Reliance Life Insurance Project Essay

Many people take to trading in the mistaken belief that it is the simplest way of making money. Far from it, I believe it is the easiest way of losing money. There is an old Wall Street adage, that â€Å"the easiest way of making a small fortune in the markets is having a large fortune†. This game is by no means for the faint hearted. And, this battle is not won or lost during trading hours but before the markets open but through a disciplined approach to trading. 1. A successful trader has a trading plan and does his homework diligently Winning traders diligently maintain charts and keep aside some hours for market analysis. Every evening a winning trader updates his notebook and writes his strategy for the next day. Winning traders have a sense of the market’s main trend. They identify the strongest sectors of the market and then the strongest stocks in those sectors. They know the level they are going to enter at and approximate targets for the anticipated move. For example, I am willing to hold till the market is acting right. Once the market is unable to hold certain levels and breaks crucial supports, I book profits. Again, this depends on the type of market I am dealing with. In a strong up trend, I want the market to throw me out of a profitable trade. In a mild up trend, I am a little more cautious and try to book profits at the first sign of weakness. In a choppy market, not only do I trade the lightest, I book profits while the market is still moving in my direction. Good technical traders do not worry or debate about the news flow; they go by what the market is doing. 2. A successful trader avoids overtrading Overtrading is the single biggest malaise of most traders. A disciplined trader is always ready to trade light when the market turns choppy and even not trade if there are no trades on the horizon. For example, I trade full steam only when I see a trending market and reduce my trading stakes when I am not confident of the expected move. I reduce my trade even more if the market is stuck in a choppy mode with very small swings. A disciplined trader knows when to build positions and step on the gas and when to trade light and he can only make this assessment after he is clear about his analysis of the market and has a trading plan at the beginning of every trading day. 3. A successful trader does not get unnerved by losses A winning trader is always cautious; he knows each trade is just another trade, so he always uses money management techniques. He never over leverages and always has set-ups and rules which he follows religiously. He takes losses in his stride and tries to understand why the market moved against him. Often you get important trading lessons from your losses. 4. A successful trader tries to capture the large market moves Novice traders often book profits too quickly because they want to enjoy the winning feeling. Sometimes even on the media one hears things like, â€Å"You never lose your shirt booking profits.† I believe novice traders actually lose their account equity quickly because they do not book their losses quickly enough. Knowledgeable traders on the other hand, will also lose their trading equity — though slowly — if they are satisfied in booking small profits all the time. By doing that the only person who can grow rich is your broker. And this does happen because, inevitably, you will have periods of drawdowns when you are not in sync with the market. You can never cover a 15-20 per cent drawdown if you keep booking small profits. The best you will do is be at breakeven at the end of the day, which is not the goal of successful trading. A trading account that is not growing is not sustainable. Thus when you believe you have entered into a large move, you need to ride it out till the market stops acting right. Traders with a lot of knowledge of technical analysis, but little experience, often get into the quagmire of following very small targets, believing the market to be overbought at every small rise — and uniformly so in all markets. Such traders are unable to make money because they are too smart for their own good. They forget to see the phase of the market. Not only do these traders book profits early, sometimes they even take short positions believing that a correction is â€Å"due†. Markets do not generally correct when corrections are â€Å"due†. The best policy is to use a trailing stop loss and let the market run when it wants to run. The disciplined trader understands this and keeps stop losses wide enough so that he is balanced between staying in the move as well as protecting his equity. Capturing a few large moves every year is what really makes worthwhile trading profits. 5. A successful trader always keeps learning You cannot learn trading in a day or even a few weeks, sometimes not even in months. Successful traders keep reading all the new research on technical analysis they can get their hands on. They also read a number of books every month about techniques, about trading psychology and about other successful traders and how they manage their accounts. I often like to think about traders as jehadis; unless there is a fire in the belly, unless there is a strong will and commitment to win, it is impossible to win consistently in the market. 