Business

10 Habits of Successful Traders

Many people dream of earning a living from online trading, some with a view to improve their daily living conditions, and others with a view to achieve true financial independence.

No matter how small or ambitious your goals, there are qualities and behavioral patterns that all successful traders share.

With this in mind, let us share with you the 10 habits of successful traders.

1. Identify trading opportunities

First, you’ll need to spot a good trading opportunity. As it’s impossible to predict short term changes in prices, traders turn to technical analysis and/or fundamental analysis to form an opinion.

For example, a trader may decide to open a long position in a stock that has hit its 200-day moving average, if he or she expects the stock’s fundamentals to improve.

The 200-day moving average represents a stock’s average closing price in the last 200 trading sessions, and is often seen as a good entry point.

2. Manage your risks

Improvisation is not an option when your money is at stake. It’s important to ask yourself what could go wrong with your trade, no matter how bullish you are about your investment decision.

You should also define upfront an amount of money that you are willing to lose should the markets move against you.

In a bear market, when downward moves are more likely than up moves, most traders prefer to set a stop limit close to their entry point to limit their losses.

You’ll also need to manage leverage carefully, as leverage increases the ups and downs in your portfolio’s value.

Experienced traders are generally comfortable operating through high-leverage forex brokers, but beginners should act with caution, and use little to no leverage, especially when markets are volatile.

3. Assess your performance

It’s natural for human beings to make mistakes. But you’ll need to assess your trading performance in a critical manner, if you are to correct them.

This is easier said than done, as your emotions may get in the way of rational investment decisions.

For example, you may ultimately wish to remain in a losing trade longer than you otherwise should, in the hope of recouping your losses.

4. Create an investment plan

That’s why it’s helpful to maintain a trading journal where you record your investment case, your target profit as well as the maximum loss you’re willing to sustain.

Some of the best traders remain invested as long as their investment case holds true, regardless of short term fluctuations in share prices.

However, you should also be willing to close your position, even if this means crystalizing a loss, if the reasons that underpinned your investment decision no longer hold true.

5. Find a broker you can trust

It’s also important to find a broker that’s on your side. Some brokers charge exorbitant fees to open and close positions.

Others may charge surprising high rates on interest on any amounts you borrow, whether you go long or short.

Always take time to compare brokers’ fees and commissions in detail, as these will make a material difference to your bottom line.

You should also consider where and how your broker is regulated. Brokers regulated in the EU, UK and other developed markets usually offer strong investor protections.

However, this isn’t always the case with offshore brokers.

These words of caution also apply to those looking to buy Bitcoin or other cryptocurrencies.

FTX’s fall from grace, and the failure of several crypto lending and borrowing ventures is a reminder that your money is at risk.

6. Be persistent

Practice makes perfect. This is also true when it comes to trading.

Be persistent in everything you do, follow developments in the financial markets attentively, and hone your skills through personal readings or courses.

With so much information available at the click of a mouse, it’s important to avoid information overload. Be selective about who you follow and the blogs you read.

7. Don’t trade for the sake of trading

A successful trader doesn’t trade without a clear strategy.

In a bear market, the best strategy may be to lie flat (in other words, do nothing), or short the market based on a combination of technical and fundamental analysis.

Whereas in a bull market, the best strategy may be to buy the dips, and remain invested.

8. Look for asymmetric traders

Successful traders look for trades with strong risk-reward ratios.

These are also known as trades with asymmetric returns: these are trades with small and limited risks that can be quantified upfront, with huge upside potential.

For example, traders betting against the peg of the Hong Kong dollar to the US Dollar face limited downside if they are wrong, as the exchange rate is floored, but significantly larger upside if the peg breaks.

9. Control your emotions

Try to keep a cool head when trading the markets.

Again, this is easier said than done. But you can help keep your emotions at bay by investing only a small amount of your capital in each trade, typically between 1% and 2.5% depending on your conviction level.

From experience, we know that this will help you sleep better at night.

10. Patience is a virtue

Markets can change in fast and unpredictable ways. When this happens, it isn’t advisable to make decisions on the spur of the moment.

