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The nature and development of foreign exchange

What is foreign exchange control?

 

Foreign exchange control: refers to the restrictive measures imposed by a government on foreign exchange in and out to balance the balance of payments and maintain the exchange rate of the national currency. Also known as foreign exchange management in China. An international trade policy that restricts imports by a government that restricts international settlements and foreign exchange transactions through decrees. Foreign exchange control is divided into quantity control and cost control. The former refers to the direct restriction and distribution of the amount of foreign exchange trading by the State Administration of Foreign Exchange, and the purpose of restricting exports by controlling the total amount of foreign exchange; the latter means that the State Administration of Foreign Exchange implements a complex exchange rate system for foreign exchange trading, using the cost of foreign exchange trading. The difference is to regulate the structure of imported goods.

The nature of foreign exchange control

  1. For Western countries, foreign exchange control is a tool for their foreign economic policy.
  2. For developing countries, foreign exchange control is a defensive measure to prevent monopoly capital from invading and safeguarding the economic interests of the country.

Most developing countries are relatively backward, foreign exchange funds are insufficient, the international balance of payments is deteriorating, and the debt burden is heavy. Therefore, foreign exchange control is to stabilize its local currency, ensure the independent development of the national economy, seek balance of international payments, and make limited foreign exchange funds as free. An important tool for outflow.

The emergence and development of foreign exchange control

Foreign exchange controls began during the First World War. At that time, the international monetary system was in a state of collapse. The United States, France, Germany, Italy and other participating countries all experienced huge international balance of payments deficits. The foreign exchange rate of the local currency fluctuated drastically, and a large amount of capital fled. In order to carry out wars on foreign exchange funds, slow down exchange rate fluctuations and prevent domestic capital outflows, the participating countries can celled the free trade of foreign exchange during the war, prohibited gold exports, and implemented foreign exchange controls. During the period of the world economic crisis from 1929 to 1933, many countries that can celled foreign exchange controls after the war re-implemented foreign exchange controls. Some countries that implemented the gold nugget and gold exchange standard system also implemented foreign exchange controls. In 1930, Turkey first introduced foreign exchange controls. In 1932, more than 20 countries including Germany, Italy, Austria, Denmark, and Argentina also implemented foreign exchange controls.

After the outbreak of the Second World War, the participating countries immediately implemented comprehensive and strict foreign exchange controls. In 1940, only 11 of the 100 countries and regions did not formally implement foreign exchange controls, and the scope of foreign exchange control was wider than before. In the early post-war period, Western European countries continued to implement foreign exchange controls based on the prevailing “dollar shortage”. In the late 1950s, the economies of Western European countries recovered and the international balance of payments improved. Since 1958, countries have resumed currency convertibility to varying degrees and lifted foreign exchange controls on international trade balances, but foreign exchange for other projects. The control remains unchanged. In 1961, most of the IMF member states stated that they were obligated under Article 8 of the International Monetary Fund Agreement to avoid foreign exchange restrictions and to implement currency convertibility. However, in the 1990s, most countries still implemented foreign exchange control to varying degrees. Even countries that nominally completely abolished foreign exchange controls often indirectly use non-trade income or non-resident capital account revenues and expenditures.

What is the body afraid of

Our body is an organic whole. Every “part” can work properly to ensure the health of the human body. Any problem with any “part” can endanger life.

First, the heart is afraid of salt

Excessive salt, aggravating the burden on the heart

At present, the main component of salt is sodium chloride. If sodium is ingested too much, it will cause water retention in the body, increase intravascular pressure, increase resistance, and increase the burden on the heart.

Therefore, people with a bad heart will feel uncomfortable if they eat too salty. In particular, patients with heart failure need to control salt intake and water intake.

In addition to salt, MSG, soy sauce also contains salt, excessive use, which will lead to excessive salt intake.

Suggest

1, eat 6 grams of salt a day, equivalent to the amount of a beer cap.

2, it is best to choose low sodium salt, remove 20% of sodium chloride in low sodium salt, replace it with potassium chloride, not only reduce sodium ion, but also reduce the risk of high blood pressure, and potassium ion can help lower blood pressure.

  1. If you eat too salty, don’t forget to drink more water.

Second, the stomach is afraid of cold

The stomach is cold, causing contraction, cramps

For the stomach, “cold” is the most difficult to accept. Once the stomach is stimulated by cold air or cold food, it is easy to contract sputum, stomach cramps, diarrhea. People with gastrointestinal diseases know that when you have gastrointestinal discomfort, holding a hot water bottle will be more comfortable for a while.

Cold things can cause gastrointestinal discomfort, because cold can cause gastrointestinal vasoconstriction, affecting the passage of food through the digestive tract mucosa into the blood.

Stomach pain, abdominal discomfort, decreased digestion when eating cold food can cause or aggravate stomach discomfort.

Suggest

Do not directly enter the food in the refrigerator, you can heat or place it at room temperature.

Third, the kidney is afraid of meat

Excessive protein, beware of kidneys

Frequent entertainment easily leads to excessive protein intake. Long-term high protein intake increases the burden on the kidneys and even puts the kidneys in an “overloaded” state for a long time.

Protein is not limited to eggs and milk. All kinds of meat, seafood, and beans contain high protein. When you are keen on eating high-protein foods, or blindly supplementing high-protein supplements, be careful not to get tired of the kidneys.

Suggest

  1. Adults can consume 60 grams to 80 grams of protein per day to meet their needs.

2, generally 84.5 grams per kilogram of pork, 100.5 grams of protein per pound of beef. In addition, protein is contained in eggs, milk, and soy products, so calculate it so that you should not eat more than 4 meals a day.

Fourth, the liver is afraid of fat

Fatty liver, severely developed into liver cancer

Obesity is easy to cause fatty liver, and severe cases can cause liver fibrosis, which in turn develops into cirrhosis and liver cancer.

Studies have found that the liver of obese people is very aging. On average, for every 10 increase in body mass index (BMI), the “age” of the liver increases by 3.3 years.

Suggest

1, control diet plus reasonable exercise, is the best way to lose weight.

  1. When you realize that you are overweight, you will start to control your diet, ensure a good plan, and reduce your weight in stages.

3, the liver is the body’s largest detoxification organ, most drugs need to be metabolized by the liver, resulting in a high incidence of drug-induced liver damage. Therefore, the use of drugs should pay attention to its adverse reactions, do not use drugs.

