Barking away at the top of the Forex dog-pile are banks, of course. Surprised? Bank trading takes up a huge share of the Forex market, with bank transactions accounting for over 50% of all Forex transactions. Makes sense, right? Banks are loaded-- they have access to enormous amounts of international currency, and can use the Forex market to make money, entice stock investors, and improve conditions for their customers.
Banks often trade on behalf of their customers, and most of these trades are made with other banks all over the world. This is called inter-bank trading, and accounts for billions and billions (and billions!) of dollars of daily trading. Makes you feel a bit small, doesn't it?
2. Commercial and Multinational Companies
Unlike the Forex players who participate directly with the Forex market, commercial and multi-national companies do it through the exchange of goods and services all of which can be exchanged in different currencies. And even if they don't have their finger directly in the pie, so to speak, multi-national companies are hugely important players on the Forex market and they make an enormous contribution to the amount of money traded daily on the market. Think of it this way: the main reason we have a foreign exchange market in the first place is global trade. And it's the companies who are actually involved in the trade of goods and services that keep the global economy moving.
3. Central Banks and Governments
On the next level down you'll find central banks and governments. These entities set monetary policies, such as interest rates, that play a very big part in the Forex market. Interested in more than just making a profit, central banks control things like inflation and money supply within their country in order to stabilize the local currency. The largest and most prosperous central banks are in London, Tokyo, and New York.
4. Financing Companies
Financing companies, such as mortgage and credit card companies, tend to use the Forex market similarly to banks, but on a smaller scale. Financing companies trade on the Forex market to encourage investment in their shares, but unlike banks, don't generally pass any opportunities for investment on to their customers. No surprise there after all, they're credit card companies, right?
5. Retail Forex Brokers and Private Speculators
Down at the bottom of the pile? You and me. We're the ones who participate in the Forex market on a smaller scale, making money by taking advantage of the movement of a pair of currencies.
Five Major World Religions
1. Procrastination
I will do it tomorrow, I will get to it soon or whatever excuse you use, it's all procrastination. The feeling that you will complete the project or task in the near future will rob you of your time today and cause unnecessary stress when there is no more tomorrows left. In order to avoid this time trap, start your work day with the most unpleasant task first. Decide and visualize the desired outcome of the project and list small daily assignments that will get you to completion. You don't have to complete the project in one day, just work on it daily, set deadlines in order to reach the desired outcome. Also, think about the consequences of not doing the project or task, which alone will motivate you to get it done. Block time on your schedule for tasks and commit to following your schedule, this will help you avoid putting off until tomorrow. Once the project is completed, you will feel emotionally great to complete other duties.
2. Emails / Telephone
Block time in your schedule to read and reply to emails. I check and reply to emails in the morning before I start my daily tasks and once again as I close my day. I only check emails during the day if I have a few minutes due to cancellations or I have finished a task sooner than anticipated. If you review & respond to emails all day or whenever you get mail, you will tend to spend more time corresponding on the internet and not completing other much needed tasks. Create folders for emails that you do not have time to read but would like to read them later on your personal time. Use filters to avoid the over abundance of unwanted mail and keep replies short and to the point. Depending upon your services or products, it is great to establish a “frequently most asked questions” list and use it to reply to questions or post it on your web page ( if you have one) as a point of reference, if the reply does not require a more customized answer from you.
3. Meetings
Before you attend or arrange a meeting make sure you have an agenda. The agenda should include the purpose of the meeting, intended outcome and action items to review. Set a start and ending time for meetings. Stay on schedule and do not allow the meeting to go past the scheduled ending time. Take accurate minutes or tape the meeting and have the notes transcribed and send it to all parties in attendance. Make sure there is a necessary need for the meeting so you do not spend time outside of your office if it is not needed.
4. Unexpected Visitors
Set office hours (especially if you are a home based business owner) and share the hours with family, friends and associates. Let them know that you are working during those hours and you should only be distracted if there is an emergency. Keep your office door closed and hang a do not disturb sign on your door. Do not engage in aimless conversation, make a decision and end discussion.
5. No Daily Game Plan
You must start your day knowing what you need to accomplish on that day. Do not waste time wondering what you will do today. Purchase a weekly planner or use a spiral notebook and list time & tasks, any appointments, blocked time for telephone calls, emails and marketing. Put everything on your schedule with deadlines. At the end of the day, clear your desk and plan the next day's activities. You will feel organized, proud and enjoy your day without worrying about tomorrow's task, they are already planned. At the end of the week, you can than evaluate your weekly progress and make changes accordingly.
Both Muneeb Ahmed & Bridgette Boudreaux are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Muneeb Ahmed has sinced written about articles on various topics from Forex Online, Online Forex Trading and Forex Online. We don't care about stimulating economies or doing international business? we're in it for the cash, plain and simple. And while we're at the bottom of the pile, it's pretty crowded down here. According to Greenwich Associates, the total volume of electr. Muneeb Ahmed's top article generates over 3600 views. to your Favourites.
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