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Thursday, September 27, 2007

Bad Credit Car Loans – Buy Car Without Financial Worries

A borrower with bad credit tag usually has to go through lots of hurdles from the lenders as such borrowers have risks. Some of them may even be refused a loan. so when such people want to buy a car with a bad credit they face impediments. The remedy however lays in applying for bad credit car loans that are made especially to people having a damaged credit history. All people who have in their names late payments, payment defaults, arrears or cases of county court judgments can find car loans with ease on meeting some conditions.

To cut risks the lender in offering car loans to bad credit people first of all want a security from the borrower. Home or any valued property or the very car you are buying can be pledged as collateral. Secondly the lender will take a good look at your present financial position. Your income and employment record with bank statements are looked thoroughly to ensure that you have adequate repaying ability. Secured Bad Credit Car Loans are of comparatively lower interest rate. Also you can borrow greater amount depending on value of collateral.

Unsecured bad credit loans are also available without collateral to the borrowers who do not own a property or do not want to risk it. But interest rate goes higher for such borrowers. The loan gives smaller amount. But secured or unsecured bad credit car loans are of shorter repayment duration ranging up to 5-7 years.

You are required to make down payment to the lender so that the lender is assured of your serious intentions of repaying the loan in time. Usually the practice is that you should be making 20 % of the car value as down payment. Before applying for the loan check your credit report for any errors in it and know your credit score to find a suitable loan as per your circumstances. For fast and cost free processing of the loan apply to an online lender after comparing many of them.

100% Remortgage – Use Home for Huge Borrowings

If you are paying high amounts each month towards existing mortgage and it is putting pressure on your finances then better opt for remortgage. A remortgage is meant for lowering your monthly outgoings so that you not only save money but repay the remortgage with ease. But at the same time you would like to borrow as much money as possible through remortgage but not each one is suited for it. it is only 100% remortgage that allows you borrowing an amount that is equal to full value of your home.

Thus 100% Remortgage is source of maximum borrowings against your home as it helps up freeing cash in your home. Know that your current home value in the market may have got a boost recently that will give you a huger amount. Such a larger amount as 100% remortgage can be put to variety of uses like renovating home; buying a new car, enjoying a holiday tour, throwing a lavish wedding party or the amount can be used for debt consolidation.

While taking 100% remortgage note that your aim is not just to borrow greater amount as per your home value but you should also search for a lower rate remortgage. Lower rate remortgage ensures that your monthly payments towards the loan installments get reduced substantially so that you repay the remortgage without delay and smoothly. So better take rate quotes of different lenders providing 100% remortgage and compare them thoroughly for finding a suitable deal for your circumstances.

Since you take 100% remortgage against you’re the same home the lenders have little risks. And so even bad credit people with various credit problems like late payments, arrears, payment defaults and CCJs are also given the remortgage. But clear the remortgage repayments in time to avoid debts and this way your credit score also will improve.

Forex Day Trading – the Illusion That Will See you Lose

Forex day trading is popular and there are numerous Forex day trading systems sold on the net - but you need to be aware of one illusion, if you buy a system or back test it yourself. This relates to “curve fitting” - If you don’t know what curve fitting is read on.

If you are going to trade any forex trading system you will normally test it on back data first and this is where you have to be very careful. Many “traders curve” fit – either deliberately or without thinking of the consequences.

The Illusion of Curve Fitting

“Curve fitting” involves tweaking the system to fit the data. A common occurrence is for forex traders to find their system doesn’t work first time around, so they create rules and parameters to make it work.

This was once likened by a trader I knew, to shooting at a barn door with a shotgun and then drawing a bull-eye around every shot AFTERWARDS to make each shot perfect.

Of course, no data sample EXACTLY replicates itself going forward and in real time trading the system collapses. To spot a “curve fitted” forex day trading is easy, look for lots of rules and parameters and unique ones used in certain instances.

The Worst Form of Curve Fitting

Many vendors who sell systems don’t even bother trying to curve fit.

They simply make up a track record and put simulated or hypothetical on the disclaimer!

This is done by lots of vendors, who are simply assuming the buyer will believe the simulated track record WITHOUT questioning it and by putting the disclaimer they can say what they want and as they are back testing and know the closing prices its easy to make a profit.

