3 Forex Trading Tips and Tricks

21 June 2021

It is easy to open a trading account on Forex and start trading. However, studying the market and formulating a winning trading strategy takes effort and experience. Even experienced traders often fail to make the right trade and suffer great losses. However, this should not keep you from entering the market. A loss is an opportunity to learn and make better choices in the future.

Despite the inevitability of a loss in the long term, avoiding major and frequent losses only requires you to stick to certain tips and tricks when Forex trading. Below are three tips and tricks that can help you build a strong portfolio on your Forex trading account.

1. Simply Trade with the Trend

Many traders have heard it many times, “trend is your friend” which ultimately emphasizes the importance of trading with the current trend. This is a very simple trick that promises a profitable outcome, and yet, the vast majority of forex traders do not follow it.

Sometimes, the reason why people do not follow this trend is that they do not know how to identify some of the common uptrend indicators and signals. For this, you will have to learn about reading a candlestick graph.

Even if you cannot identify using some of the basic technical analysis techniques, some trades have all the fundamental backing towards their rise, and almost all the news shows positive signals towards them. Not capitalizing on those opportunities means that you are letting go of an easy opportunity to bag a profit.

2. Trade Contra Crowd

What does this mean? Well, the market is made up of two different players. The first is smart money, which is the banks, institutions, hedge funds, and billionaires. These entities are winning the majority of the time. On the other side, you have the herd or the retail traders, and as you know, the retailers are usually the ones that are oftentimes on the losing end of the trade.

Therefore, now that you know that the retailer’s trading strategy usually has them in losses and rarely in profits, it is almost a no-brainer to follow what the herd is trading. Instead, you can do just the opposite and have a better win ratio.

Simply by trading opposite to how the herd trades, the chances that you will be sitting at a profit ultimately increase. You can find many tools that show you the total number of retail activity in the market and this can help you either short or long positions on a trade by looking at what the vast majority are trading.

Once you start making trades that oppose the majority retail sentiment in the long run, your trades will begin to gradually align with the winners in the market, causing your Forex journey to become more profitable.

3. Use Stop Loss

Using stop-loss on your trades can give you a better risk to reward ratio. Limiting your buy order to stop loss at a given price can ultimately help you exit when the market becomes very volatile and the price starts to fall below its previous resistance levels.

Many traders do not bother putting a market order because they do not want to sell early and miss profits. However, this greed can be the reason for your turmoil in this market. The downside of stop-loss is that sometimes the market may not come to the level that you are expecting.

This is just a balance between where you expect the market to go, and at which point can you not bear the loss. Using it on every trade keeps you on the safer side of the trade, even if it means that you have to miss some profits.

A rough guideline on where you should put the stop loss is putting it near the market structure. Most of the times, a candlestick graph will have very clear support and resistance, and just by looking at the market structure, you can identify where you should stop your losses.

To Conclude:

Overall, the tips of making profitable trades are simple and have no secrets to them. They are usually very clear tips that every trader knows bout, yet does not follow. One bonus tip would be to hold your traders except panic selling at a loss.

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7 Best Employment Law Tips For Businesses In Dubai

