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Selection of an Online Trading Platform

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After picking a broker and registering on the website, the novice trader goes to the next stage. Now, there is a need to choose a trading platform. This is because most reputable brokers, such as AvaTrade, know that users have different preferences. Therefore, various Trading Platforms (TPs) are created and designed for different requests and situations. The main goal of the broker is to meet the needs of clients and create comfortable conditions for earning money.

Depending on the level of knowledge and experience in Forex (FX), the user chooses the type of trading on the TP: manual or automated. In this case, various devices can be used: tablet, smartphone, PC, and so on. As a result, you can exchange not only real currencies (they are called fiat) but also crypto. On the TP, you can use practical and analytical tools, including viewing charts, indicators, graphs, statistical tables, and more.

On the broker’s website, you first need to visit the page dedicated to selecting a platform: read the terms of cooperation and try to choose a suitable TP. If you are not sure, you can try the free trial version (demo) to avoid risking real money. If everything suits you, you can launch one of the platforms. You should keep in mind that some of them do not require downloading.

Definition of a Trading Platform

A trading platform is a figurative concept. It’s not about a real object but about a virtual one; in other words, TP is a software that allows you to trade the stock exchange with maximum convenience. For instance, you can open or close trading positions; you are provided with “control levers” that you can use at your discretion. In addition, you get up-to-date quotes for various assets (financial, digital, and so on). You can also view economic, trade, political, and scientific market research news, guides, articles, tips, expert recommendations, and more. On TP, you can monitor your progress by looking at graphs and making diagrams yourself. Platforms have different functions and capabilities. Next, we talk about what types of trading platforms are relevant today.

Main Types of Trading Platforms

Proprietary TPs

These platforms are designed specifically for large companies so that they can speculate at the expense of their own assets. Profits are generated by market fluctuations. Modern analysis methods have made it possible to implement complex algorithms and high-frequency trading (abbreviated as HFT). Proprietary TP is suitable for investors and companies with high profitability potential. Working on such platforms requires a professional understanding of the market, quick analysis of the situation, the ability to make urgent decisions, the availability of assets, etc.

The income of proprietary brokers is generated by successful trades, not by commission: traders do not pay commission but they have to give back part of the profits. This percentage is low and varies depending on the broker, region, market situation, and other factors. It is proprietary companies that adapt most quickly to a rapidly changing market by using innovative methods and having a good technical base. It is necessary to keep in mind the increased level of risk in proprietary trading. When working for such TPs, you have to maintain strict control and use risk management.

TPs with Manual Control

Recently, platforms with manual control have been in great demand, as the trader can manage the process: open or close positions. In this case, the user gets a precious experience. Retail investors can trade assets at an amateur or professional level on AvaTrade’s MT4/5 platforms. If you have any questions about the terms of cooperation, you can go to the broker’s official website and enter a request in the online chat and the bot responds to you without delay. Experts recommend starting with manual online platforms in order to gain basic knowledge and understand how the exchange works.

Automated Platforms

You need to know that some manual platforms have an automatic mode (for instance MT5). This technology makes it possible to trade without wasting personal time. Your applications are served within the time period specified by you without your presence. There are TPs for retail traders who focus on automatic operation. An example is Dupli-Trade. The advantages of automatic operation are that you can set up a complex trading scheme remotely and earn a stable income over a long distance. There are many articles on profitable trading strategies on the internet. We remind you that the success of a novice trader largely depends on the choice of a broker. If you sign up on AvaTrade’s website or another one, you can start with just $100 in your account. You would select the MT4 platform and try to create a trading position manually. You can try the automatic operation on the Dupli-Trade platform.

Moving forward

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Moving forward

If you want to move forward with your business you need to think about the future. Much as you are caught up in today’s deadlines and stress, you need to design for the future, being the period between eighteen months and five years from now. The process consists of three steps:

  1. Envision: carefully articulate a clear vision about where you want to drive the industry you are in.
  2. Prepare: Find the shortest route between where you are now and where you want to go.
  3. Deliver: Determine on what basis you will compete, once you have arrived at your new destination.

