In response to the Philippine government’s “Stay At Home” directive as part of the ongoing enhanced community quarantine, Union Bank of the Philippines (UnionBank) continues to process a growing number of digital transactions and remains business-as-usual (BAU), throughout the ECQ.
For the month of March, UnionBank logged a nearly 160% in
daily sign-ups to its online and mobile banking portals, and enabled more than
500,000 credit card transactions and well over 1 million Instapay and PesoNet
fund transfer transactions. Importantly, the bank waived all its fees on
InstaPay and PesoNet since the start of the ECQ and has extended this to April
30.
Most significantly, UnionBank also registered a tremendous
surge in new accounts opened “100% digitally” through the UnionBank Online
platform, as this was 2700X higher than year-ago levels.
These
robust figures come amid reports from several consumer monitoring groups that
the behavior of banking customers may be changing, preferring to use digital
channels during the lockdown.
UnionBank
president and CEO Edwin Bautista said the coronavirus crisis could be the
turning point in customers’ shift-to-digital –
to safely access their funds, do transfer, make payments and apply for credit.
“This
represents a tremendous new opportunity for banking in the country as this
should reduce the number of Filipinos who remain unbanked. As this
happens, we at UnionBank are fully prepared with the digital infrastructure
already in place to offer full banking services to more people, more
conveniently and more cost-effectively,” Bautista said.
Along
with its digital platforms that enable the public to bank from home, UnionBank
also rolled out its 5G-enabled mobile van
called 5G-Bank On Wheels (5G-BOW) to serve people’s banking needs during the
ECQ.
With its 5G-BOW clients can withdraw, pay bills, transfer funds,
open an account and do balance-inquiries with faster, more robust bandwidth and
internet connections, powered by its unique 5G technology.
In terms of its brick-and-mortar branches, UnionBank was able
to keep 94% of its branches open, outside of those in medical
quarantine and local lockdown areas; while safely keeping close to 90% of
employees working from home in compliance with government guidelines.
By Paul Jones, Head of Technology, SAS UK & Ireland
Fintechs are
turning up the heat in retail and corporate banking. As smaller, more agile
providers have entered the banking market, customers are getting used to a
higher level of service – a personalised, digital experience that guides them
to make quicker, smarter decisions about their finances. For traditional banks
to compete, they need to transform the way they operate. On the retail banking
side, that means digitising customer-facing services. No queuing in branches,
no paperwork. And when customers apply for a credit card or loan, they get a
decision in seconds.
Meanwhile, on the corporate
side, the aim of transformation is often to enable an
everything as a service (XaaS) strategy, building smart packaged offerings
such as treasury as a service or risk management as a service, which the bank
can both consume in-house and provide to enterprise clients.
Data-driven digital
transformation
To foster this type of
digital business transformation, banks need to redesign both internal and
customer-facing processes to embed data-driven decision making. By integrating
intelligent automation and decisioning capabilities into their operations,
banks can eliminate paperwork and manual processing. This will greatly improve
service levels to customers while keeping the cost-to-serve to a minimum.
The creation of these
data-driven services depends on the ability to design, build, test and deploy
processes that embed predictive models using both well-established statistical
methods and new artificial
intelligence and machine learning (AI/ML) techniques. The development
life cycle for these models is inherently experimental. It’s vital to try
different approaches, test the results, and iterate on the candidates that
offer the greatest potential. To remain relevant in the digital age,
organisations must deliver such experiments with agility and speed.
The obstacle of legacy
infrastructure
The problem is that banks’
traditional IT architectures – built around legacy on-premises systems – are a
uniquely bad environment for developing these models. Due to the experimental
nature of the models, it’s very difficult to forecast what type of
infrastructure banks will need for upcoming projects. For example, different
machine learning algorithms run best on hardware that has been optimised for
that category of model building. If you invest in a cluster of servers with a
particular configuration of memory and processors, it may only be suitable for
a small subset of the work you actually need to do. And every time you need to
change your approach, you’ll face high fixed costs and a long lead time to get
the right infrastructure in place.