Five, blood vessels are afraid

High blood pressure fluctuations, prone to accidents

The blood vessels are like a rubber hose. When it is cold, the rubber will become brittle. If the water pressure increases, it will easily crack, and so will our blood vessels.

In addition, as far as the blood vessels themselves are concerned, they also follow the principle of “cold contraction and thermal expansion”, and the hot blood vessels expand in summer and the cold blood pressure in winter decreases.

When climate changes, blood pressure fluctuations increase, leading to increased cerebral hemorrhage and cerebral infarction. Especially in middle-aged and elderly people, the elasticity of blood vessels itself is worse than that of young people, so the chance of accidents such as cerebral hemorrhage is higher.

Suggest

1, take a break early, stay up late

Because staying up late, not only yourself, the biological clock of the cardiovascular and cerebrovascular diseases will be disrupted, resulting in excessive secretion of adrenaline and norepinephrine in the body, allowing the blood vessels to contract, the blood flow is slow, and the viscosity is increased.

2, eat a blood vessel “scavenger”

Hawthorn, oatmeal, black fungus, kumquat, eggplant, sweet potato, garlic, and onion are the eight foods that can dredge blood vessels and maintain the elasticity of the blood vessel wall.

Six, the intestines are afraid of tolerance

Re-absorption of harmful substances

The stool contains a lot of bacteria and toxins, and it can’t stay in the body for a long time. Normal people need to have a bowel movement once a day.

It is a bad habit. The stool is not discharged in time, and the water is repeatedly absorbed by the intestines, causing the stool to dry out.

Toxins in the stool accumulate in the body for too long, harmful substances are absorbed by the intestines, and symptoms such as lack of spirit, lack of dizziness, loss of appetite, etc. may occur; in severe cases, intestinal cancer may be caused.

Suggest

1, do not endure bowel movements

It is a good time to defecate in the morning and after breakfast. Don’t be patient. As long as you insist on regular bowel movements, you can gradually establish a conditioned reflex of bowel movements, and you can defecate on time.

2, drink water do not endure

Many people are unaware that drinking water is related to intestinal health. Some people are too busy to even take a sip of water, and when they drink the eyes of the scorpion, they are already thirsty. I took a cup of booze and drank a stomach, which was uncomfortable for an afternoon. Therefore, don’t “bear” if you drink water.

Seven, the lungs are afraid of smoke

Smoking has a high risk of cancer

Long-term smoking, long-term exposure to second-hand smoke, and long-term exposure to smoke and dust during work are high-risk groups for lung cancer. The smoking index is used to indicate the relationship between cumulative smoking and lung cancer. The smoking index = the number of cigarettes smoked per day × the number of years of smoking.

If a smoker smokes a pack of 20 cigarettes a day for 20 years (365 days a year), which is 7300 packs, then his smoking index is 20×20=400, and the “smoking index” is >400. Should be included in the risk of lung cancer.

Suggest

  1. When is it not too late to quit smoking, now stop smoking.

2, In addition, let the family around you stay away from the harm of second-hand smoke, do not smoke at home.

Eight, eyes afraid of tired

Tired of the eyes, implicated in the internal organs

The eye is the most “sweet” organ, and the eye is the most incapable of being tired. Chinese medicine has the saying that “tired from the eye”, the eyes are too tired, it will also implicate the internal organs, such as headache, insomnia, irritability, nausea and other fatigue symptoms.

Suggest

1, usually look at computers, mobile phones, and other electronic products, every 45 minutes to rest for about 10 minutes.

2, a thumbs up

The three adjacent acupoints on the thumb are Mingyan, Fengyan, and Dakong.

Hold the thumb of the other hand with one thumb and forefinger, and stimulate the three acupuncture points with the nails, and squeeze it with slight pain, repeated 10 times.

This method has the effect of refreshing and refreshing the brain, which can achieve the purpose of quickly and effectively alleviating eye fatigue.

Nine, the ear is afraid of cold

Less blood flowing through, less energy

The ear is a cold-stricken organ, which is related to its “skinny”.

Under the thin skin of the ear is cartilage, almost no fat. Furthermore, the ear is distributed with peripheral capillaries, with less blood flowing through it, less energy and heat. Therefore, when the cold wind blows the ear, it will collapse.

The ear is so cold, you have to do warm and antifreeze work, especially those who are prone to frostbite in the ear.

Suggest

  1. When the weather is cold, you can wear earmuffs when you go out, or cover your ears with hats and scarves.

2, when blowing your nose, you should hold down one side of the nostril, and pull out the other side with a little force, one side of the side, so as not to cause otitis media.

The blood vessels are afraid of the blood, the heart is afraid of saltiness, the intestines are afraid of forbearing. The killers of all organs of the body are only one word, and they are by our side.

It is recommended that middle-aged and old friends remember it and escape the possible injuries of various organs in order to maintain health.

referer:https://news.stanford.edu/news/2006/february1/med-anxiety-020106.html

https://www.takingcharge.csh.umn.edu/impact-fear-and-anxiety

What is the body afraid of

Our body is an organic whole. Every “part” can work properly to ensure the health of the human body. Any problem with any “part” can endanger life.

First, the heart is afraid of salt

Excessive salt, aggravating the burden on the heart

At present, the main component of salt is sodium chloride. If sodium is ingested too much, it will cause water retention in the body, increase intravascular pressure, increase resistance, and increase the burden on the heart.

Therefore, people with a bad heart will feel uncomfortable if they eat too salty. In particular, patients with heart failure need to control salt intake and water intake.

In addition to salt, MSG, soy sauce also contains salt, excessive use, which will lead to excessive salt intake.

Suggest

1, eat 6 grams of salt a day, equivalent to the amount of a beer cap.

2, it is best to choose low sodium salt, remove 20% of sodium chloride in low sodium salt, replace it with potassium chloride, not only reduce sodium ion, but also reduce the risk of high blood pressure, and potassium ion can help lower blood pressure.

  1. If you eat too salty, don’t forget to drink more water.

Second, the stomach is afraid of cold

The stomach is cold, causing contraction, cramps

For the stomach, “cold” is the most difficult to accept. Once the stomach is stimulated by cold air or cold food, it is easy to contract sputum, stomach cramps, diarrhea. People with gastrointestinal diseases know that when you have gastrointestinal discomfort, holding a hot water bottle will be more comfortable for a while.

Cold things can cause gastrointestinal discomfort, because cold can cause gastrointestinal vasoconstriction, affecting the passage of food through the digestive tract mucosa into the blood.

