Forex

Credit Cards

2011-04-06T15:40:00.001-07:00

Minimum finance charges are assessed when a consumer borrows money with a credit card but the normal finance charge falls below an arbitrary minimum. From the report:

In 2001, the minimum finance charge for 7 of the Top 8 issuers was $0.50. By 2009, most issuers charged a dollar or more as their minimum finance charge, with the highest being $2.00. Currently, they average $1.28.6 Borrowers pay more than $430 million annually as a result of minimum finance charges and that figure is rising as these charges are increased.
Chase and Bank of America said they had not increased minimum finance charges this year. A Capitol One spokeswoman said the bank "increased cash advance fees in 2008 to 3% or $10 (up from 3% or $5)."

Variable-rate floors allow adjustable interest rates to go up but never down. CRL reports that while none of the top eight issuers used rate floors five years ago, two of them currently use variable-rate floors that prevent rates from going below the rate provided when you sign up for an account.

None of the issuers that responded to Huff Post said they used variable-rate floors.

The report cites increasingly stingy penalty fee policies. "Tiered" late fee structures are designed to charge penalty fees proportionate to the size of the balance when a payment is missed. But the proportions have changed drastically. Top issuers introduced tiered late fee structures in 2002; a person with a balance over $1,200, say, would be fined $35 for missing a payment, while a person with a balance over $150 would be charged $39.

Since then, top issuers -- including Bank of America, Discover, and Capitol One -- lowered the uppermost tier to about $250. (Chase said only that it had not recently changed its fee tiers.) The top tier is applied to 87 percent of accounts.

Five credit card issuers have introduced inactivity fees or account management fees, but none of the top eight issuers have done so. However, Bloomberg reported last week that Bank of America has started a "fee test" with annual fees ranging from $29 to $99 for 1/2 a percent of consumer cardholders. Spokeswoman Betty Riess wrote, "This is a test to help us gain a better understanding of the value customers place on the card."

International transaction fees applied when a currency is exchanged:

In 2004, the majority of the Top 8 issuers did not charge an international transaction fee. In 2009 three-quarters of the top issuers charge this fee to most of their accounts. The size of the fee has also increased. In 2004, most of the issuers who charged this fee had a fee of 2%. Today most issuers charge 3%. This cannot be accounted for by inflation since it is a percentage of purchase activity, and that purchase activity level will already change to account for inflation.
Balance transfer fees for cash advances or balances transferred from one card to another:

According to data from Mintel Comperemedia, in the second quarter of 2008, 47% of balance transfer offers had no ceiling on the fee. Just a year later, 76% of balance transfer offers had no ceiling on the fee. Over that same time period, the number of balance transfer offers with no fee charged declined from 19% to 11%. At the same time, minimum fees have been rising for both cash advances and balance transfers, with the average balance transfer floor more than doubling over the last 5 years.
Bank of America increased its transaction fee from 3 percent to 4 percent over the summer, with a minimum fee of $10. A Chase spokesman said the bank had also changed its balance transfer fee earlier this year. "We disclose balance transfer fees on our offers and the fee may be as much as 5 percent," he wrote. Capitol One's balance transfer fees have remained at 3 percent. Discover reported that its balance transfer fees vary from card to card between 3 percent and 5 percent and that its cash advance rate recently switched from a fixed to a variable rate.

Bank of America said in a statement that this year the bank voluntarily decided not to raise interest rates on consumer credit cards (unless the cardholder is late twice in a year).

"We've also introduced a Basic card with one interest rate for all transactions for the life of the account and are in the process of mailing out a one-page 'clarity commitment' to our 40 million credit card customers, which is a concise summary of a cardholder's rates, fees and payment information," wrote a spokeswoman.

Credit Cards

2011-04-06T15:39:00.001-07:00

Credit card companies will have an easy time switching to new ways of assessing fees on their customers, according to a new report by the Center for Responsible Lending. The report documents several practices that the Credit CARD Act does not prohibit. According to CRL, it's just a matter of time before they proliferate.

