FOREX EDUCATION -FOREX TRAINING
FOREX EDUCATION -FOREX TRAINING
Do you have what it takes to become a successful Forex Trader?Forextrading, or any trading for that matter, is an occupation that requiresexperience and the accumulation of proficiency not unlike any other highlyskilled profession. Whether you are a leading executive at a major publicallytraded company, a professional golfer or trading from your kitchen table, thereare 5 key ingredients that one must possess in order to become successful.1. Youmust be Passionate about what you do.As Forex traders we all face one unique setof circumstances that does not exist in any other profession. We get rewardedfor when we succeed and equally punished when we don’t! Could you image acorporate worker one quarter receiving a significant accomplishment bonus andthe next quarter actually getting money taken from their paycheck for missingperformance targets? Not on your life!We do as Forex traders and that is whypassion for what you do will carry you through the tough times that are part ofyour trading business. Asked yourself why you trade currencies and would youstill do it if Forex were not potentially lucrative? Your answers will be quiterevealing. You’ve got to feel your passion for trading!2. You have to ApplyYourself and work hard at it.I talk to so many people that enter into Forextrading with the aspiration of getting rich quick. Without putting the time andenergy into really getting good at trading I see them jump from strategy tostrategy looking for the goose that will lay the golden egg and eventuallyquitting while blaming everything else, except the true cause.I got news for you– you are the goose and your Forex education is the golden egg. The magic hasalways resided with the magician and not some strategy. Work hard at trading andthe rewards will eventually come your way. Remember what Tiger Woods said,“Funny, the harder I work the luckier I get.” Apply yourself as a trader and itwill be no accident when your account begins to blossom.3. You must Focus toreally get good at what you do.Now here is the hurdle most Forex tradersstruggle to get over. You have the passion and you are applying yourself to yourtrade, now focus and really get good at just at what you are doing. Be theexpert to the experts at just that one thing. Become the master of a strategy orrisk management methodologies. Really focus on getting good at it.Stop jumpingaround or getting pulled from the last “latest and greatest” into the next“latest and greatest” and focus on one aspect of Forex trading and know itinside out. Know it strengths and weakness. Set your sights on becoming experton just one aspect of trading and watch it spill over in all other aspects foryour currency trading. This is the time to fail forward fast, use every setbackas a learning opportunity that will propel you 3-steps ahead!4. You must PushYourself beyond the point everyone else might have quite.In Forex Trading thisis simple. Assume there is someone on the other side of your trade that ispushing themselves and sharpening their edge. To be successful you must you mustdo the same thing. Now is the time to examine your mental edge. Do you know thesingle most critical factor in any currency trade? It is you, the trader!Sharpening you mental edge is the most difficult aspect of trading, but also themost rewarding.Start with your Forex education and gain the self-awarenessnecessary to maximize your strengths and suppress your weaknesses. Any expertwill tell you that trading is 80% mental. It’s time to sharpen your trading tothe razor’s edge and you do this through Forex education. A constant and neverending process that will become the cornerstone of your Forex experience.5. Youmust, without wavering, be Determined and Persist to your objective.You willfail. I can state that emphatically. However, you will not be defeated unlessyou allow your failures to control your trading. It is the old adage; failure isnot falling of your horse, failure is refusing to get back on. Your successdepends on your ability to dismiss the criticism, rejection, self-doubt andpressures associated with Forex trading.Defining what is a winning trade, losingtrade and bad trade will go a long way into developing you as a successfultrader. Without the determination and persistence in all aspects of your tradinglife, obstacle will definitely appear closer and larger than they actuallyare.Take a moment and assess yourself and your trading. Do you have the keyelements to succeed? Which areas are presents development opportunities? Whenconducting a self-evaluation it is critical to be totally upfront and honestwith yourself. After all, you will only be dishonest with yourself. One of themost interesting observations you can make is that all key success factors areinterwoven. One factor supports the other. This is why your Forex education is acontinuous journey of forex strategy, money management and self-mastery. Setthese factors as your Forex education goals and take your currency trading tonew heights
New in FOREX
TFI FX Trading Platform provides you with all the necessary tools you need to trade, including a variety of technical indicators and unlimited charts.
The FX market is a global over the counter (OTC) market (i.e. no central bank or clearing house acting as an intermediary). Deals are agreed between participants where firm credibility and local regulations ensure the delivery of transactions.
A number of market contributors execute FX deals to finance international business so as to acquire a range of assets and services. Others sell/buy currencies for speculation aiming to profit from price fluctuations. The international demand and supply for currencies is what determines the exchange rates of all currency pairs at any given moment.
The foreign exchange market is unique because of
- its trading volumes,
- the extreme liquidity of the market,
- the large number of, and variety of, traders in the market,
- its geographical dispersion,
- its long trading hours: 24 hours a day except on weekends
- the variety of factors that affect exchange rates.
