Posts tagged: trade

How should you plan for a proper trading method?

money tradingTrading is simple and hard at the same time. It could be either one for you. Or you might experience both while you are in this business. But, if you manage to make a good and simple plan for the growth of your business, it will be very easy for you to maintain your trading performance. With time you can improve your performance and quality of your trading. For that, you must have a basic method of trading. It will be the skeleton for your trading process. And all of the fleshes can be modified according to your preferences. Today we are going to talk about a simple method of trading. Hope you will use this technique for designing your trading approach.

Long lasting trades is first

You might be thinking like a normal business while trading in a marketplace. But here, it is actually the opposite. To make profits, you don’t have to trade too much. If you can trade with efficiency for a long time, it will help you to make a good amount of profit. And the amount would be far better than winning multiple trades. This is the secret of the trading business, to be simple and relaxed. Because with that environment, your head remains sharper than being busy with trades. So, it can think properly and use the strategies in your trade’s plan correctly. And when you can execute a trade correctly and you keep it open for a long time, it will make you a lot of money in the end. So, always try the long trades.

Learning from your mistakes

Learning from your mistake is very hard. But the professional Aussie traders always rely on their past trade to make a decent profit from this market. You might be thinking about the digital journal in the CFD trading industry. Being new to this industry it’s very obvious you will get confused with the long-term outcome of this market. But this is just like your traditional business. You can’t make any real progress unless you trade the market with discipline. To be a disciplined trader you must work really hard. But this is not enough to ensure your profit factors. You must develop the unique skills to learn from your mistakes. Fix your existing issues with the extreme level of care and trade the market with logic. Forget about the big winners even though you have access to high leverage accounts.

Using the daily charts

Before executing any trades, you must observe the condition of the market first. For that, you will have to look at those price charts that are changing in real time. It defines the condition of a market in any current situation. Looking at the charts also have some effects on your trading performance. When you use the smaller time frame charts, it will bother you more than using a longer time frame chart. Because the prices will be frequently changing, you will have to look at them more often. You have to keep up with the market to trade. But, being too busy with chart watching, you might get distracted at the right moment you have to trade. So, you must use longer time frame charts for example at least with 1-hour time span.

Focusing on the position

Timing is necessary for your trades. Otherwise, they might not make good profits. Because the market is not obsolete and it is constantly changing. One minute it could be by your side and the other it can be the opposite side of your trades. So, you must trade with accuracy on time. It is not possible for every trader or every time. But, you must try to improve yourself with time. If you have the focus on timing, one day or another it will get right. Just stay relaxed and look for the right moment to pull the trigger.

Suez Canal Shipping Costs Rise

Suez Canal Shipping CostsSince 1869, the Suez Canal has served as one of the world’s most important waterways, allowing convoys of large freights to travel easily between Asia and Europe without navigating around the African continent. The 193-mile artificial waterway took a decade to build and has seen multiple enlargements over the years. Today the canal supports 8% of the world’s shipping traffic and is used by the world’s largest shipping companies to transport goods. Of course, such convenience comes at a price, and it’s just been announced that the cost of transit on the Suez Canal will now rise by as much as 5%.

The Suez Canal Authority (SCA) in Egypt has implemented the following increases in tolls:

• 5% for ships carrying oil and petroleum products
• 2% for container ships and vessels transporting cars
• 3% for all other ships

Strengthening the Suez

The increase follows a number of recent studies conducted by the SCA, which took a close look at marine traffic on the Suez Canal as well as the waterway’s toll revenues; findings revealed that in 2012, the canal was used by a total of 17 252 ships and 932.43 million tonnes of cargo – ultimately yielding revenues of $5 129 600 000. With the Suez Canal accounting for a significant part of Egypt’s GDP, and a major source of foreign currency, the Government hopes that the toll increases will help to further boost toll revenues and avert a currency crisis. The worldwide effect on trade and shipping traffic remains to be seen in the coming months, but the increase could see more freight owners choosing alternative routes or weighing the cost of the Panama Canal against the Suez.

Rail and Road Links

The Government has also announced that plans are underway to build three tunnels under the canal; two of these 3km long, 12.2m wide) will be used for road links and one longer tunnel (5km long, 12.2m wide) will be dedicated to a rail transport project. This move is part of a larger regional development plan. Hatem Abdel Latif, Egyptian Minister for Transport, told press that the tunnels will contribute to expansion in North Sinai and complete the extension of the coastal road between Rafah and Nuweiba.

As Egypt’s foreign currency reserves begin to dwindle, it is vital that the Government protect this valuable source of foreign income, and look at innovative projects like the Suez Canal rail and road tunnel construction in order to strengthen the country’s economy and trade connections alike.