The James Dicks Blog

These are tough times – emotionally and financially – and in order your start your day on a positive note, you must take active control of your thoughts.

A while back I wrote an article that explained how I use a method to compartmentalize my own personal situations. In other words, I know that there are problems and situations that I must deal with at some point in my life, but that time might not come for another day or another month. I’ve taught myself to put those issues in the back of my mind – in a mental “compartment,” if you will – which allows me to deal with the most immediate situations first. Those issues that I have to concern myself with next week won’t be interfering with my current daily routine until the time comes to deal with them appropriately.

It’s not that I’m ignoring the problem; it’s more about postponing action until action is required. It takes time to master the knack of doing this but once you can control your thoughts a little better, you’ll notice that life won’t seem like an insurmountable task. Taking little chunks and handling each thing in a priority order certainly will help you develop a more positive attitude about your life.

Even before you get out of bed, stretch your body and your mind and prepare for the day ahead. Quote to yourself some positive affirmations knowing that if you think it, it will likely happen. If you get up in the morning with a negative mindset, your whole day will reflect that attitude. I guarantee it! Instead, get up with a positive thought, before a random life event takes hold of your daily routine. Things happen and most of how these events affect you is entirely the result of how you mentally handle and accept each situation that comes into your life.

It’s really very easy – if you think you CAN’T you will never accomplish anything. You remember as a child when you were first read the story of the “little engine that could.” The little train was chugging up the hill just saying to itself over and over – “I think I can, I think I can.” Well, it didn’t make any progress until it started telling itself– “I KNOW I CAN!” The moment you know you can you will help you begin to see how your mental state of being will always assist you in attaining the next goal, your next life objective.

Don’t get me wrong, I’ve had plenty of rough spots in my life and there were times when I felt the only thing to do was to give up. But someone gave me this same advice and I decided to try it. Once I could rearrange my thoughts from mostly negative to mostly positive, amazing things started happening to me. Those issues that I once thought were “mountains” that I could never climb suddenly flattened out and I could now run rather than limp through my life. I also found that there were quite a few people out there who were willing to help me overcome some of my challenges. In short, my life started changing for the best and I’ve never looked back.

Unexpected things in life will occur, anther great and logical reason to get your mind set on a more positive course now. If you have a stable mental process, when you hit one of life’s snags, you’ll be more likely to handle it more productively. Kind of like saving up financially for the proverbial “rainy day.” By preparing, whether mentally or financially, you’re ready for anything that might throw some problems your way.

So from this day forward, begin each new day by first taking positive control of your thought process. Don’t dwell on the bad stuff; instead think about the good things in your life a little more than you have been. Be thankful for your family and friends, your health, your experiences, and your dreams and you will soon find that your dreams will soon become the reality you’ve always hoped for. It happens – it’s happened to me.

JamesDicks General business, credit, crisis, economy, financial growth, financial responsibility, forex, goals, investing, james dicks, job, market crash

We are inundated on a daily basis by the 24-hour news and business channels that the United States has experienced the worst of the economic downturn and is now coming out of the greatest recession since the Great Depression of the 1930s. But if you ask your neighbor, you’re likely to discover that the typical American family just doesn’t buy it; they aren’t feeling any better today than they did yesterday.

In a recent poll of more than 1,000 Americans conducted by CNN/Opinion Research Corporation, 84% of those surveyed believe that the U.S. economy is still very much in recession which is s slight improvement from September’s poll where 87% felt the recession was still alive and well. This kind of public sentiment, while heartfelt, seems to be just the opposite of what the nation’s economists are telling us; that the “Great Recession” has finally come to an end.

Economists are in almost universal agreement that, according to the numbers, the worst of the economic slowdown appears to be behind us. According to the latest reading on gross domestic product, the U.S. economy grew at a 2.8% annual rate in the three months ending in September, the broadest measure of the nation’s economic activity. And while job losses continue, the number of jobs lost in November fell to 11,000, the smallest amount of any month since the start of 2008, while the unemployment rate fell to 10% from 10.2%. Plus a recent survey of top economists from the National Association of Business Economists found 81% agreed that the recession was over.

So, why the discrepancies?

While there have been some economic improvements, economists believe that it will take a long time, perhaps even years to dig out of the economic upheaval that this recession caused. Because the improvements have been slight, the average American family just doesn’t feel it yet. One economist put it this way, “The hole is a very big hole this time and the recovery is very modest so it might take us a number of years to get out of the hole.” And this startling result also came to the surface recently. While economists are getting more optimistic, the consuming public appears to be getting even more pessimistic. The same poll found that only “15% believe the economy is starting to recover from the problems it faced in the past year or so, down from 17% who saw improvement in the previous poll in September.” And the public also believes that things will get worse before it gets better.

