How To Win At Gap Trading

What is the best way to describe day trading? It’s a living. Yes, you can make lots of money and get to a state of financial freedom, but it takes work and education. You need to familiarize yourself with the strategies and techniques of seasoned traders so you can try to replicate their returns. The key work there is “try.” I am not guaranteeing that you will get the same returns. But the opportunity is there.

That what Warrior Trading can give you. A chance to learn how to day trade and get out of the cubicle farm once and for all. For your initial lesson, head over to Warrior Trading to understand the nuances of gap trading and how trading gappers can be a critical strategy to internalize and add to your day trading tool box.

Gap Stocks

What is a gap stock? It is a stock that making an unusual morning move the day after it closes. At Warrior Trading, they hunt for gappers of more than 4% and prep to make trades on them,

Gap And Go

The gap and go strategy is pretty simple. Identify gappers above that 4% threshold, look around for the catalyst (an earnings report, some big news about the company), get ready to buy the pre-market highs once the market opens and as soon as the bell rings, buy the one minute opening range breakout and included a stop at the low part of the breakout.

Is that really simple? No, not really. But by working with Warrior Traders program, you can learn the lingo and the rhythms of day trading so trading gap stocks can become like second nature.

One of the key points is to confirm the catalyst for the gap. See what news is out there that might make analysts and market makers ID this stock as a gapper. If you can’t find the news from a credible source, stay the heck away.

Discipline is an important part of day trading. It is no different when you get into a momentum strategy like trading gappers. You need to be able to spot the right ones and stay away from the losers.

The gap and go strategy is very much like the momentum strategy, except it is centered on trading stocks between 9:30 and 10 am. Quick and easy trades right as the market opens.

There are lots of tools that can help you identify these stocks and start gapping up right away. Warrior Trading will introduce you to those tools. But only when you are ready. A tool is just a tool. The trader needs the correct preparation and education to make those tools work to a real advantage in the market. Check out Warrior Trading on Twitter and let them show you how.

What are the pricing and fees of applying for an EIN?

So you have heard about this thing called an EIN, and are ready to get started and fill out the IRS EIN application. Doing so will help you file your taxes quickly and accurately, open up a business bank account, and finish a host of other legal and professional tasks. Before you get started on that application for an EIN, however, there are a few things you should keep in mind. You will want to make sure that you can afford the application fee, for example.

EIN Application Fee

Like all things in life, an EIN is not free. You might be somewhat surprised by this, but really, don’t you end up paying for just about everything in life? The EIN is no different. When you fill out an IRS EIN application, you will need to pay $175. This application fee is the same for all EIN and tax ID requirements. For that price, you are receiving a simplified and more fool proof system as well as an expedited delivery of your EIN – often on the same business day!

Apply for your EIN Today

Are you ready to fill out your IRS EIN application online? Visit today and see how they can help. Their simplified application system has made the process of filling out an application for an EIN form a snap. Take a look at their website today!

What Would The World Look Like Without Online Trading?

In a world where everything has been consolidated into a global village, it has become difficult to survive in international trade deals without the knowledge of online trading. Technology is driving the world fast. Each day a new innovation is launched into digital space, a trend that keeps the demand for online knowledge vibrant.

Without online trade, we would have very limited access to foreign markets which would in turn deprive us of our freedom of choice of products or services that we want.

Traditional trade by use of paper money only applies to local markets especially in third world countries where the cost of internet is high as well as the knowledge about online trade. Business people in such countries are wary of online security threats and are afraid to trade on a platform they have little trust with.

Another factor that keeps online transactions low in developing countries is the levels of income. With most of the populations living below the poverty line, you don’t expect them to own a smartphone, a PC, a tablet or a laptop for transacting online and accessing a wider market that guarantees quality products and services.

Without online trading, this would be the scenario:

  1. Few opportunities
  2. A small market
  3. Reduced quality and quantity
  4. Much paper work
  5. Weak on no economic blocs
  6. Lower global per capita income
  7. Time wastage
  8. Low trade volumes

Few opportunities

There would be less options of generating income. This is because the traditional ways of amassing wealth would be congested leaving only a few one up for competition. Joblessness would be a cliché in world economy. Chances of getting something to do for a pay would be too low. Nowadays people offers so many service on the internet for a fee. They sell goods for a profit. All that would be a dream.

