Created by Ray Dalio this simple but not simplistic and easy to follow 30 minute, animated video answers the question, “How does the economy really work?” Based on Dalio’s practical template for understanding the economy, which he developed over the course of his career, the video breaks down economic concepts like credit, deficits and interest rates, allowing viewers to learn the basic driving forces behind the economy, how economic policies work and why economic cycles occur.
It really doesn’t matter who we are or what stage in life we’re at. You could be in school and you can’t seem to figure out the rules of global finance. You could be holding down a job but you desire to make a decent second income in your spare time.
Currency is in every facet of our lives, so why aren’t you cashing in on it?
One of the Key elements of successful trading is having a specific strategy that tells you what to do. When you follow a concise strategy, nothing is left to emotional triggers and everything boils down to following the rules of the strategy.
Even with a successful trading strategy, some traders still seem to suffer consistent losses rather than consistent profits like their peers. This goes to show that pairing a successful strategy with your personality is far more important than blindly following an established trading strategy.
There are five categories of forex traders:
Traders who like fast action. They enter and exit the forex market multiple times a day, taking a few pips each time. With the need to react to market movements quickly, scalping is most suitable for traders who can devote their undivided attention and focus on the charts for a couple of hours at a time.
Additionally, Scalpers need the ability to think on their feet and switch the direction of their trades fast if the situation calls for it.
2. Day Traders
Day Traders don’t like to hold a trading position overnight. They typically put on a trade at the start of the trading day and tend to close it before the day is over.
Unlike Scalpers who avoid the news, Day Traders love trading the news. Keeping abreast of the daily news releases actually helps them to plan their trades more effectively.
3. Swing Traders
Swing Traders normally hold trades beyond a day but never beyond a week. This trading style is most suited to part-time traders who have full-time jobs.
Swing Traders tend to be a bit more conservative that Scalpers or Day Traders. They typically wait for several confirmation signales before triggering a trade.
4. Position Traders
Position Traders have the longest time horizon of the different categories. The total opposite of Scalpers, Position Traders can sit on a trade for several weeks to several months.
Position Traders have a very strong grasp of market fundamentals and are able to spot changes that could lead to highly profitable long-term gains once trades are locked in. Depending on the currency pair, the profit potential per trade can range from 500 pips to several thousand pips.
5. Mechanical Traders
Usually beginners in the forex market, their main focus in trading the markets is not time driven but system driven.
After going through a period of trial and error, Mechanical Traders deem a particular strategy sound and focus only on the execution of that strategy based on its rules.
We are how we trade and we trade how we are. Your unique personality will cause you to trade differently from someone else.
The key here is to discover which category you are in. The FXPRIMUS Training & Education team have an online test that helps you determine just that.
Are you tired with working hard?
Tired of doing the same thing every single day?
Do you want to change it and become better and more successful?
If these things are true, then you might want to go to the Rich Dad Asia workshop.
This is a workshop that is being offered only to people who are ready to change their lives, who have the ability to really improve their lives.
The Rich Dad Asia workshop is taking place in Cambodia for those professionals and entrepreneurs, who are ready to succeed in life, earn more money and have a better life.
The Rich Dad Asia Workshop will teach you many incredible techniques that you won’t have heard before that will show you exactly how to change your life. After the workshop you will be surprised that you hadn’t done this action years ago, but it is not too late – start now and change your life.
The workshop will teach you how to make your money work for you, rather than you working for your money. It will teach you how rich people become rich (here is a hint, it’s not how you think). You will learn how to become an expert at the stock market, and how real estate can make you more money than you ever thought possible.
This workshop is led by Bellum Tam. Bellum Tam is a multi-millionaire who has applied many of the concepts that he has used for his businesses and investments, and now he will teach you how to do what he has done, based on the works of Robert Kiyosaki. Robert Kiyosaki is the author of Rich Dad Poor Dad, a bestselling book teaching you exactly how to become successful and rich.