Are you planning to do business in Dubai? If yes, you must know the rules and regulations of employment laws in Dubai to settle there comfortably, especially the employment law, to start your job or business there. If you want to excel in your business field, you must know the country’s laws in the best possible manner. You cannot consider things for granted here. You must make your plans in the right direction to achieve your objective in the best possible way. As per the report of the Gulfnews, the labor laws are well protected in Dubai, and you cannot make any mess with it there. Best Employment Law Tips For Business In Dubai in 2021 Several employment law tips you can follow in Dubai to carry on your business successfully there. Therefore, let’s explore some of the essential facts in light of this matter. 1. Your Employees Have The Right To Take Annual Leaves The employees in Dubai have the full right to take annual leaves on several occasions; being an organization’s employer, you cannot ignore this fact. There are several kinds of leaves that you can enjoy there. For instances: Your employees can enjoy one day’s leave for new Year’s day. Your employees can enjoy the Islamic new year for one day. Your employees can enjoy Eid al Fitr for two days. Employees can also enjoy Eid Al Adha for Four days. Employees can also enjoy National Day for two days and Commemoration Day for one day. These are the leaves you must give to your employees if you are working in Dubai. You cannot bypass these leaves being an employer of an organization. The worker is entitled to annual leave for one year. Understanding the various national holidays and addressing any possible disputes that may or may not arise requires you to seek the assistance of the best uae law firms. They have an idea about the nature of society and will be able to guide you in the best possible manner. 2. Your Employers Must Pay The Wages Regularly Your employees are entitled to receive the wages regularly in terms of the national currency of the state. Workers who are employed for monthly or annual wage must be paid once per month. An employer cannot force their employees to purchase their products from their stores. It will be considered an offense if the employer does so in Dubai. If you have accidentally breached the law, then you can consult the best law firm in Dubai. It is not necessary that your employees must buy the food or any goods from the owner’s shop in Dubai. You need to understand the law of the land before developing your business plan in Dubai. 3. You Cannot Deny The Maternity Leave Of Your Employees You are not supposed to deny your employees maternity leave, even in the case of your immense work pressure. As per the labor law of the country Labour Law No eight and Article Number 30. A female worker is entitled to maternity leave for 45 days. Being an employer of the organization, you cannot evade out this law. 4. Your Employer Is Not Allowed To Keep Your Passport Your employer is not allowed to keep your passport in their custody. You are not entitled to keep your employees’ access; it is actually against the law of the land. Furthermore, no employer can terminate the employee for not surrendering the passport. Your basics must be cleared regarding the employment rules in Dubai. Without the right knowledge, you cannot excel in your field. Ensure that you have not committed such mistakes in Dubai while running your business there. Your policies must be correct enough to deal with this matter efficiently. 5. Your Employees Must Not Bear The Cost Of Residency Visa Your employer must bear the cost of the residency visa in the UAE. The company must take the responsibility of the employee in this regard UAE. The Visa cost and sponsorship costs are the sole responsibility of the employer. If you want to grow your organization in the UAE, you must know this rule in detail. You cannot afford to make a mess with the law of the land. The only thing you must be aware of is that you must not violate the nation’s rules while operating your business in Dubai. 6. You Cannot Force Your Employee To Work For More Than 8-9 Hours A Day You cannot force your employee to work for more than 8-9 hours a day in the UAE. It is a criminal offense and against the labor law of the land. You must know this fact in advance before setting your organization’s rules in the best possible manner. The total working hours for an adult in Dubai are 8 hours a day and 48 hours a week. You need not exceed that landmark in your case. The more vigilant you will be in this regard, the better it will be for you. 7. Employers Consent Is Not Required For Resignation The employer’s consent is not required if your employee wants to resign from your organization. It is solely the discretion of the employee to do the job for you. You cannot force your employee to stay and work for your organization. It is your employee’s sole individual decision and being an employer, you cannot force your employee to stay in your organization without their wish. It is wrong from the endpoints of the employer. Ensure that you know the rules and the regulation of the state in the best possible manner. Conclusion Hence, if you want to run your business in Dubai successfully, you must know the land rules in the best possible manner. You cannot ignore these facts while you are opening your organization in Dubai. Ensure that you have followed the laws of the nation in the best possible manner. Make sure that you have followed the rules of the country in the best possible way. Ensure that being a leader of your organization; you have not violated the rules of the nation. Make sure that you have followed the rules in the best possible way. The more precise you are in adopting your business policy with the nation’s laws’ alignment, the better it will be for your organization. Try to maintain the employment law properly to run your organization successfully. Read Also: Can an Employee Claim for a Personal Injury When Working From Home? Picking the Right Law Firm for You and Your Family Why Do Businesses Need Lawyer’s Advice?

