Thursday, November 15, 2007
Forex Currency Trading Made Easy!
Forex is a stock market that is based on the trade of Liquid currencies. Liquid currencies are the currencies of countries which have the stability to back up their currency with commodities such as gold and silver. Forex currency trading has become the working man’s stock choice because you are able to trade at your convenience 24 hours a day.Forex currency trading has become popular because it is backed by the world’s leading financial institution and you are playing the stock market based on cash and not just supply and demand, your placing your money in the market hoping the exchange rate you are buying into will come out in the end with the most profit. For example If you are placing your money being USD into the forex currency trading market and your currency of choice for the trade gains backing and increases in exchange rate, you make profit.Forex currency trading is effected by many different variables which change day to day. Some of these variables include economic and political conditions in each respective country offering their currency on the Forex market. If the economy takes a hit on any given day, you can be sure you will see a drop in the currency exchange rate and you will experience a greater loss. During war, if a specific country is at war with another country you can also guarantee there may be a greater loss due to the fluctuation of the exchange rate of the currency being traded.If a country sees an increase in economical gain, such as the opening of new trade routes or new commodities being traded internationally, then you would expect that the cost of the currency exchange for their currency would increase, making their currency worth more than the previous day. In turn, inflation in the currency exchange rate would prove profitable if the trader sold their shares high. As they say in the stock markets you want to buy low and sell high. If conditions become poor in a country whose currency is traded in the forex market then you may risk losing money. This is why forex currency trading has become a widely popular practice.Because of the ever-changing world we live in most people who participate in forex currency trading are doing so on a short trading timeline. Because of things that may happen with any one particular economy on any given day and even people believing some rumors about a countries prosper or demise, it is most common for forex currency trading participants to sell their shares in a more quick manner than they would do so in a standard stock market situation.If you place your money in the forex currency trading on the Japanese Yen, and then you hear that Japan just launched a new brand of electronics that will be popular all over the globe, or if you hear of 2 Japanese electronics companies completing a merger to provide consumers with a better product, you would assume by the rumor mill that the exchange rate of the Yen will be set to increase, and you will want to hold your place in that market, only to find out the exact opposite. For example, a automotive plant has decided to shut down production and lay off many of their employees, which would cause the exchange rate of the Yen to drop. Since you decided to hold on a rumor, and the opposite occurred, you would lose more money instead of reducing your risk by selling based on major trend and fact instead of rumor.Article Source: http://www.dk-article.com Web Directory: http://www.dk-seek.com
GAIN Capital Group Ranked 14th Fastest Growing Firm in Deloitte's Technology Fast 50 for New Jersey
Bedminster, NJ - September 10, 2007 - GAIN Capital Group, LLC, a leading provider of foreign exchange (forex) services for institutional and individual investors, has been named to Deloitte's prestigious Technology Fast 50 Program for New Jersey, a ranking of the 50 fastest growing technology, media, telecommunications, and life sciences companies in the area by Deloitte & Touche USA LLP, one of the nation's leading professional services organizations. Rankings are based on the percentage revenue growth over five years, from 2002–2006.GAIN Capital Group's increase in revenues of 829 percent from 2002 to 2006 resulted in a #14 ranking in the Technology Fast 50 for New Jersey. "Ours is a classic disruption story," commented GAIN Capital Group's CEO, Glenn Stevens. "GAIN targeted a large, underserved client base and successfully leveraged our proprietary technology to provide a more efficient and cost-effective way to access the $2 trillion a day global foreign exchange market," continued Mr. Stevens. "Providing retail investors access to the forex market has been the primary driver of GAIN's extraordinary growth over the past several years."The company experienced revenue growth in excess of 90% for the fiscal year ending December 31, 2006, the firm's fastest year-over-year growth since 2002 and the sixth consecutive year that the company has reported top line growth of 65% or more."To rank on Deloitte's Technology Fast 50, companies must have phenomenal revenue growth over five years," said Paul Mlynarski, Partner Deloitte Tax LLP, Parsippany, New Jersey. "GAIN Capital Group has proven to be one of the fast-growth success stories in New Jersey, and we applaud their dedication to making their vision a reality."Qualifications for the Technology Fast 50 include: operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006, headquartered in North America, and a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenue.Companies from the 16 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visitwww.fast500.comAbout GAIN Capital Group, LLCGAIN Capital Group is a market leader in the rapidly growing online forex industry. Founded in 1999 by Wall Street veterans, GAIN now services clients from more than 140 countries and supports average trade volume in excess of $100 billion per month. Headquartered in Bedminster, New Jersey, the company operates sales and support offices in New York and Shanghai.The company operates two full service web portals. FOREX.com (www.forex.com) services individual investors of all experience levels with a full-service trading platform, lower account minimums and extensive education and training. The company's flagship service, GAIN Capital (www.gaincapital.com) focuses on the needs of professional forex traders, including hedge funds and money managers.GAIN Capital Group, LLC and FOREX.com are registered with the National Futures Association (NFA) as a Futures Commission Merchant (NFA ID #0339826).About DeloitteDeloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte", "Deloitte & Touche", "Deloitte Touche Tohmatsu" or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
Trade data supports Yuan appreciation
That the balance of trade between the US and China is becoming more and more lopsided in favor of China should come as no surprise to anyone. In fact, economists yawned when the August trade data revealed a 33% jump in the Chinese trade surplus. As a result, many are beginning to argue that China can allow the Yuan to appreciate at a faster pace against the Dollar, since it is obvious that China’s export sector will not be materially affected by a stronger Yuan. In addition, China now exports more goods and services to the EU than to America, yet another statistic which supports the notion that China can allow its currency to appreciate against the Dollar (the implication here being that the Euro-Yuan exchange rate should be more important to China at this point). Finally, China’s inflation rate is now hovering around 6.5%, its highest level in over a decade. A more valuable Yuan would presumably make imports less expensive, thus lowering prices across the board for Chinese consumers. Bloomberg News reports:The Chinese currency is selling for about 7.51 to the dollar. It has risen almost 6 percent against the U.S. currency in the past year while falling more than 3 percent against the euro, leaving the overall competitiveness of China's exports little changed.
CONSUMER ADVOCACY GROUPS MOVE TO CONTAIN PAYDAY LENDERS
CONSUMER ADVOCACY GROUPS MOVE TO CONTAIN PAYDAY LENDERS
Consumer Advocacy groups have their guns trained on payday lenders. To most of these groups payday lenders are out to take advantage of poor people, the interests charged, in some cases as high as $ 35 for every $100 borrowed, are meant to keep the borrower in debt since most of them carry a lot of debt so they are unable to clear the payday loan on time resulting in extra charges. The advocacy groups are pushing for laws to control the industry. They want the interest rates to be reduced and controlled as well as allow the borrower to negotiate for a repayment plan if they are unable to pay the loan at no extra charge. Payday lenders are being attacked from all fronts the consumer groups want laws to be tightened to punish lenders who take advantage of customers by not disclosing all information about the loan to the customer. Some payday lenders are happy about the proposed laws, they view them as the way forward for the industry, and they believe that the laws will weed out the bad elements and give the industry the much needed legitimacy and credibility that is currently lacking.
Consumer Advocacy groups have their guns trained on payday lenders. To most of these groups payday lenders are out to take advantage of poor people, the interests charged, in some cases as high as $ 35 for every $100 borrowed, are meant to keep the borrower in debt since most of them carry a lot of debt so they are unable to clear the payday loan on time resulting in extra charges. The advocacy groups are pushing for laws to control the industry. They want the interest rates to be reduced and controlled as well as allow the borrower to negotiate for a repayment plan if they are unable to pay the loan at no extra charge. Payday lenders are being attacked from all fronts the consumer groups want laws to be tightened to punish lenders who take advantage of customers by not disclosing all information about the loan to the customer. Some payday lenders are happy about the proposed laws, they view them as the way forward for the industry, and they believe that the laws will weed out the bad elements and give the industry the much needed legitimacy and credibility that is currently lacking.