So if you’re ready to leave your boring life behind, and start living the life you know you deserve, attend the Rich Dad Cambodia workshop, you will regret it if you don’t.
Call us 023 6364 966 or e-mail us to book your seat/s.
Consumer households and businesses need to have cash on hand for general needs and for emergencies which may occur. Entities can easily run into trouble when adequate cash is not available. One thing with having steady cashflow is it is needed for long-term success and for daily expenses. The money which is earned by an individual needs to be put in a safe place to grow income. However, a household needs to have a certain amount of cash that is liquid. This means basic investment accounts need to be easy to access and are not subject to any losses.
Individuals need to be conditioned about the different aspects of earning money. This means taking the time to learn about the best ways to invest and keep extra money on hand. The best way to do this is to have a dedicated coach who is able to provide an individual with basic feedback and encouragement. This can easily be done by joining a group of like minded people, such as Cashflow Club Cambodia.
There are many aspects about finances that need to be understood by consumers. This includes how to develop financial intelligence, learning about basic accounting and skills for managing risk. There is also strategic thinking skills every person will need to know. One main aspect is being able to see opportunities that were not seen previously. Many people are stuck in a rat race and often feel they will not be able to achieve financial success.
Visit Cashflow Club Cambodia for more information about obtaining success and financial growth.
According to Robert Kiyosaki, getting rich starting from THINKING. Change the way we think and our financial life will be changed.
Is it that simple? Why the mass majority of people are poor? There must be a missing link that we do not understand what he means by Changing our Thinking. Let’s listen to Robert Kiyosaki and find out how to be rich.
How do you think about his advice from the video above? Please share what you have learned from Robert Kiyosaki on how to be RICH.
We are the official event organizer for Rich Dad Asia in Cambodia. We have a mission “To elevate the financial well being of the Cambodians.” This simply means that we bring the right education for you and other Cambodian people that help you to see the future better so you can stay ahead on the marketplace.
Contact us today for more information: 023 63 64 966 or email us
We have the privilege to share with you an advice by our Rich Dad Asia that we got from his facebook fan page at Bellum Tan – Rich Dad Asia. We are happy to post this message with his full permission and support. Please enjoy your reading:
” Think of something new you’ve actually learned in the past week; if you can’t think of anything, get comfortable where you’re at because you’re not going anywhere. To stop learning is to stop living.” – Robert Kiyosaki Love waking up a new day and getting challenge by Mr Robert Kiyosaki.
For everyone needs a coach or mentor that continue to kick them , so if you have not found yourself a coach look for one. What have you learn last weekend if you can’t come up with anything that you have learned than you have wasted a part of your life. Last weekend I have a great lesson learn with open out my eye to a new opportunity. Thinking that you are the best will stop you from learning and stop living. SO look forward to a great week and go learn something new.The best place to learn is to go listen to a seminar as often it is presented by someone who have been there or they have read from the book.
To me this is the lazy way to learn. But if you want to be RICH learn to be LAZY instead of being hard working like going to a library and try to read all the books with great knowledge in it. Why spend so much time reading searching for the right book to read why not wait for someone who have read it and share with you the best part and when you want go in more in depth than go and pick up the book. Or why go and do it yourself and bang yourself into the wall and learn the hard way when you can learn from someone who already being there. Survey also found that the best way to learn is not by reading but by attending talk or getting your hand all dirty doing it. That is why I aways encourage people to play Cash Flow 101 the financial education board game created by Mr Robert Kiyosaki.
PS: We are going to have Mr. Bellum Tan, Rich Dad Asia and Investment Partner of Robert Kiyosaki to conduct a workshop in Cambodia this upcoming weeks. More information please CLICK HERE
Any Goals To Build Your Wealth?
The money is out there. No matter how many people tell you that we are in the midst of a starvation economy, that the market is doing this or that, and that it’s too risky to “play the game,” so to speak, people are getting rich every day. That is the reality.
The trick, of course, is to become one of those people.
