Foreign Exchange (Forex, FX) trading is an ancient practice that has been around since Biblical Times (John 2:14). In the 1990’s banks developed their own trading platforms and Retailer Forex brokers made internet-based trading platforms for individual traders (yes for me and you). FX is the largest industry with an estimate value of over US$5 trillion being traded daily, the markets are open 24 hours a day for 5 days. Forex trading is the buying and selling of a currency via a platform.
FX market is like an ocean, there are Whales and Tilapia. Whales are big plays called Market Marker (MM). MM are the liquidity providers (organizations with large funds), that is, they are the market movers. MM comprise of Hedge Funds, Central Banks, Commercial Banks, FX Brokers and other large Financial Institutions. Bank of Botswana is an example of a Market Marker. Okay, Kgomotso, now, who is the “Tilapia?” Tilapia is any individual participating in the FX market, this group is called Retail Traders. Retail traders cannot really move the market, is like a tick trying to push a dog.
Is forex trading a scam? Well to me it pays my bills and feed my family. In short, this is a legit and regulated business. If it was a scam will Banks risk your savings money participating in this industry, shocking haa, your money does not seat in your bank account, it is out there making more money for the bank. How do you expect a bank to pay you 3% annual interest of your savings if you just deposited it and stayed there? Heads up, your money makes the US$5 trillion traded in Forex.
So tell me, do you think is a scam…? As any other business, they are Angels and Demons in FX market, retail traders (me and you, if you are a trader) are at risk of being possessed by the demons, as currently there are no regulations regulating the industry in Botswana, but, the Retail Forex Brokers are regulated in the countries they are operating from, so it is necessary to scrutinize the Broker before investing with it. Truth be told, Brokers are not the problem, the problem is with Retail Service Providers.
Brokers! Brokers are firms that provide traders (retail) with access to a platform that allows them to buy and sell currencies. As a retail trader, you must be above 18 years for you to open an account with the broker, the following documents are required to open an account, Passport/Omang, Proof of residence. Brokers provide Real Accounts and Demo Accounts. Demo Accounts are for practice use, this is where you try out your trading strategy. A trading strategy is a set of rules which give you the edge to buy or sell the currency.
Where do you get these strategies? There are free and charged strategies online and there are trainers. It is advisable that as an aspiring trader, you invest on training and also invest your time trading the Demo after completing training (preferably 4 to 6 months on demo trading). After Demo trading you can go to Real Account, this is where now your money is on the line. Did i tell you that the Market Maker and the Brokers are in for your money, oops sorry, yah, you are competing with the whales, is best to learn how they operate.
Did I also tell you retail traders are also regarded as the Less Informed Money, funny right? Less Informed Money (me exclusive) don’t really know how the Inter-Bank Price Delivery Algorithm (IPDA) is delivered, you can ask any self-proclaimed trader what it is, if they fail, look for someone else. For you to be in synch with Smart Money (Market Marker) you need to understand IPDA, there is a filter for you when looking for a trainer.
In the retail world of traders, it is my opinion that there are Informed Retail Traders (IRT) and Uninformed Retail Traders (URT). IRT are those who are privileged enough to learn and study how the Market Maker trade (IPDA). These are traders who took time to search for classified information, who understand the relation between price and time, currency and stocks or treasury notes, seasonal tendency of an asset (currency pair), they understand institutional sponsorship, the understand why the asset price reacts the way it reacts at certain price level.
On the other hand URT, are traders who rely on indicators (mathematical derived tools) and Trendlines which highly subjective and highly dependent on perspective. Don’t get me wrong, these strategies work but to a certain extent, period. Sure most will say trading is all about perspective, and yes at face value it is, but at professional level its perspective deeply rooted on facts and through understanding IPDA.
As in farming there are factors that affect production, I also like farming, back to FX trading, as traders we should understand there are conditions that the Smart Money keep track of, which affect currency movement. Some of the factors include Interest rates, Employment change, Parliamentary Elections, War, Weather, Diseases, Speech (especially if its Jerome Powell or President Trump), Brexit, etc.
This is a cut throat industry, take yourself serious and above it all take your endeavors serious and seek knowledge, this is business for hard workers. Don’t attach value to depreciating possessions (social media trading celeb lifestyle, most are clueless by the way). Forex Trading is the new form of employment, Financial Freedom is not taught in a class, Join me as I will be breaking down the financial markets and unveiling the new way of wealth creation by providing potential financial investments. The real stuff doesn’t allow you time to be flashy because you constantly chasing information. Remember Wealth doesn’t recognize mediocre.
In 2005, the Business & Economic Advisory Council (BEAC) pitched the idea of the establishment of Special Economic Zones (SEZs) to the Mogae Administration.
It took five years before the SEZ policy was formulated, another five years before the relevant law was enacted, and a full three years before the Special Economic Zones Authority (SEZA) became operational.
… courtesy of infiltration stratagem by Jehovah-Enlil’s clan
With the passing of Joshua’s generation, General Atiku, the promised peace and prosperity of a land flowing with milk and honey disappeared, giving way to chaos and confusion.
Maybe Joshua himself was to blame for this shambolic state of affairs. He had failed to mentor a successor in the manner Moses had mentored him. He had left the nation without a central government or a human head of state but as a confederacy of twelve independent tribes without any unifying force except their Anunnaki gods.
