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August 7, 2017

The Path to Paper Trading and Beyond

trading papersBecoming a day trader is a great way to start an alternate career that will prepare you as jobs become obsolete and independent sources of income are needed. And to become a good day trading you need to spend time in a trading simulator.

As we make our way in a world that is awash in information, the future for traditional jobs is bleak. You are not going to sit at a desk for years, poring over spreadsheets and writing articles for a paltry salary and benefits. That model is going to go away, slowly and then very quickly.

The question is: what do you do about it? Here is one solution: Start day trading. Day trading penny stocks is an exciting and interesting business that can be very lucrative for the right people. It takes time to be able to learn the techniques that will make you a good day trader and it takes grit to work your way through the hard-knock experience it takes to become profitable.

But by cultivating an independent source of income, you can insulate yourself against the trials and tribulations of the regular economy. Not many companies, and not many industries, for that matter, are ready for the coming waves of technological change.

So day trading is a way to protect yourself from what is ahead. In fact, to get good at day trading you need to be OK with volatility and uncertainty. Volatility is a day trader’s great friend. However, you need to be able to see the patterns in a chaotic market in order to profit from them.

Day trading education sites like Warrior Trading can teach you skills and strategies for spotting those patterns. You can learn about stock scanning and advanced chart reading, it is just as vital to move from study to practice.

That is where the paper trading comes in. Spending time in trading simulator is important, because it allows you to understand how to trade at the speed of the regular market, but with virtual currency, so you are not risking any real money. That allows you to make mistakes and learn from mistakes without endangering your life savings.

Working in a trading simulator with Warrior Trading means you will be able to trade in real time, with Level II quotes and veteran traders looking over your shoulder as resources to rely on. It is the ultimate practice for becoming a profitable day trader and creating an independent source of income for yourself.

To learn more about how working in a trading simulator can bring you from novice to expert, check out Warrior Trading on Facebook.

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July 17, 2017

8 Common Misconceptions About Setting Up a Merchant Account

merchant account set upWhen you run your own business, staying in touch with the times isn’t just a good idea. It’s a necessity if you’re serious about succeeding. This is especially the case when it comes to the payment options you offer your customers. Cash and checks are becoming less and less common by the day. In fact, many consumers don’t even carry them anymore. They simply assume they’ll be able to use their credit or debit card wherever their day happens to take them.
In other words, you need a merchant account if you want to stay relevant. If you’re not willing or able to offer your customers the convenience they’re looking for, you can bet your competitors will be. The good news is getting a merchant account isn’t nearly as complicated or difficult as you may think it is. Let’s go over a few of the most commonly held misconceptions about the process and address the truth behind each one.

1. Merchant accounts are too difficult for certain types of businesses to get.

Back in the early 2000’s, ecommerce was a relatively new concept. Not only were consumers not yet used to doing the bulk of their shopping online, but the entities in charge of granting merchant accounts weren’t sure what to make of it either. It didn’t exactly help that the only real way to set up a merchant account was to go through a traditional brick and mortar bank. There were certainly a lot of hoops to jump through if you were in ecommerce or ran any other business that could be considered high risk.

These days, that’s no longer the case. To begin with, there are lots of different merchant account providers to choose from when you’re ready to open yours. Many of these specialize in setting up accounts for small businesses or ecommerce companies.

Also, the requirements attached to the process are relatively easy to satisfy. For instance, registering your business as a sole proprietorship instead of incorporating is a great option for self-employed service providers. Modern business bank accounts can be obtained with little hassle and at a very low cost. Even registering a business name is pretty simple and inexpensive. You don’t need much else to qualify for a merchant account here in 2017!

2. You can’t get a merchant account if your business is a start-up.

Traditionally speaking, a bank sees a start-up business similarly to the way they’d see a person with no credit history. Although there’s no tangible reason to think that business isn’t a good risk, there’s no positive track record to definitively prove it is one either. In the past, this made getting a merchant account notoriously difficult if your business was still just getting started.

