Is It Wise To Build Custom Automated Forex Trading Software?

It seems like people are jumping on board with a very radical solution to their trading woes by building their own automated Forex trading software programs! If you're considering whether it's a wise move to try to build your own automated currency trading system, there are a few things that you should consider before you take the plunge. Here are a few of the main considerations you should take on board before committing yourself to any serious development project.
What's Involved In Building Your Own Automated Forex Trading Software Program
I've personally developed dozens of profitable and not so profitable automated Forex trading software programs, so I daresay I know a thing or two about the entire process. If you think it's just a matter of throwing a few indicators together and saying "buy when X" and "sell when Y", then you're very much mistaken. In fact, you've probably heard from a couple of "gurus" that you should keep combining different indicators and backtesting each unique blend until you find a winning formula.
Well, the problem with that approach is, that ultimately you're going to find a winning combination that would have worked magically in the past, but will it work again in the future? You can never know for sure, after all people do win the lottery every week, and who's to say that your automated Forex trading software program hasn't stumbled on an extremely lucky combination that would have made you millions trading "past data"? That's the flaw with testing random combinations, and I can tell you from experience that these systems don't last more than a week in real trading.
So Is It A Good Idea To Build Your Own Automated Forex Trading Software Program?
You might be surprised, because I do actually think that it's a good idea for people to build their own program... but only if they have a lot of experience trading and are wiling to dedicate their time learning how to develop that prior knowledge into a working trading system. That's because an automated program will allow you to free yourself from actually having to do the trading, and eliminate your emotion from the process as well. That said, if you're new to the markets and don't have much experience trading then it's a really bad idea. That's because you don't really have any experience or solid knowledge in either skill sets for developing a profitable automated Forex trading software program, and therefore you should give this route a miss.

Be sure that you know the facts about automated Forex trading before you do anything else! Everything you need to know about making a profit with automated Forex trading software can be found on my website.

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Forex Trading - Understanding All The Major Pairs

If you are just starting out in Forex Trading, then getting to know the 4 major currency pairs is a must. Known as "The Majors" for short, these 4 currency pairs are the most commonly traded pairs in the market and they are also the most liquid. For the uninitiated, the liquidity is being able to convert an asset into cold-hard cash in a quick manner, but without having a large effect on the asset's price. When talking about Forex Trading, liquidity pertains to being able to buy and sell currency pairs with no effect on its price. The more liquid a pair is, the less 'movements' it will make when you buy or sell large orders. Now that we are done with that, let's have a closer look at The Majors:
The Majors 1: EUR / USD
When talking about the most traded currency pairs, EUR / USD tops the list. Not only is it the most commonly traded, it is highly liquid too... making it very suitable for Forex traders who are just learning the ropes or the ins and outs of the market. The average daily range for this pair is 100 pips. While EUR / USD trades actively 24 hours a day and 7 days a week, you want to do your trades on the most action-concentrated hours. This is when US and European banking hours overlap each other. That's around 7AM EST to 10AM EST. If you want to see how the US economy is doing compared to the rest of the globe, checking out this pair is the way to go.
The Majors 2: GBP / USD
Following the Euro vs. Dollar is the British Pound (GBP) vs US Dollar (USD) currency pair. A widely traded pair, it's more volatile than average, and with that in mind, newbies in the Forex Trading industry should steer clear from it until they have gathered some experience. Movements have a daily average of 150 pips up to 200 pips. This volatile currency pair is most active from London open until it reaches lunch time in the UK, which is around 4:30AM EST. Also, it's active during the early hours of the US trading session. That's between 7AM EST up until 10AM EST.
The Majors 3: USD / CHF
On the third spot, we have the US Dollar (USD) vs. Swiss Franc (CHF) currency pair. If you are someone who wants to visually estimate the strength of USD currency, this is a good pair to use or trade on. It often travels at 100 pips daily. This pair is most active during the opening hours of European trading session (that's 3AM to 4:30AM EST) through the early hours of US Trading Session (7-10 AM EST).
The Majors 4: USD / JPY
Last but not the least, we have US Dollar (USD) vs. Japanese Yen (JPY) trading pair. What's interesting about this trading pair is that it has its own 'behavior' if you will. There are times that it will move opposite the direction of other dollar pairs (this is especially true during risk aversion in the markets). It can also become highly unpredictable compared to other pairs. It has a daily range of 100 pips, and it is most active during the opening hours of the Asian session (6PM to 9PM EST) and early hours of US trading sessions.

