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Traders thriving in volatile forex market

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Let’s start with a simple assertion; when trading any currency there is always a high level of risk involved. This is particularly true in the current climate, however, with Britain debating whether or not to withdraw from the EU and talk of a global recession dominating economic circles.

Given this and the fact that not all traders are willing to take big risks, the forex weekly analysis market may well be avoided by those without the appetite for a challenge. After all, while there are opportunities to make huge profits in the foreign exchange these can often be counterbalanced by the chance of making a large loss.

The Importance of Stop Loss and take Profit levels

For this reason, many traders choose to set stop loss and take profit levels. A take profit order is where traders state an exact rate or number of pips from a currency’s current price where they want to close out the position for a profit. Stop loss is the exact opposite, where a specific rate is decided to stop trading to minimise losses. There are various ways to use this effectively when trading.

These measures can help you to automate and carefully manage your portfolio, minimising risk and potentially optimising gains over a sustained period of time. So long as you approach this from a position of knowledge and ensure that you use these features wisely, you can profit in a constantly changing, global marketplace. For example: –

Including stop loss and take Profit levels as part of your Trading Strategy

During the preparation for any trade, the stop losses and take profits should be incorporated into the trading strategy. When you go into real time trading it can be too easy to get carried away and hold out for either making a higher profit or coming back from a loss.

By setting these out beforehand it will ensure it is controlled, so that successful trades do not turn into losses or unsuccessful ones turn into highly damaging ones. It will also help you budget on how much to invest in your chosen currencies.

Use Appropriate Stop Losses

There are various methods for setting stop losses. The percentage based one is most common, which involves using a predetermined portion of a trader’s account for setting the stop loss or take profit. Ideally this should be limited to around 2%, though will depend on your finances and trading methods.

Support and resistance is another way that bases the levels on current market trends so you can risk more at profitable times. Time limit stop losses are set within a certain period so you cannot lose too much in one go, the trades stopping after a decided amount of time.

Make the Most of Calculators

The easiest way to work out what your stop loss and take profit margins should be is to use the FxPro calculator. This is a much quicker way to work out important trading calculations by inputting all the vital information such as the currency pair, leverage, position size and more. Whatever method of setting stop losses you decide to use this is an extremely helpful tool. If you’re hoping to make a success of forex trading and edge on the side of caution then setting stop loss and take profit levels is essential.

These steps enable you to understand the purpose of stop loss and take profit levels, while hopefully ensuring that you are able to utilise these to benefit your trading strategy. This is important in the current economic climate, and it may become even more so in the event of a global recession.

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Donald Trump calls for boycott of Apple

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Following numerous outspoken assertions during his remarkable political rise in recent months the American businessman and Republican candidate Donald Trump has personally called out Apple CEO Tim Cook and pushed for the American people to boycott Apple products.

Apple is one of the largest companies in the world and is a huge contributor to the American economy. However, Trump believes they should be boycotted after the firm refused to change security settings on their iPhone handsets.

Having recently traded blows with the Pope, Trump now has his sights set on Apple, which until recently was the world’s most valuable company, before Google announced bigger numbers in Q4 of 2015.

The issue at stake here is actually a serious one, even if Trump’s suggested approach to solving the dispute is somewhat clumsy. Apple is involved in a tangle with the U.S. Justice Department over an encrypted iPhone belonging to one of the accused participants in the San Bernardino massacre in December last year. The FBI demand that Apple develop technology to unlock the phone in question.

Apple and their CEO Cook assert that doing so is not a straightforward task and that unlocking the phone would set a dangerous precedent. It could essentially allow hackers and scammers easier access to unlock encrypted iPhones globally. Essentially Apple’s stance is that letting the good guys in makes it easier for the bad guys to get in too.

Apple will contest the FBI order in court, with an appeal against the order due to be heard on 26th February, in a case which could rumble on for months.

Trump, stated at a rally in South Carolina “Boycott Apple until such time as they give that information.” He also added on Twitter “I use both iPhone & Samsung. If Apple doesn’t give info to authorities on the terrorists I’ll only be using Samsung until they give info. Boycott all Apple products until such time as Apple gives cellphone info to authorities regarding radical Islamic terrorist couple from Cal.”

He also said, “Tim Cook is looking to do a big number probably to show how liberal he is.”

Calling for a boycott on the company’s products is of course great publicity for the Republican. There are estimated to be somewhere in the region of a billion devices running Apple’s iOS software worldwide.

