How Paper Trading Options can prepare you for Success

It has long been said that in order to become an expert, you will first need 10,000 hours of practice. Though this number is obviously a rough estimate—and will vary tremendously depending on what you are doing—there is no doubt that practice is a very valuable thing.

In the world of trading, the need for practice is especially important. Without a strong familiarity with market mechanics, various financial assets, and technical indicators, you will quickly find yourself losing money. Even if you don’t have 10,000 hours to spend practicing and fine-tuning your trading strategies, making a conscious effort to familiarize yourself with the market in advance will pay off in the long-run.

trading strategy

Credits: AlphaBeta FX

In order to prepare for big trades and maximize their average rates of return, many traders will begin by trading in a simulated environment that allows them to experiment without actually risking any capital. Then, once they believe their trading strategies are ready, these strategies can be tested out on the actual market.

This form of practice trading is frequently referred to as “paper trading”. In this article, we will discuss the importance and meaning of paper trading, how to efficiently use your time as a paper trader, and how paper trading can be specifically applied to the options market. By taking the time to hone your trading skills in advance, you will put yourself in a position for success.

What is paper trading?

Paper trading is a term used to describe various methods of simulating a trading environment, without requiring traders to commit any actual money. There are multiple different uses of paper trading. Some individuals will trade on paper in order to familiarize themselves with trading as a whole. Others will use this technique to test different trading strategies.

The best paper trading systems will make it easy for traders to backtest their approach using the historical record. This way, instead of waiting for new data to emerge, traders can immediately see how a position would have fared if it had been entered into at a specific point in time.

For example, a paper trader might have a new swing trading strategy that wants to make sure is protected against the risks of a pending recession. While paper trading, they can “go back in time”, pretend to purchase shares of a specific stock in 2007 (following a swing), and see if that stock would have increased or decreased in value. This will signal to traders whether their strategy is moving in a productive direction or if they need to go back to the drawing board.

How can I get started paper trading?

There are many different paper trading platforms available for you to choose from. When comparing the paper trading options you have available, make sure that there is a sizable dataset available that allows for backtesting. Other features to look for while comparing include the use of live market data, the ability to test different price points (opening, closing, midday, etc.), the use of different financial assets (such as options), and the ability to hold positions of different sizes.

Most paper trading platforms are similar to one another, though it will still be worth your time to compare your options. We recommend using the platform Thinkorswim. ThinkorSwim has an innovative, free (for 60 days) platform that is easy to use and is incredibly flexible. The platform is supported by TD Ameritrade, allowing it to have access to the historical data it needs in order to be useful.

How can I effectively use the time I spend paper trading?

Because the window for free paper trading on platforms like Thinkorswim is usually limited, you will want to use your time as efficiently as possible. In order to develop an effective paper trading strategy, you will need to do a considerable amount of planning in advance.

  • Identify Potential Trading Constraints: things such as the marginal cost of trading, time constraints, and capital restrictions should all be identified in advance.
  • Choose a Few Favorite Technical Indicators: technical indicators are a crucial part of almost every trading strategy. When trading options, paying attention to the relative strength index, Bollinger Bands, and moving averages will be very important.
  • Open Realistic Positions: the purpose of paper trading is to prepare you for the real world. Though it can be tempting to be reckless when you’re not risking real money, opening realistic positions will help you develop a more productive skillset.
  • Back Test your Strategy in Multiple Scenarios: even if purchasing 10,000 shares of XYZ stock in 2002 would have been a good idea, that doesn’t necessarily mean your strategy is fool-proof. Testing your strategies in multiple settings can help you be more confident in your final approach.
trading strategy

Credits: stockmarkethacks.com

There are no substitutes for experience and education. The more time you can commit to paper trading, the more prepared you will be once it’s time to actually enter the market.

What are the nuances for paper trading options?

Options are contracts that allow you (but don’t require you) to purchase or sell an asset at a specific price at a specific point in the future. Options contracts typically move along with their underlying asset, though the options market itself is still unique in many ways.

The best paper trading platforms will make trading options as easy as trading stocks or any other financial assets. However, there are still quite a few nuances that need to be accounted for:

  • Options Markets are Inherently Volatile: options experience wider price swings than their underlying assets, resulting in higher risks and higher potential rewards.
  • Options can be used for Hedging: options can be used for limiting the potential downside of a position and are excellent risk-management tools.
  • Options come in Many Different Forms: call options, put options, hybrid options, and other options all cause this particular market to be inherently more complicated.

