Contract Management

Archive for November, 2009

The Personal Data Assistant (PDA) has won rapid acceptance among university students and executives who are constantly on the move because of its ability to package a lot of different data requirements into a palm sized device. The PDA is designed to make a busy life easier by providing sensible connections to all the information you need, have it at your fingertips when you need it, and transport it to other systems. Once ‘organised’ with your PDA, you will have all of your contact phone numbers, be collecting your emails, process your business orders, display your photographs and relax to your mp3 library. Many PDAs also act as a digital recorder and have windows based compatibility for word processing and spreadsheet financial calculations.

PDAs At the simplest end of the market, a PDA can help you manage your daily to-do lists, keep track of your diary and record your memos. But it’s important for people moving into using a PDA to understand that it is a tool that is most beneficial to an already organised mind: it won’t actually do the organising for you. But if you find you need to view and manage documents on the go, keep track of your appointments and have instant access to your name and address book, then the basic functions of a PDA will probably enhance your productivity. And of course the added bonuses of listening to your mp3s, watching short video clips, reading ebooks and being able to rehearse and review your presentations can only help.

PDAs with the Windows Pocket PC operating system and gutsy memory are compatible with your normal windows and office environments. Screen size and image resolution can be critical if you intend to use the device for reading books and managing text-heavy documents. While sales of PDAs have steadily declined over the past two years, losing to smartphone technology, the main manufacturers have advanced the usability of PDA devices with faster processors, increases in memory and multimedia capability. In many situations, smartphones have been able to replace many functions of the PDA, combining data management with mobile phone technology. But if you want to work with spreadsheets and web pages on your PDA, smartphones are at a disadvantage from smaller screen sizes and data storage capability and sometimes cost, but they obviate the need to carry two devices.

What to look for

There’s a hand-held PDA device to suit practically every budget and need. You need to consider just how much data you want to carry with you and how connected you want to be. Obviously more memory, faster processor and bigger screen attract higher price tags. You can compare brands, models and prices by searching Myshopping.com.au using the following specifications to guide you.

A budget basic unit might offer a processor speed of 16 MHz, 8MB of memory and at 2.5 inch (diagonal) screen. At the high end, you can get a 4GB micro hard drive, WiFi and Bluetooth connectivity, 400 MHz processor, 256MB memory, with expansion slots, 4 inch (diagonal) LCD screen with 65,000 colours and 640×480 display resolution, GPS functionality, MP3 player, digital camera and instant messaging. In the middle of the range you will find devices with 64MB of memory, a 200 MHz processor, 3 inch screen and built-in microphone or audio input jack. Bear in mind that all of these specifications and functionalities change continuously, and devices are upgraded with new features over very short spaces of time.

Apart from processor speed, memory and screen size, some of the critical specifications that you can use for cost and brand comparisons include:

Data input – While some models have a full QWERTY keyboard built-in, you may want to consider adding a fold-up full-size external keyboard. Entering lots of text with the small built-in keypads or using the handwriting software can be frustrating.

Audio input – A built-in microphone or microphone jack is needed for recording voice memos and meeting notes and store audio files.

Music playback – MP3 audio file playback can sometimes need additional software.

GPS – While there are a number of purpose-built hand-held devices for industrial applications, your PDA’s GPS capability may not be suitable for rugged outdoor activities.

Communication – Look for integrated Bluetooth 1.1 and a built-in 802.11b Wi-Fi adapter

Smartphone – Combines the functions of a mobile phone with a data management device in a single unit. Phone capability requires a separately purchased service contract

Audio Output – A headphone jack is essential for listening to your audio files

Cradle/Charger – This device allows for easy connection and synchronization with your PC while simultaneously recharging your battery. Consider buying an additional cradle for the office for maximum convenience. Some PDAs include a cable or a special cradle that provides an interface with your desktop computer to synchronize data.

Battery life – Each device will have its own battery-life characteristics. Battery recharge life is also dependant upon the data you are processing. You can use manufacturer’s specifications as a guide to compare between brands and models, but these specifications are laboratory measurements and may not reflect your actual use.

Bluetooth – This wireless technology lets you to exchange data with other handheld devices or any other Bluetooth enabled device such as a cell phone, fax machine, personal computer, laptop computer, headset or printer. The Bluetooth feature will allow you to add an external keyboard.

Digital camera – PDA cameras usually capture low resolution images (around 1.2 megapixels), which are perfect for emailing but not ideal for printing.

