Forexing Business Success

Below are some expert trading tips for forex traders:
1. An old cliché but one which holds great truth – ALWAYS trade in the direction of the trend. In the Forex markets we see great trends in currency pairs that last for a long time (cycles). Therefore, it pays to identify the dominant trend of currency pairs. Going against the trend will only cost you a lot of money and destabilise you emotionally.

2. Plan your trade, trade your plan. Trade plans can be made well in advance in the Forex market and help eliminate emotional trading. The more mechanical you become in entering and exiting trades, the more profitable and consistent you will become in the long run.
3. Before initiating any trade, always know your risk and truly accept this risk. The risk is defined as the number of pips from your entry to your stop loss.
4. Always, use a stop loss after initiating a trade. Placing a stop loss does not essentially mean that you are expecting to experience a losing trade but will help minimize losses against unforeseen market circumstances caused by unforeseen events such as terrorist attacks, geopolitical events etc.
5. After initiating a trade, a trader must have clear trade management guidelines for that trade. Trade management means that the trader knows in advance when and where he or she will move the stop loss and when to scale out of part of the trade and eventually where to take profits.
6. Whilst trading Forex, it is imperative for a trader to know the characteristics of the currency pairs he or she likes to trade. A way of achieving this is by looking at the past behaviour of the currency pairs in order to ascertain key characteristics such as: a) how well does the pair trend? b) which economic events influence the pair? c) what is the Average Daily Range of the pair? etc.
7. Always keep in mind that the Forex market presents the trader with a constant stream of opportunities, therefore, if the trader experiences more than 2-3 consecutive losses, stopping to trade for a period of time is advisable. This will give the trader time to refocus and examine mistakes and prepare psychologically to re-enter the market again.
8. Trade to profit and not just to trade. Many traders think that because they might sit in front of a trade station for a period of time it is logical that they should be trading constantly. A trader should only initiate trades once all the odds are stacked in his favour and he has an edge. Then and only then can trade be initiated. Patience and discipline is an integral part of successful and consistent trading and are traits that a trader must endeavour to possess.
9. All successful traders have a trading diary that contains all the trades good or bad they have ever initiated. This gives traders the opportunity to constantly evaluate their performance and rectify any identified mistakes.
10. All successful traders are constantly learning and evolving. Just when you think you know it all about trading, a new curveball gets thrown your way. Furthermore, as time passes by, new methods of making money are developed and need to be learned about.

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The market is constantly moving and since Forex trading involves buying and selling of currencies, so traders can easily operate in a rising or falling market. This is because, there are always trading prospects, whether a currency is rising or deteriorating in relation to another currency. So there is always profit potential in the Forex market, whether it’s a rising one or a falling one.

Along with these major advantages, the Forex market also has some other merits such as, Forex trading gives its traders, an opportunity to bigger profits as returns on their invested money. Also, since the market is open 24 hours a day, 5.5 days a week, it gives the investors can make their deals anytime they want to.

With such superior speed of the market, and fine liquidity, even the largest of transactions are conducted within a few seconds. You can study the Advantages and Disadvantages of Forex Trading as well on our website.

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Also, acting as a huge attraction is the high liquidity. With almost 90% of all the currency transactions consisting of 7 major currency pairs, helps these currencies display price stability, smooth trends, narrow spreads and high levels of liquidity.

This liquidity mainly comes from the banks which offer cash flow to companies, investors and market players.

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Because of the Forex market deals with countries all over the world. Forex market is open 24 hours a day from 5am on Monday until 6am Saturday(Hong Kong Time).

Investors can arrange the transaction time according to their own habits. This is one of the reasons why so many white-collar workers choose Forex. At the same time, more and more people began to exploit the stock market closed time to trade in foreign exchange, spread its investment risk as an effective channel.

Whatever time of day you trade, we are here to provide support. You can reach our knowledgeable representatives 24 hours a day from Monday morning through to Saturday morning (Hong Kong Time) by phone, email.

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Usually when an investor makes a trade, he has a set amount of money in his account, let's say $1000. He then buys stocks or bonds for $1000.

Suppose on the other hand, that this investor took his $1000 and opened a Forex account. Now the game changes. Unlike stocks and bonds, Forex is not regulated by a governing body, meaning there are no limits as to how much leverage can be used. Let's say the investor takes his $1000 in a Forex account and buys one or more currency pairs. The broker will then offer the investor to loan him up to several hundred times the value of the brokers account. This means that the investor can leverage his account 100:1, 200:1 even up to 400:1. This essentially means, that for an initial deposit of $1000, he can now trade for $100,000 and even more.