Clues to these forex day trading systems are marketing copy which says the following or similar – “picking tops in advance”, “earn a regular income”, “make x pips a day” and track records with extraordinary performance with no drawdown – all for a few hundred bucks!

These forex day trading track records should not be trusted and you should ask yourself:

If these systems are so good why are they being sold as the vendor could make so much money why bother me for a few hundred bucks?

Well now you know the answer.

The fact is you should only buy a track record in day trading if its real time and shown over two years and you won’t find one – Why?

Because forex day trading doesn’t work.

Why?

Because all short term volatility is random and you cannot get the odds on your side.

There are millions of forex traders trading trillions of dollars in equity daily and to say you can tell which way a market will go in a few hours is laughable.

If you don’t believe me look at the track records ( you will never find a real one) there all done in simulation and hindsight and anyone can make a profit doing that – problem is we have to trade in the real world and that means not knowing the closing prices!

The Appeal and the Reality

Day trading systems appeal to greedy novice or naive investors as it looks an easy way to make money but of course trading is not so simple – keep in mind 95% of traders lose and in forex day trading you can increase this number to 100%.

The logic is wrong and these systems will lose - the fact you cannot ever find a forex day trading system with a real time track record over the longer term proves the point.

If you want to trust a simulated track record and base your forex trading strategy on it, go ahead - but chances are in one form or another it’s been “curve fitted” and that makes it odds on to lose.

Forex Day Trading – the Illusion That Will See you Lose

Forex day trading is popular and there are numerous Forex day trading systems sold on the net - but you need to be aware of one illusion, if you buy a system or back test it yourself. This relates to “curve fitting” - If you don’t know what curve fitting is read on.

If you are going to trade any forex trading system you will normally test it on back data first and this is where you have to be very careful. Many “traders curve” fit – either deliberately or without thinking of the consequences.

The Illusion of Curve Fitting

“Curve fitting” involves tweaking the system to fit the data. A common occurrence is for forex traders to find their system doesn’t work first time around, so they create rules and parameters to make it work.

This was once likened by a trader I knew, to shooting at a barn door with a shotgun and then drawing a bull-eye around every shot AFTERWARDS to make each shot perfect.

Of course, no data sample EXACTLY replicates itself going forward and in real time trading the system collapses. To spot a “curve fitted” forex day trading is easy, look for lots of rules and parameters and unique ones used in certain instances.

The Worst Form of Curve Fitting

Many vendors who sell systems don’t even bother trying to curve fit.

They simply make up a track record and put simulated or hypothetical on the disclaimer!

This is done by lots of vendors, who are simply assuming the buyer will believe the simulated track record WITHOUT questioning it and by putting the disclaimer they can say what they want and as they are back testing and know the closing prices its easy to make a profit.

Clues to these forex day trading systems are marketing copy which says the following or similar – “picking tops in advance”, “earn a regular income”, “make x pips a day” and track records with extraordinary performance with no drawdown – all for a few hundred bucks!

These forex day trading track records should not be trusted and you should ask yourself:

If these systems are so good why are they being sold as the vendor could make so much money why bother me for a few hundred bucks?

Well now you know the answer.

The fact is you should only buy a track record in day trading if its real time and shown over two years and you won’t find one – Why?

Because forex day trading doesn’t work.

Why?

Because all short term volatility is random and you cannot get the odds on your side.

There are millions of forex traders trading trillions of dollars in equity daily and to say you can tell which way a market will go in a few hours is laughable.

If you don’t believe me look at the track records ( you will never find a real one) there all done in simulation and hindsight and anyone can make a profit doing that – problem is we have to trade in the real world and that means not knowing the closing prices!

The Appeal and the Reality

Day trading systems appeal to greedy novice or naive investors as it looks an easy way to make money but of course trading is not so simple – keep in mind 95% of traders lose and in forex day trading you can increase this number to 100%.

The logic is wrong and these systems will lose - the fact you cannot ever find a forex day trading system with a real time track record over the longer term proves the point.

If you want to trust a simulated track record and base your forex trading strategy on it, go ahead - but chances are in one form or another it’s been “curve fitted” and that makes it odds on to lose.