The world economy has just been through a severe recession marked by financial turmoil, large-scale destruction of wealth, and declines in industrial production and global trade. According to the International Labor Organization, continued labor-market deterioration in 2009 may lead to an estimated increase in global unemployment of 39-61 million workers relative to 2007. By the end of this year, the worldwide ranks of the unemployed may range from 219-241 million — the highest number on record.
Meanwhile, global growth in real wages, which slowed dramatically in 2008, is expected to have dropped even further in 2009, despite signs of a possible economic recovery. In a sample of 53 countries for which data are available, median growth in real average wages had declined from 4.3% in 2007 to 1.4% in 2008. The World Bank warns that 89 million more people may be trapped in poverty in the wake of the crisis, adding to the 1.4 billion people estimated in 2005 to be living below the international poverty line of $1.25 a day.
In this climate, globalization has come under heavy criticism, including from leaders of developing countries that could strongly benefit from it. President Yoweri Museveni, who is widely credited for integrating Uganda into world markets, has said that globalization is "the same old order with new means of control, new means of oppression, new means of marginalization" by rich countries seeking to secure access to developing country markets.
Yet the alternative to global integration holds little attraction. Indeed, while closing an economy may insulate it from shocks, it can also result in stagnation and even severe homegrown crises. Current examples include Myanmar and North Korea; before their economic liberalization China, Vietnam, and India were in the same boat.
To ensure a durable exit from the crisis, and to build foundations for sustained and broad-based growth in a globalized world, developing countries in 2010 and beyond must draw the right lessons from history.
In the current crisis, China, India, and certain other emerging-market countries are coping fairly well. These countries all had strong external balance sheets and ample room for fiscal maneuver before the crisis, which allowed them to apply countercyclical policies to combat external shocks.
They have also nurtured industries in line with their comparative advantage, which has helped them weather the storm. Indeed, comparative advantage — determined by the relative abundance of labor, natural resources, and capital endowments — is the foundation for competitiveness, which in turn underpins dynamic growth and strong fiscal and external positions.
By contrast, if a country attempts to defy its comparative advantage, such as by adopting an import-substitution strategy to pursue the development of capital-intensive or high-tech industries in a capital-scarce economy, the government may resort to distortional subsidies and protections that dampen economic performance. In turn, this risks weakening both the government's fiscal position and the economy's external account. Without the ability to take timely countercyclical measures, such countries fare poorly when crises hit.
Hi This Vinod Kumar
Hi, Every body Myself is Chettampally Vinod, i am a Stock Exchange Broker. Here I am sharing my experience with All of you...
2009 proved to be the best year for the markets
Best Year for The Marketers
With returns on investment more than 79%, 2009 calendar year emerged as the best year for investors since 2000. Even as three trading sessions are yet to go, the benchmark Sensex closed on its 18-month high on Thursday at 17360. FII’s have once again proved to be the frontrunners in terms of the inflow, pumping more than Rs 82,000 crore in the Indian market this calendar. For the first time ever, the Sensex witnessed the upper circuit limit of 20%, halting trading for the whole day. It was this year that market capitalisation of Indian bourses doubled (till December 24th) from $0.63 tn to $1.28 tn.
While a financial scam from the promoters of prestigious IT firm Satyam Computers and a four-year-low market in March 2009 rattled the players in the arena, analysts observe that 2009 represents the year of great recovery and re-establishment of India growth story on the global map. “It is a year of grand recovery of Indian economy . We have seen re-establishment of the India growth story which brought back FIIs towards India,” says D D Sharma, senior VP, Anand Rathi Securities. According to him, those who doubted the market, lost chance to make money. To recall, majority market participants were not convinced about the recovery during the early phase of the revival even as the market continued its upward ride post-March 2009. Analysts note that even now, some retail participants like retail investor Jayesh Mehta for instance, are skeptical about the market and prefer to stand aside and not invest a pie of their hard-earned money for the moment. Mehta who liquidated his whole portfolio when the Sensex was at the 15,000 level in June 2009, has been awaiting for the correction to re-enter , but hasn’t found an opportunity so far. “After the 2008 fiasco, I don’t want to burn my fingers again and hence, am being extra cautious,” he says. City based sub-broker Mayur Shah observes : “Investors are too careful at the moment and are not ready to lose money the way they did duringthe meltdown. So they are taking very small positions for the short to medium term. Majority of my clients have sold holdings in their respective portfolios without taking profit-loss in the consideration in 2009.” Sharma notes that post-mid-March 2009 the market has not seen big correction to encourage retail investors. “It isn’t that retailers aren’t convinced about the booming market. Considering no big correction is happening, retailers are hesitant to buy at a cheaper rate,” he points out. Sharma however, quips and adds that with sentiments changing, the market is seeing participation of FIIs, DIIs, HNIs and retailers . “We will see new high in the Sensex during 2010 calendar. FIIs flow will remain robust . Also internal inflow is very important and so valuation could go up further,” Sharma says.
With returns on investment more than 79%, 2009 calendar year emerged as the best year for investors since 2000. Even as three trading sessions are yet to go, the benchmark Sensex closed on its 18-month high on Thursday at 17360. FII’s have once again proved to be the frontrunners in terms of the inflow, pumping more than Rs 82,000 crore in the Indian market this calendar. For the first time ever, the Sensex witnessed the upper circuit limit of 20%, halting trading for the whole day. It was this year that market capitalisation of Indian bourses doubled (till December 24th) from $0.63 tn to $1.28 tn.
While a financial scam from the promoters of prestigious IT firm Satyam Computers and a four-year-low market in March 2009 rattled the players in the arena, analysts observe that 2009 represents the year of great recovery and re-establishment of India growth story on the global map. “It is a year of grand recovery of Indian economy . We have seen re-establishment of the India growth story which brought back FIIs towards India,” says D D Sharma, senior VP, Anand Rathi Securities. According to him, those who doubted the market, lost chance to make money. To recall, majority market participants were not convinced about the recovery during the early phase of the revival even as the market continued its upward ride post-March 2009. Analysts note that even now, some retail participants like retail investor Jayesh Mehta for instance, are skeptical about the market and prefer to stand aside and not invest a pie of their hard-earned money for the moment. Mehta who liquidated his whole portfolio when the Sensex was at the 15,000 level in June 2009, has been awaiting for the correction to re-enter , but hasn’t found an opportunity so far. “After the 2008 fiasco, I don’t want to burn my fingers again and hence, am being extra cautious,” he says. City based sub-broker Mayur Shah observes : “Investors are too careful at the moment and are not ready to lose money the way they did duringthe meltdown. So they are taking very small positions for the short to medium term. Majority of my clients have sold holdings in their respective portfolios without taking profit-loss in the consideration in 2009.” Sharma notes that post-mid-March 2009 the market has not seen big correction to encourage retail investors. “It isn’t that retailers aren’t convinced about the booming market. Considering no big correction is happening, retailers are hesitant to buy at a cheaper rate,” he points out. Sharma however, quips and adds that with sentiments changing, the market is seeing participation of FIIs, DIIs, HNIs and retailers . “We will see new high in the Sensex during 2010 calendar. FIIs flow will remain robust . Also internal inflow is very important and so valuation could go up further,” Sharma says.
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Currency trading fast Ludhiana
Currency trading fast in Ludhiana
Alike some people, who in equity market buy shares at low price and sell them few hours later after prices of share increase, people in city have adopted currency trading. The concept that came into existence around half-a-year ago was basically for the benefit of exporters and importers, to whom a little fluctuation in dollar prices at the time of making payments or receiving, made a big difference.