Trade data supports Yuan appreciation
Trade data supports Yuan appreciation That the balance of trade between the US and China is becoming more and more lopsided in favor of China should come as no surprise to anyone. In fact, economists yawned when the August trade data revealed a 33% jump in the Chinese trade surplus. As a result, many are beginning to argue that China can allow the Yuan to appreciate at a faster pace against the Dollar, since it is obvious that China’s export sector will not be materially affected by a stronger Yuan. In addition, China now exports more goods and services to the EU than to America, yet another statistic which supports the notion that China can allow its currency to appreciate against the Dollar (the implication here being that the Euro-Yuan exchange rate should be more important to China at this point). Finally, China’s inflation rate is now hovering around 6.5%, its highest level in over a decade. A more valuable Yuan would presumably make imports less expensive, thus lowering prices across the board for Chinese consumers. Bloomberg News reports:The Chinese currency is selling for about 7.51 to the dollar. It has risen almost 6 percent against the U.S. currency in the past year while falling more than 3 percent against the euro, leaving the overall competitiveness of China's exports little changed.
The Yen Also Rises
The Japanese Yen is finally appreciating, though how long the upward streak will last is anyone’s guess. These days, the Yen rises and falls on the whims of carry traders. However, the enemy of the carry trade is volatility and the Fed’s lowering of US interest rates injected enough uncertainty into the markets to send carry traders slowly towards the exit. As a result, currencies such as the Australian Dollar and New Zealand Kiwi, long popular with in carry trading circles, were quickly dumped as traders bought Yen to cover their positions. Whether the Yen can sustain its momentum depends primarily on the Central Bank of Japan. Bloomberg News reports:Carry trades utilizing the New Zealand dollar lost 1.9 percent today, according to data compiled by Bloomberg, after gaining 2.3 percent so far this week as the Federal Reserve reduced the U.S. rate a half percentage point to 4.75 percent.
Forex Currency Trading
Forex is a stock market that is based on the trade of Liquid currencies. Liquid currencies are the currencies of countries which have the stability to back up their currency with commodities such as gold and silver. Forex currency trading has become the working man’s stock choice because you are able to trade at your convenience 24 hours a day.Forex currency trading has become popular because it is backed by the world’s leading financial institution and you are playing the stock market based on cash and not just supply and demand, your placing your money in the market hoping the exchange rate you are buying into will come out in the end with the most profit. For example If you are placing your money being USD into the forex currency trading market and your currency of choice for the trade gains backing and increases in exchange rate, you make profit.Forex currency trading is effected by many different variables which change day to day. Some of these variables include economic and political conditions in each respective country offering their currency on the Forex market. If the economy takes a hit on any given day, you can be sure you will see a drop in the currency exchange rate and you will experience a greater loss. During war, if a specific country is at war with another country you can also guarantee there may be a greater loss due to the fluctuation of the exchange rate of the currency being traded.If a country sees an increase in economical gain, such as the opening of new trade routes or new commodities being traded internationally, then you would expect that the cost of the currency exchange for their currency would increase, making their currency worth more than the previous day. In turn, inflation in the currency exchange rate would prove profitable if the trader sold their shares high. As they say in the stock markets you want to buy low and sell high. If conditions become poor in a country whose currency is traded in the forex market then you may risk losing money. This is why forex currency trading has become a widely popular practice.Because of the ever-changing world we live in most people who participate in forex currency trading are doing so on a short trading timeline. Because of things that may happen with any one particular economy on any given day and even people believing some rumors about a countries prosper or demise, it is most common for forex currency trading participants to sell their shares in a more quick manner than they would do so in a standard stock market situation.If you place your money in the forex currency trading on the Japanese Yen, and then you hear that Japan just launched a new brand of electronics that will be popular all over the globe, or if you hear of 2 Japanese electronics companies completing a merger to provide consumers with a better product, you would assume by the rumor mill that the exchange rate of the Yen will be set to increase, and you will want to hold your place in that market, only to find out the exact opposite. For example, a automotive plant has decided to shut down production and lay off many of their employees, which would cause the exchange rate of the Yen to drop. Since you decided to hold on a rumor, and the opposite occurred, you would lose more money instead of reducing your risk by selling based on major trend and fact instead of rumor.Article Source: http://www.dk-article.com Web Directory: http://www.dk-seek.comSandra Stammberger is the editor ofCouk9. An online firectory focusing on finance, forex.
FOREX 101
For those unfamiliar with the term, FOREX (FOReign EXchange market), refers to an international exchange market where currencies are bought and sold. The Foreign Exchange Market that we see today began in the 1970's, when free exchange rates and floating currencies were introduced. In such an environment only participants in the market determine the price of one currency against another, based upon supply and demand for that currency.FOREX is a somewhat unique market for a number of reasons. Firstly, it is one of the few markets in which it can be said with very few qualifications that it is free of external controls and that it cannot be manipulated. It is also the largest liquid financial market, with trade reaching between 1 and 1.5 trillion US dollars a day. With this much money moving this fast, it is clear why a single investor would find it near impossible to significantly affect the price of a major currency. Furthermore, the liquidity of the market means that unlike some rarely traded stock, traders are able to open and close positions within a few seconds as there are always willing buyers and sellers.Another somewhat unique characteristic of the FOREX money market is the variance of its participants. Investors find a number of reasons for entering the market, some as longer term hedge investors, while others utilize massive credit lines to seek large short term gains. Interestingly, unlike blue-chip stocks, which are usually most attractive only to the long term investor, the combination of rather constant but small daily fluctuations in currency prices, create an environment which attracts investors with a broad range of strategies.How FOREX WorksTransactions in foreign currencies are not centralized on an exchange, unlike say the NYSE, and thus take place all over the world via telecommunications. Trade is open 24 hours a day from Sunday afternoon until Friday afternoon (00:00 GMT on Monday to 10:00 pm GMT on Friday). In almost every time zone around the world, there are dealers who will quote all major currencies. After deciding what currency the investor would like to purchase, he or she does so via one of these dealers (some of which can be found online). It is quite common practice for investors to speculate on currency prices by getting a credit line (which are available to those with capital as small as $500), and vastly increase their potential gains and losses. This is called marginal trading.Marginal TradingMarginal trading is simply the term used for trading with borrowed capital. It is appealing because of the fact that in FOREX investments can be made without a real money supply. This allows investors to invest much more money with fewer money transfer costs, and open bigger positions with a much smaller amount of actual capital. Thus, one can conduct relatively large transactions, very quickly and cheaply, with a small amount of initial capital. Marginal trading in an exchange market is quantified in lots. The term "lot" refers to approximately $100,000, an amount which can be obtained by putting up as little as 0.5% or $500.EXAMPLE: You believe that signals in the market are indicating that the British Pound will go up against the US Dollar. You open 1 lot for buying the Pound with a 1% margin at the price of 1.49889 and wait for the exchange rate to climb. At some point in the future, your predictions come true and you decide to sell. You close the position at 1.5050 and earn 61 pips or about $405. Thus, on an initial capital investment of $1,000, you have made over 40% in profits. (Just as an example of how exchange rates change in the course of a day, an average daily change of the Euro (in Dollars) is about 70 to 100 pips.)When you decide to close a position, the deposit sum that you originally made is returned to you and a calculation of your profits or losses is done. This profit or loss is then credited to your account.Investment Strategies: Technical Analysis and Fundamental AnalysisThe two fundamental strategies in investing in FOREX are Technical Analysis or Fundamental Analysis. Most small and medium sized investors in financial markets use Technical Analysis. This technique stems from the assumption that all information about the market and a particular currency's future fluctuations is found in the price chain. That is to say, that all factors which have an effect on the price have already been considered by the market and are thus reflected in the price. Essentially then, what this type of investor does is base his/her investments upon three fundamental suppositions. These are: that the movement of the market considers all factors, that the movement of prices is purposeful and directly tied to these events, and that history repeats itself. Someone utilizing technical analysis looks at the highest and lowest prices of a currency, the prices of opening and closing, and the volume of transactions. This investor does not try to outsmart the market, or even predict major long term trends, but simply looks at what has happened to that currency in the recent past, and predicts that the small fluctuations will generally continue just as they have before.A Fundamental Analysis is one which analyzes the current situations in the country of the currency, including such things as its economy, its political situation, and other related rumors. By the numbers, a country's economy depends on a number of quantifiable measurements such as its Central Bank's interest rate, the national unemployment level, tax policy and the rate of inflation. An investor can also anticipate that less quantifiable occurrences, such as political unrest or transition will also have an effect on the market. Before basing all predictions on the factors alone, however, it is important to remember that investors must also keep in mind the expectations and anticipations of market participants. For just as in any stock market, the value of a currency is also based in large part on perceptions of and anticipations about that currency, not solely on its reality.Make Money with Currency Trading on FOREXFOREX investing is one of the most potentially rewarding types of investments available. While certainly the risk is great, the ability to conduct marginal trading on FOREX means that potential profits are enormous relative to initial capital investments. Another benefit of FOREX is that its size prevents almost all attempts by others to influence the market for their own gain. So that when investing in foreign currency markets one can feel quite confident that the investment he or she is making has the same opportunity for profit as other investors throughout the world. While investing in FOREX short term requires a certain degree of diligence, investors who utilize a technical analysis can feel relatively confident that their own ability to read the daily fluctuations of the currency market are sufficiently adequate to give them the knowledge necessary to make informed investments.
