A Handbook For Future Managers And Engineers
By
Shekhar Gupta
and
Surbhi Maheshwari.
How to Take Off Your Professional Career from an Average
to Exceptional with the Hidden PSR in You. A Book By working CEO and Manager with Day to day and live
Examples How to Fight with Global Recession.
There was a farmer who sold a pound of butter to the baker. One day the baker decided to weigh the butter to see if he was getting a pound and he found that he was not. This angered him and he took the farmer to court. The judge asked the farmer if he was using any measure. The farmer replied, amour Honor, I am primitive. I don't have a proper measure, but I do have a scale." The judge asked, "Then how do you weigh the butter?" The farmer replied "Your Honor, long before the baker started buying butter from me, I have been buying a pound loaf of bread from him. Every day when the baker brings the bread, I put it on the scale and give him the same weight in butter. If anyone is to be blamed, it is the baker."
What is the moral of the story? We get back in life what we give to others. Whenever you take an action, ask yourself this question: Am I giving fair value for the wages or money I hope to make? Honesty and dishonesty become a habit. Some people practice dishonesty and can lie with a straight face. Others lie so much that they don't even know what the truth is anymore. But who are they deceiving? Themselves
I want to share with you something that I came up with that I call "The six keys to success".
These keys will not unlock any opportunities of success without first having a strong and unfailing faith in God or that Being which is greater than you.
Please don't go through life as your "own little god."
I encourage you to memorize these six keys by using the word ADVICE to do so.
Attitude
Bloom where you are planted. You have a choice to get back up after temporary set backs. Attitude is a small thing that makes a big difference!
Direction
If you don't know where you are going, any road will get you there. Write your short term goals down on paper. I have discovered and continue to discover that putting your dreams and goals down on paper lock in or focus your belief that they can be achieved--even if you have to take a course correction in achieving your goals. Success comes in cans, failure comes in can'ts.
Values
Explore what is important to you. Maybe it is family, friends, your spirituality or working hard at any given task. I can assure you that your priorities will change as you grow older. Very important that you value yourself and treat yourself like the valuable gift from God that you are.
Interests
Birds of a feather flock together. This is to say that if you are hanging around winners or others with a "can do" mind-set, you'll likely adapt to this same kind of thinking. Remember--"SUCCESS LEAVES CLUES!
Commitment
Feelings may change, commitments do not. "Success is getting up one more time than you fall." I have often wanted to give up, and then I must think to myself about what the consequences of giving up will be. Generally, this is more than enough of a motivation to make us stick to the task at hand even if we don't feel like it. When the task is achieved, Whow!--IT FEELS GREAT!
Encouragement
Be an encourager and comforter to friends that are feeling discouraged. I promise that you will not regret this as you will be encouraged by one, if not many, when you are feeling down. Encouragement and love are contagious qualities that can change the minds of the most stubborn and "hard-to-get-along-with" people you know. I have seen it happen over and over again.
Currency futures are futures markets where the underlying commodity is a currency exchange rate, such as the Euro to US Dollar exchange rate, or the British Pound to US Dollar exchange rate. Currency futures are essentially the same as all other futures markets (index and commodity futures markets), and are traded in exactly the same way.
Futures based upon currencies are similar to the actual currency markets (often known as Forex), but there are some significant differences. For example, currency futures are traded via exchanges, such as the CME (Chicago Mercantile Exchange), but the currency markets are traded via currency brokers, and are therefore not as controlled as the currency futures. Some day traders prefer the currency markets, and some day traders prefer the currency futures. I recommend the currency futures as they do not suffer from some of the problems that currency markets suffer from, such as currency brokers trading against their clients, and non centralized pricing.
Settlement and Delivery
As currency futures are based upon the exchange rates of two currencies, they are settled in cash, in the underlying currency. For example, the EUR futures market is based upon the Euro to US Dollar exchange rate, and has the Euro as its underlying currency. When a EUR futures contract expires, the holder receives delivery of $125,000 worth of Euros in cash. Note that this only happens when the contract expires, and as day traders do not usually hold futures contracts until they expire, they should not be involved in the settlement, and will not receive delivery of the underlying currency.
