How to be perfect salesperson

Salespeople often face rejection, and it can be tough to stay upbeat on every call. Here are some ways to build and maintain one's enthusiasm:


• Act enthusiastic and you will feel enthusiastic

• Call a satisfied client when you feel you need a lift

• Spend more time with enthusiastic people, and less time with complainers

• Set achievable short range goals, and celebrate after you've reached them

How to strenghten relationship

• Don't criticize, condemn, or complain.


• Give honest, sincere appreciation.

• Arouse in the other person an eager want.

• Become genuinely interested in other people.

• Smile.

• Remember that a person's name is to that person the sweetest sound in any language.

• Be a good listener. Encourage others to talk about themselves.

• Talk in terms of the other person's interests.

• Make the other person feel important - and do it sincerely.

Try these method in approching a problem

In approaching a problem in your department, try this method:


• Call a meeting with those persons who are familiar with this problem. It should include your own staff, of course, but it may be advantageous to invite persons from related areas who can contribute their ideas.

• Let all the participants know the subject to be discussed in advance to the meeting.

• Record all ideas, but do not attempt to analyze them at this time.

• After a period of incubation (anywhere from a half hour to a full day), call the team together, and run another 15 - 30 minute session. Record these new ideas.

• Have the team select three to five of the best ideas.

• Develop that idea.

Structure of Successful Presentation

The effective speaker should have a clearly organized and purposeful presentation. Here is the basic structure of a successful presentation:


• Opening - Favorably attract immediate interest from the audience

• Message - Clearly state your message or theme

• Evidence - Establish credibility and inspire respect and confidence by using convincing evidence

• Closing - Leave the audience with a favorable, memorable impression

First Kiss

Found by the fire, Glowing with heat.


Lying on the ground, Like a piece of meat.

You lifted me up, Into your arms.

Caressed my skin, Kept me from harm.



You opened my eyes, Said, "It's alright.

Just sit and relax, And hold me tight."

You lifted me up, And laid me down.

Upon the bed, Far from the ground.

Gross Domestic Product - GDP




What Does Gross Domestic Product - GDP Mean?

The monetary value of all the finished goods and services produced within a country's borders in a specific time period, though GDP is usually calculated on an annual basis. It includes all of private and public consumption, government outlays, investments and exports less imports that occur within a defined territory.



GDP = C + G + I + NX



where:



"C" is equal to all private consumption, or consumer spending, in a nation's economy

"G" is the sum of government spending

"I" is the sum of all the country's businesses spending on capital

"NX" is the nation's total net exports, calculated as total exports minus total imports. (NX = Exports - Imports)

The gross domestic product (GDP) is one the primary indicators used to gauge the health of a country's economy. It represents the total dollar value of all goods and services produced over a specific time period - you can think of it as the size of the economy. Usually, GDP is expressed as a comparison to the previous quarter or year. For example, if the year-to-year GDP is up 3%, this is thought to mean that the economy has grown by 3% over the last year.



Measuring GDP is complicated (which is why we leave it to the economists), but at its most basic, the calculation can be done in one of two ways: either by adding up what everyone earned in a year (income approach), or by adding up what everyone spent (expenditure method). Logically, both measures should arrive at roughly the same total.



The income approach, which is sometimes referred to as GDP(I), is calculated by adding up total compensation to employees, gross profits for incorporated and non incorporated firms, and taxes less any subsidies. The expenditure method is the more common approach and is calculated by adding total consumption, investment, government spending and net exports.



As one can imagine, economic production and growth, what GDP represents, has a large impact on nearly everyone within that economy. For example, when the economy is healthy, you will typically see low unemployment and wage increases as businesses demand labor to meet the growing economy. A significant change in GDP, whether up or down, usually has a significant effect on the stock market. It's not hard to understand why: a bad economy usually means lower profits for companies, which in turn means lower stock prices. Investors really worry about negative GDP growth, which is one of the factors economists use to determine whether an economy is in a recession.

