dress for your girlfriend. The moment you give the credit card to complete the transaction, the card is declined. Frustrated, you call up the credit card company only to know that the decline happened because there is not much credit on your account. So, you ask for a credit line increase. The customer service division takes your request for the increase of the credit line. There can be 3 kinds of responses in this regard:
1. Your request could be approved and you are given a credit line raise right away.
2. Your are asked to give a call within 24 hours to know the status.
3. Your request is declined right away. The reasons could be anything from a negative marking on your credit report to asking for a credit line increase within a few months of getting a …

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[9 Apr 2006 | No Comment | 285 views]

Reward credit cards come in different varieties. There is a different set of procedures for earning reward points and the ways in which you can redeem those points for rewards for different cards. There is a specialized field or area toward which a reward credit card is related.
For people who frequently fly with the same airline company or frequent fliers, there is an airline reward credit card, through which the customer can earn frequent flier airline miles on the purchases made. These airline miles can be redeemed for flight tickets or substantial discounts at hotels, travel destinations or car rental agencies.
There are some reward credit cards that allow you to earn points when you make purchase at drugstores, gas stations and supermarkets. You can earn a discount of 5 percent on these purchases while other purchases give you a discount of 1 percent. The points or rewards earned in this …

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[9 Apr 2006 | No Comment | 323 views]

Low interest credit cards are a great choice if you feel that you are paying too high interest rates on your credit cards. If you want to lower your credit card debt, then you can consider getting a credit which has a low rate of interest. Here are some of the guidelines which you can take care of while you chose the best low interest credit card:
1. Maintain a good credit history: It is better if you keep a clean chit as far as your credit history is concerned. You should be making your credit card payments on time and not going over the limit with the credit line. If companies view you as a valued customer who knows to spend the credit card wisely, they will like to do more business with you. You can definitely tilt the deal to your side by asking for a credit card with …

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[9 Apr 2006 | No Comment | 283 views]

An APR or the Annual Percentage Rate is the combination of monthly finance charges and interest rates expressed annually. Every credit card has different APRs. For example there is a certain rate of APR for purchases, cash advances and balance transfers. The cash advances have the highest APR compared to credit purchases and balance transfers. Balance transfers carry the lowest rates usually. The zero percent APR normally applies to balance transfers and promotional credit cards like the students credit card.
The Zero APR is prevalent for a specific introductory period which lasts for six months or a year. Lets evaluate what exactly the 0% APR really man? Let’s say you have a high interest rate balance outstanding on an existing credit card. You have also used most of the credit. The zero percent APR credit card gives you the benefit to transfer your balance onto this card without any additional interest …