In a recent published report, Kenneth Research has updated the market report for Standoff IED, Person-Borne And Vehicle-Borne Explosives Weapon Detection Technologies Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Standoff IED, Person-Borne And Vehicle-Borne Explosives Weapon Detection Technologies Market products.
In recent encounters in Iraq and Afghanistan, wherever the U.S. (and their allies) had overwhelming combat power, their adversaries (the Taliban and Iraqi insurgents) resorted to a simple combat tactic: the use of suicide bombers, vehicle-borne explosives and roadside IEDs. Lessons learned from these two wars drove and continue to drive the Pentagon to reverse this asymmetric warfare, to develop, procure and proliferate new techno-tactical ways and means using standoff explosives detection technologies throughout the U.S. military.
The purpose of standoff PBIED, VBIED and weapon detection technologies is to determine at a safe distance if a human subject or a vehicle is carrying explosives or weapons. Concealed explosives detection is perceived as one of the greatest challenges facing the counter-terror and military communities. The threat posed by suicide bombers is the key to the emergence of transformational counter-terror technologies and tactics. The maturity and deployment of advanced standoff detection technologies, capable of detecting suicide and other terrorists at a safe distance, will change the landscape of homeland security and asymmetric warfare.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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The Standoff IED, Person-Borne & Vehicle-Borne Explosives & Weapon Detection: Technologies & North America Market – 2015-2020 report has been explicitly customized decision- makers to identify business opportunities, developing technologies, market trends and risks, as well as to benchmark business plans.
The report examines each dollar spent in the market via 2 orthogonal money trails:
1. By 6 Technology Markets:
Walk-By Explosives & Weapon Sensing Systems
Pass-through Threat Detection Corridors
Standoff PBIED Detection
Standoff VBIED Detection
Standoff IED Detection
2. By 4 Revenue Sources:
Government Funded R&D
Government Funded Testing & Evaluation
New Systems Sales
This Standoff IED, Person-Borne & Vehicle-Borne Explosives & Weapon Detection: Technologies & North America Market – 2015-2020 report is a resource for executives with interests in the industry. It has been explicitly customized for decision-makers to enable them to identify business opportunities, developing technologies, market trends and risks, as well as to benchmark business plans.
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Questions answered in this 215-page report include:
What will the U.S. & Canada market size be in 2015-2020?
What are the main Standoff IED, Person-Borne & Vehicle-Borne Explosives & Weapon Detection technology trends?
Where and what are the U.S. & Canada market opportunities?
What are the U.S. & Canada market drivers and inhibitors?
Who are the key vendors?
What are the business and technological challenges?
The Standoff IED, Person-Borne & Vehicle-Borne Explosives & Weapon Detection: Technologies & North America Market – 2015-2020 report presents in 215 pages, 20 tables and 97 figures, analysis of current and pipeline technologies and 18 leading vendors. This report, granulated into 10 submarkets, provides for each submarket 2013-2014 data and analyses, and projects the 2015-2020 market and technologies from several perspectives, including:
Business opportunities and challenges
Market analysis (e.g., market dynamics, market drivers and inhibitors)
The report presents:
Current and pipeline technologies:
Standoff Walk-by & Pass-through Threat Detection Corridors:
Walk-through Corridors – Active Electromagnetic Weapons Detection, Passive Electro Magnetic Signature Corridor, Standoff Passive MMWave Doorways, Focal Plane Array Passive MMWave, Walk-through Corridors – Fourier Transform Infrared (FTIR) Spectroscopy Systems, Covert Walk-through Biometric Identification Corridors, Fused Standoff PBIED Detection &Video-based Biometrics, Walk-by Active Centimeter Range (Ku band) Microwave System
Open Space Standoff Explosives & Weapon Detection:
Bi-Modal Standoff Open Space IED, PBIED, VBIED – Explosives & Weapon Detection Systems
Standoff Vehicle-Borne Explosives Detection:
Standoff Raman Spectroscopy Based VBIED Detection
UGV Standoff IED, Person-Borne & Vehicle-Borne Explosives & Weapon Detection:
UGV detection Expectation Management systems, UGV Management software, UGV Mobility technology, Pipeline UGV IED, PBIED & VBIED Detection technologies, Cobham Antenna Technology, IAI CIMS Systems, Standoff MMWave IED Detection robots.