Forex Market Snapshot
IntroductionThe following facts and figures relate to the foreign exchange market. Much of the information is drawn from the preliminary results of the 2007 Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity conducted by the Bank for International Settlements (BIS) in April 2007 and released on September 25, 2007. 54 central banks and monetary authorities participated in the survey, collecting information from approximately 1280 market participants."The 2007 survey shows an unprecedented rise in activity in traditional foreign exchange markets compared to 2004. Average daily turnover rose to $3.2 trillion in April 2007, an increase of 71% at current exchange rates and 65% at constant exchange rates. Against the background of low levels of financial market volatility and risk aversion, market participants point to a significant expansion in the activity of investor groups including hedge funds, which was partly facilitated by substantial growth in the use of prime brokerage, and retail investors. A marked increase in the levels of technical trading – most notably algorithmic trading – is also likely to have boosted turnover in the spot market." - BISStructure* Decentralised, over-the-counter market, also known as the 'interbank' market* Main participants: Central Banks, commercial and investment banks, hedge funds, corporations & private speculators* The free-floating currency system began in the early 1970's and was officially ratified in 1978* Online trading began in the mid to late 1990'sMajor Markets* The US & UK markets account for just over 50% of turnover* Major markets: London, New York, Tokyo* Trading activity is heaviest when major markets overlap5* Nearly two-thirds of NY activity occurs in the morning hours while European markets are open6* The Foreign Exchange Market in the United States - NY Federal Reserve* The Foreign Exchange Market in the United States - NY Federal ReserveAverage Daily Turnover by Geographic LocationSource: BIS Triennial Survey 2007Technical AnalysisCommonly used technical indicators:* Moving averages* RSI* Fibonacci retracements* Stochastics* MACD* Momentum* Bollinger bands* Pivot point* Elliott WaveCurrencies* The US dollar is involved in over 80% of all foreign exchange transactions, equivalent to over US$2.7 trillion per dayCurrency Codes* USD = US Dollar* EUR = Euro* JPY = Japanese Yen* GBP = British Pound* CHF = Swiss Franc* CAD = Canadian Dollar* AUD = Australian Dollar* NZD = New Zealand DollarAverage Daily Turnover by CurrencyN.B. Because two currencies are involved in each transaction, the sum of the percentage shares of individual currencies totals 200% instead of 100%.Source: BIS Triennial Survey 2007Currency Pairs* Majors: EUR/USD, USD/JPY, GBP/USD, USD/CHF* Dollar bloc: USD/CAD, AUD/USD, NZD/USD* Major crosses: EUR/JPY, EUR/GBP, EUR/CHFAverage Daily Turnover by Currency Pair
forex for us
FDI is very stable by nature as it usually enters for long-term projects. It also helps to generate employment and bring in the latest technological inventions/advancements. FIIs, on the other hand, usually help in developing capital markets.The Govt. should consider both as the same while finalizing capital expenditure for investment in companies/projects. Yet, due to the factors enumerated above, FDI is more suitable for a country like India as compared to FIIs as the Latter is short-term and volatile. Learned contributors in this book seek to explore various aspects of Foreign Direct Investment in country and how it is related to the economic development, employment generation, infrastructure development and the impact of FDI on a country as a whole with the advent of continuous economic reforms the economy has recorded average growth rate of around 6% in the last decade. One major reform that has taken place in the area of attracting foreign investment into India, via either the foreign direct investment (FDI) route or from foreign institutional investors (FIIs)
online forex
Forex is part of the bank-to-bank currency market known as the 24-hour Interbank market.Until recently, the forex market wasn't for the average trader or individual speculator. With the large minimum transaction sizes and often-stringent financial requirements, banks, hedge funds, major currency dealers and the occasional high net-worth individual speculator were the principal participants.Global Forex Trading is one of the world's most prominent leaders in online foreign exchange providing forex traders the highest level of service, software and accountability in the industry.As a primary market-maker in foreign currency trading, Global Forex Trading is able to offer smaller transactional sizes and allow traders of almost any size, including individual speculators or smaller companies, the opportunity to trade the same rates and price movements as the large players who once dominated the forex market.As a primary market-maker, Global Forex Trading offers individual and institutional clients instant click-and-deal trades on live currency price.The forex market removes the traditional barriers that exist in other markets without restricting the forex traders' ability to make a trade at the right times.
About forex
The dollar is under pressure from everything from economic problems to asset reallocation away from the U.S. and corporate accounting problemsI've entered a short for 70,000 usd/chf from 1.4563 targeting 1.45 , stop 1.4607Also , tomorrow chairman Greenspan reports to Congress and June Industrial Production figures come out with the expectation of a %0.4 rise along with June Capacity Utilization baring a consensus forecast for a %0.3 improvement.The 100,000 usd/jpy has been closed 6pips ahead. I'd hoped for a sustained appreciation to 116.40+ but doubt this will happen prior to the session close.It appears that trading is relatively thin this evening. Price formation among the majors is characterised by small average range variations in clearing prices at most intervals punctuated by 15 to 20 pip spikes, occuring in either direction, that are quickly returned. The latter is indicative of low liquidity.It appears that trading is relatively thin this evening. Price formation among the majors is characterised by small average range variations in clearing prices at most intervals punctuated by 15 to 20 pip spikes, occuring in either direction, that are quickly returned. The latter is indicative of low liquidity.The root of the problem is the U.S. current account deficit. If the U.S. doesn't have to attract an enormous amount of foreign capital, people wouldn't have to worry about domestic problems. One solution to this is a weaker dollar.
A forex scam is any trading scheme used to defraud individual traders by convincing them that they can expect to gain an unreasonably high profit by trading in the foreign exchange market, which would be a zero-sum game were it not for the fact that there are brokerage commissions, which technically make forex a "negative-sum" game. These scams might include churning of customer accounts for the purpose of generating commissions, selling software that is supposed to guide the customer to large profits,[1] improperly managed "managed accounts",[2] false advertising,[3] Ponzi schemes and outright fraud.[4] It also refers to any retail forex broker who indicates that trading foreign exchange is a low risk, high profit investment.[5] The U.S. Commodity Futures Trading Commission (CFTC), which loosely regulates the foreign exchange market in the United States, has noted an increase in the amount of unscrupulous activity in the non-bank foreign exchange industry.[6] An official of the National Futures Association was quoted[7] as saying, "Retail forex trading has increased dramatically over the past few years. Unfortunately, the amount of forex fraud has also increased dramatically..." Between 2001 and 2006 the U.S. Commodity Futures Trading Commission has prosecuted more than 80 cases involving the defrauding of more than 23,000 customers who lost $300 million, mostly in managed accounts. CNN also quoted Godfried De Vidts, President of the Financial Markets Association, a European body, as saying, "Banks have a duty to protect their customers and they should make sure customers understand what they are doing. Now if people go online, on non-bank portals, how is this control being done?" The highly technical nature of retail forex industry, the OTC nature of the market, and the loose regulation of the market, leaves retail speculators vulnerable. Defrauded traders and regulatory authorities can find it very difficult to prove that market manipulation has occurred since there is no central currency market, but rather a number of more or less interconnected marketplaces provided by interbank market makers.