- the low margins of profit compared with other markets of fixed income (but profits can be high due to very large trading volumes)
- the use of leverage
The first currency in the pair is called the base currency and the second is called the counter currency.
The base currency is the ‘basis’ for purchases and sales.
For example, if you buy EURUSD, then you acquire Euros and sell Dollars. You do this if you expect the Euro to grow against the Dollar.
Forex Market Hours
Our Dealing room and Customer Service Team is available 24 hours from 22:00 GMT Sunday to 21:55 GMT Friday.
Getting Started
Client Terminal is a part of the online trading system. It is installed on the trader's computer and intended for:
receiving quotes and online market analysis
- instant execution of orders
- managing of open positions and pending orders;
- various tools for technical analysis
- writing of expert advisors, custom indicators, scripts
- testing and optimizing trading strategies
For making a decision to trade, reliable on-line information is necessary. For that, quotes and news are delivered at the terminal in real-time. It is possible to analyze markets using technical indicators and line studies. Moreover, to ensure more flexible control over positions, several order types are built into the terminal allowing maximum flexibility.
The Client Terminal can operate under Microsoft Windows 98SE/ME/2000/XP/2003/Vista
Shadyside inn suites
Shadyside inn suites
Imagine having your own apartment in the best location in Pittsburgh for as little as a day or for as long as a lifetime. Shadyside Inn Suites is as flexible as you need. Only going to be here for a night? Why not have your own fully equipped apartment? Need somewhere to stay for a month while your house is renovated? Shadyside Inn Suites is your answer. Looking to attend the University for only nine months? Shadyside Inn Suites can accommodate. Think this is going to cost you more than a hotel? Not even close. Our rates are lower, our suites are double the size of any hotel in the area, our parking is free, and our location is unrivaled.
Our suites are located within a block or two of some of the best dining, entertainment, and shopping in Pittsburgh. At your door are 135+ shops, 15+ restaurants and some of the best nightlife in the area. Shop in small boutiques, visit your favorite national store, and dine on cuisines from all over the world. Shadyside living is unmatched.
Stay in Shadyside and still be approximately 4 miles from Downtown Pittsburgh and the Convention Center and less than 1 mile from the following hospitals: Presbyterian, Montefiore, Magee Women's, Falk Clinic, West Penn, Children's, Shadyside Hospital, and Western Psychiatric
Within 1 mile of the Shadyside Inn Suites is The Carnegie Museum of Art, The Museum of Natural History, The University of Pittsburgh, Carnegie Mellon University Chatham College, and Carlow College.
Besides coming for a visit, the best way to learn about our story is read what other people have said about us. Please click on the following links to read what the professionals have to say.
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KYC compliance
KYC COMPLIANCE OVERVIEW
Know Your Customer (KYC) compliance regulation has proved to be one of the biggest operational challenges banks, accountants, lawyers and similar financial service providers worldwide have had to overcome.
World-Check, the industry standard KYC compliance solution, provides an overview of KYC compliance and its origins, and outlines the compliance mandate as applicable to banks, accounting firms, lawyers and other regulated financial service providers – not just in the UK, Europe and the USA, but all around the world. Relied upon by more than 3,000 institutions worldwide, this KYC database solution provides effective legal and reputational risk reduction.
Why “Know Your Customer?”
The 9/11 terrorist attacks on the World Trade Centre revealed that there were sinister forces at work around the world, and that terrorists activities were being funded with laundered money, the proceeds of illicit activities such as narcotics and human trafficking, fraud and organised crime. Overnight, the combating of terrorist financing became a priority on the international agenda.
For the financial services provider of the 21st century, “knowing your customers” was no longer a suggested course of action. Based on the requirements of legislative landmarks such as the USA PATRIOT Act 2002, modern Know Your Customer (KYC) compliance mandates were created to simultaneously combat money laundering and the funding of terrorist activities.
What is Know Your Customer (KYC)?
Know Your Customer, or KYC, refers to the regulatory compliance mandate imposed on financial service providers to implement a Customer Identification Programme and perform due diligence checks before doing business with a person or entity.
KYC fulfils a risk mitigation function, and one its key requirements is checking that a prospective customer is not listed on any government lists for wanted money launders, known fraudsters or terrorists.
If preliminary KYC checks reveal that the person is a Politically Exposed Person (PEP), for example, Advanced Due Diligence must be done in order to ensure that the person’s source of wealth is transparent, and that he or she does not pose a reputational or financial risk in terms of their finances, public positions or associations. Beyond customer identification checks, the ongoing monitoring of transfers and financial transactions against a range of risk variables forms an integral part of the KYC compliance mandate.
But to understand the importance of KYC compliance for financial service providers better, its origins need to be examined.
