Step-by Step Guide on How to Trade Forex by Forex Expert Carmelo Cerrelli

Trading Forex, on the currency market, can be a exciting hobby as well as a great source of investment income.

Here is a step-by-step guide by Forex expert Carmelo Cerrelli, that will help you learn to trade Forex, so make sure you follow the steps mentioned below in this guide in order to start trading in this huge and lucrative industry.

Step 1: Learning Forex Trading Basics

• Understanding the basic Forex terminology is imperative before you start trading.

Base Currency is the type of currency you are going to spend.

Quote Currency is the type of currency you going to purchase.

• Forex trading simply refers to selling of one type of currency in exchange to purchase another type of currency.
• It’s imperative to read a Forex quote which has two numbers:

The bid price on the left

The ask price on the right

• You must carefully decide what currency you want to buy and sell.
• Learning how to calculate profits is very important.

Step 2: Opening an online Forex brokerage account

• It’s imperative to research different brokerages in order to choose someone with vast experience in this industry or someone who has been in the Forex trading industry for 10 plus years, as the experience signifies that the company has the required experience, also knows how to take care of its clients.
• You must always remember to request information about how to open an account. Online Forex account opening will give you two options:

In a personal account you can execute your own trades.

In a managed account a broker will execute trades on your behalf or for you.

• It’s imperative to fill out the proper paperwork. There are two ways you can ask for the paperwork: by mail or simply by downloading it in the form of a PDF file.
• Now at this step you can simply activate your account. Your broker will email you the link to activate your account, in order to get started with trading.

Step 3: Focuses on Trading

• You must always analyze the market thoroughly.
• It’s imperative to determine your margin, which should depend on your broker's policies.
• Now at this step you can simply place your order.
• It’s imperative to watch your profit and loss in addition to not getting too emotional, simply because the Forex market is very volatile and you will see a lot of ups and downs.
• What matters in the end is that you must continue doing your research and stick with your trading strategy. Sooner or later, you will see profits.

Important Forex Factors From Forex Professional Carmelo Cerrelli

Here are important Forex Factors from Forex professional Carmelo Cerrelli:

Primary Factors

• Growth - Changes in the country’s Gross Domestic Product or GDP that gives a useful measure of growth. A growing economy tends to strengthen a currency.
• Rates - Short term interest rates affect Forex rates.
• Trade - The country's trade and current account balance can have an impact on Forex rates.
• Economy - The general economic outlook for one country in relation to that of the other country can affect Forex rates.

Economic Factors

• Interest Rates - A key element in evaluating one currency against another. If interest rates are increased, the currency of the country becomes more attractive against other currencies offering lower interest rates.
• Inflation
• Trade or Currency Account Balance - A trade or current account surplus or deficit will either favor the currency rate for the country with a surplus or weaken the rate for the country with a trade deficit.
• Credit - Another economic factor that will influence exchange rates directly. If a country has borrowed excessively large sums of money from other nations or from the IMF, its currency will surely reflect the serious level of debt the country is in.
• Gross Domestic Product (GDP) - Represents the total of goods and services a country produces and reflects the level of growth in the economy.
• Commodity Prices can also affect exchange rates.
• Employment Data - If a country has an increasing percentage of its citizens employed that will tend to strengthen its currency.
• Industrial Production - A strong industrial base will tend to strengthen a nation's currency.
• Retail Sales - A strong retail sales figure is generally favorable for a currency and the country's overall economy.
• Consumer Price Index (CPI) - A measure of inflation.

Other Important Factors

• Supply and Demand Effects - Substantial flows of capital into one currency and out of another currency, can shift the exchange rate for the currency pair to favor whichever currency sees the higher demand.

• Monetary Policy - Because of the effect of monetary policy on interest rates, this makes up an important element in the valuation of a currency.
• Political Influences – It’s widley known that the countries with stable governments tend to have their currencies favored more over those countries with unstable goverments or countries having less favorable political situations.
• Commodity Price - The prices of key commodities like gold and oil tend to affect the valuation of the currencies of their primary exporters and importers.

According to Forex professional Carmelo Cerrelli, it’s imperative to have the knowledge of the above mentioned Forex Factors.

The Core Benefits of Trading Forex by Forex Professional Carmelo Cerrelli

The Forex or currency market is a market in which currencies are traded and it is the largest and most liquid market in the world with an average traded value that exceeds $5 trillion per day. The Forex market includes all of the currencies in the world.

According to forex professional Carmelo Cerrelli, there are many benefits of trading Forex.

Market Size

The Forex market is the largest financial market in the world.

Ease of Entry

You can get started in the currency market with a small account as well. You don’t need tons of money to start making great returns on your investments, also anyone can take advantage of the benefits of the currency market.

Profit Potential

The currency market has plenty of profit potential. You can make money in the currency market whether currencies are going up or down.

24 Hour Market

Forex trading operates 24 hours a day, five days a week. Since the Forex market is worldwide, you can trade Forex as long as there is a market open somewhere in the world.

