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TOKYO - Toyota Motor Corp plans to install solar panels on its next-generation Prius hybrid cars, becoming the first major automaker to use solar power for a vehicle, the Nikkei business daily reported on Monday.

Lance Beggs

Well, I’ve had a frustrating week. No opportunity to trade until Friday, and no opportunity to work on my website and newsletter service. NOT HAPPY!!!

 

But then, that happens to us all from time to time. Life has a habit of failing to consult with us, prior to messing with our plans.

 

What happened? Well, before I was trading I used to work as a pilot, with a specialty in aviation safety. I’ve maintained a link to that industry, and still do some work on a part-time basis. Usually it’s not a big deal at all, and I can fit it in around my life. Sometimes though, a bit of a crisis happens (safety’s like that!) and I’ve got to travel away, and well… my plans just don’t matter anymore.

 

Yeah, I know. I’ve got no-one to blame but myself. After all, I choose to do this. And this probably has no relevance to your life. So let me get to the point – how does this story relate to the title of this article – ‘Trading Timeframe Selection’.

 

Ok, those of you who have been around my website for a while know that day-trading is my thing. I like the short timeframes. Anything more than 5 minutes is way too long for me. Why is that? Well, several reasons really:

1. More action.

2. Tighter stops (I hate large losses).

3. Psychologically, I’m a bit of a control freak – I like to monitor a trade from start to finish.

4. I can sit in cash when I’m not trading, so it’s no problem if I get called away and can’t trade for a day or two.

Really, it’s all psychology!

 

I used to trade daily charts several years ago, and really hated the ‘surprise’ each day when I woke up to see what the US market had done to my position overnight. Now, when I’m trading, I can manage the trade closely. And when I’m not trading, I’m out of the markets. Simple!

 

Day-trading is just a perfect fit for my psychology. And it just happens to fit my lifestyle as well, because if I have to go away quickly I’m not leaving open trades in the markets.

 

For some crazy reason, about six weeks ago, I decided that I should look into trading daily charts again because that would give me more time to work on the trading education website & newsletter. I decided to trade options on equities, which would allow me to place defined-risk trades and profit from theta decay. Great plan! So I set about simulation trading for a couple of months, just to be sure it would work for me. Well, everything went fine until this week.

 

Suddenly, I couldn’t monitor my trades. I’m left in the market with an overall delta positive portfolio, and no access to a computer to adjust the trades, and the Dow drops 358 points. Not a big deal really, as it’s simulation. The position had been in profit, and is only sitting on a slight loss now, so with three more weeks till expiry there’s still a great chance to work my way out of trouble. Of course, had it been live I would have phoned my broker and closed out all positions.

 

But here’s the real lesson for me:

 

1. Daily charts do not match my lifestyle,

2. Daily charts do not match my psychology, and

3. Daily charts do not match my risk tolerance.

 

I wasn’t comfortable holding positions overnight when I couldn’t monitor them. And the whole ‘speed’ (or lack of speed) of the game frustrated me. Could I get used to it? Absolutely! But why bother when I’ve already found my niche. I’m a day-trader. Why try to change?

 

So, what’s your perfect timeframe?

 

The only way to find out is to try the different alternatives. These days you can get a demo or simulation platform for almost every market, and timeframe. So there’s no excuse for not trying the different timeframes to find the one that fits your psychology like a glove.

 

Try the short timeframes for a couple of weeks. Try the intermediate timeframes for a month or so, say the 1 or 4 hour charts. Try the daily charts for a couple of months. While you’re at it, try the weekly charts.

 

What you’re first attracted to is not necessarily the right fit for your psychology or lifestyle. When I first got into trading I traded the weekly charts on stocks. This changed quickly to daily charts. And then over several years it progressively got shorter and shorter. Maybe day-trading would not have suited me back then, but the thing is, I never even thought to try anything else. Had I done so, I might have saved myself years of ‘daily chart’ pain.

 

So what are you waiting for? Test your timeframes, and find the right one for you – the timeframe that matches both your lifestyle and your trading psychology.

 

Happy trading,

 

Lance Beggs

 

© Copyright 2008. Lance Beggs. All Rights Reserved.

Would you like to learn more about how I trade the forex and equity index markets? Check out the articles, videos and trading resources on my website right now at www.YourTradingCoach.com

Scott Phelps

We’ve all been asked what we would do if money were no object to achieving our goals or acquiring a desired item. I suppose in one sense this would seem a perfect solution. No one has money and everything is free.

Can you imagine wanting a new luxury car and simply walking to a dealership (or to a grocery store parking lot) and simply driving off with it because you wanted it.

Why would anyone want to cook or serve you at a restaurant? There would be no tangible reason to do so. There is no means of motivating someone to stay in a position without pay.

Perhaps you could get someone to enforce a certain amount of work, but the prime motivator for enforcement just isn’t there without a means of reward.

Some people perceive money as evil, but the truth of the matter is money is a basic form of exchange that allows you to encourage a plumber to fix your pipes, a builder to build your home and a craftsman to build a treasured heirloom. Money has a way of expanding options, which is why so many people would like a little more of the stuff.

