Business/ Affiliates/ Education and Motivational Word,

Friday, August 28, 2009

Trade Adjustment: 2009-08-27 14:56

Good afternoon! After a few days of waiting, it looks like everything is falling into place for my short USDCAD trade today as US GDP sent currencies all over the place! With the trading week quickly approaching I have decided to take some profits off of the table and adjust my stops.

Close half postition at market 1.0850. Adjust stop on remaining position to break even at 1.0930 to create a risk free trade.

US GDP was the Forex news of the day as it came in at -1.0% versus the forecast number of -1.4%. Initial jobless claims and continuing claims both came in better than expected as well. Traders initially bought some Greenbacks, but it turned into a US Dollar selloff as the European trading session ended.

There's much more data on the Forex calendar on Friday to push the markets around, so I'm just going to sit back and relax on my risk free trade until the end of the week. Stay tuned!
od afternoon Forex friends! As I said after last week's trade, I would look to short USDCAD once again if the opportunity presented itself. It looks like that opportunity may come in the next couple of trading sessions as it looks like the current Loonie rally has run out of steam for now.

I have the four hour chart up, and stochastics are indicating the downtrend is oversold and are now turning higher out of oversold territory. Does this mean we will see a tracement? You can never know for sure, but if it does I used the Fibonacci tool to pinpoint possible resistance area. The 38% - 61% retracement sits right around that broken trendline, so I like the odds of potential resistance there and a swing move back to the downside.

Fundamentally, it's the same old story of high US deficits and weak economics slowing down any prospects of US Dollar strength, but we have seen improvements on economic data recently - most notably on housing data. On the other side of the border, Canada posted another month of retail sales gains showing that they may be on the road to recovery as well. Now, while we are seeing improving data from both sides, I am still more bias towards Loonie strength because of their tie to oil prices. While demand will always fluctuate for the "black gold," it makes sense that oil prices could remain strong in the short term as the world continues to need the energy and products that oil brings. Oil has recently clocked in highs around $75, but after a few days of going no where, we are seeing weakness today as oil trades currently trades around $71.50 a barrel at the NYMEX.

So, it may be time for a bit of a pullback after recent strength in both the Loonie and Oil, and if I do see it, I will scale into a short position in between 38% - 61% Fibonacci area. My stop will be one 130 pips (daily Average True Range), and I will target previous support areas. Here's what I am going to do:

Short USDCAD at 1.0930, stop at 1.1060, pt1 at 1.0800, pt2 at 1.0650

Remember to never risk more than 1% of a trading account on any single trade. Adjust position sizes accordingly.

It looks like the Greenback is rallying strong at the moment, so I may get to see my orders triggered soon than I thought.... stay tuned!

posted by Arch Bishop, Dr J. O Faola @ 5:29 PM

Thursday, July 30, 2009

The Piano’s Ancestors

The harp and the lyre were among the earliest hand-plucked stringed instruments. (Genesis 4:21) Later came the dulcimer, whose player hit the strings with small hammers. In Europe during the middle Ages, instruments were developed with a keyboard for plucking or striking the strings, the most popular being the clavichord was shaped like a rectangular box with a lid, and its strings were struck from below by little metal strips called tangents. It played expressively, but its tiny voice was easily drowned out by other instruments and buy singers. The bigger harpsichord, looking rather like the modern grand piano, long strings that were plucked by quills or plectra. It produce a strong resonant tone but without any variation of volume.
By 1700, with new dramatic, expressive music being composed, musicians wanted a keyboard instrument that played sensitively, as the clavichord did, but with the power of harpsichord.

The Piano Arrives
The Italian instrument maker Bartolomeo Cristofori combined the basic design of the harpsichord; using small leather- topped wooden hammers to strike the strings. He called his invention the gravicembalo col piano e forte (harpsichord with soft and loud), shortened to the pianoforte, or piano. Here was a keyboard instrument that had a fuller, richer tone and could be played softer or louder.
Sadly, cristofori did not live to see the success of his new instrument. Because few people sowed interest in it, he went back to making harpsichords. Almost 30 year after Cristofori’s first piano, German organ builder Gottfried Silbermann took another look at the design and started making his own pianos. Craftsmen in Germany and Austria continued to experiment, conxentrating on building a smaller, lighter model called a square piano.
In England another group of piano makers were at work. They had emigrated from German in the late 1750’s. One of them, Johannes Zumpe, developed a version of the square piano that sold well. Sebastien Erard of France and other makers in Europe and America added further improvements. Astute Scottish cabinetmaker John Broadwood perceived that the piano would be ideal for the young ladies of the newly affluent middle class. Soon his company was busy turning out large numbers of both square and grand pianos.
The next challenge was to design a compact piano with the superior sound of a grand. So piano were built upward and not outward, becoming ever larger. The vertical strings of one Broadwood model rose 2.7 meters above the keyboard; but being distinctly top-heavy, it proved too dangerous to play! Another upright called the giraffe model was really a grand piano set on end with its tail in the air. John Isaac Hawkins, an Englishman, designed the firs successful upright in 1800 by placing the lower end of the strings near floor level. This eventually led to the phasing out of the square piano.