As importers and exporters are adopting the facility to secure their money while trading at international level, general public too has started buying and selling dollars, though they do not do it for foreign trading, but to get benefited through the margins that a dollar leaves when its price in comparison to rupee increases. The popularity of this new trading system can been gauged from the quantum of trading in country per day. The Indian currency market for a day is around ten lakh lots, whereas a lot is equal to one thousand dollars, claimed Vishal Sharma, assistant branch head, Religare Securities Limited.
‘This is a more investor friendly system as currency trading is possible from 9 am to 5 pm,’ informed Summit Janghwal, chief branch manager, India Bulls Securities. ‘The margin between the selling and buying price is what they earn,’ said Summit admitting that people indulge in speculative trading, but added that not every time they are at a better footing.
Informing that trade is monitored through NSE, he said, ‘Importers and exporters using this facility, can secure their money despite fluctuations in dollar prices.’ He elaborated that fluctuations in dollar prices sometimes make a big impact on the money, when it is converted into rupees.
Alike some people, who in equity market buy shares at low price and sell them few hours later after prices of share increase, people in city have adopted currency trading. The concept that came into existence around half-a-year ago was basically for the benefit of exporters and importers, to whom a little fluctuation in dollar prices at the time of making payments or receiving, made a big difference.
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Sensex up by 106 points in early morning trade
Mumbai, Dec 3 (PTI) The Bombay Stock Exchange benchmark Sensex today rose about 106 points in early morning trade on emergence of buying by funds and retail investors amid firming Asian markets. The 30-share Sensex, which had lost 28.36 points in yesterday's volatile trade, recovered by 105.99 points, or 0.62 per cent to 17,275.90 in early morning trade.
The wide-based National Stock Exchange index Nifty also moved up by 37.35 points, or 0.72 per cent, to trade at 5,160.60 points. Brokers said fresh buying in select heavy-weight stocks by funds as well as retail investors amid firming trend on the Asian markets mainly helped the bourses trade in the positive terrain.
Stocks of oil and gas, metals, auto and realty sectors were major gainers with increased interest from the traders. Among auto stocks, the country's largest car maker, Maruti Suzuki, continued its upward journey and gathered another.
The wide-based National Stock Exchange index Nifty also moved up by 37.35 points, or 0.72 per cent, to trade at 5,160.60 points. Brokers said fresh buying in select heavy-weight stocks by funds as well as retail investors amid firming trend on the Asian markets mainly helped the bourses trade in the positive terrain.
Stocks of oil and gas, metals, auto and realty sectors were major gainers with increased interest from the traders. Among auto stocks, the country's largest car maker, Maruti Suzuki, continued its upward journey and gathered another.
BSE Training Institute
BSE has carved out a unique position among stock exchanges in the world in respect of knowledge development and management. It set up an exclusive training facility way back in 1989 which has now emerged as the leading facility in financial and securities market training in India.
BTI currently offers 36 courses, conducted over 180 programmes attended by over 8,000 participants a year. Participants are not only from all over the country but also from South Asia, Central Asia, Eastern Europe, Middle East and Africa. BTI also conducts various customised programmes for leading corporate and financial institutions.
BTI currently offers 36 courses, conducted over 180 programmes attended by over 8,000 participants a year. Participants are not only from all over the country but also from South Asia, Central Asia, Eastern Europe, Middle East and Africa. BTI also conducts various customised programmes for leading corporate and financial institutions.
Stronger dollar, weak economic data pummels US stocks
From Angola to Belarus, emerging-market governments are planning first-time debt offerings to take advantage of the biggest bond rally in at least 11 years. Investec Asset Management, Aberdeen Asset Management and Threadneedle Asset Management say they may buy some of the $4 billion of debt Angola plans to sell, as well as proposed dollar bonds from Belarus.
Vietnam aims to raise $1 billion in its first offering of foreign-currency securities in four years, deputy prime minister Nguyen Sinh Hung said on Wednesday. Iran, under three sets of United Nations Security Council sanctions, targets a e1 billion sale by December. Developing-nation government bonds are trading near the lowest yields on record, at an average of 6.49%, after the biggest 12-month decline. Sales rose 70% to a record $554 billion this year as central banks across the world cut interest rates .
Debuts are planned by governments without credit ratings or dependent on international bailouts. “It’s because of the wall of money that comes from extremely accommodative monetary policy globally,” said Edwin Gutierrez, emerging-market money manager, Aberdeen.
Developing-nation dollar bonds have returned 26% so far this year, according to JPMorgan’s benchmark EMBI+ Index, compared with a 23% gain in the S&P’s 500 index. Emerging-market debt is trading at average yields 0.15 percentage point above a low in 2007 of 6.34%. Demand for higher yields was one reason investors placed $28 billion of orders for Qatar’s $7 billion bond sale this week, the largest emerging-market deal to date. They received 1.85 percentage points more in interest on the five-year securities than US. Treasuries, compared with 3.4 percentage points when the government went to market in April.
“People are allocating into emerging-markets because they are the standout performers,”said Peter Eerdmans, the head of emerging-market debt at Investec. Angola is seeking to sell its first international bonds to help pay for construction projects after a decline in oil proceeds. The country will need to offer higher yields than other sub-Saharan nations including Ghana, whose bonds due 2017 that were sold in 2007 yield 8.5%, said Aberdeen’s Gutierrez. Belarus, a country of 10 million people with an economy the size of Sudan’s, has received $3.5 billion of International Monetary Fund bailout loans this year.
Vietnam aims to raise $1 billion in its first offering of foreign-currency securities in four years, deputy prime minister Nguyen Sinh Hung said on Wednesday. Iran, under three sets of United Nations Security Council sanctions, targets a e1 billion sale by December. Developing-nation government bonds are trading near the lowest yields on record, at an average of 6.49%, after the biggest 12-month decline. Sales rose 70% to a record $554 billion this year as central banks across the world cut interest rates .
Debuts are planned by governments without credit ratings or dependent on international bailouts. “It’s because of the wall of money that comes from extremely accommodative monetary policy globally,” said Edwin Gutierrez, emerging-market money manager, Aberdeen.Developing-nation dollar bonds have returned 26% so far this year, according to JPMorgan’s benchmark EMBI+ Index, compared with a 23% gain in the S&P’s 500 index. Emerging-market debt is trading at average yields 0.15 percentage point above a low in 2007 of 6.34%. Demand for higher yields was one reason investors placed $28 billion of orders for Qatar’s $7 billion bond sale this week, the largest emerging-market deal to date. They received 1.85 percentage points more in interest on the five-year securities than US. Treasuries, compared with 3.4 percentage points when the government went to market in April.
“People are allocating into emerging-markets because they are the standout performers,”said Peter Eerdmans, the head of emerging-market debt at Investec. Angola is seeking to sell its first international bonds to help pay for construction projects after a decline in oil proceeds. The country will need to offer higher yields than other sub-Saharan nations including Ghana, whose bonds due 2017 that were sold in 2007 yield 8.5%, said Aberdeen’s Gutierrez. Belarus, a country of 10 million people with an economy the size of Sudan’s, has received $3.5 billion of International Monetary Fund bailout loans this year.