Multi-Modal Fused Standoff IED, Person-Borne & Vehicle-Borne Explosives & Weapon Detection:
The CounterBomber Technology Standoff Active MMWave, Standoff Passive MMWave Imaging, Standoff MMWave PBIED Gait signatures Detection technologies, Infra-red Standoff Detection, Standoff Terahertz, Laser-Based Explosives Detection technologies, Standoff Raman Spectroscopy, Standoff Non-linear Wave Mixing Detection Technology, Standoff Light Detection and Ranging (LIDAR) Explosives Detection, Triple Modality Standoff Detection Technology, Differential Phase-Contrast X-ray Imaging, The University of Puerto Rico Advanced standoff Detection Techniques, Rydberg Spectroscopy/Microwave Scattering Based Detection
Key Vendors: Alakai Defense Systems, APSTEC Systems, BAE Systems, Boeing, ChemImage Sensor Systems (CISS), Cobham plc, Flir, Fluidmesh Networks, Genia Photonics, GE Security, Honeywell, IAI, Implant Sciences Corporation, Raytheon, SAGO Systems, TeraView, ThruVision Systems, Rafael.
Request For Full Report: https://www.kennethresearch.com/sample-request-10073315
For readers who wish to acquire more information, the report includes 8 in-depth appendices:
R&D Programs and Projects
The Improvised Explosive Device Defeat Organization (JIEDDO)
Vehicle Borne Improvised Explosive Devices (VBIED)
Guided Aerial IEDs
2014 IED, PBIED & VBIED Attacks
The U.S. PBIED, VBIED & IED Detection Eco-System
Short Term Global Geopolitical Outlook
About Kenneth Research:
Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.
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How Merchants Can Protect Against Chargebacks
Chargebacks are an unfortunate part of doing business today. They have emerged as one of the primary causes of financial loss for merchants. Merchants are always at risk of chargebacks, but with a little education and preparation, you can keep them in check. Chargeback prevention is important not only because it will reduce your losses but it will also improve your customer relationships. This guide covers what causes chargebacks, how to protect against chargebacks, and the steps to take if they happen.
Why Is Chargeback Prevention Important?
There are multiple reasons why merchants should be concerned about chargebacks. First and foremost, chargebacks are the main cause of buyer abandonment, long-term negative feedback, and loss of customer trust.
Chargeback losses associated with fraud can total up to 10% of your customer base, while friendly fraud can cost up to 15% of a merchant’s revenue. It’s important to note that chargebacks also affect your brand reputation. Even if you’re not losing sales directly due to a chargeback, lost revenue due to a poor reputation still damages your business long-term. That is why it’s very important to prevent chargebacks to grow your business.
Causes Of Chargebacks
There are three main reasons why chargebacks happen, and they can be categorized as either merchant error, criminal fraud, or friendly fraud. The most common chargeback reason is friendly fraud. This occurs when the customer buys goods or services online, uses it, and then claims a chargeback from the merchant, telling him they don’t receive purchases. It looks like a customer wants to use a product or a service without paying for it.
Chargeback Prevention Strategies
The best way to prevent chargebacks is to provide excellent customer service. While blocking the fraudsters and the friendly fraudsters are important, it’s just as, if not more important, to make sure you don’t lose the customers that actually want to pay you.
Improve Customer Service
One of the most effective ways to prevent chargebacks is through excellent customer service. This means communicating with your customers on a regular basis and resolving their issues quickly. You can also try offering better communication channels for support requests, such as phone support or live chat. It is also important to be proactive in order to prevent chargebacks from happening in the first place by improving customer service and dealing with customers’ issues before they resort to chargebacks.
Use Available Chargeback Prevention Tools
Use a flexible merchant chargeback protection platform to grow your business with ease, prevent chargebacks, or resolve them like a pro. Doing so will help you avoid the different types of chargeback fraud, from friendly to criminal.
Better Order Communication
Notifying buyers about the status of their orders is essential in preventing chargebacks. Sending shipping confirmation emails and tracking numbers is one good way to do this, but it can also be done through thank you emails or automated delivery confirmations. You should also make sure that your order communication is clear and concise so customers can easily understand what’s going on with their order during every step of the transaction from beginning to end.