Instead, you need an IT
architecture that allows you to set up experiments quickly and manage them
flexibly. When an idea doesn’t work out, you should have the ability to fail
fast and cut your losses. And when an idea succeeds, you need to get it into
production rapidly and roll it out for enterprise-scale deployment.
The promise of cloud-based
analytics
The cloud is the perfect
environment for these exploratory projects. It gives you the freedom to spin up
almost any type of infrastructure within minutes, and either scale it or shut
it down instantly depending on the results.
Cloud environments also free
you from dependencies on departmental silos and the quirks of your internal
network. They give you a green-field site where cross-functional teams can
collaborate freely, enabling you to build models that combine domain knowledge
from different areas of the bank and create opportunities for XaaS offerings
that would never have been possible in the past.
Regulatory hurdles
While most of the major
public cloud providers now offer a range of analytics-specific infrastructure
services, they come at a price. Once your data and models live in a particular
proprietary cloud repository, they can be difficult to get out again. You’re
locked into their infrastructure for the foreseeable future.
Besides the commercial
implications, this lock-in poses a major regulatory problem for banks.
According to the latest
consultation paper on outsourcing and third-party risk management from
the Prudential Regulatory Authority (PRA), regulators expect banks to be able
to port any outsourced services over to another provider or bring them back in
house without any risk to business continuity.
The right tool for the job
I’ve had conversations about
moving to the cloud with CIOs at banks of various sizes, and this issue of
portability has been a recurring theme. They are looking for analytics
solutions that work with any vendor and run on any cloud platform – or move between
platforms – without significant disruption. In fact, since many banking use
cases involve analysing data that is too sensitive to store outside the
internal network, one of the most-requested offerings is a hybrid
cloud/on-premises solution. Banks could then perform experimental projects with
anonymised data in the cloud and then bring the successful models back into
their own data centre for deployment in production.
Finally, while there’s a lot
of buzz around AI/ML techniques, it’s important to recognise that they are not
always the best option. Traditional statistical methods can be equally
powerful, cost less to maintain, and can be easier to explain and audit – an
increasingly important capability, as a
recent legal case in the Netherlands demonstrates. My advice is always
that banks should look for a single platform that gives equal support to both
statistical and AI/ML modelling techniques and provides easy-to-use
visualisations that make models easier to
interpret. This allows your data scientists to pick the best tool for the
job. And makes it easier for you to ensure the safe and responsible use of your
data.
We’re working with a number
of leading banks to power their digital transformation initiatives and build
towards the XaaS future in the cloud. Find out more about what’s possible
with cloud
computing.
Sharing
the Green Deal vision of sustainable transport and a carbon neutral Europe by
2050, two leading companies in the commercial vehicle industry, Daimler Truck
AG and the Volvo Group, have signed a preliminary non-binding agreement to
establish a new joint venture. The intention is to develop, produce and
commercialize fuel cell systems for heavy-duty vehicle applications and other
use cases. Daimler will consolidate all its current fuel cell activities in the
joint venture. The Volvo Group will acquire 50% in the joint venture for the
sum of approximately EUR 0.6 billion on a cash and debt free basis.
“Transport and
logistics keep the world moving, and the need for transport will continue to
grow. Truly CO2-neutral transport can be accomplished through electric drive
trains with energy coming either from batteries or by converting hydrogen on
board into electricity. For trucks to cope with heavy loads and long distances,
fuel cells are one important answer and a technology where Daimler has built up
significant expertise through its Mercedes-Benz fuel cell unit over the last
two decades. This joint initiative with the Volvo Group is a milestone in
bringing fuel cell powered trucks and buses onto our roads,” says Martin Daum,
Chairman of the Board of Management Daimler Truck AG and Member of the Board of
Management of Daimler AG.
“Electrification
of road transport is a key element in delivering the so called Green Deal, a
carbon neutral Europe and ultimately a carbon neutral world. Using hydrogen as
a carrier of green electricity to power electric trucks in long-haul operations
is one important part of the puzzle, and a complement to battery electric
vehicles and renewable fuels. Combining the Volvo Group and Daimler’s
experience in this area to accelerate the rate of development is good both for
our customers and for society as a whole. By forming this joint venture, we are
clearly showing that we believe in hydrogen fuel cells for commercial vehicles.
