الخميس، 12 سبتمبر 2019

Mugenda: How I landed into forex trading


The need to cope with the rising living standards has led many Kenyans into different creative ways of making an extra coin to take care of their daily life demands.

Mr Paul Mugenda in his mid-20s says he realised upon completing college in 2014 that he needed to multi-task to comfortably sustain himself in the city and find extra money to support his family back home in Muranga County.


He has tried his hands in several businesses and now sits comfortably as the founder of Paris Group, a Nairobi based company, which deals in Insurance, Forex and hospitality products.


He has five employees helping to handle the various products at hand.


SEE ALSO :What you need to know about Forex trading

In an interview, he says he started as a tealeaves vendor in Nairobi’s populous area of Githurai targeting employed people but slowly found himself also selling insurance and trading in forex to supplement his income.



He used to buy butch of tealeaves from his home town of Muranga and sell them in small packets to his clients between 7 pm to 9 pm.



“I chose to operate at night because I targeted employed people and that was the best time to catch up with them at various bus terminus catching bus back home from tedious work,” he says.



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“It doesn’t require a lot of capital to start as a tea vendor. I would buy tea in bulk then repackage it for sale, on a good day I would take home between Sh600 to Sh1000 before my expenses of roughly Sh260.”



After trading for sometimes, Mr Mugenda was convinced that the money earned from the tea business would not cater for his daily needs. Through his networks, he got an opportunity to work for Kenindia and Direct Line Assurance firms as a sales representative.



SEE ALSO :Rid Kenya of unlicensed forex dealers

With a background in actuarial science, he was convinced that he could make a better sales representative and make additional income from the commissions earned from policy sales.



The ability to present himself well and the sales experience from tealeaves sales enabled him to acquire more clients. He has since then expanded his tentacle in the industry to offer cover on fire, life, motor, marine, goods on transit and personal accident insurance



“Starting the insurance hustle was not easy, you need a lot of patience before you start making money, it is a tricky venture for new comers but worth it when you start making money,” he says.



In-between his hustles, Mr Mugenda met a client who introduced him to the world of forex trading, which he says, has become a key source of his income. He has consolidated all his hustles under one group dubbed Paris, which boasts of five employees and runs forex, insurance and hospitality.



Mr Mugenda says that he got interested in forex trading three years ago after an introduction to it by one of his insurance clients.



SEE ALSO :CBK's warning over online forex traders

He started with Sh30, 000 borrowed from the same client. “I invested the money but never made money out of it, I burnt my finger, but that did not take away my determination to succeed in forex trading,” he says.



“What I later realized is that forex trade needs a lot of patience, discipline and lack of greed for one to succeed, a few training by professionals is also important if you want to perfect the trade,” he says.
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6 effective forex risk management tips

Success in the forex trading business depends on the kind of approach you take. Many traders have tried to beat the market by taking the quick approach, but this often fails. The forex market is volatile and a lot of care is needed to succeed. 
Profitability depends on skill, patience and the risk management strategies that a trader has brought on board. There are many strategies you can use to manage the risks in the market. Let us look at the 6 most effective tips do manage your trading expeditions.

Check your risk per trade

It is important to consider the risk per trade before anything else. Many beginners are especially susceptible to trading without keeping track of every trade. Analyzing the risk per trade is important in keeping the risks as low as possible. Experts advise traders to keep their trades at less than 2% of their total account to minimize risk. Doing this would make it both easy to track the risks and also to focus on putting more trades on the market.

Have a constant risk level

Another great way to keep the risks lower while trading is to have the level of risk constant in all trades. This is because the market tends to change very quickly and one bad trade can ruin everything. Beginners often make the mistake of risking more than they can afford, especially when they see some trades going well. A few good trades should not encourage you to take bigger risks. The forex market is unpredictable and winning is never guaranteed. When you have your risk level kept at a constant, you are always sure that you will not lose more than you have never gained.

Manage your leverage

Leverage in the forex market allows traders to open bigger trades than they could have with their own money. Leverage can, however, pose great risks when used without a plan. The forex market is highly liquid and the high levels of leverage reflect this. It is important for you to understand the leverage and what good management techniques exist. Margin trading is commonly used by traders who want to optimize their trading without having high risks associated with leverage. Forex hedging techniques also rely a lot on margin trading. In markets where hedging is allowed, a trader can open a counter-trade when they suspect a bad trade is going to spoil their positions.

