What is the best tactic for successful forex trading ?
I have been reading about trading forex but don’t know about a successful strategy that I should be using. I have read about so many different strategies and they all claim to be successful.if anyone is doing forex trading then you can share your experience with me and tell me your best stratagy.
The key is to acquisition a acceptable forex action and afraid to it. So, how do you acquisition a assisting forex trading action which works best for you? Here is are some guidelines.
3 Aureate Rules of Forex Trading Strategy
There are assertive guidelines that any forex trading action should chase and these are accurate for everyone. These guidelines are alleged the aureate rules of trading.
1. Trend is Your Friend
Always chase the trend. Majority of the forex trading strategies and systems concentrates on anecdotic trends and that is a adapted approach. Do not try to go adjoin the trend and depending aloft the ascent or falling trend, accept to go continued or abbreviate as appropriate. Resisting the trend will aftereffect in accident your money in best cases.
2. Ambition Setting for Individual Trades
Before you access a barter set a bright accumulation goal. This agency you apperceive aback abutting the barter and exit. Sometimes bodies get acquisitive and try to break in there with the achievement of authoritative added profits. New forex traders generally accomplish this mistake. They ability alike get few aerial accumulation trades alone to see that assuredly a huge bead in bill bulk antibacterial all their funds.
Similarly, if a barter goes adjoin you, do not try to authority on in the achievement that the bazaar will about-face aback your way. In such a case your forex trading action should be to cut your losses and get out and aback you set able ambition for anniversary barter you apperceive aback to quit. You can additionally accomplish use of stop losses to do this automatically.
3. Protect Your Funds
Forex trading is of advance a chancy business. However risking too abundant on one barter is a aberration you should avoid. Alike accomplished traders abatement in this trap. You may accept able aplomb on a accurate trade, but never accident too abundant money on a distinct trade. You may feel that annihilation will go amiss with that trade, but annihilation can go amiss in forex trading.
So how abundant accident is too much? The bulk of accident depends on your funds and the forex trading action you use. I would say risking 2% of your armamentarium per barter is a safer advantage admitting you could go up depending aloft the trade. However never accident added than 5% of your antithesis for a distinct trade. Additionally bethink that if you go with a anchored percentage, as your profits and funds access the bulk of money you accident in anniversary barter will increase.
The aloft three aureate rules will serve as a guideline aback allotment the best one from the forex strategies or while developing your forex strategy.
Anybody knows a successful forex strategy that lies on technical analysis only ?
I’ve been trading forex for a long time, i’ve learned a lot about technical analysis, indicators, charts and even some of fundamental analysis. i tried many strategies some i found on websites, forums and others invented by me but none of them worked. I know it’s a matter of risk managment too, i’m aware about all of this as i’m not new to forex, but i’ve seen some people in forex tournaments make lot of money, even it’s virtual money but this means they use a successful strategy or maybe a software. Anybody has experienced a successful forex strategy or a software can help plz ? Thanks in advance
I hope that I found an article that will probably answer your question.
Ivy league education versus successful experience, who gets job at investment bank?
2 people competing for the same job working for an investment bank. This job requires really one thing from their employees, people who can make a lot of money for the firm. Guy A and Guy B.
Guy A: Harvard Ivy league education, top of his class, followed by working at investment bank for 2 years followed by getting an MBA followed by worked as junior analyst at hedge fund for 5 years now seeking to work as an institutional trader at an investment bank. He followed the steps that is expected and recommended to seek a career as institutional trader.
Guy B: Went to a mediocre school, had a C average because he wasn’t interested in learning what he was learning. He’s obsessed with stock market, economy and loves trading and investing. However, he’s a rare success story when it comes to day trading, he’s self taught and really successful at it. Been trading since he was 17, currently 27, made lots of money for himself day trading, has a skill-set that he internalized with repetition, dedication and discipline. He has an adaptable mind set and has the ability to make and follow detailed plans. He follows strategies with ruthless consistency, the type of guy that has a truly superior system that can generate profits for his own account in any market environment. He has surprisingly high market beating returns year after year. Over the years made a lot of money for his personal accounts but now he wants to work for an investment bank doing institutional day trading for them and making more money.
Who would get the job if the bank is looking for people who are the best of the best and can make a lot of money for them which is what it’s all about, making money. So, who’d get the job, the successful experience or the superior education and good idea of how to trade and make profits but no guarantee he’s going to be great once he gets the job?
Guy A nine times out of ten, and a bit more. Guy b is a discipline and motivation problem, and has no reputation to protect. The reason those steps are expected is that you need to develop certain core skills. Guy B might be more happy as a stock broker because he is more likely to be a people person and more able to communicate a story to a potential client. Not only that, but while the investment banker will not be able to execute trades that he is involved in due to conflicts of interest, registered brokerage reps have their own accounts and are expected to be consistent in trades they develop with their clients, in their own accounts. Buy rec to client and buying yourself, good. Buy rec to a client and selling your position, bad.
Most investment banks will not give guy B’s resume a second look – he will never make it out of HR. Guy A might not get a second look either, but the odds go up, and additionally, he might very well have a networked contact through his alumni group or frat that will give a hiring manager a heads up on what to look for.
On the other hand, Guy A is too darned smart to make a good salesman, and guy B might have the drive it takes to stay for the 15 hour days commonly worked in the broker business to build a book of clients.