Small market

Small markets translate to high demand and low supply making prices of goods and services skyrocket unnecessarily. This would economically hurt many people who are used to alternative buying on online platforms, especially e-commerce.

Reduced quality and quantity

Quality only comes with competition. Most firms would be monopolies without online business which offers serious completion of the price and quality of products and services. Variety would be so low and unable to meet the demand for new products. Buying in bulk would not exist because rationing is brought about by scarcity of goods.

Much paperwork

Most transactions would be done on paper, a process that is boring and tedious. Nowadays we have digital stamps and signatures that save us the effort of printing this and that for a transaction to be accomplished.

Weak or no economic blocs

Economic blocs thrive on the policy of free trade and movement. The cost of moving to another country to make purchases is usually high, since it is mostly through air transport. Online trading strengthens these blocs because one can buy goods at the comfort of her office saving transport costs. Without it, one would incur expenses on top of the price of the products he is buying from another country. Economic blocs would thus be weak posing for low economic power.

Lower global per capital income

The world would be poorer for sure. So many transactions are done over the internet daily. If they never existed, more people would live below the global poverty line. Live would be a bit more difficult due to reduced cash flow in world economy due to unemployment. Global online business like spread betting, forex and a Contract for difference (CFDs).

As a result, dependency levels would rise, leaving less money for better lives. The only available money would be that of satisfying basic human wants.

Time wastage

Loss of time means loss of business. Without online trade, bureaucracies would thrive. A business registration that takes one day through the internet would take several weeks. This is due to the presence of middle men who delay the process and ask you for a fee if you want it faster. Going out to shop wastes so much time compared to buying products online.

Low trade volumes

Because the online market would not exist, dealers and business people would record a significant drop in sales turnovers. This leads to reduced profits sometimes leading to closure of business. Online trading makes trade flexible.

This means life on planet Earth would be hard to bear resulting to higher levels of crime incidences and prevalence. There would be no security along streets in cities and even in remote areas as many people would look for shortcuts to make life bearable.

Stop Wasting Money at CVS Right Now

There is a CVS drugstore a block away from my house, so it is convenient when you need an item or two stopping on the way home from work, but I consistently see people doing their shopping there, as if they have great deals, or they are completely unaware of how much money they are wasting.  Not only is it a rip-off, but if you have ever tried standing in line it always seems to take forever to get through.  I am not sure if it is their slow system causing delays, or if since it is typically a place where senior citizens frequent, or the fact that there always seems to be one cashier working for the lineup of people, I always seem to lose my patience waiting in line.  My wife just stopped at CVS to pick up cold medicine and ended up spending $50 on medicine and cards, so this fueled the fire a little more.

The pharmacy is the main feature of the store, so if you are getting prescriptions filled, I have had better luck on prices at other stores such as Kroger, Target, or even direct at the hospital’s pharmacy.  My biggest gripe is the cost of items in the rest of the store.  All of their food is ridiculously overpriced.  Not that I would expect to go grocery shopping there, but they do have a large amount of items, so if you are in the store and need items you could be tempted, but it is not worth it.  Any personal care item is high, such as shampoos, deodorants, and paper towels.  If you are looking to pick up medicine, you can expect to pay inflated prices, as items are rarely on sale, unless you have a CVS rewards card, which still does not make much of a difference.

With stores such as Target and Kroger as prominent in the area as they are it is amazing that stores such as CVS and Walgreens are still in business.  I am not promoting pushing the “little guy” out, which is why I do not even mention Walmart.  You can find all items you need at Target and Kroger, it has its own pharmacy, and I promise you will come out of there spending far less money than you would if you purchased the same items at CVS.

Saving money, even a little each time you shop, will incrementally add up over the years.

Ways To Dwindle Down Your Debt

Debt is something that plagues many people and it is quite difficult to get out of debt. There are some tricks that help you reduce your debt that you can use though. Not all people are aware of these tricks so they just fall deeper and deeper into debt. Some tweaks in your lifestyle might not be the most comfortable but being is debt is much worse. The following are some ways you can save money and pay off your debt more efficiently.