Eliminate Merchant Errors
Eliminating all errors from your system is another way to prevent chargebacks. There are two types of errors: order errors and customer service errors. Order errors include common mistakes such as missing or duplicated items, incorrect shipping information, and incorrect addresses, while customer service errors include the customer not receiving their items or being dissatisfied with the service provided. All these should be avoided at all costs if you want to protect your business from chargebacks.
It’s important to make sure all the material related to your business is authentic so shoppers can trust you. This means having a smooth checkout, accurate prices, and clear product information. All this will build up your brand’s credibility and increase the likelihood of returning customers.
Another way to prevent chargebacks is by managing your subscriptions effectively. If a customer has signed up for a subscription but made a mistake, they might dispute the transaction if they haven’t received their order on time or if they didn’t realize that it was an automatic subscription.
The Bottom Line
There are several ways to prevent chargebacks, but the most important thing is to keep your customers happy. As long as you provide excellent customer service and get orders done quickly, you will always win back customers who may have been refunded by a fraudster. Even if you never resolve a chargeback, you’ll still be able to prevent future ones from happening.
Top Trends in Mobile App Development in 2022
Mobile app development is an ever-changing industry constantly evolving and adapting to new trends. With the mobile market experiencing rapid growth, every mobile app development company has been scrambling to keep up with their competition and provide innovative tools for people to use, often in the form of apps.
Every year, we see a shift in the field of Mobile App Development. Apps are always developing to meet people’s needs and changes in technology, and as this happens, software for mobile devices has also evolved! This article will go over some of the top mobile app development trends expected to dominate in 2022!
Regarding mobile app development, AR (augmented reality) is one of the biggest things to look forward to. According to Business Insider, by 2021, 60% of global sales will come from AR-enabled mobile apps. That is quite a big change from the 0.01% of the total sales generated by AR that was reported to be in 2017.
Augmented reality is already very popular. It allows you to turn your smartphone into a virtual reality device and play games using the camera. However, augmented reality goes beyond gaming applications. AR has many other uses, such as visualizing a patient’s MRI scan in 3D or giving information on the weather and traffic conditions.
As AR grows, companies will need to develop new platforms that can accommodate these possibilities. The rise of AR and other technologies will require developers to create better user interfaces and understand human psychology.
Artificial Intelligence is expected to grow at a tremendous pace. According to reports, artificial intelligence applications are expected to generate $16.6 billion in revenue in 2020. There will be many new applications for augmented reality and virtual reality. The growth of this technology is expected to continue until 2030.
The growth of artificial intelligence will require developers to create better user interfaces and understand human psychology. With the continued growth of artificial intelligence, more and more people will have access to these advanced apps. As people become more and more reliant on AI, they will need to be able to understand it better.
AI in the future will be able to solve a range of problems that cannot be solved by humans today. It can create new products, develop new services, and improve existing services. It can do all of this faster and more efficiently than any human. In the future, AI will likely have more and more tasks that will require it to do in mobile app development.
There is a trend toward mobile app development that involves blockchain technology. This will lead to a huge increase in demand for blockchain-based mobile apps. The growth of the Internet of Things (IoT) has been a major factor behind the growth of blockchain in mobile apps. People have started to look at ways to make their daily lives easier by using mobile devices. Blockchain in mobile apps will be used to manage the data from sensors and devices.
The growth of IoT has created a big demand for sensors and other devices that people use regularly. All of this data needs to be stored and protected. Blockchain can provide a secure environment for storing and sharing data. It is the ideal solution for IoT devices.
Blockchain is a technology that will be useful in many ways. One of these ways is in the realm of mobile apps. According to a recent study, there will be a huge increase in blockchain-based mobile apps in 2022. Smartphone and tablet owners are looking for ways to make their lives easier. They are looking for ways to make their daily routines more productive. Blockchain is a technology used to handle a lot of this data. Sensors and other devices are being made to monitor the data they collect and send it back to a database.
Rise of 5G in mobile app development
This 5G technology was not widely used until recently. With the rise of mobile applications, developers are taking advantage of this technology. For example, they are using it to monitor the health of patients. They are using it to monitor the progress of the construction industry. The developers are even using it to create a decentralized marketplace. It will help them to avoid third parties and cut down on costs.
There will be an increase in smart contracts in the near future. This means that you will be able to execute transactions online. This will give you access to all your financial and personal data. You can easily use your phone to pay for all kinds of transactions. This is just one of the ways that 5G will be used in the future.