"When bad products are allowed to flourish, it becomes a race to the bottom as they crowd out good products," said CRL's Kathleen Day. And switching costs make it unlikely that bank customers will go to the trouble of uprooting their accounts for another bank.

"Bankers know that you basically have to hit your customer with a 2x4 before they'll really leave, because it is such a hassle," Day said.

Of the practices described in its report, CRL highlights the "pick a rate" interest rate. Come February, fixed-rate credit cards will be truly fixed -- arbitrary hikes will be prohibited. But most credit cards feature rates that adjust according to the prime rate on a specific day within a billing cycle. With the "pick a rate" method, on the other hand, the cardholder's interest rate is determined by the highest prime rate on any given day in the previous three months, resulting in an annualized rate that CRL estimates is three-tenths of a percentage point higher, on average.

The Center reports that about one-quarter of credit card accounts feature "pick a rate" interest rates, resulting in a total extra cost to consumers of $720 million per year. "This cost could reach $2.5 billion per year if the practice becomes the industry standard," says the report, which adds that a few medium-size card issuers have long used "pick a rate" and that top issuers have just started to catch on.

The Huffington Post surveyed the eight largest credit card issuers -- JPMorgan Chase, Bank of America, Citigroup, American Express, Capitol One, Discover, Wells Fargo, and HSBC -- about the practices described in the report. Discover, Capitol One, Bank of America, and Chase provided answers; HSBC declined to comment.

MSc Business Management

2011-03-16T15:09:00.000-07:00

The University of Wales Master of Science programmes at Greenwich School of Management offer a range of disciplines in the functional areas of Management including, Human Resource Management, Accounting & Finance, Marketing and Business Management. These programmes are available in both Full and Part time modes.
Our MSc Degree specialising in Business Management is designed for those students who wish to develop a general management career in the public, private, charitable and nongovernmental organisations. Students who pursue this degree will benefit from an eclectic mix of both strategic and functional management disciplines. On completion of this degree students will be in a position to seek management roles in a wide range of organisational environments.
Structure of the programme
Programme members complete six 20 credit modules and a 60 credit project as follows:

» Strategic Planning and Policy Formulation (20 Credits)
» Managing Information (20 Credits)
» Managing People (20 Credits)
» Managing Finance (20 Credits)
» Managing Markets (20 Credits)
» Research Methodology and Dissertation Planning (20 Credits)
» The MSc Research Project (60 Credits)

Module Description
Managers are frequently called upon to undertake in-depth studies involving one issue or a series of interrelated business problems which will necessitate a degree of research based activity. The completion of the Research Project at the MSc level ensures that successful MSc graduates are able to evaluate the methods underlying such research activity, whether undertaken by themselves or by others. It is the purpose of the Project to develop, in the course member, the ability to relate objectives, evidence and conclusions in a coherent and rational manner.
The aim of the Research Project is to provide course members with the opportunity to exercise analytical and critical skills to identify significant business problems and to determine appropriate methodologies for their problem solving strategies by evaluating evidence and reaching evidence-based conclusions. The research project emphasises methodology and rational analysis leading to rational conclusions and clear recommendations.
On completion of the Research Project course members will be able to:

Create and develop objectives relevant to the solution of one, or a number of related business problems.
Critically evaluate the ways in which relevant published literature contributes to a broader understanding of the problem.
Identify and apply the methodology necessary for the provision of evidence which is offered as the foundation for conclusions and recommendations.
Demonstrate independence, competence and confidence in undertaking detailed research into the nature of and solutions to a major business problem, and in carrying out appropriate referencing.

Course members prepare the Research Project by independent study. Each will have a research supervisor for advice and for the discussion of problems arising in the preparation of the Project. As a preparation for the Research Project course members undertake a research skills module and workshops in research methodology. Thus, much of the preparatory work will have been completed and the proposal for the Project approved prior to commencement of the Research Project.
Course members will be expected to submit a Project of between 15-20,000 words. The Project will contain stated objectives, an evaluation of existing literature, an analysis of the research methods employed, and a lucid and scholarly presentation of evidence and policy recommendations. The Project should reference all sources of information and contain a bibliography of relevant literature.