forex
the massive range of choice and the general quality of the technology available will almost certainly confuse anyone that happens to be new to forex trading applications. Knowing where to start can certainly be daunting. Not only do you have to learn the ropes of forex trading, you also need to get to grips with the new software and analysis charts that can help you to make money. As a beginner, there is another forex trading applications option that does not require being thrown in at the deep end with the more experienced trader – the demo. Most companies offering a forex trading application do offer a demonstration version of it to help individuals new to the forex world find their feet before they begin to trade properly. They ay be referred to as mini accounts or micro accounts by some companies because a minimum amount that is usually around the $200 is required. However, some demos are free to use. They are not hard forex trading applications to get to grips with and will have you ready for the challenge of trading within weeks! Here’s how: 1. Click and follow the download instructions – This first step is simple for anyone having downloaded anything before. The forex trading applications software has to be loaded onto your computer before you can use it. Once it is on there, you can begin creating your account. 2. Create an account – You may be required to create an account with the forex trading applications so provide a user name and password. You will also have to pay any money they want for the maintenance of your account. This is usually the initial deposit for trading that is required. 3. Watch the market – Some forex trading applications will take you through an online tutorial but others will not. If the one you have chosen does then make sure that you complete it. If not, then read the help manual and sit and watch the system for a while to get to grips with what the forex trading applications do. 4. Test your skills – After watching the forex trading applications’ functionality for a while, try your own luck. Trade very small by using the charts and graphs There are real time updates so you will be informed of any changes to the market. However, this is the important phase of any demo because you need to make mistakes in order to put them right, and you may also want to begin a forex trading applications strategy so that you can let the way you trade evolve and find the best way for you to use it!
Welcome to Forex
Go to a dinner party and mention your involvement with forex and you?re likely to get a few baffled looks. Most people don?t have a clue what forex is or how it works. Worst of all, neither do most beginning forex traders. Understanding what makes these markets tick is a good step towards a successful trading record.Forex Trading - An introductionThe purpose of these articles is to introduce the forex market to you. As with many markets there are many derivative of the central market such as futures, options and forwards. In this book we will only be discussing the main market sometime referred to as the Spot or Cash market. The word FOREX is derived from the words Foreign Exchange and is the largest financial market in the world. Unlike many markets the FX market is open 24 hours per day and has an estimated $1.2 Trillion in turnover every day. This tremendous turnover is more than the combined turnover of the main worlds' stock markets on any given day. This tends to lead to a very liquid market and thus a desirable market to trade.1.Residence, Regulation, and Company Management StructureFOREX.com is a subsidiary of GAIN Capital Group, thus it does not have any independent registration. As for GAIN Capital Group, it is registered in FCM as a broker company, regulated by CFTC and has a membership of NFA. Founders and managers of the company are mentioned on its site - http://www.gaincapital.com/.2.The Trading PlatformThe company offers a JAVA trading platform of “FOREXTrader” which requires installation. There are web and mobile versions of it. Both versions enable you to watch the state of account and opened positions, but the mobile version does not support charts and makes the default a warrant. Stationary variant is the most functionally complete. It provides news, calendar of events and analytical materials.3.Company's Market PositionFOREX.com was created in 2003 to meet the needs of individual investors at FOREX market and for opening standard and mini accounts. No partners (liquidity suppliers) are mentioned.FOREX.com conducts only individual standard (from $2500) and mini (from $250) accounts. Traditional FOREX-brokers programs, such as «Introduced broker», «White Label» and services of confiding management are offered by the associated company GAIN Capital Group.4.Traders SupportThe site has a very interesting educational page. Demo-account is offered for 30 days only. Interactive support of users is done by free telephone lines available in different countries, and by e-mail. There is also an online form.The site supports English, Russian and Chinese.Analytical support includes both GAIN Capital Group's market and analyses of the largest participants of the market – Commerzbank, HSBC, Rabobank, Wachovia, BNP Paribas etc. The full version of analytics is offered only to real clients, but there are several examples on the site. A large set of paid analyses of other resources is offered also.5.Types of Services OfferedFOREX.com offers 16 currency pairs to trade – 7 majors and some of their cross-courses.The size of a standard lot is $100000 or equivalent sum and $10000 on a mini-account. A maximal credit leverage is given 100:1 for standard, 200:1 for mini-lots. Clients can reduce the size of credit leverage if they want and trade mini-lots from standard account. Minimum marginal requirements are 100% from an initial margin. The transfer of positions the next day is made on principle of SWAP, the values of rates of payments are not indicated. The exact sizes of spreads on the trading currency pair are not indicated.
Posted by Namlas at 6:03 AM 0 comments
the massive range of choice and the general quality of the technology available will almost certainly confuse anyone that happens to be new to forex trading applications. Knowing where to start can certainly be daunting. Not only do you have to learn the ropes of forex trading, you also need to get to grips with the new software and analysis charts that can help you to make money. As a beginner, there is another forex trading applications option that does not require being thrown in at the deep end with the more experienced trader – the demo. Most companies offering a forex trading application do offer a demonstration version of it to help individuals new to the forex world find their feet before they begin to trade properly. They ay be referred to as mini accounts or micro accounts by some companies because a minimum amount that is usually around the $200 is required. However, some demos are free to use. They are not hard forex trading applications to get to grips with and will have you ready for the challenge of trading within weeks! Here’s how: 1. Click and follow the download instructions – This first step is simple for anyone having downloaded anything before. The forex trading applications software has to be loaded onto your computer before you can use it. Once it is on there, you can begin creating your account. 2. Create an account – You may be required to create an account with the forex trading applications so provide a user name and password. You will also have to pay any money they want for the maintenance of your account. This is usually the initial deposit for trading that is required. 3. Watch the market – Some forex trading applications will take you through an online tutorial but others will not. If the one you have chosen does then make sure that you complete it. If not, then read the help manual and sit and watch the system for a while to get to grips with what the forex trading applications do. 4. Test your skills – After watching the forex trading applications’ functionality for a while, try your own luck. Trade very small by using the charts and graphs There are real time updates so you will be informed of any changes to the market. However, this is the important phase of any demo because you need to make mistakes in order to put them right, and you may also want to begin a forex trading applications strategy so that you can let the way you trade evolve and find the best way for you to use it!
Posted by Namlas at 6:02 AM 0 comments
A forex scam is any trading scheme used to defraud individual traders by convincing them that they can expect to gain an unreasonably high profit by trading in the foreign exchange market, which would be a zero-sum game were it not for the fact that there are brokerage commissions, which technically make forex a "negative-sum" game. These scams might include churning of customer accounts for the purpose of generating commissions, selling software that is supposed to guide the customer to large profits,[1] improperly managed "managed accounts",[2] false advertising,[3] Ponzi schemes and outright fraud.[4] It also refers to any retail forex broker who indicates that trading foreign exchange is a low risk, high profit investment.[5] The U.S. Commodity Futures Trading Commission (CFTC), which loosely regulates the foreign exchange market in the United States, has noted an increase in the amount of unscrupulous activity in the non-bank foreign exchange industry.[6] An official of the National Futures Association was quoted[7] as saying, "Retail forex trading has increased dramatically over the past few years. Unfortunately, the amount of forex fraud has also increased dramatically..." Between 2001 and 2006 the U.S. Commodity Futures Trading Commission has prosecuted more than 80 cases involving the defrauding of more than 23,000 customers who lost $300 million, mostly in managed accounts. CNN also quoted Godfried De Vidts, President of the Financial Markets Association, a European body, as saying, "Banks have a duty to protect their customers and they should make sure customers understand what they are doing. Now if people go online, on non-bank portals, how is this control being done?" The highly technical nature of retail forex industry, the OTC nature of the market, and the loose regulation of the market, leaves retail speculators vulnerable. Defrauded traders and regulatory authorities can find it very difficult to prove that market manipulation has occurred since there is no central currency market, but rather a number of more or less interconnected marketplaces provided by interbank market makers.