But for this vision to become reality, other companies and institutions also
need to support and contribute to this development, not least in order to
establish the fuel infrastructure needed,” says Martin Lundstedt, Volvo Group
President and CEO.
The Volvo Group
and Daimler Truck AG will be 50/50 partners in the joint venture, which will
operate as an independent and autonomous entity, with Daimler Truck AG and the
Volvo Group continuing to be competitors in all other areas of business.
Joining forces will decrease development costs for both companies and
accelerate the market introduction of fuel cell systems in products used for heavy-duty
transport and demanding long-haul applications. In the context of the current
economic downturn cooperation has become even more necessary in order to meet
the Green Deal objectives within a feasible time-frame.
The common goal
is for both companies to offer heavy-duty vehicles with fuel cells for
demanding long-haul applications in series production in the second half of the
decade. In addition, other automotive and non-automotive use cases are also
part of the new joint venture’s scope.
To enable the
joint venture, Daimler Trucks is bringing together all group-wide fuel cell
activities in a new Daimler Truck fuel cell unit. Part of this bundling of
activities is the allocation of the operations of “Mercedes-Benz Fuel Cell
GmbH”, which has longstanding experience in the development of fuel cell and
hydrogen storage systems for various vehicle applications, to Daimler Truck
AG.
The joint
venture will include the operations in Nabern/Germany (currently headquarters
of the Mercedes-Benz Fuel Cell GmbH) with production facilities in Germany and
Canada.
The signed
preliminary agreement is non-binding. A final agreement is expected by Q3 and
closing before year-end 2020. All potential transactions are subject to
examination and approval by the responsible competition authorities.
Facts:
Fuel cells and hydrogen as fuel • A hydrogen fuel cell converts the chemical energy of the fuel, in
this case hydrogen, and oxygen (in the air) into electricity. The electricity
powers the electrical motors that propel an electrical vehicle. • There are two main ways to produce the hydrogen needed. So-called green
hydrogen can be produced locally at the gas station, using electricity to
convert water into hydrogen. Blue hydrogen is expected to be produced from
natural gas, utilizing carbon capture technology to create a carbon neutral
fuel.
2020-04-21
For further
information, please contact: Claes Eliasson, Volvo Group
Media Relations, +46 31 323 72 29 Florian Martens, Daimler
Trucks & Buses Media Relations +49 160 8687552
There aren’t many sports that have been hit harder by the
outbreak of COVID-19 than horse racing. Some of the biggest events on the
racing calendar have already been lost, while some remain hanging by the
thinnest of tightropes.
Racing continues to take place in Australia, the USA and
various parts of Europe, but not all countries have been as fortunate. The
lucrative industry has been hit as most of businesses have, even though online
gambling seems to be on the rise due to the self-quarantine inflicted to
millions of people.
However, which events
on the horse racing calendar have been lost, which ones have face criticism,
and which have been re-arranged for a later date?
Kentucky Derby
Few would argue against the Kentucky Derby being the biggest
race of the year, and it is huge for the American industry. That is highlighted
by the amount of money that is gambled on the race day, with the 2019 event
eclipsing records. The 14-race card saw over $227.5 million gambled, while the
Kentucky Derby itself saw around $150 million worth of bets. The Kentucky Derby
is the most attended event on the US racing calendar, and that meant that cancelling
the event altogether wasn’t an option.
Instead, for the first time this year, the Kentucky Derby
will be taking place as the final event of the Triple Crown as opposed to the
first. The event was cancelled in March, as it was revealed that it would
instead take place on the 5th September. Nonetheless, you can still place your bets on the
Kentucky Derby through Twinspires.com.
This marks the first time since 1945 that the event has been
suspended. The Preakness Stakes and Belmont Stakes are still slated to go ahead
on their original dates.
The Grand National
The most lucrative betting day in the United Kingdom didn’t
go ahead as planned for the first time since the Second World War. The decision
to cancel
the event meant that the betting industry in the UK lost half a billion
pounds, while Tiger Roll missed his opportunity at making history by becoming
the first horse to win three successive Grand Nationals.