Stomach pain, abdominal discomfort, decreased digestion when eating cold food can cause or aggravate stomach discomfort.

Suggest

Do not directly enter the food in the refrigerator, you can heat or place it at room temperature.

Third, the kidney is afraid of meat

Excessive protein, beware of kidneys

Frequent entertainment easily leads to excessive protein intake. Long-term high protein intake increases the burden on the kidneys and even puts the kidneys in an “overloaded” state for a long time.

Protein is not limited to eggs and milk. All kinds of meat, seafood, and beans contain high protein. When you are keen on eating high-protein foods, or blindly supplementing high-protein supplements, be careful not to get tired of the kidneys.

Suggest

  1. Adults can consume 60 grams to 80 grams of protein per day to meet their needs.

2, generally 84.5 grams per kilogram of pork, 100.5 grams of protein per pound of beef. In addition, protein is contained in eggs, milk, and soy products, so calculate it so that you should not eat more than 4 meals a day.

Fourth, the liver is afraid of fat

Fatty liver, severely developed into liver cancer

Obesity is easy to cause fatty liver, and severe cases can cause liver fibrosis, which in turn develops into cirrhosis and liver cancer.

Studies have found that the liver of obese people is very aging. On average, for every 10 increase in body mass index (BMI), the “age” of the liver increases by 3.3 years.

Suggest

1, control diet plus reasonable exercise, is the best way to lose weight.

  1. When you realize that you are overweight, you will start to control your diet, ensure a good plan, and reduce your weight in stages.

3, the liver is the body’s largest detoxification organ, most drugs need to be metabolized by the liver, resulting in a high incidence of drug-induced liver damage. Therefore, the use of drugs should pay attention to its adverse reactions, do not use drugs.

Five, blood vessels are afraid

High blood pressure fluctuations, prone to accidents

The blood vessels are like a rubber hose. When it is cold, the rubber will become brittle. If the water pressure increases, it will easily crack, and so will our blood vessels.

In addition, as far as the blood vessels themselves are concerned, they also follow the principle of “cold contraction and thermal expansion”, and the hot blood vessels expand in summer and the cold blood pressure in winter decreases.

When climate changes, blood pressure fluctuations increase, leading to increased cerebral hemorrhage and cerebral infarction. Especially in middle-aged and elderly people, the elasticity of blood vessels itself is worse than that of young people, so the chance of accidents such as cerebral hemorrhage is higher.

Suggest

1, take a break early, stay up late

Because staying up late, not only yourself, the biological clock of the cardiovascular and cerebrovascular diseases will be disrupted, resulting in excessive secretion of adrenaline and norepinephrine in the body, allowing the blood vessels to contract, the blood flow is slow, and the viscosity is increased.

2, eat a blood vessel “scavenger”

Hawthorn, oatmeal, black fungus, kumquat, eggplant, sweet potato, garlic, and onion are the eight foods that can dredge blood vessels and maintain the elasticity of the blood vessel wall.

Six, the intestines are afraid of tolerance

Re-absorption of harmful substances

The stool contains a lot of bacteria and toxins, and it can’t stay in the body for a long time. Normal people need to have a bowel movement once a day.

It is a bad habit. The stool is not discharged in time, and the water is repeatedly absorbed by the intestines, causing the stool to dry out.

Toxins in the stool accumulate in the body for too long, harmful substances are absorbed by the intestines, and symptoms such as lack of spirit, lack of dizziness, loss of appetite, etc. may occur; in severe cases, intestinal cancer may be caused.

Suggest

1, do not endure bowel movements

It is a good time to defecate in the morning and after breakfast. Don’t be patient. As long as you insist on regular bowel movements, you can gradually establish a conditioned reflex of bowel movements, and you can defecate on time.

2, drink water do not endure

Many people are unaware that drinking water is related to intestinal health. Some people are too busy to even take a sip of water, and when they drink the eyes of the scorpion, they are already thirsty. I took a cup of booze and drank a stomach, which was uncomfortable for an afternoon. Therefore, don’t “bear” if you drink water.

Seven, the lungs are afraid of smoke

Smoking has a high risk of cancer

Long-term smoking, long-term exposure to second-hand smoke, and long-term exposure to smoke and dust during work are high-risk groups for lung cancer. The smoking index is used to indicate the relationship between cumulative smoking and lung cancer. The smoking index = the number of cigarettes smoked per day × the number of years of smoking.

If a smoker smokes a pack of 20 cigarettes a day for 20 years (365 days a year), which is 7300 packs, then his smoking index is 20×20=400, and the “smoking index” is >400. Should be included in the risk of lung cancer.

Suggest

  1. When is it not too late to quit smoking, now stop smoking.

2, In addition, let the family around you stay away from the harm of second-hand smoke, do not smoke at home.

Eight, eyes afraid of tired

Tired of the eyes, implicated in the internal organs

The eye is the most “sweet” organ, and the eye is the most incapable of being tired. Chinese medicine has the saying that “tired from the eye”, the eyes are too tired, it will also implicate the internal organs, such as headache, insomnia, irritability, nausea and other fatigue symptoms.

Suggest

1, usually look at computers, mobile phones, and other electronic products, every 45 minutes to rest for about 10 minutes.

2, a thumbs up

The three adjacent acupoints on the thumb are Mingyan, Fengyan, and Dakong.

Hold the thumb of the other hand with one thumb and forefinger, and stimulate the three acupuncture points with the nails, and squeeze it with slight pain, repeated 10 times.

This method has the effect of refreshing and refreshing the brain, which can achieve the purpose of quickly and effectively alleviating eye fatigue.

Nine, the ear is afraid of cold

Less blood flowing through, less energy

The ear is a cold-stricken organ, which is related to its “skinny”.

Under the thin skin of the ear is cartilage, almost no fat. Furthermore, the ear is distributed with peripheral capillaries, with less blood flowing through it, less energy and heat. Therefore, when the cold wind blows the ear, it will collapse.

The ear is so cold, you have to do warm and antifreeze work, especially those who are prone to frostbite in the ear.

Suggest

  1. When the weather is cold, you can wear earmuffs when you go out, or cover your ears with hats and scarves.

2, when blowing your nose, you should hold down one side of the nostril, and pull out the other side with a little force, one side of the side, so as not to cause otitis media.

The blood vessels are afraid of the blood, the heart is afraid of saltiness, the intestines are afraid of forbearing. The killers of all organs of the body are only one word, and they are by our side.

