Foreign Currencies and Participant Rewards – The Simple Solution

Posted by Deb | Forex,Guest Post | Monday 21 August 2017 2:20 pm

Contests and campaigns as a media and marketing tactic are quite common on a global scale. Corporations from around the world rely on marketing campaigns which host international giveaways for the winners and participants in order to promote their brand, products and services.

Now while this may seem like a profitable marketing tactic to most, especially because this approach promises greater consumer reach and audience interaction, it can pose as a problem when it comes to rewarding the participants with their winnings.

How does a corporation figure out and effectively hand out the prizes or contest winnings to all the hopefuls that partook within the competition without seriously struggling through foreign currency rates and conversion hassles?

Think about it. If a United Kingdom based corporation hosted an international event where people from far off places such as Uganda or Kenya, India, or Afghanistan participated in and even won, how does the corporation justly hand over the winnings without stumbling upon the way, getting lost in proper currency worth, weightage and conversion calculations?
It’s easy.

Companies worldwide utilize different cloud-based reward management systems which allow customers to present various opportunities for corporations regardless of their location in the world. Businesses such as the Carlton Group in Toronto with their Global Rewards platform present remote opportunities for corporations to adequately reward their personnel and clientele in a variety of ways no matter where their services are located, or based.

The Foreign Currency Management

For international users of the Global Rewards Solutions, the company presents specific international programs tailored to cater to the needs of the clients based in far off locations. The build in system at the GRS automatically handles all the currency conversions and reward allocations based on the currency rates per country based on the closing of the day prior to the transaction.

All the services provided such as the payments, escrow balances, participant rewards regardless of whether they are Media based, Event tickets or experiences, gift cards, merchandise, vacation or travel opportunities, or even cellular service top-up rewards, all are properly calculated based on all the economic indicators for foreign currency exchange rates. They are then adjusted for the currency inflation, or deflation per currency rates and then presented to the clients.

The complete transparency through the quantifiable reports available through the Global Reward Solutions ensures that any international client is fully protected against any and all risks associated with investing within an international market.

The currency risk of investing in a foreign currency and having it balanced at your local currency exchange rate, liquidity risk or even the transaction costs which have the potential of fluctuating greatly are all well taken care of by the Global Rewards Solutions foreign currency management programs.

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Why Do Most Forex Traders Fail?

Posted by Deb | Forex,Guest Post | Wednesday 1 March 2017 6:51 pm

Here’s the truth – most forex traders lose money trading forex. And, if you have tried it on your own you have probably lost money too. I don’t know what happened in your situation that caused you to lose money but I do know, in general, what causes most people to lose money with forex.

There are three factors that I find with failing forex traders and I want you to do a “self analysis” to see if this is happening to you too:

1. Greed – this is a tough one because none of us want to admit to being greedy. However, MOST of us are to some degree! If you find yourself making money with forex but always wanting to “make more” only to find yourself eventually losing money then you are struggling with greed!

2. Unrealistic Expectations – Most people like forex because of the volatility and quick movements throughout the day. For some, this is no different than the thrill of gambling in a casino. If you are expecting to turn $1,000 into $10,000 in 30 days or less then you have VERY unrealistic expectations.

Your goal should be to steadily make positive gains day after day and let your account grow through compound interest. Give yourself a LONGER timeline to become successful and the pressure will drop and your chances of success will increase!

3. Poor Money Management – Put simply, this means trading too large of a position for your account size. If you are risking more than 1% of your account on any one trade you are trading too large. I personally trade MUCH less than 1% per trade because it helps to lessen my risk even further. I recommend you do the same!

And while we are on the subject …

Is Forex Trading Gambling????

ForexCharts

Many people who don’t understand forex immediately label it as “gambling” and guess what, most of them are right! And the reason they are correct is because traders violate the rules that professional gamblers follow EVERY DAY without fail.

What are those rules? Here are just some of the pro tips I’ve learned over the years.

1. Never trade based on emotion – If you “feel” like a trade is going to go in a certain direction based on feelings alone then WALK AWAY. Leave emotion at the door! Pro traders place a trade for one reason only – they see an event unfold and they know with a high level o certainty that an outcome will repeat after that event (most of the time). They are playing an edge based on TESTING.

