Personal financial control: learn to do yours and save money to invest in Forex
Tips

Personal financial control: learn to do yours and save money to invest in Forex


✅ Financial success does not come with miraculous attitudes or unique moments, but with a lot of effort and dedication to ensure that your budget can realize your dreams. However, achieving that goal is impossible if you cannot have control over your finances and what happens is that they end up dominating you.

The personal financial control tool is indispensable if you want your money to earn and you can invest in your dreams. Want to get there? We have separated some tips for you to learn how to make a personal financial control of quality. Enjoy it!

⚠ Know your earnings and spend

🕢 For quality personal financial control, you should start by knowing what your earnings are and what your fixed expenses are. This is necessary because people do not always know exactly how much they earn or how much of their monthly salary is compromised.

So, make a note of all your net earnings for the month, including salary and extra income. Also write down all of your fixed or recurring expenses to find out how much you spend each month. In the end, decrease how much you earn from how much you spend to get an idea of ​​how much you have available per month. If the account doesn’t close, you have one more reason to start doing financial control.

🆙 Control your expenses

Now that you know exactly how much you earn and how much you spend, it’s time to start controlling expenses. Therefore, as part of your financial control, detail all the expenses you can remember, rent, water bill, electricity bill, fuel, credit card bill, and more.

Identify which are the biggest ones and also which are not so necessary. You will soon realize that you are spending more than you intended and often that you are not seeing a return on the quality of life from these expenses – spending too much light, for example, will hardly mean that your quality of life is much better.

So, start tracking all receipts and expenses the moment they occur. By doing a strict control of entry and exit of values ​​you will know how to identify what you are spending.

🧿🎯 Set goals

To control expenses, you can even set budget goals. These goals can work both to reduce spending and to increase the economy itself. One goal, for example, maybe to reduce the electricity bill by 20% for the next month. Another goal may include saving 15% of your salary every month.

Creating goals for your budget is important because financial control must also have an objective, that is, you should not do financial control just to know what you spend, but also to have an active attitude to generate more savings.

💳 Buy only what you need

If you keep buying things you don’t need, your financial control will never level up and your financial situation will never reach the level you want. So, make a commitment to yourself to buy only what is needed for your moment.

Instead of taking advantage of any promotion just because the item is far below the price ask yourself if you really need the item. If the answer is not entirely affirmative, buying is not the best choice.

With that, instead of buying constantly, start thinking about new uses for the things you already have, ensuring a leaner and easier to control the budget.

💵 Prefer cash purchases

Speaking of ease of budget control, it is highly recommended that you prefer cash purchases. This is due to two main factors: the first is that there is no interest, and therefore you know exactly how much your purchase is worth at the time it happens. The second reason concerns the fact that making cash purchases helps to decrease impulse purchases since you see money coming straight out of your pocket.

This does not mean that you need to completely eliminate the credit card from your life, after all, it is very useful in situations where installment payment is necessary. The point, however, is that the less you use the card, the less debt you will have and the easier it will be to make effective control.

🔐 Keep organization

The organization also needs to be part of its personal financial control, especially when it comes to controlling the entry and exit of values. Every transaction needs to be very detailed and contain the exact amount, date, and reason for the purchase.

This is important so that you know exactly where your money went at the end of the month and make an assessment of what you did right and what you did wrong. If you just make a numerical entry, chances are good that it will reach the end of the month, and you will not remember the reference of that value.

Therefore, keep everything organized so that you do not lose yourself in your own financial control and always know what your expenses were.

🕴Be disciplined!

Speaking of making expense entries, it is very important that you have the discipline to record all expenses that you have, even if they are expenses that seem small or insignificant.

☕ Even a cup of coffee at the bakery or a small purchase needs to be registered for the bills at the end of the month to make sense and for you to better understand your spending habits. Imagine, for example, that you spend $ 5.00 every day at the bakery before you go to work. The expense seems small and, individually, it really is. When you write it down, however, you will notice that about $ 100.00 of your salary is earmarked for just that – so you need to note any expenses, however small.