Instead, let the trading session play out as reversals can happen either part-way, or later in the trading day.

If the markets experience a sustained downtrend, remember that oversold market conditions are usually followed by overbought rallies.

In other words, it can help to have a long-term perspective on the market. Learn more about the differences between trading and investing.

Conclusion

Although making a living from investments is something that many people want to do, it doesn’t happen overnight.

However, we know from experience that these habits can make a meaningful difference to your returns when you combine them with expert knowledge.

So, if your dream truly is to become a successful trader, set time aside to learn these skills and put them into practice, to build your future successes.

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Business

PepsiCo Reduces Revenue Projections As North American Snacks And Key International Markets Underperform.

(VOR News) – In the third quarter of this year, Pepsi’s net income was $2.93 billion, which is equivalent to $2.13 per share. This was attributed to the company.

This is in stark contrast to net income of $3.09 billion, which is equivalent to $2.24 per share, during the same period in the previous year. The company’s earnings per share were $2.31 when expenses were excluded.

Net sales decreased by 0.6%, totaling $23.32 billion. Organic sales increased by 1.3% during the quarter when the effects of acquisitions, divestitures, and currency changes are excluded.

Pepsi’s beverage sales fell this quarter.

The most recent report indicates that the beverage and food sectors of the organization experienced a 2% decline in volume. Consumers of all income levels are demonstrating a change in their purchasing habits, as indicated by CEOs’ statements from the previous quarter.

Pepsi’s entire volume was adversely affected by the lackluster demand they encountered in North America. An increasing number of Americans are becoming more frugal, reducing the number of snacks they ingest, and reducing the number of times they purchase at convenience stores.

Furthermore, Laguarta observed that the increase in sales was partially attributed to the election that occurred in Mexico during the month of June.

The most significant decrease in volume was experienced by Quaker Foods North America, which was 13%. In December, the company announced its initial recall in response to a potential salmonella infection.

Due to the probability of an illness, the recall was extended in January. Pepsi officially closed a plant that was implicated in the recalls in June, despite the fact that manufacturing had already been halted.

Jamie Caulfield, the Chief Financial Officer of Pepsi and Laguarta, has indicated that the recalls are beginning to have a lessening effect.

Frito-Lay experienced a 1.5% decline in volume in North America. The company has been striving to improve the value it offers to consumers and the accessibility of its snack line, which includes SunChips, Cheetos, and Stacy’s pita chips, in the retail establishments where it is sold.

Despite the fact that the category as a whole has slowed down in comparison to the results of previous years, the level of activity within the division is progressively increasing.

Pepsi executives issued a statement in which they stated that “Salty and savory snacks have underperformed year-to-date after outperforming packaged food categories in previous years.”

Pepsi will spend more on Doritos and Tostitos in the fall and winter before football season.

The company is currently promoting incentive packets for Tostitos and Ruffles, which contain twenty percent more chips than the standard package.

Pepsi is expanding its product line in order to more effectively target individuals who are health-conscious. The business announced its intention to acquire Siete Foods for a total of $1.2 billion approximately one week ago. The restaurant serves Mexican-American cuisine, which is typically modified to meet the dietary needs of a diverse clientele.

The beverage segment of Pepsi in North America experienced a three percent decrease in volume. Despite the fact that the demand for energy drinks, such as Pepsi’s Rockstar, has decreased as a result of consumers visiting convenience stores, the sales of well-known brands such as Gatorade and Pepsi have seen an increase throughout the quarter.

Laguarta expressed his opinion to the analysts during the company’s conference call, asserting, “I am of the opinion that it is a component of the economic cycle that we are currently experiencing, and that it will reverse itself in the future, once consumers feel better.”

Additionally, it has been noted that the food and beverage markets of South Asia, the Middle East, Latin America, and Africa have experienced a decline in sales volume. The company cut its forecast for organic revenue for the entire year on Tuesday due to the business’s second consecutive quarter of lower-than-anticipated sales.

The company’s performance during the quarter was adversely affected by the Quaker Foods North America recalls, the decrease in demand in the United States, and the interruptions that occurred in specific international markets, as per the statements made by Chief Executive Officer Ramon Laguarta.