Food & Grocery Delivery Apps
Food & Grocery Delivery Apps are being developed to meet the needs of busy consumers. They would like to be able to shop for groceries and send them home safely. The online grocery stores will use IoT devices to collect data about consumer behavior. They will be able to improve the products and services that they offer. The market is growing because of this. In addition, smart contracts will be widely used shortly. You will be able to pay for everything through them.
What will mobile app development look like in the future?
In the near future, you really might be able to get rid of your wallet and use your smartphone to manage all your transactions. With smart contracts, you will be able to make payments in ways that are very convenient. Instead of going to a bank and getting cash or paying with a credit card, you can transfer funds using your phone. The smartphone will be able to store your data and analyze it to ensure that it is secure.
Blockchain will make your life easier. Every mobile app development company is making their apps available in this way. They want to help people save time and money. Your bank may already be using blockchain to do this. You may have already seen this at some point.
If you are looking for ways to make your life easier, you should consider using mobile apps. These apps are a great way to save time and money. By using them, you will be able to communicate with others without having to spend a lot of time doing it.
Trusted Software Engineering Solutions to Help Your Business Succeed!
In today’s business world, it is essential to have reliable software engineering solutions in order to succeed. Many businesses turn to trusted software engineering companies in order to help them with their software development needs. These companies typically have a wealth of experience and knowledge when it comes to building reliable software. They can also offer a variety of services, such as project management, code inspection, and testing. By working with a trusted software engineering company, your business can ensure that its software is error-free and meets all the necessary requirements.
What is software engineering services?
Software engineering services are a type of professional service that provide software development and related support to businesses. They can include everything from project management to testing and bug fixing. Software engineering services can be used by businesses of all sizes, but are particularly popular with larger organizations that need help with complex software projects.
Why these services are important for your businesses?
Software engineering services are important for businesses because they help companies build and maintain their software products. A software product is a collection of computer code that performs a specific task or functions. Most businesses rely on software to run their operations, so it’s important that the software is reliable and error-free.
Software engineering services help companies by creating and maintaining the software products, ensuring they meet customer requirements and are maintained in a consistent manner. Services also provide guidance on how to improve the code base, identify and address defects, and create test cases. In addition, these services can help companies with other aspects of their software development process such as market research, business analysis, design, testing, documentation and packaging.
The benefits of using trusted software engineering solutions:
When it comes to software development, choosing the right tools is key. But which tools are the right ones for you? And what are the benefits of using them? To answer these questions, it’s important to consider your specific needs and goals as a developer. That’s where trusted software engineering solutions come in.
Trusted software engineering solutions provide features and functionality that can help streamline your workflow and make your development process more efficient. They also offer security enhancements and protection against potential threats. In addition, trusty engineering solutions can often save you time and money by automating certain tasks or providing extended functionality not available from other sources. So if you’re looking for ways to improve your development process, consider using trusted software engineering solutions. They may just be what you need to get ahead in the industry.
https://geniusee.com/software Software engineering solutions can help organizations manage complexity and improve reliability and performance. Solutions can be used to create prototypes, design software, test and deploy software, and manage changes to software. Organizations can use these solutions to improve their own management of software development, as well as the overall quality of their products.
Top 3 Custom Aviation Software Solutions for Your Business
Commercial airlines face high demand in today’s evolving market, and aviation solutions might just be the right tools that help companies stay competitive. The challenge is to effectively balance profitability and customer satisfaction without compromising security and stringent regulatory compliance. Plus, the changing technological landscape is a condition that supports surging customer expectations and a more competitive market.
Working in a bespoke software development company with more than ten years of experience in partnering with aviation companies, I can confidently say that this is one of the most modernised businesses in terms of technology. If you think about it, custom aviation software solutions are the backbone of each airline company, be it commercial or private. For airline companies, automation of routine tasks through custom aviation software solutions means that they can speed up their daily operation. Above all, improving operational efficiency will help your company achieve seamless processes that save money and time.
So, in case you’re considering innovating your airline business, here are the top 3 custom aviation software solutions to keep in mind:
- Custom Compliance Solutions for Aviation
It’s no secret that the aviation sector is among the most heavily regulated industries in the world. International agreements apply when several countries are affected, for example, when using foreign airspace or landing rights. For example, The International Civil Aviation Organization (ICAO), founded during the Chicago Convention of 1944, focuses on key objectives such as flight safety, capacity and efficiency, sustainable economic growth, environmental development and of course, (cyber) security.