The horse racing industry did still put a show on for racing
fans however on Grand National day on the 4th April, as a virtual race was
broadcast, with all proceeds going towards the NHS. The event raised £2.6
million for the service, while the virtual race was won by Potters Corner.
Cheltenham Festival
Just a few weeks before the Aintree Festival, there was the
Cheltenham Festival, which is the most prestigious jumps festival of the year.
That event went ahead as planned, but organisers have already drawn criticism
for their decision to do so. There were
reported symptoms shown by some that attended; including
Andrew Parker Bowles.
However, the Jockey Club reiterated that they accurately
followed all the guidelines that were put in place by the British government at
the time. The Cheltenham Gold Cup on Friday 13th March was the final noteworthy
sporting event to take place in the UK as the Premier League announced that it
would be suspending fixtures on the same day.
Royal Ascot
The biggest flat festival of the season in the UK is still
planning to go ahead as planned, but this year it will take place behind closed
doors. The event is famous for those attending to get dressed up smart, while
Queen Elizabeth has been known to visit most days. The festival is due to begin
on the 16th June, but the announcement that it would be taking place behind
closed doors was made on the 7th April.
The organisers admitted that they were pressing ahead with
the event, but no spectators would be able to attend. However, the statement
released also admits that there is still a chance that the event may not take
place at all. The organisers will have to follow the guidelines by the British
government and the BHA, who have currently suspended all racing in Britain
until the end of April.
Right now the
world is facing the worst economic downturn since the Great Depression and many
people across the world are going through extremely hard times.
But we also need
to try and focus on the compelling positives there are now to create,
build and safeguard money to reach our financial goals for ourselves and our
loved ones.
The message from
Nigel Green, founder and CEO of deVere Group, one of the world’s largest
independent financial advisory organisations comes as the International
Monetary Fund (IMF) projects global growth in 2020 to fall to -3 per cent. This
is a downgrade of 6.3 percentage points from January 2020, clearly a
significant downward revision within a very short time period.
Nigel Green
comments: “The world has changed considerably in the first quarter of 2020.
Coronavirus has sparked a truly global crisis like no other, with a
horrifyingly high and tragic number of human lives lost.
“It has also been
a monstrous source of economic upheaval and uncertainty for households,
businesses and governments.
“But in these
most unusual of times, it’s essential to seek the positives and there are
increasingly significant reasons within the market to be cheerful.
“Looking beyond
the gloom, many investors are using these to create, build and safeguard their
money right now.”
He continues: “I
believe that there are three main investment reasons to be cheerful.
“First, the
market is cheap by historic standards and this represents a major, perhaps
once-in-a-generation chance to buy top quality equities at lower prices to
bolster investment portfolios. History shows that stock markets always go
up over time.
“Second the
worldwide loosening of monetary and fiscal policies. This will serve as a
bridge for economies until the crisis passes and will go a long way to boost
both supply and demand across all sectors. In turn, this will lead to more
investment, increased confidence, and longer-term job and wealth creation.
“Third, pent-up demand
will hit the global economy when lockdowns are lifted. Many people have not
lost their jobs or suffered reduced incomes and have saved money during the
lockdown. We can expect demand in sectors such as autos, travel, hospitality
and entertainment to be strong.”
Whilst some
investors appear to have not only locked down themselves, but also their
financial strategies, increasingly both retail and institutional investors are
“rightly looking beyond only the dark picture,” says Mr Green.
The deVere CEO concludes.
“No economy – developed or emerging – has been spared this downturn, the worst
since The Great Depression. The uncertain economic landscape is impacting on
people’s lives and livelihoods.
“However, I also
would urge investors to mitigate risks to their money and help create and grow
wealth by looking towards the undeniable and compelling positive
areas amid this tragic and unprecedented global situation.”
We are living in unprecedented times with a
global pandemic that has killed hundreds of thousands and countries all over
the world ordering their citizens to self-quarantine.
With the suspension of all but the most critical
industries business owners and governments alike are preparing for the arrival
of a global recession – one which is feared to be far more devastating than
the Great Depression and the 2009 Global Financial Crisis.
