Business

Explaining 24-Hours trading

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Explaining 24-Hours trading

Although other nations like Canada and Mexico contribute to the North American market, the U.S. markets’ activities dominate the North American Session. When the North American Session is halfway through its trading hours, the European Session starts after the Asian Session has already ended.

The North American Session, often known as the New York Session, accounts for 16% of all forex volume worldwide.

When it comes to choosing the best forex trading platform, it’s essential to consider factors like usability, reliability, trading tools, and customer support to ensure a seamless trading experience.

24-Hour trading Explained

A quality of select markets that allows investors to trade throughout the clock is 24-hour trading. Traditional stock markets operate in a time window based on the working hours of the jurisdiction in which they are located. Yet, due to the global nature of modern online trading, investors from regions with a significant time difference may have inconvenient market opening hours. Spread betting can be done on stocks, indices, commodities, and currencies.

Certain markets are open around the clock to allow global investors to trade at convenient hours. Forex and crypto are two of these markets. To provide fewer trading opportunities for international investors, certain more traditional markets, such as stock trading and options, operate during longer “trading hours” (GTH).

What can you Trade 24 hours a Day

You might be wondering, “What can I trade 24 hours a day?” at this point. Our specialists have examined the around-the-clock trading possibilities of significant markets to assist you in finding 24-hour trading opportunities.

Forex

Forex, or foreign exchange markets, different currencies against one another. Forex thus requires a 24-hour trading market.

The forex markets are open 24 hours a day, seven days a week, and use three overlapping regional clock periods to align themselves with the low period. The Australasian region, which includes the Sydney and Tokyo sessions, is the first market to open. From 10:00 PM UTC to 9:00 AM UTC, these markets are open.

Based in London, the next session will represent Europe. The time frame for this session is 8 UTC to 5 UTC. The New York market session lasts from 1 PM UTC to 10 PM UTC and is the third and final session.

Other Options to Trade 24 hours a day include:

  • Cryptocurrency
  • Options
  • Futures
  • Stocks & ETFs
  • CFDs
  • Binary Options

Advantages Of 24-Hour Trading

  1. More Trading Signals: Longer or longer market hours produce more actionable trading signals for day traders to speculate on.
  2. Global trading: The availability of a 24-hour market allows investors worldwide to trade well-known financial assets.
  3. Additional price history and data: A market that trades for longer periods each day has more trading data that traders may utilise to develop evidence-based strategies.
  4. Unique Dynamics: 24-hour markets, like forex and crypto, have unique dynamics that allow for alternate trading strategies.

Disadvantages of 24-Hour Trading

  1. Missed opportunities: When away from their computers or trading applications, investors may lose out on trading opportunities in 24-hour markets.
  2. Risky strategies: Investors frequently use instruments like expert advisors (EAs) or automated trading bots for full-time, round-the-clock market monitoring. It is risky to run these apps unattended.
  3. Trading/life balance: Traditional market hours allow investors to disengage from global markets. Retail traders may find it more difficult to establish strong boundaries in 24-hour trading markets.

24-Hour trading Strategies

Our experts have put together several 24-hour trading strategies for beginners if you’re eager to start trading around the clock.

Trading the News

Trading the news is a universal strategy, but it may be especially successful when trading on a global market with prolonged hours, like forex, crypto, or energy, and precious metals CFDs.

24-hour markets allow investors to follow and respond to events anytime, whether they want to “buy the rumour, sell the news,” as many suggest, or trade on breaking news. It also provides traders a head start on potential changes to the NYSE’s opening price, for instance.

Due to automating this strategy’s complexity, bots may have problems entering the market before humans do.

Forex Session Overlaps

Using greater volume and liquidity when two forex sessions overlap is another 24-hour trading strategy. These periods might magnify price fluctuations based on global events, regional economic changes, and other variables.

Historically, the period with the highest volume occurs when the London and New York sessions coincide.

Trading Bots

While trading CFDs or crypto, investors can automatically trade around the clock by using a 24-hour trading bot or expert advisor (EA). These bots may be purchased using predetermined signals or configured using patterns.

While crypto platforms like Pionex enable customers to use more than 15 integrated trading bots for free, most CFD platforms support EAs through platforms like MetaTrader 4 and MetaTrader 5.

Crypto Spot / Futures Arbitrage

Since the crypto markets operate around the clock, futures are traded as everlasting contracts across popular currencies like Bitcoin and Ethereum. The Spot / Futures Arbitrage strategy allows investors to exploit these everlasting contracts with futures markets.