2. Never trade outside of your plan – This means you should trade the HOURS, the FOREX PAIRS and the TIME FRAMES you have decided that are best for your trading style. When you trade outside of that bad things happen. Don’t do it!

3. Walk away from your computer – Forex is not a “game” that rewards you for long hours. In fact, it usually works just the opposite. I guarantee that the more time you spend on your computer the more trade setups you will magically “see” and take. Taking MORE trades in forex will not reward you. Take just enough to make your profits and then WALK AWAY!!!!

Now it’s your turn. Look in the mirror and decide if you want to trade forex for a living or let fear hold you back! Then, make a decision to take a first step to a life of freedom!

Get more free tips instantly at: www.ForexAlerts.guru/free

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FACTORS THAT AFFECT CURRENCY RATES

Posted by Deb | Forex,Guest Post | Sunday 22 January 2017 10:02 pm

Following please find a fewa factors which affect the fluctuation of foreign exchange rates. People who engage in money transfer internationally should stay updated on these factors and be able to decide the best times when they can carry out their money transfer. One can avoid losses in the currency exchange rates by opting for the flat exchange rates service that maintains a flat rate despite the market fluctuations.

Inflation Rates
Market inflation causes change in currency rates. The value of currency appreciates when a country is experiencing low inflation rates. When the inflation rate is low, good and services price will increase at a low rate. When a country is experiencing high inflation rates, the currency value depreciates and this leads to very high interest rates.

5857220614_2dab24d89a_bInterest Rates
Varying interest rates affect the value of a currency and also affects the rate of dollar exchange. When a country has high interest rates, its currency value appreciates because lenders make more profit, this results to increased foreign capital and high exchange rates.

Country’s Current Account/ Balance of Payments
When a country has loss on its current account because of earning less money from its exports and spending more on imports, this leads to depreciation. Balance of payments can lead to unstable domestic currency rates.

Government Debts
When a country has a lot of debts, it cannot acquire foreign capital which makes it experience inflation. Foreigners do research and if they foresee a debt in a certain country, they sell all their bonds in an open market not escape the consequences they might face in future. As a result, the exchange rate value of this country goes down.

Terms of Trade
Terms of trade are the ratio of price between imports and exports. A country has better terms of trade of the prices of exports are greater than prices of imports. This country will experience a high revenue, high currency demand and increased currency value.

Political stability and performance
Political and economic stability of a country determines the strength of its currency. Foreign investors are always attracted to countries that are stable both economically and politically. Countries that experience political and economic turmoil often miss a lot of investment from foreign investors. High inflow of foreign capital causes a country’s currency value to appreciate while countries facing political and economic crisis experience low currency value.

Recession
When countries experience recession, their interest rates fall drastically making it impossible to attract foreign investors. The currency values of such countries become weak leading to low exchange rates.

Speculation
Foreign investor will invest more in Countries that have a possibility of experiencing high currency values in future to plough back more profits. This leads to a high demand on that currency and the currency value rises up.

Georgina This guest article has been submitted by Georgina Cumber, a freelance finance blogger specializing in the foreign exchange and bad credit industry.

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How to Determine Exchange Rates

Posted by Deb | Forex,Guest Post | Thursday 29 December 2016 12:14 am

Exchange rates are never constant in the global market. They keep changing from time to time. In fact they are constantly changing every minute as viewed in the stock market graphs. The stock brokers and the foreign exchange experts always keep their eyes on the constant changes on the graphs on how the markets keep behaving. This allows them to know when to make purchases and sales of the money in order to change from one foreign currency to the other. The factors that affect the behavior of currencies in the international market mainly are the supply and demand at any given time. The factors that determine the supply and demand can be political stability in a country, the economic stability in a country and the security that exists within the borders of a particular country.

Exchange Money Euros Finance Currency Paper NotesThe interest rates depend on the factors mentioned above which influence the economic calculations which in turn affect the stability of the currency in the international market. The foreign exchange experts should be knowledgeable to know when to buy or not to buy a particular currency as a result of the conditions that exist within the country. The currency exchange services should include experts who have the capability of predicting the behavior of currencies in the international market as a result of the existing conditions within a country.