Given that COVID-19 spreads via water droplets
expelled from an infected person,social distancing measures have been
implemented in order to help break the chain of infection with many governments
enforcing a strict curfew.
Now with the United States becoming the
epicenter of the pandemic, entire industries including casinos have been left
in a lurch. According to a report by the American Gaming
Association (AGA), the industry is slated
to lose an estimated $21.3 billion in direct spending from consumers
alone.
Here, we take a look at how we can expect the
outbreak of COVID-19 to change the face of online gambling.
1. A Massive Increase in Customers
In early-April, Nevada’s
Clark county reported more than 1000
COVID-19 cases and almost 30 deaths which prompted Governor Sisolak to order a shutdown of
all casinos in the state despite severe pushback from various stakeholders
including the Mayor of Las Vegas, Carolyn Goodman (I).
With almost all casinos in the United States
shutdown, punters all over the country have turned to online gambling for all
of their gaming needs. This has resulted in a windfall for online casinos
everywhere with a nearly 50% increase in
revenue with punters avoiding land-based casinos in favour of online ones.
Given that the COVID-19 pandemic has shown no
signs of letting up and with a vaccine far off, the remainder of 2020 and 2021
is set to be a good year for the online gambling industry.
As the global economy grinds to a halt and
uncertainty reigns supreme, many have begun to ask the question – will things
ever be the same again? According to many experts, the answer is a resounding
no.
The highly contagious nature of the COVID-19
virus and the variety of health complications means that social distancing
measures will have to be practiced for the foreseeable future or until a
vaccine is developed – which is highly unlikely.
Until a solution is found, it is highly likely
that online casino betting will be able to enjoy an unprecedented increase in customers.
2. The Entry of New Competitors
While some may point out that casinos in Macau –
the world’s largest gambling hub were able to resume operations after just 15
days, the stark reality is that things are far from normal. Casino floors are
relatively empty and foot traffic remains low with many punters staying away
from crowded areas.
Given the relatively low-barriers for entry and
a market filled with investors hungry for opportunity, it is only a matter of time before new competitors begin
appearing on scene. This can potentially be a problem for current online
casinos who may want to consider diversifying their range of games offered.
With sports betting also affected by the lockdown,
punters have begun turning towards online casinos and slot games for their
gambling needs which may in turn encourage bookmakers to open up their own
online casinos in order to capitalize on shifting market demands.
3. Stricter Compliance
Casinos and other gambling outlets have always
been closely monitored and regulated by government bodies given the nature of
the business. Now with the economy taking a turn for the worst and with jobs at
stake, people are likely to be more anxious and stressed which in turn leads to
compulsive gambling and other risky behavior.
This has forced governments everywhere to
introduce more stringent regulations with regards to gambling, these measures have included
restricting advertising, minimizing payouts and even banning gambling outright
in some areas.
Given the current state of affairs and the
increased levels of vigilance, online casinos and gaming sites may begin
imposing limits on bet sizes and practice more thorough screening of
punters.
4. Potential cash flow issues
Whilst the online casino business is and has
always been a solid one, it is not entirely recession-proof. As businesses all
over the world shut down or scale back on their operations, employees and
business owners everywhere face the very real prospect of losing a significant
portion of their incomes.
This in turn overlaps onto the online betting
industry as punters begin to suffer from problems related to cash flow.
Initially, the effects may not be tangible as we are yet to feel the true
impact of a pending global recession.
Only when businesses begin to shut down and
unemployment numbers rise 6 to 8 months down the line, will we begin to see a
drop in revenue and takings. Consequently, operators should seriously consider
putting aside cash reserves for the lean months ahead in order to stay afloat.
As the old proverb goes, “All Good Things Must
Come to an End”, so will the windfall from the sudden influx of new punters.
The COVID-19 pandemic is unlike anything that humanity has seen in over a
century and even the most resistant of industries will not be safe.
UBX,
the fintech company of Union Bank of the Philippines (UnionBank), recently
started deploying a rapid and remote mobile-enabled ATM solution in response to
COVID-19, as part of its i2i platform.
