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Trading Trends and Using Technical Analysis

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Forex traders who rely on a strategy called trading trends can also use various methods of technical analysis to achieve greater precision with their trades. In this post we discuss methods of technical analysis that you can use for trading trends in the markets.

Trading Trends Is Only One of Several Trading Strategies

Other Forex trading methods such as range Forex trading or breakout Forex trading are just as suitable but not as popular as trading trends.

RELATED ARTICLE: PRICE ACTION FOREX TRADING: ONE APPROACH AMONG MANY

Moreover, trends vary depending on the type of asset class you are looking at. Generally, trends are more pronounced in commodities. In many cases this is because commodities such as natural gas, grains, are seasonal in nature. Additionally, demand for certain commodities naturally rises and falls.

However, trends in the Forex markets are not so seasonal. Instead, trends having to do with currency pairs are more dependent on economic and other factors. This makes trends in the Forex market less predictable.

For example, the EURUSD was in a clear upward trend during December 2016 through late January 2018.

But the trend for that currency pair reversed itself in January 2018 and has been descending since then. Once Forex traders become aware of such trends, they can position themselves to make greater profits from the changes in theses trends. This is the heart of the strategy that Forex traders refer to as trading trends.

trading trends example
EURUSD Trends

How Do Traders Use a Strategy of Trading Trends?

A Forex trader whose strategy is based on trading trends will first
identify an already-established trend in the market. Then they look for the
turning points in that trend. This allows them to find the best price entry
points so they can ride that trend.

Additionally, Forex traders who rely on trading trends also turn to
technical analysis. This allows them to create their own trading systems for
trading trends as they notice them in the markets.

If you are a Forex trader who relies on trading trends, following are some of the methods of technical analysis that you can use in conjunction with your trading strategy.

1. Use the High Low Method to Predict Changes in Trends

Trends tend to correct themselves naturally. This can lead to different segments of trends. For example, the monthly trend might be moving upward, but a four-hour chart could show a downtrend. This is nothing but a correction to the major uptrend. If you’re a Forex trader who’s trading trends you already understand this.

The High Low Method can indicate to Forex traders when a trend might end or weaken. For example, when a recent price level is down on the four-hour chart, this might be an indication that an upwardly moving trend is coming to an end—or not. If you’re trading trends, you will want to check the daily chart and see if it signals the same.

2. Draw Trend Lines When Trading Trends

The trend line itself can allow you to make a prediction about when price levels will rise or fall.

To use trend lines when trading trends, draw diagonal lines that connect two highs or two lows. In this way, you will be able to tell more easily whether a particular trend is resuming or beginning to move in the opposite direction.

3. Look for a Divergence

The oscillator divergence is one of the best technical indicators you can use when you’re trading trends.

When two data sets fail to move in tandem, this is called a divergence. In other words, when a price is moving higher, traders also expect the oscillator to behave similarly.

When a divergence such as this one occurs, it can point to potential corrections in price. If you’re trading trends, you can use a divergence as a tool for choosing the best points for your trades. You might even combine it with the retracement method for greater precision. When you can predict the best turning points you will know when to enter a trend.

The post Trading Trends and Using Technical Analysis appeared first on Business Opportunities.

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Low-Tech Self-Employed Most at Risk of Being Overtaken by Bots

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Self-Employed Jobs Threatened by AI

Self-employed people in low paid, routine jobs face the greatest risk of being overtaken by artificial intelligence. This finding comes from new research carried out by the School of Management at the University of Buffalo.

Self-Employed Jobs Threatened by AI

The study found popular, low skilled, regular jobs face the greatest risk of being replaced. For example, these include drivers, independent sales reps and construction and agricultural workers.

The researchers  reviewed every study to date. They focused on self-employment. And they focused on AI. Then they compared the findings to their own research on teams. As a result, research comes from more than 20 published studies. And they stretch across a diverse range of work settings.

Researchers analyzed different sectors. They then concluded some jobs are at risk from AI. But not every occupation faces the threat of an artificial intelligence takeover.

Small Businesses Employing Teams May be at Risk

Small business owners should take interest in the researchers’ conclusions. So should the self-employed and those thinking about starting their own business. What businesses face greater risk of being superseded by AI? Consider occupations which require employees to work in teams. Think about those that require employees to make decisions and negotiate.  Compare these to jobs that require little in terms of decision making and interaction.

The study also highlights the need for the self-employed and small businesses to gain access to AI resources. This keeps up with businesses with greater tech assets. And helps them remain competitive in an increasingly tech-driven climate.

The research also found that jobs that required technical expertise and knowledge, such as the maintenance of robotics and AI hardware distribution, could see a significant rise in demand.