When you have to spend money make sure you check out sites like Groupon that have stores like Office Depot if you are shopping for school supplies. Always checking these sites is important as there are new deals every single day. If you are in debt and absolutely need to buy something make sure you can get the item at the lowest cost possible. Stores often advertise sales on their mailing lists as well so signing up for these might be beneficial.

Getting rid of your cable might seem awful but having internet gives you the ability to use Netflix and other streaming providers. Cable TV is extremely important and most homes are hooked up for basic cable anyway. There are plenty of cable or satellite providers who ramp up the costs during the later years of a contract. Check out other items like your monthly ADT payment as well.

Going out to eat is a huge expense and should be avoided at all costs by those in debt. Many times a person could cook a week’s worth of food for the same cost that it took to go out to dinner just once. When you do go out for dinner you should drinking alcohol if possible as this is marked up immensely. Each meal that you eat in instead of out knocks just a little bit more off of your debt.

Talking to the people you owe money to whether it be a credit card company or otherwise can actually help. They could be willing to modify payments or renegotiate deals in order to help you out of debt.

Whatever you do to get out of debt do not pay off debt with another credit card. This is a vicious cycle that could leave you in debt for life. Save a few extra dollars a day and get out of debt faster.

You Need to Automate Your Savings

Behavioral finance scholars Shlomo Benartzi of UCLA and Richard Thaler of the University of Chicago have done some fascinating research in the area of 401(k)s. Several years ago they noticed that a growing number of companies, concerned that too few workers were taking advantage of company- sponsored retirement plans, were experimenting with “automatic enrollment” 401(k)s. In a regular 401(k), it’s up to workers to decide whether they want to participate in the savings plan. Employees who want to join are required to fill out enrollment papers. They have to decide how much they want to contribute to their 401(k)s and how they want to invest the money. In other words, it’s up to the worker to opt in to the system.

In automatic-enrollment 401(k)s it’s just the opposite. A new employee is automatically swept into the plan upon joining the firm. The only people who have to do anything are those who want to opt out of participating. “These plans are remarkably successful in increasing enrollment,” Benartzi and Thaler say. Indeed, when companies switch to automatic enrollment plans, the participation rate in those 401(k)s can jump from below 50 percent to more than 80 percent. In some cases, 9 out of 10 workers end up participating.

The lesson: automate your savings regimen wherever you can. Save small amounts of money each week or month like you do in a 401(k). And make inertia work for you. This is simple to do. Most brokerages and mutual fund companies allow customers to set up automatic investment programs. Money can be automatically deducted from your checking account into a money market, bond, or stock fund each month. At places like T. Rowe Price and Fidelity you can set up a savings program for as little as $50 or $100 a month. The appeal of these plans is that, once set in motion, they allow individuals to set aside a small amount each month without having to make a conscious decision to save. If you want to quit, you have to fill out the paperwork. This way, inertia is working for you.

Today, only a minority of savers and investors take advantage of such plans. Yet the majority recognizes that automatic plans are useful tools toward building up savings. In a recent survey, 68 percent of Americans said that saving automatically each month would be somewhat or very useful in building their own savings accounts. In general, 79 percent think that setting aside a fixed amount of money each month would be useful in overcoming the inertia that hinders so many savers. Benartzi and Thaler cite one problem with automatic 401(k)s: “The very inertia that helps increase participation rates also can lower the savings rates of those who do participate.” They note that many investors in automatic 401(k)s never increase their payroll deductions into the plans. In such plans, companies often establish a default rate of contribution, typically 3 percent of a worker’s salary. Benartzi and Thaler found that workers tend to stick with those default rates, even if they eventually can afford to contribute more.


Thinking of Purchasing a Home?

One of President Obama’s priorities in 2015 was to kickstart the housing boom once again and, as the Federal Housing Administration lowered mortgage insurance premiums today, first-time home buyers got an excellent reason to buy a home this year.

Last week Friday the report from the National Association of Realtors showed that, while existing home sales were up, they were lower than expectations and in fact, with a 3.1% fall in 2014, it was the first time in four years that there was a year-over-year drop in home sales.

There was a bit more unfortunate news in the report as well, coming from Lawrence Yun, the NAR’s chief economist. He said that “Housing costs, both rents and home prices, continue to outpace wages and are burdensome for potential buyers trying to save for a down payment while looking for available homes in their price range.”