World markets fall after Fed sees deeper slowdown
stock markets fell on Thursday after the US central bank predicted an even deeper recession in the world's largest econonmy
Major Asian markets like Tokyo and Hong Kong lost about 1 percent or more, oil prices retreated from six-month highs and a weaker dollar weighed on the region's exporters. Technology shares, meanwhile, were bruised by Hewlett-Packard's dispiriting outlook for the year.
Investors in Asia to Europe were scaling back risky bets on stocks after the Federal Reserve cut its forecast for 2009, saying America's economy could shrink between 1.3 and 2 percent compared to the prior estimate of 0.5 and 1.3 percent. In an ominous sign for Asian companies that rely on U.S. consumer spending, the Fed's policymakers also said the unemployment rate could approach 10 percent.
As on Wall Street, where stocks sank overnight, the news further muddied the economic picture after weeks of better-than-expected readings inspired talk of a stabilization and sent markets worldwide soaring.
With major indexes from Asian to the U.S. up 30 percent or more over the last couple of months, some investors increasingly urge caution.
``A lot of the economic evidence is a bit better but still very bad,'' said Peter Lai, investment manager at DBS Vickers in Hong Kong. He said the Fed's unemployment projections were especially unsettling.
``I'm just not comfortable buying at these levels to be honest, and think a correction is imminent,'' he said.
As trading opened in Europe, benchmarks in Britain, Germany and Francy dropped between 1.5 percent and 2 percent. U.S. futures pointed to more gloom on Wall Street Thursday. Dow futures fell 42, or 0.5 percent, to 8,353 and S&P futures dropped 4.8, or 0.5 percent, to 895.10.
Japan's Nikkei 225 stock average lost fell 80.49 points, or 0.9 percent, to 9,264.15, and Hong Kong's Hang Seng shed 276.35 points, or 1.6 percent, to 17,199.49.
Elsewhere, South Korea's Kospi dropped 1 percent to 1,421.65. Shanghai's index fell 1.5 percent, Australia's was off 0.3 percent and India's Sensex, not yet closed, lost 1.4 percent to 13,865.83.
Still, Wednesday's lull was relatively tame, just like many of the market's recent daily losses _ a sign there are investors still flush with cash and willing to buy. Investors, for example, plied global hedge funds with some $15 billion in April alone, the largest monthly inflow since before the dramatic selling in September last year, according to Singapore-based Eurekahedge.
Analysts say many investors dread losing out on the recent rally. That's especially true in white-hot emerging markets like China, whose Shanghai index has surged more than 40 percent this year to become world's best performing market.
The situation has given rise to a new saying in the market: ``fear of missing out,'' said Jing Ulrich, chairwoman of China equities for JPMorgan.
“We've had 10 weeks of consecutive gains. No one wants to be missing out on this buoyancy,'' she said in Hong Kong.
The Fed's outlook, contained in minutes of its April policy meeting released Wednesday, reined in optimism on Wall Street, with banks taking the brunt of the selling.
The Dow Jones industrials fell 52.81, or 0.6 percent, to 8,422.04. The blue chip gauge had been up as much as 117 points in early trading. The Standard & Poor's 500 index slipped 4.66, or 0.5 percent, to 903.47.
Oil prices eased off six-month highs in Asia, with benchmark crude for July delivery down 73 cents to $61.31 a barrel. On Wednesday, the July contract rose $1.94 to settle at $62.04 after the government said U.S. crude inventories fell for a second week, suggesting demand may be improving.
Major Asian markets like Tokyo and Hong Kong lost about 1 percent or more, oil prices retreated from six-month highs and a weaker dollar weighed on the region's exporters. Technology shares, meanwhile, were bruised by Hewlett-Packard's dispiriting outlook for the year.
Investors in Asia to Europe were scaling back risky bets on stocks after the Federal Reserve cut its forecast for 2009, saying America's economy could shrink between 1.3 and 2 percent compared to the prior estimate of 0.5 and 1.3 percent. In an ominous sign for Asian companies that rely on U.S. consumer spending, the Fed's policymakers also said the unemployment rate could approach 10 percent.
As on Wall Street, where stocks sank overnight, the news further muddied the economic picture after weeks of better-than-expected readings inspired talk of a stabilization and sent markets worldwide soaring.
With major indexes from Asian to the U.S. up 30 percent or more over the last couple of months, some investors increasingly urge caution.
``A lot of the economic evidence is a bit better but still very bad,'' said Peter Lai, investment manager at DBS Vickers in Hong Kong. He said the Fed's unemployment projections were especially unsettling.
``I'm just not comfortable buying at these levels to be honest, and think a correction is imminent,'' he said.
As trading opened in Europe, benchmarks in Britain, Germany and Francy dropped between 1.5 percent and 2 percent. U.S. futures pointed to more gloom on Wall Street Thursday. Dow futures fell 42, or 0.5 percent, to 8,353 and S&P futures dropped 4.8, or 0.5 percent, to 895.10.
Japan's Nikkei 225 stock average lost fell 80.49 points, or 0.9 percent, to 9,264.15, and Hong Kong's Hang Seng shed 276.35 points, or 1.6 percent, to 17,199.49.
Elsewhere, South Korea's Kospi dropped 1 percent to 1,421.65. Shanghai's index fell 1.5 percent, Australia's was off 0.3 percent and India's Sensex, not yet closed, lost 1.4 percent to 13,865.83.
Still, Wednesday's lull was relatively tame, just like many of the market's recent daily losses _ a sign there are investors still flush with cash and willing to buy. Investors, for example, plied global hedge funds with some $15 billion in April alone, the largest monthly inflow since before the dramatic selling in September last year, according to Singapore-based Eurekahedge.
Analysts say many investors dread losing out on the recent rally. That's especially true in white-hot emerging markets like China, whose Shanghai index has surged more than 40 percent this year to become world's best performing market.
The situation has given rise to a new saying in the market: ``fear of missing out,'' said Jing Ulrich, chairwoman of China equities for JPMorgan.
“We've had 10 weeks of consecutive gains. No one wants to be missing out on this buoyancy,'' she said in Hong Kong.
The Fed's outlook, contained in minutes of its April policy meeting released Wednesday, reined in optimism on Wall Street, with banks taking the brunt of the selling.
The Dow Jones industrials fell 52.81, or 0.6 percent, to 8,422.04. The blue chip gauge had been up as much as 117 points in early trading. The Standard & Poor's 500 index slipped 4.66, or 0.5 percent, to 903.47.
Oil prices eased off six-month highs in Asia, with benchmark crude for July delivery down 73 cents to $61.31 a barrel. On Wednesday, the July contract rose $1.94 to settle at $62.04 after the government said U.S. crude inventories fell for a second week, suggesting demand may be improving.
The dollar weakened to 94.51 from 94.58. The euro was higher at $1.3790 from $1.3783.
Asian stocks fall on quiet trading day
With most markets closed for public holidays there was little to influence traders, who had an eye on a G20 meeting later this week of the world's most powerful economies.
Hong Kong lost 0.70 percent, Sydney 0.34 percent, Seoul 0.25 percent and Taipei 0.32 percent. However, Shanghai edged up 0.15 percent.
Dealers will also be looking at the outcome of a US Federal Reserve meeting that will decide on whether to raise rates and give its forecast for the world's biggest economy.
Tokyo, Singapore, Manila, Kuala Lumpur, Jakarta and Mumbai were all closed for public holidays.
HONG KONG: Down 0.70 percent. The Hang Seng Index finished 150.60 points lower at 21,472.85.