Top 10 currency traders

Top 10 currency traders


% of overall volume, May 2008

Rank Name Volume

1 Deutsche Bank 21.70%

2 UBS AG 15.80%

3 Barclays Capital 9.12%

4 Citi

7.49%

5 Royal Bank of Scotland 7.30%

6 JPMorgan 4.19%

7 HSBC 4.10%

8 Lehman Brothers 3.58%

9 Goldman Sachs 3.47%

10 Morgan Stanley 2.86%

Forex Market Size and Liquidity

Market size and liquidity

The foreign exchange market is unique because of

• its trading volumes,

• the extreme liquidity of the market,

• its geographical dispersion,

• its long trading hours: 24 hours a day except on weekends (from 22:00 UTC on Sunday until 22:00 UTC Friday),

• the variety of factors that affect exchange rates.

• the low margins of profit compared with other markets of fixed income (but profits can be high due to very large trading volumes)

• the use of leverage





Main foreign exchange market turnover, 1988 - 2007, measured in billions of USD.

As such, it has been referred to as the market closest to the ideal perfect competition, notwithstanding market manipulation by central banks. According to the Bank for International Settlements,[2] average daily turnover in global foreign exchange markets is estimated at $3.98 trillion. Trading in the world's main financial markets accounted for $3.21 trillion of this. This approximately $3.21 trillion in main foreign exchange market turnover was broken down as follows:

• $1.005 trillion in spot transactions

• $362 billion in outright forwards

• $1.714 trillion in foreign exchange swaps

• $129 billion estimated gaps in reporting

Of the $3.98 trillion daily global turnover, trading in London accounted for around $1.36 trillion, or 34.1% of the total, making London by far the global center for foreign exchange. In second and third places respectively, trading in New York accounted for 16.6%, and Tokyo accounted for 6.0%. In addition to "traditional" turnover, $2.1 trillion was traded in derivatives. Exchange-traded FX futures contracts were introduced in 1972 at the Chicago Mercantile Exchange and are actively traded relative to most other futures contracts. Several other developed countries also permit the trading of FX derivative products (like currency futures and options on currency futures) on their exchanges. All these developed countries already have fully convertible capital accounts. Most emerging countries do not permit FX derivative products on their exchanges in view of prevalent controls on the capital accounts. However, a few select emerging countries (e.g., Korea, South Africa, India—[1]; [2]) have already successfully experimented with the currency futures exchanges, despite having some controls on the capital account. FX futures volume has grown rapidly in recent years, and accounts for about 7% of the total foreign exchange market volume, according to The Wall Street Journal Europe (5/5/06, p. 20).

chart

USD EUR JPY GBP CHF CAD AUD HKD


HKD 7.7506 11.2949 0.0843 12.8287 7.4528 7.186 6.6645

AUD 1.163 1.6948 0.0126 1.9249 1.1183 1.0783 0.15

CAD 1.0786 1.5718 0.0117 1.7852 1.0371 0.9274 0.1392

CHF 1.04 1.5155 0.0113 1.7213 0.9642 0.8942 0.1342

GBP 0.6042 0.8804 0.0066 0.5809 0.5602 0.5195 0.078

JPY 91.984 134.0483 152.2519 88.4504 85.2841 79.0943 11.8681

EUR 0.6862 0.0075 1.1358 0.6598 0.6362 0.59 0.0885

USD 1.4573 0.0109 1.6552 0.9616 0.9272 0.8599 0.129







Chart of september 10

Managment Fundamentals

Management Fundamentals

This training workshop is a tool for your leadership development. It is designed to help you create and accomplish your personal best, and to help you lead others to get extraordinary things done. At its core, leadership means setting goals, lighting a path, and persuading others to follow. But the responsibility entails much more. By accepting the challenge to lead, you come to realize that the only limits are those you place on yourself.