A premium of over 15% a year can be earned by traders who maintain both futures and spot positions. Of course, traders may do this manually, but beginners, they can utilise pre-built bots for 24-hour trading to get passive money.

Final Words

Around-the-clock trading may give investors several advantages. They have a significant positive impact on investors who reside in countries remote from important trading hubs. 24-hour or longer hours are advantageous for instruments like forex, CFDs, cryptos, and well-known option contracts.

To automate their 24/7 security trading strategies, traders frequently employ bots. It might be risky to leave systems unattended. Perhaps missing market movement outside of your time zone is another disadvantage of 24-hour trading.

Understanding PRINCE2® and its Importance 

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PRINCE2® is a structured Project Management method for Projects in Controlled Environments. The UK government initially established PRINCE2® in 1989 for its Information Technology projects. This method is mostly used for managing projects. It is a method based on experience drawn from thousands of real-life projects.  Additionally, it derives inputs from various experienced project managers, trainers, consultants etc. It is designed to be quite generic and mouldable. 

Table of content 

  1. What is PRINCE2®? 
  2. PRINCE2® accreditations 
  3. Seven PRINCE2® Principles 
  4. How can PRINCE2® benefit you? 
  5. Conclusion  

What is PRINCE2®? 

PRINCE2® is a Project Management methodology that suits the requirements of a project of any scale or size, various industries, tools and teams. This technique can be applied or combined with a hybrid Project Management methodology. It assists in increasing the efficiency of the workflow, making it much smoother and more feasible.   

It has the ability to fit into any industry or organisation. Working within a framework is difficult when it comes to project management, but PRINCE2 makes this easier for the project team. 

PRINCE2® Accreditations 

It is essential that you acquire accredited certifications in PRINCE2 if you want to build your career in Project Management. The two qualification levels required to complete the PRINCE2 certification are: 

PRINCE2® Foundation 

PRINCE2® Foundation confirms your knowledge and understanding of the method. You learn all the significant concepts of PRINCE2® methods by training for the foundation credential. If you want to pursue a project management career, choose PRINCE2® Foundation & Practitioner Training Course to manage projects efficiently. This will help you to plan, manage and deliver projects from start to finish.   

PRINCE2® Practitioner 

PRINCE2® practitioner testifies your knowledge and skills to apply and adapt the method in a real-life scenario. 

Seven PRINCE2® Principles  

  1. Continued business Justification– Any project should have one or more valid reasons for applying the PRINCE2 method before you initiate it. This justification should carry throughout the duration of your project. 
  1. Learn from experience– It requires all the project members to learn from their experience or any early stage of the present project. Reviewing the lessons learned from previous projects helps imply an improvement in upcoming projects. Lessons learned will assist the team in proactively identifying, mitigating and managing the overall risks in the following projects.   
  1. Defined roles and responsibilities- The project team consists of a organisational structure. Tasks should be assigned according to the skillset of the team members keeping the business, user, and supplier stakeholder interests in mind. 
  1. Manage by stages– PRINCE2® project should be planned, monitored and controlled on a stage-by-stage basis. The right Project Management phases will be chosen based on the project’s size and complexity, deadline, control points, and organisational norms. 
  1. Manage by exception– The project board has the authority to make any modifications to the project in exceptional cases when the requirement arises. Board members are usually involved in determining the cost, schedule and risks involved in the project. Usually the execution of the project is done by the Project Manager. But if the need arises, board members can intrude and make any changes based on the established requirements.   
  1. Focus on products- To achieve better outcomes, these projects concentrate mostly on the product identification, execution and quality criteria. 
  2. Tailor to suit the project environment– PRINCE2® must be tailored to suit the project’s requirements, such as the size, cost, complexity and control points. 

How can PRINCE2® benefit you? 

Greater employment opportunities– Using PRINCE2® Certification, you will get the chance to work in roles such as Project Administrator, Project Coordinator, Project Analyst, and Program Manager. 

Increased salaries– The certification will help you land better employment opportunities with high pay grades. 

No arbitrary prerequisites– One of the significant benefits of PRINCE2® Certification is that it has no formal prerequisites. Anyone can apply for it, even without having any prior experience. 

Designed to adapt to any industry– The practice-driven management style of PRINCE2® is well-known throughout the world. It may be customised for any project type, including Agile projects.  

Better Project Management skills– Adopting the PRINCE2® methodology will maximise project control, hence increasing the probability that your project will be successful.  

