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Risks involved in CFD trading in MENA?

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CFD trading

Lack of liquidity

When trading CFDs, you essentially trade contracts between yourself and the broker. 

It means that if there is low liquidity in the market, it can be challenging to find someone to buy or sell from. brokers liquidity providers.

As a result, prices may be more volatile than usual.

Slippage 

Slippage is when the price of an asset moves against you after you have placed a trade. 

For example, if you request a buy order for $100 worth of Bitcoin at $10,000 and the price moves to $10,050, they will fill your order at $10,050 rather than the $10,000 you asked for. 

Slippage is a risk in CFD trading because if you are dealing with large price movements, it’s likely that this will happen to you at some point.

Leverage

It means that when you buy or sell an asset using leverage (borrowed funds), your position is magnified and therefore gains and losses can be higher than they would otherwise be. 

For example, let’s say you bought $1,000 of BTC using 10x leverage. 

That means the broker has given you $10,000 to trade with, meaning that a 1% gain on your position would result in a 10% return on equity, while a 1% loss would mean a 10% loss of the account’s total value. 

When trading CFDs, it’s important to remember that gains and losses are amplified and quickly add up.

Margin Calls

When the broker demands that you add more funds to your account to maintain your current position, it is a margin call. 

It could be because the market has moved against you, and your account equity has fallen below the required margin level. If you can’t meet the margin call, your broker will sell some or all of the positions in your account to cover the shortfall. 

This can result in a loss of profits and increased losses on any open positions.

Price Manipulation

Price manipulation is when someone (or a group of people) tries to manipulate the price of an asset by buying or selling to profit from the resulting price movement. 

It is a risk in any trading, but it’s especially prevalent in CFD trading because of the high leverage levels available.

Fake News

Always be aware of potentially fake news when trading CFDs. 

It is where someone spreads false information to manipulate the market in their favour. 

You can’t always determine whether the information is accurate or fake, so it’s essential to research before making any decisions.

Price Volatility 

The prices of assets can move up and down quickly and unpredictably, which can lead to significant losses if you’re caught on the wrong side of the trade. 

In markets with low liquidity, like MENA, this is especially true. 

No Stop-Loss 

A stop-loss function automatically closes your position if the price reaches a certain level. 

It helps protect you from further losses if the market moves against you. 

However, many brokers do not offer this feature when trading CFDs, so it’s essential to be aware of the risks involved.

Diversification

When trading CFDs, it’s important to remember that you are exposed to a particular asset class or market. If that market falls, your entire portfolio will likely fail with it. 

Therefore, it’s essential to carefully consider your risk tolerance and diversify your portfolio across different asset classes, countries and industries to reduce the risk of significant losses.

Downtime Risk

When trading CFDs, there is always a chance that your broker will suffer downtime or system failure. 

This could result in you being unable to trade for an extended period, which may then cause further problems if you need to exit a position quickly due to adverse market moves. 

For more information on risks involved with CFD trading and how to avoid it, link to saxo bank uae.

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How You Can Continue to Improve Your Enterprise?

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Improve Your Enterprise

If you look at your business now and compare it to where it was when you first started, you’ll see you’ve come a long way. From what was once a small startup, perhaps with just one person working in it, you now have a large enterprise that is growing by the day. 

It can be easy to sit back at this point, feeling accomplished and happy with what you have achieved, and leave your business to fend for itself. However, this would always be a bad idea; in order to keep your enterprise doing as well as it is and to ensure it continues to do so for many years, you can never take your foot off the gas. 

One thing you should do is to keep learning. The more you know about business – and how to run a business – the better, and just because you’ve been doing it successfully for a long while, that doesn’t mean you don’t still have a lot to learn. In fact, implementing these new ideas into your business could boost it even further. With that in mind, here are some of the ways you can be better in business to ensure the further growth of your successful enterprise. 

Be Organized 

No matter how great your products or services might be, if you are not an organized business owner, you’ll find it much harder to maintain your levels of success. Over time, the more disorganized you are, the harder it will be to work well, and the bigger your enterprise becomes, the worse it can become. When you are organized, you’ll ensure that despite huge demand, you’ll never miss deadlines or orders, you’ll have better customer service, and your enterprise will be more reliable all-around. 

It’s not in everyone’s nature to be organized, but there are some simple tips that can help you at least make a start or improve upon your current strategies. One option is to train your teams to make to-do lists every evening before they leave work. These will be filled with the tasks they need to complete the next day, in order of priority. They won’t forget anything, and they will be able to get started immediately when they get to work. Another good idea is to implement network monitoring. Network monitoring ensures that all your processes are working as they should, alerting you to any issues so you can fix them quickly. 

Set More Specific Goals 

The bigger your business gets, the easier it is to lose sight of your goals. Or perhaps you think you’ve already reached all the goals you set – certainly, you will have achieved some of them by the time you reach enterprise level. However, just because you have reached your initial goals, that doesn’t mean you shouldn’t make more. 

