Foreign Exchange 4U - Currency & Forex

Think you know an honest Mortgage Broker? Think again! The nature of the retail mortgage industry is simply to take advantage of you. How do mortgage brokers hustle you into paying more? Most homeowners never even see it coming. Here?s how your mortgage broker is ripping you off and how you can avoid it.

Mortgage Brokers are nothing more than retail vendors reselling loans for wholesale mortgage lenders. Like any other retailer on the planet, your mortgage broker wants you to pay as high a premium as possible for your new mortgage loan. You?re already paying the Mortgage Broker origination fees for this loan. The origination fees you pay are typically 1-1.5% of the loan balance and are more than ample compensation for any Mortgage Broker however, just like any used car salesman, greed slithers into the equation.

Your Mortgage Broker receives a bonus from the wholesale lender for overcharging you. It?s true they even have a fancy term for it. This markup is called Yield Spread Premium, and here?s how it works. When you apply for a mortgage loan using a Mortgage Broker, the wholesale lender will evaluate your application and qualifies you for a specific interest rate. The wholesale lender provides your Mortgage Broker with a written guarantee of that interest rate. Now that your broker knows the interest rate you?ve qualified for, the hustle begins.

Just like a used car salesman sizing you up to overcharge you for an automobile, your mortgage broker sizes you up based on how knowledgeable or clueless they think you are. The Mortgage Broker writes you a separate interest rate guarantee on fancy company letterhead and starts a flea market pitch about what a great deal you?re getting. Think the interest rate the wholesale lender qualified you and the one your Mortgage Broker pitched you are the same? If you said ?No,? give yourself a gold star!

Based on how much the Mortgage Broker thinks you will overpay, that person marked up your interest rate. Mortgage Brokers do this because the wholesale lender pays them a commission for overcharging you. Suppose the wholesale lender qualified you for a 6.0% fixed interest rate mortgage of $225,000. The broker pitched you 6.75%, and you agreed to the loan. Your mortgage broker overcharged you .75% on the interest rate what?s .75% between friends you ask? This .75% amounts to your paying thousands of dollars in unnecessary interest, and that?s just in the early years of the loan.

What you don?t know is that the wholesale lender rewards your mortgage broker for hustling you on your new mortgage. For every .25% the Mortgage Broker overcharges you, the wholesale lender rewards them with a bonus of one point, or 1% of your loan amount. In the example above the broker overcharged you .75% on your interest rate and receives three points, or 3% of your $225,000. For ripping you off that Mortgage Broker receives $6,750 as a bonus from the lender! Still think Mortgage Brokers have a noble profession? The bad news for homeowners is that mortgage companies and banks do the same thing to their borrowers.

Because the Mortgage Broker already receives the origination fee for your new mortgage, Yield Spread Premium effectively doubles your costs for mortgage refinancing. Want to know how you can avoid paying double when mortgage refinancing? Homeowners that learn to recognize Yield Spread Premium markup in their mortgage loans can avoid paying it. To learn more about mortgage refinancing without overpaying including common homeowner mistakes to avoid, register for a free mortgage guidebook.

To get your free mortgage guidebook visit RefiAdvisor.com using the link below.

Louie Latour specializes in showing homeowners how to avoid costly mortgage mistakes and predatory lenders. For a free copy of “Mortgage Refinancing - What You Need to Know,” which teaches strategies to find the best mortgage and save thousands of dollars in the process, visit Refiadvisor.com.

Claim your free mortgage refinance information guide today at: http://www.refiadvisor.com

Mortgage Broker

You may be wondering why I have titled this article as “Unclaimed Money Texas”. Well, it appears that there are more inquiries for claims coming out of Texas. Why this is, I don't know, but the people of Texas appear to know how much is in the pot of unclaimed money in the United States. It is wise that you know too.

There are startling statistics about unclaimed money in the US. You will be surprised to learn how much is in the pot, and why it is difficult to discover the process in which to make a claim.

Here are some facts:

1. An estimated 7 out of 10 Americans are owed unclaimed money.
2. $1,000, $5,000… even $10,000 claims are not uncommon.
3. The U.S. Government DOES NOT have one central database for unclaimed money.
4. There is, right now, approximately 35 Billion dollars of unclaimed money, property, stock, cash and more. And the US Government is earning interest on it!

I think you'll agree that these facts ARE startling.

