- @Elle_CM Natalie's raid looked like it was filmed with a strobe light. Lame CGI in reply to Elle_CM #
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- RT @freefrombroke: RT @moneybeagle: New Blog Post: Money Hacks Carnival #115 http://goo.gl/fb/AqhWf #
- TED.com: The neurons that shaped civilization. http://su.pr/2Qv4Ay #
- Last night, fell in the driveway: twisted ankle and skinned knee. Today, fell down the stairs: bruise makes sitting hurt. Bad morning. #
- RT @FrugalDad: And to moms, please be more selective about the creeps you let around your child. Takes a special guy to be a dad to another' #
- First Rule of Blogging: Don't let real life get in the way. Epic fail 2 Fridays in a row. But the garage sale is going well. #
Top 7 Reasons To Trade Forex Over Other Financial Instruments
This is a guest post provided by ForexTraders.com
The foreign exchange market has literally exploded over the last 10 years. Before the 1990’s, the only players allowed to speculate in the forex market were banks, large hedge funds, and very wealthy individuals. The reason was simple. The minimum contract size was usually $100,000 and it ranged up to $1,000,000; therefore, most traders simply could not afford to trade in the market. The advance of technology and internet changed that. Today, traders can open an account with as little as $100 and begin trading in the spot fx market. This change has caused traders around the world to rush into the market and the Bank of International Settlements now estimates that average daily turnover in the fx market is around $4 trillion! Let’s examine a few of the top reasons why the fx market is drawing so many traders.
Leverage
In the United States, traders that engage in fx trading can leverage 50:1. Leverage was much higher in recent years, but government regulations have now capped leverage at 50:1 effective late October. This means that a forex trader can control a position of $50,000 with only $1,000 on deposit with his broker. Leverage is definitely a two-edged sword that can help a trader garner very quick and substantial profits, but it can also lead to debilitating losses and should therefore be used with caution.
Liquidity
The huge amount of volume that is present in the forex market each day makes it basically impossible for any single financial institution or even group of market participants to manipulate price movements. It also makes it much easier for large traders to enter and exit the market without trading against themselves, which is a common problem in the stock and commodity markets.
24 Hour Market
The forex market is a loosely connected network of international banks; therefore, the market never closes from Sunday evening until Friday afternoon. Liquidity simply flows from financial center to financial center as time zones open and close business operations for the day. This is a huge advantage for small, retail traders because those who still have full-time jobs can trade at night.
Small Initial Account Size
Traders can open accounts with as little as $1 at some brokers, and then trade positions where each 1 point movement is equivalent to $0.01 (in the U.S. this would be lower since the leverages are capped at 1:50). This will obviously never get a trader rich, but it does allow traders a very low risk entrance into the market. Traders generally need $20,000 in order to day trade the stock market. This very low account size at an online forex broker is a big draw for many traders.
Long Trends
The currency market tends to develop very clear, long trends. It is not uncommon for specific currencies to head in the same direction for 5+ years. Of course, there are many dramatic price swings that make real-time trading difficult and challenging, but a quick look at longer-term currency price charts makes it clear that currencies develop strong trends.
Macro Economics
The currency market is very big picture-based. This means there are not a million and one little things that a trader has to track as is common in other financial markets. Currencies react to major macroeconomic developments around the world. Seasoned fx professionals argue that this makes the job of economic analysis much different in the currency market.
Continued Growth and Volatility
The foreign exchange market is expected to continue to grow in coming years, and volatility is expected to remain quite strong as the world continues to move toward a more globalized economy. As globalization continues to change the world economy, investor interest in currencies will most likely continue to grow steadily.
Jason’s commentary: I’ve never looked into forex trading, mostly because I’m not in the “invest & grow rich” stage of my financial life. Have you invested in the forex market?
Let’s Talk Pets and Other Unexpected Expenses
The following is a guest post by Crystal at Budgeting in the Fun Stuff. Her blog covers living expenses, saving for your future, and the fun stuff in between. (Ed. Thanks, Crystal!)