High Liquidity

Due to the substantial size of Forex market, it is also extremely liquid. Liquidity is the ability of an asset to be converted into cash quickly and without any price discount. In Forex, liquidity is high which means you can move large amounts of money into and out of foreign currency with minimal price movement.

Low Transaction Cost

In Forex, typically the cost for a transaction is built into the price. It is called the spread, which is the difference between the buying and selling price.

Increased Leverage

Forex brokers allow traders to trade the market using leverage, which is the ability to trade more money on the currency market than what is actually in the trader’s account. It gives the trader the ability to make nice profits while at the same time keeping the risk capital to a minimum.

Profit Potential

In Forex, there is no restrictions for directional trading, this means if you think a currency pair is going to increase in value you can buy it or go long. In the same way, if you think a currency pair could decrease in value you can sell it or go short.

Can be Your Side Earning

Forex trading can be done personally on brokers and this can be your side earning source.

No Commissions

When you trade currencies, you never have to pay a sales commission.

Tips For Startup Success

Do you have a great idea for your startup or business, but don’t know where to start?

Here are a few expert tips to get you started in the right direction from seasoned entrepreneur Carmelo Cerrelli:

• The first step toward starting a business is have a blueprint of a successful plan, as most successful businesses take the time to make sure they have a blueprint of a plan which is going to a success. A blueprint will help you go into the right direction, with that you will definitely be more successful. Once you have a blueprint of your plan, you must follow it wisely.
• You must not try to do everything yourself, as a wise business owner knows that they can’t do everything alone. Even if you have a small budget to start with you must take help of a virtual assistant or possibly volunteers or mentors. Make sure you get more on board who have experience that can help you in your business.
• You must know your audience and also why they would be interested in your products or services. The questions you must ask yourself are: who are you trying to reach? who needs your product or information? Inorder to get the answer for those questions you should take the time to do market research and list out who you are selling to and where you can find them both online and offline. As this will help you when you will be creating your product or service. Also, it’s important that you keep in touch with your audience and know how they feel. You can easily do that by creating surveys in order to find out valuable information about what your audience really thinks.
• You must be clear on your rates with not only your potential clients, but you must know for yourself what you need to earn. Infact be brutally honest with yourself about how much you need to earn to keep your business afloat. In order to set realistic goals, you must figure out how to make that happen. Always remember when you are setting your rates that you are selling the value of your services or products and not necessarily the service or product itself.
• Keep in mind that no matter what kind of startup or business you are launching, getting your message to mobile customers is more important than ever nowadays.

Conclusion

According to seasoned entrepreneur Carmelo Cerrelli, starting a startup or business isn’t easy, especially in the beginning because there will be long hours along woth tough critics and disappointments that can’t be prepared for.

Always remember that the entrepreneur’s who works through the tough times is the one who succeeds in the end. There will always be people who tell you that something is impossible, don’t listen to such people because you must always remember that nothing is impossible.

Make sure you follow these expert tips in order to ensure that your startup or business lasts and thrives.

General Gold Trading Tips by Gold Tradng Expert Carmelo Cerrelli

If you are a novice trader and you are interested in investing in gold, here are some general tips by gold trading expert Carmelo Cerrelli, that can help you on your way to a successful gold venture.

• Make sure you buy when gold prices are reasonably low, but certainly not wait until gold prices are the lowest, simply because this is a common mistake which many investors both new and experienced at investing gold make. Always remember that if you will wait too long, you will definitely be missing the perfect opportunity to buy gold before it starts to rise again. Instead you should simply aim to buy it when it’s reasonably low as it will give you more opportunities for better returns on your investment. Also make sure you buy gold when you need it, as it’s an investment that expands your overall wealth and is certainly not affected in any negative way by economic conditions and risks.
• If you are just starting out in gold investing, then you must start out with either a gold coins investment or a gold bars investment. Gold coins are very light and are very easy to transport, as well as easy to store and ship. Even though gold bars in general are the cheapest way to purchase gold, but this metal may be more difficult to transport as well as store and ship, simply because gold bars normally weigh more than coins and are also bulkier and much bigger in size. These two investing methods are simpler and easier to understand and are perfect for beginner investors in the gold market.
• As a novice trader try to avoid gold futures. Always remember that gold mining shares are even though less complicated but they are still risky, as they have nothing to do with the price of gold itself. So if gold prices go up, this simply does not mean that gold mining shares will also rise, so it’s better to leave these to the experienced investor.
• Your investment portfolio must be well balanced, as it’s important that you diversify your investment portfolio; so if one investment do not perform well, you have other options which will help you in making money. A reputable gold broker will help you select the right gold product mix and will also make sure you are paying the right prices. So for example: if you invest in gold stocks with 20% of your portfolio, perhaps 25% in gold coins and gold bars, 30% in spot gold trading and the rest in cash liquidity, which will give you higher returns on your investment. Also add more capital to your investment portfolio slowly as that’s how you will make money from money.