posted by Arch Bishop, Dr J. O Faola @ 1:25 PM

Rheumatoid Arthritis (RA)

Rheumatoid arthritis is an autoimmune disease that causes chronic inflammation of the joints. Rheumatoid arthritis can also cause inflammation of the tissue around the joints, as well as in other organs in the body. Autoimmune diseases are illnesses that occur when the body tissues are mistakenly attacked by its own immune system. The immune system is a complex organization of cells and antibodies designed normally to "seek and destroy" invaders of the body, particularly infections. Patients with autoimmune diseases have antibodies in their blood that target their own body tissues, where they can be associated with inflammation. Because it can affect multiple other organs of the body, rheumatoid arthritis is referred to as a systemic illness and is sometimes called rheumatoid disease. Typically, rheumatoid arthritis is a progressive illness that has the potential to cause joint destruction and functional disability.
While rheumatoid arthritis is a chronic illness, meaning it can last for years, patients may experience long periods without symptoms.

posted by Arch Bishop, Dr J. O Faola @ 1:20 PM

Nigeria’s Chance of Catching Up With The Globalised Society is Being Hampered By The Persistent Strikes In The Country.

AS nations of the world continue to strive to stabilize their economies, the effect of industrial action of any kind negates the aim of the evolving Information Society (IS).

Though IS may mean different things to different people, the generic understanding connotes that it is a society in which all citizens of the world are recognized as human with access to use of information resources for sustainable, economic and social development. This is especially so, now the world has been reduced to a global village through deployment of Information and Communications Technology (ICT).

Like the Secretary General of the International Telecommunication Union (ITU), Mr. Yoshio Utsumi, who is the chief host of the World Summit of the Information Society (WSIS), noted recently, though technologies through ICT could bring human beings together, to share veritable information to better their lives, it would not bring food on our tables, but humans could.

Governance should, therefore, encourage good living both economically and socially of their citizens to bear on decisions and actions taken by leaders of the world culminating into good governance and transparency.

This brings to mind the issue of industrial actions in a third world country like Nigeria at this time in point.

Strike as it is also known is defined as a period of time when a group of workers deliberately stop working because of a disagreement about pay, working conditions, according to the new edition of Longman Dictionary of Contemporary English.

Strike in Nigeria dates back to the pre-independence era when Nigerian workers led by Pa Michael Imodu, went on strike to protest poor treatment by the then colonial masters. This has since become a frequent occurrence especially in this dispensation.

The impact of strikes to a third world nation like Nigeria, would not only devalue her economic system, but widen the digital divide which Information Society attempts to bridge by encouraging ICT deployment and recognition of equal rights as enshrined in almost every constitution of most nations in the world today and Human Rights Declaration of the United Nations.

To some industry analysts, strike does not just occur, it takes literarily poor leadership of governments in military and civilian dictatorships settings to occur.

This is because, dictators are known to always have their way no matter whose goose is gored. This was one of the reasons why the United Nations encouraged democratic governments all over the world.

