Having a routine life is very helpful to have a healthy mind as well as in every profession. No matter which profession you are in if you maintain a to-do list then it will be really easy for you to shine in your profession. Trading is one of the riskiest professions in the world and traders always trying to reduce the risk of trading by taking lots of measures. Maintaining a trading routine is a must if you want to make a career in trading. 

As an example, suppose you want to learn to drive a car as a result you must need to know to appoint someone to teach you driving. Let’s say, your mentor shows you how to drive and puts you in the driving seat. Still, you need to do certain things like adjusting seat belts, belts, steering wheel, mirrors, fuel meter, and around you. These things are a must before you set yourself to drive. You always need to do this thing before you go for a drive and it can be considered as a driving routine and with time it will become a habit. 

So, in the trading profession, you need to make and follow a trading routine until it becomes a habit for you. In this article, we are going to guide you in making a trading routine for yourself.

Check yourself 

In the trading industry, every trader is trying to get hands-on money so there is no place for mistakes. Traders often need to take certain decisions which might not always give a positive result. Because of that traders must need to be physically ok and in a psychologically balanced condition when he is making a trading decision. 

Traders need to understand that everyone is competing for the trading market with a clear mind so if you don’t feel physically and mentally well then you should skip trading at that time. So always try to check yourself if you are 100% all right before starting a trading day.

Check balance 

Traders must need to check their balance daily before starting to trade because it works as the fuel of trading. It is important because you might not remember your account from the previous day or the previous week. Checking the balance will help you to calculate the risk and lot size for that day. 

Because the balance in your account will not be the same each day rather than it might grow or fall with your daily trading. So checking your balance will help you to understand if you can take more or less risk than the last trading day. Visit this link and learn more about advanced risk management techniques so that you can manage your trade in a better way.

Check your orders 

After you check all this then you must need to look for trades that are still open and should look at its chart if you need to close it or should move the stop loss. If your trade looks bad and the chart says that it will continue to go against you then it will be clever if you close that trade. 

Check the economic calendar

Many variables often makes the market extremely volatile.When any economic news or announcement is published, the market often makes an insane amount of movement. It is clever not to trade in that period and because of that checking, the economic calendar is a must before starting a trading day. 

Check commodity price 

If you are already a trader then you must know that currency price is related to the price of gold, oil, and copper. So, starting every trading day you must need the charts to these commodities so that you can have an idea of how the currency pairs can act that day. 

Check long term charts 

The last thing you must need to do before starting to trade you just need to check all your preferred currency pair’s chart in the longer time frame. It will help you to have a rough idea about the market. 

Having a trading routine and maintaining it is a must if you want to be a professional trader. We hope our discussed step will help you to make a trading routine for yourself and it is necessary for your betterment.

While some of the mainstream cryptocurrencies such as Bitcoin, Ethereum and Ripple, have been treading water and witnessing a downtrend movement, Theta’s THETA and TFUEL, as well as Polygon’s MATIC, have been showing positive trends: though occasionally hitting lows, all three demonstrated spikes and overall growth in price, positioning themselves as one of the top-performing cryptocurrencies on the market over the last month.

The buzz around the two networks and their native currencies as well as the community’s demand for more lucrative crypto exchange offers for MATIC, THETA and TFUEL made an instant crypto exchange aggregator Swapzone take a closer look at listed currencies to address the need for the best crypto exchange rates that it picks across the cryptocurrency exchange market.

Both Theta’s tokens gained over 50% in the light of the forthcoming Mainnet 3.0 launch, scheduled for June 30. But that may not be the only reason. Governed by THETA and fueled by TFUEL, the Theta network has also recently partnered with Creative Artists Agency, or CAA, one of the most prominent Hollywood sports and entertainment agencies that will join other big-name validators, such as Google, Sony and Samsung. This collaboration, according to Theta Labs co-founder and CEO Mitch Liu, will steer the project’s advancement in terms of full decentralization and help gain Theta wider acceptance.

Another hidden gem to look out for is Polygon’s Matic. Despite the fact that the MATIC price is falling after the recent breakout, according to analysts, the market may anticipate a sharp trend reversal, thanks to Polygon’s sidechain architecture. With social media dominance, immense tech milestones achieved and Mark Cuban’s vocal interest in the project, Polygon only continues to attract investors and secure partnerships to penetrate new industries, including insurance. Together with Infosys Ltd. Polygon hopes to reshape the sphere with the M-Setu initiative – an open-source Ethereum bridge designed to facilitate the porting of insurance policies.

“Adding support for currencies that are in great demand is crucial for us as a crypto exchange aggregator, whether a certain trend is random and occasional or not, since our main priority is to serve as an all-encompassing one-stop solution that has offers for any crypto pair, be it DOGE to BTC or BTC to THETA. Having projects with solid technology frameworks like Polygon and Theta is also something we’re very proud of”, says Swapzone.

About Swapzone

Swapzone is one of the leading cryptocurrency exchange aggregators that provides the widest selection of currencies and aggregates only the best exchange rates from over 15 exchange providers. Being non-custodial and instant, it lists exchange offers, sorting them out by real-time rates, speed, and rating, and lets users make an exchange in the same interface, ensuring common user flow for every swap. It acts both as an exchange tool and as a knowledge gateway so that the community could make an informed choice.

Transferring money internationally has become an increasingly popular and easier thing to do than it was in previous decades. Individuals and businesses have an unprecedented amount of information at their fingertips, and the ability to make investments and open accounts anywhere in the world. However, these liberties don’t come without responsibilities.

If you’re planning on sending or receiving international funds in excess of $10,000, you should familiarize yourself with the laws and regulations governing such transfers. The IRS has parameters within which you need to operate to avoid hefty fines for transferring money unlawfully. The majority of these regulations pertain to the amount of the transfer, the purpose of the transfer, and the country from which it came.