Look at fact 4 above. Notice that the US Government is earning interest on that money. I believe this is why it is made to be difficult to make a claim. If you do your research, you will find this difficulty to be true.

It is not only money that goes unclaimed, but property too.

There are some US States that take further advantage of this money and property. Unclaimed money has been known to be seized, and one State generates about $400 million in annual revenue from this source. Don't forget - this is YOUR rightful money being seized.

If you DO - and I seriously recommend that you do - look into making a claim, then beware of all the scams that are around. There are people and agencies that will make the claim for you… for a fee. Some of these services are legitimate, but many are not. For instance, some States put a cap on what these services can charge, so if you go this route, be aware of this.

I have done my research and found a great resource for the unclaimed money and property process. Alas there was no money for me, but I did find my mother $4200! Believe me, this was a GREAT feeling, maybe even better than if the money had been mine. And since then I have helped others find their unclaimed money too. It still amazes me how much unclaimed money there is out there. So my advice to you is to find out if you have a claim. It is YOUR money after all.

Paul Benstead is an online marketer and article writer on topics that interest him. For more incredible information on Unclaimed Money Texas please see http://www.unclaimedmoneytexas.easyhowto.net

Common pain is a reaction to any sort of detrimental stimulus that teaches us not to repeat the action that caused the pain in the first place. Neuropathic pain is very distinct from every other type of pain a patient may experience. Neuropathic pain, or chronic pain, is not a symptom of another disease, but is itself the disease. Usually if there is pain in any part of the body, nerves from there send signals to the brain about that pain. But when the nerves are damaged, they cause pain all the time.

The delivery of pain will be along a particular peripheral nerve or groups of peripheral nerves. Neuropathic pain can be distinguished from common pain by a neurologist, who is expert in knowing the difference.

Common characteristics of neuropathic pain are severe pain, profound burning sensation, weakness, lack of sensation, and itchy sensation. In general, such pain develops in a glove format, meaning that it starts in the fingers and progresses to the palms, then the arms, and so on. Sharp pains are caused not only by normal injuries, but also to minor ones that people without neuropathy would hardly notice. In chronic pain patients, the affected part of the body is often hypersensitive, so that if they were pricked with a pin on the affected area, they would experience intolerable pain.

Neuropathic pain may be caused by shingles, diabetes, or limb amputation. In the last of these, the patient feels pain in a leg or arm that is no longer attached to them. This is known as a phantom limb. Neuropathic pain can also result from failed back surgery. Normally, after a few days, the patient feels the pain, and in most cases it is persistent and gets worse by the day.

Neuropathic pain can be dangerous. For example, if a part of the patient?s body is numb, the patient would not feel the pain even if he/she gets hurt. One must be careful to check the numb parts for injuries, or else further injuries could result.

Neuropathy provides detailed information about neuropathic pain, alcoholic neuropathy, diabetic neuropathy, neuropathy medication and more. Neuropathy is the sister site of Congenital Scoliosis.

The scratch trade is probably the single most important key to success in short term scalping of the UK horseracing markets on Betfair. Being able to Lay and Back at the same price without loss, and without even having to pay commission on the round-turn, is such a benefit that it has to be used to the absolute maximum. Anyone that learns how to use this powerful get out of jail free card to it?s full effect will make money as a scalper. A scratch trade is a winning trade because it will often get you out of the market before the price turns against you. A scratch trade may cost you some profits but it?s the losses that they save you that are important.

The scratch trade is like a house edge that?s actually in your favour: using the bid and offer you can make a single tick profit if the market price doesn?t move at all, 2 ticks profit if the price goes in your direction, or you can break even if the price goes against you.

For example, the market is 2.34 bid and 2.36 offered and 2.36 is trading heavily and is about to go bid. You snap up the remaining offers at 2.36 making the market go 2.36 bid and 2.38 offered. Others join the queue behind you wanting to Lay at 2.36 making 2.36 a stable bid and as the market continues to trade at 2.36 you get matched on your full amount while the market price remains at 2.36/2.38. You are now in a position to join the offer trying to Back at 2.38 and attempt to make an instant 1 tick profit without needing the market to go up. The price can remain at 2.36/2.38 and as long as both sides are trading you have a chance of making an instant profit without needing the market to move at all. If you believe that the price is going to continue rising you can put your Back offer in a tick higher at 2.40. Now you are only asking for a 1 tick movement higher to have the chance of making a 2 tick profit. And if the price doesn?t go up to 2.40 but instead actually goes down to 2.34/2.36 you can quickly try and Back your position at 2.36 to get out with no loss.