If you want your company to b a market leader and one of the best in your field, you will not only constantly be improving your current operations, but you will be committed to creating a new competitive position in the future. What exactly that vision is, only you will know. You must come up with your own vision, unique to the kind of business you are in. To develop this vision you will begin with scanning the horizon and environment of your industry. In doing so you will identify opportunities. You will anticipate demand and to be able to do this you must develop insight in trends in technology, demographics, regulation and lifestyles, which will help in creating a realistic vision for the future. Having does this well, the foundation has been laid to prepare for change.

Your company must identify the gaps between its current competitive strengths and tomorrow’s competitive requirements. Once these have been identified, the next step is to determine how the gaps will be closed. Will you develop the needed skills and technologies on your own? Will you do it through collaboration with others? Or will you do a little of both? Most companies choose the last approach, as they soon discover that they cannot create the future single-handedly. They build their own new core competencies and then build alliances with others.

Core competencies are the skills and technologies unique to an organization. Building new core competencies requires management to adopt a whole new perspective on how it will manage its future. The company is now forced to take a proactive role in creating its own future. This begins with a good understanding of the differences between today’s customers and those the company is likely to be serving in the years ahead. This is followed by a detailed examination aimed at unearthing the core competencies that currently underlie the company’s competitive performance. Once the existing core competencies have been identified, the focus shifts to the future and the following questions come up:

  1. What new skills and technologies must we develop or acquire in order to get to the future first?
  2. Which of these core skills and technologies should we develop internally and which should we acquire from outside?

The next task is to strategize how each can be realized. Now because of the costs and risks involved in building leadership in a core competence area, few companies normally want to go it alone. Most find it necessary to join forces with others, who offer critical complementary resources. This means forging new strategic alliances, something that is not quite common yet in the Ethiopian context. We should however open our eyes to developments around us and understand why we see more business networks developing. Reasons include:

  • Globalization. The competition is no longer only local, but also international as time and distance become less important. Even small companies must be ready for international competition even though they do not have any intention of being international. Small firms need therefore to forge alliances in order to extend their reach and achieve the same benefits of scale as larger competitors. 
  • Sharing the risk. Where new opportunities are identified and the potential rewards are great, so are the risks, which is why few dare face them alone.
  • Filling the gaps. Few companies are able to master all of the required skills on their own. Most focus on their own unique core competencies and then network with others who have the competencies and resources they lack.
  • Organizational learning. Learning is indispensable and joint ventures help strategic partners to learn from one another.
  • Establishing new technical standards. In emerging industries, where a common standard has yet to be established. There is often a fierce completion to develop that standard. The winning standard often determines who makes money from the future and who doesn’t.

There are many different ways in which alliances can be forged, ranging from temporary and weak to long-term and strong. There are networks of individuals, joint ventures and partnerships. Many companies feel the need to simultaneously participate in different kinds of relationships, while playing a different role in each.  Next week we will look into the third step in designing for the future: Deliver.   

Ton Haverkort

Reference: “Mission Possible” by Ken Blanchard and Terry Waghorn.

Ethiopian Christmas: Harmony and Hope Celebrating Ethiopian Christmas Amidst Challenges

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Ethiopian Christmas: Harmony and Hope Celebrating Ethiopian Christmas Amidst Challenges

A new generation called Janderebaw embraces faith and tradition to promote peace in conflict times. Ethiopian Christmas exemplifies the resilience and unity of the faithful amid conflict and calamity.

Ethiopian Christmas, known as Genna (ገና) or Lidet, is a joyous feast that commemorates the birth of Jesus Christ on January 7th, as per the Eastern Orthodox Church’s calendar, Ethiopians follow the Julian calendar, which runs 13 days later than the Gregorian calendar, used by Catholic and Protestant churches. They traditionally celebrate by slaughtering animals and joining family members to break the fast after midnight. The celebration combines religious ceremonies with a traditional play, Yegena chewata (የገና ጨዋታ) in Amharic, which translates to the Christmas play.

This year for the second time, a landmark event unfolded as hundreds of thousands of Orthodox Christian youth in Addis Ababa and Dire Dawa cities celebrated Christmas Eve, In Addis Ababa at the Bole Madhanemalem (መድኃኔዓለም) Cathedral. This cathedral, one of the largest in the city, hosted a gathering where participants, followed priests who lit candles and sang spiritual hymns. The participants wear white clothes, a symbol of purity and protection from evil forces in their tradition. They engaged in prayers and sang Yea’elafat Zmarie (የአእላፋት ዝማሬ) in Amharic means spiritual Song of the Multitudes. The event has become the talk of the country in the past week.

