Monday, September 26, 2011

Becoming Your Own Banker

Nelson Nash's concept of privatized banking discussed in his book Becoming Your Own Banker is intriguing and worth your time to understand.  This concept works on many levels;  building financial security for the future, retirement planning and income, life insurance, and the possibility of creating family generational wealth with your children carrying on with this plan for generations to come.  One of the major advantages of this concept is the ability to borrow your own money back out to use for anything you normally use a loan for, such as buying a house or a car while your policy still makes you money.  Then you pay yourself the interest that you'd normally pay a bank while you recapitalize your "bank account".  Sounds interesting doesn't it.  I've talked with a life insurance agents/friends of mine and they were not aware of the side benefit of this specific life insurance policy and were only aware of the death benefit part of it, which is really a perk to know that your loved ones will be taken care of as well.
So educate yourself if you're interested in learning more about this.  Here's a link to a pdf file that helps you start to understand some of the concepts used as well as some history of the financial system in the US.
get familiar with Nelson Nash's book, the Infinite Banking Concept (IBC), The idea of privatized banking that will free you from using these sick and greedy banks.  Knowledge is power.  Open your mind and find what works best for your financial needs and goals in life.  Who else cares about your financial future? 

Peace and profits to all.

Thursday, March 17, 2011

Book Review: One Good Trade, by Mike Bellafiore

One Good Trade, is one good book about prop trading.  You are sitting with an old friend and listening to his stories when reading this book.  It was certainly hard to put down for me as it read more like a collection of stories on trading wisdom than your typical technical trading book.

Bella invites you to his trading firm and introduces you to his trading family as soon as you enter the book.  He shares his family's endearing qualities that make you feel welcome right away, and connected to Dr Momentum, Franchise, Gman, and Spencer family members to name a few.

The book covers many topics that pertain to Proprietary Trading and how to get into this competitive arena, so if this is an endeavor of yours, this book is a must read.  However, it also talks about the "trade" itself.  You will learn a lot about trading psychology and basic trading setups from the many anecdotes that Bella shares throughout the book each with its sports analogy to drive the point home.

If you are a beginning trader or an advanced one, you will be able to read about yourself and learn how to deal with trading issues you may have/had or those that may pop up every once in a while, and you will learn how to deal with these issues.  The best teacher doesn't teach, the best teacher shares his knowledge with others!  Thank you for sharing Bella and for the Many One Good Trades to come!

Peace and profits to all,