Risk money you can afford to lose

Many traders often get it wrong when it comes to investing in the forex market. They do not take into consideration the huge risks that are prevalent in the market. They end up risking too much money and losing it all in the process. You should not invest more money than you can afford to lose. The forex market is akin to gambling and the only way to be sure of not losing everything is by risking what you can afford to lose.

Consider correlated currencies

Forex trading is all about exchanging currency according to the pairs in the market. The market is thus always acting on the basis of twos. Understanding how the correlated currencies work with and against each other is important for risk management. When you understand the correlation between different currencies, you can trade with much more certainty.
Some currency pairs tend to cancel out each other and when you open many trades with such pairs, losing money is inevitable. You should also take note of commodity currencies – which are currencies that are tied to commodity prices.

Establish your risk tolerance levels

Finally, it is important to know what your risk tolerance level is. Depending on the kind of strategy you are taking and the experience you have in the market, you will have a different risk tolerance level. Traders who are willing to lose a lot of money in the trading process can end up learning a lot and gaining profits in the long-run. Those who are experienced are also much more likely to tolerate the risk. The alternate is also true where beginner traders are unlikely to manage their risks properly.
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Govt to soon release norms for offering forex credit to exporters at affordable rates

Expressing concerns over fall in export credit, Commerce and Industry Minister Piyush Goyal on Thursday said the government will soon come out with guidelines on extending foreign exchange credit to exporters at affordable rates. "We are concerned that it (export credit) has fallen, and will come up with the contours of a vibrant programme (to address the issue) soon, which will particularly support micro, small and medium enterprises," Goyal said while addressing the meeting of the Board of Trade in New Delhi.

The programme, more importantly, will make foreign exchange credit available to exporters at competitive rates, he said, adding that the rates were likely to be in the sub-four per cent category. He said the ministry was waiting for Finance Minister Nirmala Sitharaman to take a call on some of the issues on export credit.
The bankers are on board and "...we shall shortly be coming out with the contours that have been finalised between the Reserve Bank of India (RBI), the finance ministry and the commerce ministry," he added.
Export credit disbursement declined 23 per cent in 2018-19 to Rs 9.57 lakh crore from Rs 12.39 lakh crore in 2017-18.
He also said the ministry would notify new anti-dumping rules this month.
Further, the minister urged states to send representatives to the Board of Trade meetings.
The level of participation of states and ministries will determine the cooperation that "we will give" them, he said.
"If both the senior officials and state ministers are not there, it is a matter of serious concern. I may have to talk to the respective chief ministers, he said.
He added that if the ministers of states are busy and don't find time to come for these meetings without due cause known to us in advance, "then if states have any problems, I may find myself busy to respond to those states."
"I hope the message will go to those states who, for the second time, have not attended this meeting," he added.
Similarly, for central ministries, which have a stake in exports, "I will take it seriously if they are not able to come, unless they give a reason well in advance," Goyal reiterated.
Goyal also said that although total exports crossed half-a-trillion-dollar mark at $537 billion in 2018-19, India will have to achieve $1 trillion of exports in the next five years.
He said the ministry will soon come out with a credit scheme for exporters with enhanced insurance cover up to 90 per cent instead of the current 60 per cent.
During the board meeting, the LEADS Index-2019 was released by the minister.
Gujarat topped the chart among states in the logistics sector. It was followed by Punjab and Andhra Pradesh.
Among the hilly eastern states, Tripura is the top performer and, among Union Territories, Chandigarh was selected as the best-performing UT.
The index is an effort by the ministry to establish the base line of performance in the logistics sector based on the perception of users and stakeholders at the state level.
It is not an index of the performance of the state government but may be used to assess the status of logistics efficiency in each state.
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Forex - Sterling Positive as EU Reportedly Willing to Offer Brexit Delay



Investing.com – The pound turned positive against the greenback on Thursday on a report that the European Union is prepared to grant another Brexit extension to the U.K. to prevent the country from leaving the bloc without deal.

Business Insider published news of the potential deal, citing a leaked European Parliament draft resolution.

GBP/USD rose 0.15% to $1.2344, but had traded as high as $1.2368



The resolution suggested that members would back a fresh extension if its purpose would be to "avoid a 'no-deal exit,' to hold a general election or a referendum, to revoke Article 50, or to approve a Withdrawal Agreement."