This is something that the retail industry didn’t want to hear during the biggest shopping period of the year. Holiday shopping so far has been less than stellar. A recent Christmas Retail Survey released during the first week of December by America’s Research Group (ARG) and UBS showed that sales were weaker this year than in 2008. Of those consumers not shopping, an overwhelming number, 95.1%, said they will wait until just before Christmas (some even said they’d wait until December 24) to get more items on sale.

And further evidence of a shaky American consumer base, the most recent Consumer Credit report released by the Federal Reserve showed that Americans borrowed less for a record ninth straight month in October, another sign that consumer spending will remain weak and make it more difficult for the economy to produce a sustained rebound. And unless the U.S. consumer develops some confidence in the nation’s economic foundation, the chances for recovery are probably negligible.

We are all hoping for a more profitable 2010, and the last thing I want to be is pessimistic (it just goes against my nature). But until our national housing and mortgage industry is repaired, until the banks start loaning money again, until jobs start picking up, until the confidence of the American consumer is bolstered by a feeling that our economy is, in fact, returning to normal, this country could continue to experience the same economic doldrums in the New Year. Let’s hope the effects of the technical economic improvements economists are seeing today will soon show themselves fundamentally to those of us who live on Main Street USA.

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The past few years have been economically challenging for many of us and locating the best investment alternatives are always a primary concern. That’s why so many people around the world have decided to trade the Foreign Exchange (FOREX) market; it’s an appropriate opportunity to use for diversification and the many benefits of trading the FOREX (read my article “Consider the FOREX Market” dated October 19, 2009) makes it a great place to invest and trade, even in the toughest economic periods.

It’s not unusual for new FOREX traders to expect instant, massive returns on their money and believe me, that’s a definite error. Just like anything else, the FOREX market has a learning curve and requires a great deal of determination, education and practice before “live” trading should begin. The FOREX can fetch you large profit potential but it can also bring about large losses if your strategies are faulty or not followed to the letter. I don’t know if I’d go as far as to say that the FOREX market is completely “recession proof” but it’s an opportunity that can weather the economic hard times much better than other investment vehicles.

In the past, the FOREX was only for high roller, institutional traders and investors but in the past decade this unique investment opportunity has opened its doors to just about anyone who might be interested. These are people with families and jobs that might want to trade when they have a bit of spare time in order to supplement their income; in many cases some people have become solid, full time traders and are making a pretty good living doing so. One thing is for sure, whether there is a recession or not, the FOREX market is a place to consider. As a matter of fact, erratic economic conditions normally create volatility that often generates movement in the FOREX. And it’s that movement that creates profit.

But like I said earlier, if you want to be a successful FOREX trader you must obtain a solid foundational education. There are three things that you need to prosper when trading the Forex – education, training, and support (ETS). Without these attributes you are dead in the water, so to speak. The ongoing education and training can be obtained from a variety of sources; live classroom instruction, books on the topic, Internet webinars, or personal coaching sessions. Ask questions of those who have made money trading the FOREX; those are the people who can help you excel.

The support you need can also be found from a variety of sources as well. Support should come from successful traders who are willing to share their information and insights with you on how they developed their methods of trading the FOREX market. These are people who have already developed solid trading plans and profitable trading strategies; issues that you will need to perfect in order to become profitable yourself. It might be a friend who is already in the FOREX and willing to share information or it might be a bit more formal, like a professional trader who is teaching a structured trading class. Whichever the case, the need for you to obtain constant support and encouragement is ultimately important to your continued trading success in any market.

It’s much more fun to do something if you can share it with someone else and trading is no exception. There are probably a number of people in your own area who are also looking for support and information when it comes to the FOREX market. Search them out and start a trading group in your local community. Bolster each other with encouragement and share tips with each other so you and your family can thrive no matter what the economic situation. Recession proof your lives today by doing something you know, understand and enjoy – achieve your personal financial goals through trading the FOREX.

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Creating a successful business is about more than financial achievement; it’s more about the satisfaction of creating a service or a product.  It’s about taking something that didn’t exist before and making it become reality.  It’s about the sheer enjoyment of focusing on a vision and enjoying the risks and possibilities that come from creating a business through entrepreneurship.  More and more Americans are leaving the corporate environment and becoming their own bosses.  Some enter the realm of business ownership as a result of a downsizing, others as a result of a mid life crisis.  Whatever the reason, the growth of small, privately owned business across the nation is at record levels.  The bottom line is we live in a country that allows us realize our dreams, both professionally and personally, if we work hard. 

