Remember, people have been trading markets for a hundred and sixty years. The smart traders know there's going to be another trade. Cut your loses short and compound those winning positions.

RULE #2) ~ Thou Shall Not Trade FOREX Without Placing of a Stop Loss Order.

When you place a STOP order, right along with your ENTRY order, via your online trade station, you've just automatically prevented a potential loss from "running" too far.

Before initiating any trade, if you haven't already figured out at what point you would be wrong and would want to cut your loses or, at very least, reevaluate your position from sidelines, then you shouldn't be putting on trade in first place.

Show us a FOREX trader who doesn't use stop loss orders and we'll show you someone who loses a lot of money.

FOREX Trader and Freelance writer.

http://www.1-forex.com

Continue to follow this strategy until credit card with highest interest rate is completely paid off. In a similar manner, work on paying off your second credit card but remember to make minimum payments on remaining cards.

Besides above golden strategy, you can call your credit card companies to request for a lower interest rate. Due to stiff competition, many of credit card companies will readily agree. Lower interest rates mean you can pay off your debt much faster.

In some cases, credit card companies will not be willing to reduce your interest rate. This might be a good time to hop on internet and do some research on credit cards and get a new low interest card. Many companies will allow you an introductory rate for your new credit card.

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