The forex market remains one of the biggest entities of its type anywhere in the world, with an estimated daily global trading volume in excess of $6.6 trillion.
What’s more, this value has increased markedly since 2016, from a starting point of just $5.1 trillion. This has been driven by a combination of technological advancement and continued economic volatility, which has driven part-time traders to the market in their droves.
While the market may be more accessible than ever before and open 24/7, however, this remains a volatile entity that’s incredibly difficult to master. So, here are some tips to potentially help you prosper as a part-time trader.
#1. Find the Right Pairs and Times to Trade
If there’s two things that will shape your journey as a forex trader, it’s your choice of currency pairings and the timing of individual orders.
In terms of timing, it’s best to trade during peak volume hours as a way of optimising liquidity and your ability to sell assets in real-time. Of course, optimal timing also depends on your choice of currency pairings, alongside the commitments imposed by your day job.
For example, if you work a traditional nine-to-five job, you may be looking to trade during the evening or early morning. In this case, you could target minor pairings like the GBP/JPY, trading between 7am and 8am GMT to capitalise on the crossover between the European and Tokyo trading sessions.
This hour (during which both the London and Tokyo stock exchanges are open) will see a marked increase in liquidity and volumes for this pairing, while you can execute orders before you start your day at work.
Other prominent crossovers include the European and North American session, with both entities open and trading between midday and 4pm GMT.
So, if you have the time and trade major assets like the USD/GBP or USD/EUR, you should target this window as a way of optimising potential profitability and ability to sell assets or implement short-term scalping strategies.
#2. Create an Automated Trading System
There’s no doubt that forex automated trading systems are all the rage in the digital age, and such algorithm-driven robots offer a unique opportunity to optimise both the volume and timing of your individual trades.
Forex trading systems work by automating trades, while deploying features such as the real-time tracking of currency prices and market order placement to afford you control over how your strategy is implemented.
A good example of this lies in the form of stop losses. This refers to a limit that’s imposed on an open position, requesting that this be automatically closed once it has incurred a predetermined level of loss.
This way, you can execute orders automatically while you’re at work, without sacrificing control and ensuring that the risk and scale of loss is minimised.
As a beginner or part-time trader, you may also want to utilise software that’s capable of making automated decisions on your behalf.
This is commonly referred to as ‘plug and play’ capability, which underpins disciplined and strategic decisions that are completely free of human error, emotion and preconceived notions.
While more experienced traders will evolve their knowledge base and often come to rely on more hands-on trading over time, there’s no doubt that automated forex systems offer immense value to novices in the forex marketplace.
#3. Leverage Disciplined and Deterministic Decision Making
As we’ve already touched on, discipline is crucial to successful trading decisions, particularly if you want to record a viable profit over an extended period of time.
Conversely, emotion and passion are the enemies of sustainable profitability, as such feelings can compel you to make rash and ill-considered decisions that ultimately cost you significant sums of cash.
Remember, trading is built on the nation of accepting profits when they materialise, rather than following unrealistic expectations that you can access wider spreads and vast returns continually.
This type of cold, hard outlook requires a keen sense of discipline and determinism, as you’ll need to recognise that there remain a number of underlying rules that govern market shifts and create the type of volatility that influences the scale of your gains and losses.
When it comes to individual decision making, part-time traders should always manage their expectations from the outset and start by trading a relatively small number (perhaps one or two) major currency pairings. Such assets minimise volatility while optimising liquidity, and enable you to establish a foothold in the market before you diversify into minor and exotic assets.
A similar mindset should also influence your use of leverage. More specifically, you should cap your leverage at a reasonable percentage of your starting capital or margin, in order to minimise losses and protect your assets as effectively as possible.
Of course, this type of disciplined and reasonable decision making is at odds with the romantic perception of financial market trading, which is why it’s crucial that you enter the market with the right mindset as a part-time operator!
Small Business Ideas For Women In 2022
Women comprise almost half of the population in the world. Women have great potential to contribute to the betterment of the economy. According to the Census Bureau’s Annual Business Survey (ABS), women-owned businesses made up only 19.9% of all companies hiring people in the United States in 2018. The number has been growing over the years.