It is recommended that middle-aged and old friends remember it and escape the possible injuries of various organs in order to maintain health.

social problem

We have the ability to see the best of all of you,

But we still need to look at your progress objectively.

We can determine the overall frequency of human collective consciousness,

We did see the progress of each day.

You must be moving in the right direction.

Now, people around you,

Even if they don’t show you their best side,

Many of you can also see their advantages,

This is an admirable trait.

There is a range in the frequency of human collective consciousness,

a high level of this frequency range,

Will bring you closer to a complete fifth dimension experience,

You will find yourself living a good life.

In the lower level of the current frequency range,

You will find yourself living a different life,

A life that is not pleasant at all.

So this is where your ability to focus is.

Your mind tells you,

When you are in a lower frequency range,

You have to solve the problem of survival.

You have to get there,

Soil your hands,

Do work that helps humans.

Of course, consciousness is helpful,

When you focus on a social problem,

That’s because you have some treatments to do.

Not because someone told you to solve the problem.

and so,

Let your consciousness be triggered by what is happening in the world,

But you have to know,

It is your own that is triggered.

Once you feel what you need to feel,

You will have more opportunities to enter the high level of the current human collective frequency range.

You can do many good things for humans from this lofty position.

You don’t have to ignore or deny low-frequency experiences that still exist in the high-frequency range.

You can have this awareness,

Do what you need to do,

Then by raising your vibration to the best state, you can do,

Be part of the solution.

How to improve Bitcoin

The improvement of Bitcoin’s ecology includes two aspects, one is the improvement of infrastructure and the other is the improvement of application scenarios.

I think it is mainly a node problem about Infrastructure. until now there are still many limitations in current hardware, if you have a wider network and a larger hard disk, you can think outside Thinking framework and think about it. Bitcoin core should be deployed at a finer granularity in a cloud network, there is no need to deploy a personal computer or mobile phone in the mobile terminal. For example, block chain router, he can achieve super node and transaction confirmation calculations into one, it is as simple and convenient to design the transaction settlement network to find wifi. For another example, the Internet of Vehicles is now very hot in the investment circle, because the car will inevitably become the information terminal for future mobile. A car can also be a super node or a private node of a block chain. When it comes to such a state, digital finance is really like water and air, everywhere, the richer the nodes, the time lesser when the bitcoin transaction broadcasts confirmation. The shorter, the digital currency can only be developed to this stage, in order to achieve the goal of “making freedom become freedom and wealth become wealth” as stated in the CCTV feature film “Currency”.

Nowadays, many people are studying sidechains. The main reason for the research on sidechains is that the amount of information that Bitcoin blockchain can carry is too small. As the ecosystem of Bitcoin itself is perfected, this problem will certainly be solved. Of course, the agreement also divided into many layers, the development of sidechains can become a higher-level protocol that will enrich Bitcoin’s flexibility to solve real-world problems.

With the improvement of the application scene, the entrepreneurs of the currency circle are making various attempts, games, cross-border online shopping, gambling, equity crowdfunding, etc., and there are many pain points in these scenes. Games: The issuance of game currency and cross-border circulation will definitely change the current format of virtual commodity trading; cross-border online shopping : cross-border redemption issues, especially for service-oriented commodities, such as copyright trading market, creative market, design market, outsourcing service market Etc., can promote the evolution of payment, there must be a blind spot in the global payment network, for example, designers in small African countries can directly serve a cafe in China through such a payment network in their own home; True fair, probabilistic, non-cheating lottery; equity crowdfunding: the company’s stock mark and no fraud, stocks are easier to virtualizes transactions, bitcoin unforgivable mark itself has very large practical value, theoretically The smallest unit of bit currency “Cong” can mark any kind of assets, including: simple and fast multinational signature, international contract signing, judicial deposit, etc. In the financial field, paying a Cong can become an angel investor, a person’s company It can also become a public company, all of which are possible in the Bitcoin network…

Can digital currency become a national strategy?

What role does digital currency play in imagining national strategy? When Silicon Valley prophet Kevin Kelly came to Beijing headquarters in 2014, he said, “I think the Chinese government may ask for an (official) digital currency within 15 years because it provides open and detailed transaction records. Of course, this digital currency may be similar to a bank, not a bitcoin.” There is a consensus that many people agree that Bitcoin still has the potential to become a phased product, but Bitcoin technology will certainly develop in the long run. Does the government have such a claim? Absolutely there is, of course, it will certainly not be a form of bitcoin, more embedded. At the national level, the country does not need digital currency such as P2P, anonymity, anarchism, and risk of money laundering, and these characteristics are not inherent properties of Bitcoin. The essence of blockchain technology is that it is an open and transparent transaction record. We removed the anonymity of Bitcoin, extracted the p2p general ledger technology, password verification technology, and put it into a subdivided sample to see if it can solve some real problems. For example, financial transfer payments, project-specific fund management issues, pre-programmed settings are definitely more efficient than post-special audits. It can also better solve the problem of the game between the local government and the central government. When running the money, the space for rent-seeking will be compressed. For example, solving the problem of social security medical insurance, the idea of ​​using digital currency for fund management under complicated conditions can greatly improve efficiency. Everyone is in the scene of our medical insurance reimbursement, various diseases, various medicines, our country’s management system can not meet this complicated condition, can only continue to recruit people to carry out human governance, artificially created inequality, leading to extreme Inefficiency and social injustice. For example, the central bank’s currency control of banks, using digital currency can also achieve more efficient and accurate management, do not worry about out-of-control in vitro and off-balance sheet issues in the bank’s statement of accounts. Many of our macro-decisions are based on erroneous economic data. It is not said here that it is the most hated thing ,so many economists hate that. Let us think more farther. The original top-down administrative management mechanism is difficult to adapt to the ecological environment in which all things in the world are freely connected. The systems, policies, and rules of our country are all based on administrative power. Under the spur of the implementation of such a system, the underlying innovation is very small, and the time of its own evolution is very long.

Speed up the process of globalization

Even in the farthest places on the earth, the time of information dissemination only takes 0.8 seconds. The emergence of the Internet has flattened the world, and the advantage of information symmetry is no longer a patent of a few people. The emergence of Bitcoin can make the world more flat. It is too valuable to let human beings around the world recognize a monetary standard and financial agreement regardless of country, culture, race, and language. By establishing an open, transparent and verifiable system, everyone can participate in simple game rules and make it a global currency. Only then can the Earth be eligible to participate in interstellar competition.

Foreign Exchange Rate

What is the exchange rate?