Today, people are more entrepreneurial than ever and many merchant account providers recognize this is a chance to connect with an emerging market. Some of those providers actually specialize in working with smaller, newer, or independent entities. They pride themselves on their ability to provide personalized service, strong client relationships, and unique solutions designed to help start-ups succeed.

3. The application process is always difficult and confusing.

In actuality, the application process could be difficult if the criteria attached to your unique business are very complicated. However, in most cases and for most businesses, the application process itself really isn’t that daunting or complicated. The key to success lies in making sure you select the right service provider.

A good merchant account provider that’s right for your business will pride itself on simplifying the application process for its would-be clients. Many allow you to begin the process online by entering basic information about your business via a web form. They then use what you’ve told them to prepare the correct documents for you. All you need to do is read them, sign them, and return them along with anything else you’re asked to send (i.e. a void check).

4. Merchant accounts are expensive, both to set up and to maintain.

Here we have another myth rooted in a distant past when ecommerce businesses still weren’t understood or accepted as a valid concepts. This meant they were almost always considered high risk ventures by default and high risk often also means high cost.

These days, all sorts of people are in business for themselves and the fees associated with having a merchant account often reflect that. Many account providers provide options that don’t call for set-up charges or continuing monthly fees. Instead, you pay a small fee each time you actually process an associated transaction – perfect for very small businesses or sole proprietors that only process credit card transactions occasionally.

In other words, there are options out there that were designed with your business and budget in mind. You no longer have to be a big corporation or a large company doing lots of volume when it comes to credit cards to benefit from having a merchant account.

5. It takes forever to receive funds attached to a credit card transaction.

Back in the day, it wasn’t uncommon for credit card processing agencies to deliver a merchant’s deposits once a week or even once every other week. The perceived risk attached to a given transaction was a lot higher then. Holding onto funds a little longer gave that processing company a bigger buffer against possibilities like chargebacks, fraud, or merchants that closed their accounts while still owing service fees.

The more common credit cards, debit cards, and the like become as payment options, the lower the perceived risk of such transactions. Here in a day and age that finds most consumers using credit or debit cards to complete their everyday transactions, processing companies are often on a daily (or near daily) deposit schedule. Depending on where you bank and who you work with as far as credit processing, you’ll probably see funds hit your account within 48-72 hours of the original transaction.

If you choose the right merchant account provider, you’ll have some choice as to when and how often you receive your deposits though. Most business owners do prefer to receive daily deposits, but if you actually prefer weekly deposits instead, that can be arranged.

6. Establishing PCI compliance is also difficult and expensive.

If you’re exploring the possibility of opening a merchant account, you may already be familiar with the concept of PCI (Payment Card Industry) compliance. The term refers to the standard every merchant needs to meet in regards to data security if they’re going to accept credit cards as payment options.

The cost and effort required to continuously meet that standard can be complicated or costly… for some businesses. For others, this is hardly the case. For instance, you’d expect a really big retail company like Macy’s or Wal-Mart to have more different tech requirements to meet than an independently owned dress boutique across town. You’d also be right to expect that. What is often super involved for a large business is usually pretty simple for a small one.
Again, your choice in merchant account providers can really help you here. Look for companies that go out of their way to educate clients about how to achieve PCI compliance and make the process simple. Many are happy to provide individual clients with additional help or advice if needed or desired as well.

7. Processing rates are the only factors that are important.

Ask a business owner that still isn’t accepting credit or debit cards as payment why they do things that way and they’ll probably tell you they don’t want to waste money on processing fees. They assume they’re being smart and saving while money is actually walking right out the door in the form of dropped sales and lost business. It’s not uncommon for such business owners to assume processing rates are all that matter when it comes to a given merchant account option.

As you would when opening any other kind of financial account, it’s important to look at the big picture which includes monthly minimums (if there are any), possible cancellation fees, and setup fees. Sometimes additional fees are charged for online access or changes made to your account as well, so make sure you’re looking at your final tally when evaluating options.