This celebration was organized by the Ethiopian Janderebaw Generation religious organization, operating under the Ethiopian Orthodox Church (EOTC). The organization focuses on creating a generation shaped by the personality of St. Bakos (ባኮስ), the one who brought Christianity to Ethiopia. The Christmas Eve event gained substantial coverage from both local and international media outlets, including AP, Washington Post, Africa News, Getty Image, CGTN, USA Today, The Citizen, Boston Globe, Voice of America, Daily News Record, Sputnik, and others.

In the program, His Holiness Abune Mathias, the Patriarch of the Ethiopian Orthodox Tewahdo Church (EOTC), participated and gave a speech during his blessing, highlighting that the spiritual Song of the Multitudes “Yea’elafat Zmarie (የአእላፋት ዝማሬ)” is prepared by the will of the Holy Spirit and serves as a spiritual song of peace. His Holiness emphasized the significance of peace and its value, expressing his desire for tranquility in Ethiopia.

Moreover, during his televised Christmas Eve message, His Holiness Abune Mathias advocated for reconciliation and harmony within the country, which has been frequently afflicted by ethnic conflicts. Various regions of Ethiopia have recently experienced natural calamities, such as mudslides and earthquakes in remote areas of Afar, Amhara, and Oromia, resulting in the displacement of thousands. The rift in the nation of 130 million people remains evident, even during Christmas celebrations. The ongoing discord seems to mirror the numerous divisions that continue to plague Ethiopia more than two years after a flawed ceasefire ended the bloodshed in Tigray, instigating fresh civil unrest in the Amhara and Oromia regions.

Nevertheless, as Ethiopia celebrates Christmas, many in other parts of the country were compelled to observe Gena amidst challenging circumstances, with the ongoing conflict with rebels primarily concentrated in Amhara and Oromia regions. Approximately 15.8 million people need food assistance in 2024, with malnutrition affecting all children under the age of five. This includes around 4 million internally displaced persons who have fled their homes due to the 2020-2022 conflict in the north and severe drought in the south and southeast. UNICEF reports that 9 million children have dropped out of school as a result of the nation’s humanitarian crisis, which has substantially dampened the festive spirit of Christmas. Ethnic tensions and insurgent attacks have led to mass displacements, causing hundreds of thousands to seek refuge away from their homes. These conflicts not only disrupt the lives of many Ethiopians but also undermine the social cohesion of the nation’s communities.

In the face of such challenges, religious programs like Yea’elafat Zmarie (የአእላፋት ዝማሬ) can potentially play a crucial role in addressing the country’s problems. These programs serve as platforms for unity and enhance a sense of shared purpose and understanding among diverse communities. By promoting dialogue and reconciliation, they contribute to healing the wounds caused by ethnic violence and rebel attacks.

In his message, His Holiness Abune Mathias stressed the importance of peace and its value for Ethiopia. The spiritual song of peace, Yea’elafat Zmarie, and the messages shared during the event resonate as potential tools for addressing the challenges faced by the country. His Holiness Abune Mathias is doing what he should be & is good at doing, advocating for peace and unity officially. The program not only serves as a unifying platform but also brings attention to the cultural and religious practices that play a vital role in rebuilding a fractured society.

Beyond its spiritual and communal significance, the orthodox Christmas Eve celebration also serves as a tourist attraction, drawing international visitors who seek to experience the rich cultural and religious heritage of Ethiopia. As the country navigates through challenging times, events like these showcase the resilience, unity, and hope of the Ethiopian people, offering a pathway toward a harmonious and collectively resolved future. 

Yinebeb Bahru has experience predominantly with Consultancies, Bilateral and multilateral development agencies, BPO, Tech, and finance organizations. Contact: Yinebeb251@gmail.com. Opinions expressed are personal and not endorsed by Capital. 

Can Trump Dump the Dollar?

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Can Trump Dump the Dollar?

US President-elect Donald Trump’s incoming administration will likely seek to weaken the greenback’s exchange rate. But whether doing so would enhance the competitiveness of US exports and strengthen America’s trade balance is another matter.