U.K. Prime Minister Boris Johnson has said several times that he is not willing to ask the EU for a further delay to Brexit, despite U.K. lawmakers passing a law to stop a no-deal Brexit.
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FOREX-Euro waits for ECB as trade thaw spurs yuan rebound

* ECB decision due at 1145 GMT, press conference 1230 GMT
* Trump's delay to scheduled tariff hike boosts markets
* China's offshore yuan gains 0.5%, Aussie hits 6-wk high
* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh (Writes through, adds quotes, details)

By Tommy Wilkes
LONDON, Sept 12 (Reuters) - The euro hovered near $1.10 on Thursday as traders prepared for the European Central Bank to unveil an expected stimulus package, while China's yuan and Australia's dollar rallied on further signs of a thaw in the U.S.-China trade war.
Investors expect a rate cut at Thursday's meeting as the ECB tries to prop up the region's ailing economy. The real uncertainty is whether policymakers restart a quantitative easing (QE) programme after some ECB members expressed doubt in recent weeks about the need to relaunch asset purchases.
Euro/dollar overnight implied volatility has soared to its highest since mid-2018, reflecting investor uncertainty about the impact of the ECB announcement on the single currency.
The ECB decision is scheduled for 1145 GMT, and president Mario Draghi's press conference at 1230 GMT. The meeting is the first in a series of major central bank events, with the Federal Reserve and the Bank of Japan meeting next week.
SEB strategist Jussi Hiljanen said he expected the ECB to cut the deposit rate by 10 basis points from the current level of -0.4%, extend the forward guidance on rates by six months and announce the restart of QE but with monthly purchases lower than the market anticipated.
"Such a package of stimulus measures would be a disappointment for the market, pushing long rates higher and EUR/USD higher and steepening the curve," Hiljanen said.
The common currency has shed 3.4% since June but was 0.2% higher at $1.1028 on Thursday.
Stephen Gallo, European Head of FX Strategy at BMO Capital Markets, said that if the ECB prepares the market for significant rate cuts ahead, "that would be quite dovish, quite bearish" for the euro.


However, he said the reaction would be contained as traders were reluctant to take positions on the dollar before next week's Fed meeting.
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الجمعة، 9 أغسطس 2019

What is Forex (FX)?

Forex (FX) is the marketplace where various national currencies are traded. The forex market is the largest, most liquid market in the world, with trillions of dollars changing hands every day. There is no centralized location, rather the forex market is an electronic network of banks, brokers, institutions, and individual traders (mostly trading through brokers or banks).   
Many entities, from financial institutions to individual investors, have currency needs, and may also speculate on the direction of a particular pair of currencies movement. They post their orders to buy and sell currencies on the network so they can interact with other currency orders from other parties.
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الأحد، 1 يونيو 2014

Selling the property with Commercial Real Estate Agency





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n order to boost property sales, it is important to develop real estate knowledge and experience with the agency. Buyer or seller can talk about property trend, rental, prices and opportunities. The meeting with real estate agent is first identifying goal of client and prospect. Communication skill is an important and critical part when hire and work with real estate agency. Seller will know the agent how to speak advertise property intelligently and answer all question about property market. Good real estate agent can describe essential marketing plan for property advertisement. Usually, before hire real estate agency, seller should do little research about his reputation how long the agency has been working in property industry and how many property transaction has closed and how the response from their past customer. When buyer do research on search engine for property agency to access real estate information, there is real estate information is out of date and overwhelming. Many real estate agencies are using online website, email and social media sites to advertise in marketing property

If you want to rise up sales in property industry, making prospective process is essential and central component in property business. In advertising property, the agent should meet with a lot of people to increase property sales. Getting workable and significant audience will help the agent to improve and grow real estate market and commission opportunity. Real estate business or property industry is profitable business. Many developers are building and selling their property for new customers/clients
For seller, you can hire real estate agency or commercial real estate agency. It is easy way to sell property. When hire this property agent, you will easy get information related to your property and criteria. It is the most popular method to sell property. Once you hire the real estate agency, they will do necessary work and research for your property. Working with real estate agent is legitimate factor to meet transaction process. Seller can sell real estate and property online on the internet. Advertising property online on the internet is the easiest way to sell property. There are plenty of real estate agencies for commercial property available on the internet. There are many property website with commercial reale state listing. Once you get the right real estate agency website, it is time to send all property information, contact detail and price of property
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الخميس، 22 مايو 2014

How to Search and Research in property Business


Real estate business or property industry is profitable business. Many developers are building and selling their property for new customers/clients. For buyer, it is excited challenge to find and buy good property in reasonable prices. In order to get information about property, searching in newspaper and online on the internet is good way to do. There are several methods to find good property, includes