Conclusion

According to gold trading expert Carmelo Cerrelli, if you are looking to invest and buy gold for short or long term, the above gold trading tips will be a very valuable guide for you.

General Forex Trading Tips From Forex Expert Carmelo Cerrelli

Trading forex is a relatively straightforward endeavor that simply involves exchanging one currency for another.

Here are some general tips from forex expert Carmelo Cerrelli, on how to avoid typical pitfalls and start making more money in your forex trading.

• We all know that knowledge is power, so before starting out trading forex online, it is essential that you must understand the basics of this market, that is if you want to make the most of your investments. Also confidence comes from successful trading. It’s logical enough to fathom that if you lose money early in your trading career it’s very difficult to regain it, but the trick is to learn the basics of this business before you trade.
• You must have a trading strategy, as it will be your map for how you plan to make money. Your trading strategy outlines the approach you are going to take, also which currencies you are going to trade and how you will manage your risk. Without a trading strategy you may become a trader that loses his money. You must stick to your well thought-out trading stratrgy, when you start to make money in order to invest profits on the next trade that is going to matche with your long-term goals.
• You must focus on your current positions and place reasonable stop losses at the time you do the trade.
• If you are new to forex, you will either decide to trade your own money or to have a broker trade it for you. You must seek advice from many sources also read blogs and discussions around the net to get an unbiased opinion before you choose your broker, as a lot of forex brokers are in business only to make money from your trades.
• One of the biggest advantages in trading forex is margin trading as it allows you to trade larger amounts than the total of your deposits. On the other hand it can also be perilous for beginner traders as it can charm to the greed factor that eventually destroys many forex traders. The best advice I can give noive tradrers is to increase your leverage with your experience and success in this business.
• You must trade on the news, as most of the really big market moves occur around news time. When trading volume is high and the moves are substantial, well this means there is no better time to trade than when news is released.
• Always remember that the market often behaves illogically, so make sure you don’t get commit to any one trade becuase it's just a trade and one good trade will not make you a trading success. Trading is an ongoing regular performance over months and years that makes a good trader.

Conclusion

According to forex expert Carmelo Cerrelli, while forex trading is relatively easy, but developing the required skills along with the discipline is necessary to trade currencies in order to show consistent profits over time

What Are The Steps to Create A Marketing Plan? From Marketing Expert Carmelo Cerrelli

According to marketing expert Carmelo Cerrelli, a marketing plan is a part of an overall business plan.

Here are some important steps you must follow from marketing expert Carmelo Cerrelli, that will help you in developing your marketing plans:

• The Executive Summary

The executive summary is a high-level summary of the marketing plan as a whole.

• The Challenge

The Challenge provides a brief description of the products or product lines that your company offers. With each product description, include goals that you want to set for each product or product line.

• Situation Analysis

Situation analysis contains a snapshot of your company, including your customer base, and your market position. Situation analysis should be divided into six sub-sections:

ü  Company Analysis

Long and Short-Term Company-wide goals

The focus of your company (comes under your mission and vision statements)

Culture of your company

Strengths of your company

Weaknesses of your company

Your company’s estimated market share

ü  Customer Analysis

Estimate size of your customer base

Key Demographics (age, social class, gender) of your customer base Value drivers

ü  Competitor Analysis

Market Position

Strengths

Weaknesses

Market shares

ü  Collaborators

Joint ventures, suppliers, subsidiaries, distributors, , etc.

ü  Climate: “PEST” Analysis

Political and legal environment

Economic environment.

Social and cultural environment.

Technological environment

ü  SWOT Analysis

Internal strengths of your company

Internal weaknesses of your company

External opportunities you can avail for your company

External threats to your company from competitors

• Market Segmentation

Each market has its own different segments. You should have the understanding of all the relevant segments for your products in your market, as they will allow you to adjust your marketing mix that is the Four P’s, to better adapt to the different needs of each segment.

• Alternative Marketing Strategies

Alternative marketing strategies is about the details of any alternatives that you and your team considered before arriving at your current strategy. These should include: changing the price of a product or product line or eliminating a particular product or product line etc.

• Selected Marketing Strategy

In selected marketing strategy you have to explain the strategy that you and your team have developed and have mutually agreed upon. Explain why did you choose this strategy? Also why do you feel that it’s the best possible strategy for the near future? Once that’s done,now put your Four P’s down for each product. Each product should have its own Four P’syou can follow the format below:

ü  Product

ü  Price

ü  Place (Distribution)

ü  Promotion

• Short and Long-Term Projections

Short and long-term projections is about forecasts of revenues and expenses, also your break-even analysis as well as any changes or adjustments that you predict you will need to make in the future.

Conclusion

According to marketing expert Carmelo Cerrelli, a marketing plan without a sound strategic foundation is of little use. So always remember a solid marketing strategy is the foundation of a well-written marketing plan.