Assessment
All 20 credit modules, except for the Research Methodology and Dissertation Planning module will typically require a work assignment of approximately 3,000 words which will contribute 50% of the total marks for the module, and a two hour written examination or case study which contributes a further 50% of the module mark. However, varying methods of assessment strategy are employed across the modules. The Research Methodology and Dissertation Planning module requires a detailed dissertation proposal. The Project module requires a submission of a research dissertation of between 15,000 and 20,000 words.
Graduation
To be eligible for graduation and the award of MSc Business Management course members must gain 180 credits. Course Members are normally required to obtain a minimum of 50 per cent in each module in order to qualify for the award of Master of Science (Pass). An MSc with Distinction may be awarded where a course member’s average mark across the modules is 70 per cent or more.

Postgraduate Programmes

2011-03-16T15:08:00.000-07:00

We offer a range of full and part time postgraduate programmes to allow students from all walks of life, and from all organisational, business and educational backgrounds, to gain worthwhile qualifications and experience and prepare or develop a successful career in management.
The postgraduate programmes at GSoM are designed to be flexible and help students obtain a respected qualification in a relaxed and supportive environment. A Master degree or indeed a Doctoral qualification will allow you to become an effective and respected manager or leader in today’s competitive business world.
Our affiliations with the University of Plymouth and the University of Wales allow us to provide outstanding internationally recognised qualifications studied one of the most attractive and historical parts of London: Greenwich.
For more information on postgraduate study options available at Greenwich School of Management please click on one of the links below:
University of Plymouth Postgraduate Programmes

Master of Business Administration

MBA Strategic Management Pathway
MBA Financial Management Pathway
MBA Human Resource Management Pathway
MBA Marketing Pathway

Executive Master of Business Administration

Executive MBA Management Pathway
Executive MBA Health Services Management Pathway

Master of Science

MSc Oil and Gas Management Pathway
MSc Leading & Managing in Healthcare Organisations Pathway
MSc Procurement Management

BBA Application procedure

2011-03-16T15:06:00.000-07:00

Entry requirements
The minimum entry requirement for the BBA programme is the equivalent of a US High School Diploma, i.e. 5 UK GCSEs at Grade C or above, or 5 UK GCE 'O' levels, or equivalent overseas qualifications. Proficiency in spoken and written English is also a requirement.
Visa requirements
The minimum requirement for a UK student visa is 15 hours per week of daytime study. International students are reminded that they must comply with Home Office Regulations, particularly with regard to attendance. Full attendance on the BBA Programme fulfils this requirement. Absence due to illness must be supported by a medical certificate.
Visa renewal
Greenwich School of Management is under obligation to provide records of students' attendance and progress to the Home Office. Failure to attend lectures and examinations may jeopardise students' educational status and eligibility for visa renewal.
How to make an application
To make an application you must send us the following information:

Your completed GSoM Application Form - Application forms are available in your prospectus pack or you can click here to complete the form online. If you need any help or advice before completing the application form please write to or telephone the School and speak to a counsellor who will advise you.
The GSoM International Student Declaration Form - If you require a Student Visa to study in the UK you will be required to complete this form. Click here to download a copy of the International Student Declaration Form.
Copies of your qualifications as listed on your application form.
Your CV / Resume detailing your educational and professional achievements.
A Reference from a place of study or an employer. - References must be on letterhead paper, signed and dated by your referee.
A photocopy of the relevant pages of your passport. - For example front cover, personal details page and any pages indicating relevant visas or migration stamps.
The Application Fee of £130. - This can be paid by cheque or postal order made payable to ‘Greenwich School of Management Ltd’. Credit / Debit Card, or by Bank Transfer (click here for the GSoM account details). The application fee is entirely refundable should you not be accepted.

Send the above to the Admissions Department at GSoM either by post or email admissions@greenwich-college.ac.uk. To email your application, scan and attach your documentation and arrange the application fee payment as above. If you wish you can submit an application in person.