Increased sales of projects– Clients tend to hand over projects to those organisations where they see that the Project Manager is PRINCE2® Certified. 

Conclusion 

Using PRINCE2® Certification, you can develop your project management skills. It is advised that all Project Managers should preferably learn PRINCE2® because of the many benefits they will gain. Compared to other conventional methods, PRINCE2® is widely popular as it uses a more defined methodology. It clearly defines each individual’s responsibilities in the team and clarifies the work process.  

11 Best Sites to Find Gig Jobs

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Intro:

Individuals who want to earn extra cash with side hustles have no shortage of sites to check out. In addition, some of those gig jobs can turn into full-time work under the right circumstances.

Entering 2023, the number of sites to find gigs has increased. Most platforms cater to niches. For example, independent contractors searching for delivery opportunities can check out AmazonFlex and DoorDash.

Individuals interested in writing, marketing, or graphic design work can visit Upwork, TopTal, and 99designs.

Uber and Lyft remain excellent options for those seeking rideshare gigs, while TaskRabbit is great for those who can provide labor-related services.

In other words, a site for most niches exists.

We listed the 11 best sites to find gig jobs.

  1. TaskRabbit

Leah Busque launched TaskRabbit in Boston, Massachusetts, in 2008. The platform matches people seeking labor-related services with those who can provide them.

As you browse our list of best gig job sites, remember that the Internal Revenue Service has categorized gig workers as small business owners. Therefore, freelancers must register their businesses and purchase self-employed insurance to protect themselves.

  1. FlexJobs

FlexJobs launched in 2007. The site has become the top platform for matching individuals with remote, flexible, and work-from-home opportunities.

Plus, the site screens candidates and provides opportunities to weed out ads and potential scams.

The top categories on the site include:

  • Customer service
  • Medical and health
  • Computer and IT
  • Accounting and finance

Users will also find resources that help them find the right opportunities on the platform.

  1. Upwork

Upwork launched in 2013 as oDesk. The platform merged with eLance and rebranded to its current name in 2015.

Its continued growth shows that the platform still attracts talented freelancers and well-paying clients.

Upwork caters to in-demand skills such as:

  • Administrative
  • Design
  • Copywriting
  • Finance and accounting
  • Marketing

Therefore, entrepreneurs searching for professional gigs can browse this site.

  1. Toptal

Toptal caters to the top 3% of freelancers seeking software, finance, design, and product management opportunities.

The site is an exclusive network that matches high-quality gigs and jobs with entrepreneurial professionals.

  1. 99designs

99designs connects graphic designers with quality gigs. The platform matches designers with clients seeking logo and website work.

Launched in 2008 in Australia, the platform continues expanding its reach in this niche.

  1. Uber Eats

Delivery gigs have gained traction since demand has picked up. Moreover, the economic shutdowns of 2020-1 forced restaurants and eateries to add delivery as an option for their customers.

Uber Eats delivery drivers earn between $15 – $18 hourly. In large cities and downtown areas, freelancers can find sustained work.

  1. DoorDash

DoorDash launched in 2013 and overtook Uber Eats in sales. The gig platform remains the second most popular delivery service behind GrubHub.

Dashers can earn $25 hourly, and the platform allows them to keep 100% of their tips.

  1. Amazon Flex

Once Amazon captured the eCommerce market, it only made sense that the company would establish its own distribution and delivery network. Enter Amazon Flex.

Drivers can earn between $15 to $18 hourly. After qualifying for the delivery opportunities, drivers download the app and start picking up routes.

  1. Uber

Uber disrupted the ground transportation sector in 2009. It also helped fuel the sharing economy as Millennials leaned into the ridesharing service. In 2022, an estimated one million drivers provide rides to 93 million users.

Uber drivers earn an estimated $38,000 annually.

  1. Lyft

Logan Green and John Zimmer launched Lyft in 2012 and remain the closest rideshare competitor to Uber.

Lyft has become the choice for riders in some markets. Thus, Lyft drivers earn between $15 to $18 hourly.

  1. CraigsList

In some ways, CraigsList is the original gig job site. Craig Newmark launched it in 1995 as an email list. Then, it turned into a website for classified ads. In 2022, the site still has a jobs and gigs section that users can browse to find opportunities.

To apply for gigs, click on the link and copy the ad code into an email.

Gig categories include:

  • Computer
  • Event
  • Labor
  • Writing
  • Creative

Conclusion

The best gig site per freelancer depends on the skills and work they want to complete. Each site listed above provides consistent work and helps independent contractors maximize their incomes.