Having personal financial control is an indispensable habit for anyone who wants to have better results in their personal life, staying away from debt or financial complications that take their sleep.

Anyway, to get a budget with better and better results, in addition to a correct organization, you need to invest your money in the best possible way. Investing in Forex can be a great option. Shall we see this together?

⭐ Investing in Forex is simple and easy!

Have you heard of trading? Do you want to multiply capital and achieve financial independence, but you don’t know how? So, this is your right place! Today we will learn to invest and succeed in Forex, the largest and most profitable market on the planet! That’s right what you just read, it’s the biggest trading market in the world, without exaggeration! Prepared?!

Making money is the result of a job well done. And, if you want to start from scratch and learn quickly, know that the Forex or Foreign Exchange Market is your right opportunity. It is no accident that this type of trading is the biggest and best in the world.

🗣 🦋It’s ease, dynamics, and high liquidity make it a real sea of ​​possibilities for the investor. All this because it is nine times greater than the movement of all the world exchanges together and, in total, the equivalent of five trillion dollars is traded on Forex daily!

Were you impressed by the numbers? That’s right, Forex is known for providing high profits on low investments and in a short time. Those who invest know that year after year, the capital growth curve is repeated or even improves. Just learn and plan your finances, as we talked about earlier.

Do you want to start making money and enjoy your goals? So, learn how to invest and succeed in Forex by reading this article! You’ll see what it is, how it works, advantages, numbers, and unfailing tips! Don’t waste any more time!

🦋 The best way to trade forex

There are two ways to invest with our AI in forex:

1. Automated with AI-Trading. Check out the 3 steps to trade automated with our AI.

By trading forex automated with AI, you will save time and improve your performance without monitoring the market and managing trading platforms.

With Automated AI trading you do not need MT4 / MT5 and other trading platforms to invest in forex. All forex trades are automatically placed into your broker account every time that our AI system identifies a new worthy trading opportunity. You can monitor the AI trading performance in real-time directly on our dashboard.

Automated AI trading benefits ✅

  • Setup in 3 minutes.
  • Totally hands-off, from anywhere.
  • Invest from just $100.
  • APY of 40% over the past 13 years*.
  • Lightning-fast execution & no slippage.
  • No commissions, no management fees.
  • Portfolio with 40 different automatic strategies.
  • No MT4/MT5 or other platforms required.
  • Test with a risk-free practice account.
  • Trading results directly on our dashboard.

Don’t you have a broker account yet? Our AI is integrated to trade automated with the broker FXCMClick here to open an account with FXCM.

Advanced forex trading strategies and algorithms 

The foundation of successful trading in the forex market is having a trading strategy. It’s based on a specific methodology that best suits your trading needs. Strategies could be manual, automated, or a combination of both.

Over the past decade, there has been a proliferation of automated trading strategies made available for retail traders.

And while there are many serious traders with established track records for their trading systems, there are many more low-quality trading systems falsely marketed as high-quality by overly eager affiliates, making it harder for investors to navigate the market for trading signals.

There has also been an increase in the social copy trade. Where an operator can mimic other operators’ businesses in real time.

Whether using a copy-trading platform or an automated trading system, in almost all cases, this type of investing is considered self-directed and doesn’t require a power-of-attorney or another third-party money manager to handle your account.

Unlike other copy and social trading platforms, Wiseinvet’s AI has the ability to execute a huge set of market data. It does this by combining technical and fundamental analysis. This strategy can increase the accuracy of our automated AI-Trading and AI-signals.

Self-directed forex investors

Compared to investing in a managed fund, there is greater responsibility. Traders put it on self-directed traders who use trading systems. A self-directed trader should conduct more detailed due diligence. It can avoid falling for the countless low-quality trading systems that exist on the internet.

  • Good quality trading systems will have established track records (historical results), and there will be other quantitative performance rankings, along with qualitative data about the strategy developers and any proprietary math used to operate the strategy.
  • Bad quality trading systems will usually promise high returns that will not equally emphasize potential risk.

There are no guarantees that a strategy will perform well. But conducting proper due diligence can help traders assess various trading systems. They consider using them to aid their trading or investment strategy.