The exchange rate refers to the price expressed by one country’s currency in another country’s currency, or the price between the two countries’ currencies. In the foreign exchange market, the exchange rate is displayed in five digits, such as: Euro EUR 0.9705 JPY JPY 119.95 GBP 1.5237 CHF CHF 1.5003 The minimum change in exchange rate is a point, that is, a digit change in the last digit, such as : Euro EUR 0.0001 JPY JPY 0.01 GBP GBP 0.0001 CHF CHF 0.0001 According to international practice, three English letters are usually used to indicate the name of the currency. The English after the Chinese name is the English code of the currency.

The price of exchange rate

Direct quotation method and indirect quotation method are the two types of pricing methods for exchange rate:

(1) Direct quotation method The direct quotation method, also known as the payable quotation method, calculates how many units of national currency are payable based on the foreign currency of a certain unit (1, 100, 1000, 10000). It is equivalent to calculating how much local currency is required to purchase a certain unit of foreign currency, so it is called the price-paying method. Most countries in the world, including China, currently use the direct price method. In the international foreign exchange market, the yen, the Swiss franc, the Canadian dollar, etc. are all direct price methods, such as the yen 119.05, that is, one dollar against 119.05 yen. Under the direct price method, if the foreign currency of a certain unit is more than the previous period, it means that the foreign currency value rises or the value of the local currency declines, which means that the foreign exchange rate rises; on the contrary, if you use less local currency, you can exchange it with the same currency. The amount of foreign currency, which indicates that the value of the foreign currency is down or the value of the local currency is rising, it is called the foreign exchange rate decline, that is, the value of the foreign currency is proportional to the rise and fall of the exchange rate.

(2) Indirect quotation method,which is also known as the levy method. It is based on the national currency of a certain unit (such as 1 unit) to calculate the foreign currency receivable for several units. In the international foreign exchange market, the euro, the pound, the Australian dollar, etc. are all indirect price methods. For example, the euro 0.9705 is one euro against 0.9705 US dollars. In the indirect price method, the amount of the national currency remains unchanged, and the amount of the foreign currency changes as the value of the national currency changes. If the amount of foreign currency that can be exchanged in a certain amount of local currency is less than that in the previous period, this indicates that the value of the foreign currency has risen, and the value of the local currency has decreased, that is, the foreign exchange rate has decreased. Conversely, if the amount of foreign currency that can be exchanged for a certain amount of local currency is more than the previous period, the foreign currency has decreased. The value of the local currency has risen, that is, the foreign exchange rate has risen, that is, the value of the foreign currency is inversely proportional to the rise and fall of the exchange rate. The quotation in the foreign exchange market is generally a two-way quotation, that is, the quoting party simultaneously reports its own buying price and selling price, and the customer decides the buying and selling direction. The smaller the spread between the bid price and the ask price, the lower for the investor. The quotation spread of inter-bank transactions is normally 2-3 points. The quotation spread of banks (or dealers) to customers varies greatly depending on the situation. At present, the quotation spread of foreign margin trading is basically 3-5 points, Hong Kong is at 6- At 8 o’clock, domestic banks’ firm trading ranged from 10-40 points.

In the international market, almost all currencies have an exchange rate against the US dollar. The exchange rate between a non-US dollar currency and another non-US dollar currency often needs to be calculated through the two exchange rates against the US dollar. The calculated exchange rate is called the cross exchange rate. A notable feature of the cross exchange rate is that an exchange rate involves it between two non-US dollar currencies.

What is the “point” (basic point) in the foreign exchange rate?

According to market practice, the price of foreign exchange rates is usually composed of five significant figures, from the right to the left, the first is called “X points”, which is the smallest unit that constitutes exchange rate changes; the second is called “X” Ten points”, and so on. Such as: 1 euro = 1.1011 US dollars; 1 US dollar = 120.55 yen, the euro against the US dollar from 1.1010 to 1.1015, said the euro against the US dollar increased by 5 points against the yen from 120.50 to 120.00, said the dollar fell 50 points against the yen .

Fixed exchange rate and floating exchange rate

A fixed exchange rate is an exchange rate in which the exchange rate between one country’s currency and another’s currency is basically fixed. The fixed exchange rate system was implemented in the gold standard system from the early 19th century to the 1930s and the US dollar-centered international monetary system after the Second World War to the early 1970s. The fixed exchange rate is not completely fixed, but rather fluctuates around the upper and lower limits of a relatively fixed parity. For example, after the Second World War, the fixed exchange rate system centered on the US dollar, the official parity of the currencies of the member countries of the International Monetary Fund is parity. The currency exchange rate of each member country can only fluctuate by 1% above the parity, and the central bank intervenes.

The floating exchange rate refers to the fluctuation ratio of the exchange rate between a country’s currency and another country’s currency, and is determined by the supply and demand relationship in the foreign exchange market. On August 15, 1971, the United States implemented a new economic policy, allowing the US dollar exchange rate to float freely. By 1973, countries generally implemented a floating exchange rate system. It was also from that time that the foreign exchange market continued to develop with the constant fluctuation of various exchange rates. The floating exchange rate is divided into two types: “free floating exchange rate” and “management floating exchange rate” according to whether the government intervenes. In real life, the government does not take any interventions on the exchange rate of its own currency, and there are few countries that adopt a free floating exchange rate. Since the exchange rate has a major impact on the country’s balance of payments and economic balance, most governments control the exchange rate by adjusting interest rates, buying and selling foreign exchange in the foreign exchange market, and controlling capital movement.

Characteristics of the foreign exchange market

In recent years, foreign exchange market are more and more popular.It has become the new lovers for international investors, which is closely related to the characteristics of the foreign exchange market. The main features of the foreign exchange market are:

  • No Market

The financial industry in the western industrial countries basically has two systems, namely, the central operation of centralized trading and the business network without unified fixed places. Stock trading is bought and sold through exchanges. Like the New York Stock Exchange, the London Stock Exchange, and the Tokyo Stock Exchange, which are the main trading places of stocks in the United States, the United Kingdom, and Japan, the financial products that are bought and sold collectively have uniform provisions for quotation, trading time, and settlement procedures. A trade association was established and a code of practice was established. Investors buy and sell the goods they need through a brokerage firm. This is “there is a market.” Foreign exchange trading is conducted through a network of merchants that do not have a unified operating market. It is not like a centralized location of stock trading. However, the network of foreign exchange transactions is global and forms an organization without organization. The market is connected with advanced information systems by means of mutual recognition. Traders do not have membership in any organization, but must obtain the same Industry trust and recognition. This kind of foreign exchange market without a unified venue is called “there is no market.” The global foreign exchange market trades an average of $1 trillion a day. Such huge amounts of money are in the absence of centralized facilities and without the control of a central clearing system, and the completion of liquidation and transfer without the supervision of the government.

