Forex Boredom

Forex Boredom
A lot of people ask me "how many hours do you trade the
forex?" and my answer is that I generally trade every
trading day from the start of the London Open until the end
of the New York session and occasionally beyond.

At the weekend I usually carry out various forex studies
and I read various publications from other prominent
traders.

I do think that it is important to explain that although I
am trading for a lot of hours, this does not mean that I am
in an active trade for all of that time, in fact I am on
average in an active trade for very little of that time.

Many new and inexperienced traders seem to have the idea
that trading is about placing trades, and that the
watching and waiting is very boring. I suppose that this
is quite a natural assumption, but it is an assumption that
is quite incorrect.

The biggest part of trading ' and the hardest part for many
' is spent studying, planning, watching and waiting for
high probability trades.

I am often asked if I get bored just sitting in front of
the PC watching and waiting.

Do I ever get bored with forex? ' No, not bored -
Sometimes, however, I just am not in the mood for forex, so
at those rare times when I just do not want to think about
the forex ' I do something else. I don't agonise about
it, I just accept that there is no point in trying to think
forex when I am not in the mood to do so.

I love everything about forex trading. If I didn't, I would
do something else to earn a living, but I do not just sit
facing the PC screen, motionless, watching and waiting.

I study the charts, I look at what has happened, I look at
what is happening, I try to foresee what will happen and
why, I look at the inter- relationship between the
different currency pairs.

I study the fundamental side of the market a great deal. I
like to know why things happen.

I use all of the information that I study to make sure that
I am constantly aware of the ever changing facets of the
forex market and to ensure that my trading system is as up
to date as possible.

If you find that the only part of trading that you enjoy is
"being in a trade" or "closing a trade in profit", you may
well be in the wrong business.

To become highly successful in any field of endeavour, it
is essential to have a passion for the subject.

Does this mean that you will never be bored? ' No, but
being bored should be a rarity not the usual way you feel
about it.

The more that you love the whole subject of forex, the more
successful you will become.

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Martin Bottomley is a full time professional forex trader,
acknowledged author, forex tutor and co-developer of forex
trading software including The Amazing Stealth Forex
Trading system.
You will find more information at:
http://www.stealthforex.com

When Is It Time to Refinance?

When Is It Time to Refinance?
You've heard that interest rates are at an "all time low"
and you figure that's a good indication that you should
refinance your existing mortgage. You may be right, but
there are some things you need to consider before you
decide to start the refinance process.

The first thing you need to know is the interest rate on
your existing mortgage. Compare that with the interest rate
you can expect to get if you should refinance. If there's
not at least one and a half to two points difference,
you're probably not going to better yourself by seeking a
refinance loan. There are going to be closing costs
associated with refinancing, possibly including an
appraisal and fees for closing your existing loan early. If
your new interest rate is only marginally better, it will
take you a long time to recover the cost of taking out a
new loan.

Another thing to consider before you decide that it's time
to refinance is your future plans. If you plan to only stay
in the house another year or so, you're probably not going
to be better off with a new loan. If, for example, you
expect your job to require a move or you plan to sell your
house soon for the equity you've accrued, you won't likely
recoup the cost of closing a new loan.

Does this mean that there's never a time when refinancing
is a good option? Not at all. In fact, there are some times
when a refinance loan is an excellent financial move. Maybe
you took out your original loan when your credit score was
low and the only way you could get a loan was to accept a
high interest rate. That's sometimes the case with first
time buyers, but you might have increased your credit score
if you've made regular payments for a couple of years. In
that case, it could very well be time to refinance. You
could get a much better rate and find yourself building
equity much more quickly than with your current loan.

You could also be saddled with a less-than-ideal loan
because of poor credit or market conditions at the time you
took out your loan. If you are currently financed at a
variable interest rate, you may simply want the security of
knowing the exact amount your mortgage payments will be
each month. In those cases, it could be time to refinance.

----------------------------------------------------
Debbie Groves is the owner and operator of Mortgage
Refinancing People, Inc. which is a premier resource for
refinancing information. For more information, please visit
http://www.mortgagerefinancingpeople.com