Becoming Your Own Boss: It’s Never Too Late

Some people look forward to retirement for most of their working lives and can’t wait to stop the daily grind. However, for others the prospect of giving up a career isn’t so appealing. 

If you’re in this position, you may want to consider launching your own business. After all, there are lots of benefits associated with entrepreneurship. Being the boss of yourself might sound good but is not so easy. 

There is a lot of stress and you might find yourself working too many hours. Since this is your own job, you have to make sure everything works fine. You can start as a professional individual or start a company. That depends on your personal goals and ambitions.

By starting a company, you will become your own boss, meaning you can focus on issues that really interest you. In addition, while starting a firm certainly involves plenty of hard work, it also enables you to function according to your own schedule. 

This extra flexibility can be ideal as you get older. Furthermore, there are the financial plus points to consider. The cost of living is on the rise and many pensioners now find it tough to make ends meet. By starting a small business, you stand to boost your bank balance.

To increase your chances of success, it’s important to bear some fundamental principles in mind. For example, before committing money to projects, it’s vital that you do plenty of research. 

Thanks to the web, it’s now easier than ever to set about getting the information you require. You’ll need to determine the potential market for your goods or services and size up the competition out there. 

Achieving success in the world of enterprise hinges on being able to exploit workable gaps in the market. By spending some time and effort on establishing the facts, you can help to minimise the risks you face.

Meanwhile, you’ll also need to decide what sort of business you want to set up. Becoming a sole trader is the simplest option. 

However, it’s worth bearing in mind that if you register as a limited company instead, your personal assets will be protected if your venture runs into financial problems. Another option is to set up in partnership with other people.

Then there is insurance to think about. If you’re operating from your own property, you may need to change your existing home insurance to reflect this. Also, if you employ at least one member of staff you’ll need employers’ liability insurance. Depending on the nature of your organisation, you may need various other forms of financial protection too.

To help you get your company off the ground, it’s a good idea to seek out local support. Networking will help you build contacts and you can also get some top tips from fellow entrepreneurs. In addition, there may be groups in your area that offer mentoring services to fledgling companies, as well as funding opportunities.

As long as you are methodical when setting up your business, you stand to achieve potentially impressive results.

Living in the South East of England

The South East of England is a highly popular place to live. Companies like Cala Homes regularly sell homes throughout the counties in this part of the world. It’s one of the biggest investment locations in the whole of the UK. There are so many advantages to living here which simply aren’t available living elsewhere. Here are some of the reasons why people want to live in this area.

The Transport Links

The South East of England is an important part of the country economically, especially in shipping. Most of the UK’s trade with Europe comes through ports somewhere in the South East. It’s led to a great deal of investment in the transport infrastructure. It’s the home of the UK’s only high-speed rail system which goes straight up to London.

It’s easy to get to the city of London for business. A lot of workers commute into London from the southeast each day via road and rail.

The presence of the ports makes it easy to get to Europe. Dover is in the South East and is the main sea link to the continent. Countries like Belgium, the Netherlands, and France are within easy reach for travellers living here.

The Weather

England doesn’t have the best reputation for its weather, but the South East receives some of the lowest levels of rainfall and the most sunny days out of the entire country – hence why so many tourists spend time here. People who prefer milder weather throughout the year and nice summers will love staying in a place like Kent.

Good Job Prospects

The South East plays host to many of the government’s job creation schemes. As one of the most important parts of the country, it regularly gains investment from Westminster. Due to its solid transport system, it’s simple to commute to the likes of London, Canterbury, and Dover for work.

There are good job prospects for everyone because of its proximity to the capital. People of any background can move here as long as they want to work.

House Prices

It can be a worthwhile investment to buy a house in the South East. House prices have a history of constantly going up in the long-term, despite the recent problems with the national housing market. 

Investors tend to target the South East because of the pool of buyers and sellers, with many people choosing the area for their second homes and summer residences.

Diversity of Environment

The area is similar to the county of Yorkshire in the north. There are so many different environments to experience. There are cities for those who want to reside in an urban environment and small country villages for those with a more rural calling. There are woods where people can relax and beaches where they can have fun with the kids.

It’s a place where anyone can experience something they love, and this is why it’s such a prime location to buy a home.

How Money Flows in Game Theory

English: The original controller for the American Xbox video game console, sometimes called the "Duke" controller. (Photo credit: Wikipedia)

Gaming has become a phenomenon that has now seeped into the daily life of the average individual. In Ontario, almost 61% of all households have a gaming console. This excludes those that play on computers and not on consoles. The total number of gamers is far greater. With over $ 1.7 Billion spent according to the RateSupermaket infographic on video gaming cost, Canadians are looking to get out and get amongst the action.