To summarise that trade, if the market stayed the same you could have made a profit, if the market went up you would have made twice as big a profit, and if the market went down you had a good chance of breaking even. With odds like that you can choose your trades by flicking a coin and still make money. The skill is not in picking the direction of the market but in reacting to what the market does as soon as you have been filled. The advantage of taking such small profits is not only the speed with which you can realize such small profits, but also the fact that the bid and offer spread makes such a huge difference to your profits and losses. Couple that with being able to get it wrong but still not lose anything and you have the formula for being able to creep forwards slowly without needing to know anything at all about the horse that you are trading on.

With all the advantages that a short term trader has, such as the ability to hold back and pick his moments, all he needs to do is get only 50% of his trades producing a 1 tick profit, 30% of them breaking even and 20% of them taking a 1 tick loss. If you can do that you can be a full time professional trader on Betfair, unaffected by all of the factors that full time gamblers have to go through like losing runs, bad patches, bad luck, lack of confidence, chasing losses etc.

Scratch trades should be aggressively sought after by the short term trader. Far from being a waste of time or a missed opportunity for profit when the price goes your way just after you?ve got out, traders with the highest number of scratch trades are the most consistently profitable operators in any exchange environment because they are the least vulnerable to unexpected moves. They are not successful because they are always winning, but rather because they?re not losing.

Adam Todd spent 3 years as a full time trader on Betfair's UK horseracing markets, making over GBP100,000 profit from a starting bank of GBP200. You can see his complete daily results for the full 3 year period, proofed by Betfair.com, at his website http://www.racingtraders.com

It wasn?t until I started trading currency full time that I fully appreciated just how much movements in these markets can impact on our everyday lives. The most obvious is, of course, whenever we travel abroad and have to buy foreign currency. Regular travellers will probably be more aware of the fluctuations in the currency markets and the surge in visitors to the United States around Christmas (as a result of a weak dollar) showed just how sophisticated we have become. The exchange rate was almost 2 dollars to the pound which was in sharp contrast to Christmas 2005 when you would have been lucky to get 1.7 dollars for each pound. This may not sound much when exchanging a few hundred pounds but the difference is extraordinary if you were hoping to buy property or any other dollar asset (including American shares). For example a 200,000 dollar home in December 2005 would have cost ?117,647 whereas the same one a year later would have cost ?101,010, a difference of some ?16,000 pounds. The same principle applies with any other currency whether in Europe or internationally.

When buying an overseas asset, there are, of course, specialist foreign exchange brokers with whom it is possible to either forward buy or sell currency, therefore removing the uncertainty and fluctuation in the value of the asset, by locking in a favourable rate. In essence a rate is agreed and then fixed for any period, sometimes up to 2 years, and the rate is normally confirmed by a 10% deposit. The balance is generally only required on the delivery date of the contract. Remember this is a contract and there are harsh penalties for those who fail to deliver the money on the required date. In this way exposure to volatility in the markets can be removed and it is a technique that is commonly used by those buying property, boats and other major assets in foreign currencies. In addition to these futures contracts, it is also possible to hedge against market fluctuations using currency options. Perhaps you already own an asset in a foreign currency which you are trying to sell, but it is taking some time. You consider that currency movements may be unfavourable for you in the next few months, so you hedge (or take out some insurance) using a currency option.

Access to the foreign exchange market by ordinary investors and consumers has been possible, in part, to its deregulation, but mainly due to the dramatic changes in technology. When I first started trading in futures 15 years ago, I had a screen and satellite data feed, but had to ring a broker for a price. By the time he had spoken to the broker on the floor of the exchange, the trading opportunity had usually gone. Today all that is required is a laptop and broadband connection. Data arrives in real time and trading is done in the click of a mouse. The disadvantage of such speed is that it is possible to make mistakes, as I have done when closing out the wrong contract!

Currency is a great market to trade as it is available 24 hours a day, wherever you are in the world, only closing from Friday night to Sunday evening. Even if you have no intention of trading, if you own an overseas asset or are thinking or buying one, you should at least have an idea of which way a particular currency is trending from a chart of the currency pair. These charts are widely available on the internet and with a little time and effort it should be apparent which way the market is likely to move. The currency markets are one of the most strongly trending of any financial market. Once a direction is established the move tends to last for some time, and will only change direction on some major news announcements or a fundamental shift in world economies.