Posted by Namlas at 6:03 AM 0 comments
the massive range of choice and the general quality of the technology available will almost certainly confuse anyone that happens to be new to forex trading applications. Knowing where to start can certainly be daunting. Not only do you have to learn the ropes of forex trading, you also need to get to grips with the new software and analysis charts that can help you to make money. As a beginner, there is another forex trading applications option that does not require being thrown in at the deep end with the more experienced trader – the demo. Most companies offering a forex trading application do offer a demonstration version of it to help individuals new to the forex world find their feet before they begin to trade properly. They ay be referred to as mini accounts or micro accounts by some companies because a minimum amount that is usually around the $200 is required. However, some demos are free to use. They are not hard forex trading applications to get to grips with and will have you ready for the challenge of trading within weeks! Here’s how: 1. Click and follow the download instructions – This first step is simple for anyone having downloaded anything before. The forex trading applications software has to be loaded onto your computer before you can use it. Once it is on there, you can begin creating your account. 2. Create an account – You may be required to create an account with the forex trading applications so provide a user name and password. You will also have to pay any money they want for the maintenance of your account. This is usually the initial deposit for trading that is required. 3. Watch the market – Some forex trading applications will take you through an online tutorial but others will not. If the one you have chosen does then make sure that you complete it. If not, then read the help manual and sit and watch the system for a while to get to grips with what the forex trading applications do. 4. Test your skills – After watching the forex trading applications’ functionality for a while, try your own luck. Trade very small by using the charts and graphs There are real time updates so you will be informed of any changes to the market. However, this is the important phase of any demo because you need to make mistakes in order to put them right, and you may also want to begin a forex trading applications strategy so that you can let the way you trade evolve and find the best way for you to use it!
Posted by Namlas at 6:02 AM 0 comments
A forex scam is any trading scheme used to defraud individual traders by convincing them that they can expect to gain an unreasonably high profit by trading in the foreign exchange market, which would be a zero-sum game were it not for the fact that there are brokerage commissions, which technically make forex a "negative-sum" game. These scams might include churning of customer accounts for the purpose of generating commissions, selling software that is supposed to guide the customer to large profits,[1] improperly managed "managed accounts",[2] false advertising,[3] Ponzi schemes and outright fraud.[4] It also refers to any retail forex broker who indicates that trading foreign exchange is a low risk, high profit investment.[5] The U.S. Commodity Futures Trading Commission (CFTC), which loosely regulates the foreign exchange market in the United States, has noted an increase in the amount of unscrupulous activity in the non-bank foreign exchange industry.[6] An official of the National Futures Association was quoted[7] as saying, "Retail forex trading has increased dramatically over the past few years. Unfortunately, the amount of forex fraud has also increased dramatically..." Between 2001 and 2006 the U.S. Commodity Futures Trading Commission has prosecuted more than 80 cases involving the defrauding of more than 23,000 customers who lost $300 million, mostly in managed accounts. CNN also quoted Godfried De Vidts, President of the Financial Markets Association, a European body, as saying, "Banks have a duty to protect their customers and they should make sure customers understand what they are doing. Now if people go online, on non-bank portals, how is this control being done?" The highly technical nature of retail forex industry, the OTC nature of the market, and the loose regulation of the market, leaves retail speculators vulnerable. Defrauded traders and regulatory authorities can find it very difficult to prove that market manipulation has occurred since there is no central currency market, but rather a number of more or less interconnected marketplaces provided by interbank market makers.
Managed Forex Trading
For people that do not have the time to learn the Forex trading system, managed Forex trading is an option. With managed Forex trading, you are in control of the amount of money that you invest and also of your account. You have access to your account and your money through a customer login and personal password. The biggest advantage to managed Forex trading is that someone else does the work for you while you collect your profits.With managed Forex trading, a team of professionals will manage your account determining when to buy and when to sell the currencies based on the amount that you wish to invest. You will be able to actually monitor the various trading activity from your money invested with your personal account information. Most importantly, no-one else can access your money when you use managed Forex trading.Many places that offer managed Forex trading, allow you to cancel your account at anytime. The profits are 100% liquid and they even help you to trade out your IRA or other types of qualified plans so that you can decrease your actual tax liability. Expert managed Forex trading accountants will work with you and take the time to teach you what they are doing if you want the information. Otherwise, you can set monthly goals for your managed Forex trading account and the manager will try to obtain the realistic goals set and explain the risks that are involved. For those that do not have time to learn Forex trading and want someone else to manage their money, managed Forex trading is a very resourceful option to use.
Trading forex to advance your financial position
Everyday, currencies are traded in an international foreign exchange market, otherwise known as the forex market, with the main marketplaces (otherwise known as bourses) existing in the .................Everyday, currencies are traded in an international foreign exchange market, otherwise known as the forex market, with the main marketplaces (otherwise known as bourses) existing in the world’s financial centes New York, London, Tokyo, Frankfurt and Zurich. Historically, the only way to participate was from the trading floor of one of these bourses, but today, people can trade forex from anywhere through a secure internet connection and a PC.Today’s traders operate in a global network, taking positions in the market and making investment decisions based on either relative value between two currencies, or a particular currency’s actual price. Currency value fluctuations are constantly renegotiated through trading activity, and this activity, and the corresponding currency values are also indicators of the levels of currency supply. An example of market behaviour greater demand for the Euro might indicate a weakening supply. Low supply and increased demand will drive the price of the Euro up against other currencies like the dollar, until the price better reflects what traders are prepared to pay when short supply exists. Another way to look at this situation is this higher demand means it will cost more dollars to buy the Euro, which equates to a weakening of the dollar in comparison. Analysis of situations such as in this example forms the basis for a trader’s investment decisions, and they will purchase or sell currency accordingly.This should be remembered, as while many see the foreign exchange market as the vehicle for converting their home currency while travelling abroad, many others choose to use the market to advance their financial position and secure their future.
Trading is a Business
Joe Ross wrote a book in 1991 titled, "Trading is a Business", and I couldn't agree with him more.Look closely at any successful trader and you'll see that he or she looks at his or her trading as a business. They are disciplined, they are decisive and they are motivated to succeed. Most entrepreneurs fail and the basic reason is they don't have the inner-fortitude to get through the tough times. Every trader has experienced loss and has done something that later appears to be unfathomable. You stop when the dust settles and say, "What was I thinking?" Has that happened to you? Of course it has!!!Have you been using fundamental or technical analysis, but still find your profits disappear in front of your eyes time and time again? This is because there's a large gap between analysis and actually putting a trade on...this gap is known as the 'psychological gap'.Let me ask you...Are you finding excuses not to trade? Too groggy in the morning, need to mow the lawn before the sun comes up, need to do this, that, everything but trade!? Do you now sit with your cup of coffee in your hand every morning and simply watch your trading platform without making trades because your confidence has turned to doubt?Have you experienced trading losses that have affected your self-confidence? Is it so bad that you're now having trouble "pulling the trigger"??? Does your trading discipline waiver when markets get volatile? Are you doubting your trading system after a few losing trades?If so, you're not alone. If any of these things are happening to you, you need help, and you need help right now, if you want to stay in the game! And as traders, we all know that Trading is The Greatest Game in the world!All traders are asked to face their own emotions. Stock traders, futures traders, forex traders, and bond traders ...ALL TRADERS!Studies show that 90% of our mind's power is housed in the subconscious mind and is responsible for our behaviors, habits, and performance. Winning traders know this. That 90% can either work for you or against you. I'm here to tell you how winners make sure that the 90% is working for them!Having an effective trading system is not enough to be consistently successful in your trading. No trading method/style/system/strategy will work without the proper mental and emotional discipline. Whether you are a beginning or seasoned trader, it's still the same: trading is 20% trading skills and 80% disciplined mental skills. If you have the necessary trading skills developed but your trading is still losing money, you don't have the wrong trading system...you have the wrong mindset.In a poll taken among Traders a few months ago, it was determined that the biggest Mental/Emotional issue that prevents traders from consistently applying their tested trading system is the Fear of Failure. Inability to pull the trigger when a trade signal is given...or when you enter or exit a trade based on emotion (rather than following your system)...causes poor trading results.There is a way for you to change your mindset and develop all the necessary mental and emotional qualities for your successful trading.You can do it easily by simply listening to very powerful hypnotic suggestions that go straight into your sub-conscious. If you do this every day for two weeks for just 9 minutes a day, your trading skills will improve drastically because your mental and emotional discipline will improve. Your ability to follow your trading strategy without emotional reactions will increase your trading successes.Mental practice and guided mental imagery are the most effective techniques in mental training. The TradingMind Software training sessions relax the trainee just enough to deliver the lesson directly to the subconscious mind, where behavioral change takes place.TradingMind will help you create an internal sense of trading confidence. The more you train, the more the ideas and philosophies are ingrained and understood. And the deeper the new neuro-pathway that you're creating becomes, the faster your new (good) behavior will replace the old (poor) behavior.By sitting for a 9-minute training, once a day, for 2 weeks, you will transform any notions of the fear of failure into strength and confidence to follow your trading system. With this proven training, you'll eliminate fear and hesitation, while avoiding the dangers of overconfidence. You'll not only establish the discipline to follow your trading plan, but you will also replace your bad habits by creating new, good habits that will help you reach your financial goals.By becoming a self-confident and decisive trader who follows the rules of his trading system, you will enhance your trading profits and realize Joe Ross's statment that trading is a business and successful traders have the proper mental and emotional discipline to succeed.
