An Introduction To Forex Trading | Personal Finance Opinions

The foreign exchange market is the largest financial marketplace in the entire world. The stock market pales in comparison to the incredible amount of daily turnover in the fx space. Currently, there is about $3 trillion in turnover per day in the foreign exchange market, while the total daily turnover at the New York Stock Exchange is a measly $50 billion, on average. In fact, if you added up the daily turnover at every major stock exchange in the world, it would still fall far short of the average fx turnover.

Most investors have never heard of the fx market due to its relatively new arrival to the retail investing world. Until the internet boom in the late 90?s, the fx market was inaccessible to most investors due to incredibly large minimum account requirements and minimum contract sizes. Only very wealthy individuals, investment banks, family offices, and hedge funds were able to be active in the market. The internet boom, however, has created a new world. Today, online retail fx brokers allow traders to open accounts with as little as a few hundred dollars.

How Do You Trade Forex?

FX trading involves buying and selling currencies. If you have ever travelled internationally, you have traded fx. For example, when a person travels to Mexico, they will inevitably exchange U.S. dollars for Mexican pesos in order to purchase goods and services in Mexico. When this tourist converts dollars into pesos for vacation, he is essentially selling U.S. dollars and buying Mexican pesos. In fx terms, this person has just sold the USD/MXN currency pair, which means our tourist friend has sold U.S. dollars in exchange for Mexican pesos.

In the fx market, the most commonly traded currencies does not include the Mexican peso. The bulk of activity every day takes place in the following major currencies: U.S. dollar, Japanese yen, Swiss Franc, Euro, and British Pound. These currencies always trade in pairs. It is impossible to buy a currency without simultaneously selling another. Therefore, these currencies trade in pairs such as the EUR/USD, GBP/USD, EUR/GBP, etc.

How You Make Money Trading Forex

If a trader buys the EUR/USD currency pair, then he has sold dollars and bought euros, which means he has went long the EUR/USD currency pair. Therefore, if the euro now appreciates versus the dollar while this trader has his long position in place, then this trader will profit when he liquidates the position by selling euros and buying dollars once again.

Here?s how it works mathematically :

Bob buys 1 standard contract (100,000) EUR/USD when the pair is trading at 1.2500.

Bob?s position is now worth (100,000 x 1.2500) $125,000. Now, if EUR/USD exchange rate rises to 1.2700, then Bob?s position is now worth (100,000 x 1.2700) $127,000. Bob has profited $2,000 off this

move. During rather volatile market conditions, EUR/USD can easily move 200 basis points in a day or two.

Today, most retail brokers will allow private retail traders to control 1 standard contract with as little as a $2,000 account. To get started trading foreign exchange, simply visit one of the many online retail forex brokers(click here for more on Forex.), download a simulated paper account, and begin practicing on fake money to get a strong foundational understanding of how the market works, and how to trade the world?s largest financial marketplace.

Source: http://www.personalfinanceopinions.com/2012/07/an-introduction-to-forex-trading.html

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Amber Scruton of Oswego to Travel to London with Mansfield University Bands

MANSFIELD, PA ? Amber Scruton of Oswego, will be travelling with the Mansfield University bands to London, England, from August 2-9 to perform during the time of the Summer Olympic Games.

Students are making the trip after personally paying a little more than half of the cost, with the rest being raised through fund-raising efforts.

From the 140-member travel party, MU Bands will offer a marching unit, concert band, brass band, jazz combo and a Dixie-Land group.

In addition to performing in a variety of venues in London and Paris, France, the band hopes to visit Cambridge U.S. Military Cemetery to play and perform a wreath-laying ceremony.

?For most of the students this will be their first opportunity to travel abroad,? Adam Brennan, director of Bands, said. ?To do so during the Olympics makes this a particularly exciting and educational opportunity.?

