Tuesday, December 1, 2009
Introduction to Forex
The Foreign Exchange market, also referred to as the "FOREX" or "Forex" or "Retail forex" or "FX" or "Spot FX" or just "Spot" is where currency trading takes place. It is where banks and other official institutions facilitate the buying and selling of foreign currencies. FX transactions typically involve one party purchasing a quantity of one currency in exchange for paying a quantity of another. The foreign exchange market is the largest financial market in the world, with a volume of over $4 trillion a day. If you compare that to the $25 billion a day volume that the New York Stock Exchange trades, you can easily see how enormous the Foreign Exchange really is. It actually equates to more than three times the total amount of the stocks and futures markets combined. . Currencies are traded through a broker or dealer, and are traded in pairs; for example the euro and the US dollar (EUR/USD) or the British pound and the Japanese Yen (GBP/JPY).
One unique aspect of this international market is that there is no central marketplace for foreign exchange. Rather, currency trading is conducted electronically over-the-counter (OTC), which means that all transactions occur via computer networks between traders around the world, rather than on one centralized exchange. The market is open 24 hours a day, five and a half days a week, and currencies are traded worldwide in the major financial centers of London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney - across almost every time zone. This means that when the trading day in the U.S. ends, the forex market begins anew in Tokyo and Hong Kong. As such, the forex market can be extremely active any time of the day, with price quotes changing constantly.
Tuesday, November 17, 2009
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
• 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.
• 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.
• 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
• 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.
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.
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.
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