6. A successful trader always tries to make some money with less risky strategies as well Futures trading, for example, is a very risky business. The best of chartists and the best of traders sometimes fail. Sure, it gives the highest returns but these may not be consistent — and the drawdowns can be large. Traders should always remember that no matter how good your analysis is, sometimes the market is not willing to oblige. In these times the 4-5 per cent that can be earned in covered calls or futures and cash arbitrage comes in very handy. It improves the long term sustainability of a trader and keeps your profit register ringing. Traders must learn to live with lower risk and lower return at certain times in the market, in order to protect and enlarge their capital. Disciplined traders have reasonable risk and return expectations and are open to using less risky and less exciting strategies of making money, which helps them tide over rough periods in the markets. 7. A successful trader treats trading as a business and keeps a positive attitude Trading can be an expensive adventure sport. It should be treated as a business and should be very profit oriented. Successful traders review their performance at regular intervals and try to identify causes of both superior and inferior performance. The focus should be on consistent profits rather than erratic large profits and losses. Also, trading performance should not be made a judgement on an individual; rather, it should be considered a consequence of right or wrong actions. Disciplined traders are able to identify when they are out of sync with the market and need to reduce position size, or keep away altogether. Successful trading is like dancing in rhythm with the market. Unsuccessful traders often cut down on all other expenses but refuse to see what might be wrong with their trading methods. Denial is a costly attitude in trading. If you see that a particular trade is not working the way you had expected, reduce or eliminate your positions and see what is going on. Most disciplined and successful traders are very humble. Humility is a virtue that traders should learn on their own, else the market makes sure that they do. Ego and an â€Å"I can do no wrong† attitude in good times can lead to severe drawdowns in the long term. Also, bad days in trading should be accepted as cheerfully as the good ones. So disciplined traders maintain composure whether they have made a profit or not on a particular day and avoid mood swings. A good way to do this is to also participate in activities other than trading and let the mind rest so that it is fresh for the next trading day. 8. A successful trader never blames the market Disciplined traders do not blame the market, the government, the companies or anyone else, conveniently excluding themselves, for their losses. The market gives ample opportunities to traders to make money. It is only the trader’s fault if he fails to recognise them. Also, the market has various phases. It is overbought sometimes and oversold at other times. It is trending some of the time and choppy at others. It is for a trader to take maximum advantage of favourable market conditions and keep away from unfavourable ones. With the help of derivatives, it is now possible to make some money in all kinds of markets. So the trader needs to look for opportunities all the time. To my mind, the important keys to making long term money in trading are: * Keeping losses small. Remember all losses start small * Ride as many big moves as possible * Avoid overtrading. * Never try to impose your will on the market It is impossible to practice all of the above perfectly. However, if you can practice all of the above with some degree of success, improvement in trading performance can be dramatic. 9. A disciplined trader keeps a cushion If new traders are lucky to come into a market during a roaring bull phase, they sometimes think that the market is the best place to put all one’s money. But successful and seasoned traders know that if the market starts acting differently in the future, which it surely will, profits will stop pouring in and there might even be periods of losses. So do not commit more than a certain amount to the market at any given point of time. Take profits from your broker whenever you have them in your trading account and stow them away in a separate account. I say this because the market is like a deep and big well. No matter how much money you put in it, it can all vanish. So by having an account where you accumulate profits during good times, it helps you when markets turn unfavourable. This also makes drawdowns less stressful as you have the cushion of previously earned profits. Trading is about walking a tightrope most times. Make sure you have enough cushion if you fall. 10. A successful trader knows there is no Holy Grail in the market There is no magical key to the Indian or any other stock market. If there were, investment banks that spend billions of dollars on research would snap it up. Investing software and trading books by themselves can’t make you enormously wealthy. They can only give you tools and skills that you can learn to apply. And, finally, there is no free lunch; every trading penny has to be earned. I would recommend that each trader identify his own style, his own patterns, his own horizon and the set-ups that he is most comfortable with and practice them to perfection. You need only to be able to trade very few patterns to make consistent profits in the market. No gizmos can make a difference to your trading. There are no signals that are always 100 per cent correct, so stop looking for them. Focus, instead, on percentage trades, trying to catch large moves and keeping your methodology simple. What needs constant improving are discipline and your trading psychology. At end of the day, money is not made by how complicated-looking your analysis is but whether it gets you in the right trade at the right time. Over-analysis can, in fact, lead to paralysis and that is death for a trader. If you can’t pull the trigger at the right time, then all your analysis and knowledge is a waste.

