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how-to-become-an-expert-trader-with-online-trading-platforms

Have you ever considered trading forex online? Have you thought about signing up with XTrade Europe? If so, then you are probably aware of all of the complexities and intricacies associated with the industry. It is not easy to become a successful trader that knows how to capitalize on currency changes and consistently make a profit.

But the good news is that it is possible to learn. Think about it: no one was born a forex trading expert. Every successful trader had to go through a learning process where they were educated on the industry, on the markets, and how to properly trade. You can also go through this process and turn yourself into a profit-making trader in no time.

Guidelines for Trading Forex on XTrade Europe

There are some basics that you need to understand before jumping into the forex world with XTrade Europe. First, you need to take the time to familiarize yourself with the language used in the financial markets. There are some terms that are less than straightforward and may confuse you if you don’t take the time to learn them.

Furthermore, you need to get an understanding of how online currency trading works. While we won’t detail it in this post, there are tons of resources online. You need to research exactly how forex markets work, how they are traded, and how they move up and down. Similarly, you need to begin to follow world events. It shouldn’t come as a surprise that current events easily influence the values of currencies on the forex markets. That’s why following world events will help you make sense of currency movements and even trade on them.

Lastly, you need to learn about currency pairs and how they work. You should learn about which currency pairs are recommended to trade on, which to avoid, and how to exploit the changes in these currency pairs. This is easier said than done, but if you are able to accomplish this then you have cracked the code to successful forex trading.

Using Broker Resources to Learn

If you are looking for places to educate yourself on the forex industry, don’t look farther than the brokers themselves. There are a number of resources provided by brokers to help novice traders get their bearings.

For example, XTrade Europe runs an academy where there is all sort of information to help traders get started and educate themselves on the industry. There are guides and tutorials to trading and tips and tricks to help you make the most out of your investments in the forex markets. The academy even allows you to perform some simulations before trading with your own money.

Overall, if you are considering entering into the forex industry with XTrade Europe, or any other broker for that matter, then be sure to take the time to learn all there is to know before trading. You don’t want to be in a position where you lost your initial investment because you didn’t fully educate yourself on the markets.



 
  


how-to-mess-up-your-househunting-mission-in-four-easy-steps

There’s no doubt that househunting is one of the hardest, as well as the most exciting, things you’ll ever do. It can be stressful, frustrating and at times just plain terrifying, but if you’re searching for a new home, you can make your life easier by avoiding these four common mistakes. You can easily fall prey to one or more of them, so learn to spot these tendencies before you even visit those Canary Wharf estate agents!

You get emotionally attached to the wrong place

This tends to happen to the more inexperienced buyers, although it can strike seasoned ones, too. Once an emotional attachment is made to a property, it can prove very hard to leave it behind. Sometimes, missing out on that special house can haunt you forever and spoil the enjoyment of the house that you do eventually go on to buy and live in.

A good way to avoid this trap is by sticking strictly to your price range. If you stray over it, then you will probably have to let the place go to someone with more money (ouch). You could of course tell yourself that you can afford that extra £15,000, but remember, it’s an extra £15,000 and all the interest it’ll generate over the years.

Being indecisive or taking too long to ponder things

The property market moves pretty fast, so don’t prevaricate over making an offer. If you like a place and you have your finances good to go, make an offer. If you need to, you can always withdraw it, although don’t do this too often. If you tarry, you could lose your ideal house, as well as your buyers, and end up back where you started.

Having too many requirements and being inflexible

Having a huge must-have list, as well as a huge must not-have list makes for very difficult househunting. This inflexibility can prevent you from exploring options that are only slightly out of your optimum range. Look at places that don’t 100% fit the bill and think about how you could close the gap. Maybe it’s a brilliant house but it’s a couple of minutes outside of your ideal area; really, so what? Have a look around the neighbourhood and see if you can get a feel for it and its advantages. You might find somewhere in your ideal area but it lacks a downstairs bathroom – could you convert the big under-stairs cupboard into a wet room?

Being way too over-optimistic

Of course having a can-do, go-getting attitude is a real asset, but when it comes to property, it’s only really useful if you actually can do whatever it is. If you fall in love with a house that’s in an advanced state of disrepair, or needs major building work to make it fit in with your needs, then it might not be possible. Can you spare the time? Do you have the money? Are you likely to get planning permission for the extension?