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Forex Training Lesson 2 - Trade a Breakout Like a Pro (B)

In your Forex training programme you should be taught to know when trading breakouts, we are looking for an increase in volume to avoid false breakouts. This means that when the price is breaking above the £10 level (resistance) or below the £5 level (support), the more people pushing prices higher or below that consolidation area the better as this gives Forex traders more conviction to stay with their trades. Also bear in mind that breakouts can and do lead to an increase in volatility and possibly the beginning of trends or reversal of the previous trend.
The reason why breakouts are so popular and profitable is down to the rationale and psychology about the mood in the market, and also the fact that it can be used on any time frame from weekly to a 1 minute time frame.
As was alluded to earlier, it's crucial to identify support and resistance levels. Also, these levels become even more significant the more times price has tested them So, in our case if buyers have attempted to push price above £10 five times in the past, successful Forex traders will consider that a stronger breakout that if buyers tested the £10 level only twice. You should also learn in your Forex training that the best breakouts are those which occur on longer time frames such as daily or 4 hourly timeframes rather than the 1 minute or 5 minute breakouts, as the chances of getting whipsawed, or false breakouts are much higher.
The rules for establishing an entry order for either a long or short position are the same. Whenever prices break above resistance or below support by however many pips, points or cents you choose to assign, you enter the trade. It is also important to be aware of false breakouts, which is where price breaks out of the consolidation zone but then reverses and comes back into the zone without carrying on further in the direction of the initial breakout. Successful Forex traders will look for added confirmation to avoid false breakouts; confirmation could be an increase in volume or waiting for price to close well above the breakout zone.
In terms of where to exit the trade, there several ways to plan your exit target. Firstly, you may decide to use the range of the consolidation zone to set your target. So in our case price ranged between £5 and £10, hence when going long, initial profit target will be at £15. Another idea may be to look to the left of your chart for near resistance/support areas or swing highs or swing lows. How you approach this will depend on the education you have received on your Forex trading course.
Every consistently profitable trader will tell you that losing is part of trading and as successful Forex traders we know when we are wrong we must exit our trade; hence the use of a stop-loss order. Using the breakout strategy, a stop-loss can be set above or below recent swing highs/lows or just above support (when going short) or below resistance (when going long), the idea based on the notion that old support becomes new resistance and old resistance becomes new support. Given that price tends to re-test the area it has broken out of, rather than placing the stop-loss order right on the resistance or support line, it is important to give your trade room to breathe and allow the trade 'work out' and avoid getting stopped out early.
Please click on the link to see an example of how to trade a breakout in this manner.

Visit the London Stone Trading FX Success website for more information on Forex Training or our Forex Trading Course.

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Romney Was Right: Corporations Really Are People

