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This will compound how fast you pay off the Target Debt by adding even more to the repayments you’re making. Step 6: Reward your progressYou want to track your Target Debt so you can see your progress along the way. You can also decide on milestones that you’re going to celebrate and reward yourself on. A reward doesn’t have to cost money but if it does then it comes from your previously allocated Strategic Spending Plan. This is an important step as it will keep your motivation going when you feel your willpower fading. Just like you’ve trained yourself to brush your teeth and shower, you can train yourself to manage your money.

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I’m not a kind of trader who opens a new position and then stares at the monitor for a couple of hours, hoping that his gaze can turn the market in a favorable direction.

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For example, if you are trading binaries and have invested $100 on a stock that you think will go up in price, if you are correct you know that you will receive a profit of $65 if you are correct, but if you are not correct you will lose your $100 and nothing more.

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In both situations the broker wins, so there is no conflict of interest between you and your broker as the broker makes money when you trade, not matter if you win or if you lose.

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Risk warning: Trading Forex foreign exchange or CFDs contracts for difference on margin and with other financial instruments carries a high level of risk and may not be suitable for all investors.

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