How's that for leverage? It's easy to see why Forex trading is so tempting. You can never lose more than the money in your account though. That means you get all the opportunity for leveraged profits, but only risk losing the unleveraged amount in your account.

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The foreign exchange market is the largest and most liquid financial market in the world.Traders include large banks, central banks, currency speculators, corporations, governments, and other financial institutions. The average daily volume in the global foreign exchange and related markets is continuously growing. Daily turnover was reported to be over US$3.2 trillion in April 2007 by the Bank for International Settlements. Since then, the market has continued to grow. According to Euro money's annual FX Poll, volumes grew a further 41% between 2007 and 2008.

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.

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More precisely, FOREX is a currency trading market, and it is one of the largest and most rapidly developing markets on the planet. Over 2.5 trillion dollars are turned over on the forex every single day.That is more than 100 times the amount turned over daily on the NASDAQ. If you are intrigued.

So, what is a market? Simple: it's a place where goods are traded. The forex is no different, but with one little twist: the goods traded on the forex are national currencies. For example, on the forex you might pay in American dollars and buy some Canadian dollars. Or, you could sell your euros for Japanese yen. There is nothing more to it than that.

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Start-up entrepreneurs often have difficulty writing out business plans. This discipline is going to help you in many ways so don't skip this planning tool! To make it easier, here are six steps that will produce a worthwhile plan:

1. Write out your basic business concept.

2. Gather all the data you can on the feasibility and the specifics of your business concept.

3. Focus and refine your concept based on the data you have compiled.

4. Outline the specifics of your business. Using a "what, where, why, how" approach might be useful.

5. Put your plan into a compelling form so that it will not only give you insights and focus but, at the same time, will become a valuable tool in dealing with business relationships that will be very important to you.

6. Review the sample plans we furnish and download the blank format to a MS Word document. Fill this in as you progress though the course.

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During the next few articles, we are going to provide specific strategies and ideas in order to help you create a marketing plan.
The marketing plan is only one part of your overall plan or your business plan.
A business plan can be used for a few key reasons:
1. to state your objectives so that you have a clear picture of where you want your business to go
2. to be used as a financial proposal
Provided directly below, you will find a sample outline for a business plan. You can see how your marketing plan would fit into this approach. (V and VI are a general outline of your marketing plan.)

I. Summary:

1. Objectives
2. Description of the business
3. Products and Production
4. Marketing Strategy
5. Management
6. Finances

II. Company:

1. Ownership
2. Location and facilities
3. History
4. Goals and milestones

III. Products:

1. Description
2. Features and comparison
3. Research and development

IV. Production Plan:

1. Labor
2. Suppliers
3. Equipment
4. Property and facilities
5. Subcontractors
6. Manufacturing costs

V. Market Research and Analysis:

1. Target market
2. Market survey
3. Industry analysis
4. Competition

VI. Marketing Strategy:

1. Sales and distribution
2. Advertising and public relations
3. Positioning
4. Pricing
5. Strategic alliances

VII. Management strategy:

1. Description of management team
2. Remuneration
3. Shareholders
4. Consultants

VIII. Financial Strategy:

1. Reason for financing
2. Sources of financing
3. Financial package
D. Time line

IX. Budget strategy:

X. Supporting Documents:

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Creating a successful marketing strategy, finding opportunities to sell products and services, and connecting more effectively to current and prospective customers is a demanding job.

If you wonder if there are ways to make your marketing efforts more efficient, ask yourself these questions:
• Do you have a complete view of your customers and have you identified the best prospects based on this view?

• Is your customer information dispersed among e-mail messages, documents and databases?
• Do you need sophisticated marketing materials, yet you can't afford a professional printer?
• Do your sales representatives have a process for following up on sales leads?

The information that follows highlights basic sales and marketing practices that can help you develop a tactical marketing plan and sales process that works for your business.

Create a Marketing Plan

A good marketing plan can shape the way you connect to your existing customers and attract new ones. It can also help you determine the types of customers you should target, how to reach them and how to track the results so you learn what works to increase business.

If you don't have a marketing plan, creating one is not difficult. A successful marketing plan doesn't have to be complex or lengthy, but should contain enough information to help you establish, direct and coordinate your marketing efforts.

To help you through the process, we've identified five steps to follow. These encompass information gathering before you write your marketing plan, the drafting of the plan itself, and updating the plan after you've created it. Along the way we use Margie's Travel, a new 25-person travel service company, as an example.

