FX Trading Software and Its Advantages

There are a variety of different types of FX trading software for use online; however, before purchasing your software, you should be sure that you have the right type of forex trading account. Without the right type of account, your software will be worthless. The best type of account will ease the strain of your trading activities.

As you have probably figured out, your software program and your trading account are not the same thing. Some software programs simply tell you signals that indicated when to buy, sell, or do nothing; other FX trading software can be connected to your account and do the transactions for you automatically based on trading algorithms. So, you have the choice of either paying attention to your software at your computer for hours on end, or to have the convenience of the computer making decisions for you based on certain predetermined criteria.

Before purchasing your FX trading software, you should know what type of account you want to have; in other words, what type of trading you wish to carry out. If you wish to perform fully automated transactions, your software must be compatible. Also, it must match the platform to which you wish to perform your trades. Some software programs are cross-compatible with several different markets, whereas others are meant specifically for only one market, such as forex trading. If you have a cross-compatible software, you can choose to trade options, stocks, or commodities, as well.

If you use FX trading software with your forex trading, it stands to reason that you have a leg up on the competition. It is not physically or mentally possible for a human being to keep up with the complex algorithms that are used to calculate the buy or sell signals, not to mention that there are so many currencies being traded that it simply is not possible to follow everything in the human mind. A software, on the other hand, can monitor multiple currencies at the same time.

When you first program your software, you will set up what you wish your account to perform. Based on this information, when the software recognizes the trend to which you are after, it can make the trades on your behalf. It is literally like making money in your sleep. Once the profit you wish to make has been reached, the software will close your trade for you. This is also known as a FX trading robot.

Regardless of if you are trading forex, stocks, or options, you stand to see many benefits by utilizing trading software platforms. This can be massive in terms of your successes. All successful traders know that it is vital to have the right tools in order to increase his or her chances of making a winning trade. This software can help you to begin to eliminate losses as you become familiar with the many analytical tools that are available to you. No software is perfect, but the right software coupled with your knowledge of the market will stand to help you greatly in your FX trading ventures.

Your Eating and Your Nutrition Can Help in So Many Ways!

How often do you think of your own nutritional needs and how it impacts your overall health? As an example, a lack of needed protein can mean that the brain itself doesn’t develop correctly, and women who don’t get enough of certain oils such as flax oil, omega-3 and omega-6 may have her metabolism impacted so that she actually gains weight as a result? There are many reasons to consider a person’s individual nutritional needs, and these needs are met – or are neglected – because of what we eat.

To stay healthy every day, it’s important to understand those daily nutritional needs. Of course the government has even gotten involved in the nutritional needs of individuals, as they’ve formed the USDA to study a person’s needs by way of food and nutrition and of course the FDA is supposed to make sure that food is safely prepared and handled, as well as determining items that are unsafe.

But set aside the government’s involvement; what about you? Do you really know what you need by way of nutrition and how to get what you need every day when it comes to the foods you eat? There is much talk today about food, but perhaps not enough about its real nutritional value. You may see on the supermarket shelves items that have been fortified with one element or another and some that claim to be a “good source” of different vitamins and minerals, but what does this all mean? What is nutrition and how does it apply to one’s everyday functions?

Nutrition means nurturing the body; it is supposed to function in a particular way and needs to be kept healthy for that function. This means that the body must get vitamins, minerals, amino acids, protein, and other elements to be healthy and to function as it should.

So how can you know if you are giving your body all these vital elements? First of course you must understand what the body needs! This means understanding about your body as well as what is needed for everyone in your family. And then you must take that understanding and use it when it’s time for food shopping and preparation, and for when dining out as well. Obviously what an adult needs is different than what a child needs, and so this application must work for all members of the family.

Sometimes our needs for things like vitamins, minerals, amino acids, and other elements are not being met through what we eat and so a supplement may be used to fill in those gaps.

Some may think that nutrition is too difficult to understand but it really isn’t; the knowledge you gain about it can be very useful since there is much to learn and because each person’s needs are different. Men and women have different nutritional needs, and adults and children need different things as well. Those needs also change as we go through life; what we need when we’re young is not what’s needed when we get older, and vice versa. And unfortunately we’re often just not educated enough about nutritional needs; the information that we do have often changes as well! Doctors often neglect addressing this subject with patients, other than those that are pregnant or who have certain medical conditions such as diabetes. But of course even a healthy person should consider their nutritional needs so that they can stay healthy – physically, mentally, and emotionally!

Risk Management

What is Risk Management?Without referring to the millions of websites and documents knocking about that talk about Risk Management, I want to try and give a simple view from the perspective of someone who has to manage risk day to day across major projects. This is real risk management, hands on.Of course, “Risk” and “Risk Management” will have variations of the same general meaning depending on the circumstances or context to which it is applied, but in principle, all risk management will follow more or less the same process.So, what is a Risk? A risk can be any influence on an expected or planned outcome that changes that outcome. In child-talk, it’s anything that could stop you getting what you want or expect.Here’s an important note: Risk hasn’t happened yet. If the outcome has already changed as a result of a risk “happening” then it’s no longer a Risk, it’s an Issue and has to be managed differently.So basically – A risk is something, anything, that could happen that will impact or change a desired or planned outcome. There are so many different ways to state this that, as simple as the concept is, it can easily get confusing. Let me give you an example;”If it rains today then the field trip has to be cancelled” – the risk is that it may rain. The impact is that the planned trip will have to be cancelled. Risk Management is recognizing the risk potential analyzing the probability and impact and either mitigating it or preparing alternative options that will allow the original plan to succeed.Risk Management 101On some of my projects in Asia I’ve had to seriously consider the impact of rain on project outcomes. I was on one job in Korea, Seoul, where we had a limited time to move a banks’ trading office from an old building that had been sold off, to a new building. The old building owner declared bankruptcy and sold off the office block. The new owner, the government, kicked everyone out on short notice. We had 3 months to find a new building, fit it out and move 200 staff including 120 trading positions.This really tested my teams Risk Management ability. This was a working business, the only window to move the 200 staff was over a weekend – after trading stopped on Friday evening and before it started on Monday Morning. Guess what, we had a Typhoon heading in, and for those that don’t know how things work in Asia – Typhoons are given warning signals as they approach by the local authorities.Each signal indicates a level of “threat” and or probability of a direct strike. As the signal rises in strength the threat (and danger to life and property) becomes imminent and public services shut down. People are told to go home or stay off the streets and, for several hours to several days, everything grinds to a halt.I had a stressful time managing risk by the hour. The decision to roll back the move to the old office or proceed and hope we got everything in before the typhoon hit was a 15 minute review, every 15 minutes for the first half of the weekend. That was Risk Management like I never had to manage before. Risk Management is critically important to project work.What is Risk Management?So, the meaning of “What is a Risk” should, I hope, be graphically clear now..? Risk Management is the process of managing risk as it relates to specific circumstances. The techniques, tools and processes used to manage risk are quite pragmatic and common-sense. But we all know that there’s no such thing as “Common Sense” so the best way to get a consistent framework around managing risk is to learn some best practices based on industry proven templates and methodologies.I’m not here to push one methodology or best practice against another. I have my personal preferences based on my industry and experience but I know and have seen many other project managers use varying techniques and tools in Risk Management, all valid and most of them effective at doing the job.In a follow up article I will talk more specifically about Project Risk Management. I’ll share some templates and examples and hopefully stir up some discussions too. There’s no one right way to do Risk Management but there is a consistent framework that should be followed and there are some very good industry standards in Risk Management space.