posted by Arch Bishop, Dr J. O Faola @ 12:59 PM

Saturday, February 28, 2009

Choosing The Right Business Type

Creating a new online business is not unlike creating a new stand alone e-commerce business. When you do this you will need to create a business entity. You will need to decide what type of business structure or entity you are going to create. This is important and depends on the overall goal of the company. Tthe four initial options are listed below along with a brief description to help you decide which type to choose. It is important that you understand that this is in no way legal advice and we suggest you contact a small business lawyer to help you finalize your decision.
Sole Proprietor: A Sole Proprietor business entity is just what it sounds like: there is a single owner/operator. This person will be responsible for all of the functions of the business. You can operate as a Sole Proprietor under your own Social Security or a separate employee identification number (EIN). Either way this is registered just like any other business. The downside to the sole proprietor business entity is that it does not offer any substantial tax benefits and you are held personally liable for anything your business does. That means that if your business gets sued they can attempt to take personal property or funds.
Partnership: A partnership is similar to the sole proprietor business entity with one exception -- there is more than one person operating the business. This is good in that it allows for two or more decision makers, however it has severe drawbacks. Just as in a sole proprietor business, the owners are held liable for the actions of the company. This means both of the owners are liable even if one of the owners was at fault. Tthis is not necessarily the best business structure for a high risk company.
Limited Liability Corporations (LLC): An LLC is a sound business structure for small businesses. It offers protection against lawsuits by separating the business and the person. If the business is sued, personal possessions or funds taken can not be taken.
To do this, funds cannot co-mingle. However, that is a small price to pay for added security. You can pay yourself a salary and take dividends as needed however they must be proportionately reasonable to the amount of money the company is taking in. This can be operated by one or more people but the owner does pay self-employment tax.
Corporation: There are two types of corporations, an "S" corporation and a "C" corporation. The s corporation has been around for quite a while. The rules and the laws regarding an s corporation are very clear and refined. The s corporation has more tax advantages for smaller businesses than the c corporation. A c corporation is for large scale publicly traded companies. For the most part an LLC will suffice for a startup business. The advantage to starting as an s corporation is that you can easily move from an s corporation to a c corporation with little to no difficulty. To move from an LLC to a c corporation you have to first dissolve the LLC. The move from s to c corporation is fairly easy.
Two government websites will help you through this process. They are the SBA Website and the IRS Website. You should visit these pages and browse around to get comfortable with them. We also have a training video that will help you navigate the SBA website to apply for a small business loan and a video for the IRS website to help you apply for an EIN. Both of these videos are very helpful. Just click on the link below and you will be taken directly to the video.

posted by Arch Bishop, Dr J. O Faola @ 2:13 PM 0 comments

Business Licensing

To operate your business, you will need to be licensed. This can be completed at your local courthouse and is nothing more than a nominal fee and a couple of forms. The process may be different in every town, however they are all designed to ensure that the area you plan on conducting the business is zoned for that. You can also get signed up for certain programs such as the Chamber of Commerce. After registering you will be given your ID numbers that are used for business identification and tax purposes.

posted by Arch Bishop, Dr J. O Faola @ 2:10 PM 0 comments

Business Financing

Even though you are starting an online business that could, in theory, start very easily with little to no money at all, some people find they need some startup capital. In this case you may want to consider the information below:
The initial financing is obviously a very important piece to the puzzle. It's always a good idea to build the business on your own funds. You can do this by living on a lean budget. Cut personal costs as much as possible. Try and save up enough to keep the business going at least long enough to start showing you a return on your investment.
Obviously, this is not an option for everyone so you may have to look into other funding options. Other options include but are not limited to:
SBA: The Small Business Administration is a good place to go for funding. They provide government backed loans specifically designed for small businesses.
Credit Cards: Many businesses have been built on personal and business credit cards. This can be a slippery road if you do not manage the funds carefully. Use your best judgment when dealing with credit cards.
Terms: Many of your suppliers may offer you a credit line or terms for services or products. An example of this would be an office supply warehouse that bills you for the products you buy and allows you 30 days to pay the balance.
Sweat Equity: Trade services to help get whatever it is you need.
Family and Friends: The people you have strong personal relationships with may not have any problem loaning you money. They usually have a good idea about how trustworthy you are and may be more inclined to loan you the money than a bank would.
There is one final school of thought when it comes to funding for a new business and that is to start small. By starting small, you can manage funding on your own and as the company and the profits grow, increase the size of your business. This eliminates the need of having to pay back anyone as you start making money.

Have a Blessed Day

posted by Arch Bishop, Dr J. O Faola @ 2:01 PM 0 comments

About Me

Name: Arch Bishop, Dr J. O Faola
Home: Shibiri Ekunpa Oto-Awori LGDA, Lagos, Nigeria
About Me: His Grace Prof. Prince J. Faola (JP)., He is the Senior Pastor of the Shield Of Faith Gospel Mission Int. and the founder of the “Joel International Ministerial and Theological Academy”. He is an international Bible teacher and a passionate author and bible expositor, he is a patron and adviser for Christ Believers Ministry. He is a member of BSN and IMCGBN, the President of JECAL CLUB, The founder of the PARLEY CLUB INT, Chairman of I.M.A.T.E.B. Chairman Board of Regents Christ’s College of Theology, a well known Radio Pastor and most sought after aggressive motivational speaker.
See my complete profile