For this reason it is critical to have an understanding of the currency and its likely direction before investing overseas ? get it wrong and you could be caught on the wrong side for several months or even years!

Anna Coulling is a full time currency trader and investor, who specifically helps women to understand the financial markets. All the information on her web site is free. .For further information and examples please click on the following link : http://www.making-bread.co.uk

If you are in the process of shopping for a new mortgage or refinancing you existing mortgage, a mortgage broker may be able to help you find a good deal. You want to be careful with choosing a broker that will not take advantage of you however, a good broker can find loan offers you might not have access to on your own, especially if you have bad credit. Here are tips to help you when working with a mortgage broker.

Mortgage brokers have earned themselves a bad reputation however, this does not mean you cannot find a good broker that will help you find the best mortgage. Your challenge when finding a mortgage broker is to weed out the bad apples and find a good broker.

Mortgage brokers are not lenders they simply place homebuyers with mortgage lenders for a commission. The problem with using a broker comes up based on how that commission is paid. The broker?s commission is often paid by the lender, the borrower, or even by the points you pay to qualify for the loan. Ideally, if you work with a broker you?ll want the mortgage lender to pay the commission and not give any points you pay to the broker as a bonus. Ask your prospective brokers about their fees and how they are compensated make sure you read all of the fine print before entering into an agreement with any mortgage broker.

Mortgage brokers are legally permitted to be compensated for their services however, you don?t want to over pay for the broker?s service. Fees are always negotiable, if your broker tells you they are not negotiable, find another mortgage broker. Carefully review all of the fees associated with your new mortgage. Is the fee there for a reason, such as the appraisal of your home, or is someone just lining their pockets with your hard earned money? Mortgage brokers often disguise their fees in the spread of the interest rate they quote you and the actual interest rate from the mortgage lender.

Negotiate Relentlessly With Your Mortgage Broker

Everything is subject to negotiation when dealing with a mortgage broker competition between brokers if fierce, remember they need you more than you need their services. If the broker you are interviewing is difficult to work with or seems to be stalling or withholding information, simply find a new broker. As a homeowner you are the one paying the mortgage, you need to be satisfied that you are getting a good deal.

To lean more about your mortgage options, including common mistakes to avoid, register for a free mortgage guidebook.

To get your free mortgage guidebook visit RefiAdvisor.com using the link below.

Louie Latour specializes in showing homeowners how to avoid common mortgage mistakes and predatory lenders. For a free copy of “Mortgage Refinancing: What You Need to Know,” which teaches strategies to find the best mortgage and save thousands of dollars in the process, visit Refiadvisor.com.

Claim your free guidebook today at: http://www.refiadvisor.com

mortgage loans for dummies

A History of Money and Trade

To start with a history of money and debt, we must go back many years ago when people used to trade their wares for the things they wanted and needed.

In place of money or Federal Reserve Notes, you could trade a well made pistol for a cow, which you could eat or trade a remainder of for other items like clothing.

It didn't take long for people to realize there needed to be a more efficient means of trade. If you were a farmer, it was too difficult to carry baskets of fresh corn around to trade for a new horse. And, the person selling the horse might not want any corn at all.

A History of Money and Gold

So, people used gold for cash money, which always had a stable value, to trade for the items they wanted and needed. This way the horse dealer could always trade the gold received from the farmer for the clothing he really wanted instead of having to take the corn.

In a history of money and gold, this only posed one problem. Gold was very heavy to carry and hard to conceal. In the beginning of our banking history what people would do is leave their gold with a goldsmith.

The goldsmith would then give them a note, or paper money, that stated how much gold they had on deposit with the goldsmith (bank).

The farmer could then take this paper money note, say worth $50 to the horse dealer and buy a horse with it. The horse dealer could then spend this $50 paper note or go back to the goldsmith to pick up the $50 of gold that he had just acquired by selling the horse to the farmer.

Well, why would the horse dealer want to trade in the cash money note for the heavy gold, when he just wanted to trade it for clothing and food anyway. So, the note would continue to trade hands and very few people would ever go redeem it for the gold it was backed by.

It didn't take long for the goldsmith to understand this reality. So, here he is storing all of this gold for other people. Let's give it a value to make this next principle clear.