If you are a woman and passionate about starting a new business, nothing is there to stop you. You need to seek the right opportunity and move forward with choosing the right service to form your business entity. Visit the link to know more about authentic business consultancy services and a complete guide for your business startup and maintenance. Bizreport provided information on quality services, best-reviewed and ranked business formation services, financial guidelines, and business development guides, especially for women-owned startups.
Following are the low-cost, high-pitch business ideas for women entrepreneurs.
Top Seven Business Ideas for Women
1. Center Of Fitness
Running a fitness center is one of the most popular businesses. However, it requires careful planning and research. The fitness industry is profitable, and it hardly faces a recession. Suppose you have up-to-date knowledge of the fitness industry. In that case, you need a small capital required to run this business in the USA.
2. Mobile Food Truck
The mobile food truck is an innovative business idea. Choosing a mobile food truck will allow you to deliver your food service to the customer where they are located. This service is different from the food service shops in specific locations in two different ways. First, you are providing a moving service that is not location-bound. Second, you don’t require any technical knowledge about the food business or minimum experience in the food services industry.
Freelancing can serve your part-time business. Women who are skilled in a specific subject or might be able to use a particular tool or software can start freelancing right away. Freelancing skills may start from content writing, administrative support, e.g. virtual assistant, teaching online, data entry, and developing a website.
All you need to start freelancing is a smartphone, a laptop, and a good internet connection.
4. Handicrafts Making
Handicrafts are handmade products made by artisans without using machines. According to Opportunity and Forecast 2021-2026, The US handicrafts market will show visible growth during the next five years. Women with a passion for handicraft will surely benefit from the rising market segment of the handicraft market in the US.
5. Event Management
Event Management is a profitable business. Women entrepreneurs can start with basic marketing and management skills. The event management business is in high demand in the US. You can take an edge in offering event management service by providing quality food and beverages, flower arrangement, decoration services, photography, and DJ.
6. Jewelry Making
Jewelry making is an art. Therefore, women who have a passion for designing jewelry; can also choose it as a profession. In addition, increasing fashion trends made the jewelry business increasingly profitable. Women are usually more prone to fashion and style. Therefore, they have a good insight into using fashion and accessories. So, knowledge about current fashion trends and passion for working for jewelry turns into a profitable business.
7. Wedding Consultancy
Wedding consultancy is one of the best-suited businesses for women entrepreneurs. However, the owner needs to be organized and focused on details to successfully run a wedding consultancy business.
The wedding consultancy business is proliferating, as people are more prone to choose the right partner for their life as marriage is a long-term relationship and should also be long-lasting.
Whatever business you choose to start, businesswomen need to get their business entity registered. The most suitable and recommended business structure is LLC. Women-owned companies should be well organized with the state. So that they may enjoy the tax shield and avoid any uncertainty or penalties for not registering the business with the respective state.
7 Ways to Cut Business Expenses
The world is now more uncertain than ever, and businesses are struggling to stay afloat. In these tough times, it’s crucial to cut costs wherever possible to stay in the black. Are you looking for ways to reduce your business expenses? Below, we’ve listed seven effective ways to do just that.
1. Rent A Smaller Office Space
If your business is based in an office, now is the time to re-evaluate your space needs. Do you really need a large office with dozens of cubicles? Or would a smaller, more intimate space be more conducive to productivity? Renting a smaller office can save you hundreds or more dollars each month.
Small businesses especially can save money by renting a smaller office space. A smaller space will result in lower rent payments, and it can also lead to reduced costs for utilities and other expenses. In addition, a smaller office space can be more efficiently utilized, resulting in better use of resources.
2. Streamline Your Marketing Efforts
Do you disburse a lot of funds for marketing and advertising? If so, now is the time to examine your marketing budget closely. Evaluate your marketing strategies and determine which ones are most effective. Then, focus your efforts on those strategies while cutting back on or eliminating the others.
One thing you can consider is utilizing digital marketing channels more effectively. With digital marketing, you can often get more bang for your buck, reaching a larger audience with less money. Additionally, you can track results more effectively to ensure that your advertising measures are paying off.
3. Outsource Some Of Your Work
If your business is like most, you could probably outsource some tasks to save money. For example, you might outsource accounting, human resources, or customer service. These are all essential functions of a business, but they don’t necessarily require to be done in-house.