Self-Employed Have Less Access to AI

Kate Bezrukova, associate professor at the Department of Organization and Human Resources at the University of Buffalo, commented:

“Those who are self-employed just don’t have the same access to AI resources that corporate employees do, which makes it difficult for them to keep up with these technical advancements.

Bezrukova refers to the growing demand for IT skills this way:

“It’s like when the computer revolution hit decades ago – there was great fear that computers would replace people. But work just shifted and IT positions grew because we needed more support for our computers and networking.”

Ways exist to help overcome the potential pitfalls of AI. Those pitfalls include overriding many low-skilled routine jobs. The authors of the study recommend creating public awareness programs. Design these to increase understanding of the opportunities and risks of AI.

The researchers also recommend updating the school curriculum. Integrate evolving tools and skills. And research integration of AI in the workplace. Particularly for the self-employed.

Image: Depositphotos.com

This article, “Low-Tech Self-Employed Most at Risk of Being Overtaken by Bots” was first published on Small Business Trends



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Strengthening the foundations of trust in the digital age

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People’s trust is being undermined by four key factors, tied to the speed of technological change: the speed of change, the volume of data, the unintended consequences of technology, and the widening generational gap. Leaders need to recognize that change is a constant and act to re-instill a sense that society’s institutions and economic drivers – businesses — can be trusted to deliver.See also “How businesses can deliver on trust in the digital age.”

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Yahoo Small Business Introduces Website Design Service

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Yahoo Small Business Website Design Service

Yahoo Small Business has unveiled its Website Design Service catering to small businesses. The service provides the design, build, and management of professional websites for small business owners.

Yahoo Small Business Website Design Service

It is expected to lessen the burden on small businesses from learning how to build and manage websites on their own to using the WordPress platform. The new service will provide the design, engineering, copywriting and support services required to create, build, launch and manage a website.

Includes All the Bells and Whistles of a Professional Website

The tools offered by Yahoo Small Business include drag-and-drop website building tools where you can choose from 150+ themes to customize and publish your site. In addition to these capabilities, Yahoo is also providing hosting services. This is a sticking point for many DIYers who have to find their own hosting company.

As part of the package, clients can regularly request content updates and additions to their site including updating security plug-ins. The content is also reviewed for Search Engine Optimization (SEO) before and after launch, which can help the site get higher page rankings and increase organic traffic.

Kush Shrivastava, managing director of Yahoo Small Business, highlights why this service is so important in the emailed press release. Shrivastava goes on to say, “With Website Design Service, small business owners don’t need to spend extensive time or money learning how to code or optimize for search rankings. Yahoo Small Business will handle the heavy-lifting to deliver the world-class website they need to effectively connect with their customers.”

Yahoo Small Business offers an easy step-by-step process that includes consultations with an expert designer. The consultation includes brand goals along with website production, content assets, regular monitoring and maintenance.

Site Tools

One of the challenges in creating your own site is the technical aspect. And if you are not tech-savvy, it can be a problem. Yahoo has overcome this challenge by making tools small businesses can readily use.

It all starts with a large selection of domain extensions so you can customize your name with industry-specific URLs.

After you create and publish your site, you can start selling your products and services online. The eCommerce feature lets you create stores with shipping integration, inventory management, credit card processing and live insights. Additionally, you will get apps to help your business grow.

As a small local business getting discovered by customers is a challenge, both in the real and digital world. Yahoo will solve this problem by listing your business on 70+ local directories from a single dashboard. This is going to allow your customers to find your site easily.

Last but not least, you can create a business email to match your domain name for added credibility and professionalism.

Cost

The Website Design Service includes two offerings. There is a standard package that provides a professional site with basic functionality and light content updates. The premium package offers advance features and capabilities, including accepting reservations or appointments, issuing quotes, customer login and more. Both offerings come with SEO reporting and regular content updates along with mobile optimization.

Yahoo has three pricing options. The Starter package comes with free tools to get business and personal websites up and running. The Basic package starts at $4.99 and includes YSB Insights as well as domain and email for small businesses.

The Professional package is available for $9.49 and includes e-mails for your employees and extra storage space for your data.

Image: Yahoo Small Business

This article, “Yahoo Small Business Introduces Website Design Service” was first published on Small Business Trends



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In the News: Finance Issues Take Center Stage for Small Businesses

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This week the issue of finance, which is a constant challenge for small businesses was front and center. First small business owners said they are not getting the service they deserve from their bank.  As a matter of fact, 69% of owners in a survey say they are willing to switch banks for better services.

Keeping with the issue of finance, Splitit has introduced a new service that is going to let you make payments on your B2B purchases. Being able to make payments on purchases for your business when you can’t pay for the whole thing is a game-changer.

