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Trading on the foreign exchange markets or forex trading as it is more commonly known, is a complex business to say the least, and so it will come as no surprise that almost every trader will spend a high percentage of their time searching for anything that will provide an extra edge.

Fibonacci – or to give him his full and correct name Leonardo Pisano, was an Italian mathematician who lived in Pisa in the middle ages.

Amongst his many claims to fame he is credited with calculating “The Golden Ratio” and “The Fibonacci Series” by which the next number of the series is obtained by adding the last two numbers together…… 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, … and so on.

The thing that is quite surprising about the Fibonacci series is that this mathematical sequence naturally occurs so very often in nature, and in so many facets of life.

This may have something to do with why it is felt that Fibonacci has a part to play in helping us to trade on the foreign exchange.

Now stay with me here, because we need to take a look at the all important inverse ratio, because it is the use of the inverse ratio that we traders are most interested in.

If you divide one of the “Series” of numbers by the previous number in the series you will always get the answer 1.618 and if you divide a “Series” number by a “Series” number two along you will always get the answer 2.618 or put another way the inverse ratios of 0.618 and 0.38916 respectively.

Do you really need to know any of this? Well yes and no. Sometimes it puts things into perspective of you understand how and why they came to be used and it is of course extremely important to understand as much as possible of what is going on in the minds of the other market participants.

You will, if you have been trading for more than a short while, have come across the retracement levels of 38% and 62%. Guess where they were calculated from.

Yes, they are the rounded numbers derived from the Fibonacci series and portrayed as a percentage. Many traders freely state that when a retracement is underway, price will generally “turn” at one of these levels and if it does not, then it is no longer a retracement, it is a reversal.

Over time an extra level has been included which is 50% but as far as I can ascertain this is not a number that is attributed to our friend Leonardo.

So what is the truth of all of this?

It is true that Leonardo Pisano, was an Italian mathematician who lived in Pisa in the middle ages, and it is likely true that he was the first to document “The Golden Ratio” and “The Fibonacci Series”.

As to whether the Fibonacci levels will work when used as part of some forex trading systems or as a stand-alone trading aid is, I believe, largely dependent upon how popular the Fibonacci trading levels theory is at any given time.

If the price of a currency pair has reached 1.5670 from a low of 1.5282 and then price starts to retrace, and if the vast majority of traders who are active on this currency pair believe that the Fibonacci levels are a valuable trading aid, then price will most likely bounce at the 38% level of 1.5525 or at the 50% level or at the 62% level.

If on the other hand the majority of traders who are active on this currency pair believe that the Fibonacci levels have no trading aid value at all, then price will most likely settle at whatever is the current perceived market value of that pair.

Do I use Fibonacci levels?

Well to tell the truth, I do watch the levels, but only because so many traders believe that they work, and maybe this belief alone is enough to endorse their use as part of your forex systems.

If you are in debt up to your eyeballs, this story can encourage you to take control of your money. The Hildebrandt family of Wisconsin was able to effectively get rid of $106,000 in personal and credit card debt over 5 years.

The family owed $89,000 on a credit card and $17,000 to a family member. They had been current on all of their payments, but their credit card companies started to increase their interest rates. That’s when the Hildebrandts decided to get to work. They struggled with covering monthly payments and realized they needed to modify the way they lived.

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When many acquaintances were telling the family to declare bankruptcy, Russell and Kandy Hildebrandt decided it would be better to bite the bullet and pay back their debts. They began by meeting with a debt manager, that was able to help the family come up with a five-year strategy that would help them get rid of their debt completely.

They hadn’t lived an extravagant way of life when they went into debt. They rented a 1,000 square-foot townhome and only took trips to visit family members in the Midwest. Over several years, the family had slowly accrued debt because of unexpected expenses and medical bills. After some time, the family decided and committed to save and pay off their bills although they maintained that they would pay a 10 percent tithe on their income to their church.

By getting rid of discretionary spending, buying generic foods, purchasing necessities at thrift stores, and eliminating gift exchanges the family was able to send $2,000 each month to their debt management company and, in turn, to their creditors.

This amount was about 50 percent of Russell’s net pay, so Russell took on a second job. The family even made do with one car for a year until the family acquired a used van from Kandy’s family. Even though money was stretched, the family continually saved and, while their balances didn’t seem to be going down much, they kept their target in mind to be debt-free.

By 2008, the family only had one more year of payments to go and Russell began looking for a new home. They found a three-bedroom rambler on a rent-to-own agreement and moved in. The family is now free of debt and working on paying their house. Even though the debt is gone, Kandy is still a bargain shopper.

The Hildebrandts, through their extraordinary behavior and dedication to repay their debts, won the Professional Achievement and Counseling Excellence (PACE) 2009 Graduate Client of the Year Award.

This family showed that through hard work anything is doable. They accepted their debts and agreed that they needed to make some changes and they got to work. The Hildebrandts deserved to win the award, because they were accountable and took care of themselves. Well Done!! If you’re struggling with debt, you can do it too.

The author enjoys writing about politics, schools online, and online education. Diane Johnson graduated in Political Science from the University of Utah.

If you have poor credit, you can still get a credit card that is suitable to you. Just type creditcard applications for bad credit in your internet browser and many web sites will come up where you will see credit card deals. Most of these offers will have a quick and simple application process to be finished online. Be sure you do some research comparing card offers that interest you because there will be differences in what is offered.