Technical Analysis for Novice Stock Traders
Technical Analysis is a premier tool for many professional traders. It gives them a lot of information upon which they can base their trading decisions. The days that these tools were only available to the professionals have past. These days everyone who has access to the Internet can use technical analysis and many of the tools that are available to the public these days are more sophisticated than the tools used by professional traders only a decade ago."But I'm not technical." you might say. This would be a true statement for the majority of the population. The word 'technical' sometimes frightens people and causes them to stay clear of anything that might seem too difficult for them. There is no doubt that this gives at least a partial explanation why so many private investors don't use technical analysis in their buying and selling decisions. Technical analysis is a premier tool for many professional traders. It gives them a lot of information upon which they can base their trading decisions. The days that these tools were only available to the professionals have past. These days everyone who has access to the Internet can use technical analysis and many of the tools that are available to the public these days are more sophisticated than the tools used by professional traders only a decade ago."But I'm not technical." you might say. This would be a true statement for the majority of the population. The word 'technical' sometimes frightens people and causes them to stay clear of anything that might seem too difficult for them. There is no doubt that this gives at least a partial explanation why so many private investors don't use technical analysis in their buying and selling decisions.When it comes to technical analysis the word 'technical' is slightly misleading to the general public. Of course it took a lot of technical market knowledge to put many of the tools and market indicators together, but you don't really need any technical background to benefit from these tools. You could say that all the hard work has already been done for you. In this respect using technical analysis is a lot like driving a car. Almost everyone can learn how to drive a car. When driving, one of the things you should keep track of is your current speed. Fortunately car manufacturers have equipped their vehicles with a nice little piece of technology that tells us the car's velocity. Putting that speedometer together took quite a bit of technical knowledge. However, we as drivers don't have to worry about that because it has been taken care of. We can just look at the display and have the information presented to us. Of course then it's up to us to interpret the information correctly.You don't necessarily have to understand exactly how a market indicator works as long as you can interpret its signals correctly. And that is not always as difficult as it seems. In many cases it may be a bit more complicated than reading the speedometer in your car, but after a while you will find it becomes second nature. These takes practice of course, but let’s face it, so does driving a car.With the variety of technical indicators and the large amount of technical terms it's easy to get overwhelmed. The best way to prevent this is to keep it simple and start small. A smart way to get better acquainted with technical analysis is to take a fairly simple indicator, for example a 50 day simple moving average. The second step is to start looking at different charts using only this one indicator. Not just two or three charts or ten. Start by going through at least a couple dozen charts. As you go through these charts you will start to notice certain patterns. Pattern recognition is something we as human beings are quite good at. We react to patterns in almost everything we do. Our brains are trained to recognize different patterns. When studying charts patterns are exactly what we are looking for. Once we start to recognize these patterns we can start assigning meaning to them. Some patterns clearly indicate that the market is bullish while others are typical for bearish market conditions. Of course this will not allow you to predict the markets but it will enable you to assess probability of certain outcomes. And this in turn will help you make better trading decisions.If you are not using technical analysis yet you may find that it is a valuable tool to help you make the right trading decisions. And if you are already using various indicators you know that there is always room for refinement.
Benefits of Forex Trading
There are many benefits and advantages to trading Forex. Here are just a fewreasons why so many people are choosing this market as a businessopportunity:1.LEVERAGE: In Forex trading, a small margin deposit can control a muchlarger total contract value. Leverage gives the trader the ability to makeextraordinary profits and at the same time keep risk capital to a minimum. SomeForex firms offer 200 to 1 leverage, which means that a $50 dollar margindeposit would enable a trader to buy or sell $10,000 worth of currencies.Similarly, with $500 dollars, one could trade with $100,000 dollars and so on.2.LIQUIDITY: Because the Forex Market is so large, it is also extremely liquid.This means that with a click of a mouse you can instantaneously buy and sell atwill. You are never 'stuck' in a trade. You can even set the online trading platform to automatically close your position at your desired profit level (limitorder), and/or close a trade if a trade is going against you (stop order).3.PROFIT IN BOTH 'RISING' AND 'FALLING' MARKETS: On the stockmarkets, you can only make money if shares are rising, but in economicrecession and falling 'bear' markets, there is little chance of making big money.Forex is different. One of the most exciting advantages of FX trading is the abilityto generate profits whether a currency pair is 'up' or 'down'. A trader can profitby taking a 'long' position, (buying the currency pair at one price and selling itlater at a higher price), or a 'short' position, (selling the currency pair and buyingit back at a lower price). For example, if you think the US dollar will increase invalue vs. the Japanese Yen then you will buy Dollars and sell Yen (go long). Ifyou think the Yen will increase in value against the Dollar then you will sellDollars and buy yen (go short). As long as the trader picks the right direction, apotential for profit always exists.4. 24 HRS: From Sunday evening to Friday Afternoon EST the Forex marketnever sleeps. This is very desirable for those who want to trade on a part-timebasis, because you can choose when you want to trade--morning, noon or night.5. FREE 'DEMO' ACCOUNTS, NEWS, CHARTS AND ANALYSIS: Most OnlineForex firms offer free 'Demo' accounts to practice trading, along with breakingForex news and charting services. These are very valuable resources for traderswho would like to hone their trading skills with 'virtual' money before opening alive trading account.6.'MINI' TRADING: One might think that getting started as a currency traderwould cost a lot of money. The fact is, it doesn't. Online Forex Firms now offer'mini' trading accounts with a minimum account deposit of only $200-$500 withno commission trading. This makes Forex much more accessible to the averageindividual, without large, start-up capital.
Why Forex Trading?
The FOREX Market never sleeps. A currency trader may take advantage of all market conditions at any time. There is no waiting for an opening bell. It is a 24-hour, continuous currency exchange that never closes, you can trade whenever you want: morning, noon or night. This is a very big advantage compared to stock trading with limited trading hours.No single entity one can control the marketThe Forex market has so many participants that no single entity, not even a central bank, can control the market price for an extended period of time. Even interventions by mighty central banks are becoming increasingly ineffectual and short lived, at the stock market, trade prices can be manipulted by stockbrokers and market makers.Large Liquidity in the FXWith $2.1 trillion changing hands daily, the FX market is extremely liquid. This means you can instantaneously buy and sell currencies at any offered market price. You can even set the online trading platform to automatically close your position at your desired profit level (limit order), and/or close a trade if a trade is going against you (stop order). Using a trailing stop can be a powerfull tool to maximize your profits.Low transaction costsThere are no brokerage commission fees for each FX transaction, for all the major currency pairs, the spread is around 3-5 pips and is the only cost. High Leverage FOREX investors are permitted to trade foreign currencies on a highly leveraged basis which could be up to 100 times their investment. An investment of US $1,000 controls US $100,000 of any particular currency. A small margin deposit can control a much larger total contract value. Trading potential in both rising and falling markets Trading currency allows traders to trade during rising and falling markets. One can just as easily "short" a particular currency as go "long", because currencies trade in "pairs". Thus, when you buy a particular currency, you are actually simultaneously selling the other currency in that particular pair. As the market moves, one of the currencies will increase in value versus the other. Interbank market The backbone of the Forex market consists of a global network of dealers. They are mainly major commercial banks that communicate and trade with one another and with their clients through electronic networks and telephones. There are no organized exchanges to serve as a central location to facilitate transactions the way the New York Stock Exchange serves the equity markets.