Bachelor of Business Administration (BBA)

2011-03-16T15:04:00.001-07:00

The Bachelor of Business Administration (BBA) degree programme is conducted by Greenwich School of Management as a Northwood University outreach programme studied in London, UK. Training for this undergraduate university programme leads to the award of the degree for Bachelor of Business Administration.
* Please note - the BBA prospectus is currently unavailable due to some necessary revisions. If you would like to speak to an advisor regarding this programme please contact our Admissions Team today on +44 (0)208 516 7800.
Majors
Students may choose from two majors:
BBA Major in Management
BBA Dual Major in Management and Marketing

Dual Major requires completion of the same core subject modules as for the Major in Management, but with substitution of elective Management modules for specialised subjects specific to the Dual Major. The requirement for each of these majors is detailed fully on the individual programme pages.

GSoM Taught Subject Modules
The Bachelor of Business Administration (BBA) programme starts with progressive learning of key elements of business management through 31 subject modules taught at Greenwich School of Management. Students with relevant, recognised experience or qualifications prior to their enrolment on the BBA programme may obtain credit transfers as detailed under 'Transfer of Credit Hours'.
A minimum of five subjects must be studied each semester, but additional subjects may be available wishing to make fast track progress on the programme.

Semester Credit Hours
All modules on the BBA programme confer 3 semester credit hours, giving a total of 124 semester credit hours for the full programme. A minimum of 124 semester credit hours are needed to obtain a BBA degree from Northwood University.
Northwood Online Modules
In addition to the 31 modules taught at Greenwich, students must complete a total of 31 semester credit hours with Northwood University which require students to carry out their own analysis of reading matter selected by Northwood. These are normally completed in the UK within the duration of the programme. Student are required to submit work online to Northwood for assessment .

Transfer of Credit Hours
Credit hour transfers may be granted for relevant, recognised qualifications held by students prior to enrolment on the BBA programme. Credit hours may be granted for any of the 31 modules taught at Greenwich School of Management, but not for any Northwood Online courses.

Programme Duration
The full duration of the programme is 7 semesters without any credit transfers from previous qualifications. One semester is approximately four months long and students are required to study a minimum of 5 subjects each semester. This duration is reduced for students awarded credit transfers for previous qualifications.

Starting Dates
The BBA Programmes have enrolment dates in February, June and October each year.

Forex Trading Made Easy:

2010-09-01T00:24:00.001-07:00

Are you kidding me? Forex trading isn't easy, it's about as risky a financial endeavor as you can legally participate in.Wait, let me rephrase that... foreign exchange trading is easy, success isn't. Yeah, that's right, that's my tag line. It's true.If you are looking for the easy button, here are some platitudes for you:Buy low and sell high.Have inside access to national economic reports.Witness a major international incident prior to the news reports.If you are willing to work hard, be patient, and work to preserve your capital, then here are some more helpful suggestions:Wait for a buying opportunity before entering a market.Manage your risk via position size and stop loss orders.Learn to recognize when you should not be trading.

Why Forex Is So Popular Nowdays:

2010-09-01T00:23:00.001-07:00

Here the most important reasons why Forex is so popular nowadays:• Liquidity. Forex is the largest financial market in the world, with the equivalent of over 3-4 trillion changing hands daily when the volume on the stock markets is only 500 billions of dollars. • Flexibility. Because of 24-hour trading participants of the foreign change market would not wait to react on some events, as this happens on other markets (for example: stock markets). On other markets you simply can be late if you have to wait till morning to show your reaction, as in the morning the event will be already in the price, greatly differ from the desired level.• Lower transaction costs. Traditionally the Forex market has no commissions, except spread, the difference between ask and bid prices.• Price stability. High liquidity helps ensure price stability, when unlimited contract size can be executed at a fair price. It helps to avoid the problem of instability, as it happens in the stock market and other exchange-traded markets because of the lower trade volume, where at one price only limited number of contracts can be executed.• Margin. Margin size for trading on Forex is defined in the contract entered between a client and a bank or a brokerage company, which gives the opportunity to enter the market for the individuals and usually it is 1:100. So, the collateral of 1000 US dollars allows a trader to make deals on $100.000. Such high leverage combining with the rapid rates fluctuation make this market profitable but at the same time extremely risky.

