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.
Seventy-seven years ago, on the evening of December 2, 1943, the Germans launched a surprise air raid on allied shipping in the Italian port of Bari, which was then the key supply centre for the British 8th army’s advance in Italy.
The attack was spearheaded by 105 Junkers JU88 bombers under the overall command of the infamous Air Marshal Wolfram von Richthofen (who had initially achieved international notoriety during the Spanish Civil War for his aerial bombardment of Guernica). In a little over an hour the German aircraft succeeded in sinking 28 transport and cargo ships, while further inflicting massive damage to the harbour’s facilities, resulting in the port being effectively put out of action for two months.
Over two thousand ground personnel were killed during the raid, with the release of a secret supply of mustard gas aboard one of the destroyed ships contributing to the death toll, as well as subsequent military and civilian casualties. The extent of the later is a controversy due to the fact that the American and British governments subsequently covered up the presence of the gas for decades.
At least five Batswana were killed and seven critically wounded during the raid, with one of the wounded being miraculously rescued floating unconscious out to sea with a head wound. He had been given up for dead when he returned to his unit fourteen days later. The fatalities and casualties all occurred when the enemy hit an ammunition ship adjacent to where 24 Batswana members of the African Pioneer Corps (APC) 1979 Smoke Company where posted.
Thereafter, the dozen surviving members of the unit distinguished themselves for their efficiency in putting up and maintaining smokescreens in their sector, which was credited with saving additional shipping. For his personal heroism in rallying his men following the initial explosions Company Corporal Chitu Bakombi was awarded the British Empire Medal, while his superior officer, Lieutenant N.F. Moor was later given an M.B.E.
Remember: bricks and cement are used to build a house, but mutual love, respect and companionship are used to build a HOME. And amongst His signs is this: He creates for you mates out of your own kind, so that you may find contentment (Sukoon) with them, and He engenders love and tenderness between you; in this behold, there are signs (messages) indeed for people who reflect and think (Quran 30:21).
This verse talks about contentment; this implies companionship, of their being together, sharing together, supporting one another and creating a home of peace. This verse also talks about love between them; this love is both physical and emotional. For love to exist it must be built on the foundation of a mutually supportive relationship guided by respect and tenderness. As the Quran says; ‘they are like garments for you, and you are garments for them (Quran 2:187)’. That means spouses should provide each other with comfort, intimacy and protection just as clothing protects, warms and dignifies the body.
In Islam marriage is considered an ‘ibaadah’, (an act of pleasing Allah) because it is about a commitment made to each other, that is built on mutual love, interdependence, integrity, trust, respect, companionship and harmony towards each other. It is about building of a home on an Islamic foundation in which peace and tranquillity reigns wherein your offspring are raised in an atmosphere conducive to a moral and upright upbringing so that when we all stand before Him (Allah) on that Promised Day, He will be pleased with them all.
Most marriages start out with great hopes and rosy dreams; spouses are truly committed to making their marriages work. However, as the pressures of life mount, many marriages change over time and it is quite common for some of them to run into problems and start to flounder as the reality of living with a spouse that does not meet with one’s pre-conceived ‘expectations’. However, with hard work and dedication, couples can keep their marriages strong and enjoyable. How is it done? What does it take to create a long-lasting, satisfying marriage?
Below are some of the points that have been taken from a marriage guidance article I read recently and adapted for this purposes.
POSITIVITY Spouses should have far more positive than negative interactions. If there is too much negativity — criticizing, demanding, name-calling, holding grudges, etc. — the relationship will suffer. However, if there is never any negativity, it probably means that frustrations and grievances are not getting ‘air time’ and unresolved tension is accumulating inside one or both partners waiting to ‘explode’ one day.