Upon completion of the program, you shall be able to :

1. Identify your leadership profile and explore how you can use this knowledge to create your own future

2. Assess your leadership competencies and learn how you can develop your strengths

3. Identify those additional skills and tools that can make you a better leader

4. Develop your ability to influence and communicate with others

5. Become a better problem-solver and decision-maker

6. Discover how you can prepare for and embrace the forces of change

7. Create a strategy to actively use these skills back in the workplace

Forex Mini Account

FOREX MINT TRADING
If you are just starting out in foreign currency trading then you will almost certainly want to start by trying your hand with a mini Forex trading account. Although it varies from one broker to the next, a Forex trading account can usually be opened with $2,500 or more. However, for those who are new to the world of currency trading then a Forex mini trading account can often be opened for as little as just $250.
A standard account will usually be operated in trading lots of 100,000 (meaning that you have to purchase 100,000 dollars, euros, yen etc.) whereas a mini Forex account you will normally allow you to trade in lots of just 10,000.
A mini Forex trading account operates by allowing you to use leverage in trading so that you are effectively trading with more money than you actually have in your account. The leverage available will vary between brokers, but is typically in the region of 200 to 1.
So, what does this mean?
If we assume that the minimum required to trade a lot is $10,000 then, with a leverage of 200 to 1, you would be able to trade with as little as $50 ($50 X 200 = $10,000) and so, with an initial deposit of $250, you would be able to trade up to 5 lots.
This is of course a very simple introduction to online mini account Forex trading and there is a little bit more to it than portrayed here.
Nevertheless, the principle behind Forex mini trading is simply to allow those who are just starting out in the world of foreign exchange trading to learn the ropes without investing too much money or taking too high a risk.
Just look for Forex mini online or a Forex managed mini account and find a broker who offers a Forex mini demo and the best mini Forex fully automated trading

RACE

RACE

“Quit! Give up! You are beaten!

They shout at me and plead.”

“There is just too much against you now

This time you cannot succeed.”

And as I start to hang my head

In front of failure’s face,

My downward fall is broken by

The memory of a race.

And hope refills my weakened will

As I recall that scene;

For just the thought of that short race

Rejuvenates my being.

Children’s race-young boys, young men-

How I remember well.

Excitement, sure! But also fear;

It was not hard to tell.

They all lined up so full of hope;

Each thought to win that race.

Or tie for first, or if not that,

At least take second place.

And fathers watched from off the side

Each cheering for his son.

And each boy hoped to show his dad

That he would be the one.

The   whistle blew and off they went,

Young hearts and hopes a fire.

To win and be the hero there

As each young boy’s desire.

And one boy in particular,

Whose dad was in the crowd,

Was running near the lead and thought

‘My dad will be so proud!

But as they sped down the field

Across a shallow dip,

The little boy so thought to win

Lost his step and slipped.

Trying hard to catch himself

His hands flew out to brace,

But mid the laughter of the crowd

He fell flat on his face.

So down he fell and with him hope

He could not win it how0-

Embarrassed, sad, he only wished

To disappear somehow.

But as he fell his dad stood up,

And showed his anxious face,

Which to the boy so clearly said,

“Get up and win the race.”

He quickly rose, no damage done,

Behind a bit,’ that’s all.

And ran with all his mind an might

To make up for his fall.

So anxious to restore himself

To catch up and to win-

Him mind went faster than his legs;

He slipped and fell again!

He wished then he had quit before,

With only one disgrace.

“I am hopeless as a runner now;

I should not try to race.”

But in laughing crowd he searched

And found his father’s face;

That steadily looks which said again;

“Get up and win the race!”

So up he jumped to try again

Ten yards behind the last-

“If I am to gain those yards “he thought,

I have got to move real fast.”

Exerting everything he had

He regained eight or ten.

But trying so hard to catch the lead

He slipped and fell again!

Defeat! He lay there silently

A tear dropped from his eyes-

“ there’s no sense running anymore;

Three strikes: I am out! Why try!”

The will to rise had disappeared;

All hope had fled away;

So far behind, so error prone;

A loser all the way.

“ I have lost, so what’s the use, “he thought.

I’ll live with my disgrace.”

But then he thought about his dad

Who soon he’d have to face.

“Get up “an echo sounded low.

“Get up and take your place;

You are not meant to failure here

Get up and win the race”

“With borrowed will get up.” It said

‘You have not lost at all.

For winning is not more than this:

“To rise each time you fall.”

So up he rose to run once more,

And with a new commit.

He resolved that win or lose

At least he would not quit.

So far behind the others now.

The most held ever been-

Still he gave it all he had

And ran as though to win.