Origins of Know Your Customer (KYC) compliance
The arrival of the new millennium was marred by a spate of terrorist attacks and corporate scandals that unmasked the darker features of globalisation. These events highlighted the role of money laundering in cross-border crime and terrorism, and underlined the need to clamp down on the exploitation of financial systems worldwide.
Know Your Customer (KYC) legislation was principally not absent prior to 9/11. Regulated financial service providers for a long time have been required to conduct due diligence and customer identification checks in order to mitigate their own operation risks, and to ensure a consistent and acceptable level of service.
In essence, the USA PATRIOT Act was not so much a radical departure from prior legislation as it was a firmer and more extensive articulation of existing laws. The Act would lead to the more rigorous regulation of a greater range of financial services providers, and expanded the authority of American law enforcement agencies in the fighting of terrorism, both in the USA and abroad.
In October 2001, President George W. Bush signed off the USA PATRIOT Act, effectively providing federal regulators with a new range of tools and powers for fighting terror financing and money laundering. During July 2002, the US Treasury proceeded to introduce Section 326 of the PATRIOT Act, a clause that removed some key burdens for regulators and added significant enforcement muscle to the Act.
What 9/11 changed, in essence, was the extent to which existing legislation was being implemented. Using the provisions of the earlier anti-terrorism USA Act as a foundation, it included the Financial Anti-Terrorism Act, which allowed for federal jurisdiction over foreign money launders and money laundered through foreign banks. Significantly, it is this anti-terror law that would make the creation of an Anti Money Laundering (AML) programme compulsory for all financial institutions and service providers.
Section 326 of the USA PATRIOT Act dealt specifically with the identification of new customers (“CIP regulation”), and made extensive provisions in terms of KYC and the methods employed to verify client identities.
In accordance with this piece of updated KYC legislation, federal regulators would hold financial institutions accountable for the effectiveness of their initial customer identification and ongoing KYC screening. Institutions are required to keep detailed records of the steps that were taken to verify prospective clients’ identities.
Although current KYC legislation does not yet demand the exclusion of specific types of foreign-issued identification, it recommends the usage of machine-verifiable identity documents. The ability to notify financial institutions if concerns regarding specific types of identification were to arise, combined with a risk-based approach to KYC, proved to provide a robust mechanism for addressing security concerns.
Effectively, the risk-based approach to customer due diligence grants regulated institutions a certain degree of flexibility to determine the forms of identification they will accept, and under which conditions.
KYC compliance: Implications for banks, lawyers and accounting firms
The KYC compliance mandate, for all its positive outcomes, has burdened companies and organisations with a substantial administrative obligation. Additionally, KYC compliance increasingly entails the creation of auditable proof of due diligence activities, in addition to the need for customer identification.
In order to meet KYC compliance requirements, financial institutions must:
- Verify that customers are not or have not been involved in illegal activities such as fraud, money laundering or organised crime
- Verify a prospective client’s identity
- Maintain proof of the steps taken to identify their identity
- Establish whether a prospective customer is listed on any sanctions lists in connection with suspected terrorist activities, money laundering, fraud or other crimes.
World-Check: A one-stop risk intelligence solution for KYC compliance
World-Check, as the world’s leading provider of highly structured risk intelligence, offers financial services providers a comprehensive solution for meeting their KYC compliance requirements.
Featuring a downloadable Data-File for the automated batch screening of entire client bases, and Online Service, the web-based equivalent that allows for the individual screening of persons or entities from any PC or laptop worldwide, it is the KYC and AML intelligence solution of choice for more than 2,500 institutions worldwide. Boasting 47 of the world’s 50 largest banks as clients, with an annual client renewal rate of more than 97% for the last 7 years, the facts speak for themselves.
World-Check allows for the creation of electronically verifiable proof of due diligence, and also enables institutions to check machine-readable passports for authenticity using Passport-Check.
Find out more about this comprehensive KYC risk intelligence solution.
Luxury Yacht TRUE BLUE
Luxury Yacht TRUE BLUE
TRUE BLUE has a very distinctive styling with sleek lines, while her Jon Bannenberg designed interior offers beautiful, light and airy accommodation for 10 guests. The yacht comes fully equipped with a gymnasium, two tenders, water skis, wakeboard, waverunners and windsurfers. The sun deck offers a Jazucci and plenty of space for relaxing or alfresco dining
Luxury Boats
Luxury boats are available for charter by many agents -or individual yacht owners sometimes- online. Our aim is to provide you as many of them we can, so you will be able to choose the company (or owner) that suits you most.
You may also view a number of selected by us luxury boats. For practical reasons we divided these crewed yachts in three major categories, motorboats, motorsailers and sailing yachts. Choose the type you prefer by clicking the appropriate category.
Luxury boats are rather expensive to charter -compared to other forms of sailing vacations.
The charter price we indicate for each vessel is the average price you will need to pay for this particular boat, as we found it on the web through various companies' catalogues.
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