Step 1: Position your product or services
To start your plan, keep in mind the four "Ps" of marketing: product, price, promotion and place. Your goal is to put the right product or service in front of the right customers, at the right price and at the right time and place. A good way to get started is to answer some basic questions about your business. The following scenario for Step 1 is based on the marketing plan used by Margie's Travel.
• Who are you selling to?
Margie's Travel provides personal travel services to busy working professionals. Based on collected data, the typical clients are homeowners between the ages of 35 and 55, with yearly incomes of more than US$100,000.
• What do those customers need?
The target market for Margie's Travel is affluent working couples with children who want travel plans customized for a family. The company's goal is to provide convenient, unique and relaxing travel experiences appropriate to each family.
• What distinguishes your product or service from the competition?
Margie's Travel has a competitive advantage in its ability to accommodate families with children of all ages, from putting together fun and entertaining travel packages to making special accommodation travel plans with short or extended notice, flying domestically or internationally. Margie's Travel also has the advantage of being a home-based business that requires lower overhead and start-up costs than a traditional travel service business.
• Are there marketing tactics that work best for your business?
Research indicates that the most effective advertising tool for a service like Margie's Travel is small display ads in local papers, such as a weekly community newspaper with a paid subscription base of 5,000 to 40,000 readers. Margie's Travel also places ads in the local boating community newsletter, and sends brochures to larger businesses.

By answering these key questions about your business, you can develop a solid foundation on which to build your marketing plan.

Step 2: Ask for input from trusted advisers
To ensure that you have a clear sense of your own business, it is a valuable practice to gather information from those around you. Set up meetings with trusted friends, staff, advisers and peers, and ask for their input on the following:
• Who is your business selling to?
• What do your customers need?
• What distinguishes your products or services from the competition?
• When and how often should you employ marketing efforts?
• Where should your company be one year from now?

Getting feedback on these aspects of your business can help you prepare your marketing strategy as well as create targeted materials.

Step 3: Ask for input from customers and prospective customers
To successfully market to customers, you need to learn how they react to your product, pricing, brand or service — anything related to your business. Ask several of your current and prospective customers what they think about your business, products and services, potential to sell to them, and competitors. You can ask them by e-mail, telephone or marketing postcards. Incentives, such as discounts or samples, can encourage feedback.

Step 4: Draft your plan
Now that you have feedback and an outline, you can draft your marketing plan. Start by summarizing your market position and goals, and define what you expect to accomplish in a specific time period.

A typical marketing plan might be organized in the following way:
• Market Summary
• Competitive Landscape
• Product Comparison and Positioning
• Communication Strategies
• Launch Strategies
• Packaging and Fulfillment
• Success Metrics
• Marketing Schedule

With a marketing plan in place, you have a structure you can use to help keep your business on track.

Step 5: Track your results, update your plan
Reviewing your plan every six months helps you determine whether it is producing the results you need. You can easily track your progress with a spreadsheet, where you can also calculate your marketing costs and compare them with sales and other metrics.

You should also update your plan regularly to respond to changing market conditions.

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When you are writing the business plan, the Marketing Plan section explains how you're going to get your customers to buy your products and/or services. The marketing plan, then, will include sections detailing your:
* Products and/or Services and your Unique Selling Proposition
* Pricing Strategy
* Sales/Distribution Plan
* Advertising and Promotions Plan

The easiest way to develop your marketing plan is to work through each of these sections, referring to the market research you completed when you were writing the previous sections of the business plan.

(Note that if you are developing a marketing plan on its own, rather than as part of a business plan, the marketing plan will also need to include a Target Market and a Competitive Analysis section. You can find out how to do these sections of the marketing plan in "Writing The Market Analysis Section of The Business Plan" and "Writing The Competitive Analysis Section".)

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When talk about business plans. Many SMEs will see a business plan is just the image.

Passport to borrow from financial institutions or venture into business. Venture Capital or Venture Capital. True business plan to what Amy SMEs than expected.

Days prior to the co-author of the training activities of the Institute of Business Plan and Medium-sized Enterprises at Thammasat Rangsit. And try to talk with Amy several SMEs. Have the opportunity to exchange ideas and experience with multiple operators. Has realized that. Benefits of a business plan that entrepreneurs are also aware of the limit and unable to adjust to the benefit to cost effectively as they should.