Apple say they are protecting civil liberties and consumer rights, whereas their critics feel they should comply with the FBI, as the privacy of a terrorist sympathetic to ISIS who murdered 14 civilians at an office party is of no consequence.

Trump has previously called for boycotts of large brands including Macy’s and Starbucks.

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Cruise liners providing an injection to global economy

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A booming industry expanding across the world’s greatest oceans. That is an apt description for one of the fastest growing sectors of the global tourist industry, cruising.

This charming and relaxing way of passing an annual vacation – or the journey of a lifetime – is attracting increasing numbers tourists from across the globe every year.

The Europe’s Mediterranean sea and the Caribbean islands are amongst the most popular destinations for cruises, with more than 20 million passengers enjoying cruises globally each year. Around 50% of those passengers come from North America.

Despite the US being one of the countries hit hardest by the global economic crash of 2008 the number of people enjoying cruises worldwide has risen gradually from 17.8 million in 2009 to 23 million in 2015. This has in part been due to the intelligent marketing by the cruise lines and in part by the steady improvements to their services and tours.

Indeed, last year the worldwide cruise industry generated almost $40 billion (£26.71) in revenue and the growth in the sector is set to continue for years to come. With half of the world’s cruise passengers being from the US the upturn in the American economy over the past couple of years is good news for the industry.

In 2013, the passenger capacity of the global cruise industry was 415,000 and this figure is expected to rise to 521,000 by 2018.

That means within a couple of years more than half a million people could be cruising the world’s oceans at any one time as tourists, not including those traveling by ferry or private vessel.

Contrary to popular perception cruise passengers are spread fairly equally across the age spectrum, with a quarter falling equally in the 30-39, 50-59 and 60-74 age brackets. Unsurprisingly the vast majority of cruise travelers are employed, most are university educated and 84% of them are married, enjoying on average an annual household income of around £80,000.

A 2012 study by the Business Research & Economic Advisors group into the economic contribution of cruise tourism to destination economies showed that a single docking from an average cruise ship of 3,000 passengers and 500 crew members generates around £200,000 in passenger spending, £33,500 in crew spending and approximately £10,000 in port fees.

Today’s giant cruise ships offer a wealth of luxury and entertainment for passengers. Giant swimming pools and water slides, theatre shows, sky-diving simulators, robotic bartenders, celebrity chef kitchens and top of the range fitness facilities mean there is something on offer for every generation.

From major travel agencies worldwide to independent travel agents working with the likes of the-travel-franchise.com/ finding the right package to suite any individual’s taste is possible.

The Caribbean and the Bahamas remain as the number one cruise territory worldwide enjoying a huge 35.5% market share, followed by the Mediterranean (19.5%) and non-Mediterranean Europe (10.6%), Asia (6.0%), Australia, New Zealand & South Pacific (6.0%), Alaska (4.5%) and South America (2.9%).

Carnival Corporation (including the Princess brand and Costa Cruises), Royal Caribbean International and Norwegian Cruise Line are the market leaders but smaller companies also provide variety and ever evolving packages for passengers. Cruising the world’s beautiful seas has never been bigger business.

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British living standards return to pre global economic crash level

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The Guardian newspaper has reported the findings of the economic thinktank the Resolution Foundation which has found that rising employment and persistently low inflation in the UK have seen living standards in the country return to the levels of those experienced before the global economic crash of the late 2000s.

The UK was hit hard by the crash as major banks required state-led bailouts, with the bills for the rescue packages picked up by the taxpayer and with the government then introducing strict austerity measures as a result.

Unemployment increased and the economy slowed down, with incomes put under pressure during the UK’s most pronounced post-war economic downturn. Weak economic growth, low-wages and high inflation made individuals harder up.

But a slow recovery has taken place, in line with similar global trends. The Resolution Foundation has now found that increasing employment levels, rising incomes and low inflation mean that living standards are returning to the levels of their previous 2009 peak – though the pace of the recovery is likely to slow.

The thinktank describe recent economic conditions in the UK as ‘the longest squeeze on households in living memory’ but say they have finally come to an end. Nonetheless the Guardian reports that the group warn, ‘the pace of recovery was likely to slow during the course of the current parliament and that low-income families were particularly vulnerable to changes to the benefits system.’

The Resolution Foundation state that the recent recovery has led to the average income, adjusted for inflation, rising to its highest ever level at £24,300.

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How Technical Analysis assists success in the current forex market

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The forex market is always a newsworthy entity, although not always for the right reasons. Regardless of the controversies that have undermined the market’s appeal since the recession, however, the foreign exchange remains a lucrative and profitable sector that offers incredible liquidity to investors.

