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Is the Trend Your Friend?

The trend can indeed be your friend as a Forex trader. Just make sure to be aware that the trend can end, and you need to make sure you are prepared for that inevitability. When the trend ends it can be most unfriendly. The trend is often a crucial part of any Forex trading plan.

When there is a strong trend, it will eliminate some of the issues with exact timing of trades because almost no matter when you enter if the market is going in a specific direction, you can make a profit as long as you watch for when the trend changes and time your exits accordingly.

Trends in Forex can fall into three-time frames – day, swing and position. Each one of these trade lengths has their own trend. The same charts with different time periods can show a trader the trend for that period. The most commonly used charts for trading the trend are the Simple Moving Average and the Exponential Moving Average. An uptrend will be evident with higher highs and higher lows. A downtrend conversely will appear as lower highs and lower lows.

It is important to first identify the trend before determining whether you should enter or exit a trade. Once you can establish that there is a strong trend, then you will know when to enter and hopefully time your exit accordingly. Determining that you are trading with the trend and not with the corrective waves in the trend is key to remaining friends with the trend. Watching for the waves within the trend is essential to understanding how you can benefit from trading the trend.

Matching your Forex trading strategy to market conditions seems pretty straight forward. The most common market condition that traders look to use is the trend and that is why trend trading is such a popular plan. The future is always somewhat unclear in the Forex market but identifying a trend can clear that vision up a bit.

The smartest way to trade with the trend is to look for the swings that inevitably are part of any trending market. Buying on the low of the up trend and selling on the high of the low trend is an obvious trading goal. Watching the swings of the trending market can help you identify when those highs of a low trend are coming and when the lows of the uptrend happen. The longer time period charts will help you to decide the strength of the trend and determine where the swings or corrective waves are.

There are different ways of strategizing trend trading. Some use simple price action charts. Others will use indicators like the RSI, Relative Strength Index to gauge the trend and its swings. Either way, a general rule of thumb for trend trading is to enter longer positions when the market is in a upward trend and shorter positions when the market is trending downwards. Following this advice should keep you on friendly terms with the Forex trend.

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Branding Tips from Million-Dollar Online Casinos

Branding is a field that evolves constantly. As online business activity has grown, branding and marketing has become more complex than ever before.

With new channels, strategies, and platforms developing constantly, organizations from all industries work to get the most out of their marketing efforts.

There may be no more competitive market than online casinos. When looking for marketing tips, most people look to the biggest success stories they can find. Million-dollar online businesses know what works when it comes to making a sale. Though modeling your marketing strategy off that of the pros may take some time, it can provide great results in the long-run.

Optimizing Content for the Viewer

Every person has their own tastes and preferences, a fact that has kept marketing professionals busy since the days of black-and-white TV advertisements. The digital age has made it easier to see what people enjoy, and to set up your content accordingly.

Big money companies don’t get that way by wasting resources. When they publish a piece of marketing material, be it a promotional advertisement, a product description, or a white paper, they know what their audience likes.

The top online casino brands create amazing content around tournaments they are sponsoring, sponsored poker player stories and much more. This content then gets distributed across their digital assets to bring more people into their ecosystem.

People respond better when marketing material tells them what they want to know and helps them solve a problem they’re having. Once you’ve got the content they want, the next step is to help them find it.

Using Social Media to Distribute Content

If a person is looking for something from an online business, it usually means they’d prefer this option to a brick-and-mortar store. A physical retailer may rely on commercials, billboards, and other traditional forms of promotion. However, online businesses usually get discovered through social media.

Major companies aim to be the customer’s go-to resource, making the advertising landscape a competitive atmosphere. Customers want a company that has a reputation for being the top choice, not a secondary option.

Building a community of engaged fans is the highest priority of many online casino brands. While having a large following is nice, a community that is actively engaged and interested in the content you are publishing drives traffic and new business consistently for these brands. This strategy can be deployed to any business if you focus on sharing content that your community truly wants.

Use Trusted Ambassadors to Grow Reach

People appreciate consistency. With so many social media platforms there’s an infinite stream of voices talking about every subject under the sun. It’s the voices of experts that consistently provide valuable content that cut through the noise.

Businesses that see massive growth in social media know how to utilize these voices as brand ambassadors. Hiring ambassadors with large following who speak directly to a business’s target audience can be a huge win. For example, poker giant 888Poker teamed up with Texas Hold’em champion Annie Duke to help bring more people into the sport. Duke speaks to over eighty five thousand Twitter followers daily about poker tips, decision making and women in sport. 888 and Duke are able to reach young women with the message that they can play poker and win at the highest level, just like Duke.

Marketing tips are most effective when they’re used behind a consistent, well-established brand. Even if it is a brand that hasn’t gained a lot of followers yet, leveraging ambassadors who do is a very effective strategy.

Should You Cancel Old Credit Cards? Know the Pros and Cons

Deciding whether to keep an old credit card or get rid of it is not a simple choice to make, but with the right knowledge, it should be easier to come to a decision. Find the pros and cons of cancelling an old credit card below:

Pros of cancelling old credit cards

  • You’ll rid yourself of a possible liability

Whatever the reason for closing an old credit card, one less credit card could mean one less opening for incidences of fraud or theft. Because old credit cards are often forgotten and are generally more difficult to maintain and manage, they could be vulnerable to criminals.

  • You’ll have less temptation to fight

If you are one of those who feel richer than you really are because you have extra credit, then it might be best to cancel some of your credit cards. The same applies to people who tend to spend more than they should, so in order to prevent or reduce temptation, it is a good idea to close any extra lines of credit.

  • You can cut back on paying annual fees

Your old credit card accounts may have annual fees and you really shouldn’t be paying annual fees on a credit card you don’t use. Whether it is because you were not paying close enough attention or because you applied for the card when your credit was poor, you will save a good deal of money by getting rid of the card and if you must, replace it with a personal credit card with a better deal. Once you have good credit, the competitive financial landscape will sort out the rest.

Cons of cancelling old credit cards

  • Cancelling could hurt your credit score

If you have a negative payment history, closing an old credit card won’t work magic for you because the payment history of a card continues to affect your credit even after the account has been closed. While the effect the closed account has on your credit score will lessen over time, it is certainly not a solution for improving your credit. Other factors to consider include the utilisation rate and whether the card you intend to cancel is your only credit card.

  • You could lose out on existing customer deals

While they are often not as juicy as new customer deals, some lenders may offer current cardholders a fantastic deal every now and then. If your lender is one of the considerate ones, you might be losing out on opportunities to enjoy great deals on your credit card if you decide to cancel. While the offers may not be better than those for new customers, at least you won’t have to go through a credit check.

Before taking the leap and cancelling an old card, be sure to evaluate your position carefully so you don’t end up with regrets. Learn how keeping or cancelling the card will affect you in the long and short run.