For more information on Mansfield University and its Department of Music, go to mansfield.edu

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Source: http://oswegocountytoday.com/?p=92739

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The Advantages Of Using Professional Web Design

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<title>Article Cupboard Free Article Directory | The Advantages Of Using Professional Web Design</title><h3>The Advantages Of Using Professional Web Design</h3>

By: Ronald H. Brown

As the Internet becomes more and more central to people's lives, for most businesses to succeed, they need to have an online presence. Many businesses, especially small and local businesses, do not have the ability to create their own websites and ensure that people are able to find them. The good news for them is that there are a number of professional web design services that can create a website for them and market it effectively.

Companies that use professional website designers are able to have sites built that incorporate search engine optimization (SEO) from the ground up, have error free coding and an easy to use content management system. Most website services also help their clients select and register a domain name and set up hosting services. This allows small businesses to focus on running their company while a website design service creates an inexpensive but professional looking website for them.

Even if someone has a polished and easy to navigate website, if people are not able to find them, the website does a company no good. The advantage of using professional design services is that many are now creating websites that are SEO friendly. The way that files and directories are named can have an impact on how well a site does in search engine results, and HTML coding can also play a part. By designing a site with SEO in mind, this prevents major website overhauls in the future.

The majority of professional web design firms also assist their clients in domain selection, registration and finding hosting for that domain. While domain selection and registration can be fairly simple, finding reliable and affordable hosting can be a challenge. This is especially true if the business intends to create an online storefront that allows them to sell their products online. These types of websites need a variety of hosting add-ons and security settings, and without them the website will not function properly.

Another major advantage of using a website design service is that it ensures a company's website looks professional and polished. Many people who visit a website that looks messy or is filled with broken links and code that doesn't work will not take that website, or the business that owns it, seriously. Therefore, it is important that businesses have a web page that makes a good impression and is well built.

In recent years, many design companies have also begun to offer SEO and online marketing services as a part of their web design packages. This provides small businesses an all in one service that can develop, produce and advertise their website on the Internet. In addition to ensuring that sites have high search engine result rankings, these services have also begun to provide assistance in developing pay-per-click advertising campaigns and help setting up social media strategies.

More and more people are using the Internet to find businesses and services every day. For local and small businesses to succeed, they need to be sure that people can find them online. Using professional website design companies to help them create an online presence can ensure that they are viable in today's Internet-centric world.

Author Resource:->??Ronald Brown is an Expert Author and Director of WebsiteDirect, a full service Las Vegas Website Design and Lead Generation Marketing Company.

To discover how a Website and SEO can help your business get found online, generate new leads, and convert them into paying customers, go to: http://www.websitedirect.org

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Report berates Vatican bank, urges serious reform

VATICAN CITY (Reuters) - A European report on Wednesday identified serious failings in the Vatican's scandal-plagued bank, sharply criticizing its management and giving the Holy See a negative rating in almost half the most important transparency-related criteria.

The milestone report, by Moneyval, a department of the Council of Europe, suggests the Vatican still has a long way to go before it can be included on an international "white list" of countries that abide by global norms on combating money laundering, the financing of terrorism and tax evasion.

The Vatican said it saw the 241-page report as a constructive starting point that would allow it to improve its financial controls rather than as a conclusion.

"We take both the praise and the criticism contained in the report with seriousness," said Monsignor Ettore Balestrero, who headed the Vatican team that worked with the report's authors.

The report comes at a time when the Vatican is battling to limit the fallout from a corruption scandal with Pope Benedict's butler suspected of leaking sensitive documents that allege wrongdoing in the Vatican's business dealings with Italian companies.

It was particularly pointed in its criticism of the management of the Vatican bank, officially known as the Institute for Works of Religion (IOR), and "strongly recommended" it be "independently supervised by a prudential supervisor in the near future".

Lack of independent supervision posed "large risks to the stability" of the Holy See's financial sector, the report said, an apparent suggestion that the bank should be fully independent of a committee of five cardinals who currently oversee it.

Senior management at the IOR lacked "fit and proper criteria", it added.