Let's say the gold he is storing is valued at $1,000 and there are $1,000 in real cash money notes backed by this real gold being circulated.

A History of Money and Loans

When many people wanted a loan for say a total of $1,000, he decided no one would notice and it would be real easy to lend them someone else's gold, well actually a funny money note which was a promise to pay gold upon redemption of the note. And, he'd only charge 10% interest. In a history of money and loans, this caused another problem. If everyone came in to redeem their notes, there would not be enough gold to pay back everyone because there was only $1,000 in real cash money notes backed by REAL gold.

That didn't matter to him, why not lend out to anyone who looks like they can repay? And, that year he lent out a total of $10,000 worth of newly created or you could say counterfeit, funny money notes. Oh well, who cares says the goldsmith, no one is coming in to get their gold anyway.

So, now there is $1,000 in real cash money notes backed by REAL gold, and $10,000 in funny money loans, thus $11,000 in total notes circulating. The goldsmith is charging his 10% or $1,000 per year of interest and don't forget every penny of the original counterfeited principal is his to keep. For simplicity, lets say he now stops lending!

A History of Money and Inflation

Lets look at what this causes. There is now ten times as much currency/notes floating around then there is real gold to back it. This causes the value of the original $1,000 to loose 90% of its value. Therefore to buy a horse now, it would cost $500. Thus, a history of money and INFLATION.

Everyone now has way more money then they did the year before, they feel rich. There are still the same amounts of products and services being sold, just a lot more dollars to bid for them, thus most prices go way up. This is called a boom.

Now the next thing this causes is for the $1,000 of interest and any portion paid to the principal of these loans to go directly into the goldsmith's pocket. Let's say over the course of the first year, the borrowers paid back $1,000 worth of principal and $1,000 in interest.

This means there is still $1,000 of real cash money notes backed by REAL gold. $9,000 in funny money loans outstanding, $9,000 in total notes circulating and the goldsmith has pocketed $2,000.

So, the goldsmith is now up $2,000 out of thin air, and there is now $9,000 in notes circulating which needs to pay back $9,000 owing. And the cost of everything has gone up ten fold. Now lets move forward another year.

Let's say over the course of the second year, the borrowers paid back $1,100 worth of principal and $900 in interest. There is still only $1,000 in notes backed by REAL gold. $7,900 in loans outstanding, $7,000 in total notes circulating and the goldsmith has pocketed another $2,000, totaling $4,000 thus far.

Let's say over the course of the third year, the borrowers paid back $1,200 worth of principal and $800 in interest. There is still only $1,000 in notes backed by REAL gold. $6,700 in loans outstanding, $5,000 in total notes circulating and the goldsmith has pocketed another $2,000, totaling $6,000 thus far.

A History of Money and Recession

People tighten up their spending for no apparent reason, but it is soley because there are less notes in circulation. So, prices start to fall. Businesses can't survive with the lower incomes, so they lay people off, thus giving even fewer people money to spend. And, now we have the beginning of a history of money and RECESSION. Year four, the borrowers paid back $1,300 worth of principal and $700 in interest. There is still only $1,000 in notes backed by REAL gold. $5,400 in loans outstanding, $3,000 in total notes circulating and the goldsmith has pocketed another $2,000, totaling $8,000 thus far.

Year five, the borrowers paid back $1,400 worth of principal and $600 in interest. There is still only $1,000 in gold. $4,000 in loans outstanding, $1,000 in total notes circulating and the goldsmith has pocketed another $2,000, totaling $10,000 thus far, but $4,000 is still owed.

With only $1,000 in total notes circulating, people obviously cannot continue to pay, so there is one thing left and that is the confiscation of their assets, and the remaining $1,000 in total notes circulating. Can you say BANKRUPTCY. (which is now almost impossible)

A History of Money and the FED

Oh, I know says the goldsmith, I'll just have to keep lending this counterfeit money backed by nothing so they can work hard for me for free, and I will own every asset on this planet for free. So the goldsmith starts to lend out money again and lends out $10,000 the first year which again causes the BOOM. And, on and on it goes.

The only difference today is that there is no limit to the lending, so there's continual money being created which forces us to fight each other to get our hands on it, to pay back our own share of debt, while the price of everything skyrockets endlessly.