What is the AI performance in forex trading?

The Win Rate of our AI varies according to the period and can reach up to 95%. The performance is based on the efficient frontier measurement metric, which means that our model is profitable whenever the Win Rate is greater than 60%. All strategies of our AI trading system seek stable returns and sufficient results to achieve an average return of 40% per year (APY), without the use of high leverages.

We understand that what matters in forex trading is the final result. Thus, the investor needs to consider that Win Rate is not always the best metric to measure performance in forex, as other signal providers disclose. For instance, out of 100 trades, only 1 trade may be enough loss to make the 99 trades not profitable. In this case, the Win Rate would be 99%, but the final result would be unfeasible (negative).

We focus on the return of 40% of APY and not just on Win Rate.

It is essential to observe that forex brokers may charge spreads, commissions, and overnight fees in your trading account, and these factors can affect the AI performance. You can check our forex trading track record to understand more about AI trading performance by clicking here.

How much do I need to trade forex with AI?

You can start in forex trading with free AI signals or an AI trading account and deposit just $100 in the broker. It is also possible to test using a risk-free practice account with our AI trading system. However, to do efficient risk management in real accounts, we suggest you start at least $100. Notice that some forex brokers require different initial deposits to trade forex.

What is the trading strategy of our AI?

Our AI strategy is the combination of different AI trading systems, with more than 100 features, that define 40 different strategies which simultaneously consider: Quotes of the 28 forex pairs, Supports & Resistances in different time frames, Trends and Counter-trends, Cross-indicators, Index of each pair, Economic Calendar, Investors Sentiment.

Our AI analyzes those fundamental, technical, and sentiment factors that affect forex trading, and all criteria are evaluated in real-time using different weights. After completing the analysis, the choice of the signal emission strategy is made considering the increased likelihood of short-term profit and the amount available for investment.

Using technical analysis, our algorithm considers not only the patterns of various trends, including support and resistance levels and cross-indicators, but our AI is also able to create its own real-time index for each currency pair, which is used to identify what is the best direction and target.

In relation to fundamental analysis in forex, the AI makes a correlation within the economic calendar to find news data that can affect specific currency pairs.

What is the best forex broker for my country?

We have listed here some of the top forex brokers to trade, such as FXCM and Oanda. However, as long as not all forex brokers accept accounts from all countries, you need to check availability to open a Forex trading account directly with the broker. We have been working to identify the best foreign exchange brokers for each country, as you can see below:

Did not find a licensed forex broker in your country to trade forex? Remember that forex trading is not regulated in all jurisdictions, but most countries allow their citizens to open an fx trading account with foreign brokers. For example, this is the case for forex in Nigeria and Brazil.

How long should I hold my investments?

The great famous investor Warren Buffett says if you don’t feel comfortable owning a stock for 10 years, you shouldn’t own it for 10 minutes. Even during the period, he called the “Financial Pearl Harbor,” Buffett loyally held on to the bulk of his portfolio. This reinforces the importance of being patient when using our AI trading solution. 😉

🎯 Wiseinvest is committed to democratizing the retail forex trading market through AI solutions. We work hard to provide financial education, allow anyone in the world to invest easily with Automated AI trading and free AI forex signals. To assure the quality of the AI trading system, our multi-layer platform is integrated with AWSIBM Watson, and Google AI.

Enjoy other free articles about forex trading on the trading Academy and on our free forex Telegram channel.

Disclaimer: Forex and Contracts for Difference (CFDs) are complex instruments and come with a high risk of losing money due to leverage. Forex trading is not suitable for everyone. You should consider whether you understand how forex and CFDs work and whether you can afford to take the high risk of losing your money.

The forex brokerages displayed shall disclaim the overall performance of traders in their platforms. Oanda warns that 76.8% of retail forex traders lose money trading CFDs. XTB warns that 80% of retail forex traders lose money trading CFDs.

FXCM warns that 74.74% of retail forex traders lose money trading CFDs. The performances aforementioned are not related to Wiseinvest AI forex trading and AI forex signals system. You can check the performance of our AI forex system on our dashboard.