The IOR, whose tellers work under the gaze of crucifixes, is being investigated by Italian magistrates looking into money laundering. The bank is housed in the 15th-century Tower of Nicholas V, which Pope Benedict can see from his apartment windows.

The report did say that the Vatican had "come a long way in a short period of time" in making reforms and that many of the "building blocks" to combat money laundering were in place, even though more had to be done before it could join the international club of financial righteousness.

OUSTING

In 2010, Rome magistrates froze 23 million euros ($33 million) that the IOR held in an Italian bank. The Vatican said at the time that its bank had done nothing wrong and was merely transferring its own funds between its own accounts in Italy and Germany. The money was released in June 2011, but the investigation is continuing.

In a dramatic twist, the IOR's former president, Italian Gotti Tedeschi was ousted in a boardroom battle on May 24. He said he was fired because he wanted the bank to be more transparent, but the Vatican said he was an obstacle to transparency.

He was ousted a day after the arrest of the pope's butler, Paolo Gabriele, who has been held in relation to the leaking scandal in a small "safe room", in the Vatican's police station, where he prays daily. He was denied house arrest last week.

The Vatican has been trying to shed its image as a suspect financial centre since 1982, when Roberto Calvi, an Italian known as "God's Banker" because of his links to the Vatican, was found hanging from London's Blackfriars Bridge.

Although Vatican officials say they are determined to improve financial transparency in order to qualify for inclusion on the global white list, Wednesday's report showed they have their work cut out.

It awarded the Vatican negative grades of "partially compliant" or "non compliant" on seven of the 16 so-called core and key recommendations, while handing out grades of "compliant" or "largely compliant" on the other nine.

The seven negative grades included insufficient customer due diligence, insufficient compliance on reporting of suspicious transactions, and insufficient supervision and monitoring.

"There are seven areas where the Holy See must and will focus on," Balestrero said.

Moneyval, "The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism", is a monitoring mechanism of the 47-nation Council of Europe that tries to ensure that member states comply with international financial standards.

Moneyval does not maintain its own "white list", but supplies information which could eventually be used by other organizations, such as the Financial Action Task Force (FATF), to determine whether the Vatican belongs on a "black" or "grey" list of countries that fail to measure up.

Any such decision is at least a year away, and would depend on a follow-up evaluation of how well the Vatican implements recommendations in Wednesday's report.

Balestrero said the Vatican would try to implement all the recommendations contained in the seven negative scores before the progress report.

VATICAN REFORM

The Moneyval evaluation, which the Vatican requested several years ago, grades a country against 49 recommendations, of which 16 are deemed "core and key".

It is not uncommon for countries to receive partially compliant or non-compliant marks on their first and even subsequent evaluations, accompanied by suggestions on how to improve.

Vatican sources compared the performance to Italy, which they said had five non-compliant or partially compliant marks on "core and key" recommendations in a 2005 evaluation, years after it began its evaluation process by FATF.

In 2010, the Vatican drafted new financial transparency laws and set up internal regulations to make sure its bank and all other departments that administer the Catholic Church around the world adhered to international standards on money laundering and terrorism financing.

As part of the new legislation, the Vatican established an internal Financial Information Authority (FIA) along the lines of other countries and promised to liaise with the FATF and law enforcement agencies.

But the Moneyval report said there was "lack of clarity about the role, responsibility, authority, powers and independence of the FIA as a supervisor".

The IOR's most infamous scandal involved the collapse 30 years ago of the Banco Ambrosiano, with lurid allegations about money-laundering, freemasons, mafiosi and Calvi's mysterious death.

The IOR held a stake in Ambrosiano, then Italy's largest private bank, and investigators alleged that it was partly responsible for its fraudulent bankruptcy.

The IOR denied any role in the collapse, but paid $250 million to creditors in what it called a "goodwill gesture".

Several investigations have failed to determine whether Calvi killed himself or was murdered.