First, you can hire real estate agency or commercial real estate agency. It is easy way to get and find the right property. When hire this property agent, you will easy get information related to your property and criteria. It is the most popular method to search property. Once you hire the real estate agency, they will do necessary work and research for your property. Working with real estate agent is legitimate factor to meet transaction process. Many sellers will not sell their property without real estate agency prospecting

Second, you can search real estate and property online on the internet. Searching property online on the internet is the easiest way to find the right property. There are plenty of real estate agencies for commercial property available on the internet. There are many property website with commercial real estate listing. Once you get the right property website, it is time to explore all property information, contact detail and property work options for your project. You can see the budget, type of property and locality of property. If you want to get better idea in property industry, joining real estate forum is the best way to do

Third, you can see and explore commercial real estate listing in newspaper and online. There are many newspapers and real estate magazine provide commercial real estate listing content. You can see and look for in this section. You might see so many individual houses without real estate agency. They are also seller of property who want to avoid pay some extra charge to real estate broker. This newspapers and magazines are also the right source to buy property without involving real estate brokers/agency

Last, you can go around the city. There are many home sellers who put their advertisement in newspaper, magazines and online website. You can go around the city and find this seller with “For Sale by Owner” sign
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الجمعة، 16 مايو 2014

Hiring Commercial Real Estate Agency for Prospecting Letter


Prospecting new commercial real estate with direct letter is crucial process to achieve business goal in property industry. Many commercial real estate agencies take easy solution to contact their buyer and seller through email. When the real estate agent send prospecting letter via email, it will be seen and read by prospect. The real estate agent send prospecting letter to introduce and promote property to new clients and to be made in follow up. In order to make high prospecting letter, here are some tips to follow

First, sending s simple prospecting letter is usually work well. Simple prospecting letter is consists of 3 paragraph and easy to read. It is important to make prospective letter in short paragraph and to the point in order to attract a lot of clients. It is advisable to use dot point in order to get simple statement related to property marketing. Not all people will read and reply the prospective letter, so it is very crucial to make the most attractive of prospective letter

Second, sending regular letter with right targeted audience. The agent can send various letter in order to qualified clients within 90 days. This method will build good relevance and communication between clients and agency. Third, every follow up call should be related with prospective letter. If clients do not follow up the prospective letter, it is waste investment. It is simple fact in property business. Fourth, sending prospective letter to the right client. Knowing the right targeted audience and addressing the right people is good way to send prospective letter correctly. If the agent do not have the right contact information, it is important to check it and do not send again the prospective letter

Last, it is recommended to not send bulk information with prospective letter. Sending the wrong information and message will hit to recycle bin. It is advisable to send business card with prospective letter. It is good way to develop the contact for property marketing effort. Many commercial real estate agencies build good market to share and promote/introduce prospective letter. If seller want to get at least 5 follow up letter, it is advisable to build at least 300 prospects in a month. It is excellent model to build strong prospecting
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الخميس، 15 مايو 2014

What do buyer and seller look for with commercial real estate agency


It is important to meet with customer satisfaction when dealing with commercial real estate agency. Every new reale state agency always makes new prospecting of property as central part in diary process. Personal performance and skill of agency will help seller to advertise and sell their property as well. Most real estate agents are working in struggle in property industry to make advertise and avoid any negative prospecting process. It is very important to not make a mistake in property industry. Reputable commercial real estate agency is usually offer significant reward for their employee that work hard and prospecting for their customer property

If you want to rise up value in property industry, making prospective process is essential and central component in property business. In advertising property, the agent should meet with a lot of people to increase property sales. Getting workable and significant audience will help the agent to improve and grow real estate market and commission opportunity. Every real estate agent is usually modifying their business effort. When buyer or seller meets with real estate agent, here are some things to consider in first meeting with real estate agency

First, buyer and seller should check their clients for property. Understanding property in proper manner will help people to get relevant conversation and property information. Second, people should attend to the meeting on time schedule and turn off the cell phone for while. It is professional action with clients and prospect during meeting season. It is simple to make process in commercial real estate. Every clients/prospective do not need ask marketing material and official testimonial. Making the right impression with leaving business card is excellent way to boost real estate sales or clients in property business

In order to boost property sales, it is important to develop real estate knowledge and experience with the agency. Buyer or seller can talk about property trend, rental, prices and opportunities. The meeting with real estate agent is first identifying goal of client and prospect
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