Forex Trader

2010-09-01T00:21:00.002-07:00

It is a sad fact that 90% of traders fail, and many very quickly give up. Why? When I went through a phase of losing trades I treated it as a temporary setback and went back to the drawing board. I analysed the reasons of my failure and I sought the guidance of Top Traders, Mentors and Coaches to put me back on the path of success and profitability.In my opinion the high rate of failure for a new trader can be related to the six major obstacles that a trader faces, which are summarised as follows –Poor SkillsLack of adequate capitalSetting unrealistic targets and goalsLack of PatienceLack of disciplineHigh risk aversion.If we look at the list, it becomes apparent that the failure is as a result of trading without having in place a proper Trading System and a Trading Plan– One that includes mind training, quality Forex education and strategies and sound money management rules.

How Forex Market Work

2010-09-01T00:21:00.000-07:00

Take a coin and toss it into the air. As the coin spins in the air you have no idea and cannot predict which way it is going to fall. Yet over many tosses the outcome can reasonably be predicted. Just as we can predict the tosses of a coin with probability, so too can we use probabilities to predict market direction. When you trade you need to trade with the probabilities and odds in your favor.In recent years many academics have scoffed at the idea that markets can be predicted and they point to the theory of Random Walk. The theory is based on the assumption that markets are efficient. The market is one where a large number of equally well informed people actively compete to try and maximize profits.

Forex Trading System

2010-09-01T00:20:00.001-07:00

You are a Forex Currency Trader. But how can you avoid the risk of losing money if you are a newbie? Do you wish to have an advisor who could help, and offer you a strategy of trading? Forex Trading System can do this for you. It interprets data from the marketplace, and helps you minimize risks and make a profit.

Forex Trading Tips

2010-09-01T00:19:00.000-07:00

Forex Tip -Always trade with a stop order, not because you expect to lose, but to prevent a large loss from an unexpected news event like a currency devaluation, terrorist attack, tsunami, or whatever. Nobody can predict tomorrow.Initial stops for slower moving pairs (NZD/USD, AUD/USD, EUR/USD, USD/CHF, EUR/CHF, EUR/GBP, USD/CAD) should be in the range of 20-25 pips. Just verify where the pair was trading the last few hours before the current movement started using a conventional chart found on most brokerage platforms. You can also look at the “lows” and “highs” on the smaller regression channels found in each plan to check these values against the pricing over the last few hours, they always match up well. Initial stops for buys should be placed below the recent lows for the last few hours of trading, initial stops for sells should be placed above the recent highs. These instructions are simple don’t overcomplicate it, remember stops are disaster protection you are trading with the trend. For more volatile pairs add some pips to your initial stop.

Forex Trading System - A Key To Successful

2010-09-01T00:17:00.003-07:00

Every one has his days when no matter how well he has planned out his trades, he may find some of his trades not performing to what is planned. It is only natural for one to feel upset, but for the follower of a forex trading system, making money or losing money from that trade is not the paramount objective.Why is this so?For the trader who employs a forex trading system, he can still face the losing trade with a smile, because he has had followed through the trading signals in a disciplined way, and it is only when a trader follows a system, he can be sure of keeping his losses small and to live to trade again anotherday.By using a forex trading system, the trader can have a cool head, and can face his trades rather unemotionally. He can execute his trades following pre-determined price levels of initial stop loss, trailing loss and computed and projected price profit.

Foreign Exchange Trading

2010-09-01T00:17:00.001-07:00

Foreign exchange trading is generally conducted in a decentralized manner,with the exceptions of currency futures and options. Foreign exchange has experienced spectacular growth in volume ever since currencies were allowed to float freely against each other. While the daily turnover in 1977 was U.S. $5billion, it increased to U.S. $600 billion in 1987, reached the U.S. $1 trillion marking September 1992, and stabilized at around $1,5 trillion by the year 2000.Main factors influence on this spectacular growth in volume are indicated below.For foreign exchange, currency volatility is a prime factor in the growth of volume. In fact, volatility is a sine qua non condition for trading. The only instruments that may be profitable under conditions of low volatility are currency options.