Forex Trading History
Foreign exchange dates back to ancient times, when traders first began exchanging coins from different countries. However, the foreign exchange itself is the newest of the financial markets. In the last hundred years, the foreign exchange has undergone some dramatic transformations.The Bretton Woods Agreement, set up in 1944, remained intact until the early 1970s. At this conference, representatives from 45 nations came together to discuss the future exchange system.The conference result in the formation of the International Monetary Fund.It produced an agreement that fixed currencies in an exchange rate system that tolerated 10% currency fluctuations to gold values, or to the dollar that was established as the Gold Standard.In 1971, the Bretton Woods Agreement was first tested because of uncontrollable currency rate fluctuations, by 1973 the gold standard was abandoned by president Richard Nixon, currencies where finally allowed to float freely. Thereafter, the foreign exchange quickly established itself as the financial market.Open 24 hours a day, 6 days a week, transactions in foreign exchange gained from about $70 billion a day in the 1980s, to more than $1.5 trillion a day in the year 2000.
Tuesday, November 6, 2007
Price hike in auto fuels unlikely
The government has as good as ruled out a hike in the prices of petrol and diesel “in view of the upcoming state elections”, even as crude oil prices hover tantalisingly close to the psychologically important $100 per barrel mark.
The oil ministry is instead considering additional issue of oil bonds to compensate the government-owned oil marketing companies, which are together losing around Rs 240 crore per day from selling petrol, diesel, LPG and kerosene at subsidised prices, a senior official in the petroleum ministry said.
Petroleum Minister Murli Deora told Business Standard late last week that the government had four options in order to offset the adverse affect of surging crude oil prices on the oil marketing companies — provide more oil bonds to the marketing companies, hike prices in petrol and diesel, cut excise duty on petroleum products and reduce import duties on crude oil.
The ministry official said that import duty on crude oil was also unlikely to be reduced. “The finance ministry is not in favour of it,” the official said.
The official also added the excise duty cut on petroleum products was a state subject and “we can at the most request state governments to consider it”.
Deora had said last week that a decision on oil prices would be taken in the next one week, a statement he reiterated today.
The government has agreed to bear 42.7 per cent of the total retail revenue loss of the three oil marketing companies during the year.
“If the revenue loss is higher than the current estimate of around Rs 54,900 crore for the year, we will have to increase the value of the bonds we give to the marketing companies,” the official said.
He added that if oil prices remained at the current level of close to $95 per barrel, the retail revenue losses for the entire financial year would be around Rs 60,000 crore.
Deora had met Prime Minister Manmohan Singh, Congress chief Sonia Gandhi and Finance Minister P Chidambaram last week, seeking relief from the high crude oil prices.
He had said that a decision on the oil prices would be finalised within a week. “There has been no official paperwork other than keeping the Cabinet informed on the global oil price movement,” the official said.
The Cabinet had earlier agreed to give the three oil companies — Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation — Rs 23,458 crore in the current financial year.
The oil ministry is instead considering additional issue of oil bonds to compensate the government-owned oil marketing companies, which are together losing around Rs 240 crore per day from selling petrol, diesel, LPG and kerosene at subsidised prices, a senior official in the petroleum ministry said.
Petroleum Minister Murli Deora told Business Standard late last week that the government had four options in order to offset the adverse affect of surging crude oil prices on the oil marketing companies — provide more oil bonds to the marketing companies, hike prices in petrol and diesel, cut excise duty on petroleum products and reduce import duties on crude oil.
The ministry official said that import duty on crude oil was also unlikely to be reduced. “The finance ministry is not in favour of it,” the official said.
The official also added the excise duty cut on petroleum products was a state subject and “we can at the most request state governments to consider it”.
Deora had said last week that a decision on oil prices would be taken in the next one week, a statement he reiterated today.
The government has agreed to bear 42.7 per cent of the total retail revenue loss of the three oil marketing companies during the year.
“If the revenue loss is higher than the current estimate of around Rs 54,900 crore for the year, we will have to increase the value of the bonds we give to the marketing companies,” the official said.
He added that if oil prices remained at the current level of close to $95 per barrel, the retail revenue losses for the entire financial year would be around Rs 60,000 crore.
Deora had met Prime Minister Manmohan Singh, Congress chief Sonia Gandhi and Finance Minister P Chidambaram last week, seeking relief from the high crude oil prices.
He had said that a decision on the oil prices would be finalised within a week. “There has been no official paperwork other than keeping the Cabinet informed on the global oil price movement,” the official said.
The Cabinet had earlier agreed to give the three oil companies — Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation — Rs 23,458 crore in the current financial year.
Business Objects
Choice Hotels Uses IBM Software and Business Objects to Drive Business Intelligence Deployment
One of the World's Largest Lodging Franchisors Chooses IBM and Business Objects for Enterprise Performance Management
SAN JOSE, Calif. - June 23, 2004 - Business Objects, (Nasdaq: BOBJ; Euronext Paris ISIN code FR0004026250-BOB), a leading provider of business intelligence solutions and an IBM business partner, today announced that Choice Hotels International (NYSE:CHH), has selected Business Objects solutions to assist in accessing and analyzing data for its 5,000 franchise hotels. In addition, Choice Hotels plans to provide executives with access to key performance indicators regarding revenue, room rates, and occupancy figures on a daily basis via a customized dashboard powered by BusinessObjectsTM Dashboard Manager.
Choice Hotels, worldwide franchisor of Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, MainStay Suites, Econo Lodge and Rodeway Inn brand hotels, deployed a data warehouse, using the IBM Informix® Extended Parallel Server (XPS) Data Warehouse Engine. This offers a flexible solution to enable integration of data from multiple transactional sources at Choice Hotels, including Informix, Oracle and Microsoft SQL Server. With the data now aggregated, the company is deploying a business intelligence solution from Business Objects to access and analyze information from the data warehouse to help manage and improve enterprise performance.
According to Jonathan Prial, vice president, marketing, information management, IBM, "As the database at the heart of Choice Hotels' data warehouse, IBM provides the security, scalability and openness required to manage a multi-vendor infrastructure. The combination of IBM and Business Objects applications will enable Choice Hotels to run an enterprise-class business intelligence solution while protecting their existing IT investments."
In the first phase of its business intelligence deployment, Choice Hotels will provide users with a centralized reporting environment to track franchisee/property performance and operations, marketing and promotional campaigns, geographical trends, and current and forecasted reservations. For example, Choice Hotels will pull in information from its many hotels via satellite nightly, and then use Business Objects to build and deliver reports the next morning to company executives with the most up-to-date revenue and operational information. The marketing department will rely on Business Objects solutions to monitor guests who belong to the hotel's loyalty program, and gear specific promotional and discount campaigns to benefit them.
In addition, Choice Hotels plans to deploy dashboards using BusinessObjects Dashboard Manager to deliver key company metrics to the executive management team, allowing executives to track trends on a daily, weekly, monthly, or quarterly basis.
"Our implementation of Business Objects integrated with our IBM data warehouse gives us faster access to information, which we use to better service our franchisees and their guests," said Gary Thomson, senior vice president and chief information officer for Choice Hotels.
"Business intelligence allows our customers to make their enterprise performance management initiatives truly company-wide initiatives, so that every employee and every department in an organization can work together to reach and exceed corporate goals," said Chris Caren, vice president of corporate marketing at Business Objects. "Choice Hotels is an excellent example of a company that gets the idea of empowering its employees to improve the overall bottom line of the business. Business Objects EPM solutions help customers like Choice set goals, monitor metrics, analyze their business, decide a course of action, and then act in a timely manner."
About Choice Hotels InternationalChoice Hotels International franchises more than 5,000 hotels open or under development in 44 countries and territories under the Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, MainStay Suites, Econo Lodge, and Rodeway Inn brand names. For more information on Choice Hotels, visit the company's Web site at www.choicehotels.com.