And, the goldsmith's are now called the Federal Reserve System and the funny money counterfeit notes are called Federal Reserve Notes. In the 1930's there was roughly $30 Billion in gold at Fort Knox, and now we owe $7,937,046,735,823.

So, then I ask you fellow American, is this a history of money and debt that you thought was going on when you borrowed from Capital One or Providian? Find out how to get out of credit card debt by visiting us at http://www.avoid-new-bankruptcy-laws.com/

Mark A. Cella

Investing in foreign stocks or in a foreign stock market can be a complex and challenging undertaking. However, an American Depositary Receipt (ADR) makes the process much easier for an individual investor. First, let me explain what an ADR is, then I will explain how it works. An American Depositary Receipt is a foreign stock issued on an U.S. exchange by an investment bank denominated in U.S. currency. To make this happen, an investment bank will purchase a specific number of shares of the foreign stock listed on a foreign exchange. After purchasing the foreign stock, the bank will register the security to be issued with the SEC (Securities Exchange Commission) and then issue an ADR. One ADR represents one share of foreign stock.

The main advantage of buying an American Depositary Receipt rather than the foreign stock itself is the ease of the transaction. Many people are more familiar and comfortable investing on the U.S. exchanges. ADRs are a great way to invest abroad without having to convert U.S. dollars to many different currencies. Also, it can be difficult to learn how to purchase shares on a foreign stock exchange as an individual investor. Another advantage offered by an ADR is that if the foreign stock does pay dividends, the investment bank will convert the dividends to U.S. dollars and remit the payment to you. In addition, if the dividend is subject to foreign tax, the investment bank will withhold the tax so you don't have to worry about it.

In conclusion, American Depositary Receipts are a great way to invest in foreign companies. Since the ADRs are issued on U.S. exchanges they are very easy to buy and sell without having to convert currencies. However, keep in mind that even though you are investing on a U.S. exchange, the foreign companies profits are usually earned in a different currency. Therefore, if exchange rates were to move against you, it would hurt the value of your ADR. If you are considering investing in foreign stocks, ADRs should be part of your investment decision however, you should become familiar with all the risks associated with foreign investing before making an investment decision.

For more free investment information visit http://www.1stock1.com The website was created by Alan Reisch, a former investment representative with many years of investing experience both personally and professionally.

As European Union leaders meet in London to wrangle over European Union budgets and the Anglo-Saxon versus the French model, global investors have already voted and have been handsomely rewarded.

Many American investors seem to have written off Europe as a quaint low-growth low-return destination. This sort of attitude has caused them to miss some great opportunities. Let?s look at a few.

Ireland was always seen as on the fringe of Europe. Its population of 4 million people (the United Kingdom is 15 times larger) was always viewed as a bit of a laggard. Into the 1960s, citizens had to pay for secondary education, and as late as 1987, Irish gross domestic product was only 69% of the average of the nations that eventually formed the EU. The unemployment rate was 17%.

Suddenly, its economy took off. Average GDP growth rates in the 1990s were 6.9%, and by 2003, Irish GDP was 136% of the EU average with an unemployment rate of 4%. How can we account for this remarkable turnaround? As usual, it is not due to one event, but rather to a confluence of policies, timing and action.

In the late 1980s, a grand deal was struck: Labor would moderate its demands, freer trade was pursued and corporate tax rates were brought down to zero for multinationals investing in Ireland. Education was also noticeably improved for its relatively youthful population, especially in the technology area.

Within a short time, Ireland became the low-cost production base in Europe, and the money flowed in. Foreign direct investment was the key, and now 1,100 multinationals ? many in the tech sector ?established manufacturing and R&ampD operations in Ireland. More than 25% of all American investment in Europe goes to Ireland and Dell is its largest exporter. This, in turn, led to an export boom. The stronger economy also sharply increased labor participation, especially among Irish women.

The resultant rise of Dublin as a booming city and a major financial hub also led to a tourist boom with more than 6 million annual visitors. Instead of talented Irish workers migrating to the U.S. for opportunities, they were coming home in droves.

You can see how every action spins off and helps build sustained growth and momentum. Every action led to another in a virtuous cycle, but the key ingredient for success was undoubtedly massive inflows of capital ? capital from foreign direct investment, from EU subsidies, from exports, from stronger domestic capital markets and from migration. Good pro-growth market policies together with sizable amounts of capital can lead to economic miracles.