When asked what you would do if money weren’t an object is to invite you to dream a little bit about what may seem impossible in the present, but it does little to actually get you to the end result – the acquisition of a product or the fulfillment of that dream.

Money is the medium of possibility. This form of exchange is moldable so that the one possessing the money has the greatest flexibility in ultimate use. They can choose to save the money for larger purchases, set some money aside for educational pursuits or they can use it to pay off existing debt.

Individuals who want the best possibility in achieving real dreams and not the stuff of fantasy simmer moneymaking ideas on the hotplate of thought.

There can come a point where money is an all-consuming passion, but money has always been the primary exchange when ownership of something is transferred to another. This could the transfer of a product, a service or even knowledge.

You should not feel badly about pursuing a dream that involves the acquisition of wealth. It is money that is used to make lives better. It is simply a tool. You can use that money to improve your own life of the lives of those around you.

Moneymaking ideas are often considered because they hold the promise of a better life. Sure, we say it holds the promise of money, but the truth is those most interested are ultimately concerned with how their lives could improve from the successful launch of one of these ideas.

Money is an object and there is a reason why so many are in pursuit of it. That reason does not have to be greed, but it does center on making the lives each of us are given a bit better. It can also serve as a means of extending our success to others who are also looking for an existence that is better than what they may currently be experiencing. This can come in the form of job creation or knowledge enhancement.

Our goals and aspirations are improved with positive cash flow. It is for that reason moneymaking ideas will continue to be at the forefront of a society built on the pursuit of capitalism.

Learn to Make Money Online, How To Make Money, and Make Money From Home at MakeMoneyFacts.

NEW YORK (AP) — NBC Universal and two partners has said Sunday they have reached a deal to purchase The Weather Channel from Landmark Communications Inc., ending a drawn-out process that had attracted interest from several major media companies….

NEW YORK (AP) — NBC Universal and two partners has said Sunday they have reached a deal to purchase The Weather Channel from Landmark Communications Inc., ending a drawn-out process that had attracted interest from several major media companies….

NEW YORK (AP) — NBC Universal and two partners has said Sunday they have reached a deal to purchase The Weather Channel from Landmark Communications Inc., ending a drawn-out process that had attracted interest from several major media companies….

NEW YORK (AP) — NBC Universal and two partners has said Sunday they have reached a deal to purchase The Weather Channel from Landmark Communications Inc., ending a drawn-out process that had attracted interest from several major media companies….

Jim Vrana

Overwhelming credit card debt is a very common problem for many American consumers. Too many people just continue to pay their monthly minimum payments without any knowledge that their debt burden may never go away.

When a person comes to the realization that they are caught in an endless cycle of debt, they may then admit that help is needed. What people may not know is what kind of help is available, and how to find it.

Understanding all of the options to relieve themselves of debt can be very confusing. Choosing the best plan of action can also add the stress caused by the debt in the first place.

One option is debt management. A debt management company will attempt to work with your creditors to lower the interest rates and waive any fees, such as over-the-limit fees and late fees. Please notice the words “attempt to”. There is no guarantee that the creditor will agree to lower the interest rate or waive any fees. Interest rates may actually increase when a credit card company is informed of a financial hardship.

With a debt management program, your budget will be analyzed to determine how much money per month you can part with to pay down these debts, and initiate a plan to make regular payments to your creditor for a specific dollar amount. Once your creditor sees a pattern of regular payments reducing the principal balance, they may agree to lower the interest rates even further.

For a debt management program to be effective, the debt should be paid off within five years. You must be able to continue to make the regularly scheduled payments. Keep in mind that interest will continue to accrue, so your payments are not all being applied to the principal balance. Part of the payments will continue to be applied to interest, as well as any monthly fee charged by the management company.

The debt management company should provide you with an amortization schedule, showing the amount of principal and interest you will be paying each month, month after month. With this schedule, you will be able to see exactly the amount of time it will take to be debt free under the payment plan. Even this schedule can change due to adjusting interest rates, missed payments, or extra payments. If the management company cannot provide an amortization schedule, perhaps you should look for a different debt management company.

If you cannot work out a plan to have the debt paid off within five years, a debt management program may not be right for you. One option to consider is a debt elimination program.

A debt elimination program will allow a person to legally walk away from 100% of their non-secured credit card debt, without bankruptcy, consolidation, or refinancing. A person can take advantage of this program just once. It’s kind of a financial “do-over”.

With a debt elimination program, a person can select which cards to eliminate, and which ones to keep. The eliminated cards can no longer be used. The ultimate goal is to learn how to live without credit cards altogether.

An elimination program does not perform its function overnight. A good program will have you debt-free in 6 – 12 months. It will also include an education on the credit card system, so that it is understood just how and why an elimination program can work.

Student loans, medical bills, and any secured loans do not apply to a debt elimination program. Only major credit cards, signature loans, and unsecured lines-of-credit are applicable. For these types of debts, a true elimination program may be the financial re-start people are looking for.

Billed as The True Debt Advisor, Jim Vrana’s mission is to educate and empower people to overcome their financial challenges. The time-tested legal procedures used to eliminate credit card debt have been used by thousands of people with tremendous success. Contact: Jim Vrana True Debt Advisor (800) 637-1785 http://www.TrueDebtAdvisor.com