If Mitt Romney becomes the Republican candidate for president, you are going to see a lot of attack ads that show him declaring: "Corporations are people, my friend." (1)
Romney made this observation last Thursday, standing before a largely hostile crowd at the Iowa State Fair. The comment quickly made its way to Twitter and YouTube. Journalists, looking for some early election drama, eagerly labeled it a gaffe. An NPR blog even referred to the comment as "an early Christmas gift" for Democrats. (2)
Most news reports, however, left out or sidelined the context of Romney's remark. On its own, the statement seems to be a reference to the legal concept of "corporate personhood," the idea that corporations have certain basic rights such as the freedom to enter into contracts.
A basic assertion of corporate personhood is not particularly interesting. Questions about the principle's reach remain, but the fundamental concept is well accepted.
Romney, however, was not talking about corporate personhood. He was responding to audience members who suggested that an increase in taxes on "people" could be avoided by instead taxing "corporations."
"We have to make sure that the promises we make in Social Security, Medicare and Medicaid are promises we can keep, and there are various ways of doing that," Romney said. "One is we can raise taxes on people."
"Corporations!" a member of the audience interrupted, echoed by several others.
That was when Romney made his now famous remark: "Corporations are people, my friend."
"No, they're not!" the audience members responded.
"Of course they are," said Romney. "Everything corporations earn ultimately goes to people."
The point Romney was trying to make is an important one: Corporations are not alien entities from which money can be magically retrieved. They are human creations, and taking money from corporations has consequences that affect those human beings. Taxes on corporations are taxes on people.
Of course corporations are not exactly people. If they were, we would not need to create them. We would simply do all our business in our own names, getting supplies from places like Joe's General Store or Mary's Lumber Yard. But human beings have limitations, the most important of which is that we eventually die. Corporations, on the other hand, can outlast any single human life. IBM recently marked its 100th anniversary, a feat that would not have been possible if its destiny had been inextricably tied to that of its founder, Thomas J. Watson Sr., who died in 1956.
When I started my business 19 years ago, I did it in my own name, as most founders of start-ups do. But as the company accumulated clients, took on employees and opened new offices, it needed an existence separate from my own. Clients needed to know that the services they relied upon would not suddenly end if something happened to me. Employees needed to know that the company had a long-term future they could help build. So I created Palisades Hudson Financial Group LLC. While a limited liability company does differ in some ways from a corporation, it still creates a distinct entity. Along with setting up the LLC, I established an estate and succession plan to ensure that the new entity could go on without me.
The addition of those three letters at the end of the business name, however, does not change the fact that what happens to Palisades Hudson still ultimately happens to me. If taxes on the business increase, I will have to make changes, as I have already done in response to the burdens introduced by the health care reform act. If, in some distant future, I were to take Palisades Hudson public, its ownership would become more dispersed, but the owners would still be people. They would still feel the impact of increases in taxes or of any other conditions affecting the business.
This is the principle that Romney asserted. On its surface, the audience members' claim that corporations are not people in this sense seems absurd. It is, however, understandable when viewed as a holdover from a time when union members made up a large percentage of the private sector work force. In those days, people tended to think in terms of two distinct groups - unions and businesses - whose interests were mutually exclusive. Each side defined the other in terms of contrast. By that logic, if unions were made up of people, businesses had to be something else - some sort of inhuman force. In reality, both unions and businesses were then, as now, human-created entities, used to organize the collective efforts of groups of people.
Most people have come to recognize that workers and business owners are essentially in business together. Taxes and other burdens on business do not just affect the entity, nor even just the entity and its owners; directly or indirectly, those taxes affect employees too. Union membership has plunged as this idea has taken hold.
The idea of corporations as somehow independent of human interests, however, continues to be an important part of the Democratic Party's rhetoric. This allows Democrats to use "corporations" as both scapegoats and money trees, while ignoring the consequences for the individuals behind those corporations. In his simple statement, Romney challenged the lie inherent in that rhetoric.
Romney may take flak from Democrats over his comment, but he is only saying what nearly everyone already knows. And while Exxon or Apple won't be going to the polls, those companies' shareholders, managers and employees will be. I suspect that they, too, will remember Romney's remark. They won't be so quick to call his defense of their interests a gaffe.
Sources:
1) The New York Times, "'Corporations Are People,' Romney Tells Iowa Hecklers Angry Over His Tax Policy"
2) NPR, "Romney's 'Corporations Are People' A Gift To Political Foes"

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Why the Right Website Hosting and Website Building Is Important

When it comes to church website hosting there are several options to choose from. Website hosting is a type of hosting service that provides space on a server. Some companies offer complete web design and hosting packages that save time and money.
By using a system that is capable of providing more than just a basic one page website service, professionalism is achieved. This may seem extreme for a small church but consider the possibilities. Reaching out to millions of people with an important message is suddenly within your grasp without hiring a marketing team or spending thousands of dollars in advertising.
Benefits of Shared Church Website Hosting
Church website hosting can be shared with other companies and ran off of one large server, bringing down the cost significantly. There are even firms that are able to offer free hosting due to the huge number of users involved. When domains share the same server with numerous sites, websites can enjoy a 99.9% uptime on the Internet. Downtime for servicing can be inconvenient. Visitors may even begin to wonder if there isn't a major problem with your website.
Website Building can be Extensive
Small hosting can leave you limited as to the amount of room that you are allowed. You may think that only four or five pages is enough to show the news, activities and special events of your church but many church sites begin small. It is much easier to have the capacity to expand than to change hosting and begin building all over again. With the number of features, templates and technology just developed in the past couple of years, who could know what will be available in the future. Be prepared for expanded website building and start with the storage space you may need.
Website Building that Flows
A theme is the best place to start and leave the rest to a competent website designer that is seasoned in the field of charity websites, church website hosting and not-for-profit organizations. Each subject has their own needs and beginning with someone who knows the ropes will save you from looking at themes, colors and pictures that are not appropriate for your website. Chances are, the same type of churches will share your church website hosting server, making you feel more comfortable.
Not only can you count on your website to be up and running no matter what the time of day but consider the audience overseas that are on a different time than you are. Just because a church has a physical location doesn't mean that it cannot be used to spread the Word to every corner of the earth. Perhaps you sponsor a cause each year that would be of interest to others. Form a page with weekly sermons or uplifting stories and phrases for shut-ins. The possibilities are endless in website building and because you never want to run out of space, select a company experienced in church hosting to make sure you have adequate room.