“Let not some men among you laugh at others: it may be that the (latter) are better than the (former): nor let some women laugh at others: it may be that the (latter) are better than the (former): nor defame nor be sarcastic to each other, nor call each other by (offensive) nicknames.” (49:11)
We all have our individual faults though we may not see them nor want to admit to them but we will easily identify them in others. The key is balance between the two extremes and being supportive of one another. To foster positivity in a marriage that help make them stable and happy, being affectionate, truly listening to each other, taking joy in each other’s achievements and being playful are just a few examples of positive interactions. Prophet Muhammad (PBUH) said: “The believers who show the most perfect faith are those who have the best character and the best of you are those who are best to their wives”
Another characteristic of happy marriages is empathy; understanding your spouses’ perspective by putting oneself in his or her shoes. By showing that understanding and identifying with your spouse is important for relationship satisfaction. Spouses are more likely to feel good about their marriage and if their partner expresses empathy towards them. Husbands and wives are more content in their relationships when they feel that their partners understand their thoughts and feelings.
Successful married couples grow with each other; it simply isn’t wise to put any person in charge of your happiness. You must be happy with yourself before anyone else can be. You are responsible for your actions, your attitudes and your happiness. Your spouse just enhances those things in your life. Prophet Muhammad (PBUH) said: “Treat your women well and be kind to them for they are your partners and committed helpers.”
Successful marriages involve both spouses’ commitment to the relationship. The married couple should learn the art of compromise and this usually takes years. The largest parts of compromise are openness to the other’s point of view and good communication when differences arise.
When two people are truly dedicated to making their marriage work, despite the unavoidable challenges and obstacles that come, they are much more likely to have a relationship that lasts. Husbands and wives who only focus on themselves and their own desires are not as likely to find joy and satisfaction in their relationships.
Another basic need in a relationship is each partner wants to feel valued and respected. When people feel that their spouses truly accept them for who they are, they are usually more secure and confident in their relationships. Often, there is conflict in marriage because partners cannot accept the individual preferences of their spouses and try to demand change from one another. When one person tries to force change from another, he or she is usually met with resistance.
However, change is much more likely to occur when spouses respect differences and accept each other unconditionally. Basic acceptance is vital to a happy marriage. Prophet Muhammad (PBUH) said: “It is the generous (in character) who is good to women, and it is the wicked who insults them.” “Overlook (any human faults) with gracious forgiveness.” (Quran 15:85)
COMPASSION, MUTUAL LOVE AND RESPECT
Other important components of successful marriages are love, compassion and respect for each other. The fact is, as time passes and life becomes increasingly complicated, the marriage is often stressed and suffers as a result. A happy and successful marriage is based on equality. When one or the other dominates strongly, intimacy is replaced by fear of displeasing.
It is all too easy for spouses to lose touch with each other and neglect the love and romance that once came so easily. It is vital that husbands and wives continue to cultivate love and respect for each other throughout their lives. If they do, it is highly likely that their relationships will remain happy and satisfying. Move beyond the fantasy and unrealistic expectations and realize that marriage is about making a conscious choice to love and care for your spouse-even when you do not feel like it.
Seldom can one love someone for whom we have no respect. This also means that we have to learn to overlook and forgive the mistakes of one’s partner. In other words write the good about your partner in stone and the bad in dust, so that when the wind comes it blows away the bad and only the good remains.
Paramount of all, marriage must be based on the teachings of the Noble Qur’an and the teachings and guidance of our Prophet Muhammad (PBUH). To grow spiritually in your marriage requires that you learn to be less selfish and more loving, even during times of conflict. A marriage needs love, support, tolerance, honesty, respect, humility, realistic expectations and a sense of humour to be successful.
The past week or two has been a mixed grill of briefs in so far as the national employment picture is concerned. BDC just injected a further P64 million in Kromberg & Schubert, the automotive cable manufacturer and exporter, to help keep it afloat in the face of the COVID-19-engendered global economic apocalypse. The financial lifeline, which follows an earlier P36 million way back in 2017, hopefully guarantees the jobs of 2500, maybe for another year or two.
It was also reported that a bulb manufacturing company, which is two years old and is youth-led, is making waves in Selibe Phikwe. Called Bulb Word, it is the only bulb manufacturing operation in Botswana and employs 60 people. The figure is not insignificant in a town that had 5000 jobs offloaded in one fell swoop when BCL closed shop in 2016 under seemingly contrived circumstances, so that as I write, two or three buyers have submitted bids to acquire and exhume it from its stage-managed grave.