  • Recycling operations

Due to the geographical location of various financial centers around the world, the Asian market, the European market, and the American market have become a global foreign exchange market that operates continuously 24 hours a day due to the time difference. 8:30 am (New York time) New York market opened, 9:30 Chicago market opened, 10:30 San Francisco opened, 18:30 Sydney opened, 19:30 Tokyo opened, 20:30 Hong Kong, The market opened in Singapore, opened at 2:30 in the morning, and opened at 3:30 in London. With such 24 hours of uninterrupted operation, the foreign exchange market has become a market that stays up all night, and the foreign exchange market will only be closed on Saturdays, Sundays and major festivals in various countries. This continuous operation provides investors with an ideal investment location without time and space barriers, and investors can find the best time to trade. For example, if investors buy yen in the New York market in the morning, the yen rises after the market opens in the evening, investors can sell in the Hong Kong market, regardless of where the investor is, he can participate in any market, any time. Buying and selling. Therefore, the foreign exchange market can be said to be a market without time and space barriers.

  • Zero-sum game

In the stock market, if a certain stock or the whole stock market rises or falls, then the value of a stock or the stock value of the entire stock market will rise or fall, for example, the price of Japan’s Nippon Steel’s stock will 800 yen fell to 400 yen, so the value of all Nippon Steel’s stocks has also been reduced by half. However, in the foreign exchange market, the change in the amount of value represented by the fluctuation of the exchange rate is completely different from the change in the value of the stock. This is because the exchange rate refers to the exchange ratio of the two currencies, and the change in the exchange rate is also a decrease in the value of the currency. Another increase in the value of money. For example, 22 years ago, 1 US dollar was exchanged for 360 yen. At present, 1 dollar is exchanged for 120 temporary yuan. This shows that the value of the Japanese yen has risen, and the value of the US dollar has declined. From the total value, it will change and will not increase the value. And will not reduce the value. Therefore, some people describe that foreign exchange trading is a “zero-sum game”, or more precisely a transfer of wealth. In recent years, more and more funds have been invested in the foreign exchange market, and the volatility of the exchange rate has been expanding. The scale of wealth transfer has become larger and larger, and the speed has become faster and faster. It is calculated based on the daily transaction volume of 1.5 trillion US dollars of global foreign exchange. A rise or fall of 1% means that 150 billion yuan of funds will be exchanged for new owners. Although the foreign exchange rate varies greatly, no currency will become waste paper. Even if a certain currency keeps falling, it will always represent a certain value unless it is declared abolished.

How do forex brokers conduct business?

Forex brokers earn money by helping clients to make foreign exchange investments. The broker’s main income is based on the percentage of the commission paid by each customer after each transaction is successfully paid, So the client’s money is the lifeline of the broker. Only when the continuous flow of client funds comes, the broker can get rich rewards. It is unrealistic and dangerous to imagine that it is only of a customer in long-term period.

The work of forex brokers generally is divided into two categories: One is to find new customers and recommend foreign exchange investments to suitable investors through visits; Another type of work is to analyze the market, predict trends, and help clients develop a reasonable trading strategy. These two tasks are interdependent and indivisible, Because forex brokers’ perfect forecast level can’t be reflected in the market without the right customers. There are also suitable customers without good analysis and forecasting levels. The customer’s funds cannot be added or even lost. Customers will lose soon. Although the two jobs are separate in some companies agents , the majority of brokers are one. So the job of the broker is meticulous and trivial.

Forex broker sales process and steps

  1. Understanding of the order of foreign exchange sales activities

For the broker, it is clear that each step in the sales process is the most solid basic skill for success. Sales are not very mysterious, it has its own process, Organize every step of the work and understand that the rational sequence of each step of the work can make the work more efficient.

All the steps in the sales process are combined in sequential order, The agent must grasp his or her position during the explanation process, so that interference from the target customer can also be controlled during the conversation. Even if the customer does not accept it, the broker can self-examine afterwards for the next change.

  1. Structure of the sales process in Sales process

It contains a series of steps that include from no interest in the purchase of the buyer to satisfaction with the purchased item. Its main structure has the following processes:

  • Make customers dissatisfied with the status quo. Satisfying the status quo is not a prerequisite for sales. The basic function of sales is to quickly and accurately mine each others’ needs.
  • There are three main reasons for dissatisfaction, or feelings, or fear, or self-esteem and desire. Dissatisfaction and lack of awareness will not directly promote an important purchase.Therefore, it must be strengthened into an emotional demand.
  • Emotional demand is a kind of motivation. It is not from the outside, but mainly from the inside.So you need to make customers interested in what they buy.
  • After the interest is caused, the wish will not be automatically generated.The only way to generate aspiration is to make the customer’s heart cause fluctuations by strengthening the feelings, this will make customer feel like it is lacking.
  • The emergence of emotional needs often causes customers to stop suddenly,because being controlled by emotions will regret your later actions.At this time, the outside world needs his self-verification to prove that his choice is correct and sensible.

The above five sales processes are the sales process of general merchandise. There are also these five processes in the process of developing foreign exchange customers, but the focus of some links will change. In the invisible sales process of foreign exchange, customers will make many rejection opinions, these opinions need to be more carefully identified, and some opinions are only made by customers to cover up their ignorance. Moreover, the greater the prospective customer opinion, the more he is interested in foreign exchange investment, because there are doubts when thinking.

  1. Sales introduction skills
  • the power of listening

In the process of communicating with customers, it is not said that the broker must continually publish a macro theory, but should grasp the timing of his own speech. When you take the topic away, you should prompt the client to say more, keep the habit of listening, and let the customer think about expressing their opinions. The client will reveal his true thoughts when he speaks, which will make the interview more effective. And the psychology of the average person is like to be self-centered. The agent’s expression of listening carefully is also easier to get the other person’s goodwill, and is more able to communicate in the emotional.