The world of forex is also incredibly complex, however, and for those seeking to trade the currency markets, it’s essential to fully understand the terms and jargon used by the professionals.

One of the most important concepts that you’ll hear about is technical analysis. Those who practice technical analysis believe that historical price action can be used to predict future market movements, and this forms one of the fundamental foundations of their strategy.

It is also particularly beneficial for young professionals and those who look to trade on a part-time basis, as the historic and real-time insight offered by technical analysis helps individuals to achieve a healthy outlook and work-life balance over time.

Why Forex Traders Use Technical Analysis and how it is best applied

So if you’re considering how you’re going to trade, then there is no doubt that technical analysis will have a critical bearing on your success. Technical analysis is particularly handy for those who trade the forex markets, due to their around the clock opening hours. This constant cycle of movement provides a wealth of data for would-be traders to analyse, and this makes technical tools like trends, charts, and indicators particularly suited to currency trading.

Those who use technical analysis trade in a very different manner to those who employ different methods. One of the key variances is how they treat the factors that influence the markets. Rather than focusing on economic, political, social, and psychological drivers, they assume that these have already been factored into the exchange rate displayed, and that all that’s important is the trend and flow of capital. This helps traders to focus solely on the underlying laws that govern change, rather than becoming distracted by external economic and geo-political factors that influence daily forex trades in 2016.

One of the primary aims of technical traders is to correctly predetermine whether a currency combination will trend in a particular direction, or whether it will travel sideways or remain range-bound. They tend to use trend lines as the basis of their hypotheses, connecting historical levels to inform their decisions. The levels of support and resistance that they study are then used to predict whether the trend, or lack of, will continue.

The Currency Combinations Most Suited to Technical Analysis in the current market

Any trader can employ technical analysis at any time, yet it seems to suit some currency combinations to a greater degree than others. The major pairings, in particular, often display the strongest trend characteristics, with the EUR/USD, USD/JPY, USD/CHF, and GBP/USD frequently proving predictable. This is even true in the current market, as the British Pound currently remains strong despite the uncertainty that exists around UK’s potential departure from the EU.

It’s important to take this information into account when selecting your combinations, as it will heavily impact how well a particular strategy suits the currencies contained within your portfolio. Strong and reliable currency pairings can be a Godsend during times of austerity or volatility, and technical analysis can help you to determine which options are most suitable at any given time.

In Summary: Using Technical Analysis to drive your Forex Trades

The tactics that you choose to use will be one of the greatest determiners of your success on the forex markets, and this means that it’s essential to spend some time assessing which of them would work best for you. So while there is no doubt that technical analysis can inform and drive your trades in 2016, those of you who are considering starting a secondary career as a forex trader should also understand precisely how this would suit their prevailing strategy?

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UK banks ‘vulnerable’ to further global economic turmoil

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Senior analysts of the UK banking sector believe the country’s major banks remain highly vulnerable to the current turmoil in the global economy, with several factors affecting stability.

The slowdown in China’s manufacturing sector and subsequent market turmoil, plummeting oil prices, stubbornly low inflation and now the news that Japan’s economy shrank by 1.4% in Q4 of 2016 are all signs that another global crash could potentially be on the way, eight years after the slump of 2008.

Respected financial expert, Sir John Vickers, who leads the Independent Commission on Banking, told the BBC that banks should be holding more capital in order to prepare themselves for any forthcoming fallout in the market.

He said, “A good way to think about it is as an insurance policy. You do have to pay a premium to insure your house and you hope nothing bad will happen. But if it does, you are much better off in paying that premium, and for full coverage. If banks run out of capital, all sorts of havoc could ensue. We want to be in a position where there’s enough of a buffer to take any losses that might occur.”

He had also earlier written an opinion article for the Financial Times newspaper in London, stating: “Given the awfulness of systemic bank failures, ample insurance is needed, and equity is the best form of insurance. The recent volatility in banks underlines the importance of strong capital buffers. The Bank of England should think again.”

Vickers, a former Bank of England chief economist, says UK banking institutions are still at risk despite measures to strengthen finances, having led an inquiry into the safety of UK banks following the 2008 crash. Vickers believes the recommendations he made to the market via the Independent Commission on Banking have been watered down by the Bank of England and that leaves the banks in a position of vulnerability.

The warnings have come as global fears of another crash have been fuelled by China and Japan’s economies continuing to rock, with China’s financial authorities expected to spend billions of dollars to inject some power and growth into the Shanghai stock market.