The first step in getting the best foreign exchange rates is to maximizing on the profits during the process of changing from one currency to the other is to seek the services of an expert in the international trade. This is a prudent idea for international business men who will keep dealing in large amounts of money from time to time. One cannot know when to get the best rates from the market apart from the stock brokers and the international financial advisors.

Another way is to compare the prices from various conversion agents within the same time duration. This is because comparing prices within a large time frame may not help because the prices keep fluctuating upwards or downwards all the time. The process of comparing the conversion rates should be done within the shortest time frame possible. If one takes a longer time they might think that they have got the rates at their lowest yet the prices may have changed immediately they saw them during the long time they took to make the survey. In currency exchange, it is better to do the comparison online or in shops that are very close together where one does not waste any time from one currency converter to the next. That is why the financial expert will do it better than the unskilled citizen who does not know where to start from.

Georgina This guest article has been submitted by Georgina Cumber, a freelance finance blogger specializing in the foreign exchange and bad credit industry.

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Online Forex Trading

Posted by Deb | Forex,Guest Post | Tuesday 29 October 2013 1:14 am

Is there anything today that cannot be done via the internet? Aside from smell (which they are working on) and taste, we find ourselves more and more living in a virtual world.

As little as 20 years ago, most investors invested through the services of a broker. Often orders were taken via the telephone, but mostly it took a personal visit to the broker’s office in order to get an order filled. Physical tickets were handled and floor runners ran to the market floor to place a trade.

Practically all trading is done today online. It is faster and more convenient and highly impersonal. Traders need never meet the broker who places the trade and are totally ignorant of whether or not their money is handled properly.

Forex, or foreign exchange, trading began in 1997 and was conducted by big players such as financial institutions, international banks and wealthy investors with substantial portfolios of over $1,000,000. Forex began as an online investment and continues to be the largest financial market in the world despite the fact that there is no physical marketplace.

Over the years, Forex brokers opened their doors to individual traders and with the lackluster performances of the stock and bond markets, many traders have moved their monies over to Forex.

Forex traders bet on the movement of the price of the currency. The U.S dollar is considered the strongest currency and the EUR/USD is the most popular currency pair traded.  A host of commodities such as gold and petroleum products are internationally priced in dollars and require payment in US dollars only.

Many factors determine Forex prices including economic factors such as interest rates and inflation. In addition, political issues and social changes create price fluctuations. Often these reactions are short lived but they are enough to make a Forex trader lose a substantial amount of money.  A surplus or shortage of a currency can cause major fluctuations in the Forex rate of any currency.

Forex markets are open 24/5 on a continuous 24-hour basis and are not governed by the rules of any particular country. However, in order to protect the individual investor, most Forex firms are regulated by a supervisory agency and must comply with the regulator’s stipulations.

Bitcoin trading operates in a similar nature to Forex trading.  This popular virtual currency can be traded online against other currencies and transactions can be completed in mere seconds.  Although there is no reputable regulation yet, there are many movements to have this form of trading regulated in the near future.

Online Forex

Anyone interested in trading Forex can open an account with the myriad of online Forex brokers. The sites are informative and interactive. They can provide the novice trader the information needed to get started. Some sites, however, can be overwhelming and often the beginner gets lost in the maze of data. It is advisable for any new trader to read the online review sites, such as Daily Forex, to compare the features offered by each brokers.

Before placing your first trade, it is essential that you understand the world of Forex. Online tutorials are usually provided on the broker’s site. In addition, free courses, such as FX Academy.com  are offered to those who wish to delve deeper into how Forex works in order to emerge as a successful trader.

The most important feature to look for is the broker’s free demo account. This provides you with the opportunity to trade for several months with virtual money. Practice makes perfect and the more experience you have under your belt before trading in a real account, the more chance you have of coming out ahead. Jump in too soon and you can expect losses.

When you do open a real account, ease into trading by using only the minimum amount required. Often this can be as low as $500. Try to avoid leveraging your account. Trading on margin is a sure way to lose your money and most brokers are only too eager to provide you with up to 200:1 leverage.  Don’t fall for that trap.

A trader must know when to pull out of the trading arena. It takes a lot of time and knowledge to predict the right time to buy or sell but here’s a rule of thumb: If you’ve made some money, don’t be greedy. Pull out while you can. If you have lost money, don’t wait to lose every cent in hopes that things will turn around. Pull out and use whatever funds are left to buy again later. Don’t let your emotions rule.