Choice Hotels, Choice Hotels International, Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, MainStay Suites, Econo Lodge and Rodeway Inn are registered trademarks and service marks of Choice Hotels International, Inc.
About Business Objects
Business Objects has been a pioneer in business intelligence (BI) since the dawn of the category. Today, as the world's leading BI software company, Business Objects transforms the way the world works through intelligent information. The company helps illuminate understanding and decision-making at more than 44,000 organizations around the globe. Through a combination of innovative technology, global consulting and education services, and the industry's strongest and most diverse partner network, Business Objects enables companies of all sizes to make transformative business decisions based on intelligent, accurate, and timely information.
Business Objects has dual headquarters in San Jose, Calif., and Paris, France. The company's stock is traded on both the Nasdaq (BOBJ) and Euronext Paris (ISIN: FR0004026250 - BOB) stock exchanges. More information about Business Objects can be found at www.businessobjects.com.
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Business Objects, the Business Objects logo, and BusinessObjects are trademarks or registered trademarks of Business Objects SA or its affiliated companies in the United States and other countries.
More press releases
One of the World's Largest Lodging Franchisors Chooses IBM and Business Objects for Enterprise Performance Management
SAN JOSE, Calif. - June 23, 2004 - Business Objects, (Nasdaq: BOBJ; Euronext Paris ISIN code FR0004026250-BOB), a leading provider of business intelligence solutions and an IBM business partner, today announced that Choice Hotels International (NYSE:CHH), has selected Business Objects solutions to assist in accessing and analyzing data for its 5,000 franchise hotels. In addition, Choice Hotels plans to provide executives with access to key performance indicators regarding revenue, room rates, and occupancy figures on a daily basis via a customized dashboard powered by BusinessObjectsTM Dashboard Manager.
Choice Hotels, worldwide franchisor of Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, MainStay Suites, Econo Lodge and Rodeway Inn brand hotels, deployed a data warehouse, using the IBM Informix® Extended Parallel Server (XPS) Data Warehouse Engine. This offers a flexible solution to enable integration of data from multiple transactional sources at Choice Hotels, including Informix, Oracle and Microsoft SQL Server. With the data now aggregated, the company is deploying a business intelligence solution from Business Objects to access and analyze information from the data warehouse to help manage and improve enterprise performance.
According to Jonathan Prial, vice president, marketing, information management, IBM, "As the database at the heart of Choice Hotels' data warehouse, IBM provides the security, scalability and openness required to manage a multi-vendor infrastructure. The combination of IBM and Business Objects applications will enable Choice Hotels to run an enterprise-class business intelligence solution while protecting their existing IT investments."
In the first phase of its business intelligence deployment, Choice Hotels will provide users with a centralized reporting environment to track franchisee/property performance and operations, marketing and promotional campaigns, geographical trends, and current and forecasted reservations. For example, Choice Hotels will pull in information from its many hotels via satellite nightly, and then use Business Objects to build and deliver reports the next morning to company executives with the most up-to-date revenue and operational information. The marketing department will rely on Business Objects solutions to monitor guests who belong to the hotel's loyalty program, and gear specific promotional and discount campaigns to benefit them.
In addition, Choice Hotels plans to deploy dashboards using BusinessObjects Dashboard Manager to deliver key company metrics to the executive management team, allowing executives to track trends on a daily, weekly, monthly, or quarterly basis.
"Our implementation of Business Objects integrated with our IBM data warehouse gives us faster access to information, which we use to better service our franchisees and their guests," said Gary Thomson, senior vice president and chief information officer for Choice Hotels.
"Business intelligence allows our customers to make their enterprise performance management initiatives truly company-wide initiatives, so that every employee and every department in an organization can work together to reach and exceed corporate goals," said Chris Caren, vice president of corporate marketing at Business Objects. "Choice Hotels is an excellent example of a company that gets the idea of empowering its employees to improve the overall bottom line of the business. Business Objects EPM solutions help customers like Choice set goals, monitor metrics, analyze their business, decide a course of action, and then act in a timely manner."
About Choice Hotels InternationalChoice Hotels International franchises more than 5,000 hotels open or under development in 44 countries and territories under the Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, MainStay Suites, Econo Lodge, and Rodeway Inn brand names. For more information on Choice Hotels, visit the company's Web site at www.choicehotels.com.
Choice Hotels, Choice Hotels International, Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, MainStay Suites, Econo Lodge and Rodeway Inn are registered trademarks and service marks of Choice Hotels International, Inc.
About Business Objects
Business Objects has been a pioneer in business intelligence (BI) since the dawn of the category. Today, as the world's leading BI software company, Business Objects transforms the way the world works through intelligent information. The company helps illuminate understanding and decision-making at more than 44,000 organizations around the globe. Through a combination of innovative technology, global consulting and education services, and the industry's strongest and most diverse partner network, Business Objects enables companies of all sizes to make transformative business decisions based on intelligent, accurate, and timely information.
Business Objects has dual headquarters in San Jose, Calif., and Paris, France. The company's stock is traded on both the Nasdaq (BOBJ) and Euronext Paris (ISIN: FR0004026250 - BOB) stock exchanges. More information about Business Objects can be found at www.businessobjects.com.
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Business Objects, the Business Objects logo, and BusinessObjects are trademarks or registered trademarks of Business Objects SA or its affiliated companies in the United States and other countries.
More press releases
What Is Business Process Modelingby
What Is Business Process Modelingby
Michael Havey, author of Essential Business Process Modeling07/20/2005
"The boxes and arrows of outrageous fortune ...." When a business analyst stands at a whiteboard, sketches the flowchart of a business process as a cluster of boxes linked by arrows (apologies to Shakespeare), and asks the software team to make it run, Business Process Modeling (BPM)--sometimes known as Business Process Management--comes to the rescue. BPM is a set of technologies and standards for the design, execution, administration, and monitoring of business processes. A business process is the flow or progression of activities (the "boxes")--each of which represents the work of a person, an internal system, or the process of a partner company--toward some business goal.
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Over the years, the scope of business processes and BPM has broadened. Less than a decade ago, BPM, known then as "workflow," was a groupware technology that helped manage and drive largely human-based, paper-driven processes within a corporate department. For example, to handle a claim, an insurance claims process, taking as input a scanned image of a paper claims form, would pass the form electronically from the mailbox (or worklist) of one claims specialist to that of another, mimicking the traditional movement of interoffice mail from desk to desk. BPM today is an enterprise integration technology complementing Service-Oriented Architecture (SOA), Enterprise Application Integration (EAI), and Enterprise Service Bus (ESB). The contemporary process orchestrates complex system interactions, and is itself a service capable of communicating and conversing with the processes of other companies according to well-defined technical contracts. A retailer's process to handle a purchase order, for example, is a service that uses XML messages to converse with the service-based processes of consumers and warehouses.
Michael Havey, author of Essential Business Process Modeling07/20/2005
"The boxes and arrows of outrageous fortune ...." When a business analyst stands at a whiteboard, sketches the flowchart of a business process as a cluster of boxes linked by arrows (apologies to Shakespeare), and asks the software team to make it run, Business Process Modeling (BPM)--sometimes known as Business Process Management--comes to the rescue. BPM is a set of technologies and standards for the design, execution, administration, and monitoring of business processes. A business process is the flow or progression of activities (the "boxes")--each of which represents the work of a person, an internal system, or the process of a partner company--toward some business goal.
//');
//]]>
Over the years, the scope of business processes and BPM has broadened. Less than a decade ago, BPM, known then as "workflow," was a groupware technology that helped manage and drive largely human-based, paper-driven processes within a corporate department. For example, to handle a claim, an insurance claims process, taking as input a scanned image of a paper claims form, would pass the form electronically from the mailbox (or worklist) of one claims specialist to that of another, mimicking the traditional movement of interoffice mail from desk to desk. BPM today is an enterprise integration technology complementing Service-Oriented Architecture (SOA), Enterprise Application Integration (EAI), and Enterprise Service Bus (ESB). The contemporary process orchestrates complex system interactions, and is itself a service capable of communicating and conversing with the processes of other companies according to well-defined technical contracts. A retailer's process to handle a purchase order, for example, is a service that uses XML messages to converse with the service-based processes of consumers and warehouses.
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