Analysts said they expect a slew of initial public offerings to lend support to Hong Kong shares but said they will lead to liquidity fears.
At least 10 firms are set to raise more than 48 billion Hong Kong dollars from IPOs in the next two weeks. Among the biggest are casino operator Wynn Macau, which is aiming to reap 12.6 billion dollars.
Bank of China fell 3.2 percent to 4.29 dollars after picking up 17.5 percent since September 1, while ICBC was down 2.3 percent at 6.02 after a 6.5 percent in the same period.
Macau casino operators made big advances due to Wynn Macau's large IPO.
SJM surged 5.1 percent to 4.52 dollars.
SYDNEY: Down 0.34 percent. The S&P/ASX200 fell 15.8 points to 4,677.4.
IG Markets research analyst Ben Potter said lower commodity prices pulled resources and banks could not find traction.
BHP Billiton dropped 62 cents to 38.08 dollars and Rio Tinto eased 31 cents to 60.69.
ANZ was down three cents at 23.15, National Australia Bank shed 32 cents to 29.54 and Westpac weakened three cents to 24.88.
Qantas was steady at 2.78 despite chairman Leigh Clifford's comment in the airline's annual report that the outlook for the global aviation industry remained uncertain.
SHANGHAI: Up 0.15 percent. The Shanghai Composite Index, which covers both A and B shares, rose 4.34 points to 2,967.01.
The market was weighed most of the day by news that the first 10 firms to list on a long-awaited Nasdaq-style new board will take subscriptions for their initial public offerings on Friday -- earlier than expected.
But a rally by consumer stocks ahead of the week-long National Day holiday kicked the index into positive territory in the last half hour.
"Consumer stocks will continue to attract interest as China enters Golden Week in October, which usually has higher sales than other months," Jacky Zhang, an analyst at Capital Securities said.
China's National Day holiday runs from October 1 to October 8.
No launch date has officially been set for the second board.
Shanghai Bailian Group Co, the listed unit of China's biggest retailer, jumped 6.73 percent to 14.91 yuan on expectations the National Day holidays will boost spending.
Metallurgical Corp of China made a strong debut Monday. Its shares ended at 6.94 yuan, up 28.04 percent from its initial public offering price of 5.42 yuan but off a high of 7.50.
SEOUL: Down 0.25 percent. The KOSPI lost 4.21 points at 1,695.50.
"Investors also remained cautious and will likely remain cautious until they get clues for an exit strategy from the (US) Federal Reserve meeting and G20 summit this week," he said.
Samsung Electronics fell 0.99 percent to 798,000 won and Hynix Semiconductor rose 5.2 percent to 21,450 won.
Most banks and automakers fell on profit-taking. Hyundai Motor dropped 1.9 percent to 106,500 won and Woori Financial Group lost 0.6 percent to 16,850.
POSCO rose 0.98 percent to 516,000 won.
TAIPEI: Down 0.32 percent. The weighted index fell 24.09 points to 7,502.46.
The market opened flat and consolidated throughout the trade with many investors taking to the sidelines on fears that a possible major correction would send share prices into a tailspin, dealers said.
Financials saw heavy profit-taking after it was overvalued to some extent, dealers said.
Cathay Financial fell 1.85 percent to 53.20 dollars and Chinatrust Financial shed 1.16 percent to 21.25.
Taiwan Semiconductor Manufacturing Co closed down 0.64 percent at 62.30.
Notebook computer maker Acer gained 1.13 percent to 80.90.
BANGKOK: Flat. The Stock Exchange of Thailand was down 0.51 points or 0.07 percent at 713.16.
Hong Kong lost 0.70 percent, Sydney 0.34 percent, Seoul 0.25 percent and Taipei 0.32 percent. However, Shanghai edged up 0.15 percent.
Dealers will also be looking at the outcome of a US Federal Reserve meeting that will decide on whether to raise rates and give its forecast for the world's biggest economy.
Tokyo, Singapore, Manila, Kuala Lumpur, Jakarta and Mumbai were all closed for public holidays.
HONG KONG: Down 0.70 percent. The Hang Seng Index finished 150.60 points lower at 21,472.85.
Analysts said they expect a slew of initial public offerings to lend support to Hong Kong shares but said they will lead to liquidity fears.
At least 10 firms are set to raise more than 48 billion Hong Kong dollars from IPOs in the next two weeks. Among the biggest are casino operator Wynn Macau, which is aiming to reap 12.6 billion dollars.
Bank of China fell 3.2 percent to 4.29 dollars after picking up 17.5 percent since September 1, while ICBC was down 2.3 percent at 6.02 after a 6.5 percent in the same period.
Macau casino operators made big advances due to Wynn Macau's large IPO.
SJM surged 5.1 percent to 4.52 dollars.
SYDNEY: Down 0.34 percent. The S&P/ASX200 fell 15.8 points to 4,677.4.
IG Markets research analyst Ben Potter said lower commodity prices pulled resources and banks could not find traction.
BHP Billiton dropped 62 cents to 38.08 dollars and Rio Tinto eased 31 cents to 60.69.
ANZ was down three cents at 23.15, National Australia Bank shed 32 cents to 29.54 and Westpac weakened three cents to 24.88.
Qantas was steady at 2.78 despite chairman Leigh Clifford's comment in the airline's annual report that the outlook for the global aviation industry remained uncertain.
SHANGHAI: Up 0.15 percent. The Shanghai Composite Index, which covers both A and B shares, rose 4.34 points to 2,967.01.
The market was weighed most of the day by news that the first 10 firms to list on a long-awaited Nasdaq-style new board will take subscriptions for their initial public offerings on Friday -- earlier than expected.
But a rally by consumer stocks ahead of the week-long National Day holiday kicked the index into positive territory in the last half hour.
"Consumer stocks will continue to attract interest as China enters Golden Week in October, which usually has higher sales than other months," Jacky Zhang, an analyst at Capital Securities said.
China's National Day holiday runs from October 1 to October 8.
No launch date has officially been set for the second board.
Shanghai Bailian Group Co, the listed unit of China's biggest retailer, jumped 6.73 percent to 14.91 yuan on expectations the National Day holidays will boost spending.
Metallurgical Corp of China made a strong debut Monday. Its shares ended at 6.94 yuan, up 28.04 percent from its initial public offering price of 5.42 yuan but off a high of 7.50.
SEOUL: Down 0.25 percent. The KOSPI lost 4.21 points at 1,695.50.
"Investors also remained cautious and will likely remain cautious until they get clues for an exit strategy from the (US) Federal Reserve meeting and G20 summit this week," he said.
Samsung Electronics fell 0.99 percent to 798,000 won and Hynix Semiconductor rose 5.2 percent to 21,450 won.
Most banks and automakers fell on profit-taking. Hyundai Motor dropped 1.9 percent to 106,500 won and Woori Financial Group lost 0.6 percent to 16,850.
POSCO rose 0.98 percent to 516,000 won.
TAIPEI: Down 0.32 percent. The weighted index fell 24.09 points to 7,502.46.
The market opened flat and consolidated throughout the trade with many investors taking to the sidelines on fears that a possible major correction would send share prices into a tailspin, dealers said.
Financials saw heavy profit-taking after it was overvalued to some extent, dealers said.
Cathay Financial fell 1.85 percent to 53.20 dollars and Chinatrust Financial shed 1.16 percent to 21.25.
Taiwan Semiconductor Manufacturing Co closed down 0.64 percent at 62.30.