Why Military Status Verification Is Important For Businesses

In today's society, many businesses are seeking ways to ensure that their employees and customers are who they claim to be. One critical aspect of identity verification is verifying military status. Military verification is an essential tool for businesses that want to ensure that their employees and customers are truthful about their military service. It is especially important for companies that work closely with the government or industries that require a security clearance. Military verification services provide businesses with the necessary tools to confirm an individual's military status. These services offer a range of options to verify military service, from a simple database check to more complex verification methods, such as contacting military authorities. While it may seem like a straightforward task to verify military status, there are many complexities and challenges that businesses may face. This article will explore why military status verification is crucial for businesses, the different methods of verifying military status, the challenges businesses may face, and the benefits of using a third-party verification service. By the end of this article, businesses will have a clear understanding of the importance of military verification and the steps they can take to ensure their employees and customers are truthful about their military service. The Importance of Verifying Military Status Verifying military status is essential for businesses for several reasons. Firstly, it is often a legal requirement for companies to verify an employee's military status. For instance, the Uniformed Services Employment and Reemployment Rights Act (USERRA) requires employers to reemploy servicemembers who have been absent from work due to military service. To fulfill this legal obligation, employers must verify the employee's military status before reemploying them. Secondly, verifying military status helps businesses ensure that they are complying with other legal requirements, such as those related to security clearances or government contracts. These industries have specific rules and regulations that require businesses to verify an individual's military status before granting access to sensitive information or facilities. Thirdly, verifying military status can help businesses make informed decisions when hiring, promoting, or awarding contracts. Knowing an individual's military status can provide valuable insight into their skills, training, and character. Military experience is often associated with qualities such as discipline, leadership, and teamwork, making veterans and active-duty servicemembers desirable candidates for many industries. Lastly, failing to verify military status can have significant consequences for businesses. For instance, if an employee falsely claims to be a veteran or active-duty servicemember, it can damage the business's reputation and lead to legal consequences. Additionally, companies that fail to comply with legal requirements related to military status verification may face financial penalties, lawsuits, or the loss of government contracts. Overall, the importance of verifying military status cannot be overstated. By ensuring that their employees and customers are truthful about their military service, businesses can comply with legal requirements, make informed decisions, and avoid potential legal and financial consequences. How to Verify Military Status? There are several different methods that businesses can use to verify military status. The following are some of the most common methods: DD Form 214: This is the official document issued by the military to indicate a servicemember's discharge status. Businesses can request a copy of the DD Form 214 from the employee or the National Personnel Records Center (NPRC). Pros: DD Form 214 is an official document issued by the military that provides a comprehensive summary of the servicemember's military service, making it a reliable source of information. Cons: Obtaining a copy of the DD Form 214 can be time-consuming, and it may not be possible to obtain one for certain individuals, such as those who are still on active duty. Military Service Records: These records are maintained by the NPRC and provide detailed information about a servicemember's military service. Pros: Military Service Records are a reliable and comprehensive source of information about a servicemember's military service. Cons: Access to Military Service Records is limited, and it can take several weeks or months to obtain them. Additionally, the records may not be available for certain individuals, such as those who served before the 20th century. Defense Manpower Data Center (DMDC): The DMDC maintains a database that businesses can use to verify a servicemember's military status. Pros: The DMDC database is a quick and easy way to verify military status. Cons: The DMDC database may not be up to date or accurate, and it may not be possible to verify the military status of certain individuals, such as those who served in the National Guard or Reserves. Best practices for verifying military status include: Verifying military status with multiple sources to ensure accuracy and completeness. Keeping records of the verification process and the sources used. Ensuring that personal information is handled securely and in compliance with applicable laws and regulations. Providing clear communication to the employee or customer about why their military status is being verified and how the information will be used. In summary, there are several different methods that businesses can use to verify military status, each with its pros and cons. Best practices include verifying the military status with multiple sources, keeping records of the verification process, and handling personal information securely. The Challenges of Military Status Verification Verifying military status can be challenging for businesses due to several factors, including: Complex Military Records: Military records can be complex and difficult to interpret, particularly for those unfamiliar with military terminology and abbreviations. The information contained in military records may also be incomplete or inaccurate, further complicating the verification process. Limited Access to Records: Access to military records is often limited to authorized personnel, making it challenging for businesses to obtain the necessary information. Additionally, the time and resources required to obtain records can be significant, further complicating the verification process. False Claims: Some individuals may falsely claim military status, making it challenging for businesses to verify the accuracy of the information provided. False claims may be intentional or unintentional, such as confusion about discharge status or military branch affiliation. Privacy Concerns: Military service records contain personal information, including Social Security numbers and dates of birth. Businesses must handle this information securely and in compliance with applicable laws and regulations, further adding to the complexity of the verification process. Changing Military Status: Military status can change over time, making it challenging for businesses to keep up with the current status of their employees or customers. For instance, an employee who was previously on active duty may have transitioned to the National Guard or Reserve, requiring a different verification process. To overcome these challenges, businesses can use third-party verification services that specialize in military status verification. These services have the expertise and resources necessary to navigate the complexities of military records and can help businesses ensure that their verification processes are accurate and compliant with applicable laws and regulations. Additionally, businesses can implement best practices, such as verifying the military status with multiple sources and keeping records of the verification process, to help overcome these challenges. Conclusion In conclusion, verifying military status is an important step for businesses that employ or serve military personnel. It ensures that businesses are compliant with laws and regulations related to military personnel and provides benefits such as tax credits and preferential treatment for government contracts. While there are challenges associated with verifying military status, including complex military records, limited access to records, false claims, privacy concerns, and changing military status, businesses can overcome these challenges by using third-party verification services and implementing best practices. By doing so, businesses can ensure that their verification processes are accurate, efficient, and compliant with applicable laws and regulations. Read Also: Negotiate Your Salary Wisely With These Seven Employment Law Tips 7 Best Employment Law Tips For Businesses In Dubai Most Common Merchant Account Issues Explained