Feminist View on Society

Feminist views on society; Feminists believe that society is male dominated (patriarchal). Feminists want women and men to have equal rights and powers as there is inequality between the two sexes. They look at society on a macro scale so the ideas are generalised to the whole of society. Feminists also believe that society is based on disagreement and conflict between the sexes as women believe they have been disadvantaged in society.Liberal feminists believe that men and women are becoming more equal in society, and that the inequality between men and women was caused due to sexist laws and the differences in socialisation. They believe that in order abolish feminism people need to be brought up differently and all sexist laws need to be gotten rid of. Marxist feminists believe that women are still unequal in society and that women are there to benefit capitalism by being unpaid housewives. They look on the family in a negative and critical way as they feel this is what caused thei r oppression along with capitalism.As they gave up work to take care of children and had housework responsibilities, thus becoming dependent on their husbands for money and everything else. Marxist feminists believe that in order for there to be equality between the sexes capitalism needs to be abolished and replaced with a communist society. Radical feminists also believe that men and women are still unequal in society and that men benefit more from family life. They believe that they are exploited by men and the patriarchal society. Some radical feminists believe that the solution is separation.Feminism does have some criticism’s for example they tend to overlook the fact that the general position of women in society has changed over time and this can only be explained in terms of economic and political changes in society. They also fail to understand that fundamentally society is unequal in its economic and social structure, and that equal opportunity is a fairly meaningle ss concept as society is divided by class and economic exploitation. Women as well as working class men are at an economic disadvantage.

What Makes Cotsco the Best Place to Work and Why Research Paper

What Makes Cotsco the Best Place to Work and Why - Research Paper Example Costco operates in an industry which is highly dominated by other players. The sales breakdown structure as per global industry has been represented in figure 1. On the basis of figure 1 it can be denoted that Costco occupies a certain portion of overall sales margin but maximum sales percentage is acquired by Walmart. Global competition is one of the driving forces responsible for shaping organizational environment. Sam’s Club of Walmart effectively competes with Costco. Porter’s five forces model is able to denote certain driving forces prevalent in the industry. Threat of substitutes is strong in this particular industry due to more product features, comparable product line, low prices, low switching costs, etc. There is intense competition prevalent in global retail or wholesale industry but Costco is able to survive through offering better quality products at low prices, addressing growing customer demand, etc. The company is engaged into offering best value and this weakens bargaining power of customers. There is low threat of new entrants in this specific industry because of lump sum investment, well established players and narrow margin for product differentiation. Suppliers usually impose lower bargaining power due to wide array of suppliers and high requirement of bulk quantities. Market saturation is another driving force that is shaping external environment of Costco. The company needs to continuously develop innovative strategies in order to remain competitive in the market place. Increasing costs is also considered to be a driving force since it is enabling substitutes to gain market presence. Costco encompasses an employee base of 195,000. These employees are not citizens of United States but belong to different country and culture. This aspect of workforce diversity is also a driving force since it influences the company to undertake decision suitable for all

Change Management - one best way Assignment Example | Topics and Well Written Essays - 1000 words

Change Management - one best way - Assignment Example This acknowledgment was established to have basis prevalent ambiguity all through the segment activating an idea that change was required. (Seger, 2005) The centre of such change on directorial background materialises to have been influenced by facts of the noticeable achievement of other society organisation labours in the UK and US. An administrator asserts: The spotlight on society organisation shows to have been emphasises by the determined service of young UK skilled executives who are observed as both well-informed of recent UK leisure practice and thus important causes of contemporary information. These new work force appear to have established new thoughts into the business and have dynamically inscribed the merits of society administration-something the senior directors carefully planned a narrative cause of prospective gung ho benefit. (Olson, 2001) The NewTech change scheme involved a continuing twelve-month programme planned to change not only the procedures of the corporation but also the fundamental thinking of directorial affiliates. In this regard, it shows that the top administration of Isis Hotel Luxor maintained the progress of change centred on imposing purchaser dominion and escalating stages of purchaser direction. In spite of concerning considerable assets and time outlay, the pr... At the end of 1997 the proprietors of the corporation determined what they experienced required to be completed and applied the change over the subsequent year, as promptly as probable. The change programme did not have any stages as such, even though six months into the scheme an augmented stress was situated on altering lower-level employee viewpoint and behaviours. Early systems and structural changes were hurried through as easily as was probable. (Collins, 2005) The original changes leaned to centre on artefact changes whilst the same time as afterward changes were cantered on leisure hotel measures and humanising purchase-orientation. Dazzling a strong interior artistic centre, the four proprietors of the corporation powerfully supposed that the society change was required but that Isis Hotel Luxor should rely on internal work force and proficiency rather than exterior managers. Although some changes were derivative from other associations, top directors have always had the con viction that no outer help was essential for their execution. Instead, top administration disagreed that the comprehensive corporeal changes could be handled by top employees at the same time as leisure hotel directors would be capable to manipulate the behaviours and viewpoints of lower employees. Impacts of Change Research of interrogate facts divulge that the NewTech changed was apparent to have impacted on recital results, behavioural stakeholder interface as well as spiralling some usual accessible views. However, some inadvertent penalties of these changes also emerge to have distorted the views of Top executives. In conditions of recital results, Top personnel thought that the NewTech scheme had an