The average games spends roughly $ 900 on gaming. This includes buying consoles and an average of fifteen and a half new games a year. Currently, the Nintendo Wii U is the cheapest console as compared to the Playstation 4 and the Xbox One which are 400 and 500 dollars as each. Consoles depreciate a lot too with resale prices being as low as a hundred dollars for the previous Xbox 360. Canada being the third largest gaming population in the world, almost $84 million being spent on games alone.

This brings to light the growth of the gaming industry which has shifted from its niche arcade roots to games which are as grand as movies, both in conceptualization as well as making. The domain of the rich has had the addition of the geeky gamer in it and the wealth of that gamer is still to grow. In 2010-11, the gaming industry in Canada grew almost over 11 percent making it a market which is not only large with almost two billion dollars being spent in Canada alone but also a market which is growing at a steady and strong rate.

It is not a phenomena now, it is a proper player in a market that is growing with promise. Perhaps the greatest factor is the fact that there are a lot of people who don’t put a price on entertainment, which is primarily what the games cater to. The amount of money they spend on entertainment is a large amount to say the least.

With games such as FIFA and Need for Speed running successful franchises which have been running for over two decades, the demand is undying. And it is a blatant lie to say that only young people game with Canada’s average gamer being over thirty years old. Another surprising fact is the number of females that now play games. In what has been called by draconian sources as a predominantly male society, and in an industry which manufactures and caters to a net worth of close to two billion dollars, females comprise of over 46 percent of the total gaming population.

The gaming industry has created a subculture with its own financial system to ensure that the previously underground circuit now receives as much attention as required. The marketing costs for some game titles run into millions and rival those of automobile manufacturers making much more expensive products. For the potential gamer there are now better and more prudent finance decisions that are available. Buying used games has become an alternative way of tapping into the market of previous titles. Consoles become much cheaper and for the gamer who is simply learning the ropes, getting a decent rig is relatively inexpensive as compared to the amount of entertainment that can be gained from it. According to RateSupermaket infographic on video gaming cost over $300 CAD, over 90 percent of Canadian children are gamers. This observance states that the market for the spending gamer is going to increase massively. If 90 percent of children play a computer game then a lot of them will continue to do so when they become adults and active participants in the market. Hence the way to go for games is only up.

Price Action Trading - The Most Successful and widely used Forex strategy

There are a number of strategies that are used by traders to maximize their profits in Foreign Exchange (Forex) market. For instance, some make use of various technical indicators such as RSI, Stochastic Oscillators, Bollinger Bands etc., some observe MACD and Moving Average Crossovers while others solely rely on fundamentals. However in my opinion the best way to succeed in Forex market is to use a combination of different strategies and one such combination is known as Price Action Trading. Traders from all over the world have been using this combination for many decades and practical experience has proven it to be a very reliable and successful strategy.

Key components of Price Action Trading

Price Action Trading is based upon following components: 

• Support & Resistance levels 
• Trendline 
• Psychological Numbers 
• Fibonacci Levels 
• Confirmation Bars 

Let us discuss each one by one.

Support & Resistance levels. Support & Resistance is one of the most fundamental concepts in Forex Trading. A level that prevented price to go up during any period of time in past is known as Resistance level. Whereas, a level that stopped price to slide down during any time period in past, is called Support level.

Chart Source: http://www.rightline.net/education/support-resistance.gif
The above chart clearly highlights the support and resistance levels.

Trendline

Trendline is drawn on a chart by joining the key resistance and support levels. Have a look on the following chart.

In this chart, a trendline is drawn by joining two support and two resistance levels. According to this trendline, the price of EUR/USD will face a strong resistance at 1.3895, thus traders will tend to sell EUR/USD at 1.3895 to 1.3900 region. Similarly, if the price of EUR/USD falls and eventually hit the lower trendline, that point of lower trendline will act as a strong support level and the price will most probably be bounced back. Therefore, traders will tend to buy EUR/USD from that support level. 

Psychological Numbers

Psychological numbers are the round numbers that are easy to remember for instance 1.5900, 1.6300, 1.5500, 1.8300 etc. A resistance or support level close to any psychological number is comparatively more significant. In our EUR/USD example, we will consider psychological number 1.3900 a very major resistance level as it is close to trendline resistance 1.3895. 

Fibonacci Levels

Leonardo Fibonacci was the founder Fibonacci levels. These are the points of possible reversal or trend change in price. In order to draw Fibonacci levels you can make use of an MT4 tool, follow the following command: 

Go to: Insert >>>>Fibonacci >>>> Retracement

Now insert the retracement tool at the nearby lowest or highest level on an appropriate timeframe such as One Hour (H1), Four Hour (H4) or Daily (D), now fully stretch the retracement tool by moving your cursor in opposite direction as shown in the following chart.

Chart Source: http://farm5.static.flickr.com/4098/4752860472_6e3bced684_b.jpg

You can see that the price showed upward trend upto 68.8% Fibonacci level and then suddenly changed the trend and started sliding down, that means, 68.8% Fibonacci level acted as a resistance and forced price to go down. The most common Fibonacci levels are 68.8%, 50% and 38.2%, the price usually shows a reversal from such levels. 