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Google chief does not ‘know’ his own salary

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Google’s EMEA chief Matt Brittin came unstuck on Thursday (11th February) as he claimed he did not know that exact figure of his annual salary, when he was put on the spot by Meg Hillier of the Public Accounts Committee.

Hillier and her fellow Committee members are scrutinizing Google’s tax arrangements in the UK. The technology giant’s tax settlement with HMRC (Her Majesty’s Revenue and Customs) involves a controversial £130m back tax settlement which many believe feels way short of what should really be paid.

Brittin took a grilling from the Public Accounts Committee as the angered British MPs pushed him for details of Google’s tax settlements with the UK authorities. Labour MP Hillier and Brittin exchanged heated words as the Google exec claimed he felt the anger from the British public over his company’s tax deal with HMRC.

“Do you really understand the anger, Mr Brittin?” Hillier questioned. “What do you get paid, Mr Brittin?” The Google boss eventually replied: “I don’t have the figure but I’ll provide that figure privately, if it’s relevant to the committee to understand my salary.”

After the initial exchanges Brittin and Tom Hutchinson, the firm’s tax manager, informed the panel that Google pays 20% on its UK profits and that their HMRC settlement was the result of an intense six-year independent audit.

Hutchinson stated that Google paid £2.2bn in corporation tax in 2015 globally, with most of that sum being paid in the United States. The company’s headquarters are in California. He explained, “It’s up to governments to decide where we should be paying that tax. I would love to see the system more simple so we wouldn’t have to come to hearings like this to explain it, but we need governments to work together to develop an overall worldwide system to take that 19% and split it in a simple way.”

The head of HMRC, Dame Lim Homer, also defended their deal with Google, claiming she was confident that, “we have got the full tax that’s due.”

Meanwhile, Labour’s John McDonnell, the shadow chancellor criticised Chancellor George Osborne over the matter. McDonnell said, “It’s time that Osborne got a grip of this situation as it’s becoming a daily occurrence that we read yet another multinational are not paying their fair share in tax meaning other taxpayers have to shoulder the burden. Osborne should use the EU negotiations not to cut the pay of people on low incomes but to get a deal at EU level on tax so that we are getting the tax status of these big multinationals under control.”

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The rise and rise of the tech-savvy sole trader

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Xero’s head of accounting Paul Bulpitt tells freelancers, contractors and sole traders how they can leverage the technology changing the future of tax.

Sole traders make up an ever increasing proportion of the workforce. Some work in creative industries – writers, media people, photographers and designers. Some as management consultants, project managers, programmers or developers. Others as builders, electricians, accountants and beauticians. The range of sole trader businesses gets bigger all the time.

More than three quarters of sole traders say their best working days are still ahead of them. So if you’re a sole trader, or thinking of becoming one, you’re in good company.

In 2016, there’s never been a better time to be a sole trader. Technology has pushed back boundaries and created new opportunities and depending on the type of work you do, you can be based almost anywhere. For example, some sole traders may need little more than a laptop and an internet connection. Others may need tools, supplies or a vehicle, but they’ll still be agile – ready to move wherever their work takes them.

Lightening the load by moving online

One reason why things are looking up for sole traders is because technology has made it easier than ever to do business. Online or cloud-based software has streamlined processes and sped up the exchange of information. For example, you may already be using:

  •       online office tools like Microsoft Office 365 or Google Apps
  •       email services like Gmail
  •       cloud-based file storage and accountancy software
  •       social media to market your services and keep in touch with customers
  •       video conferencing to talk to clients and friends
  •       websites to reach new clients.

It makes sense to move your whole business online as there’s no point being tied to a single computer or desk – cloud-based software gives you the opportunity to work from anywhere with access to your business from any device.

Filing your tax returns online

HMRC has announced its strategy to digitise the taxation process. This year, over 9,500,000 tax returns were filed online, and by the end of the year there will be 10 million people with digital tax accounts – a third of the working population. Everyone will need a digital tax account by the end of 2019. There are plenty of software options out there that can take the pain away – sole traders and small business owners using cloud-based accounting software for example can connect directly with HMRC to upload their annual tax returns, making it a doddle.

For sole traders, managing finances is crucial, and choosing the right business bank account can facilitate easier invoicing, payments, and expense tracking. Consider a dedicated sole trader account to separate personal and business transactions. This move enhances financial clarity and aids efficient tax reporting.