  • Seize the signing opportunity

The purpose of the interview is to sign the contract. Unless the broker succeeds in facilitating the signing, any results during the meeting are void. So the broker is ready to make a deal anytime and anywhere in the conversation. From the beginning to the end of the meeting, the broker must seize the opportunity and pay attention to any signs that may lead to the signing. For example, the customer suddenly interjected such questions, “How much do I need to invest?” What procedures do I have to do?” These are good opportunities to sign up, At this time, it is necessary to take out the company’s professional contract and try to sign the contract. If it is not successful, you can continue to explain other content. Constantly trying to urge customers to sign up, no matter how many times he says “no”, the broker only needs to get a “yes”.

 

Three major foreign exchange markets

The foreign exchange market is a system for foreign exchange trading and foreign exchange speculation.The foreign exchange market refers to financial institutions such as banks, proprietary traders, and large multinational companies. A trading market connect through an intermediary or telecommunications system that buys and sells in various currencies. It can be tangible—such as a forex exchange ,it also can be an invisible—such as an interbank foreign exchange transaction traded through a telecommunications system. With the increasing electronic and networked, foreign exchange quotations, inquiries, buys, sells, deliveries, and liquidations are replaced by computer networks. So we say that the current foreign exchange market is an invisible market and a paperless market for computers.

At present, there are about 30 major foreign exchange markets in the world, which are spread across different countries and regions on all continents of the world. According to the traditional geographical division, it can be divided into three parts: Asia, Europe, North America, etc. Each market has its own fixed and unique characteristics, but all markets have commonalities. Each market is separated by distance and time, and they interact each other and are independent. Once a market is open every day, orders are passed to other foreign exchange markets, sometimes setting the tone for the opening of the next market. These foreign exchange markets are centered on the city in which they operate. and radiate to other countries and regions around them. Due to the different time zones, the foreign exchange markets are open to each other during business hours, and they are connected to each other through advanced communication equipment and computer networks. Participants in the market can trade around the world, the flow of foreign exchange funds is smooth, and the exchange rate differences between markets are extremely small, forming a unified international foreign exchange market that operates globally and operates around the clock. The three major foreign exchange markets are: Tokyo foreign exchange market, London foreign exchange market and New York foreign exchange market.

  • Tokyo foreign exchange market

The Tokyo market is Asia’s largest foreign exchange market, but it is the smallest of the three foreign exchange markets. Its market has to some extent continued the trend of the London and New York markets the previous day. In addition, during this period of time, the yen will also be affected by the Japanese economic elite’s comments on the exchange rate and the release of important data on the Japanese economy.

Traders in the Tokyo foreign exchange market are foreign exchange banks, foreign exchange economists, non-bank customers and Japanese banks. Trading time is 8:00-14:30 (Beijing time). The trading volume of the Tokyo foreign exchange market is relatively single, mainly in USD/JPY and EUR/JPY. In the transaction, the general market is relatively flat, but in the future transactions, we must pay attention to the speculative role of Japanese exporters. At this time, the yen has experienced significant fluctuations in the foreign exchange market. Example: On Wednesday, October 23, 2002, USD/JPY was suppressed in the Tokyo market and quickly fell from 1 USD = 125.26 yen to 1 USD = 124.00 yen.

  • London foreign exchange market

London foreign exchange market is the world’s old financial center. It is also the earliest place for foreign exchange trading to start. Its long history has led banks to habitually choose to trade bulk commodities during the opening hours, so the drastic fluctuation of the foreign exchange market has also begun. In other words, if investors choose to conduct foreign exchange transactions during this time period, it is a good time. The exchange rate will also be affected by the news during this time period.

  • New York foreign exchange market

The New York market rose during World War II, but it is the fastest growing financial market. Since the United States is the center of large-scale global capital flows, it has a great impact on the currency market. Some commodity transactions in the London market will wait until the opening of the New York market. As the most active foreign exchange market in the world, investors are more inclined to trade during this period in order to make more profit.

Participants in the New York foreign exchange market are branches of large commercial banks and foreign banks in the United States , famous Chinese institutions include Bank of China New York Branch and some professional forex brokers. The New York foreign exchange market is not only a domestic foreign exchange trading center, but also an important international foreign exchange market. Trading hours are from 22:00 Beijing time to 5:00 the next day. Due to the overlap between the trading hours of the New York market and the London market , the market was the most active during this period, with the largest volume of transactions and a large proportion of market volatility.

Prime time of trading

There is no foreign exchange exchange in the foreign exchange market, so there is no concept of opening and closing, it is mainly based on the normal working schedule of local people. The peak of the general transaction will appear between 9:00-17:00 on the local normal working day. Therefore, relatively speaking, the local currency is active during the trading hours of the local market. Among the three major foreign exchange markets, the London and New York market hours are the most intensive. Therefore, during the period when the two major trading markets in London and New York coincide (20:30-24:00 Beijing time in summer time), the market is most volatile, which also provides investors with greater profit opportunities for entering the market.

Non-prime time of trading

Friday: Due to some unexpected news that may occur on the weekend, in this case, the risk of trading in a position over a week is higher.

Holidays: Some banks may be closed, trading volume is light, the price fluctuations are small at this time, the profit margin is not large, it is not suitable for trading.

Weekend: The foreign exchange market will never have a strict closure, but in fact all major banks and traders are closed on weekends. The mobility on the weekend is so small that it does not offer traders many trading opportunities. When some basic news is announced on the weekend, some price changes may occur, but basically the movements of the currency pair are negligible and the trading volume is very small, which makes the execution of the transaction difficult. Therefore, the FXCM trading platform will close at 5 pm EST on Friday and reopen at 5 pm EST on Sunday.

Major event occurs: If the non-agricultural data is released and the US presidential election and the prospects for price movements are uncertain , the risk of entering the market is greater.

In the foreign exchange market, we are the smallest traders and participants. In foreign mature markets, foreign exchange trading also includes middlemen, brokerage firms, central bank international companies and some fund institutions.

Intermediary refers to the main commercial banks. In the general market, their quotes are exchange rates between currencies, and other participants in the foreign exchange market usually ask these commercial banks for the exchange rate they can provide. The brokerage company cannot directly report its own exchange rate. They pass the intermediaries’ quotes to other market participants. The brokerage company will only open the inquiry party after the determined commercial commitment. The transactions completed by the brokerage company account for 40% of the total trading volume of the foreign exchange market. International companies are often internationally renowned multinational companies with subsidiaries throughout the world. Participation in the foreign exchange market is an integral part of their international trade. Some companies also have their own foreign exchange trading rooms, specializing in foreign exchange transactions.

The current foreign exchange market can be called the global foreign exchange market, because the global time difference connects the business hours of the foreign exchange markets around the world, and can be traded without interruption. This formed a unified big market.