As hard as it can be, sometimes you simply have to let a place go – there’ll always be somewhere else.

 


3 Essential Areas to Focus On

Making more profit is NOT the same as generating more revenue.

They are two completely different areas, and something that I see very little discussion on.

profits and revenues

Sure,  I see LOTS of talk about revenues, i.e. six-figure businesses, multi-six-figure businesses, seven-figure businesses, but you never seem to get to the real story behind these headlines – how much profits are they really making? How much of the $100k does the business owner actually get to keep once expenses are paid — that’s the profit!

A six- or even seven-figure business sounds great, but it’s not so great if the profits aren’t there, i.e. you’re only making a $10k profit from a $100k business.

Profits are basically what’s left over (pre-tax or gross) after a business’ expenses have been deducted from its revenues – and this is one area of business that you need to keep a close eye on. So, taking two different scenarios, let’s look at some simple math in determining the profits of a six-figure business and a smaller five-figure business:

Business A – revenue = $125k p.a. with business expenses at $85k. Gross profit (before tax) = $40k or 32% of revenues.

Business B – revenue = $50k p.a. with business expenses at $14k p.a. Gross profit (before tax) = $36k or 72% of revenues.

Which business would you prefer to be the owner of? Obviously Business B because even though the revenues are lower, the profits are much higher, so Business owner B has a handle on their business expenses and is generating a very healthy profit in their business. And this means that when they scale-up their business, they’ll actually be generating a much higher profit.

In order to know if your business is going to make a profit in the current year you need to carefully watch your revenues (income) and expenses. One of the ways I do this (in fact it plays a major role in my business) is to produce a monthly Cash Flow Projection report that gives me the big picture for the year.

Put simply, a Cash Flow Projection shows whether your anticipated income will be able to cover your expected (projected) expenses and this report is very beneficial to you in your business. It is an annual report and, if set up correctly, will show you how cash will flow through your business throughout the current financial year.

You’ll need to keep a close eye on three main areas of your business expenses in order to ensure healthy profits:

1. Essential Business Services – these would be the things such as your shopping cart provider, your merchant account etc. In fact any service that is essential for the running of your business. Without this service your business could not operate. If you purchase any other business services determine how they are adding to your bottom line – is it worth continuing with them?

2. Advertising/Marketing Streams – where do you currently advertise your business and how much is it costing you? Is the return on investment worth it? To track this you need to know exactly where your clients and customers are coming from. One way to do this is to use ad trackers so that you know exactly how effective each advert is; how many leads it’s converting (people who sign up to your list); and how many sales it’s generating. Then you can make an informed decision about whether to carry on with this advertising stream, withdraw from it, or even increase your investment in this advertising stream.

3. Business Development – in order to grow your business you need to grow yourself and this means investing in your learning. Carefully look at all the products and programs you’ve purchased and analyze what the results were for you. How did your investment in this product or program directly grow your business? Did you learn something new that you were able to pass along to your clients in your teachings? Where are your skillset gaps? Do you need to work with a mentor or coach to grow your business again this year?

So, in summary, if you want to ensure a healthy profit in your business you’ll need to track your expenses against your revenues; implement an annual Cash Flow Projection report and update it monthly; and keep a close eye on your business expenses.

Tracey Lawton

About Our GE Network Expert - Tracey Lawton

Tracey Lawton is an expert in online business management, office administration, and developing administrative systems. Online Business Manager and Virtual Assistant, Tracey Lawton, supports professional speakers, coaches, and authors to operate an efficient, organized, and profitable business. Learn how to create an efficient and organized office in 7 EASY steps, and receive free tips at http://OfficeOrganizationSuccess.com.


instant-messenger-apps-slider

As your business grows, you will find that the time your employees spend interacting with customers is growing to grow substantially as well. In order to keep in line with what you need your bottom line to be and to ensure customer satisfaction, you will want to expand on the various ways you assist your customers.

Why Speed Is Of Importance

Most customers are going to lose faith in a company that is giving them the run around when it comes to getting their questions and concerns answered. Even if you are not really giving them the run around, they might feel as though you are if they have to be transferred to one department after another, explaining their story all over again each time, just to have one simple problem addressed.