Three times he’d fallen, stumbling;

Three times he rose again;

Too far behind to hope to win

He still ran to the end

They cheered the winning runner,

As he crossed ht line first place,

Head high, and proud and happy;

No falling, no disgrace

But when the fallen youngster

Crossed the line last place.

The crowd gave him the greater cheers.

For finishing the race.

And even though he came in the last

With head bowed low, unproud,

You would have thought he’d won the race

To listen to the crowd.

And to his dad he sadly said,

“I did not do too well.”

“to me , you won, “ his father said.

“you rose each time you fell.”

And now when thing seem dark and hard

And difficult to face.

The memory of that  little boy

Helps me in my race.

For all of life is like that race

With ups and downs and all.

‘AND ALL YOU HAVE TO DO TO WIN

IS RISE EACH TIME YOU FALL’

POEM BY- DEE GROBERG

Getting Started in Forex

Getting Started In Forex

The forex (FX) market has many similarities to the equity markets; however, there are some key differences. This article will show you those differences and help you get started in forex trading.

Choosing a Broker
There are many forex brokers to choose from, just as in any other  market. Here are some things to look for:

• Low Spreads - The spread, calculated in "pips",  is the difference between the price at which a currency can be purchased and the price at which it can be sold at any given point in time. Forex brokers don't charge a commission, so this difference is how they make money. In comparing brokers, you will find that the difference in spreads in forex is as great as the difference in commissions in the stock arena.
  Bottom line: Lower spreads save you money!
  
  
• Quality Institution - Unlike equity brokers, forex brokers are usually tied to large banks or lending institutions because of the large amounts of capital required (leverage they need to provide). Also, forex brokers should be registered with the Futures Commission Merchant (FCM) and regulated by the Commodity Futures Trading Commission (CFTC). You can find this and other financial information and statistics about a forex brokerage on its website or on the website of its parent company.
  Bottom line: Make sure your broker is backed by a reliable institution!
  
  
• Extensive Tools and Research - Forex brokers offer many different trading platforms for their clients - just like brokers in other markets. These trading platforms often feature real-time charts, technical analysis tools, real-time news and data, and even support for trading systems. Before committing to any broker, be sure to request free trials to test different trading platforms. Brokers usually also provide technical and fundamental commentaries, economic calendars and other research.
  Bottom line: Find a broker who will give you what you need to succeed!
  
  
• Wide Range of Leverage Options - Leverage is necessary in forex because the price deviations (the sources of profit) are merely fractions of a cent. Leverage, expressed as a ratio between total capital available to actual capital, is the amount of money a broker will lend you for trading. For example, a ratio of 100:1 means your broker would lend you $100 for every $1 of actual capital. Many brokerages offer as much as 250:1. Remember, lower leverage means lower risk of a margin call, but also lower bang for your buck (and vice-versa).
  Bottom line: If you have limited capital, make sure your broker offers high leverage. If capital is not a problem, any broker with a wide variety of leverage options should do. A variety of options lets you vary the amount of risk you are willing to take. For example, less leverage (and therefore less risk) may be preferable for highly volatile (exotic) currency pairs.
  
  
• Account Types - Many brokers offer two or more types of accounts. The smallest account is known as a mini account and requires you to trade with a minimum of, say, $250, offering a high amount of leverage (which you need in order to make money with so little initial capital). The standard account lets you trade at a variety of different leverages, but it requires a minimum initial capital of $2,000. Finally, premium accounts, which often require significant amounts of capital, let you use different amounts of leverage and often offer additional tools and services.
  Bottom line: Make sure the broker you choose has the right leverage, tools, and services relative to your amount of capital.

Things To Avoid

• Sniping or Hunting - Sniping and hunting - or prematurely buying or selling near preset points - are shady acts committed by brokers to increase profits. Obviously, no broker admits to committing these acts, but a notion that a broker has practiced sniping or hunting is commonly believed to be true. Unfortunately, the only way to determine which brokers do this and which brokers don't is to talk to fellow traders. There is no blacklist or organization that reports such activity.
  Bottom line: Talk to others in person or visit online discussion forums to find out who is an honest broker.
  