8. One merchant service provider is as good as another.

Just as there are lots of different ways to price merchant services attached to an account, there are lots of different providers out there. Some will be better fits for you than others. Some specialize in working with specific types of merchants like non-profits or businesses in a certain industry. Some focus on customer service as a selling point while others may offer clients free equipment, flexible rates, or other incentives.

Just take the time to carefully evaluate each of your options from top to bottom. No matter what business you’re in or what your needs are, there’s a merchant account provider that’s just right for you. Explore the possibilities today!

MobiusPay specializes in high-risk merchant activation, domestic and international processing. MobiusPay helps online businesses with payment processing, high risk merchant accounts, chargeback & fraud prevention, online check ACH processing and with maintaining PCI compliance. Please visit https://mobiuspay.com/ to learn more.

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June 29, 2017

7 Tips on How to Buy a Luxury Home

luxury home buyingLooking for a luxury home or condo? Don’t know how to find the best deal. The following 7 tips can help you buy your dream home.

1. Get familiar with the search process

Many luxury homes do not protect the privacy of their sellers. Those properties are quite often found later through the personal connections of Realtors. The large search engines don’t always cover everything you need. So, you may need to check a lot of online sources when searching for a real estate.

2. Go beyond the photos

Do not dismiss a real estate based on its front elevation photographs. The large homes and condos are often not photogenic. Your best bet would be to see a property in person. It’s also a good idea to do some search on Google Earth. This computer program can help you explore the property itself and its vicinity as well. This way you will be able to see what is around the home you’re looking for. You can also use the online search tools when searching for the luxurious properties. If you’re looking for a real estate within Hilton Head Island, make use of such a tool to find the best sea pines real estate.

3. Contact a local expert and reliable adviser

Once you’ve determined the location of your property, you should contact a buyer agent. A local expert can provide you with important info about the property you want to buy. Some high-end areas have a controlled access with the fewer open houses. Sometimes, you will have to make a few appointments to get access. Besides a local buyer agent, you should also hire a reliable Realtor for some suggestions.

4. Gather your financial documents

It is critical to document everything before heading to the high-end market. Pay attention to financial documentation in particular. People who are making a lot of money have an accountant or a manager to shelter their money.

5. Bank on your relationship

The banks keep the portfolios of their clients for many years. So make sure to go to the bank(s) you have the relationships with. It’s good to know the difference between the prequalification letter and pre-approval letter.

6. Don’t forget your title insurance

The title insurances ensure that you’re protected against possible issues that may occur. Before closing time, you need to take a look at the exceptions page. This page is included in the title insurance, but many people are not aware of it.

7. Get familiar with co-ops and condos

You need to know in advance what to expect with condominiums and cooperatives. Your attorney should represent you for condos and co-ops when you enter the field. The attorney should also do a thorough research on the financial viability of the real estate you are interested in. There is always a room to negotiate before you make an offer. Let your agent investigate the comparable real estates that have recently sold in that area. That will help you get the more affordable closing price.

Look into the future. Try to find out what buildings are planned around your property in the near future. And be aware of the timeline. Don’t tie your money up for an extended period of time. You may miss a good opportunity due to the construction delays.

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April 27, 2017

The Benefits of Hiring an Injury Lawyer for Your Small Business

injury lawyerDespite all the precautions you take, injuries can and will happen in the workplace. They may be rare, or uncomfortably frequent, but it’s always a good idea to ensure you have a knowledgeable professional attorney at your side for when these issues occur.

Filing for claims, dealing with insurance companies, and weeding through the paperwork can be a tasking matter, so having an attorney trained in this area is essential to avoid mistakes. Having their professional guidance can ensure your business no unneeded loss and help improve the quality if safety for your employees.

What are all the ways an injury attorney can help your business? I’ve listed a few of the common benefits hiring an attorney can bring your business. They may vary depending on the nature of your industry.