With i2i Mobile ATM, rural banks and financial cooperatives across the Philippines
are enabled to pay-out a wide range of government subsidies direct to
beneficiaries in the historically underserved countryside. This will help
address the growing need to access cash, as a result of the extended enhanced
community quarantine (ECQ) in Luzon, the largest and most populous island in
the country.
i2i’s
Mobile ATM technology works just like a standard
ATM and allows rural banks, financial cooperatives, their agents and associated
merchants to offer cash out and balance inquiry transactions for all locally
issued debit/ATM cards. Financial institutions that avail of i2i Mobile ATM receive
i2i Mobile ATM devices within days of signing up. They are enabled to pay-out government
subsidies and positioned to participate in the emergency
subsidy program under the Philippine government’s Bayanihan to Heal as One Act.
UBX
developed this state-of-the-art mobile ATM in partnership with leading Irish
Financial Services Group, Fexco. Fexco
currently employs more than 2,400 people across the globe, focused on
delivering technology enabled financial services to a wide range of banking and
fintech partners, and this initiative with UBX will build on the existing
partnership in the Philippines.
Cathal
Brendan Foley, CEO of Fexco Philippines, said: “We are very pleased to
be partnering with UBX to assist Filipinos in this time of need. This
partnership will allow us to rapidly deliver crucial financial services to
consumers across the UBX and UBP banking partner network. Fexco and UBX are
both dedicated to enhancing financial inclusion for both the businesses and the
people of the Philippines.”
UBX’s
i2i Network is the fastest-growing and largest network of financial
institutions including rural banks, thrift banks, savings banks, cooperatives
and other non-banking financial institutions. Since launching its
technology platform in April 2019, the i2i Network is over 110 members strong
with nearly 1,000 branches between them.
John
Januszczak, CEO of UBX Philippines, said: “By digitally connecting
community-based financial institutions best positioned to serve the financially
excluded, the i2i Network and i2i Mobile ATM are extremely well poised to
support our government’s effort to contain the pandemic while enabling the
provision of much needed relief to those affected.”
The way different companies used to do
business has been changed dramatically in the last few years. Now, there are
the latest and modern solutions for companies and businesses in order to enhance
their productivity and grow their businesses.
Managed services for businesses have genuinely revolutionized the start-up culture. There are different kinds of service providers for your business all around the globe. It means you don’t have to a separate department for everything. Instead, you can just get managed services. For example, Managed IT services for small and mid-sized organizations are easily available, and you can easily take benefits from it.
Here are some of the reasons that make
managed IT services a must-have for your business:
Efficient and
Reliable IT Operations
When it comes to IT operations, you need to
have an efficient and reliable team to take care of the important things. It is
only possible when you have a team full of experts to perform on-demand
IT support. Therefore, if you get managed IT services, you’ll know
that you have a collaborative partner to make things easy for your business.
Hence, you’ll be able to focus on matters other than IT support.
Enhanced Compliance and Security
IT management services make sure that they
provide ultimate compliance and security to your business. If you have an in
house IT team, then if things go south and there is a security breach, your
system will be compromised. So, you’ll have to spend a good deal of money to
make sure that you have unbreakable security. But, if you get managed services,
then they will take care of all the security details for your business.
Proactive Maintenance Approach
When it comes to IT support, it means that
you’ll be needing regular maintenance. This maintenance can be extremely time
consuming, and if not done on time, it can affect your business operations.
Therefore, make sure that you have the right approach for maintenance. It is
important because, if delayed, it can cause serious damage to standard
operations and workflow of your business.
A Cost-Effective Solution
If you are a small or medium-sized business,
then obviously, finance is difficult for you to manage. You can’t afford to
build a complete in-house tech support team. It requires a lot of
infrastructure and resources. Therefore, getting the services of a company is a
cheap and wise option for small and medium-sized businesses. Now, even the big
companies around the globe are choosing such companies because of all the
benefits they have to offer.
Enables the Internal Staff to Be More Productive
Lastly, the most important
thing for any business is the high productivity of the staff. When you have
managed services from another company, it’ll definitely easily burden off your
own employees. Hence, they will have more time and resources to focus on other
important business operations. It’ll be the ultimate help for your business’s
growth because his growth highly depends on the productivity of your employees.
