Day Trading Success-The Key is Survival

Written by Mike Reed

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The following guidelines will sound radical, but they have guided me in making my living from trading for many years.

1. If a trade doesn't go your way withinrepparttar first one to five minutes, get out. I usually get out within one or two minutes as soon as my perceived edge is gone.

2.If a trade goes against you inrepparttar 148260 first few seconds, begin drawing in your hard stop and/ or your target, trying to get out ofrepparttar 148261 trade at break even.

3. Never let your hard stops get hit. When it happens, you may want to take a break and get some fresh air.

4.Hard stops are adjusted to market conditions. Atrepparttar 148262 moment (July 6,2005) I am using 1.50 point hard stops onrepparttar 148263 SP futures.

5. Never move your hard stop away from your entry point, hoping that a bad trade will turn around.

6. If you find yourself *hoping* as you trade, it is a clear sign that you are not following good survival (money management) principles.

It will be impossible to put these principles together without a set of high-probability setups. Without good setups, trading is just a flip ofrepparttar 148264 coin.

Mike Reed is author of TradeStalker's RBI Trader's Updates. He has been trading the Market for 23 years. His support and resistance numbers have been published on the internet since 1996. Mike's nightly support and resistance zones are specific and incredibly accurate. He offers an unlimited free trial of his nightly TradeStalker RBI Trader's Updates.

Taxability of Social Security Benefits

Written by Richard A. Chapo

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The 2004 base amounts are:

$25,000 for single, head of household, or qualifying widow/widower with a dependent child $25,000 for married individuals filing separately who did not live with their spouses at any time duringrepparttar year $32,000 for married couples filing jointly $0 for married persons filing separately who lived together duringrepparttar 148238 year

If your benefits are taxable, you can avoid estimated tax payments and minimize your tax bill next year by having federal income tax withheld from your benefits. Simply complete Form W-4V, Voluntary Withholding Request, and file it withrepparttar 148239 Social Security Administration.

Richard Chapo is CEO of Business Tax Recovery - Obtaining tax refunds for small businesses for overpaid taxes. Discovery tax strategies and deductions in our tax articles section.

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