Notebook computer maker Acer gained 1.13 percent to 80.90.
BANGKOK: Flat. The Stock Exchange of Thailand was down 0.51 points or 0.07 percent at 713.16.
WELLINGTON: Flat. The NZX-50 fell 0.81 points or 0.03 percent to 3,155.65.
Freightways gained four cents to 3.24 dollars.
"It will eventually help the building industry, and the carpet industry in time."
Fletcher Building, now New Zealand's biggest listed company, rose three cents to 8.35 dollars and Auckland Airport added seven cents to 1.92.
Telecom fell four cents to 2.63 dollars and Contact Energy dropped seven cents to 5.91
EDS to buy RelQ for $40 million
Consulting major Electronic Data Systems (EDS) has finalised a $40 million deal to acquire Bangalore-based RelQ Software, which
specialises in software testing, validation, verification and quality assurance.
RelQ has 800 people and posted revenues of $22 million last fiscal. It is expected to record a revenue of $30 million in 2006-07.
RelQ will help the $21-billion EDS, which focusses on consulting, application management, maintenance, re-engineering, migration, technical support and testing, to ramp up its testing practice in India. EDS has over 17,000 employees here across varied verticals.
"Recently, a high-level team from EDS visited RelQ to conclude the deal and an official announcement is expected early next week," said a source. RelQ president Prakash Mutalik said: "It's only speculation and we would not like to comment."
Responding to an email sent by TOI, Bob Brand, global head (PR) of EDS said, "EDS does not comment on rumour and speculation regarding mergers and acquisitions."
RelQ is said to have been asking for a price of $60 million for many months, but EDS was willing to pay $40 million. One major reason for RelQ's recent climbdown could be its losing part of lucrative business with Vodafone
specialises in software testing, validation, verification and quality assurance.
RelQ has 800 people and posted revenues of $22 million last fiscal. It is expected to record a revenue of $30 million in 2006-07.
RelQ will help the $21-billion EDS, which focusses on consulting, application management, maintenance, re-engineering, migration, technical support and testing, to ramp up its testing practice in India. EDS has over 17,000 employees here across varied verticals.
"Recently, a high-level team from EDS visited RelQ to conclude the deal and an official announcement is expected early next week," said a source. RelQ president Prakash Mutalik said: "It's only speculation and we would not like to comment."
Responding to an email sent by TOI, Bob Brand, global head (PR) of EDS said, "EDS does not comment on rumour and speculation regarding mergers and acquisitions."
RelQ is said to have been asking for a price of $60 million for many months, but EDS was willing to pay $40 million. One major reason for RelQ's recent climbdown could be its losing part of lucrative business with Vodafone
High forex reserves can worsen recession
When the bubbles finally burst, US households, corporations and financiers found themselves in dire straits. Many financial giants were rescued by the government. Meanwhile households, sobered by the turn of events, started saving 4% of disposable income, up from zero. More saving meant less spending, and made the recession deep and sharp.
Most Asians are smugly blaming US imprudence and loose financial regulation for the crisis, while portraying themselves as innocent victims. Yet, they must share the guilt too. US profligacy did not arise in a vacuum. It arose in part because Asian insistence on high forex reserves meant that they poured dollars into the US to buy US securities. This flood of dollars from Asia drove down US interest rates, making it very attractive to borrow. That spurred the borrowing spree, and the accompanying bubbles.
Historically, rich countries had surplus savings, manifested in a trade surplus. Poor countries lacked savings, manifested in trade deficits, with the deficit being plugged by an inflow of dollars from rich to poor countries. For the world as a whole, current account surpluses and deficits of countries must necessarily balance. Historically, the surpluses of rich countries were offset by the deficits of poor ones.
But after the Asian financial crisis, something strange happened. Asian countries, above all China, began generating huge savings surpluses, manifested in huge current account surpluses. Many used undervalued exchange rates to artificially create trade surpluses, which were then invested in US treasuries (that is what foreign exchange reserves are).
However, poor Asians could not run huge surpluses unless others were willing to run huge deficits. Remarkably, the rich US began to do so. This arose partly from the sophistication of its financial system, which found many ways - too many, in fact - of converting the flood of money from Asia into a borrowing and spending spree. This sharp rise in US spending boosted the global economy, and created the record global GDP growth in 2003-08. US demand sucked in huge quantities of manufactures and services from Asia, above all from China. Asian manufacturing sucked in huge quantities of commodities from Africa and Latin America, raising incomes there too.
Alas, this boom was based on huge global imbalances that had to be corrected at some point. No country, not even the rich US, could keep running gargantuan trade deficits forever, to offset the surpluses of Asia. US asset bubbles burst, the boom ended, and US spending and imports plummeted.
Ending the consequent recession means reducing global imbalances to manageable proportions. Americans will have to save more, spend less and export more. Asian countries, especially China, will have to consume more, save less, and export less. This re-balancing will restore global balance, and enable global growth to rise sustainably again.
However, such re-balancing means that Asian countries must stop piling up ever-rising forex reserves (and trade surpluses). Such reserves represent excessive saving, excessive exports and insufficient imports. Excess forex reserves have provided apparent safety to Asian countries in a recessionary crisis, yet are also a cause of that very crisis.
What will happen if Asians insist on trying to keep savings and forex reserves high? Well, if Asians keep savings high and Americans and Europeans do so too, then world demand will collapse and the recession will become a Depression. Asians must recognise that high forex reserves serve as a safety cushion only up to a point, and beyond that exacerbate global imbalances that threaten disaster. Saving too much can be as harmful as saving too little. Unless Asian countries recognize this and go slow on future reserve accumulation, the recession may become worse than anyone dares imagine today.
Most Asians are smugly blaming US imprudence and loose financial regulation for the crisis, while portraying themselves as innocent victims. Yet, they must share the guilt too. US profligacy did not arise in a vacuum. It arose in part because Asian insistence on high forex reserves meant that they poured dollars into the US to buy US securities. This flood of dollars from Asia drove down US interest rates, making it very attractive to borrow. That spurred the borrowing spree, and the accompanying bubbles.
Historically, rich countries had surplus savings, manifested in a trade surplus. Poor countries lacked savings, manifested in trade deficits, with the deficit being plugged by an inflow of dollars from rich to poor countries. For the world as a whole, current account surpluses and deficits of countries must necessarily balance. Historically, the surpluses of rich countries were offset by the deficits of poor ones.
But after the Asian financial crisis, something strange happened. Asian countries, above all China, began generating huge savings surpluses, manifested in huge current account surpluses. Many used undervalued exchange rates to artificially create trade surpluses, which were then invested in US treasuries (that is what foreign exchange reserves are).
However, poor Asians could not run huge surpluses unless others were willing to run huge deficits. Remarkably, the rich US began to do so. This arose partly from the sophistication of its financial system, which found many ways - too many, in fact - of converting the flood of money from Asia into a borrowing and spending spree. This sharp rise in US spending boosted the global economy, and created the record global GDP growth in 2003-08. US demand sucked in huge quantities of manufactures and services from Asia, above all from China. Asian manufacturing sucked in huge quantities of commodities from Africa and Latin America, raising incomes there too.
Alas, this boom was based on huge global imbalances that had to be corrected at some point. No country, not even the rich US, could keep running gargantuan trade deficits forever, to offset the surpluses of Asia. US asset bubbles burst, the boom ended, and US spending and imports plummeted.