Today is for many top view perspective should not overlook the following:

1. A business plan is finalized ideas. Edge map as a leading official business. A. Many SMEs have a good idea. But do not know how to start a business. To convert the idea to do business or not. You can find answers from this business plan. By bringing these ideas to sort cent. Plain prospects. Opportunities and obstacles. Operators face in the real business. Combined with the strengths and weaknesses of the male experience of self-assembly. To lead to different strategies. To access the targeted customers. Business plan will enable operators to know that. You should go to plan or keep it permanently keep folding tray insert always try to think that a land you pretty good location in the heart of the city. Near the leading private universities. You wish to build a dormitory for students to rent. But you still lack experience in business. And know how to start. They may begin to study business opportunities. Data from the data of prospects. That demand for housing much. How behavior. What obstacles have strengths and weaknesses of what operators. Through the marketing plan to create marketing strategies to reach those customers. As well as the various figures and any assumptions. Create financial plan to consider the investment worthwhile, or do not cover. What is the point of payback.

2. Business plan help in the control areas. The business plan. Plan that will include sub-plans, marketing plans, production plans, including money management plan when operators business plan was completed. Such plans can be compared to the actual events that occurred. To assess performance. Is like as a barometer of management areas. A to SMEs. That is what we point to overlook. And what points need to be, and more.

3. Testamentary business is like a business plan to deliver to children. Delivery business, passed on from one generation to another is. Can start by providing your children learn from working in real organizations. But one way to help businesses heirs learn your business in a short period of time than is the business plan to offer you. Heir business can learn from the short business plan. A review of ideas in the business of heir. As well as view the business operators were full. Without significant time to learn to work at other departments. When looking heir to a more comprehensive picture. Images can be. To each other like picture puzzles Law. And the business plan as an intermediary in the talks discussed with operators who are fathers. The concept, which can transfer to heirs more. Including teaching strategies. In business through the business plan as an intermediary.

4. Business plan is a tool to analyze the lending or venture capital. Business plan will help enable financial institutions or venture capital business. Can understand the business of the S. E. M.. That have come to do. Future will continue to whither. Have the ability or potential profit growth in how much. Have the ability to repay loans or not. Return on investment is how. Appropriate to the venture, or lending or not.

5. Learning is a business plan draft machine businesses. To compete in the business field. In field operations. To get to know us is important. Business plan will enable us to study the competition of perspectives. And the images. The interaction of competition measured to reflect the impact on business. To build image ideas clearly. Preparation for the next strategic move. The business plan is often a simulated events. That may occur in real situations (Sensitivity Analysis) as competitors reduced price. Or special promotion. Or new products come out to vie for market, or if new competitors into the industry that we operate so we will have strategies to respond and interact in various situations. Them how.

For example, in the case. If the land next. Apartments are up to live. To sell to some students. We should protect our market approach to how the operator strategy and a backup plan in advance to interact competitors. Or respond to various situations. Changed instantly. A good business plan. Operators must make their own. To come to know that. And when to modify or amend it later. They can do their own players without difficulty. Important learning concepts in the work of the business plan. Business plan that will benefit cost is guide to the business. The experts may have to help advise on the plan time. Organized courses in business plan to the operator. Many institutions will use to access passenger operators lecture. When the course is to write their business plan. The majority of operators are often installed on various issues. Especially in conversion ideas. And figure out a strategy. The author did not know how to start. What should be written. Information industry conditions. Be available from anywhere.

From observations of the author. Writing a good map. Identification must be made by operators themselves. The experts may have to write a plan forward articulate mentor. Advice on writing a business plan to face. Apart from the additional new insights. Operators may be to overlook. Views from experts to help close vulnerabilities added strength in business of operators. Monitor a business plan consultant. Should have experience in same or similar business operators. Make the best ideas more comprehensive. To build realistic business plan to the Book of business operators continue.

However, the business plan is a paper sheet. Having a good business plan does not guarantee the success of the business. Business plan will help enable operators to see a picture of the business all over. Good business plan must be practical. To modify the factors and the changing environment and to control risk factors that must be faced to find ways to manage or reduce such risks. With a lot of useful business plan.

Continue to ask questions that today's entrepreneurs and business plans, or if the answer is to want to encourage you made a release. To add perspective to the business try to contact several institutions that offered a business plan or institutions to small and medium-sized enterprises.

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1. Strategy Formulation
2. Developing vision and mission

3. Identifying an organization’s external opportunities & threats
4. Determining internal strengths and weaknesses
5. Establishing long-term objectives
6. Generating alternative strategies
7. Choosing particular strategies to pursue.