Here is a factbox on the Vatican's bank:

(Reporting By Philip Pullella; Editing by Andrew Osborn)

Source: http://news.yahoo.com/report-berates-vatican-bank-urges-serious-reform-131518387.html

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Gaza: Executions flout legal process | Amnesty International

The execution of three men in the Hamas-controlled Gaza strip illustrates ongoing failures in the justice system to ensure a rigorous fair trial process, Amnesty International said after three murder convicts were hanged on Tuesday.

Gaza has recently seen a significant increase in executions, with three other hangings this year. At least 14 have been executed by Hamas since 2010.

?The hanging of these men is a deeply disappointing episode in the short history of Hamas? de facto control of the Gaza Strip,? said Ann Harrison, Amnesty International?s Deputy Director for the Middle East and Africa.

?Amnesty International opposes the death penalty in all cases but at least one of those executed yesterday was sentenced to death after proceedings which failed to meet international fair trial standards.

?When individuals face the ultimate sanction, it is all the more necessary that trial proceedings are scrupulously fair.?

Twenty-one-year-old Na'el Jamal Qandil Doghmosh, one of the three executed, was sentenced to death for murder in April 2011. His final appeal was rejected by Gaza?s highest legal body, the Court of Cassation in May this year.

According to his family, Doghmosh ?confessed? under torture by police investigators after he was arrested in May 2010. When his family was able to visit him two months later, his nails had been torn out and he had burns and bruises on his body.

Amnesty International is unaware of any investigation launched into these reports. Torture in detention in Gaza is common, with perpetrators rarely, if ever, brought to account.?

The other two men executed yesterday, identified as ?F.T.W.? and Hazem Hilmi Herez were convicted of murder and murder and robbery respectively.

According to Palestinian law, death sentences must be signed by the president of the Palestinian Authority (PA), currently Mahmoud Abbas of the rival Fatah party, before implementation. The PA president has not ratified any death sentences since 2005.

?The refusal by Hamas to adhere to this legal requirement is just one example of how they flout the legal process,? said Ann Harrison.

?Another is the imposition of death sentences by military courts against civilians. Yesterday?s executions raise grave concerns for other Palestinian prisoners in Gaza on death row.?

?We urge the Hamas authorities to stop all executions and to immediately overturn or commute all death sentences in Gaza, or to grant re-trials in proceedings which comply with fair trial standards, and without recourse to the death penalty.?

Amnesty International is aware of some 27 Gaza prisoners on death row. One man known as A.M.A. could face imminent execution if his appeal to the military court against his conviction for ?collaboration with the enemy? is rejected.

According to local human rights organizations, six of the 14 who have been executed by Hamas were convicted on charges of ?collaboration with the enemy?, or treason by passing sensitive information to Israeli security bodies.

Amnesty International has repeatedly raised concerns that procedures before military courts in Gaza, where alleged ?collaborators? are tried, fall far short of international standards for fair trials.

The Hamas Ministry of Interior justified the use of the death penalty in a press release saying that it has a duty to protect society and to enforce law and order.

?Amnesty International acknowledges that it is the right and responsibility of the Hamas administration to bring to justice those suspected of criminal offences,? said Ann Harrison.

?But there has never been any convincing evidence produced to prove that the death penalty is a more effective deterrent than any other form of punishment.?

Amnesty International opposes the death penalty ? the ultimate cruel, inhuman and degrading punishment ? in all cases as a violation of the right to life and the right not to be tortured or subjected to any cruel, inhuman or degrading punishment.

Source: http://www.amnesty.org/en/news/gaza-executions-flout-legal-process-2012-07-18

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$200 Free Fantasy Baseball Contest with Phillies Nation

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You can adjust your roster up until the contest starts on Friday July 20th at 7:05 ET at which time your rosters will lock and the Live Scoreboard will be available.

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Source: http://philliesnation.com/archives/2012/07/200-free-fantasy-baseball-contest-with-phillies-nation/

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