If I say the word ‘robot’ to you, I can guess what would immediately spring to mind – a cute little Android or animal-like creature with human or pet animal characteristics and a ‘heart’, that is to say to say a battery, of gold, the sort we’ve all seen in various movies and tv shows. Think R2D2 or 3CPO in Star Wars, Wall-E in the movie of the same name, Sonny in I Robot, loveable rogue Bender in Futurama, Johnny 5 in Short Circuit…
Of course there are the evil ones too, the sort that want to rise up and eliminate us inferior humans – Roy Batty in Blade Runner, Schwarzenegger’s T-800 in The Terminator, Box in Logan’s Run, Police robots in Elysium and Otomo in Robocop.
And that’s to name but a few. As a general rule of thumb, the closer the robot is to human form, the more dangerous it is and of course the ultimate threat in any Sci-Fi movie is that the robots will turn the tables and become the masters, not the mechanical slaves. And whilst we are in reality a long way from robotic domination, there are an increasing number of examples of robotics in the workplace.
ROBOT BLOODHOUNDS Sometimes by the time that one of us smells something the damage has already begun – the smell of burning rubber or even worse, the smell of deadly gas. Thank goodness for a robot capable of quickly detecting and analyzing a smell from our very own footprint.
A*Library Bot The A*Star (Singapore) developed library bot which when books are equipped with RFID location chips, can scan shelves quickly seeking out-of-place titles. It manoeuvres with ease around corners, enhances the sorting and searching of books, and can self-navigate the library facility during non-open hours.
DRUG-COMPOUNDING ROBOT Automated medicine distribution system, connected to the hospital prescription system. It’s goal? To manipulate a large variety of objects (i.e.: drug vials, syringes, and IV bags) normally used in the manual process of drugs compounding to facilitate stronger standardisation, create higher levels of patient safety, and lower the risk of hospital staff exposed to toxic substances.
AUTOMOTIVE INDUSTRY ROBOTS Applications include screw-driving, assembling, painting, trimming/cutting, pouring hazardous substances, labelling, welding, handling, quality control applications as well as tasks that require extreme precision,
AGRICULTURAL ROBOTS Ecrobotix, a Swiss technology firm has a solar-controlled ‘bot that not only can identify weeds but thereafter can treat them. Naio Technologies based in southwestern France has developed a robot with the ability to weed, hoe, and assist during harvesting. Energid Technologies has developed a citrus picking system that retrieves one piece of fruit every 2-3 seconds and Spain-based Agrobot has taken the treachery out of strawberry picking. Meanwhile, Blue River Technology has developed the LettuceBot2 that attaches itself to a tractor to thin out lettuce fields as well as prevent herbicide-resistant weeds. And that’s only scratching the finely-tilled soil.
INDUSTRIAL FLOOR SCRUBBERS The Global Automatic Floor Scrubber Machine boasts a 1.6HP motor that offers 113″ water lift, 180 RPM and a coverage rate of 17,000 sq. ft. per hour
These examples all come from the aptly-named site www.willrobotstakemyjob.com because while these functions are labour-saving and ripe for automation, the increasing use of artificial intelligence in the workplace will undoubtedly lead to increasing reliance on machines and a resulting swathe of human redundancies in a broad spectrum of industries and services.
This process has been greatly boosted by the global pandemic due to a combination of a workforce on furlough, whether by decree or by choice, and the obvious advantages of using virus-free machines – I don’t think computer viruses count! For example, it was suggested recently that their use might have a beneficial effect in care homes for the elderly, solving short staffing issues and cheering up the old folks with the novelty of having their tea, coffee and medicines delivered by glorified model cars. It’s a theory, at any rate.
Already,customers at the South-Korean fast-food chain No Brand Burger can avoid any interaction with a human server during the pandemic. The chain is using robots to take orders, prepare food and bring meals out to diners. Customers order and pay via touchscreen, then their request is sent to the kitchen where a cooking machine heats up the buns and patties. When it’s ready, a robot ‘waiter’ brings out their takeout bag.
‘This is the first time I’ve actually seen such robots, so they are really amazing and fun,’ Shin Hyun Soo, an office worker at No Brand in Seoul for the first time, told the AP.
Human workers add toppings to the burgers and wrap them up in takeout bags before passing them over to yellow-and-black serving robots, which have been compared to Minions.
Also in Korea, the Italian restaurant chain Mad for Garlic is using serving robots even for sit-down customers. Using 3D space mapping and other technology, the electronic ‘waiter,’ known as Aglio Kim, navigates between tables with up to five orders. Mad for Garlic manager Lee Young-ho said kids especially like the robots, which can carry up to 66lbs in their trays.
These catering robots look nothing like their human counterparts – in fact they are nothing more than glorified food trolleys so using our thumb rule from the movies, mankind is safe from imminent takeover but clearly Korean hospitality sector workers’ jobs are not.
And right there is the dichotomy – replacement by stealth. Remote-controlled robotic waiters and waitresses don’t need to be paid, they don’t go on strike and they don’t spread disease so it’s a sure bet their army is already on the march.
But there may be more redundancies on the way as well. Have you noticed how AI designers have an inability to use words of more than one syllable? So ‘robot’ has become ‘bot’ and ‘android’ simply ‘droid? Well, guys, if you continue to build machines ultimately smarter than yourselves you ‘rons may find yourself surplus to requirements too – that’s ‘moron’ to us polysyllabic humans”!