Outsourcing can save you cash in several ways. First, it can free up your time so that you can focus on more important tasks. Second, it can reduce your overhead costs. And third, it can give you access to experts in their respective fields who can help your business run more smoothly and efficiently.
4. Get Rid Of Unnecessary Expenses
Take a close look at your business expenses and determine which ones are absolutely essential. Then, get rid of any unnecessary expenses that are draining your resources. This could include expensive office furniture, monthly subscriptions, or unused software licenses.
Remember, every dollar you save by eliminating unnecessary expenses is one more dollar you can put towards growing your business. So, this is a nice place to begin if you’re looking to save money.
Also, consider using expense management software to help you track and supervise your business expenditures. This can help you identify areas where you’re spending too much money so that you can make the necessary changes.
5. Find Cheaper Suppliers
If your business relies on supplies, it’s important to find the best deals on those supplies. This can be a bit tough, but it’s absolutely worth the grind. There are several ways to find cheaper suppliers, including online directories, trade shows, and supplier websites.
In addition, don’t be afraid to bargain with your suppliers. If you can secure a lower price, you’ll be able to save money on your supplies, which can improve your bottom line.
6. Use Technology To Your Advantage
Technology can be a great way to save money in your business. Many affordable or even free tools can help you automate tasks, manage your finances, and keep track of your customers. Using these tools can preserve time and money, allowing you to concentrate on more critical parts of your enterprise.
Additionally, consider using cloud-based services instead of traditional software applications. Cloud-based services are often more affordable and easier to utilise, making them a superb option for small businesses.
7. Narrow Your Focus
One way to save capital in your business is to concentrate on a niche market. You can eliminate unnecessary expenses and better utilize your resources by narrowing your focus. Additionally, you’ll be able to target your marketing measures more virtually, guiding to risen sales and profits.
If you’re unsure how to narrow your focus, assess your business’s potencies and flaws. Then, identify your target market and focus your efforts on that group of consumers. By accomplishing this, you’ll be able to save money and grow your business more effectively.
Saving money on your business is essential to its long-term success. Following the tips above can cut your business expenditures and enhance your bottom line. So, don’t hesitate to implement these tips today to help your business save money and thrive. Best of luck!
Artificial Intelligence in Business Analytics: Challenges for Investors and Developers
The current state of the market of AI for Business Analytics is showing upward trends and is supported by the leaders of most companies, who are ready to increase their investments in this area. A positive attitude towards the use of AI is associated with the benefits expected: optimization of business processes, increased efficiency, and capitalization of production, logistics, and distribution schemes, as well as consumer services. Is AI the prerogative of only large companies operating in international markets? What are the areas where AI technology is helping companies build effective business schemes? We will tell you in this article.
How global players are using AI tools
There are many tools for introducing AI into Business Analytics on the market. Examples are Data Robot and Alteryx, which provide Business Analysts with a friendly interface to improve employee productivity. These solutions allow specialists to save and catalog data in a form that is universal and convenient for processing by AI algorithms so that they make the necessary decisions in the future.
Among the leading players in the AI market for Business Analytics are Amazon, IBM, Nvidia, and Microsoft; as for popular products, we can mention such systems as Dataiku, Data Splunk, H20.ai, Modzy, SignalFx, and others. Microsoft, for example, offers a whole line of applications for its cloud platform Azure, which are defined as “mission-critical” by the vendor. With the help of AI, they perform such operations in data analytics as data management and verification, search and smart sorting, work with cloud storage, etc.
How other companies are putting AI into practice
When big players in the online retail market like Amazon, AliExpress, and eBay order data processing by AI models, it sounds cut and dried. Can companies that don’t belong to the high-tech industry or don’t view data as a key priority apply AI for data analytics and strategic planning? To answer this question, let’s look through a few examples.
The use of Machine Learning algorithms helps restaurant businesses regularly analyze electronic orders, predict the dynamics of demand, and improve the speed of service. For example, Domino’s Pizza has optimized a number of its processes by using the NVIDIA DGX-1 server, an integrated computer appliance system for Deep Learning, and a Machine Learning operational platform (MLOP) – Datatron. The latter helps to track and adjust the performance of the used models in real-time.