One of the more jaw-dropping policy ideas gaining political steam in the United States recently has President-elect Donald Trump and his team, on taking office, actively depressing the dollar with the goal of boosting US export competitiveness and reining in the trade deficit. If Trump tries, will he succeed? And what could – and probably would – go wrong?

On the question of whether Trump could weaken the dollar, the answer is clearly yes. But whether doing so would enhance the competitiveness of US exports and strengthen America’s trade balance is another matter. The brute-force method of pushing down the dollar would entail leaning on the Federal Reserve to loosen monetary policy. Trump could replace Fed Chair Jerome Powell and push Congress to amend the Federal Reserve Act to compel the central bank to take marching orders from the executive branch. The dollar exchange rate would weaken dramatically, which is presumably the point. But the Fed would not go quietly. Monetary policy is made by the Federal Open Market Committee’s 12 members, not just by the chair. Financial markets, and even a lapdog Congress, would see abrogating the Fed’s independence or packing the FOMC with compliant members as a bridge too far. And even if Trump succeeded in “taming” the Fed, a looser monetary policy would cause inflation to accelerate, neutralizing the impact of the weaker dollar exchange rate. There would be no improvement in US competitiveness or the trade balance.

Alternatively, the Treasury Department could use the International Emergency Economic Powers Act to tax foreign official holders of Treasury securities, withholding a portion of their interest payments. This would make it less attractive for central banks to accumulate dollar reserves, driving down demand for the greenback. The policy could be universal, or US friends and allies, and countries that obediently limit their further accumulation of dollar reserves, might be exempt.

The problem with this approach to weakening the dollar is that by driving down demand for US Treasuries, it would drive up US interest rates. This radical step might reduce demand for Treasuries quite dramatically indeed. Foreign investors could be led not merely to slow their accumulation of dollars but to liquidate their existing holdings entirely. And while Trump could attempt to deter governments and central banks from liquidating their dollar reserves by threatening tariffs, a substantial share of US government debt held abroad – on the order of one-third – is held by private investors, who are not easily swayed by tariffs. More conventionally, the Treasury could use dollars in its Exchange Stabilization Fund to buy foreign currencies. But increasing the supply of dollars in this way would be inflationary. The Fed would respond by draining those same dollars from the markets, sterilizing the impact of the Treasury’s action on the money supply. Experience has shown that “sterilized intervention,” as this combined Treasury-Fed operation is known, has very limited effects. Those effects become pronounced only when the intervention signals a change in monetary policy, in this case in a more expansionary direction. Given its fidelity to its 2% inflation target, the Fed would have no reason to turn in a more expansionary direction – assuming its continued independence, that is. Finally, there is talk of a Mar-a-Lago Accord, an agreement by the US, the eurozone, and China, echoing the historic Plaza Accord, to engage in coordinated policy adjustments to weaken the dollar. Complementing steps taken by the Fed, the European Central Bank, and the People’s Bank of China would raise interest rates. Or China and Europe’s governments could intervene in the foreign exchange market, selling dollars to strengthen their respective currencies. Trump could invoke tariffs as a lever, much as Richard Nixon used an import surcharge to compel other countries to revalue their currencies against the dollar in 1971, or as Treasury Secretary James Baker invoked the threat of US protectionism to seal the Plaza Accord in 1985. In 1971, however, growth in Europe and Japan was strong, so their revaluing was not a problem. In 1985, inflation, not deflation, was the real and present danger, predisposing Europe and Japan toward monetary tightening. In contrast, the eurozone and China currently confront the dual specters of stagnation and deflation. They would have to weigh the danger to their economies from monetary tightening against the damage from Trump’s tariffs. Faced with this dilemma, Europe would probably give in, accepting a tighter monetary policy as the price for rolling back Trump’s tariffs and preserving security cooperation with the US. China, which sees the US as a geopolitical rival and seeks to decouple, would probably take the opposite course. Thus, a supposed Mar-a-Lago Accord would degenerate into a bilateral US-European agreement that did the US little good while inflicting considerable harm on Europe.

Barry Eichengreen, Professor of Economics and Political Science at the University of California, Berkeley, is a former senior policy adviser at the International Monetary Fund. He is the author of many books, including In Defense of Public Debt (Oxford University Press, 2021).

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