 

 

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Three Most Popular Chart Patterns in Forex Trading

Posted by Deb | Forex,Guest Post | Monday 26 August 2013 11:31 pm

There are many set-ups you can use when trading currencies. Many of them may appear like it’s sound and can bring you profits but be warned – there are many set-ups that can only result in a loss.

Forex traders can minimize some of the trial and error involved by using the chart patterns that have been proven by other forex traders as effective and have proven to be profitable set-ups.

Channel Pattern

The channel pattern is one of the most recognizable patterns in forex charts because it looks quite distinctive. It is two parallel trend lines that enclose price. These lines essentially govern the trend. Trades are usually entered that follow the trend – in this case, when the price bounces off one of the trend lines. Your profit target is usually within the domain of the opposite trend line. This set-up and strategy is quite profitable and if you have made the correct assumptions, you can ride the trend as it moves within the range and between the two trend lines. Even when the price penetrates the trend lines, there is still the opportunity to earn since the trader can then trade on the breakouts.

Double Top

A double top is another very recognizable set-up. The double top happens when the price of the currency tests the resistance level on two different occasions and is not able to break the resistance. When this happens the price now breaks and assumes a bearish movement. When a trader sees this pattern on his chart he will commence his trade when the price breaks the neckline and then the trend is joined when the price begins the pullback to the broken neckline. You will have a 73 percent chance of a successful trade using this pattern, which is quite high.

Asymmetric Triangle

The asymmetric triangle can be identified by looking the chart and looking for an asymmetric triangle where there is a trend line and one horizontal level that price will usually be able to penetrate. Trading with an asymmetric triangle pattern is similar to how you trade double tops – trade is entered after the currency price pulls back and goes to the broken horizontal level. But this trade is done with a strict stop loss and only of the risk/reward is 1:5:1. The asymmetric triangle has a success rate of 76%, which is very high.

These three patterns are quite effective in providing forex traders with a useful and tested way of plotting out a strategy and giving signals on when to enter into a trade. These three patterns pass the forex traders text of being profitable patterns regardless of the currency pair used.

About The Author

Mario Singh talks more about forex strategies at his website Askmariosingh.com

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eToro – Social Trading

Posted by Deb | Forex | Thursday 8 November 2012 11:52 pm

Some time ago I was contacted by a sales person who told me about eToro. I attended a webinar explaining the concept of social trading, and it sounded promising: Instead of relying for your trading solely on your own knowledge and estimates, you can rely also in real time on the decisions and judgement of other experienced traders. In eToro you can even decide to be lazy and let others decide for you: You can attach a certain amount of your investment to the account of some other trader in this system that seems to be doing well, and they will buy and sell for you according to this trader’s actions.

As the main trading tools in eToro are of Forex, and I am no Forex expert, I decided to open a demo account and see if the lazy attitude can work for me. In the demo account you get an initial account of $10000. I decided to choose 6 traders that seemed to be doing well according to the given statistics in eToro, and tie $1000 from my account to each of their accounts. The remaining $4000 I left idle.

My conclusion: NO. You can’t have totally “lazy” account. Maybe I just didn’t choose well, but what happened was that in the first 2 weeks my account grew nicely, but then it had a few drops. I didn’t touch any of the trading decisions, letting it go automatically with the decisions of my “gurus”, but that didn’t go well. In the first 2-3 weeks I was making money (or demo money), but than I lost most of it. Today, about 6 months after I opened the demo account, it is only worth $10150. 1.5% in 6 weeks may be not so bad, bad it could have been better. In the first 2 weeks I had made 3%.

That does not mean that I don’t recommend eToro, or social trading. eToro has some nice graphic and other trading tools, and being able to look “over the shoulder” of traders who are doing well is a wonderful asset. You just can’t leave your account to do everything automatically. In order to make a nice profit you should use the social networking but also the graphs and your own judgement in order to get out of your positions in the right time. You should also use the eToro learning tools to make yourself more knowledgeable about what you are trading.

If you are already an expert in what you are trading, you can also gain from eToro: If people choose you as their “guru” and decide to follow your actions, eToro would be paying you extra commissions, so that you will be profiting twice: From you actual trading, and from your followers.

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