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Objectives:

* To Define “Business Planning” or “Strategic Management.”
* To understand 3 stages of strategic management & its benefits.

The term “Strategic Management” is often used in academia, whereas “Strategic Planning” is often used in the business world. In some colleges and universities, “Strategic Management” is a subtitle of “Business Policy” course.

The Definition of Strategic Management or Business Planning.

Strategic management can be defined as the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives.

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Being in the graphic design business is very competitive – you have to learn to swim or you will sink fast. I’ve been a graphic designer for 12 years and I’d like to share the journey I took to owning and building a successful graphic design business.

One of the first things I recommend to help develop skills and learn tricks that you would never learn in school is to get an internship. I got my first taste of graphic design in high school and by my senior year I was working as an intern for a small graphic design firm and also a print shop.

I took an active role in my job to learn as much as possible by asking lots of questions to the senior creative director and also to the head print shop pressman. My skills and thirst for design blossomed from there. I majored in graphic design in college and had landed a very high profile graphic design internship and was taught a vast amount of tricks of the trade by highly skilled designers.
Read, Read Read!

The next thing I would recommend is to read. Read as many books as you can find on graphic design and soak up as much of the industry as you can from the people who know it best. A friend of mine always says that the only thing that makes you stand out from your competition is the knowledge you gain from the books that you read. I am a visual learner, so for me I like to collect books that are informational as well as provide examples. I use design books as inspiration for a lot of the graphic design work that I do.

Having confidence in your ability and being able to apply that to your business is essential to your business success. When I first started my business, I was nervous, but confident in my ability to run my business with class. I plunged right in with both feet by developing a business plan, company name, web site and logo. Once I had the logistics in place I began the tedious task of marketing. Marketing is the hardest part of owning a small business and takes immense amounts of confidence and strength of character to do well, but if done effectively it will catapult your business to success.
Sell, sell, sell.

Building a successful graphic design business is all about selling and marketing yourself. You can never stop selling, no matter how busy you are, you have to keep marketing in the forefront of your mind. Every person you meet is a possible client. Every contact you make has a sphere of influence that might need your services, and every vendor you work with might know someone who needs your help.

Some practical ways I have marketed my business is by: joining my local Chamber of Commerce, building a strong web site that is correctly optimized, adding numerous reciprocal links to my web site, handing out business cards that function as a mini brochure, joining a leads group, joining special interest clubs, attending business expo’s and conventions, and networking with other business professionals.

The key to marketing your business effectively is to become well known in your community by attending any and all networking opportunities you have. Marketing is all about building relationships with others and then capitalizing on the opportunity to sell your graphic design services.
Customer Service

Customer service is key to your success. The clients you gain and the customer service they receive from you is imperative to your success. I’ve learned from my clients that they appreciate a quick response from me all the time. I recommend that you be available to your clients by email, phone and fax at all times.

I make a special effort to respond via email to my clients within 2 hours 6 days a week. I try to return phone calls even sooner if at all possible, even if it’s only to say that you received their call and will get back to them a little later. Every client has a sphere of influence and their referral will be dependant on the customer service they receive from you at all times.

A prompt response is a good indication of solid design work and will give your client confidence in your services. If your client has a pleasurable experience with you they will happily refer you on to all the people around them. In the beginning, referrals are the quickest way to build your business on solid ground and with minimal costs.
Minimize Costs As Much As You Can

The last thing I’d recommend is to keep your costs to a minimum as much as you can. I’ve built my business by starting out working from my home. The great thing about graphic design is the ability to do the job from the comfort of your home and this is a great way to minimize costs.

Operate on a debt free basis, paying for all your business expenses with cash. You can still use older versions of software to build solid designs without your clients ever knowing the difference, and without the constant cost of upgrading. While you are working from home, plan to meet with your clients at a local coffee shop or their place of business.

Send design proofs via email instead of printing them out on costly paper. In fact most of my business operates over email. I send invoices, proofs, contracts, and estimates via email so I don’t have to pay for the paper, ink, envelopes, and postage. There are a lot of corners you can cut in order to save money.
I hope this article has helped by giving you some practical ideas on how to build a successful graphic design business with minimal costs.

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Strategy Implementation

Developing a strategy-supportive culture
* Creating an effective organizational structure
* Redirecting marketing efforts

* Preparing budgets
* Developing and utilizing information systems
* Linking employees compensation to organizational performance.

Strategy EvaluationReviewing external and internal factors that are the bases for current strategies

* Measuring performance
* Taking corrective actions.
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