One For All and All FOREX!

The Forex Market is so huge that it literally encompasses most of the human race within it. This article will explore the different individuals, businesses and institutions who take part in the Forex Market. Let’s start with the institutions first.

Central Banks

Central banks take part in the Forex Market primarily for the following two reasons:
1) Fix monetary policies
2) Regulate interest rates

In short, this would affect the supply and demand of their national currency in the financial system. At times, some central banks are known to “intervene” by buying or selling their own currency. An example is Japan, when the Bank of Japan intervened in 2005 by selling the Yen. This had the effect of “weakening” their currency, which helps their local exporters. Another recent example is Venezuela, when President Hugo Chavez devalued the Bolivar by 50% in early Jan 2010, also in an attempt to boost exports in a sluggish economy.

Commercial Banks & Hedge Funds

Commercial banks and hedge funds participate in the Forex Market to make money. That is the short answer. In today’s terms, more than 50% of banks’ income is derived from Forex. More so than housing/business loans! I was in a local bank the other day, and I saw a notice that said, “Interest rates for deposits upwards of SGD300,000 is now at 0.4%.” Is that pathetic or what? And that’s for a WHOLE YEAR! I make more than that in ONE TRADE!

Businesses/MNCs

Businesses take part in the Forex Market for a few reasons:

1) Hedge against currency fluctuations

Some businesses are more affected in the changes in Forex rates than others. A prime example would be importer/exporters. Japanese exporters are hurt by a high Yen because their competitive edge is lost when their goods become more expensive to importing nations. To off-set these losses, some Japanese companies actually sell USD/JPY in the Forex Market.

2) Business Costs & Expenses

As an example: A Japanese company based in Singapore would have to pay their overheads/salaries in Singapore Dollars. They also receive revenues in Singapore dollars. At the close of the financial year, the company would repatriate money back to Japan (which would mean converting Singapore dollars to Yen).

On a side-note, do you know that Chrysler, the car company which filed for bankruptcy protection last year, made more money in the Forex Market in 2003 than they did selling cars!

Retail Investors

This is by far, the most interesting group, and the one in which you and I belong to.

Let’s break this group up a little. I’ve identified 3 demographics of retail investors who take part in the Forex Market:

1) 20-35 years old

This group consists of students, young adults and perhaps some married couples. They trade Forex for financial education purposes and to earn a second source of income.

2) 35-50 years old

This group consists of entrepreneurs, married couples, business owners and traders. They trade Forex to have a global view on finance and to diversify their investment portfolio.

3) 50-65 years old

This group consists of housewives and retirees. They trade Forex to pass the time and earn some daily cash income. The “Japanese Housewives”, also known as the “Kimono Traders”, form a significant portion in this group!

Which group do you belong to?

You know what? It really doesn’t matter. The Forex Market is BIG enough for all of us combined! So let’s start this exciting journey today!

It’s one for all and all FOREX!

Why Six Sigma Tools Are Important For All Businesses

First of all, it should be noted that all businesses face problems and challenges from time to time. It does not matter what sector or industry a company is operating in, there will be issues that need to be overcome. Within the Six Sigma Methodology, there is on offer a structured method for tackling almost any problem. Without access to the right information and guidance, a simple problem can end up impacting many employees from many different departments, causing a serious downturn in productivity. 6 Sigma offers solutions and a structure that can reduce disruption considerably.

Diagrams and ideas laid out in these initiatives can help individuals understand the various aspects of business and how a disruption to a single process can have a negative impact on others, resulting in a snowball effect. When an employee is able to see the big picture, bottlenecks and related issues can be overcome with suitable solutions.

Many employees today are unaware of the way that businesses are holistic organizations. Individuals can often be closed-minded and ignorant of how their activities impact on others. With six sigma tools, an employee can come to learn how their job is intrinsically important, and of value to the smooth running of an entire company. This knowledge can help to motivate individuals to develop a better understanding of their role in enhancing profits, and bring about a way of thinking that is positive for all. Six Sigma is very much a process that relies on teamwork. This teamwork must be ingrained within all employees and nurtured for 6 Sigma success!

In these days of intense competition, the latest management and training techniques can make a real difference on the efficiency and smooth running of all companies, no matter what their size. They provide an easy way to improve team building, develop a broader understanding of the running of the company, and create an environment that is conducive to growth and expansion.

Six Sigma tools are actually not that difficult to understand. Most involve the use of models, drawings, statistics, and diagrams that can be interpreted by employees from all backgrounds and education levels. They offer an easy way to bring about a positive change.

If you are not sure how to go about implementing an initiative relating to these type of tools and techniques, there is no shortage of free information available online that you can begin with. It is important to ensure that you involve all your employees in the development of the programs; by doing so, each will understand that they are valued. With time, you will come to see positive differences, and not just in the attitude of individuals, but also in the way that various departments work together to bring about results that benefit the organization as a whole.

To get your company started with a Six Sigma Initiative, research the training and certification options available to you, whether that be online, onsite, or both. There are many different options that should be evaluated based upon budget, space, and employee learning styles. Online Six Sigma Training is usually the most popular choice due to its lower cost and convenience.

Fire Safety Education For Children – 3 Tips To Teach Children About Fire Safety

Educating kids about the importance of fire safety is very important… especially children between the age of 5 – 12. This is because, children around that age range are generally more curious about the things happening around them.

Given their natural rebellious nature and the tendency to try everything the adults are doing, fire safety education for children becomes something that all parents must teach their kids about.

So how do you go about teaching and educating children about fire?

Well, here are some activities you can do with your kids to help them understand and be more aware about the dangers of fire.

1) Plan a field trip – It is always good to organize a field trip to the fire department. This will help the children learn more about fire safety and also help them get more comfortable with the fire fighters.

Because of the experience and the many different stories fire fighters knew about, it further helps to enhance the children’s learning experience. As we all know, children learn best through stories… and who else could be more qualified to tell these stories other than the expert themselves – The fire fighters.

2) Role playing games – Have a family meeting and discuss about what to do during a fire. In this meeting, several guidelines and rules should be laid out.

One such topic that should be discussed is the family fire evacuation drill. Lay down the escape routes and what everyone should do during a house fire.

Once all the family members know what to do during a fire, carry out a mock up fire evacuation drill every 3 months. This will help to instill confidence and cut down any confusion about what to do during a fire.

3) Fire Themed Crafts – Paper crafts such as making fire fighter hats or coloring competition also helps to instill fire fighting awareness into the children.

During the activities, it is also a very good time to let the children know more about the dangers of fire and why they should not play with one.

Once children gets to know about the dangers of fire, they will then avoid playing with fire.