There are both unsecured and secured creditcards accessible to people with credit that is poor. You should take into consideration the fees and interest that are charged when making up your mind on a credit card. Most people who are rebuilding their credit profile will decide on a secured card because it will be the only option available if your credit is really poor. Most cards that require a security deposit will have a creditcard limit that will be equivalent to the amount that is deposited. These types of credit cards are used mostly to rebuild credit, so you want to make sure the credit card company reports each month to the credit bureau. This will help to rebuild your credit if you make your payments on time because the report of the payment will be on your credit report. After several months of on time payments your credit score will show improvement.

As part of your creditcard applications for poor credit, issuers of creditcards will try to sell you credit monitoring in conjunction with the credit card. Many issuers of credit cards offer a free 30 day trial. A lot of people that sign up for the free trial often end up forgetting about it and end up being charged. Most likely you don’t need credit monitoring if you have poor credit, so you should take no notice of the credit monitoring offer.

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The 3 Step Programme to Cheap Loans

If you are looking to take out some form of loans finance then you need to be very aware that you’ll have to pay for the privilege of borrowing. There is always a price to pay when we borrow money – this will take the form of the interest rates you’ll be charged on top of the money you borrow in the first place. So, as you can imagine, it makes sense to make sure that you secure the lowest interest rates that you can so you pay back as little as possible in the end. Surprisingly enough, however, a lot of us don’t take up the chances that are out there to get cheap loans which means we simply pay more than we need to for the finance we need to raise. But, the fact is that it is incredibly simple nowadays to find and apply for cheap loans – you just need to follow three simple steps…..

1. Try for security
If you are a home owner then you will be able to take out secured loans. These loans work on the basis that you can use your home as security against the money you borrow which gives a lender a guarantee that their money will be paid back. This guarantee means that you will be viewed as less of a risk which in turn means that you’ll be given lower rates of interest. In fact, the difference between unsecured loan rates and secured ones can be quite marked with some lenders so you could save yourself an awful lot of money. If you’re not a home owner or don’t want to go down the secured cheap loans path then don’t worry – you can still save yourself some money if you play it smart.

2. Do your research
Nobody should take out the first loan they come across without doing some research into interest rates. There are hundreds of different types of loans available to us nowadays from all kinds of sources and there are some fantastic rates and deals knocking around. So, to get the lowest cost cheap loans it’s absolutely vital to make sure that you shop around as this is the way you’ll save yourself the most money.

3. Use the Internet
Shopping around for cheap loans deals doesn’t have to be a hard or time-consuming task. If you use the Internet, for example, then you can check out rates and deals from a range of lenders in just seconds. A good tip is to look at broker’s and/or comparison sites where you can compare rates and deals from multiple lenders at once as this will help you hone in on the best deal incredibly quickly and simply. And, you may be lucky enough to find a special low rate Internet-only deal into the bargain

If you follow these three steps then you will greatly increase your chances of finding and getting good cheap loans deals. Remember, you are doing this for you so you really should be doing it before you sign up to anything to make sure that you get the most value you can from any kind of loans package.

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Lenders take varying degrees of risk when extending loans to borrowers, since there is always the possibility that he or she will default on the loan, i.e. miss the payments or simply run away from the responsibility of paying it back. Even when a loan is secured against a purchase, such as a home mortgage, and they are allowed to take the house in lieu of payment, they still have to find a new buyer to recoup their loss. In worst cases, when the loan is unsecured, lenders ri…

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Lenders take varying degrees of risk when extending loans to borrowers, since there is always the possibility that he or she will default on the loan, i.e. miss the payments or simply run away from the responsibility of paying it back. Even when a loan is secured against a purchase, such as a home mortgage, and they are allowed to take the house in lieu of payment, they still have to find a new buyer to recoup their loss. In worst cases, when the loan is unsecured, lenders risk losing the entire amount of the loan, or have to go through the tedious and sometimes expensive process of going through a long collections process, which may or may not recover all of their money.

For these reasons, all but the most unscrupulous lenders are looking to minimize their risk when evaluating a potential borrower. A lender is looking for a borrower who gives every indication that he can repay the loan. So, as a borrower, you want to appear trustworthy and financially prepared to repay your loan in a timely manner.

One of the main ways you can establish a lender’s confidence is to present them with a strong credit history. Your credit history doesn’t need to show large credit limits or buying power, just consistent payment. Even if you only have a history of paying off small amounts and keeping small balances, this shows financial discipline and trustworthiness. You have proven yourself to be faithful to your commitment to pay back what you borrow.

In the eyes of a lender, good credit has more to do with habits and practices than credit limits and account sizes. If you have a history of paying off your credit card on time and a steady income, you can expect to receive a loan up to the limit your income supports.

The second major factor in a lender’s decision to grant you a loan is your income. Most lenders work on a percentage rubric of monthly income versus monthly payment size in determining whether a loan is right for you.

For instance, if your monthly income is $2,000, and the potential mortgage payment on a new home would be $1,000 per month, you are unlikely to have the income to support that mortgage. On the other hand, if you can show a potential for growth in your income, such as a pending promotion or obtaining an advanced degree, you may be able to convince a lender to bank on your bright future.

Note, however this is weighed against other financial responsibilities you may have, such as existing loans or balances on your credit card, your age, and the kind of profession you are in. If you are lucky, in the end, to get the approved loan, creditors may tuck in the “added risk” into your loan arrangement by charging higher interest. Thus, if you have a poor credit history, it may be of benefit to fix existing debts and establish a better rating before applying for a larger loan like a mortgage.

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