Approaching the forex broker

With the rapid spread of the domestic foreign exchange market and the chaotic market environment in the previous period, many investors have been gone,but they have not returned. At present, the foreign exchange market is still in a hot period. This statement is nothing wrong, because the domestic foreign exchange market has just opened. There is still huge potential for development, but it has slowly entered the stage of strength competition.

Professional matters still need professional people.

How to make a stable profit in foreign exchange investment? It doesn’t depend on the luck, it involves all aspects, including technology, strategy, risk control, and mentality. However, most investors are up for a while, and their investment is accidental. At last, there is a huge loss and there is no return. Instead of concentrating on spending money on the trading market to buy lessons and knowledge, it is better to rely on solid funds to manage the funds, then you will have a stable income and cleanliness. Therefore, professional matters still need to be handed by professional people, such as professional investment institutions or companies, asset management companies, private equity funds, etc. Although domestic institutions or companies are still relatively poor, with the development of foreign exchange investment Demand, similar investment model will be one of the important directions for the development of the follow-up market, let us wait and see!

The broker (IB) can be known as a twist belt and bridge in the foreign exchange market. He is a twist band and bridge between the platform and the customer. If there is no the broker (IB) in the platform, there will be no direct Contact and relationship between the customers and the platform. The current status of brokers (IB) and how to be a good broker (IB) is really important. With the development of the market and investors’ perception of the foreign exchange market, the requirements for brokers (IB) are getting higher and higher, what needs to be done becomes more and more, attracting customers in a single way can no longer meet market requirements.

Whatever the broker (IB) is, the following core competencies  need to be done.

  1. Expertise: He can transfer professional knowledge to investors and let them learn continuously so that they can get more profits in the market.
  2. Service: As long as the service is done well, the investors can get more information from it, there will be more customers.
  3. Profit: Investors invest in profit-oriented. If investors can get more income with the help of Forex Broker (IB), this is the most attractive place for customers.
  4. Other added value, etc.: Only utilizing these aspects comprehensively, the broker (IB) can obtain high salary in the foreign exchange market.

Job Responsibility

  1. Let customers know about financial products through the form of network, and provide investment and financial consulting for customers.
  2. Develop new markets, develop new customers, and increase customer understanding of financial products
  3. Responsible for providing customers reasonable financial advice, and formulating corresponding investment strategies.
  4. Maintain customer relationships, communicate with customers, and conduct financial services to customers.
  5. Complete the tasks and goals set by the company and the team according to the marketing plan

CCTV Securities Information Channel on IB Mode of Foreign Exchange Market

IB refer to the broker model: IB can be understood as a bond and bridge in the foreign exchange market. He is the link and bridge between the platform vendor and the customer. Without the IB, the platform vendor and the customer will lack in direct contact and relationship.

Mainstream business model of foreign IB market

In China, the IB market business model is mainly divided into three modes, including service agents, analysts agents and trade agents. The above three are also covered in foreign countries. In addition, foreign countries also have different business models.

First of all, taking analysts agents as an example, it has been developed to send signals with APP on abroad. Operating in one mode of APP does not require customer service to attract customers. Everyone can automatically search for APP and then get the trading signals to make a trade.

Secondly, it is also possible to find a better trade agent in foreign countries, because the trade records of foreign traders usually look for accountants to verify some transaction records in the past. Some domestic transactions may be fake.

Lastly, there is the big difference between the mainstream business models in the IB market at home and abroad. One model that is better in foreign countries is what we call a system. These agents are actually not in contact with customers. However, many agents in foreign countries may be at the knowledge level, then doing a relatively deep establishment and forming a customer base, forming a flow, guiding these traffic to the platform, charging a proxy fee, this way is not linked to the transaction .

According to this model, there are very few in China. The main domestic service agents are three types of agent models, analysts agents and trade-off agents. The possibility of guiding traffic is more in some media, it is rarely said to introduce traffic in a proxy mode, then let customers automatically convert on the platform. One-time account opening fee, which is relatively small.

Learn business model or thinking

The development of the domestic foreign exchange market is slightly behind for a few years compared to foreign countries, but the domestic foreign exchange market has developed rapidly. Perhaps the most important thing to learn from the foreign IB market is the risk control. At this stage, the domestic agent is too fancy for immediate benefits, such as how much commission the customer can give to the transaction. In foreign countries, it may be more focused on education, it is not linked to customer transactions, so there will be no conflict of interest. The volume of transactions is greater than before ,the greater the profit point of the customer agent. But the transaction process is very painful and very difficult.

In summary, it may be difficult in the short term. However, we must develop in this direction, and the foreign exchange market will be healthier.

What should be paid attention to by the forex broker during the transaction?

  • Private transactions without the authorization of the customer.

Brokers are on the front line of trading and often find some better trading opportunities. Some brokers worried missing opportunities to place orders without asking for customers. Although their subjective wishes are good and they want to make money for customers, this is not unwise and illegal. First of all, the broker must clarify that the funds are customers, and that they have no right to control. Even if the relationship between the two is close, they have no right to arrange the role of investors.

  • Misleading customers, frequent market entry

The main income of the broker is derived from the commission paid by the customer after entering the market. The transaction is more active, the commission is higher, so the broker’s nature is to encourage customers to trade as much as possible. But frequent transactions can easily damage the interests of customers. Because every time you enter and leave the market, customers need to pay a handling fee. Even if there is no loss, the handling fee will use the customer’s funds. And the frequent entry into the market actually means that the broker does not have a clear market view.

  •  Fear of risk, market analysis is ambiguous

The job of the broker is to analyze and forecast market trend for the client. The client decides the investment direction based on these suggestions, so the broker’s forecast largely determines the profit and loss of the client’s investment. Some brokers are afraid to take risks and not dare to make clear decisions when predicting the market. He simply list the market’s news, fundamentals and technical aspects, and the reasons for bullish bearishness , which caused confusion for customers and could not enter the market.

  • Unstable emotions affect customer mentality

In the investment, “to win without pride lose with grace” is the principle that every trader and broker must follow. Controlling emotions is really important for the broker and it will directly affect the customer’s mentality. Some brokers have increased their self-confidence after helping their clients to make profits. They are arrogant, they are not able to listen to customers’ opinions, and even obstruct customer decisions. When they lose money, they are afraid of placing orders and missed opportunities. In fact, there is no long-term victory in the transaction. As long as you are in foreign exchange, you should not think that you must be a winner. Most of the losses often occur on those who think they are successful traders and brokers.