FOREX Trading Strategy - The Secret of Timing

2010-09-01T00:16:00.001-07:00

Once you've identified a trading opportunity, the next step is to decide EXACTLY when to buy - and this is where many traders go wrong.Here we explain how to incorporate better market timing into your FOREX strategy - so that you can make bigger profits.Most traders time their entry levels incorrectly, so here's the right way to do it:Using Support and Resistance Correctly A basic wisdom of market timing is buy low, sell high well, the reality is, if you try this in FOREX trading, you'll end up losing money. First, let's define what support and resistance means.A support level is a historical price that traders come in, and buy to it support the market and the more times it's tested, the more valid the support will be.

24 Hours A Day 6 Days A Week

2010-09-01T00:15:00.001-07:00

Well, that's true, but not.Apparently the markets are closed from Friday at 4:00pm EST until Sunday at 5:00pm EST. I don't know about you, but that sounds like a 48 hour closure to me. Sure, there is only one day that trading does not occur, but that is semantics.A 48 hour closure means that you can trade 24 hours a day for a period of five days straight.A minor point, but I'm sitting here in an open position and I'm going to have to watch world news and events for two entire days!

Forex Day Trading System

2010-09-01T00:14:00.002-07:00

Forex Day Trading System - How much is the importance of candlesticks.Candlestick patterns are important and very important. When you look at a daily chart, the candlestick formations are very reliable..They point to hammer, hanging man, morning star, evening star and other formations very accurately.

Trading A Longer Time frame

2010-09-01T00:14:00.000-07:00

FOREX Re thinkThough I've been trading the AUDJPY on a 15m chart quite a bit, and with reasonable success, I am thinking about moving to a larger time frame. Well, to be accurate, it's not so much that I plan to use a different chart. What I really want to do is accumulate positions over a longer period of time.Do you know why?Because, if I can accumulate a bunch of positions that are at some level of profit, I can make incredible gains during a longer term market move. For example, if you have an appropriate part of your account at risk, plus you have multiple in-profit positions protected by a stop loss, all of them will bring returns during an extended upswing.

Increasing of Corporate Interest

2010-09-01T00:11:00.003-07:00

A successful performance of a product or service overseas may be pulled down from the profit point of view by adverse foreign exchange conditions adviceversa. An accurate handling of the foreign exchange may enhance the overall international performance of a product or service. Proper handling of foreign exchange generally adds substantially to the rate of return. Therefore, interest in foreign exchange has increased in the past decade. Many corporations are using currencies not only for hedging, but also for capitalizing on opportunities that exist solely in the currency markets.

Why Forex?

2010-09-01T00:11:00.001-07:00

Nowadays Foreign Exchange Market (FOREX) is the most profitable sector for your investments. Unlike other financial markets the Forex market has no physical location, like stock exchange, for example. It operates through the electronic network of banks, computer terminals or just by phone. The lack of physical exchange enables the Forex market to operate on a 24-hour basis, spanning from one zone to another across the major financial centers (Sydney, Tokyo, Hong Kong, Frankfurt, London, New York etc). In every financial center there are a lot of dealers, who buy and sell currencies 24 hours a day during the whole business week .

Trading with EUR,GBP

2010-09-01T00:10:00.001-07:00

Trading with EUR, GBP - The popular currency pairs.Ever thought which are the most popular currency pairs to trade? Yes, EUR/USD is the popular of all and generally has tightest of spreads which is 2-3 pips depending on the broker.The next is GBP/USD - the highly volatile and has spread of 4-5 pips. What follows is USD/CHF and USD/JPY. Generally have 4-5 pips spread.Remember the high the volatile the currency pairr is, the more it will honour technical analysis and corresponding indicators such as EMA, fibonacci levels, MACD, RSI etc. etc.The exception being USD/CAD and USD/JPY which I have noticed is highly fundamental announcements and news impacted. Such as Oil price drives USD/CAD very heavily.

Domain Ownership

2010-09-01T00:09:00.001-07:00

"This post confirms my ownership of the site and that this site adheres to Google AdSense program policies and Terms and Conditions."