Although the digitisation is a major change to the way HMRC operates, this move to streamline the burden of compliance for small businesses and sole traders is ultimately a good thing, as it will eliminate wasted time and expenditure on inefficient compliance processes. For freelancers and contractors, it means no more of the dreaded paper tax returns!

Find an accountant in the know

Choosing an accountant is like choosing a new business partner. The top things you need to look out for include finding someone with experience in preparing tax returns and financial documents for freelancers or sole traders with a similar revenue to yours and in a similar sector. Since HMRC is going digital, make sure you find someone who is savvy about using cloud-based software. The more familiar you and your accountant is with business technology options now, the easier you will find the future, as cloud-based business processes, big data innovation and digitisation will become the norm.

A digital future
With HMRC’s digital transformation, filing tax returns in the future should make life a whole lot easier for freelancers, while cloud technology . At Xero we believe this automated process will ultimately halve the time it usually takes to file a tax return, saving us all from an exhaustive process and a frustration headache!

How Online Shoppers Can Save Money Through Dealslands

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When we look behind, say a decade back, people in those days usually used to go to brick and mortar stores to shop for things. Online shopping was not that famous and regular thing in those days. With changing days and season, things changed and so do the shopping trends.

In today’s world, shopping is no more a big deal for people. It has been simplified by the online process. So people no more roll trolleys in the stores, pick up items, go to the checkout and pay their bills. Last but not the least, they no more have to find a parking space to park your car. Online shopping has changed everything. It is even the best option for the laziest people as they only have to make some clicks with the mouse.

The best thing about online shopping is that it helps shoppers to save money. Now this sounds interesting, right? Yes, it is true. They do this using coupons and discount vouchers. If you are looking for a common place to find all the discount vouchers for UK stores, then you must for once visit Dealslands.

Dealslands is a coupon providing site that brings to you free and updated vouchers and offers from different UK stores. The vouchers are easy to use and the shopper can get benefitted from it at the same moment. All the stores are listed properly according to the category so that any shopper can easily find the coupon for the store they want. For example, you can get the latest offers by using Currys discount code if you want to purchase an electronic product.

The products are also listed in the alphabetical order making it easy for the shopper who is searching for a particular store. For example, if you only want to use Nike promo codes directly and don’t want to waste time surfing other offers, you can directly go to them by going through the alphabetical list.

Here you can find vouchers and deals on different kinds of products. You can find deals for clothes, footwear, travel, home and garden products, baby products, food and drinks, beauty products, books and magazines, electronics, gifts, etc. There are many more categories to opt for.

Dealslands makes every effort to make sure that you get the best deal for the product that you want to buy. They list the deals from time to time so that you have the newest deal available at your service. All the expired deals are listed separately so that shoppers don’t get confused with it.

It is even possible to keep yourself updated about the latest deals on different products and get these free vouchers directly into your mail, by signing up for email updates. There is nothing better than getting up in the morning only to find that you have an amazing offer waiting for your favourite dress in your inbox.

So dear shoppers, if you want to save big on your shopping, visit Dealslands for sure. You will definitely find some amazing deals there.

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Animal Friends Scoops Double Award Win at the Consumer Moneyfacts Awards 2015

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UK pet insurance provider, Animal Friends, has been named the winner of two consumer voted awards at the Consumer Moneyfacts Awards 2016.

Animal Friends was crowned Pet Insurance Provider of the Year as well as Best Claims Service for the second year in a row. The Best Claims Service award covers the insurance industry as a whole, naming Animal Friends the best insurance provider across all sectors.

In London on the 21st January, the awards brought together industry professionals from leading financial services and utility providers to celebrate the success from the previous year. The awards are the largest financial service survey in the country, making these results an even greater achievement.

Animal Friends won both awards thanks to a consumer vote, with the insurance provider’s customers choosing the company as the winner. Animal Friends were judged on technical merit, consumer satisfaction and confidence, and all round performance.

Westley Pearson, Director of Claims and Marketing, commented: “2015 was a huge year for Animal Friends, so it’s wonderful to be starting 2016 on such a positive note.  We’re constantly working to make our service and policies the best that they can be, and for our Claims Service to be named the best in the sector is hugely rewarding.”

-ENDS-

About Animal Friends Pet Insurance

Animal Friends is a multi-award winning ethical pet insurance company that supports animal welfare charities all over the world and has donated £2.4 million to animal charities to help improve the lives of animals. Twice-named Pet Insurance Provider of the Year 2015, Animal Friends is one of the UK’s leading pet insurance providers. For more information please visit www.animalfriends.org.uk

 

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