Options trading is generally more difficult than stock trading, meaning you may need to spend some extra time trading on paper. Don’t let FOMO deter you from getting the experience you need to be successful.

Conclusion

Just as you wouldn’t let a doctor, a pilot, or any other professional operate without any experience, traders require experience as well. Though there may not be a “trading school” like there are med schools and law schools, paper trading gives aspiring traders the experience they need. After testing your strategies on paper and making an effort to better understand markets, you will find yourself in a position to succeed.

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Exterior Business Signs

Types Of Exterior Business Signs

The importance of exterior signs in projection of your business cannot go unnoticed. It is this outdoor signs that impresses the audience and makes them interested in your business. If your business is having a well-designed exterior sign, then you can be sure of more traffic and return of investment. It is actually the small details that makes a business sign amazing and attractive but that is not the topic of discussion today. Our topic of discussion is the different types of outdoor signs that you can choose to help your company to stand out from your competitors.

Exterior Business Signs

  1. Dimensional and cover letters. When you walk past most storefronts you will notice that this is the most used design by the storefronts. You will find a storefront written Silvercare wholesalers but in a very cool way that is appealing to the eye. The letters are written in the dimensional way exactly how you want and you also have the freedom of choosing the most appropriate color for your sign. It can be one color or it can be a combination of colors. If you don’t mind the cost, LED light can be added to the name of your business to make sure that it is visible day and night and still more attractive.
  2. Illuminated signs. In the recent times, LED illuminated lights have taken over the market of illuminated signs but that does not neon lights signs does not have their place in the market of business signs. People prefer LED lights because they are cheaper to maintain and they use way much lower energy as compared to neon and fluorescent lights. The illuminated signs are a perfect way of ensuring that most of the passersby notices your business. The human eye is naturally attracted to bright and beautiful things so you can be sure an illuminated sign is going to increase your ROI.
  3. Pylon signs. This are big and tall signs that are installed with an aim of catching everyone’s attention from a distance. You can find such exterior signs being used by big hotels, gas stations and restaurants that are usually along the roads. The pylon signs are very effective for any kind of business to advertise to the local customers or even incoming visitors to a town. Let us be honest, how many times have you found your way into a hotel just because you read their pylon sign on the road? I believe it is several times. This type of signs are very convenient and more traffic is going to be driven towards your company which will ensure more return of investment.
  4. Monument signs. Monument signs are usually used by institutions such as churches, big businesses and educational institutes as a sign of an important person who was the first to do something positive and constructive to the institution. This signs are usually long lasting and they are very resistant to any harsh weather condition since they are mostly made of concrete.
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Climb Mount Kilimanjaro

The Best Time Of The Year To Climb Mount Kilimanjaro

The Kilimanjaro is regarded as the tallest mountain in the world and while there are tons of other facts about the mountain, climbing Kilimanjaro has become the greatest fantasy for so many people. While this is well said, it is to be noted that there are many people that have climbed the mountain and they have set a new history from time to time.

In another vein, it is to be noted that while so many people long to climb the Kilimanjaro, there are actually periods considered the best times to climb the Kilimanjaro and this is the reason for this article.

climb Mount Kilimanjaro

The best time of the year to climb Mount Kilimanjaro

The major reasons while the Mount Kilimanjaro has certain periods of the year when you can climb it is because there are times of the year that are considered as the coldest period of the year, and there are times when it could be snowy. While this is a known fact, there are two periods of the year which are characterized by two trekking periods which could be tagged as the best period for climbing the Kilimanjaro.

The trade wind and the way that the Kilimanjaro is designed is tagged as the way to best describe the climbing period of the year. The trade wind from the Indian Ocean, when it hits the Kilimanjaro in March every year, it forms clouds which makes it far condensed and the Mountain moves upward. During the period of March up until May, the weather of the Kilimanjaro is said to be wet and the propensity that the rain falls makes it a wet season on the Kilimanjaro and so a reason for the period not being the best time to climb the mountain.