Ending the consequent recession means reducing global imbalances to manageable proportions. Americans will have to save more, spend less and export more. Asian countries, especially China, will have to consume more, save less, and export less. This re-balancing will restore global balance, and enable global growth to rise sustainably again.
However, such re-balancing means that Asian countries must stop piling up ever-rising forex reserves (and trade surpluses). Such reserves represent excessive saving, excessive exports and insufficient imports. Excess forex reserves have provided apparent safety to Asian countries in a recessionary crisis, yet are also a cause of that very crisis.
What will happen if Asians insist on trying to keep savings and forex reserves high? Well, if Asians keep savings high and Americans and Europeans do so too, then world demand will collapse and the recession will become a Depression. Asians must recognise that high forex reserves serve as a safety cushion only up to a point, and beyond that exacerbate global imbalances that threaten disaster. Saving too much can be as harmful as saving too little. Unless Asian countries recognize this and go slow on future reserve accumulation, the recession may become worse than anyone dares imagine today.
Rupee down 5 paise at 46.73 a dollar in opening trade
The Indian rupee on Friday depreciated marginally by 5 paise to 46.73 against the US dollar in opening trade largely on fears of free capital outflows by foreign funds as market may open weak in line with bearish trend in Asian equity markets.
Dollar's gains against other Asian currencies also put pressure on the rupee.
At the Interbank Foreign Exchange (Forex) market, the domestic unit traded 5 paise down at 46.73 a dollar. The rupee ended 48 paise lower at 46.68/69 against the dollar in the previous session after the Sensex fell by 213.13 points.
Forex dealers said fears of more capital outflows by foreign funds as market is expected to open lower in tandem with other Asian markets that were trading in negative zone and dollar's gains versus other Asian units mainly put pressure on the Indian rupee.
Dollar's gains against other Asian currencies also put pressure on the rupee.
At the Interbank Foreign Exchange (Forex) market, the domestic unit traded 5 paise down at 46.73 a dollar. The rupee ended 48 paise lower at 46.68/69 against the dollar in the previous session after the Sensex fell by 213.13 points.
Forex dealers said fears of more capital outflows by foreign funds as market is expected to open lower in tandem with other Asian markets that were trading in negative zone and dollar's gains versus other Asian units mainly put pressure on the Indian rupee.
Why is trading closed at stock exchanges during sun outage
Every year before the spring equinox and after the autumn equinox, the National Stock Exchange experiences a sun outage for a period of around 15 days each.
During these times, the VSATs do not receive the signal and the markets are closed for around 45 minutes around 11 am. The NSE extends the trading hours from 3.30 pm to 4.15 pm on these days to compensate for the loss in trading time for investors.
During these times, the VSATs do not receive the signal and the markets are closed for around 45 minutes around 11 am. The NSE extends the trading hours from 3.30 pm to 4.15 pm on these days to compensate for the loss in trading time for investors.
14 charged in Wall Street insider-trading probe
Besides hedge fund managers, lawyers and corporate insiders, the newly charged persons included former employee of Moody's Investor Service Deep Shah who has been charged with conspiracy and securities fraud, the FBI said in a statement.
Of the 14, eight were arrested on Thursday while a ninth was being sought. Five other defendants had already been charged and have pleaded guilty in federal court in New York to insider trading crimes.
Of the 14, eight were arrested on Thursday while a ninth was being sought. Five other defendants had already been charged and have pleaded guilty in federal court in New York to insider trading crimes.
Atheros Communications Inc executive Ali Hariri has been charged with passing on confidential information to a hedge fund manager Ali Far who has pleaded guilty of fraud and is now reportedly cooperating with the investigators.
"People will probably ask just how pervasive is insider trading these days? Is this just the tip of the iceberg? We aim to find out," said Preet Bharara, the US attorney for the southern district of New York.
RBI guidelines financing margin trading
reserve bank of india on saturday said banks should maintain a minimum margin of 40 per cent on funds lent while extending finance to stock brokers for margin trading. the banks should put in place appropriate systems for monitoring the margin (40 per cent) and if the stockbroker/client fails to meet the margin calls, the lending bank should liquidate the collateral/shares purchased immediately and adjust the loans, rbi said in its circular to all commercial banks here on saturday. earlier on september 18, the rbi-sebi technical committee decided to permit banks to extend finance to stock brokers for margin trading within the overall ceiling of 5 per cent prescribed for exposure of banks to capital market. the committee has said banks may provide finance to brokers for margin trading in actively trading scrips forming part of the nifty and the sensex. rbi in its revised guidelines for bank financing of equities and investment in shares has asked the bank boards to come out with necessary safeguards to ensure that no "nexus" develops between the inter-connected stock broking entities/stock brokers and bank in respect of margin trading.
US stocks fall after sell-off in Asia
Major US indexes lost about 1 percent Monday after China's main index plunged 6.7 percent, adding to a nearly 3 percent drop on Friday. The selloff in Chinese shares has been fed by concerns over a tightening in bank lending that could hurt the country's economy. That in turn has weighed on markets around the globe this month.
Japan's Nikkei stock average fell 0.4 percent after the country's opposition party came to power in a landslide victory. European markets were also lower.
There was little U.S. economic news expected Monday, but key readings come later this week on manufacturing and employment in August that have the ability to either sustain or upset the market's massive six-month rally.
After rising more than 45 percent from 12-year lows in March, the Dow Jones industrial average stands about 500 points away from 10,000. Investors have grown increasingly worried that the market may have gotten too far ahead of the economy. Without evidence of actual economic growth, analysts have warned that the market's rally could fizzle in the coming weeks, especially as traders head into September, historically a rough month for the stock market.
"There's enough jitteriness to set the stage for a decline," said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors. "The economic numbers could neutralize the nervousness, could put portfolio managers' worries to rest."
Two big deals between The Walt Disney Co. and Marvel Entertainment Inc. and oilfield services companies Baker Hughes Inc. and BJ Services Co. did little to support the market.
In early trading, the Dow Jones industrial average fell 82.83, or 0.9 percent, to 9,461.37. The Standard & Poor's 500 index fell 11.71, or 1.1 percent, to 1,017.22, while the Nasdaq composite index fell 26.81, or 1.3 percent, to 2,001.96.
Japan's Nikkei stock average fell 0.4 percent after the country's opposition party came to power in a landslide victory. European markets were also lower.
There was little U.S. economic news expected Monday, but key readings come later this week on manufacturing and employment in August that have the ability to either sustain or upset the market's massive six-month rally.
After rising more than 45 percent from 12-year lows in March, the Dow Jones industrial average stands about 500 points away from 10,000. Investors have grown increasingly worried that the market may have gotten too far ahead of the economy. Without evidence of actual economic growth, analysts have warned that the market's rally could fizzle in the coming weeks, especially as traders head into September, historically a rough month for the stock market.
"There's enough jitteriness to set the stage for a decline," said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors. "The economic numbers could neutralize the nervousness, could put portfolio managers' worries to rest."
Two big deals between The Walt Disney Co. and Marvel Entertainment Inc. and oilfield services companies Baker Hughes Inc. and BJ Services Co. did little to support the market.
In early trading, the Dow Jones industrial average fell 82.83, or 0.9 percent, to 9,461.37. The Standard & Poor's 500 index fell 11.71, or 1.1 percent, to 1,017.22, while the Nasdaq composite index fell 26.81, or 1.3 percent, to 2,001.96.
About eight stocks fell for every one that rose on the New York Stock Exchange, where volume came to 207.2 million shares, compared with 215.6 million at the same time on Friday.