Rapidly changing requirements due to the Covid-19 pandemic provoke an increased need for aviation solutions for compliance. Airline businesses thus need to constantly keep track of newly updated Covid-19 country policies and prohibitions and adhere to changing regulations. To overcome these difficulties, airline companies need reliable technology that helps them stay on track in this dynamic environment. Custom aviation solutions that are specially designed to comply with international and country-specific regulations are one of the essential success elements. Not only can compliance software solutions automatically make all necessary documentation changes, but they can also take corrective actions as they perform compliance monitoring management (e.g. important policies, reports, reconfigurations, etc.).
- Aviation Software for Flight Planning
In the aviation industry, reliable flight planning software is of utmost importance for numerous reasons. First, well-thought-out flight planning software promotes drastic reductions in dispatch workload. Second, automation lies at the core of workflow efficiency, and when you can rely on a secure software solution, flight planning can cut down the flight costs as the program automatically choose the most appropriate and short flight route, saving valuable time, fuel and financial resources. Third, flight planning software is also essential for maintaining top security levels in aviation. Each moment, nearly 10,000 airplanes are somewhere in the sky above us, which calls for careful coordination and route planning.
At the time of writing this article, the world is still shaken by the Russian invasion of Ukraine. The neighbouring countries have been in a state of military conflict since February 24, 2022, and as a part of all the sanctions and restrictions, almost all European countries have closed their airspace. Reuters shares an image where we can see that shows what a massive impact this military operation has on aviation. With this newly imposed ban from and to Russia and Russia-supporting countries, flight planning has become an extremely challenging task. Many airline companies such as Lufthansa, British Airways and United Airlines have to divert their flying routes to comply with the current ban. Besides, during routine flights, flight planning software plays an utterly important role in such extreme situations.
- Aviation Solutions for Airline Financial Management
According to Statista, the global airline industry is estimated to be worth $471,8 billion in 2021. Despite the major Covid-19-related losses such as cancelled flights, lower passenger traffic and grounded fleets, aviation remains one of the most expensive and most profitable business domains worldwide. Be it cargo air traffic, regular passenger flights or private jets – all these need proper aviation finance software to manage all ongoing expenses and profits. In most cases, airline companies will require a custom software solution for finance that successfully can integrate with third-party systems and performs payment operations, produce electronic invoices and calculate airport cost estimates.
Just think of all the necessary steps needed to perform a single flight. From pre-flight approval procedures, scheduling time slots, crew assignments, passenger communication, check-ins, onboarding, etc. – behind all of them are financial elements. For example, we all know that airline companies must pay harsh airport fines in case they miss their open slots for departure or landing. Plus, airlines also have regular ongoing expenses such as salaries, payments for various services, maintenance, crew safety trainings, etc. Custom aviation software solutions for airline financial management can easily produce electronic invoices for third-party vendors such as airports, the IATA (International Air Transport Association), insurance providers, contractors, food suppliers, etc.
All in all, modern aviation is heavily dependent on technological advancements. Not only do custom aviation software solutions reshape the everyday job of all aviation professionals who might require some digital upskilling, but they also help businesses save time and money, provide higher passenger satisfaction and improve flight security. Readapting to the new normal and more digital than ever business landscape, compliance software in aviation are a must-have for companies that want to remain competitive and avoid potential heavy sanctions.
Besides, custom flight planning solutions are also an inseparable part of today’s modern aviation. Failing to do adequate pre-flight planning can lead to unnecessary airport costs, more expensive routes and longer flight duration. Since the beginning of the pandemic, flight planning software solutions can also assist companies in managing passenger volume. A document by the European Commission regarding slot relief measures from 2020 states that the pandemic provoked changes in the booking behaviour of passenger decisions, and now these are made within weeks or even days of scheduled flights. In these highly unpredictable situations, technology comes to the rescue and helps companies better manage their resource and minimise risks and potential business losses.
Author Biography Aleksandrina Vasileva
Aleksandrina is a Content Creator at Dreamix, a custom software development company, and is keen on innovative technological solutions with a positive impact on our world. Her teaching background mixed with interests in psychology drives her to share knowledge. She is an avid reader and enthusiastic blogger, always looking for the next inspiration.
How to Prosper as a Part-Time Forex Trader
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!
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