Canadian Breast Cancer Foundation Essay Example | Topics and Well Written Essays - 1000 words

Canadian Breast Cancer Foundation - Essay Example The most sensitive criteria are the clauses that provide for the protection of the interest of established corporate sponsors against new ones that have the interest to be partners. A $50,000 annual fee that a company pays as a license fee to the organization to act as a solid pledge for the involved company that has expressed interest for partnership is a criterion that CBCF strongly considers. The interested companies have to subscribe to the breast cancer cause and express a brand image that strongly supports the organization’s brand awareness as well. These criteria only to mention a few in general opinion need review in reference to amending specific clauses that will increase funding and still protect the main objective of the organization which is solely tied down to fighting breast cancer. Â  The sensitivity of the relationship between established corporate sponsors and the new entrants or interested parties should be expounded on to give a broad approach to the organization criteria and guideline principles. CBCF should be able to protect the interest of the established long-term corporate sponsors against the new entrants so as to avoid conflicts and increase the pipeline for funding from these interested parties. This is the most agreeable clause the organization has come up with in guiding the relationship between the corporate sponsors. However, the annual license fee charged by the organization as a form of a pledge for the corporate sponsors should be reviewed and the fee brought down a bit to encourage maximum participation by upcoming companies that are willing to take part in the fighting breast cancer initiative that is somewhat restricted to big established corporations.

Terminal Design Concept Essay Example | Topics and Well Written Essays - 250 words

Terminal Design Concept - Essay Example d namely; pier satellite design, pier finger design, remote satellite design, transporter design, semicircular (curvilinear) design and linear design. Having analyzed the concepts mentioned above, the most appropriate and efficient design was a hybrid of linear and pier satellite design configurations. By description, the linear design concept involves a configuration with one building hosting both the ticketing and waiting area especially for small aircraft airports. The pier satellite terminal includes the same design as linear only that it involves more concourses connected to this main building thus creating several satellite structures. Considerations of best practices in modern airports influenced the hybrid selection decision. The need for short walking distances, for example, for passengers was assured by incorporating linear design to counter the excessive walking distances created by the rotunda-like pier satellite concept. A linear design concept guarantees a precise orientation where aircrafts park nose-in with respect to the terminal building. However, the orientation occasioned by the rotunda-like layout in the pier satellite design configuration is not a straight forward one. Simple construction of the main linear terminal building and the piers influenced the selection of the hybrid design configuration. The layout is simple and enables passengers to park their vehicles even right in front of the terminals before they enter through for boarding the aircraft. Adequate curb length is made possible by the pier satellite system since it is dependent on dwell time called so to mean the time has taken to remove passengers and their baggage. Thanks to the piers for decentralizing the clearing area and the no hub volume type of airport under consideration. In this case, there was enough area for terminal curb for through vehicles, baggage, and the passengers’ pickup. Small baggage system costs using decentralized system helps achieve pier satellite

Secondary research Paper Example | Topics and Well Written Essays - 1000 words

Secondary - Research Paper Example In the conventional sense and wisdom, a worker or a person is considered to be a part time worker if he or she work for less than the stipulated thirty five hours in a week (Connolly & Gregory, 2008). In principle, in the recent past, the number of students in the United Kingdom who have taken up part time jobs has increased. To begin with, the students who are inclined towards taking the part time jobs are skewed differently in terms of their demographics and other social inclinations or information. Students who come from relatively poor backgrounds are most likely to take jobs part time so as to cover for the economic and financial difficulties. For instance, the students who depend on government loans and aid to cover their tuition fees are most likely to take up jobs so as to balance and afford their social costs and livelihoods. In this instance and line of thought, the students from poorer backgrounds such as Africa and Asia have been prone and skewed towards applying for jobs as part timers (Bennett, Williams, Page, Hood & Woollard, 2004). In the same respect and line of thought, people of relatively lesser status in the societal hegemony and hierarchy structure also take up part time jobs. It is conventional knowledge and common truth that people of â€Å"notable class and stature,† are more economically endowed and empowered in their lives as compared to others. For instance, the child of a president in one country as a University student in the United Kingdom would have a social more reputable name to be considered and revered in the society. Thus, it is very unlikely that such a student or person would take a part time job as an office assistant, or bar attendant while doing his or her studies. It could be because the son or daughter of the president would not perceive or view such a job to be of his or her equal measure. Thus,