“Yeah,” you might say. “That guy was just lucky. What are the chances of that happening to me?” Well, absolutely zero if you don’t do anything about your dreams to build wealth. If you walk around thinking that you have only a snowball’s chance of hitting “the big one” in the financial game, then you are right. That’s because you are depending on chance.
Becoming wealthy is not about chance. Oh the guy you just read about may indeed have been lucky—but he was not “just lucky.” Because fortune favors the prepared mind, you have to lay the groundwork in order to take advantage of opportunity when it arises. You have to be able to not only recognize those opportunities, but to actually have the resources to take advantage of them.
Laying the groundwork involves having a plan for your financial future. What is your plan for building wealth?
If, like most Americans, you don’t have one then, like most Americans, you will retain the status quo. But if you recognize that you, and only you, are in charge of your destiny, that is an entirely different matter.
According to Robert Kiyosaki, author of the Rich Dad series of books, you have to get a grip on your financial philosophy. You don’t have a financial philosophy, you say? Sure you do, even if you don’t realize it.
In his book “Cash Flow Quadrant,” Kiyosaki outlines the four philosophies as they were outlined for him by the man he calls his “rich dad.” You can recognize your own philosophy by noticing how you tend to make your money. On the left side of the quadrant, are the E’s and the S’s—the Employees and the Self-employed. The philosopy of the E is based around security while the philosophy of the S is based around doing his own thing. While there is nothing wrong about either philosophy, neither is likely to help you build much wealth.
On the right side of Kiyosaki’s quadrant, are the B’s and the I’s—the Business owners and the Investors. The difference between a B and an S, Kiyosaki says, is that the B has built a system which he can rig to run itself, freeing him for other financial or personal pursuits. An S simply “owns a job,” as Kiyosaki says, and is such an integral part of the operation that he is essentially a prisoner of it. The company he has created is his “baby.” But we all know how demanding babies are, and if a business never matures into an adult that can survive without your mothering, it will eat most of your time.
The trick, then, is not to build a better product. It’s to build a product better—more efficiently with regard to your own resources. Build a system, not a job. Then you will have the money that will take care of your personal needs and allow you to invest.
If you already have loads of money to work with, then you can go ahead and jump right to the I quadrant—after investing in your own education and learning how it works. Investing is risky if you jump in blind, but if you know what you’re doing, it is a whole different matter.
So lay the foundation with education and then build your wealth as though you were constructing a structure. Don’t skimp on materials, but instead do it methodically. Eventually you will find yourself staring at an impressive building that will help you weather any storm.
We are going to organize a Rich Dad program in Cambodia. You are invited to join and learn how to develop your goals to build your own wealth.
The author, Robert Kiyosaki, wrote that it was when he was nine years old that he started realizing that his rich dad made much more sense than his poor dad. It was from rich dad that the author learned not to say, “I can’t afford it”, but instead to ask, “how can I afford it?” He explains this principle by relating an incident when he and his best friend Mike went to work for Mike’s father. Rich dad paid them very low wages deliberately so that would stir anger and a sense of injustice in them and eventually for them to realize that in order to get ahead, one must work for himself and not for others. For example, in that part of the book when the author complains to rich dad that he can hardly afford to buy anything with the wages he is paid, rich dad tells him that he shouldn’t dwell on the fact that his wages are low, but instead ask “how can I make more money” because this stimulates the brain to take action. His rich dad says that when someone says, “I can’t afford it”, his brain stops working. It therefore kills initiative and promotes passivity.
The author adds that while his poor dad invested time and effort in education, he did not have any knowledge on investing. His rich dad, by contrast, was very skilled in the investment game because that’s all he did. The attitude of his rich dad about money was manifested in the saying “the lack of money is the root of all evil” (his poor dad, on the other hand, believed that the love of money is the root of all evil).
According to the author, rich dad also nurtured the idea that taxes punished producers and rewarded the non-producers. He was the type who encouraged money talk at the dinner table and was portrayed by the author as someone who learned to manage risk, instead of not taking risks.