In other trading, the Russell 2000 index of smaller companies fell 9.58, or 1.7 percent, to 570.28.
Germany's DAX index and France's CAC-40 were down 0.8 percent in afternoon trading. The London Stock Exchange was closed for a public holiday.
Bond prices mostly rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.44 percent from 3.45 percent late Friday.
Two big acquisitions totaling close to $10 billion did little to excite investors Monday. Dealmaking and companies' willingness to part with cash or take on debt, is typically seen as a sign of confidence in the economy.
Walt Disney said it plans to buy Marvel Entertainment for $4 billion in cash and stock.
Disney shares slid 45 cents to $26.39, while Marvel shares jumped more than 26 percent, or $10.20, to $48.85. Earlier Monday, Baker Hughes said it will buy BJ Services in a cash-and-stock deal valued at $5.5 billion.
BJ Services shares shot up more than 7 percent, adding $1.10 to $16.53. Baker Hughes shares fell $2.94, or 7.7 percent, to $35.15.
Despite Monday's pullback, stocks are on track to have their best August since 2000. Most of the gains were made earlier this month as investors cheered improvements in consumer confidence and an upbeat assessment of the economy from Federal Reserve Chairman Ben Bernanke.
Last week, the major indexes all rose less than 0.5 percent amid light trading and little news.
Trading is expected to be relatively light this week as well, with many traders taking vacations. Light volume can skew the market's movements. Still, there are a number of important readings on the economy that could sway the market one way or the other.
On Tuesday, the Institute for Supply Management will issue its assessment of the manufacturing industry during August. Economists are expecting ISM's manufacturing index to come in at 50.1, up from 48.9 in July. A reading above 50 would indicate growth in manufacturing, something that hasn't happened since January 2008.
The most important piece of data this week is the government's monthly jobs report on Friday. Economists are expecting another 220,000 jobs were lost, down from 247,000 in July. Last month's report showed an unexpected dip in the unemployment rate and investors are anxious to see if the rate continues to fall.
As unemployment spiked this year, Americans who lost their jobs
Police bust forex fraud by firm using public deposits
a Tamil daily and his son for alllegedly mobilising over Rs.50 crore in deposits from nearly 5,000 people promising unbelievably high returns.
According to the police, Kathiraan, senior reporter in a leading Tamil daily, and his 27-year-old son, Mohan Raj, besides a Chennai-based woman, Kamalavalli, floated
the Paazee Forex Trading Co. besides a few other firms, over a year ago and solicited public deposits, promising staggeringly high dividends. For instance, for a Rs 50,000 deposit, they offered a tempting amount of Rs 140,944 as returns in eight months.
At the time of making the deposits, the company would give post-dated cheques towards what they called 'divident amount' as well as for the deposit amount. For a deposit of Rs one lakh, the offer was Rs 2.80 lakh inclusive of dividends. And for a Rs five lakh deposit, the promise was Rs 14.91 lakh in 13 months. The company is suspected to have used the deposit amounts to make hawala transactions.
Lured by the festival season offers, at least 5,000 depositors swarmed the company's premises near the Pushpa Theatre in Tirupur with their hard-earned money.
"We estimate at least Rs 50 crore may have been deposited by about 5,000 people," the Tirupur SP, Dr N Kannan, told TOI. The crime branch police, which got wind of the fraud, launched a probe into the financial transactions of the company. As the police stepped up investigation, the company's directors, including the journalist, went absconding on Thursday evening. "We have registered a case of fraud against the three directors of the company," the SP said.
Cases have been registered under Section 420 (cheating) of the IPC, and provisions of the Prize, Chits and Money Circulation Schemes (Banning) Act, 1978, as the company had allegedly violated the Reserve Bank of India rules in securing public deposits and investing in hawala funds, police said.
Sensex down 70 pts in early trade on Asian cues
The Sensex, which had lost 51.87 points in yesterday's choppy trade, moved further down by 70.68 points to 16,928.10 in early trade.
The wide-based National Stock Exchange index Nifty also drifted by 18.65 points to 5,036.05.
Brokers said, besides continued profit booking by funds and retail investors, weak trends at other Asian bourses, which were down up to 1.5 per cent in early trade today, put pressure on the sentiments here.
Major losers were ICICI Bank, State Bank of India, HDFC Bank, DLF LTd, Larsen and Toubro, Bharti Airtel and Jaiprakash Associates on continued profit-taking.
However, Reliance Industries, Reliance Capital, Tata Steel and Sterlite Industries were in better shape on selective buying by funds.
The wide-based National Stock Exchange index Nifty also drifted by 18.65 points to 5,036.05.
Brokers said, besides continued profit booking by funds and retail investors, weak trends at other Asian bourses, which were down up to 1.5 per cent in early trade today, put pressure on the sentiments here.
Major losers were ICICI Bank, State Bank of India, HDFC Bank, DLF LTd, Larsen and Toubro, Bharti Airtel and Jaiprakash Associates on continued profit-taking.
However, Reliance Industries, Reliance Capital, Tata Steel and Sterlite Industries were in better shape on selective buying by funds.
Autopilot Robot in Forex Trading Review
First and Foremost, any company claiming an overnight millionaire scenario will most likely to be a con act. We are talking about Forex market here where anything can happen at any given time. Predicting an unpredictable market is an understatement. The Market consist of millions of probability that makes everything impossible possible. So what can these robots do for you?
They can just aid you in minimizing the risk thus you will gain profit at the end of the day.
You cannot always look on your past for it will not trigger your future success. An autopilot trading system has no memory of occurrence at all. The past and the present are not relative to the future in a Forex Market. See the back of your newly purchased Forex Robot software, what does the disclaimer tells you. It does not guarantee profits but purely of giving you training on sharpening your trading skills.
You might wonder why the write ups and other marketing tools these creators or inventors uses claims outright profits in promoting the product. It is all part of the risk since you will be signing on the terms of agreement that upon purchase of these robots, guarantee was never from their part. It is you who purchase it is also you who will take the risk. So to avoid these scenarios, be assertive in talking to the sales representatives specially online where transactions can happen in an instant. Be vigilant on the features and specifications of the software. You need to know its limitation and usage.
To sum it up, a fortune to your neighbor will never be you fortune in any given time. Knowing someone who is successful using these robots does not mean success on your part also. Make sure you know everything about the product upon purchasing. Look for other resources rather than the internet wherein some right ups will give you false hope. Read newspapers, magazine reviews of a reputable company, the news in television. Though everything shall be faster online, risk is all there is.
They can just aid you in minimizing the risk thus you will gain profit at the end of the day.
You cannot always look on your past for it will not trigger your future success. An autopilot trading system has no memory of occurrence at all. The past and the present are not relative to the future in a Forex Market. See the back of your newly purchased Forex Robot software, what does the disclaimer tells you. It does not guarantee profits but purely of giving you training on sharpening your trading skills.
You might wonder why the write ups and other marketing tools these creators or inventors uses claims outright profits in promoting the product. It is all part of the risk since you will be signing on the terms of agreement that upon purchase of these robots, guarantee was never from their part. It is you who purchase it is also you who will take the risk. So to avoid these scenarios, be assertive in talking to the sales representatives specially online where transactions can happen in an instant. Be vigilant on the features and specifications of the software. You need to know its limitation and usage.