How To Make Sure You Get The Best Service From Your IT Supplier

The advent of the internet has transformed how various organizational activities are conducted. Many businesses have incorporated IT into their business operations to keep up with the drastic changes caused by the internet. So, how does IT improve business operations? IT fosters the creation of different innovations that affect how business operations are conducted. For instance, the various IT processes help improve data storage, aids in broader and more efficient dissemination of information between multiple departments, and faster business operations processing. A business with an efficient IT process provides better quality services and has high productivity levels. Given how essential IT is to businesses' smooth functioning, you must get the best services from your IT supplier. What are the factors to consider when you are looking for better services from your IT supplier? Several factors play a part in determining how efficient your IT supplier will be. Looking for better service from your IT supplier? Below is an outline of the significant factors: 1. Choosing the IT supplier based on your needs The IT needs of your businesses determine the type of IT supplier suited for it. There are different types of IT suppliers, each providing a broad range of hardware, software, and IT services. They include: Manufactures: These suppliers sell their products and offer essential IT services. These suppliers are desirable if you are confident that you only need someone to provide you with IT services and support. Specialist suppliers: These IT professionals have expertise in a specific field, let's say, management systems or customer relations. Resellers: These mainly act as agents for hardware manufacturers. Nonetheless, some of them also offer software and a wide range of IT services and support. System integrators: These IT professionals deliver an integrated working station by selecting appropriate hardware and software depending on your specific needs. Consultants: These provide consultancy services tailored to meet the IT needs of your business. Consultants also sell services like IT setup and installation. 2. Creating a sufficient budget for IT Your IT budget determines the quality of services you get from your supplier. Most IT suppliers provide different types of services, including cloud backup services, monitoring services, maintenance services, data backup and restoration, firewall services, cybersecurity services, and provision of firewalls. The types of services your IT suppliers provide you will depend on your IT budgetary allocation. If your budget is low, you will likely afford only the essential IT services. Conversely, if you have sufficient budgetary allocations, you'll be able to afford vital IT services that will help improve your organizational efficiency and productivity. 3. Consolidating your IT services Some organizations have in-house IT personnel. Such organizations mostly rely on the services of this personnel for most of their IT solutions. However, there are IT services that the in-house personnel cannot provide. In such a case, the organization source for services of outside IT companies. While there is an option of getting these services from many companies, it is better to consolidate these services from a single supplier. Doing this fosters good relations with the given supplier. It also aids in their quick execution of the IT services, given that they are familiar with your system. Other benefits of consolidating your IT services with one supplier include: You will save on money and reduce the need to make repeat procurements. It gives you better bargaining power when negotiating for prices, given that you deal with one supplier repeatedly. It minimizes the failure of critical business services. 4. Choosing an IT supplier with a proven efficiency track record There are numerous IT suppliers available. However, the quality of services they provide differ. As such, it is vital that you choose a company that offers the best IT services. Some of the factors that determine an IT supplier's efficiency include the ability to complete IT services in time, availability of maintenance services, and ability to provide high-quality services. You can find such a company through referrals, checking their reviews on the internet, or outrightly researching on the internet on how suitable supplier's services are in fulfilling your IT needs. 5. Fostering a good relationship with the IT supplier Like the case with other suppliers, fostering good relationships with your IT supplier plays a massive part in the quality of services they will offer you. Some of the ways you can do this are by: Ensuring that you pay for their services promptly. Prompt payment reduces the chances of any disagreements with the supplier, leading to them opting to stop working with you. You are offering them reasonable prices for their services. When you pay your IT supplier affordable prices, there is a high probability that they will want to retain you as a client. Moreover, they will strive to provide top-notch services that ensure that your business grows. Renewing their contracts: When your IT services are offered by one supplier repeatedly, the chances are that they will become vested in your business such that they will work towards ensuring your business succeeds. 