The introduction of these technologies has enabled the chain to make its branch and online operations better, improve client service, and distribute orders more efficiently. For example, a self-learning delivery forecasting model, trained on five million orders, can predict when an order will be completed. For this purpose, the model takes into account the parameters of the order and the service department – for example, the number of employees, managers, and clients who have made an order. Powerful servers have reduced model training time to one hour, increased order prediction accuracy from 75% to 95%, and made it possible to streamline data exchange between different departments.
Zachary Fragoso, Data Science and AI Manager at Domino’s, gave the following recommendation on the application of AI technologies for a business:
“Think about how your data scientists will work together and collaborate. In our case, the DGX-1 and our data scientists are interacting in a common workspace. It was something that our team didn’t really consider when we first acquired this product and has been a real value for us.”
Satellite map creation
An example of an outstanding application of AI tools for data analytics can be seen in the Blackshark.ai platform, which also uses NVIDIA DRIVE Sim technology to create satellite 3D maps of the planet.
Satellite imagery information is used by government agencies – for example, to assess energy consumption or tax revenues, including determining the size of buildings by the visible elements of ventilation systems. Also, analysis of data from seismic areas and places of frequent floods and tsunamis helps government agencies, private companies, and insurance organizations to better calculate risk structures and damage amounts.
Semantic reconstruction of analysis results helps businesses and individuals make critical decisions. Previously, images were usually processed manually to provide visual information with explanations, and now AI algorithms are doing this at high speed, providing the necessary semantic decoding.
The use of 3D models helps to make technological forecasts for cellular companies based on the analysis of the terrain and landscape elements. They model geospatial functions and analyze the range of coverage and engineering costs for optimal ROI when placing 3G, 4G, and 5G towers.
When healthcare provider organizations work with large amounts of medical data, analytics of this data is in high demand. As an example of how AI technologies are already helping to fight the coronavirus pandemic, we will cite the development of GlobalSNS under the AID-Tes brand. The project is designed for Israeli clinics that use PCR instruments for Covid tests.
Files from these instruments are imported into the system, analyzed by a shape detector, a bias detector, and a slope checker, and are normalized using the Savitzky-Golay filter. Then, the data is passed to the Ct controller and the threshold value calculator and, if possible, the system calculates its value by passing it to the result interpreter. The built-in validator checks the accuracy of the received data in comparison with the control samples, after which the interpreter gives its evaluation of the test result: positive, weak positive, negative, invalid, or requires a re-evaluation.
Mark Malko, a Business Analyst at Andersen and a solution team member, notes:
“The product is already used in clinics in Israel. It helps to interpret test results more accurately and rapidly (previously, it was done by the laboratory staff), which now requires fewer people. Since the work is carried out quickly, the clinic promptly informs patients about the test results, which reduces the likelihood of infecting other people.”
The influence of AI systems on the banking services’ performance indicators is convincingly demonstrated by McKinsey’s analytics.
AI tools for Business Analysis services and predictive modeling are widely used in a variety of areas, being in demand among both corporations and international enterprises and small companies. At the same time, although some developments have moved from the pilot stage of implementation to commercial use, a significant part of services and applications are at the promising startup stage. These new projects require investment from businesses that are seeking to optimize the performance of their processes.
What is Book Printing?
To make a book, there are two main methods: offset printing and print-on-demand book printing. Offset printing entails printing books in large batches in one go. Self-publishers typically choose print-on-demand. Both methods can be profitable for them. In addition, each method has its own advantages and disadvantages. Read on to discover more about book printing. Listed below are some pros and cons of offset and print-on-demand book printing.
The In-feed station for book printing is the final step of the process, and the process begins by loading a spool of paper onto a spool base. The size, type, weight, and width of the paper vary depending on the type of book you are printing. The spool base serves as a drive for the paper, which passes through a chain of rollers. The paper is guided through the chain without creasing or tearing, and the feed station is designed to keep the article straight.
Smart-binders are automated systems that automatically create batches of the pre-determined number of booklets. The Smart-binders can also be configured with an optional booklet stacker BSS-10 that can produce piles up to 330mm tall. The Smart-binder offers a number of benefits, including operator-free operation. Its software tracks each sheet through to a complete booklet, even if it’s not exactly the same size as the others in the run.
Reel stands for book printing are necessary tools for the book publishing process. The printing company uses this stand for all of their printing processes. This stands allows them to print on various types of paper. They are also used for catalogs and free-standing inserts. A reel is a convenient and affordable way to store the book. The reel is an essential part of the printing process, as it makes it easy for the customer to pick up the book and take it anywhere he or she wants.