To sum it up, a fortune to your neighbor will never be you fortune in any given time. Knowing someone who is successful using these robots does not mean success on your part also. Make sure you know everything about the product upon purchasing. Look for other resources rather than the internet wherein some right ups will give you false hope. Read newspapers, magazine reviews of a reputable company, the news in television. Though everything shall be faster online, risk is all there is.
Easy Forex Trading Software
Forex is definitely unique when it comes to online trading. Its perfect for the type of traders that are looking to make nice gains from there PC. Currency trading is a constantly changing market that can sometimes be predictable , giving traders the option to get in and get out with huge gains in a matter of a few minutes. But most Forex traders that are new to this type of market arent sure of when to "pull the trigger", so to say. Many have left it up to new easy Forex software to help them. One of the newest and highest rated forex software is call ed FAP Turbo. It has been tested for over 6 years before it hit the market.
Turbo is considered easy forex trading software because the user simply installs the forex software and lets the 'Forex Robot' do all the work. With much real money testing, the FAP turbo robot is prepared and programmed to make split decisions based on years of information analysis. The easy forex software is built with an algorithym that changes with the market in a very unique way that most easy forex software is not equipped to perform.
One of the most well known and liked features of FAP Turbo is its ability to double any original investment with in 1 month of installation. The preffered method of most forex robots cam about through fake accounts that never used real money, called back testing. That type easy forex software worked great during simulations, but once it was sold to real Forex traders and used on the real market it simply did not perform, leaving many discouraged. Which left easy Forex software with a poor reputation.
Turbo is considered easy forex trading software because the user simply installs the forex software and lets the 'Forex Robot' do all the work. With much real money testing, the FAP turbo robot is prepared and programmed to make split decisions based on years of information analysis. The easy forex software is built with an algorithym that changes with the market in a very unique way that most easy forex software is not equipped to perform.
One of the most well known and liked features of FAP Turbo is its ability to double any original investment with in 1 month of installation. The preffered method of most forex robots cam about through fake accounts that never used real money, called back testing. That type easy forex software worked great during simulations, but once it was sold to real Forex traders and used on the real market it simply did not perform, leaving many discouraged. Which left easy Forex software with a poor reputation.
Become A Currency Trader
Anyone can become a currency trader from home and you don't need to work hard or have a college education and here we will give you a story which will inspire you and show you that the route to Forex trading success is open to you.
Richard Dennis was a well known trader who decided to treat a group of novices to trade to show that anyone could learn to win with the right mindset and education. This group was ordinary people - a clerk, a boy out of high school, an auditor and a security guard, so regular people. He then taught them to trade in 2 weeks, gave them a system and told them to trade and he waited for the results which proved his point, that anyone could learn to trade:
- group made several hundred million dollars, in just 4 years and achieved outstanding success. The rules they used are public information now and free online and if you look at them, you will see the system was simple ( all the best systems are) and all the traders remarked how easy the system was to learn - but the hard part they found was adopting the right mindset to apply it with discipline.
The problem most traders have is not related to learning a system but getting the right mindset to make it win. To make a system win, need to trade with discipline and take losses and keep them small For example, the turtle system had far more losers than winners but by keeping losses small and running the big trends, the system made outstanding gains long term.- system if you look at it, had rigid money management rules and there hard to follow with discipline but you can see that if you do adopt the right mindset and have the discipline to cut your losses and have the courage to run your profits, you can make a lot of money over the longer term .
Forex trading is a learned skill and anyone can learn a system, the easy part of Fore trading and while it takes focus to adopt the right mindset it can be don and if you trade a solid system with discipline, you can make a huge income - it really is that simple.
Become A Currency Trader
Anyone can become a currency trader from home and you don't need to work hard or have a college education and here we will give you a story which will inspire you and show you that the route to Forex trading success is open to you.
Richard Dennis was a well known trader who decided to treat a group of novices to trade to show that anyone could learn to win with the right mindset and education. This group was ordinary people - a clerk, a boy out of high school, an auditor and a security guard, so regular people. He then taught them to trade in 2 weeks, gave them a system and told them to trade and he waited for the results which proved his point, that anyone could learn to trade:
The group made several hundred million dollars, in just 4 years and achieved outstanding success. The rules they used are public information now and free online and if you look at them, you will see the system was simple ( all the best systems are) and all the traders remarked how easy the system was to learn - but the hard part they found was adopting the right mindset to apply it with discipline.
The problem most traders have is not related to learning a system but getting the right mindset to make it win. To make a system win, need to trade with discipline and take losses and keep them small For example, the turtle system had far more losers than winners but by keeping losses small and running the big trends, the system made outstanding gains long term.
The system if you look at it, had rigid money management rules and there hard to follow with discipline but you can see that if you do adopt the right mindset and have the discipline to cut your losses and have the courage to run your profits, you can make a lot of money over the longer term
Forex trading is a learned skill and anyone can learn a system, the easy part of Forex trading and while it takes focus to adopt the right mindset it can be don and if you trade a solid system with discipline, you can make a huge income - it really is that simple.
Can You Make Money Online Trading Forex?
The forex market is filled with scam offers and pie in the sky promises. On the other hand, it is the largest, most liquid market that trades twenty four hours a day. So how to find your way through the maze of offers that are out there, well here are four steps to becoming a successful trader.
Becoming a successful Forex trader basically comes down to four things:
1) Learning about the markets and your appitite for risk
How the markets work, what moves them, etc is a simple matter as these markets are not that complicated. Determining how well you are suited to trading is a difficult process however. Finding out how you react to stress and perform when real money is on the line can be a life long process
2) Finding and learning a system that fits your personality and life style
There are as many different systems as there are traders, many have been proven over time, so really the only question is which one suits me.I know many will dispute this point, however it really is not as complicated as some try to make it. Most of those making it hard are really just trying to sell you something. There are many free systems that once learned and traded can make you wealthy
3) Testing that system until you have an edge.
Testing is the heart of becoming a good trader. Most people don't do this. If you test something until you can prove and edge, no matter how small it may seem, you just need to trade it over and over to make money.
4) Trading that system exactly how you tested it, until you are wealthy.
Many traders are always looking for that magic system that will make money fast. The secret to wealth is to stick to the system you have tested and proved and do it until you acumulate wealth. Not chase the latest trading software or system.
When you are ready to trade this market, keep these four simple steps in mind and then do not let anything stand in your way of becoming the trader you want to be.
Becoming a successful Forex trader basically comes down to four things:
1) Learning about the markets and your appitite for risk
How the markets work, what moves them, etc is a simple matter as these markets are not that complicated. Determining how well you are suited to trading is a difficult process however. Finding out how you react to stress and perform when real money is on the line can be a life long process
2) Finding and learning a system that fits your personality and life style
There are as many different systems as there are traders, many have been proven over time, so really the only question is which one suits me.I know many will dispute this point, however it really is not as complicated as some try to make it. Most of those making it hard are really just trying to sell you something. There are many free systems that once learned and traded can make you wealthy
3) Testing that system until you have an edge.
Testing is the heart of becoming a good trader. Most people don't do this. If you test something until you can prove and edge, no matter how small it may seem, you just need to trade it over and over to make money.
4) Trading that system exactly how you tested it, until you are wealthy.
Many traders are always looking for that magic system that will make money fast. The secret to wealth is to stick to the system you have tested and proved and do it until you acumulate wealth. Not chase the latest trading software or system.
When you are ready to trade this market, keep these four simple steps in mind and then do not let anything stand in your way of becoming the trader you want to be.