Think about how useful your goals were and what they allowed you to do when your business was smaller. Without them, it’s unlikely you would even be where you are now – they helped you make decisions, stay on the right path, and grow your business successfully. Nothing has changed now that you have achieved or even surpassed what you originally wanted. Make some new specific goals, and you’ll be able to keep growing even more. 

Never Let Your Customers Down

As a big business, it might be easy to assume that if you lose a few customers, it doesn’t matter; you’ll always find more, and besides, the ones that stay with you are more than enough. Yet what would happen if you lost more and more customers? What would happen if you weren’t able to find more because your reputation was ruined or became negative? 

No matter how large your enterprise might be, it’s crucial that you treat customers well. Don’t let them down, and always strive to make up for your mistakes if need be – it will make all the difference. 

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How to scale your logistics business quickly?

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logistics business

Scaling a business is not always the right move – but with logistics, it makes perfect sense. 

You will quickly reach a ceiling with the number of deliveries you can complete, and if you don’t scale quickly, you could lose potential customers. After all, a logistics company can develop a negative reputation if it systematically fails to deliver orders on time, cannot stretch past a very limited amount of delivery slots, or makes consistent errors because it is understaffed.

By scaling your logistics business, you will be able to cater to more customers, feel less overstretched by demand, take a step back from daily driving, and deliver a more flexible service.

Despite the clear benefits, scaling any business is tricky, and requires the right strategy to execute successfully. For example, you will need to do it in a manner that doesn’t overburden your available finances, ensure that there is enough consistent demand for your services, maintain your current levels of quality control and customer service, as well as expand your administrative department to cope with the additional staff members.

This is how to scale your logistics business quickly:

Join a load board platform

A difficult balancing act which needs to be struck when scaling a business is the recruitment of more staff coupled with the average demand from your customers.

Full-time members of staff are not cheap and can leave you vulnerable to cash flow issues if there isn’t a similar increase in sales. This is especially pertinent with a logistics company because you will likely have to buy new trucks, hire additional warehouse space, pay for more expenses and market in new areas in order to generate the extra work.

A great way to help find delivery jobs is to join Truckstop.com’s load board platform. On these platforms, you can find people who are looking for someone to deliver their goods or be put in contact with other companies who need additional drivers.

Although this leaves your cash flow dependent on last-minute trade initially, you can quickly build lasting relationships with these first-time clients. 

Ultimately, your target should be to attain enough regular customers to easily cover the additional staff, leaving you with a safety net if you suffer a quiet month.

Be intelligent with your route choices

A great way to scale your logistics business without enduring the risk of hiring too many extra members of staff or acquiring additional capital too quickly is to think through your route choices carefully.

If you can visit a destination that incorporates a multitude of different customers, then you will be able to fulfil more orders on less fuel and use far fewer drivers. While there will come a time when you may have to hire new employees to complete deliveries, this strategy will ensure you maximize your efficiency in the meantime. 

Use automation to increase process speed

If you want to scale your logistics business then you will need to ensure that every aspect of your company is as efficient as it can be. Therefore, automating your processes can be incredibly valuable. 

For example, you may want to use robots in your warehouse to manage and load your stock, an online timesheet system to keep track of employee working hours, or a chatbot who can take orders on your website without you lifting a finger.

This will make every step of your delivery process faster, cheaper and more replicable, which is what will help you achieve lasting growth. 

Increase the number of vehicles on your fleet

You can have all the additional staff members you want, but your business won’t be able to fulfil orders if you don’t have enough vehicles with which to deliver them.  

Depending on your budget, this may either be a fast or slow process. There is no incorrect choice, it simply hinges on whether you can spare the extra cash. Estimate how many more orders you could realistically accept if you had an extra vehicle, and then use that figure to justify whether you could quickly pay off the purchasing cost. 

Bear in mind that markets change quickly, so allow for a little leeway when making this calculation. 

Open depots in different locations

Once you have started to process more orders and have an increased number of staff and vehicles on your fleet, it is probably time to open some additional depots in new locations. 

This will help you cater to a much wider customer base who may not have otherwise heard of your business, or been too far out of your jurisdiction to be relevant.

As a result, the success of your logistics business could quickly snowball, allowing you to make further inroads in new markets and develop more cash flow security.

You should be tactical with the locations that you choose, and the sites you acquire. 

Only open for business in a new area once you have thoroughly researched it. You need to be as sure as you possibly can that you are going to find enough customers there, and that it is well connected to a road network and other vital infrastructure. 

There is also the question of finding employees who are willing to commute or relocate to that area, so making sure your depots are in a city or desirable neighborhood always helps.

Create lasting relationships with customers

Lastly, you will find it impossible to expand your logistics business meaningfully unless you develop lasting relationships with your customers. 