  
• Strict Margin Rules - When you are trading with borrowed money, your broker has a say in how much risk you take. As such, your broker can buy or sell at its discretion, which can be a bad thing for you. Let's say you have a margin account, and your position takes a dive before rebounding to all-time highs. Well, even if you have enough cash to cover, some brokers will liquidate your position on a margin call at that low. This action on their part can cost you dearly.
  Bottom line: Again, talk to others in person or visit online discussion forums to find out who the honest brokers are.

Signing up for a forex account is much the same as getting an equity account. The only major difference is that, for forex accounts, you are required to sign a margin agreement. This agreement states that you are trading with borrowed money, and, as such, the brokerage has the right to interfere with your trades to protect its interests. Once you sign up, simply fund your account, and you'll be ready to trade!

Define a Basic Forex Strategy
Technical analysis and fundamental analysis are the two basic genres of strategy in the forex market - just like in the equity markets. But technical analysis is by far the most common strategy used by individual forex traders. Here is a brief overview of both forms of analysis and how they apply to forex:

Fundamental Analysis
If you think it's difficult to value one company, try valuing a whole country! Fundamental analysis in the forex market is often very complex, and it's usually used only to predict long-term trends; however, some traders do trade short term strictly on news releases. There are many different fundamental indicators of currency values released at many different times. Here are a few:

• Non-farm Payrolls
• Purchasing Managers Index (PMI)
• Consumer Price Index (CPI)
• Retail Sales
• Durable Goods

Now, these reports are not the only fundamental factors to watch. There are also several meetings from which come quotes and commentary that can affect markets just as much as any report. These meetings are often called to discuss interest rates, inflation, and other issues that affect currency valuations. Even changes in wording when addressing certain issues - the Federal Reserve chairman's comments on interest rates, for example - can cause market volatility. Two important meetings to watch are the Federal Open Market Committee and Humphrey Hawkins Hearings.

Simply reading the reports and examining the commentary can help forex fundamental analysts gain a better understanding of long-term market trends and allow short-term traders to profit from extraordinary happenings. If you choose to follow a fundamental strategy, be sure to keep an economic calendar handy at all times so you know when these reports are released. Your broker may also provide real-time access to such information.

Technical Analysis
Like their counterparts in the equity markets, technical analysts of the forex analyze price trends. The only key difference between technical analysis in forex and technical analysis in equities is the time frame: forex markets are open 24 hours a day. As a result, some forms of technical analysis that factor in time must be modified to work with the 24-hour forex market. These are some of the most common forms of technical analysis used in forex:

• The Elliott Waves
• Fibonacci studies
• Parabolic SAR
• Pivot points

Many technical analysts combine technical studies to make more accurate predictions. (The most common is combining the Fibonacci studies with Elliott Waves.) Others create trading systems to repeatedly locate similar buying and selling conditions.

Finding Your Strategy
Most successful traders develop a strategy and perfect it over time. Some people focus on one particular study or calculation, while others use broad spectrum analysis to determine their trades. Most experts suggest trying a combination of both fundamental and technical analysis, with which you can make long-term projections and also determine entry and exit points. But in the end, it is the individual trader who needs to decide what works best for him or her (most often through trial and error).

Things to Remember

• Open a demo account and paper trade until you can make a consistent profit - Many people jump into the forex market and quickly lose a lot of money (because of leverage). It is important to take your time and learn to trade properly before committing capital. The best way to learn is by doing!
  
  
• Trade without emotion - Don't keep "mental" stop-loss points if you don't have the ability to execute them on time. Always set your stop-loss and take-profit points to execute automatically, and don't change them unless absolutely necessary. Make your decisions and stick to them!
  
  
• The trend is your friend – If you go against the trend, you had better have a good reason. Because the forex market tends to trend more than move sideways, you have a higher chance of success in trading with the trend.

Conclusion
The forex market is the largest market in the world, and individuals are becoming increasingly interested in it. But before you begin trading it, be sure your broker meets certain criteria, and take the time to find a trading strategy that works for you. Remember, the best way to learn to trade forex is to open up a demo account and try it out.