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Their Lean Journey...
This week was a nightmare, issues with the project and learnt a few things around people management!
Was in Leeds on Wednesday to deliver Basic Lean Awareness training. The training went really well, we demonstrated how to apply 5S, how to identify waste using 8 waste principles and basic understanding of flow and visual management.
That night I stayed at the Queens Hotel in Leeds and I have stayed there before but this time round I stayed in a room where the heating didn't function, no minibar and to top it off the tv wasn't picking up the signal clearly! Having complained about the heating and tv twice that night I have had no one come back to me!
On the Thursday went to Bolton also to deliver the same training and also great feedback and one I liked was the staff felt more engaged and felt they was part of the Lean Journey... I had a big grin on my face.
This week I'm in edinburgh for my last part of the Blackbelt training so wish me luck! For now I need to studying....
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FX trading?
My weekend is about to end and it seems like there is not enough hours in a day! The car needed some tender loving care, so took it to one of my local car cleaners and must say they did a tremendous job!
As I was on my laptop earlier I noticed that I'm on several social websites such as Facebook, twitter, LinkedIn and another one that I can't remember the name of! Your thinking why have I joined soo many, well its for networking! So big question, have I met anyone in terms of networking to share Six Sigma knowledge or business start up ideas? Errmmm.. No I haven't... I reckon that people register with a social website and not bother to go back and sign in...oh well!
Ok its been a while but I have been looking into the fundamentals of Forex Trading. I have been reading materials, speaking to professionals and attending seminars.
There is lot to take it, especially as Currencies move up or down but I'm looking to cover some of the basics over the next few blogs.
I will be focusing on GBP-USD and EUR-USD, if I focus on these 2 I should be able to understand the trends and movements.
The FX market has now opened and I like the fact that this is a 24hour market during Mon to Fri.
If anyone wants to setup a group to discuss strategies or techniques let me know!
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Something to start of your week!
Something i wanted to share with everyone, this is hilarious!!
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Are you ready to start trading?
Following on from the previous post, once you have decided that you are ready to start trading, there are a few things that you need:
Obviously, a computer connected to the internet is one of them. How about a trading account I hear you ask? That's easily sorted out as well.
I recommend you try the following online brokers and you can decide which one looks the best and is the most cost effective for the amount of trading you will do:
1. E*TRADE – www.etrade.co.uk
2. Selftrade – www.selftrade.co.uk
3. Barclays Stockbrokers – www.stockbrokers.barclays.co.uk
These are probably amongst the best online brokers around and do not charge that much to setup and account and start trading.
Ok, now what else do we need? Oh yes, share prices. Many real-time share price monitoring websites are available, some are for free, and some require a monthly subscription fee.
Once again, test some out and see what one suit you best. Most of the subscription based monitoring websites are real-time, so you can see the share price changes as they happen.
A lot of the free share price monitoring websites has a delay in their feed. So if you are doing a lot of trading in a volatile section of the market, I would recommend you getting a real-time monitor so that you do not execute a share purchase at the wrong price.
So, to give a quick recap of what you need to do before you can start trading in shares: You need internet access, you need a brokerage account and you need to know what the share prices are before you can start trading.
Ok, that all sounds very easy. But what shares do you buy next? My suggestion is to look at well-known brands that you know, research their historic share prices and keep a watch on their prices.
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What do you want from your trading?
One of the most important aspects when doing online share trading is knowing what to do when, and to know how much money is safe to spend. Your share dealings should always be done with money that would not bring hardship to you should you lose the money. You should open an online brokering account and set up an ISA and maximise your earnings by trading through your ISA's so as to avoid excessive taxation.
No fancy stock market trading software is needed, as most online brokerage accounts offer real-time share price quotes in real-time. Stock market trading can be daunting for beginners and therefore as much research should be done as possible before the plunge is taken. Many brokerage companies also offer free demo accounts to learn with virtual stock trading.
With the common misconception that to be successful in online trading, you need a lot of money and be able to take big losses without feeling it. Of course, for the most part, this might be true, but instead of spending money on non-essentials, you might very often take a few months and save up a bit of money, not a lot, a few hundred and invest this in a suitable stock that you have researched.
Over a short period of time, this might double or treble in value, or then again, it might even decrease in value. Never ever trade with money that should be used for essential living and it is never a good idea to trade stocks as a main source of income.
