It's your business. Treat it as one.

*** Warning: Some of this isn't Forex.***

Hi all -

I just wanted to share a little bit of information with you. This post will be aimed at some of the newer traders. You older ones probably won't get any more out of this than the last 10 posts. ;-)

First, I must give you a little background on myself.

I have never traded stocks. Never traded bonds. Never even heard of the idea that you could "trade money" until about a year ago. Like a lot of people, I was lured by the potential of huge profits. Besides, it had less "stocks" to follow. And I have an interest in global politics and news, so the Foreign Exchange Market was a natural fit.

However, through the magic of Excel, I have discovered a flaw in being so "sheltered". We Forex traders have to "watch" so many other things that affect our beloved Euro. (Or, pick your favorite currency.)

One thing many of us do is focus entirely on Forex. But as a trader, or investor, we are supposed to make money. So here are a few things I have done recently:

I have began to put money away in an online savings account. Check out bankrate.com for a list of savings options. I currently get a touch over 5% on this account. Is it going to make me wealthy by itself? Of course not, but I know it's making money. Also, it can rolled into a larger profit potential in the end. (I am interested in buying property here in the USA after a few more years. I want to see blood on the streets.)

I also am starting to add small amounts to a mutual fund that invests in developing markets. (Read: India, China, Singapore, Korea, etc.) The beauty of this is that I don't have to risk a ton of money, get exposure to these markets, and don't need to think too much about it. T.Rowe Price has several mutual funds you can buy into for as little as $50-$85 a month.

Also, we know that the Canadian Dollar is effected by oil. So, if you trade that currency, wouldn't it make sense to get into the oil markets? (I don't, but thats an example.)

The point is that we are here to make money. Just as you shouldn't be concerned if you are making Francs, Yen, or Dollars, you shouldn't be too worried about what market you make money from. Forex is exciting, yes. But Forex isn't the only thing. (I know, blasphemy for a Forex Trader to say, but it is true.)

Just explore the options, there are other ones out there to take advantage of.