In addition however, if you need to climb the mountain by the month of April or May, there are certain routes that you could take and to mention one which is best for this phase would be the Rongai route. This route is linked with the northern side of the Kilimanjaro and because it is a much drier zone, it is the best pick for which you could climb the mountain. The southern region during this phase is always cold and not in your best interest to climb it.

In another vein, the anti-trade wind which blows from the North eastern side of the mountain breezes strongly and they breeze from the month of April to the month of October. This makes this period the best time to climb the mountain because everything is warm during this period. It should also be noted that in the month of November, there is a bit of rain to the northern side of the mountain so it is not advisable to climb the mountain during this period, especially if you know that the northern region is your most preferred route.

The best times to climb the Kilimanjaro

There are two periods which are considered the best times to climb the mountain Kilimanjaro and they include the periods between January-March and also the periods between June-October.

While these two periods are the best periods to climb the mountain, it should be noted that the first region which is the first phase to climb the mountain is often regarded as the colder phase of the climb. It is possible during this period of time to encounter snow and so this doesn’t make it the best time of the year to climb the mountain. However, some people actually prefer this time of the year to climb the mountain because this is the quietest time of the year for people. If you are looking for a time of the year to climb the mountain and then you have to climb quietly with your friends, this is the best time to climb for you.

During the period of June to October, the trek is always congested with so many people around and the reason for this is not farfetched from the fact that it is the period of the year when people have their summer holidays. Because of this reason, so many of the routes that people know are always busy.

The period of March, April and also the month of November, are the wettest phases for the Kilimanjaro and this means that they are not the most ideal for trekking up on the mountain. In another vein, snowfalls and the cold weather are common within the period of December and May.

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How Online Internet Radio Can Contribute To Your Business

The radio as a mode of mass media has contributed to the success of a lot of businesses. It is common for businesses to create jingles, send to radio stations and pay for play time. Over time, as people listen to the station, they get to hear such jingles and patronize the businesses. Hence they are able to make sales and earn more profit. This article will discuss various ways that online internet radio such as CNN radio live streaming can contribute to your business.

Online Internet Radio

  1. Advertise to a Large Audience

Do you have an online store that people can make orders from every part of the world? Chances are that you will also want to advertise on the media that have a wide reach. Local radio and television stations without an Internet presence, as well as newspapers, mostly have a limited reach. However, adverts on online Internet radio will easily improve the audience you can reach with your products and services. Online radio stations can be listened to, by anybody with an Internet connection anywhere in the world. Putting your advert on a radio station that broadcasts to every single country in the world with large followership will be a huge boost to your new or existing business.

  1. New on the Go

Information is very important for everyone and that is why it is always emphasized that an individual must be informed. Once you have an online radio station that you love their scope of news and how they give the news, it will be easy to always listen to your favorite news on the station. Perhaps, you love to listen to their 12: 00-noon news because they cover both local and international news in details. You can thus, just switch on your phone or computer and connect to the station once it is 12:00 every day, irrespective of where you are. All you need is your gadget and Internet connection. Occasionally, there might be news that will provide an opportunity for your business. You might hear about an invitation from a private multinational or government organization to bid for a contract. You will be able to bid and you might get the project at the end. This would be a big boost to your business.

  1. Business Radio Stations

There are also a lot of online radio stations that concentrate on business news and information. They give business news about a particular country, internationally or a combination of both. Imagine you are looking forward to migrating to a new country or city. There will most likely not be a local radio station in your city that will concentrate on talking about that country. From the internet, you can easily search for a local radio station of that country or the particular city you are targeting with a presence online. By listening, you will get all the information you need to plan your strategy.

  1. Starting an Online Radio Station

If you have been thinking of starting a radio station, you can start an online radio station. Considering how easy it is to stream videos to the internet through some social media platform, you can be sure that there are websites that allow you to stream audios from your phone or other gadgets online just like that. You can easily start an online radio station but probably a different genre such as comedy, business, music or entertainment.

  1. Easy Switch Between Local and International Stations

If you are in a country, you might have an online or local radio that provides you with local news and then switch to CNN radio online streaming to listen to international news.

Conclusion

Generally, there are several ways your business can benefit from online Internet radio. Apart from the fact you can start your own online radio station, they can be instrumental in giving your company a global reach through an advert. General news and business information, both at the local and international level, could improve your techniques and strategy to boost your business.

