When people hear of currencies changing, they are often confused. When they hear of the dollar gaining or losing on other types of currency, that do not realize that the currency is actually being bought, sold, and traded. The forex market, also known as the foreign exchange market, is a way for companies, banks, and individuals to trade currencies to try to gain on their initial investments. The forex market is different and unique; the three markets (US, Europe, Asia) have at least one running at all times during the weekdays; this makes this a 24 hour a week-day market, working constantly on the week days to make sure currencies can be traded. All currencies have the opportunity to be traded, but there are obviously major players that are traded the most on the forex market. There are 10 players on the market that find themselves a part of a majority of the trades that happen on the forex market.
The Norwegian Krone, the Hong Kong Dollar, and the Swedish Krona
The Norwegian Krone is the number 10 most traded currency in the forex market, as it is a part of nearly 1.5 percent of the daily transactions that happen. The Hong Kong dollar is the number 9 most traded currency as far as the forex market is concerned. Hong Kongs Dollar is a part of nearly 2 percent of the daily transactions. The Swedish Krona is a part of over 2 percent of the daily trades on the forex market.
The Canadian Dollar, the Australian Dollar, and the Swiss Franc
The Canadian Dollar finds itself at number 7 on the forex most traded list with over 4percent of the daily transaction on the forex market. The Australian Dollar finds itself with over 5 percent of the daily forex transactions and at number 6 on the list, and the Swiss Franc finds itself at number 5 with over 6 percent of the daily transactions.
The British Pound and the Japanese Yen
The British Pound, often compared to the Us dollar, finds itself at number four on the forex most traded list by being apart of nearly 17 percent of the daily transactions. The Japanese Yen comes in at number 3. The Yen is featured in slightly over 20 percent of the daily transactions on the forex market.
The Euro, and the United States Dollar
The Euro is an interesting currency, as it is the currency for multiple countries. This includes countries like Germany. Germany has the bank that does the most trading in the forex market. The Euro is the number two most traded currency on the forex market, as it is a part of nearly 37 percent of the daily transactions. The United States Dollar is easily the most powerful currency on the market, as it is a part of nearly 90 percent of the transactions that occur daily. As the number one most traded currency, it has 5 of the top 10 most active traders on the forex market.
Top 10 On The Charts
1.Set clear performance goals: More than ever, now is the time to make absolutely sure that you set clear and measurable performance goals and ensure that you use every available resource to the maximum. 40% of employees in UK companies are not sure what their employer expects of them and now is the time to double check that every person in your team is 100% focused on the right tasks and activities.
2.Link individual goals to the survival strategy and welfare of the company: Usually a good manager will make sure that every team member understands how their individual role contributes to the success and growth of their company. With the economy compromised, your message is one of linking personal goals to the survival and welfare of the company as opposed to success and growth.
3.Maximise your talent: Your key function as a manager is to get the most out of your people, not in terms of working them harder but in terms of knowing where they are most talented and therefore most likely to excel and deliver outstanding performance. Set stretching goals on people's areas of strength and stop focusing on improving their weaknesses.
4.Hang on to your talent: In order to keep and make the most of your best people, you need to know who has the most potential and spend the majority of your management time mentoring them.
5.Get realistic about weaknesses: We all have weaknesses which is usually a sign that no matter how hard we try in this area, we will never achieve excellence. Temper your expectations. Your people will rarely be brilliant at everything on your ?wish list? but if they can be outstanding at some of the key aspects and simply reach an acceptable standard on the others, often you are onto a winner.
6.Address your weakest link: If you have people who are not performing, now is the time to take decisive action. Underperformers take up a disproportional amount of your time without delivering good return on your investment. Learn how to tackle giving negative feedback and handling difficult situations (like behaviours and performance issues) with your people. It's a skill, usually something we either want to avoid or end up doing badly.
7.Give praise when praise is due: This is the most under utilised tool for motivating your people. Don't wait for perfection! Notice and praise situations and behaviours that went well, pointing out specifically what was good and the positive impact they had. 70% of UK employees report that they don't receive praise regularly. What an easy thing to do that makes a lot of difference.
8.Be inclusive: This is a time of anxiety and even fear for many people and companies. Uncertainty is hard to deal with for most people, especially if they fear their job may be on the line. The best way to deal with this is to include your team in the challenges you face, involve them in generating new solutions and approaches that meet the changing market conditions. Be as open as you can whilst focusing them on the key objectives of the business.
9.Communicate change: Dealing with a constantly changing environment is hard for many people, especially when they don't see the benefits themselves. Every manager needs to be a change expert, not in theory but in practise. Delivering the message and getting buy in is one thing, where the real difference is made is by executing with consistency.
10.Manage yourself: As a manager, you are a mini celebrity and your team watch your every move ? including the inconsistencies between what you say and what you do. Don't expect your people to be calm, focused and resourceful during difficult times, if you are not.
Both Justin Stewart & Jennifer Mckay 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.
Justin Stewart has sinced written about articles on various topics from Motorola Cell Phone, Wedding Bells and Recreation and Sports. Justin Stewart has used software to automatically trade the forex market allowing him to earn a living without lifting a finger, even while he sleeps. You can use the same. Justin Stewart's top article generates over 110000 views. to your Favourites.