For more information visit Church Website Hosting.

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Unveiled: Myth of Non-Profit

Modernly, an entrepreneur has a myriad of options when it comes to the legal formation of the business. The sub-categories for business entities range from corporation to limited liability companies and many others. Even with all the different sub-categories, an overarching consideration involves a decision concerning whether the business should be for profit or not. Instinctively, most people would choose the former over than the latter because they would assume that a non-for profit would not generate income. However intuitive, that assumption would be faulty.
The designation non-profit is not synonymous with the business' potential to produce income. Instead, it is a government induced name for a business to obtain some tax benefits when it is operated for charitable interests. When a business is for profit you have a direct exchange of money for services between the customer and the business. On the other, with a non-profit the business does not receive income directly from the customer; a third party pays on behalf of the customer. That third party may be a foundation or government entities who donate to the business. In either scenario, the business will generate income.
The decision concerning which type of entity would be most advantageous depends on the type of business involved. Some business ideas will automatically push you in one direction or another. For example, an idea to create a women shelter will automatically push you toward the non-profit category and a retail store will generally push you closer to being a for profit business. There are some ideas which do not specifically fall into either category. In that case, someone may use some creative brainstorming to categorize themselves as a non-profit to benefit from the advantages that the designation affords.
Some of the advantages of the non-profit status include public funding options, tax exemption benefits and smoother operational functioning. In business operation, the designation of non-profit eliminates the interaction with the consumer for the payment of services. It allows the business to focus on the service, not the bottom line. This shift allows the consumer to view the business differently because they don't necessarily have to reach into their pocket every time they receive service. That dynamic allows for a relationship of trust and mutual collaboration between the business and the customer.
A person who is considering filing for non-profit exemption should also consider some of the drawbacks. To begin with, the process to obtain the exemption is costly and lengthy. From the organizational standpoint, a higher level scrutiny is placed on the organization for business records. The owner also has to share control of the business with board of directors who shape and craft the bylaws and rules of the organization. Lastly, the owner cannot pocket the business' earnings unless it is a salary which must be reasonable because the business' financial records are matter of public records.

Catherine works as a business consultant empowering entrepreneurs with the necessary tools and resources to bring their entrepreneurial aspiration to success. She holds a Juris Doctorate degree of law specializing in Business and has extensive experience with all aspects of business formation. Connect with Catherine at Catherine.delcin@gmail.com, or connect with her on Twitter at http://twitter.com/CatherineDelcin.

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Tender Writing - Hire A Professional To Do Your Work

A good tender writer is a key to winning tenders for your company. Using skilled and quality tender management and tender writing professionals is the best way to win bids when your company is competing against many others, who may have more experience than you. You are competing for a tender against many other companies, and almost every company is looking for an edge, so having a tender writer who knows how to write an excellent bid that will stand out from the competition is a great asset to have.
The process starts when an appropriate Invitation To Tender (ITT) is identified. The ITT is an official document published by a company that lets other companies know that bids for a project, piece of work, or service are needed. The tenders must always be submitted by a fixed deadline, so the process and tender management is very time intensive, therefore having a quality tender writer on your staff is imperative to applying for funding and winning tenders. A well-written tender can bring a great amount of revenue and business to your company.
Tender writing is not something that just anyone with good writing skills can do well. The requirements for many tender and bid submissions are very specific. It takes a great amount of time for an individual to learn and acquire the skills necessary to meet all of the requirements for submitting a tender, and to do it well. There are many courses available to give an employee the necessary training to write winning tenders. These courses also often offer other information relevant to successful tender writing, like researching the company and making sure the tender is original. Making sure word requirements, font requirements, deadlines, and spelling and grammar requirements are met when applicable is also imperative to successful. You are competing with so many other bids and tenders; it is imperative that what your company submits must be impeccable in order to win the bid.
If you do not feel that having a tender writer on staff is the best option for your company, there are also many different tender and bid writing services available that you can utilize who will write tenders for you. Similar to a resume writing service, tender writing and bid services know the market inside and out, and typically have years of experience in the field. This can be a very attractive quality about tender writing services that many companies are willing to pay for. Just be sure to research any bid service or tender writing service to make sure they are a good fit for your needs.

Want tips on writing tenders? Executive Compass provides a range of business. They provide professional resource for business owners and managers looking for help with a variety of organisational and business improvement issues across the United Kingdom. For further details visit: http://www.ExecutiveCompass.co.uk

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