Use Digital Technology

The use of CTI integration, computer telephony integration, is an important use of your time and your customers time. It will speed up the process of getting to the bottom of the needs of the customer, while freeing up a lot of your employees time. They can be busy handling other things that a digital solution cannot do on its own.

Upgraded Emails

The use of emails might seem like something that should be a thing of the past, but there is nothing that beats solid written communication. It allows the customer or client to reference details again as needed. Of course, thanks to technology and many advancements, you can now add calendar appointments, documents and spreadsheets, and pictures to any email that you send.

Video Conferencing

This is a great way to have a more personal approach with some of your clients, while still remaining completely professional. While many would still prefer a face-to-face meeting, that is not always an option, especially when you are trying to work with clients from all over the world. By using the best technology that is offered in the world of video conferencing, you should have little trouble making a very good impression on your clients.

Instant Messaging

While some people may have a hard time adjusting to the fact that what started as a way for young people to communicate online in chat rooms has now made its way into business practices, it is here to stay. According to Forbes, messaging allows instant, direct, and visual conversations to take place without too much trouble. Also, it gives everyone that chance to hold several conversations at once and no one would be the wiser. This is great for those who need to make sure that they are able to multi-task in their line of work.

As you can now see, there are many ways in which you are now going to be able to effectively communicate with those whom you do business with. All you have to do is dive right in, embrace the changes in the world of technology, and reap the financial benefits. You should notice that your business is thriving from this in no time at all.


want-to-learn-about-ecommerce-bookmark-these-7-sites

If you are new to the world of ecommerce, you’ll soon find that there are many moving pieces to figure out. Beyond important facets like cybersecurity, design, SEO, product pricing and marketing, is still the task of how to host your platform. So whether you are starting your own enterprise ecommerce operation or just want to stay abreast on ecommerce industry trends, check out these seven authority leaders.

The next time you have a question or want to see the latest ecommerce developments, open up your trusty bookmarks and consume the knowledge.

Internet Retailer

Internet Retailer collects updated news and statistics from global ecommerce markets and presents it in an easy-to-read format. You can learn more about marketing trends, such as how 58 percent of the top online retailers send new customers a welcome email. The website offers strategies for online retailers, both new and established, and has regular webinars. Information is published daily, so you will want to check this site out often.

National Retail Federation

The National Retail Federation is the largest retail trade association in the world, offering representation to retailers in the United States and 45 other companies. The organization provides ways for retailers with different expertise to connect and share ideas with one another. You can view retail trends and data on the website, attend professional conferences and take part in educational activities.

Practical Ecommerce

If you are looking for practical advice on how to make your online store succeed, turn to Practical Ecommerce. You will learn about the best ecommerce marketing strategies, how to incorporate SEO keywords to draw in customers, how to take advantage of the many social media websites, and so much more in an easy-to-read format.

Get Elastic

Get Elastic is more than just a catchy name. The site offers information on topics such as digital marketing, integrating mobile apps in your online store and web design. You can subscribe to receive new posts straight into your inbox and find all the latest tips and tricks for creating a successful ecommerce business.

Global Ecommerce Leaders Forum

Global ecommerce is growing and you will want to become a part of this market. Global ecommerce Leaders Forum is the website to visit when you want to learn more about the issues facing retailers in a global world. You can participate in the yearly summit, join the online community and stay updated on the latest trends.

Ecommerce Times

Ecommerce times places much of its focus on the technology side of ecommerce and is a great resource to learn more about this area. The site offers tips on how to conduct your business online, with information for anyone from small business owners to managers. Topics can range from mobile, security, enterprise IT, cyberwar issues and more.

Ecommerce Fuel

Ecommerce Fuel is a private community geared to established business owners who achieved a certain level of success, so you may need to wait before you can sign up to receive full access. In the meantime, the website offers weekly blog updates and podcasts on the latest ecommerce news that is useful to anyone looking to learn more about the industry.

The best ecommerce business owners stay updated on the latest information in their industry. To stay on top of things, be sure to visitthese websites on a regular basis. Once you begin to feel confident in the industry, you should be ready to open your online store.

 



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GetEntrepreneurial.com is a small business blog dedicated to providing business advice and resources to our community of aspiring entrepreneurs. Our specially hand-picked panel of GetEntrepreneurial.com Network experts regularly contribute entrepreneurial content and professional tips for small business owners worldwide.