How to choose your leverage for Forex trading?
Leverage in forex means that you are using a borrowed capital, aka margin, to increase the potential return of your investment. For example, a leverage of 300:1 means that a $1,000 order can control 300 times that amount of money, or $300,000 , in a buy/sell deal.
Leverage can be a very deadly weapon when not used wisely. (more…)
I have seen so many people get stuck in so many bad situations when taking out payday loans. Let talk today about how to escape an online payday loan trap.
What it it?
If you have ever taken out an online payday loan you know what I am talking about. Unless you paid it back in full on the first due date, you probably ended up in the trap yourself. What I call the trap is when you take out a payday loan and you agree to the terms of the online company and let them debit your bank account for their payments.
What is wrong with that?
Most people are in such a hurry, and know they could have their money in their bank account within 24 hours, that they do not pay attention to the terms, and when a company is charging up to 400% APR you must pay attention.
Most online companies will charge an extremely high rate to borrow the money, and it will be a recurring payday charge unless you specify otherwise with a phone call within 3 days of the due date.
Did I lose you?
Thought so, and the loan companies are counting on you getting lost too, in a very big way.Lets take a closer look to see why.
A 2 week payday loan of $500.00 Interest on this loan for the 2 weeks: $150.00 Total loan payoff on your next payday $650.00
That is a pretty stiff charge to borrow $500.00 for two weeks, but so be it. (more…)