GPS – Global positioning system allows you to navigate from any point on or near the surface of the earth.

Music/Audio – The MP3 playback quality will depend on the bit rate of the audio file and the quality of the built-in speaker. The audio quality is often better when played back through a quality headset.

PDA Screen – PDA screen sizes are measured in inches diagonally and are available from 2.6 inches up to 5 inches on the very high-end. Larger, brighter screens require more power to operate therefore increase battery consumption.

Processor speed – refers to the speed in which a PDA coordinates its internal functions. Processor speeds are measured in MHz (megahertz) and range between 4 MHz and 624 MHz. Although these specifications can change rapidly as technology develops, it is recommended to have a processor speed of at least 16 MHz for general day-to-day functions.

Video capture – Video playback often requires an additional expansion card and a third-party software download, and higher memory capability.

Web Browser – Used with a Wi-Fi connection, lets you browse the internet as you would from a desktop computer.

Wi-Fi – Integrated 802.11b WLAN (wireless local area network), enables you to connect to the internet in any hot spot. Enabling the Wi-Fi features tends to consume battery life quickly.

In summary

You may like to consider whether you are a novice (that is, new to PDA technology), an entrepreneur or a technophile, and make your search based on your level of understanding of the technology involved. As a novice, you will be searching for a basic unit, as a technophile you will be looking for all the bells and whistles. An entrepreneur will be searching for the most adaptable capabilities. The following might assist.

Choose amongst functionalities. Consider you need for mp3 players, or video players, or web browsing. Doubling the functionality of your PDA may reduce the need to have to carry another device around in order to enjoy the benefits offered.

How much internet access do you need? Bluetooth connectivity can give you mobile phone enabled internet access, Wife can give you access from hot spots, and simple cable connection to your desktop computer can let you read your emails on the road.

Go for maximum memory for money. Memory determines how much data your PDA can process and store, and its ability to handle applications. Memory can be boosted in many devices using expansion slots and flash memory cards.

Search Myshopping.com.au to compare models and brands, and vendors and prices.

Andrew Gates
http://www.articlesbase.com/electronics-articles/pda-handheld-computers-buying-guide-52204.html

Testing a trading Plan

Before they begin in the market, some traders find it helpful to ‘paper trade’ the market for a while. This involves taking ‘hypothetical’ positions in the market and then monitoring these to see what the outcome will be.

Before doing any physical futures trading at all, the first move is to start by paper trading. A trading plan must be able to be measured. E.g. “I’ll risk no more than 2% of my capital on any given trade”. It can’t say “I won’t use too much of my equity for margin.”

Traders whose systems are more technical in nature will ‘back test’ their system against historical market data to determine the success of the system in that particular market. A trading system can be as simple as a few rules or as complex as a Black box technical analysis package. The key is that the system matches your personal trading style. You can either create a system from scratch or buy a readymade package. Either way it is advisable to test the system with dummy trades before doing the real thing. Some experts recommend 10 years of back testing with historical data (black box systems) where as others recommend a shorter time span for the testing of a simpler system. It is very important to perform your own testing on any ‘off the shelf’ systems, and not rely purely on the seller’s recommendations.

While all of these techniques are beneficial, prospective traders need to be aware that simulated trading – no matter what its form, does have its pitfalls.

Experienced traders will often say that there is no substitute for having real money in the market. Depending upon traders own discipline, the way they react in this circumstance could be very different compared to when the trade was purely hypothetical. In addition, while a market’s past performance can provide some general clues as to its price behavior, there is no guarantee that this will be repeated in the future.

Individuality

Trading plans are individualistic, based on such factors as personal experience, education, risk capital and tolerance toward risk. For this reason, trading plans may differ greatly from one trader to another. A trading plan may work better with some people than others. Consequently, you must develop a trading plan that works best for you. Among other things, this requires patience, rigid adherence to the rules that you establish, meticulous record keeping of trading performance (which provides valuable feedback) and an open mind to try new methods. There are no guarantees of profitability in the world of futures investing, but the discipline of a trading plan goes a long way toward making you a successful futures trader.