I’ve been complaining on and off about the cost of my poor Pug’s allergies, so I thought I’d do a little post to let all of us vent a little about unexpected expenses. 🙂
Here’s how much Mr. Pug has cost in vet bills and medicine alone since he developed major allergies to meat proteins and dairy in February 2010:
- February 4, 2010 – Mr. Pug licked off some hair, so we visited the crappy vet I will never go to again – $185.29
- May 11, 2010 – Mr. Pug stopped eating and his eyes looked cloudy, first visit to new vet for dry eye – $177.78
- May 12, 2010 – Dermatology Exam, Skin Scraping, Ear Check, and 6 medicines – $254.00
- May 18, 2010 – Check-Up on dry eye – $53.34
- June 2, 2010 – Check-Up on Ear Infections, Skin Infection, and medicine refills – $134.00
- July 8, 2010 – Check-Up on Skin Infection, 2 new medicines, and 2 refills – $146.80
- July 8, 2010 – Antibiotics – $60.60
AND we’re scheduled for another $105 check-up this coming week for his hopefully healed ear infection. So, between February 4 and this coming week, we will have paid at least $1116.81 for vet visits and medicines alone. That doesn’t even take into account the $45 bags of vegan dog food that only lasts about 6 weeks or the $500 we spent last year on 5 tooth extractions. 🙁
Thankfully we didn’t get pets until we had excess cash flow, but DANG! He’s an expensive little boy! I love him and we’d pay it again, but I wouldn’t suggest pure breeds for anybody not willing to lay out major dough for something as “simple” as allergies. We would totally let our dogs go if they needed chemotherapy or something (yes, I have my lines), but allergies…well, how do you turn down treatment that can make a pet 99% better? I’m a sucker for his big Pug eyes…I mean, look at him:
Have you had any unexpected expenses pop up? If so, what have they been and how are you dealing with it?
GTA 5: Do Moving Release Dates Boost Sales?
Grand Theft Auto 5 is the upcoming gaming title developed by Rockstar Games, set in the . Grand Theft Auto has been a perennial classic and the definitive gaming series for Rockstar Games, creating the modern urban sandbox game and similar gaming titles such as Saint’s Row. The release date for GTA 5 was originally planned at the beginning of the year in spring 2013, but was pushed back to September 17. Does moving release dates have any noticeable effect on the sales of video games?
One of the most important effects of moving release dates is to afford the studio and developers of the game more time to put finishing touches on the game. Two examples of games being rushed by developers, possibly in order to meet release dates by studios, are Dragon Age 2 and Mass Effect 3. In this case, moving the release date may appease anxious fans for a short amount of time, but the quality of the game may not hold up to expectations. This is particularly obvious in Mass Effect 3, where the lackluster ending stood out as an enormous drawback to the game and may even lower sales of future games planned in the Mass Effect universe. There was a huge divergence in the quality of the ending compared to the quality of the rest of the game that prompted many gamers to deduce that the ending to the game was rushed. This is particularly damaging to a game which has built up to the ending in the trilogy only to disappoint the gamers who have played through Mass Effect and Mass Effect 2 to see the ending. The fiasco created by the ending even caused the studio to release another ending, although the damage may be permanent.
Otherwise, even late in the development cycle in a game, there are important stages for the game to go through such as bug testing, so that any potential bugs or glitches may be fixed before release. This is important particularly in AAA titles such as GTA 5, where fans have a great deal of expectations about the realism and immersion of the game itself, which can be broken by an abundance of bugs. In this case, it may be better for the studio to delay the release date instead of releasing a mediocre, or even worse, an unfinished product. It is particularly worthwhile for Rockstar Games to take their time considering that GTA 5 is one of their most important titles; it is of paramount importance for them to preserve the quality of the game rather than rush any part of the game’s release.
Finally, there is indication that moving the release date of games later can actually boost sales. If the delaying of the release date can result in a better product, the game can sell both on release and from pre-orders as well down the road, if it becomes critically acclaimed as a quality AAA game. One of the breakout success stories in gaming this year was Bioshock Infinite, released by Irrational Games which had its release date moved to February 26, 2013 from October 16, 2012. However, the ending of the game was almost universally regarded as one of the best in AAA titles, and it is conceivable that more games will be sold because of the higher quality.
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Twitter Weekly Updates for 2010-06-26
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The $10 College Fund
I recently started a college fund for my kids. With my oldest getting ready to turn 10, this was a late start. However, when he was born, we were in no position to set aside anything extra.
At least, we didn’t realize we were at the time.
When our oldest son was born, I was 20 years old. I was working in a factory and hadn’t gone to college myself, yet. That’s a situation that makes it hard to justify a college fund. Financial planning and responsibility was to come at a later date.
So, how much do we have in this shiny new college fund? [Read more…] about The $10 College Fund