1. You’ll save money in the long run. Insurance agencies are excellent at they do, and they’ll weave the situation to fit their needs. Your business will be the one shelling out the big bucks for a claim, but an attorney can make sure you’re not giving more than is needed.

2. A better understanding of the weak safety areas. An injury lawyer can go over the problem with you and help you come up with a solution. One of the most common workplace accidents result in brain injuries, and your attorney will be able to help you navigate your options.

3. If the case goes to court, you’ll be well protected. Many small businesses falter and end up suffering from serious setbacks if an injury case goes to court because they don’t have the knowledge or resources to get through the situation.

4. An extensive knowledge of medical professionals and solutions. Unlock the doors to all the answers you’ll need about the law surround injuries, and get expert advice on where to send your employees suffering from a work-related accident. An attorney can help you learn and improve the general functionality of the workplace.

5. Less stress on you and more time for managing the work. Since all of the bills and paperwork around an accident will be handled by your attorney, you can return your focus to what you do best. Your job. No one enjoys being weighed down with confusing paperwork.

If this is the direction you want to take for your business, it’s important to do your research before an attorney. Ask family, friends, or others in your industry about which firms they turn to. Host an interview before making the final decision to get a feel for their personality. Remember, this person will become a part of your team, so make sure they fit.

Once you have met with the lawyer, make sure to ask them questions that will give you insight to how they plan on handling cases with you in the future. What is their strategy? What sort of professional history do they have?

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April 16, 2017

Burgeoning Financial Trends for 2017

financial trendsThe new year and the new presidential administration has ushered in a host of fiscal changes that could impact your wallet. Safeguard your money and act in the best interest of your household or business’s bottom line by learning more about the growing financial trends in 2017.

Rising Interest Rates

Interest rates are on the rise in 2017, creating a financial environment that is geared more toward saving than borrowing. In fact, people who put money into personal savings and retirement accounts have the opportunity to create and grow their wealth. Alternatively, people who need to borrow money face paying higher interest rates and making larger payments on their loans each month.

The higher interest rates correlate to the expanding economy and the creation of more openings in the American job market. As unemployment rates go down and American workers may more money, they have the unique opportunity this year to save money and take advantage of rising interest rates that could lead to greater personal wealth. Capital management services offered by professionals like James Dondero are also expected be more in demand this year.

Freelancing in Retirement

This year also has the makings of being the ideal time for retirees to make some extra cash doing side gigs. It is no secret that retirees are living longer and often outliving the money they have set aside for this time in their lives.

Until recently, however, people in this age demographic had few chances to earn extra cash. Many employers did not want to invest time and effort into training employees who would leave the workforce sooner rather than later.

However, thanks to companies like Uber and Lyft that rely on freelancers, senior citizens now have the opportunity to work for themselves as independent contractors and earn money that will not put their Social Security incomes in jeopardy. Along with driving for Uber or Lyft, they also can freelance as writers, artists, tutors, and other independent contractors.

Investment Portfolio Automation

This year also shows signs of increasing the demands for investment portfolio automation. This automation makes investing with financial pros like James Dondero easier and essentially creates an ideal if not passive way for people to put money into the stock market without putting forth any unnecessary effort on their part.

Further, this automation shows promise of being tax efficient and low in cost. Moreover, it costs the same if not less than an exchange-traded fund.

About James Dondero

James Dondero began his career in the financial industry in 1984 and has since become one of the leaders in capital and investment management. As the co-founder and president of Highland Capital Management, L.P. in Dallas, Texas, Dondero also serves as the CEO and chairman of the board at HCM Acquisition Company. Before founding Highland Capital Management, L.P. he worked for top financial companies like American Express and Protective Life.

He graduated with top academic honors from the University of Virginia’s McIntire School of Commerce with dual degrees in finance and accounting. He is certified as a Certified Management Accountant as well as a Chartered Financial Analyst. He also volunteers for Dallas-based charities and organizations like the George W. Bush Presidential Library and Institute, Education is Freedom, Snowball Express, and the Perot Museum of Natural Science.

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