Popular Currency Futures
Many of the most popular futures markets that are based upon currencies are offered by the CME (Chicago Mercantile Exchange), including the following :
EUR - The Euro to US Dollar currency future
GBP - The British Pound to US Dollar currency future
CHF - The Swiss Franc to US Dollar currency future
AUD - The Australian Dollar to US Dollar currency future
CAD - The Canadian Dollar to US Dollar currency future
RP - The Euro to British Pound currency future
RF - The Euro to Swiss Franc currency future
Market Profiles
Complete descriptions of many of the above currency futures, including the exchange rate that they are based upon, the futures contract specifications, and the market holidays, are available in their Market Profiles.
In order to truly and consistently profit in the forex market it is crucial that you implement a forex trading strategy which will allow you to see the market for what it really is. The forex market is a meeting place where buyers and sellers come together to determine the exchange rate between two currencies. The determination process of this exchange rate is reflected via the movement of price on a forex price chart. The main goal of profitable forex trading strategies should be to provide you with a way to take advantage of and profit from this price movement.
Too often forex traders run into forex trading strategies that simply do not give them the tools they need to profit consistently off daily price movement. At first glance, many of these strategies seem like they might be effective, but as the trader goes further down the “rabbit-hole” of trying to figure out many of these strategies, they end up realizing they are just over-complicated and ineffective ploys for some professional internet marketer to make a quick buck. So what do we need to see in a forex trading strategy to determine whether or not it will be profitable?
The only real and honest answer to such a question is that the most accurate trading strategy in the world is only as good as the trader behind it. However, that being said, there is certainly a difference in the effectiveness and accuracy of various forex trading strategies. One of the common unifying factors behind all profitable forex trading strategies is that they are simple in design and implementation. If you find yourself getting a headache because you are unsure how to implement the particular strategy you are trying to learn, you have probably stumbled onto one of the many confusing and overly complicated forex trading strategies out there.
Successful forex traders understand that method or strategy is only a small part of what determines long-term consistent forex trading success. The larger part of becoming a successful forex trader consists of being disciplined in your risk on every trade and in not over trading. However, both of these factors are dependent upon having a profitable forex trading strategy that you are fully confident in and that you know will give you an edge in the market. Essentially, having a profitable forex trading strategy is a prerequisite to developing market discipline and confidence. If you are not using a method that you know can be profitable over-time, you will not be able to develop the confidence and discipline to follow it.
Profitable forex trading strategies can seem elusive, especially after investing time and / or money in any of the plethora of ineffective trading strategies on the internet. This is why it is best to do research on the particular forex trading strategy you are thinking about using before you invest your valuable time and / or money into learning it. Don’t settle for one of the many forex trading strategies out there that simply sounds good or that has a fancy looking website that makes big claims of instant trading success. Instead, check out all the options out there and find a simple forex trading strategy that has been used effectively by other traders for many years.
About a Hundred Years ago, a man looked at the morning newspaper and to his surprise and horror, read his name in the obituary column. The news papers had reported the death of the wrong person by mistake. His first response was shock. Am I here or there? When he regained his composure, his second thought was to find out what people had said about him. The obituary read, "Dynamite King Dies." And also "He was the merchant of death." This man was the inventor of dynamite and when he read the words "merchant of death," he asked himself a question, "Is this how I am going to be remembered?" He got in touch with his feelings and decided that this was not the way he wanted to be remembered. From that day on, he started working toward peace. His name was Alfred Nobel and he is remembered today by the great Nobel Prize.
Just as Alfred Nobel got in touch with his feelings and redefined his values, we should step back and do the same.
Retail currency trading is typically done through brokers and market makers. Traders can place trades through their brokers who will in turn place a corresponding trade on the interbank market.
Why do currency values change?
Currency values can change for many reasons. Sometimes they react to political and economic news, sometimes they are driven by speculators, and sometimes they are driven by international business flows. If companies in the United States are importing large quantities of products made in Europe, they will need to exchange their US Dollars for Euros to pay for the products. When this is done in very large quantity over a short period of time, it raises the demand for Euros and the value of the Euro versus the US Dollar increases. This happens because dollars are being sold on the open market, while Euros are being bought.
Is currency trading risky?
Currency trading can be very risky. Currencies tend to be very volatile compared to other markets. The real key to success with currency trading is to use conservative risk management. There are many components to effective currency risk management, but the bottom line is to use caution and have a trading plan.
Who trades currencies?
Currencies are traded by individual retail investors, financial institutions, and corporations doing business. Retail investors and banks are trade to make profits and corporations usually trade in the normal course of the international business process.