Confirmation Bars

Confirmation bars are basically candles in candlestick pattern such as Hammer, Shooting Star, Pin Bars etc. that confirm the change in price trend.
Conclusion

An ideal opportunity to enter the market arises when the price is near any major support/resistance level (derived from trendline), and such level is close to any psychological number or Fibonacci level and confirmation bar is also there to confirm the change in trend. This was a brief summary of Price Action Trading.


Author bio:
Egor Prokof'ev is an experienced Forex trader who writes about online currency trading and PAMM investments. He is also one of market analysis experts at FXOpen and economic forecasts writer at TradingPoint.

Why Dealer Transparency Is Key When Making a Foreign Exchange Deal

When looking to make an exchange or payment worth hundreds of thousands of pounds, there is no doubt that transparency should be everything when it comes down to your chosen broker or exchange company.

After you have registered with a larger foreign exchange provider, the usual process is for one of their dealers to ring up and negotiate a transaction over the phone.

Without actually seeing the figures and rates at hand however, this can get confusing, and you may not actually be getting the best deal.

In fact, some brokers even calculate their rates on the status of the customer, meaning that depending on who you are, or how big your business is, you may be paying more than others.

Companies such as www.4xcurrency.com calculate their rates as a percentage away from the inter-bank rate and according to the size of the trade; so that everyone gets the same exchange rate.

Choosing the right broker is therefore imperative if you are looking to save your business as much money as possible.

Ideally, you should be able to see the exchange rate on a computer screen before you make a deal, so you can compare the price you receive with other providers. Often this will be streamed to your computer via the broker’s exchange system.

If it is done correctly, this means that you should be able to view currency rates in the exact same manner as large corporations and foreign exchange traders; allowing you to make the right payment at the right time, with maximum ease and security.

In addition to this, some brokers even back up their deals so that you will always get the agreed amount of foreign currency at the time of when the deal is made. This is bonding, even if the rate of exchange changes overnight or when the transaction is fully complete.

But what about bank exchanges?

Though bank exchanges offer great security, the truth is that the primary business of a bank is not in foreign exchange, so you shall probably be given a lesser rate and charged for the exchange that you are about to make. In fact, some banks impose fees of up to £30 - £40 per exchange.

Not only that, but if you go with a specialised broker, it is far more likely that they will spend the time and effort into making sure that their clients are given the best rates possible.

Though transparency can vary between individual banks, it is generally held that they do offer a good level of clarity when making an exchange, even if the bank charges more than a broker.

What You Need to Know Before Opening an ISA

If you are interested in saving for your future, there is a great option you may have heard of. The Individual Savings Account (ISA) is a tax-free way of saving money for your short or long-term goals. It is a way of saving your money under a tax shelter. The concept of an Individual Savings Account is simple to understand, however, there are a few things you should understand before opening an ISA. 

Cash ISA versus Investment ISA

There are two types of ISAs: cash ISAs and investment (stocks and shares) ISAs. In either case, an ISA manager handles your account. You do not have to pay income tax on the interest and the gains are tax-free as well.

The cash ISAs are great for short-term savings accounts. You can place the money into the account at any time or place a lump sum in there up to the annual contribution limit. You can readily pull your money out, and there of course may be penalties for doing so.

An investment ISA allows you to place your stock market investments into a tax-free shelter as well. These are advised to invest in for long-term opportunities. These are a risk and your funds will go up and down. Therefore, if you are depending on the money, it may not be the best option for you. 

Check Out Multiple Bank Offers

Banks operate under different terms and conditions when it comes to their ISA’s. Some banks are more lenient than others are. You may find a bank that allows you access to your money immediately while others go through strenuous paperwork. A bank may pay you a fixed rate if you do not touch your ISA for a full year. You may start with a bonus rate for your initial deposit, but the rate may drop over time. 

Transferring Fees

A bank can charge you transferring fees. That is a major catch and deal breaker for some people. Remember, you cannot withdraw your own ISA without incurring a fee. It must be transferred over. So find a bank that does not charge a fee. You may find a better interest rate later and it will be too late at the end of your term to transfer and receive the advantages.

When transferring, you want to make sure it is simple to do and done correctly. If you have cash and investment ISAs, they both may not be able to transfer to the same bank. An investment management firm such as Nutmeg makes transferring existing ISAs simple. They offer stocks and shares ISAs. They help you build and manage your portfolio. 

Apply Early and Get Your Documentation Ready

The deadline for ISA applications are April 5. Your maximum annual contribution amount for the cash ISA is £11,280 for the 2012-2013 tax year and £11,520 for the 2013-2014 tax years. You will find many people hurrying at the last minute to get them in. Once you have found one you are interested in, hurry and apply. Before that, get your documentation ready such as your identification, address verification, and your National Insurance number.