In other words, the cost of renting as well as the cost of a new home are both beyond the means of the average American. In fact, in 2014, fewer than 30% of existing home sales were first time buyers. One of the reasons is that prices for many consumer goods keep rising but wages aren’t. “Right now a lot of young adults are still living with their parents,” says Jed Kolko, Chief Economics at Trulia, adding that “When they move out, they will rent first before they buy.”

New rates put in place by the FHA have reduced insurance premiums by half a percentage point, something that should save $900 a year for FHA borrowers. The mandatory annual mortgage insurance rate for people who take out a 30 year mortgage and put down less than 5% has dropped from 1.35% to .85%. For those who put down 5% or more on their FHA insured loan, they’ll get a rate of .80% instead of the former 1.30%.

Joining the FHA are Fannie Mae and Freddie Mac, who both announce that new guidelines would be adopted for down payments, including offering qualified buyers the opportunity to get a mortgage loan with a 3% down payment.

The question remains however whether these programs are going to be enough to really give the housing market a kick in the pants. Kolko says that “The housing market isn’t quite yet back to normal,” adding that “Sales prices are getting closer to normal, but there are some parts of the housing recovery but still have a ways to go.” He was quick to note that, while housing is definitely important to the overall economy of the United States, as of yet it wasn’t doing its part to give back to our overall economic growth.

In other words America, get out there and buy a home if you love your country (or something along those lines).

How to Set Your Financial Goals

If you’re wondering exactly how you’re going to finally purchase a home someday, or retire comfortably, and you’re worried that you might not ever be able to do it, it’s probably time for you to set some financial goals.

Trying to figure out how to handle your personal finances can be a bit stress inducing, no question, but the fact is that ignoring your personal finances is about as risky a thing as you can do these days, especially when the economy simply isn’t what it used to be and the job market as well. Setting goals to meet and, if possible, exceed your financial needs is one of the most important tasks that you will need to accomplish as an adult, and so below we’ve put together a number of tips and bits of advice on how to start setting, and achieving, those goals. Enjoy.

First, you simply have to be realistic as well as prioritize your goals. Yes, “setting financial goals” is on your “to do” list but, seriously, you really should be setting some time aside at least once a month, if not once a week, to not only plan but manage those goals. Simply put, if it’s on your calendar or a reminder that you see every day, there’s less chance that you’ll forget about it and instead prioritize it over any other activities or tasks you might have.

Of course taking the time to manage your financial goals, while all good and well, doesn’t do anything unless you actually set some goals and reach them. You should definitely start small with goals that are realistic and “actionable”, which means that you can take action on making them happen. Setting goals that you can achieve using your current budget will obviously help you to reach those goals, and meeting them will not only help you reach future financial successes like purchasing a house and retiring comfortably, but give you a real feeling of accomplishment along the way they can help you to achieve bigger and better financial goals as well.

Once you’ve gotten started the next thing to do is simply to track your progress, something that might seem a bit difficult but, in the end, can make a huge difference in reaching your goals and achieving the lifestyle that you want. Frankly, the difference that tracking makes can be huge and help you to retire comfortably rather than having to work in a low-paying, thankless job as a senior citizen.

That means setting up a budget and tracking what you spend, what you save and your progress towards any goals that you have. If this means putting aside $500,000 in a retirement account, saving $25,000 to put down on a house or simply saving enough money to pay cash for this year’s vacation, tracking those goals is the best way to meet them. There are many different budget tracking programs you can find online, and budget tracking apps that you can use on your smartphone.

Lastly, realize that you might need some financial help and advice along the way and don’t be too full of pride to ask for it. First, there are a plethora of online tools these days that can help you to not only set up but manage your budget and set savings goals for yourself. Monitoring your credit is an excellent idea as well in order to improve your credit habits and make sure that you don’t go too far into debt. Also, if you have high credit you’re going to get lower interest rates when you apply for a mortgage or any other type of loan, something that can help you save quite a bit of money over the lifetime of that loan.

Asking a professional financial advisor for help is a good idea as well, once you put aside a substantial amount of money. In fact, even before you have a substantial amount of money you should probably ask for help so that you know exactly how to get there.

In closing let us give you one simple bit of advice; the best way to accomplish your long-term goals is to accomplish short-term goals along the way.

