As parents, we understand the importance of talking to our children about sex and drugs. We get them involved in sports early to teach them the value of teamwork and physical health. Yet how often do we discuss budgeting, compound interest or debt management? When it comes to finances, we don’t want to stress them out, think talking about money is rude, or feel they don’t need to understand finance until they are older. Yet every step our kids take from college through retirement will be directly influenced by their ability to manage their finances: student loans, credit cards, jobs, mortgages, savings, etc. Some schools teach personal finances, but a financial literacy test given by the National Financial Educator’s Council found that test-takers from 15-18 years old scored an average of only 59.6%. So it’s up to the parents to make sure our children have a financial education before going out to the real world, where they will make financial decisions that will affect the rest of their lives. Of course, no child big or small will respond well or retain a sit down lecture on finances, so you have to sneak in the education; make it fun, interactive and relevant. The more you integrate finances and money into their everyday life, the more comfortable they will be with personal finance as adults.
Read Article: https://www.forbes.com/sites/lizfrazierpeck/2017/06/28/how-to-teach-your-children-about-finances-at-any-age/?ss=personalfinance#2311bb46b2fe
Day trading is making short-term trades, lasting less than one day, in an attempt to extract a profit from the financial markets. Some day traders are very active, making many trades each day, while other traders may only make one or two trades per day. The most common day trading markets are stocks, forex and futures. Day trading can be a part-time or full-time career, depending on the trader's style.
It can be lucrative for some, but the long-term success rate is low.
There is a lot of hype around day trading. Some websites promote it as a way to get rich quick (it isn't), and others say it is impossible (also not true). There are lots of day traders around the world who find success and make a living off the markets, so the truth lies somewhere in between those two extremes. If you've thought about day trading, it's worth your time to read through and understand the concepts discussed below, so you'll be better prepared for what to expect if you decide to proceed.
Read Entire Article: https://www.thebalance.com/before-day-trading-1031231
What Is Forex?
The foreign exchange market is the "place" where currencies are traded. Currencies are important to most people around the world, whether they realize it or not, because currencies need to be exchanged in order to conduct foreign trade and business. If you are living in the U.S. and want to buy cheese from France, either you or the company that you buy the cheese from has to pay the French for the cheese in euros (EUR). This means that the U.S. importer would have to exchange the equivalent value of U.S. dollars (USD) into euros. The same goes for traveling. A French tourist in Egypt can't pay in euros to see the pyramids because it's not the locally accepted currency. As such, the tourist has to exchange the euros for the local currency, in this case the Egyptian pound, at the current exchange rate.
Read more: Forex Tutorial: What is Forex Trading? http://www.investopedia.com/university/forexmarket/forex1.asp#ixzz4jOCVnp74
Follow us: Investopedia on Facebook
In this Entrepreneur Network video, Akil Stokes, chief currency analyst and head trading coach of Trade Empowered, admits that even he has bad days in the markets. However, a bad trading day does not mean that the trades themselves were bad.
Stokes defines a good trade as one in which you follow your own rules and don't make mistakes. A good trade is not defined by its outcome -- an outcome it is just an effect of the market.
So on losing days, he says, the most important thing to do is to get away from the markets. The worst thing you can do is make trades based on revenge or in an attempt to make money back, because you will not be following your personal rules step by step.
Watch Video: https://www.entrepreneur.com/video/278981
Day trading for beginners is like taming a lion, except more expensive. It's a risky and challenging pursuit: buying stocks and selling them again in the same day, making money off tiny fluctuations in the price of a stock over a six-hour period. For many years the tools of day trading were not available to the average investor. Today with high-speed Internet connections and a lot of nerve, anybody can day trade. If you have a stout heart, here's what you can do to avoid common and costly mistakes.
Read Entire Article: http://www.wikihow.com/Avoid-Day-Trading-Mistakes