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Cheap single entry visas for the US tourists in Vietnam – what you need to know?

The hike of the Vietnam visa costs for US citizens had sparked up a lot of rages. It has forced the Vietnamese government to restore the cheap rates of Vietnam visa for US citizens within a short period of time. This makes it an ideal nation for the ones in search of a cheap escape destination from their busy schedule – be it students, backpackers or any other resident in the US. The restoration of the cheap services has brought in a lot of praises among the visitors. And it not limited to the single entry options only. Rather it offers cheap service options for visas for 3 months, 6 months and 1 year as well.

visit vietnam

Types of visa options for US citizens planning to visit Vietnam

Vietnam allows multiple types of visa options for the citizens of the United States of America. It includes both single and multiple entry options as mentioned below.

  1. Single entry visa for one month – it allows the visitors from the US to enter Vietnam only once and is allowed to stay up to a period of one month.
  2. Multiple entry visa for one month – visitors from the US are allowed multiple entries to the nation with the period of one month
  3. Single entry visa for three months – allowing the visitors one-time entry to Vietnam and allowed to stay in the nation for 3 months at the max
  4. Multiple entry visa for three months – US citizens can enter and leave Vietnam multiple times during the period of 3 months
  5. Multiple entry visa for six months – permits the US citizens multiple entries to Vietnam and allows a maximum stay of 3 months during each entry or till the visa lasts
  6. Multiple entry visas for one year – it is same as the multiple entry visa for six months except that the US citizens are allowed multiple entries and exit to Vietnam for a period of one month. Similar to the previous options, a maximum stay of three months is allowed during each entry

Charges

The charges for processing the visa of US citizens are very cheap. These cheap rates make Vietnam an ideal option among the students, travelers, and businessmen from the US. The rates mentioned below include the fees for processing the visa as well as stamping the same. That means the visitors will not be required to pay any extra charges when they arrive in Vietnam.

  1. $80 for a single entry visa for a tenure of one month
  2. $135 for multiple entry visa for one month period
  3. $110 for single entry visas for three months
  4. $160 for multiple entry visas valid for three months
  5. $180 for multiple entry visas functional for six months
  6. $220 for visas permitting multiple entries to Vietnam lasting for a year. The San Francisco Consulate office is known to charge $215 for the same process thought the reasons for the reduced charges are not known.

If you are planning to get your visa upon arrival in Vietnam, then it is necessary for you to know that the stamping charges can vary anywhere within the range of $25 to $135 depending upon the type and tenure of the visa.

Documents required

Similar to any other procedural visa application, the US citizens need to present the following documents to avail a tourist visa for a Vietnam tour:

  • Application form for the tourist visa in Vietnam
  • A couple of 2 X 2-inch passport size photos although a single one may be sufficient
  • Money order or a cashier’s check payable and the Vietnam embassy as the fees of processing the visa. A combined money order/check can serve the purpose for multiple applicants who are applying together.
  • Pre-paid stamped envelope carrying self-address to be sent to the Vietnam Embassy. This will be used to return the documents of the visitors. Apart from DHL, visitors can choose any of the tracked mail service providers including UPS, FedEx, and USPS.
  • The original passport for the visa stamping process. If you are applying for visa stamp on loose leaf, you may provide a colored copy of the page of the passport. The validity of both the options is equal.

Time for processing the visa applications of US citizens

Vietnam visa services are available in multiple speed options depending upon the requirement of the visitors. Those include:

  1. Normal service option and it takes up to a couple of working days to get done with the processing
  2. Urgent service option that provides the visa facilities within one working day
  3. Super Urgent service that allows visa processing within one to four working hours
  4. Services in non-working hours. It includes any time of Saturday, holiday or the regular day after Vietnamese time of 4 pm. The service is not available during night time

Where to apply for a visa?

Vietnam visa for US citizens can be applied in multiple ways. One can apply for it upon arrival in Vietnam or just apply for it beforehand before boarding. The option of e-visas is also applicable. Apart from this, the US citizens are also allowed to apply for their visas at the Vietnam Embassy located in the state of Washington DC. They can also apply for the visa at any one of the other Vietnam Consulate Offices in the nation. San Francisco, New York, and Houston host the consulate offices. You can check out their websites to know more about the process.

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