The challenge for Ireland now is to maintain its competitiveness and momentum in the face of greater competition and higher costs plus a potential property bubble. Congestion in Dublin, which represents 33% of the population and 40% of GDP, is a bottleneck on growth.

The New Ireland Fund is a closed-end fund that has done quite well. Over the last ten years, it has an average annual return of 13%, and during the last year, it was up more than 35%. It trades at a 10% discount to its net asset value and is managed by the Bank of Ireland

Next, let?s take a quick look at the host of this week?s EU summit, the U.K., which has benefited greatly from its openness to the world. London has grown in the last 20 years by 800,000 to reach almost 7.5 million. There are 300 languages spoken in London, and the number of nationalities is approaching 100. The U.K. is one of only three European countries, together with Sweden and Ireland, that have given workers from Eastern Europe free access to its labor markets. Since last May, 175,000 have accepted the invitation. The iShares MSCI United Kingdom Index is up 12% over the last 12 months.

While the American discussion of the flat tax doesn?t seem to go any further than the local Starbucks, many of the countries of Eastern Europe have already adopted one. The flat tax, combined with Eastern Europe?s low cost structure, access to new EU markets, and a strong work ethic have led to a surge in growth. Because Eastern European stock markets are thinly traded, why not use the iShares MSCI Austria Index as a proxy? Austria serves as a gateway to Eastern Europe and functions as its financial, transportation and logistical hub. Austria has also cut its corporate tax rate from 34% to 25%. The Austrian ETF is up 40% over the last 12 months.

Germany?s GDP growth has been anemic, but the iShares MSCI Germany Index is up 16% during the past year. The reason, firms such as ABB and Siemens are not waiting for the politicians to tell them what to do. They are searching the globe for opportunities and winning big contracts.

Even the broadest European indices are doing well. The iShares MSCI EMU Index is up over 15%, and the iShares S&ampP Europe 350 Index is up almost 16% during the past year. By comparison, the S&ampP 500 is up a little better than 6%.

Don?t buy into the media?s no-growth, no-opportunity label for Europe. It has some of the world?s best multinationals and controls 40% of the world?s wealth. Especially as U.S. markets continue to churn without making any forward progress, a new investment in ?Old Europe? could be a wise move for your portfolio.

For more information go to http://www.chartwellasia.com or call 877-221-1496.

Carl Delfeld is head of the global advisory firm Chartwell Partners and editor of the the “Asia-Pacific Growth” newsletter. He served on the executive board of the Asian Development Bank and is the author of “The New Global Investor.” For more information go to http://www.chartwellasia.com or call 877-221-1496.

1. Predicting and trading in different timescales

You must make sure that you match the timescale of your prediction of the price?s direction with the amount of time that you hold your position. For instance, a classic mistake would be if you are trading the favourite?s price 3 minutes before the race is due to start and you see that the price is being Backed heavily and is going down. You think that this horse has a really good chance of winning the race so you decide to Back also. WRONG!!! If you do that you are basing a short term trading decision on a long term view of the price.

If you smoke then smoke in front of the computer or not at all, nipping out for a cigarette will cost you thousands of pounds over the course of a year. And don?t completely leave the moment by chatting online to others, don?t even answer the phone or check out other websites. Concentrate dammit! For 3 and a half hours you are a trader and nothing else, you?ll be surprised how much better you trade when you don?t allow any outside distractions of any kind, letting yourself be absorbed by what you are doing and really seeing the movements and imagining what they might do next.

10. Wanting a profit of predetermined size

Many people decide how much they want to make out of a trade before they enter it and then set their exit price according to that rather than what it looks like they can reasonably get now. Wanting to make 2 ticks is great but putting your countertrade in 2 ticks higher than you just layed at and then sitting back waiting is gambling, not trading. It might go up, but it might go down, if you can?t get out straight away with a profit you should ask for a smaller profit. If you can?t get the smaller profit straight away you should scratch, and if you miss the scratch trade you should take a loss. If instead of all that you remain motionless with your countertrade still in at the same price waiting for your 2 tick profit then you are gambling and will have your share of profits but also your share of big losses.

Adam Todd spent 3 years as a full time trader on Betfair's UK horseracing markets, making over GBP100,000 profit from a starting bank of GBP200. You can see his complete daily results for the full 3 year period, proofed by Betfair.com, at his website http://www.racingtraders.com