Consumer tips that everyone should know and understand in order to protect themselves financially.4/8/2017
TOP TEN CONSUMER TIPS:
1. Say no to high-pressure sales pitches. If the offer is only good today, walk away. 2. Always read contracts carefully before you sign them, and make sure all written documents match what you’ve been promised. Never sign a document that you don’t understand or that has blanks to be filled in later. 3. Be cautious when responding to telemarketers, door-to-door sellers, and email or text pitches. Instead of responding to unsolicited offers, decide when and where you want to go shopping. 4. You never have to make a purchase or pay taxes, fees or other expenses in advance to win a prize. Anyone who demands an upfront fee for a prize is trying to scam you. 5. Never give out your Social Security Number, credit card or bank account number or other personal information to anyone you don’t know who contacts you. 6. Be skeptical of upfront fees. North Carolina law makes it illegal to collect advance fees for some types of work, such as foreclosure assistance and debt settlement help. If an advance payment is required for other kinds of transactions, use a credit card when possible. This gives you some protection if your order doesn’t arrive or the work isn’t completed. 7. Do business with companies you know or that come recommended by those you trust. Check out companies with the Attorney General’s Office at 1-877-5-NO-SCAM or your local Better Business Bureau before making major purchases. 8. Join the Do Not Call registry to cut down on unwanted telemarketing calls. To sign up, call 1-888-382-1222 from the number you wish to register or visit www.donotcall.gov. Once you’re on the list, report Do No Call violators to the Attorney General’s Office. 9. Check your credit report regularly. You’re entitled to one free credit report per year from each nationwide credit bureau. To access your free credit reports, visit www.annualcreditreport.com or call 1-877-322-8228. 10. If an offer sounds too good to be true, it probably is. Read Article: http://www.ncdoj.gov/Consumer/Top-Ten-Consumer-Tips.aspx What is a 'Day Trader'A day trader engages in long and short trades in an attempt to profit by capitalizing on the intraday movements of a market’s price action resulting from temporary inefficiencies in the supply and demand of the moment. A day trader often closes out all trades before the market close and does not hold any open positions overnight. Some day traders use leverage to magnify the returns generated from small stock price movements.
BREAKING DOWN 'Day Trader'Day traders are handicapped by the bid-ask spread, trading commissions and expenses for real-time news feeds and financial analysis packages. Successful day trading is a skill that requires extensive knowledge and experience to master. For those day traders that master the skill, opportunity for making profits is abound. There are many methods and techniques that day traders use to make trading decisions. They range from traders that employ very elaborate computerized trading systems that use technical analysis to calculate favorable probabilities, to others that trade based on sheer instinct or “gut feeling.” At all levels, there are those that are profitable, and many that are not. What Day Traders TradeUnlike investors who use fundamental data to analyze the long-term growth potential of a corporation in order to make a decision to take a long position in its security, a day trader is more concerned with price action characteristics of the security itself. Price volatility and average day range are critical to a day trader. A security needs to have sufficient price movement over the course of a typical day in order to attempt to capture some of that movement for profit. Volume and liquidity are also crucial to a day trader in that entering and exiting trades quickly is vital to capturing small profits per trade. Securities with small daily range and light daily volume are not well suited for day trading. How Day Traders TradeDay traders key on any events that create a short term movement in the market. Trading the news is a popular technique that day traders use. When scheduled announcements regarding economic statistics, corporate earnings or interest rates, and do on, are announced, there are always expectations by market participants. When those expectations are not met, or exceeded, markets usually make sudden and large moves, which day traders attempt to seize upon. Another popular method is fading the gap at the open. When the opening price shows a gap with respect to the prior day’s closing, taking a position in the opposite direction of the gap is known as fading the gap. For days when there is no news, or there are no gaps, day traders will make a determination early in the day as to which general direction the market is moving. If the market is moving upward, day traders will buy securities that are exhibiting strength when their prices dip. If the market is moving downward, day traders will short securities that are exhibiting weakness when their prices bounce. There are as many methods as there are day traders. Read more: Day Trader http://www.investopedia.com/terms/d/daytrader.asp#ixzz4dXZ24nCT Follow us: Investopedia on Facebook |
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August 2017
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