If the B2B company you are going to purchase your supplies from chooses to make Splitit available, the process is simple and straight forward. You buy your items and the business then lets you pay in installments.

For small businesses short on funds but with limited credit, it is a lifesaver because you are dealing directly with the business. Additionally, it will strengthen the relationship between both businesses.

Read about these and other stories in our weekly small business news roundup.

Finance

69% of Small Businesses Would Switch Banks

When 69% of small business owners say they would switch to a bank which provides all the features and services they need, there is a problem. Even more distressing is the fact that only 9% of owners say their bank addresses all their small business needs. This means 91% of owners feel banks are not delivering.

Recurring B2B Payments Solution Offered by Splitit

Splitit is launching the first of its kind business-to-business (B2B) payment platform. Splitit Business Payments is going to allow manufacturers and suppliers to offer their buyers an interest-free, installment credit solution. According to the company, this new solution is going to remove the barriers between SMB buyers and sellers.

Economy

Number of Women-Owned Businesses Up 21% Since 2014

If you are already successfully running a women-owned business, pat yourself on the back. You have made it! And if you have a great idea to initiate the one, there is no better time than now. This is because women-owned businesses are soaring. According to the 2019 State Of Women-Owned Businesses Report, the number of women-owned businesses climbed 21% between 2014 and 2019.

Employment

Businesses Will Fight California Bill That Would Turn Contractors into Employees

Silicon Valley giants Uber, Lyft and DoorDash are willing to spend $90 million to lobby against a California bill that would recognize drivers as employees rather than independent contractors. Some companies recognize employees as gig workers to avoid paying payroll taxes, above-minimum wages, overtime and complying with other wage and benefit requirements.

Local Marketing

Surefire Local Debuts New Hyperlocal Marketing Platform for Small Businesses

The debut of Surefire’s All-In-One Local Marketing Platform looks to make local businesses grow by letting them take control of their multi-channel marketing efforts. A multi-channel approach is key in today’s digital ecosystem because small businesses now also operate online. Therefore, bringing the physical and digital worlds together is key to fully optimize ad spend.

Marketing Tips

What is a Creative Brief? 15 Places to Find Examples

A creative brief is an essential document for businesses and agencies that work on any creative projects. It is used to describe every aspect of a creative campaign or project so that the people working on it know exactly what is expected.

45% of Email Marketers Struggle for Inbox Attention

The 2019 State of Email Marketing report reveals email is the most effective and widely used marketing channel available today. However, getting inbox attention still remains the biggest challenge for an email marketing campaign. The report says 45% of its respondents find the competition for attention in the inbox a challenge.

Startup

Can You Use a Business Bank Account for Personal Use?

A reader asks: Recently I was hired as a bookkeeper for a small manufacturing business. My boss, the owner, uses the business bank account for personal use — and it’s driving me crazy!  He withdraws money with a debit card for personal expenses. Last week his wife bought a big screen TV for their home using a blank check he signed from the business account.

Fiverr Launches New Architecture and Interior Design Categories

Fiverr recently released some new products designed  to meet the needs of commercial and residential building and design.  As a result, freelancers in the architecture, interior design and landscape design space can pair up with clients looking for their services.

Businesses Take Up Slack as Governments Abandon Social Responsibility

It now seems that many governments around the world are backing off from social responsibility. They no longer try to alleviate all the social problems in their counties. However, with a decade of economic growth, for-profit companies are taking up the slack.

Taxes

How Much Is Personal Use of a Company Vehicle Worth?

Common practice in many businesses allows owners and employees to drive company cars, trucks, or vans for personal reasons. You’ll notice this particularly with small businesses. This may include commuting. As a result, businesses need to treat this as personal use. Or owners and employees may have access to a company vehicle after work for any reason.

Technology Trends

New Shutterstock Tool Helps Your Business Make a Creative Brief

The launch of Shutterstock’s Smart Brief addresses the growing visual demands of today’s digital ecosystem. But with more marketing channels available to businesses, creating the right content to represent your brand is critically important. Smart Brief looks to simplify and expedite the process of developing your creative brief so creators can get started with your project right away.

Unify Square Expands PowerSuite to Better Manage Business Collaboration

Unify Square, announced on October 1 the extension of its PowerSuite Cloud Managed Services (CMS) offering. The new service will make it easier and more cost-effective to manage and secure Unified Communications room systems. At the same time, it will improve and streamline the way people are communicating and collaborating today.

Image: Depositphotos.com

This article, “In the News: Finance Issues Take Center Stage for Small Businesses” was first published on Small Business Trends



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