6. Choosing a company that offers a wide variety of IT services Working with a single IT company helps you foster a good relationship with the supplier and cut your IT services costs. When you work with a single IT supplier, you reduce costs such as procurement costs. Some of the IT services that you should consider when choosing an IT supplier include: Managed IT services: These include handling of remote servers, device and desktop management. These services will ensure that your system works smoothly. Cloud backup services: The supplier should know how to store your data on the cloud to be available even when the server has a malfunction. Monitoring services: keeping an eye on the server's net traffic, security, communication, and any other monitoring services that your system may need. Data back up and restoration: Should offer data backup with both external data centers and the cloud. You, therefore, won't have to worry about losing your data in case of any unforeseen problems such as malicious intrusions, natural occurrences, and hardware failure. Firewall services: Firewall services are vital in ensuring that your enterprise is insulated from cyber attacks. Preferably, your IT supplier should have a hybrid network with additional control and network monitoring abilities outside of the normal rulesets. Antivirus protection: Your supplier should provide you with up-to-date antivirus to protect your IT systems from any malware that may lead to the loss of sensitive data. Remote services: Your It supplier should be flexible enough to provide you with IT services even from remote locations. This can be beneficial, especially if you are outsourcing services and there is an abrupt IT problem. Some of the services these IT professionals can solve remotely include software repair, IT support services, and software updates. Mobile and remote networking: Your supplier should install mobile networking services in your system that enable your employees to work off-site using computers or mobile devices. Data analytics: Your supplier should install data analysis software or personally analyze the data to help your enterprise process information such that the data can produce usable information. Networking services: Networking encompasses activities that are geared towards ensuring your business has an efficient network. The supplier should build efficient network infrastructure, setting up devices like LAN, Reuters, Modems, optimization, security, and other factors essential in creating a seamless network. Unified communication: The supplier should provide you with software that unifies all communications in your enterprise in a single space, such as the UC software. Communication management: Efficient communication within the various departments is crucial to your business's smooth flow. As such, your IT supplier should provide you with universal communication software that incorporates messaging from chat, voice call, video call, and email. Such a system will ensure that there is an efficient flow of information between the personnel from different departments. It can also aid in creating efficient communication with outside parties such as suppliers and creditors. 7. Choose an IT supplier that has experience in working with a company like yours. There are different types of IT suppliers. Each of them has the expertise to provide solutions that are tailored to specific businesses. Working with a company that is averse to IT solutions to businesses similar to yours ensures that you get the best services from proven industry professionals. The recent increase in internet usage and technology demands that every business have an IT department to run smoothly. While there are several IT suppliers to choose from, knowing which supplier is best suited for your company is essential to ensuring that your business gets the best IT services. The first step to ensuring that you get the best IT services is choosing an IT provider that offers services that meet your needs. Some of the ways you can do this include ensuring that they charge affordable prices for their services, offer a wide range of services, are available whenever you need their services, and offer excellent IT services. Getting such a company will ensure that your business's operations run smoothly and that your productivity increases. Read Also: 6 Crucial Aspects to Consider Before Starting a Business Why OKRs Help Businesses Grow and Improve Top 10 Best Serial Entrepreneur Of All Time – 2021 Update

3 Forex Trading Tips and Tricks

1. Simply Trade with the Trend

2. Trade Contra Crowd

3. Use Stop Loss

To Conclude:

Top 5 Businesses Hiring Skip Bins For Their Use

Only the Best for Your Business: Check These Hiring Strategies

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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Related

7 Best Employment Law Tips For Businesses In Dubai

Why Military Status Verification Is Important For Businesses

How To Make Sure You Get The Best Service From Your IT Supplier

3 Forex Trading Tips and Tricks

1. Simply Trade with the Trend

2. Trade Contra Crowd

3. Use Stop Loss

To Conclude:

Share this Article

Top 5 Businesses Hiring Skip Bins For Their Use

Only the Best for Your Business: Check These Hiring Strategies

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

Related