Your passions will help you to create a business you understand.  That’s very important – do something you appreciate – something you enjoy.  Do what you know.  Do what you like.  Success is never a foregone conclusion, but if you do something you identify with, you’re more likely to realize positive results.  Remember, an entrepreneurial attitude is just as important to a firmly established company as it is to a start-up.  If you can maintain the “start-up” approach to building the business, you foster a mentality of accomplishment throughout the organization, no matter what its age or its size.  But never forget – entrepreneurship is difficult.

Your attitude can make all the difference.  There are always challenges and you should focus on opportunities rather than problems.  Make the customer number one and strive for high productivity.  If you have employees, make sure you set the pace and the example and foster an attitude that creates an “ownership” process throughout the company.  Don’t ever stop taking reasonable and evaluated risks.  Communicate your vision with employees and customers and keep it simple. 

Don’t be misled; there is a lot of information to learn.  Business owners need to develop working relationships with a variety of individuals including customers, wholesalers, dealers, staff, bankers and other professionals such as lawyers, accountants and other specialized professionals.  Entrepreneurs must make important decisions daily, often at a moment’s notice and most times, under pressure.  Owning a business can be very challenging but remember it’s going to take a lot of hard work and long hours.  Get to know your strengths and your weaknesses and then adjust to make sure that success becomes more likely.  Entrepreneurship isn’t always as attractive and glamorous as some pundits may portray. Ask someone who’s done it. If you start your own business, life as you know it will never be the same.  It might be better than expected, then again, it just could be worse than you could ever imagine; but it will definitely be different from anything you’ve ever done. 

If you decide to make a go of it, follow your heart, your passions, and learn all you can about your business and your customer base.  Perhaps your company will be the next one that is included in the Forbes Celebrity 100 as a global billion dollar a year power player.  Keep pushing forward and never give up. 

JamesDicks General business, economy, education, Entrepreneurship, investing, james dicks, market crash, premieretrade, success, unemployed,  financial growth,  financial responsibility,  forex,  goals

I’ve noticed recently that we seem to be worrying about everything.  Yes, the past year has been tough on a lot of people and a lot of businesses. We agonize about the current state of the economy, we are concerned about the horrific possibility of terrorism in our local communities, we worry about whether we’ll be ready for retirement, and we are very concerned about how our children will fair in this highly demanding and , at times, difficult world. 

I usually find that if I’m not certain of where I’m going or how I’m getting there, I will tend to have more concerns than if I actively sit down and plan for the future.  We hear on the financial news programs every day that investors are “worried” about a variety of things that will move the markets lower.  What’s the point?!  Let’s start planning our personal situations and stop creating the anxiety.  The summer months are over and we are now preparing for autumn and the changing colors of the trees, feeling a nip in the air, and the smells of the season from cinnamon to evergreen.  I don’t know about you but I think this is a great time of year.  

Sure, there are some challenges ahead which could complicate our national and personal finances.  The negative scenarios that the U.S. economy is pushing through today along with the ever-increasing cost of energy could certainly cause a drain on our personal finances and put tension on the retail sector as well as pressuring the trade gap.  But there’s not a lot we can do personally to generate solutions for these hot topics.  The one thing we can do to sustain our personal “corner of the world” is to develop a positive and constructive attitude.  It really does help.  When you decide to carve out your personal path using even a small amount of confidence, you can’t help but develop the belief that you can succeed at anything you set out to do, no matter what the odds.  Believe me, I’ve done it. 

Positive thoughts and actions create positive results. If you have the wrong attitude then your trading could also be affected.  Doing anything with the wrong attitude will lead you in a direction that will be a burden rather than a blessing.  Individually, things can be tough to deal with but collectively – as an encouraging population – we can do anything.  As we approach the final quarter of the year, I’m hopeful for the months ahead and I hope you are too.  We’ve proven this factor in the past and I have no doubt that we will bear it out again in the future. Become proactive and cheerful by developing your attainable goals while staying focused on the situation(s) at hand.

The improvement of anything you do in life requires you to get the education you need, whether formal or informal.  If you feel like you need to improve your personal investing skills why not find a trading group in your local area and work with others to perfect your skills or take a formal class.  You’ve heard me say it before – it’s all about education.  If you are learning to play golf, I’m sure you have to practice.  If you are trying to master algebra, you have to study.  The same is true for an effective and profitable financial life.  Never give up! Determine your direction, get educated and you will get results! 

Happy trading!

JamesDicks General business, credit cards, crisis, economy, expenses, housing, interest, investing, james dicks, market crash, money, mortgage, payments, personal finance, premieretrade, refinancing, stimulus, stock market, unemployed,  financial growth,  financial responsibility,  forex,  goals