There are a few crucial reasons for this:

The first – and most obvious – reason is that repeat customers are the bedrock of any business, whether they are a start-up or multinational. The reliability of regular trade will allow you to budget more accurately, develop a strong reputation within your industry and build momentum. 

Secondly, if you consistently burn bridges with your customers, then you will eventually run out of people to sell to, leading to bankruptcy. Bad customer service can be lethal for any brand’s image, so you should endeavor to make it as strong as possible. 

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How To Generate ‎Construction Incident ‎Reports

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How To Generate ‎Construction Incident ‎Reports

As a contractor, you must ensure security at your job site. Using construction incident reports will help you do so by helping you keep track of your work site.

Many companies have been relying on technological solutions for reporting construction incidents. Such tools will make employee onboarding easy and make your workplace safer.

Unfortunately, fatalities and worksite incidents are increasing annually.  It’s crucial that steps be taken to address this rising issue. One way we can work towards improvement is by generating construction reports and analyzing them for solution opportunities.

In this article, we’ll show you how to develop them. Let’s start with what construction incident reports are.

What are construction incident reports?

Construction incident reports (CIRs) are a way for construction companies to document and track accidents and violations during the construction process. CIRs can help construction companies identify patterns, troubleshoot problem areas, and meet safety standards. 

The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) requires that construction companies create CIRs for each project that they’re working on. Contractors must submit these reports to OSHA after an accident or violation. 

OSHA uses the information in these reports to determine whether to issue a citation to the company or assess fines. If a company fails to submit CIRs for the projects it’s working on, OSHA may also take legal action against it. 

How to generate construction incident reports

No matter the kind of reports you prepare, you’ll need to follow proper protocol. Below are some key pieces of information needed to generate thorough construction incident reports and obtain helpful insights. 

Employee demographics

Demographics of the employee that went through the incident must be at the top of your incident report. This includes a description of the employee’s name, age, role in the organization, position, and hiring method

Include any previous issues or incidents the employee may have had with the company or anything else that may affect the decision-making process. 

Information about the incident 

When a construction accident happens, there’s an overwhelming need to immediately identify the cause of the incident and take measures to prevent such accidents from happening again. 

This section needs to include the incident’s time, date, and eyewitnesses. Also, include the type of incident that occurred and what the possible expected reasons were.

Sequence of incident

It’s not just for reporting an incident, but also to be a source of information for future reference and analysis.

The most common way of recording the incident is by writing it down. You can seek assistance from the workers present on site. Also, make sure to check security cameras, if any.

Facts and figures

Gather all the facts and figures related to the incident. You can include information about the occurrence of similar past incidents and the reason behind them. This can also include the amount of damage done on-site. 

You can use the details provided by the eyewitnesses to calculate the loss incurred by the company. Additionally, for in-depth investigation, you can also make a comparison with the company’s financial performance over the past years. This will help you in calculating the loss suffered by the company. 

Analyze the report

Then you’ll have to analyze all the findings in the form of a story. Contractors or the project management team should prepare this construction incident report immediately after the incident occurs. You need to have it in a sequence or, more specifically, narrate the whole incident.

Recommendations

Once you have concluded all the facts and figures, you’ll need to provide any necessary recommendations to avoid the same incidents in the future. You can devise a safety program or replace equipment as needed.

The report should be prepared in the following manner: 

  1. A detailed description of the incident
  2. Identifying the circumstances that led to the incident
  3. Actions that were taken to avoid the incident from occurring again 

The benefits of generating construction incident reports

Construction incident reports can benefit the construction industry in the following ways. 

Prevents fatalities 

The construction industry is a combination of high risk and high reward. It’s a job where you can be situated close to heavy machinery and other dangerous equipment. Generating construction incident reports can prevent fatalities and other situations from occurring in the future.

Brings awareness among workers

Construction workers often work in dangerous and challenging conditions. By filing construction incident reports, workers can bring attention to these dangers and help improve safety for all involved. Incident reports can also help improve communication among workers.

Increases productivity

Incident reporting can help improve productivity by providing a framework for identifying and addressing construction problems. Additionally, it can help identify potential safety concerns and can help ensure that the construction project is completed safely and on time.

Things to consider while generating construction site reports

When you’re building a construction project, one of the most important things you need to do is prepare a good construction incident report. Here are two essential things you need to be mindful of before generating an account. 

Accuracy of data

As we mentioned above, it’s crucial to provide accurate data in your construction incident reports. The more precise your data is, the easier it will be for you to manage the project. Also, if the data is inaccurate, you may face impending legal issues.

Include illustrations 

You can include illustrations about the incident in diagrams or even a story chart. In general, a graph can be the most accessible form to understand the start and end point of the incident. 

The bottom line

Construction incident reports will reduce risks on your job site. They will also improve your reputation as a construction firm and help you achieve better productivity.

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