Now let’s look at some of the
SAMPLE TRADING PLAN (GENERAL SUMMARY OF MARKET ACTION)

Trading Philosophy / Trading Psychology:

I believe that Financial Markets are 100% psychology driven.Price patterns are a reflection of the collective psychology of a large number of traders.Trading psychology also a major factor in my own trading. It is identified as my trading state. Fear and Greed are powerful enemies to profitable trading and I can overcome this by training my subconscious mind to be focused on following a defined trading plan versus focusing on wins and losses.I am a disciplined trader committed to trading only for profit strictly adhering too my trading rules, plan and standard operating procedures.My style of trading is aggressive with my preference to trade directional, and pattern set ups. I will trade full time as a day trader and also seek other trading opportunities especially dealing with Options.I will not have a bias as to where the market may or may not head, I will react to the price, patterns and my tools as they present themselves applying my trading rules.I trade what I see… Not what I think!I understand that I cannot control the market, I can control only myself. My trading state and mindset is the key to the success of trading. I must be rested, fit, healthy and mentally alert. Accepting the stress of trading by keeping focused, calm, disciplined and not distracted is essential for being a professional trader.Losses are acceptable, not desirable but I can minimize them with compliance to the rules, especially avoiding impulse trades and never being in a trade without a plan or a stop.Trading is a business and I am here for the profit.

Golden Trading Rules:
Check for Stops and targets resting in the Market then update or remove them.Look left for previous structure.Always Set a Stop Loss. Always!Maintain Discipline.Avoid impulse trading. Trade with a plan and stand by the rules.Identify, Predict, Decide and Execute (IPDE).Do not enter a market within 15 minutes after a news event.Get S.E.T. (Stop, Entry, Targets) before every trade. (Know where and how to Exit…)If I lose my ISP then call my Broker immediately and go flat, then work on the technical challenges to get back online.Keep it simple.

Money Management, Risk Reward and Financial Goals:
I will trade 4 contracts as a unit maximum for the S&P e-mini.I will trade 3 contracts as a unit maximum in the Russell e-mini.For every $5K that I add to my account I can add a contract to a unit. If I reduce my account by $2K then I will reduce the contract size.Commissions, fees, charting services, continuing education and other business related costs are considered essential to trading.Risk to Reward is preferred a 2 to 1 ratio, but waiting for the set up and trading the rules is paramount and given the opportunity this standard is a guideline. My goal is to successfully net 9 combined points per week in the market.My desire is to train for the FOREX so that I can diversify looking for the best opportunities as I see them.

Daily Routine
I will only trade on days when I am well rested, relaxed and not mentally distracted by matters that will divert my focus. I will spend at least 15 minutes relaxing to music or a form of meditation after a good nights rest before trading.Conduct a Pre-Market Analysis myself, perform a top-down review of the major markets and develop a plan of the day. The trading day is from 9:30 a.m. (EST) to 4:15 p.m. divided into a morning session, lunch and afternoon session.I do not trade for the first hour on Mondays.I do not enter any new trades the last half an hour of the market hours (1545 – 1615 EST).After I have met my goal or the market is closed I will log my journal and then spend quality time with my family.At some point before the end of the day I will revisit the S&P trading day and back test my plan and system.

Pre-Market Analysis

Understanding that 70% of the volatility occurs during the first 2

Jason Brumbalow
http://www.articlesbase.com/finance-articles/developing-a-trading-plan-pt-4-82113.html

I’m working in a kind of well paid, but sort of dead end job. Very little opportunity of promotion, although I do think my employers value me as a hard working dependable employee. However, there is a chance that the department I work in will be cut, and I’m on a temporary contract (which they keep extending) so it is possible I am going to lose my job in two months.
I have been offered a lower paid job with another company. However, the reason it is lower pay is because they are paying for me to receive training in management, and after a 6 month placement within their company, I should hopefully graduate with a post-grad diploma in advanced management. I don’t have to say how this kind of qualification might help me in the future.
The downsides are, the contract is also temporary, like my current job. They could choose to get rid of me after my 6 month placement. Plus it’s not as well paid. Also, it’s farther away, and more difficult to get to. And there is loads of stress that goes along with swapping jobs, and studying!

Should I man up, and jump ship? I’m still young. Married, without children. So maybe this is the time to do a intensive 6 month diploma?
I’m just looking some points of view, maybe someone out there has had to make a similar decision? Was it the right one?

You are young, you have no kids, talk it over with your wife, if the concensus is to try the new job, then GO FOR IT, you have nothing to lose, maybe a lot to gain. You have to take risks now and then and if it were me, I would try and get ahead. Good luck.