Try not to pound square pegs into round holes unless it is absolutely your dream shot and nothing else will do. If that is the case, start networking into a position where a hiring manager at the investment bank is looking for you specifically. You might better job hunt WITHOUT a resume. You will have a lot of round pegs that will make every attempt to get in your way because they don’t think you have paid your dues, and you need to figure out how to end run around them.
plz solve this case of principles of management?
Quality plus social conscious sells around the world
Starbucks was started in 1971 by three academicians in Seattle. Ten years later, Howard Schultz joined the company. During his trip to Italy, he realized that the coffee house could be much more than that of a simple place where you drink coffee. However his idea could not accepted by the owner of the company being frustrated, Howard Schultz looked for investors and eventually bought the company. When the company ventured outside the Pacific Northwest, the company first experience disappointment which were followed by mix to moderate successes.
Howard‘s dream was to not only provide a friendly environment for the customers, but also for its employees provide friendly service. This meant taking good care of its employees by providing health care benefits not only for its full time employees, but also for those working 20 hours or more. More over, employees could also purchase stocks in the company. In a nut shell, company pay and benefits attracted motivated employees with good skills.
Starbucks’aim was “to build a company with soul”. This meant that employees had to listen carefully to what customers want and meet their expectations. The customer-oriented philosophy was expressed in the mission statement which also emphasized that employees treating one another with dignity, enjoying diversity in the workplace, reflecting the local community, having high standard for coffee, being a good member of the community, and being, of course, profitable.
The mission statement resulted in strategies that led not only to domestic but also international expansion. In 2006, the star buck’s website displayed its presence in 16 international countries including Beijing, Shanghai and Hong Kong. The long-term goal was to have some 25000 stores in various locations. To achieve this long range aim, starbucks designed stores with pleasant ambience which customers, surrounded by coffee aroma, have been really enjoying. Also since2002, the company worked with T-mobile USA by providing internet access in the coffee shops. Besides offering caffeinated and decaffeinated beverages, a great variety of specialty coffees as well as teas ate offered.
Customers can also get juices, pastries, coffee mugs, coffee-making equipment and even CDs. More over, starbucks partnered with PepsiCo and Dreyer’Grand Ice cream and engaged in licensing agreement with Kraft Foods. Coffee is also offered at warehouse club, Marriot Host international, United Airlines and even at Wells Fargo Bank. Catalog sales were tried but did not succeed and consequently were discontinued. Starbucks also invested unsuccessfully in a number of dot.com companies.
The sense of social responsibilities guided the company’s actions. Not only did the firm participate in local charities to “give back” to its community in which it operates, but also applied this sense of responsibility to its purchasing practices. Most of its retail stores and hotels with which the company had licensing agreements, used Fair Trade Certified coffee.
Clearly, the company has been successful despite competition from coffee makers such as Proctor &Gamble, Nestle and Kraft General Foods. How, then, will Starbucks meet those and other challenges in the future?
1 Why were star bucks was so successful?
2 How does star bucks differ from other coffee houses?
3 How could the company attract non-coffee drinkers?
4 What other challenges may star bucks encounter in the future?
1. Ans.They provide a strong name brand in which everyone can recognize. Not to mention, they also provide a very strong, good cup of coffee at a reasonable price. Certainly not cheap, but definitely reasonable considering the quality of their product. Starbucks also provides a quick service for those on the go, with a great and friendly customer service team. All in all, pointing to a very successful business. Starbucks, the specialty coffee retailer, is one of the great 21st century American success stories. Considered as one of the most successful and admired companies today, Starbucks has grown from a single store in Seattle 33 years ago to 5,945 outlets in United States and 2,392 more in 28 countries. In fiscal 2003, the company posted revenues of $4.1 billion. Starbucks is a tremendous success because it capitalized on a concept that hadn’t existed before – the coffeehouse as a gathering place. It is not just a place to get a cup of gourmet coffee, but it has become a center for socializing and intellectual discussion, particularly among students and young urban professionals. Starbucks created a unique offering that was relevant and differentiated. It turned an ordinary and humble product into an extraordinary experience that customers are willing to embrace.
English speakers, could you check this short translation? It’s urgent, please?
Hi friends! I’m from Spain.
I wrote a response to my British friend.
As you know, the automatic translators are useful but never as good as the advice of a native speaker. I respect your language enough that maybe you could copy and paste this message and help me correct my grammar and style mistakes. Please make it sound more grammatical and fluent.
“John, it’s a grotesque idea! Of course my answer is no! Whoever compiled these phrases have insane minds who trade with death – as the widows of some musicians do through post-mortem marketing strategies. That’s horrible, I’m not going to participate…
Alright, you are successful in convincing me. I can think of an idea:
“I’ve already said a thousand times that I was sick and I wanted to go to the hospital.” LOL
Nooo! But it’s black humour, I’m representing a bad example for you! Forget it!”
The “trade with death” bit is a little strange. I might say, “profit from death” or maybe “make money off death.”
“Alright, you’ve convinced me. How about this?”
“This is a bad example!”
Reading through it again, “post-mortem marketing strategies” sounds a little bit weird. It’s immediately obvious what it means and I can’t really think of a better way to say it, so you’re probably fine there.
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