Pepsi has revised its forecast for organic sales in 2024, shifting from a 4% growth rate to a low single-digit growth rate. The company reiterated its expectation that the core constant currency profitability per share will increase by a minimum of 8% in comparison to the previous year.

The company’s shares declined by less than one percent during premarket trading. The following discrepancies between the company’s report and the projections of Wall Street were identified by LSEG in a survey of analysts:

SOURCE: CNBC

Business

Old National Bank And Infosys Broaden Their Strategic Partnership.

(VOR News) – Old National Bank, a commercial bank with its headquarters in the Midwest, and Infosys, a firm that specializes in information technology, have recently entered into a strategic expansion of their link, which has been in place for the past four years.

This expansion is more likely to take place sooner rather than later, with the likelihood being higher.

For the purpose of making it possible for Old National Bank to make use of the services, solutions, and platforms that are offered by Infosys, the objective of this expansion is to make it possible for the bank to transform its operations and processes through the application of automation and GenAI, as well as to change significant business areas.

This lets the bank leverage Infosys’ services, solutions, and platforms.

Old National Bank Chairman and CEO Jim Ryan said, “At Old National, we are committed to creating exceptional experiences for both our customers and our fellow employees.”

This statement is applicable to Old National Bank. Infosys is carefully managing the business process innovations that it is putting us through, putting a strong emphasis on efficiency and value growth throughout the process to ensure that it is carried out efficiently.

This is a routine occurrence throughout the entire operation. Because of Infosys’ dedication to our development and success, we are incredibly appreciative of the assistance they have provided.

Old National has been receiving assistance from Infosys in the process of updating its digital environment since the year 2020, according to the aforementioned company.

Ever since that time, the company has been providing assistance. The provision of this assistance has been accomplished through the utilization of a model that is not only powerful but also capable of functioning on its own power.

Infosys currently ranks Old National thirty-first out of the top thirty US banks.

This ranking is based on the fact that Old National is the nation’s largest banking corporation.

It is estimated that the total value of the company’s assets is approximately fifty-three billion dollars, while the assets that are currently being managed by the organization are valued at thirty billion dollars.

Dennis Gada, the Executive Vice President and Global Head of Banking and Financial Services, stated that “Old National Bank and Infosys possess a robust cultural and strategic alignment in the development, management, and enhancement of enterprise-scale solutions to transform the bank’s operations and facilitate growth.”

This remark referenced the exceptional cultural and strategic synergy between the two organizations. Dennis Gada is the one who asserted this claim. This was articulated explicitly concerning the exceptional cultural congruence and strategy alignment of the two organizations.

We are pleased to announce that the implementation of Infosys Topaz will substantially expedite the transformation of Old National Bank’s business processes and customer service protocols. We are exceedingly enthusiastic about this matter. We are quite thrilled about this specific component of the scenario.

Medium-sized banks operating regionally will continue to benefit from our substantial expertise in the sector, technology, and operations. This specific market segment of Infosys will persist in benefiting from our extensive experience. This phenomenon will enable this market sector to sustain substantial growth and efficiency benefits.

SOURCE: THBL

Business

American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

The largest regulated water and wastewater utility company in the United States stated Monday that it had been the target of a cyberattack, forcing the company to halt invoicing to consumers.

American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

American Water, based in New Jersey and serving over 14 million people in 14 states and 18 military facilities, said it learned of the unauthorized activity on Thursday and quickly took precautions, including shutting down certain systems. The business does not believe the attack had an impact on its facilities or operations and said employees were working “around the clock” to determine the origin and scale of the attack.

water

The corporation stated that it has alerted legal enforcement and is cooperating with them. It also stated that consumers will not be charged late fees while its systems are unavailable.

According to their website, American Water operates over 500 water and wastewater systems in around 1,700 communities across California, Georgia, Hawaii, Illinois, Indiana, Iowa, Kentucky, Maryland, Missouri, New Jersey, Pennsylvania, Tennessee, Virginia, and West Virginia.

SOURCE | AP