Should the stock market crash, you will be left with no disposable income and no way to recoup your losses, if you did have another source of income, this would be easier to start over again.
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What type of trader are you? Part II
Addictive to Softwares
These type of traders love to invest in Software's. They will look around and invest lots of money into software's to do the analysis and research and indicate when is the good time to buy or sell. The software's are expensive and range from a couple of hundred pounds to even a couple of thousand pounds. They get frustrated when a system tells them to buy a particular stock but it sinks, they kick and sigh and wonder how could that have happened when the system said it was a guaranteed buy. More money is wasted and frustrated. Get back to reality and do some research and analysis yourself.
Long Term Steady Investor (yeah baby)
These traders don't invest in a regular basis. They make cautious decisions based on through research, analysis and other factors. They would buy stocks but will hold on for a long period for the investment to grow and take small profits or large profits as and when. I particularly fall into this category and look at the long term potential and other varying factors.
Lets look at the Accounts records
These traders look though and though the companies financial details, bit by bit and looking and opportunities and flaws to determine a buy or sell. Gets boring reading the financial details but take some key details from there and leave the rest as the Markets tend to not follow the financial details unless the company is in trouble. Looking the financial documents is time consuming and confusing and by doing this you would never get a chance to buy shares and if you do decide then you miss the boat.
Penny Share traders
I must admit i was there a long time ago, Penny traders look for shares that have hit rock bottom hoping for it to go back to levels in the high in the previous months, but then the prices keep dropping and then sell as the fear kicks in that you will lose more than you anticipated. I have lost a bit and I'm sure many others had. The rush and adrenaline kicks in when you see it drop and think this has bound to go back up, but hey remember don't buy on instinct its going down for some reason look into it before you buy.
Bulletin Board traders
These traders make me laugh, they hype up the companies in the bulletin boards and make all these claims that 'good things are to come' and makes would be investors think is he right and engage in a conversation and then explodes into many people taking and then the share price increases and the original people on the bulletin boards dump their shares and the share price dips. This is called a pump and dump, where people will discuss about the potential of the company and something big is to happen and the market value goes up by number of buyers and then dips back to normal value once the steam has gone on the discussion board, this sometimes leaves the company writing a statement to the markets saying they have nothing to do with the increase in the share price and does not know why.
Anxious Trader
These traders hyperventilate when the share prices drops, even by a small percentage. They are frightened that the drop could go as low as possible. But once they have sold they go back in and buy the stock once they have gone up. The trouble with this is costing them a lot of money ie traders charges and the cost of the spread of the shares when buying and selling. In my opinion they are generating wealth for the share trading companies. His chances of surviving in this world, very very low.
Why did I inform you about these traders you say? I have identified these from peoples behaviour and shared these with you for you to read and see what type of character you fit into. I'm not saying nether of these type of traders are wrong but its good to try and understand how you fit amongst all the other traders and see what other styles there are.
OK the big news this week is about Dubai's ability to repay its massive amount of debt. Gordon Brown stepped in and calmed the UK markets, however i think that's strange when he didn't do that when the UK Banks was failing. What does this mean for the conditions of the Market? we just have to wait and find out soon.
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What type of trader are you?
There are many types of traders out there, having read books and materials and reading posts on financial boards. I have identified some and its worth while having a look at them and trying to understand what type you are and how successful each one of those types are:Chartitist PersonThey will examine the charts with all types of tools available to them like Fibonacci ratios, Boxplots, MACD divergencies and Bollinger Bands and likes to draw pretty coloured lines all over the chart to get to a decision to either buy or sell.Well, i confess that i do use some charts but to too much over analysing charts.Day TradersDay Trader means Buying and Selling shares in a short period of time. These day traders take many small profits but many people also lose at the same time. And that's a reality, but Mr Day Trader will boast he has made many, hmmm.... let them. Day Trading is hard, it takes a lot of time and energy into research and is very stressing. On top of all of that with the commissions and spreads on the trade its difficult to earn much each day as a sustainable income.Cautious but SafeThese type of investors like to invest in safe companies, such as major supermarkets as people do need to shop for groceries, major energy companies as people need to get petrol for vehicles. In my opinion in the long run they do end up with a good return, well better than it would be in the bank. But remember that he is not losing much and not stressing every day and going on with his life. However, you do need to jump and take a little bit of risk.Its getting late now so will comtinue with this post on my next blog....
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