Finbold.com has launched the Coronavirus
Research Index (CRI) to identify countries that are putting in the most
effort in finding ways to manage the COVID-19 disease.
The index ranks the countries based on the number of active medical
coronavirus studies that show which countries are actually executing the most
research related to COVID-19 to understand the virus to find the effective
means of managing the disease. According to the Index, China, the United
States, and France are the top three countries leading in the number of active
studies related to coronavirus.
China leads in
studying coronavirus
The CRI shows that China has 60 active studies, with the United States
having 49 ongoing studies. On the other hand, France has 26 active studies.
Idas Keb, a co-founder at Finbold, on the findings commented:
“Interestingly, the index also reveals that while there is some correlation
between countries that have the most COVID-19 cases and the number of medical
studies, the majority of the countries are still far behind on coronavirus
research. For example, Spain, which is second by the number of confirmed
coronavirus cases, is not within the top 5 countries in the research index.”
The report features studies that are labeled as ‘Active’ on the
ClinicalTrials.gov database. The studies have a different status like
Recruiting, Not yet recruiting, Active not recruiting and Enrolling by
invitation.
The research index also highlights the study title, the status of the study,
the institutions carrying out the study and the interventions placed into
managing the condition.
Currently, the Finbold.com Coronavirus Research Index identifies 39
countries with ongoing studies on COVID-19. All listed countries have confirmed
cases of the novel coronavirus.
While trading, every
trader uses a unique trading strategies to navigate in the Forex market.
Strategies are used by traders to help them to trade in a profitable way. You
need to understand the fact that not all the strategies will work for every
trader. A simple trend trading strategy can help you to secure profit, but still,
you might not be able to make a decent profit after a few months. The market is
always changing its nature and it’s your duty to keep pace with this dynamic
market.
The market allows a
trader to work as per their skills and strategies. If you have good and
effective skills and strategies you will be able to make profits but if you
have a lack of skills and strategies then you will find it difficult to make
profit. Although there are some important principles that are common in the
entire market for all traders to achieve their goals.
Pay attention to the indicators
It’s important for all
traders to understand what is happening and what might happen in the market.
Through the analysis of Forex indicators, you can understand the market better. Indicators play a crucial role in the market, so all
traders should learn their uses. When you learn the use of the indicators, open
a demo account with Rakuten so that you don’t have to lose too much money.
You can find out the
economic situation of the market’s currency by using the indicators. The
indicators also help traders to identify the best time for entry and exit in a
profitable way. If you can identify the best times then it will maximize your
profits by reducing your losses.
Keep a personal trading record
Many traders fail to
keep accurate and faithful trading records and thus can’t identify their
previous mistakes or rectify them. Trading records can enhance a trader’s
entire trading system, as it allows you to trade by thinking twice to find out
whether you will make profit or not. Once you develop the habit of keeping the
record, you can execute quality
trades in the fx trading account. Most importantly, you will start building up
confidence which is the most crucial component of trading.
You can make better
strategies and skills in your trades by keeping trading records. A trading record
acts as a guideline for traders as it helps them to rectify their previous
mistakes and to trade with better strategies in the next move.
Embrace the risk management
If you want to become
a successful trader, you should never avoid risk management in your trades.
Risk management is essential for all the traders as they can lower the
percentage of losses in the trades by setting proper risk management. Never
break the rules of risk management as it can blow up the trading account. Stick
to the safe method so that you can earn big amount of money. Analyze the losing
orders and learn from your mistakes. Once you become good at trading, start
placing trades with confidence.
You should never risk
more than 2% of your trading capital and never change your risk management out
of greed. Many new traders set higher risk management in their trades and thus
end up losing their capital. It is also known that proper risk management is a
savior for traders as it reduces the percentage of losses.
Conclusion
You can have your own
rules for trading in the Forex market but don’t ever avoid the principle
trading methods. The above points will help you to trade in a profitable way,
you also need to pay attention to all the terms and conditions of the market.
The entire trading system may become easier for you if you learn and understand
the market more precisely. Mastering the Forex market is a never-ending
learning process.