New IRS scam targeting the elderly

Elderly consumers around the country are being targeted by scammers and, unfortunately, the problem keeps getting worse. A recent news story out of Austin Texas about an elderly woman who was scammed out of $2500 underlines the growing problem.

The IRS is fully aware of the problem and, since it first issued a warning to consumers back in April 2014, has received more than 20,000 phone calls from around the country.

The scam involves callers, who have no affiliation with collection agencies, the IRS or other authorities, calling consumers to tell them that if they don’t pay their back taxes immediately they will be arrested. If they’re successful in convincing the consumer of their lies, they then request that the consumer go out and purchase preloaded debit cards in order to pay their taxes, insisting that this is the only way that they can pay and avoid having the police come out to their home.

In some cases the caller has threatened deportation to legal immigrants as well, something that inspires enough fear to be successful in many cases.

It’s been estimated that victims of the scam have paid up to the tune of over $1 million to these fraudulent “IRS agents”, according to the Treasury Inspector General for Tax Administration. In many cases the calls even show on the phone’s caller ID as coming from the IRS, and the callers oftentimes have the last four digits of their victims Social Security number as well.

In many cases, when victims don’t answer their phone the scammers leave angry phone messages that warn the victim about their impending arrest because of their failure to pay. When authorities have called back on the numbers left by the scammers, the usual response that they get is no response at all.

If you’ve had trouble with scammers trying to pull a scam on you as well, or you have elderly people in your family that might be vulnerable, here are a number of things you can do to protect them and make sure that they don’t unwittingly pay out to these thieves.

First, if you or a family member aren’t sure whether or not you owe money to the IRS, call them directly at 800-829-1040 to find out. Explain what’s happening and IRS worker will assist you with determining whether or not you owe money and, if you do, what payment options are available.

You should also report what happened to the Treasury Inspector General for Tax Administration. The number to call is 800-366-4484. The more that they know about this IRS scam, the better. You can also file a complaint with the FTC on their website,

Finally, keep in mind that if you actually do owe the IRS money in back taxes, the first thing they will do is let you know about it through the US mail. Also, the IRS will never ask you to pay for your tax debt using prepaid debit cards, wire transfers or anything of the sort. If someone is trying to convince you of this on the phone, it’s almost guaranteed that they are scammers trying to steal your money, and using fear of the IRS to do it.

Calling and harassing family members the newest debt scam

There’s a new scam being perpetrated on the public and fraud fighting organizations across the country are beginning to report on it with alarming frequency. It involves fake debt collectors who call and harass family members and friends of their “target”. What they rely on is fear of course, including social pressure and fear that a person will lose their job. Unfortunately their scam works quite well and continues to grow.

The biggest reason that they’re successful is that the average person doesn’t know what their debt collection rights actually are. One of the most important rights states that debt collectors are not legally allowed to give any details of their debt collection activities to someone other than the actual debtor him or herself.

Simply put, anyone who calls you and discloses information about a friend, family member or anyone else who isn’t you is using illegal practices to pressure you, even if they are actually a legitimate debt collector. Not only is this a scam but it’s also a violation of that person’s rights, and yours.

The losses aren’t small either, to be sure. Between October of last year and June of this year, victims of this scam lost an average of just over $1700.

In many cases what happens is that a scammer somehow acquires a consumer’s home and work information, oftentimes from bogus payday loan applications. Even worse is that if someone has successfully been defrauded, their information is then sold to other aspiring criminals who are looking for an “easy mark”. These victims are then subjected to repeated fraud attempts because they’ve been put on a “sucker list”.

If you or anyone you know has been a victim of collection fraud of this kind, or suspect that someone has tried to defraud you in this way, you should alert everyone in your circle of friends, your family and your coworkers. That way if they receive any debt collection calls they will know immediately that scammers are trying to put one over on them.

The most important thing that you need to do when you get any type of phone call from a collection agency, or someone purporting to be a collection agent, is to confirm the legitimacy of their collections account before paying any money whatsoever. Also, you should never provide any type of payment information to any debt collector, real or fake, over the phone.

The good people at also warn that applying for so-called payday loans online is extremely risky, because you may expose personal information about yourself to fraudsters. Not only that but payday loans usually carry much higher fees and rates than the same type of loans that are acquired traditionally.