The financial planning industry could be forced into some major changes as a result of the government’s response to the financial crisis and the collapse of financial advice firms such as Opes Prime and Storm Financial. ASIC has recommended that the majority of remuneration practices currently used by the financial planning industry be abolished. This…
The old saying about ‘making hay while the sun shines’ applies as much to trading and actively investing in the markets as it does to making hay in the spring time for farmers or other life endeavours, hence the saying. Farmers know that each year in the spring time is the ideal time to make…
This is an extremely important question and one to which the majority of investors/ traders do not give sufficient thought. Successful traders understand with absolute clarity why they trade. Why you trade must be the subject matter of the mission statement in the trading plan you are going to write. Your purpose for trading is…
The ultimate goal for the trader and active investor is to reach the point where trading becomes automatic. At this level all trades are simply executed according to a plan and the rules of their system(s) have become internalised to the extent that they are adhered to flawlessly, consistently and objectively without hesitation or reservation.…