With the advent of high-speed digital presses, book printing has undergone a major transformation. Traditional, continuous-feed toner-based presses have become obsolete, and the use of water-based inks introduced new challenges regarding drying and absorption. While book printing has traditionally been a slow process, new inkjet technologies have dramatically reduced the time required for production. Read on to learn more about the latest developments in book printing.
New continuous-inkjet web presses are available from a number of companies. HP, Kodak, and Domino offer monochrome configurations.. In addition to ink-jet press technology, these printers also have the same inline finishing equipment as their predecessors.
Endpapers are the strips of paper inserted between the text block and the board. They have many purposes, from serving as the first page of a book to serving as decorative elements. Endpapers have evolved significantly over the centuries and may serve many different purposes. Traditionally, they were blank, but today, they often are decorated, and serve as the binding’s last line of support. In addition to providing support for the joint, they can also be a decorative element in and of themselves.
When printing a hardcover book, endpapers are an important aspect of the process. Not only do they help preserve the valuable text inside, but they also take the burden off the first and last pages of a book. Endpapers are typically printed on thick, uncoated paper. Some endpapers may even be embellished with blind embossing or foil stamping to increase their visual appeal.
4 Situations Where You May Need The Help Of An Employment Lawyer
Most of us have heard of criminal lawyers, tax lawyers, corporate lawyers, and civil lawyers. But not many people are aware of employment lawyers. They are legal professionals who specialize in counseling clients with job-related issues. They provide a variety of services to employers as well as employees. There are reasons why one should hire employment lawyers, but here are a few to make you understand their work:
- They give professional advice regarding legal rights and obligations.
- The employment lawyer helps the employee file the complaint in case of harassment with the agency and explains the factors related to it.
- They fight for their clients when they are treated unfairly.
- They also defend employers against discrimination, wrongful termination, etc.
- They provide immediate help if the employee is exposed to an insecure work environment.
- Employment lawyers help clients understand their pay structure and benefits packages and determine whether their legal rights were violated.
Here are some issues that employment lawyers in Los Angeles can help you with:
- Sexual Harassment Issues
Every employee or employer is entitled to a healthy, supportive, and secure work environment. And sexually harassing anyone in your office is considered a violation of the employment law. Managers, employers, and other higher authorities are restricted from behaving in any unrespectful ways towards their workers. When asked for sexual favors or sexual advances, this is one of the situations when you might need the help of an employment attorney. Informed about the mistreatment, employment lawyers in Los Angeles have a legal obligation to take action and manage the situation.
- Retaliation in the workplace
Each employee is protected by laws that restrict employers from harassing employees who participate in any protest process. This might hurt the employee’s reputation or even the worker’s career or skill advancement. They also consider how an employee is regarded by the organization’s leadership. However, these processes aren’t limited to not following discriminatory orders, reporting harassment, giving evidence in any government case against the employer, saving another worker from sexual favors, etc.
- Signing an employment agreement
An employment agreement or employment contract is a legal document that oversees the relationship between an employee and an employer. It outlines your hours of work, the terms of your employment, compensation, and several employment policies. And if you’re asked to sign such contracts, it is important to have an employment attorney review your agreement to recognize areas of concern and negotiate possible changes to make the agreement more advantageous to you. Typically, there are dozens of items in an employment agreement that may cause problems for my employees.
- Wage and hour disagreement
Employers should pay their employees an appropriate wage according to their work, and they are not entitled to withhold the earnings of their employees. The dispute over wages and hours doesn’t only claim non-payment and underpayment of wages but also addresses inadequate break times, overtime issues, offenses of break time protections for nursing mothers, fair wages, tip compensation offenses, and the privilege of receiving salaries on time.
However, there are many more situations that might need the attention of an employment lawyer. We advise you to work honestly and never fail to raise concerns when needed.
Whether you break the law on purpose or unintentionally, an employment lawyer can guide you through the process of recouping your losses. And no matter how protected you are with your rights in a working environment, there might come a time when you are stuck in a dispute which might engage higher management. In conditions like these, you might need legal protection and you should know that talking to an employment lawyer is perhaps the best idea.
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