What is the IRS International Money Transfer Limit?

The IRS international money transfer limit is $10,000. If you receive an international transfer of funds into the US that exceeds that amount, you are required by law to report those funds to the IRS. This law is applicable whether you’re from the US or not. It exists to protect you, your money, and the interests of the American government and her people.

Banks in the US are required by law to report any transfers from overseas exceeding $10,000. They also report any transactions that seem suspicious or raise proverbial red flags within the banking industry. Some wire transfer companies go even farther and report transfers as low as $1,000.

Why is There a Limit on Money Transfers into the US?

The US government reserves the right to obtain information about funds coming into the country as part of national security measures. Large sums of money being transferred into the US are often investigated for potential fraud, money laundering, and other suspicious activities. The IRS places a limit on funds transfers to protect the security of the banking system and the government.

How to Receive a Large International Transfer

Receiving a large sum of money from a foreign country is less complicated than it sounds. Although it requires quite a bit of information and reporting, the process itself is fairly simple.

The Process

To ensure a smooth transfer of funds from overseas into your bank account, you should be prepared to follow the appropriate steps.

1. Gather and provide the necessary information to the sender. Ask your bank for their international wire transfer instructions and follow them. If you don’t follow the instructions and give the sender the proper information, you risk delay or cancellation of your transfer.
2. Understand the fees that are involved in your transfer. There are usually tons of fees involved in an international wire transfer, including fees from both the sending bank and the receiving bank, among others. If the transfer is between two individuals, the payment of fees can be discussed ahead of time. If you prefer, you can use a wire transfer company that can help reduce the total fees being paid.
3. Notify your bank about the incoming transfer. It’s important for your bank to know when to expect the money and what it’s for. You likely gave them this information during step one, but if not, now is the time!
4. Know when to expect your transfer and follow up on it. In the world of international banking, there are tons of things that could go wrong. Make sure you’re prepared to investigate if the wire transfer is less than what you anticipated, or takes longer than it should.

Documents Required

As you can imagine, there is quite a bit of information required in an international transfer. Here are the documents that are required to process the transfer. Depending on your banking institution, these may be online or physical forms that need to be completed.

• Photo ID
• Proof of bank account, including account and routing number
• IRS Form 3520 to inform the IRS of the money you received

Information Contained in Those Documents

The documents listed above will require a variety of information about the transfer. That information may include, but is not limited to, the following:

• Your full name
• Your contact information
• The name of the sender
• The contact information of the sender
• Your financial details, including applicable codes such as SWIFT Code and BIC
• The name and physical address of your bank
• Your account and routing numbers
• The amount of money you received

How to Report it to the Government

In the United States, you are required by law to report any international transfers exceeding certain limits. If you are receiving money from overseas, it is your responsibility to report that money to the IRS when applicable. The form necessary to make this claim is form 3520.

Form 3520 should be used when one of the following statements is true:

• You have received gifts or bequests in excess of $100,000 from a nonresident alien or foreign estate
• You have received $15,601 or more from a foreign corporation, partnership, or person(s) associated with those corporations or partnerships

Filing this form is less about taxes and more about information. This form is designed to provide information to the government about the funds entering the country, who they’re from and why they exist. If you fail to report these funds appropriately, you could be subject to penalties and fines as a result.

Why Does the Government Need to Know?

The US government has a host of regulations in place to protect the country, US banks, US consumers and more. To do so, they must obtain detailed information about money coming into the country from foreign accounts. This helps lower the risk of fraudulent or illegal transfers.

Additionally, this practice helps the US government more accurately detect money laundering schemes. The quicker they discover those schemes, the more efficiently they can react and protect the interests of the victims. It also helps deter tax evasion by making it more difficult to hide funds in offshore accounts for later use.

Final Thoughts

There are tons of reasons for receiving transfers from overseas and the vast majority of them or legitimate, legal transfers. However, in order to protect the interests of the government and the country, you should be prepared to report your transfers and the reasons for them. If you do, it will alleviate several headaches that could arise by trying to hide those transfers that might save you a few bucks. When in doubt, report your transfers!

Back in 2016, a report from McKinsey showed that a typical company’s supply chain accounted for 80 per cent of its greenhouse-gas emissions. But not only is the impact on the environment severe, but it can also lead to financial issues for companies who don’t take action to be more sustainable.

A prime example of this is Unilever, who in 2014, stated natural disasters relating to climate change created annual losses of $300m. The severity of this led to then-Unilever CEO, Paul Polman, calling for robust action, not just from his own company but others too.

Fast forward to the present day and supply chain sustainability is no longer a luxury of choice. But with necessity comes the opportunity to reduce costs by operating in a greener way. Today we look at the potential cost-saving benefits of a sustainable supply chain.

Reduced environmental impact

At the heart of sustainability is the environment and how it can be protected. But often there’s a misconception that this comes at a cost. To highlight the benefits of an eco-friendly supply chain, let’s take a look at what French dairy producer Danone has been able to achieve.

In Evian-les-Bains, Danone worked with local authorities and farmers to convert 40,000 tons of organic waste into natural fertiliser while also producing biogas to provide power for 1,200 inhabitants. The organic waste helped to avoid contamination of spring water and ensured that farming continues without disruption or damage to the environment.

The switch from traditional farming to organic practices can see a 20% dip in milk production. But in the long term, the benefit of being able to sell at a higher price is realised, while using fewer resources keeps costs down and profits high.

It all forms part of Danone’s vision to be carbon-neutral across the full supply chain by 2050, something which will benefit the environment, the brand, and the profit margins.

Protecting against reputational damage

With information readily available online, your supply chain also affects your brand reputation, so it’s important to make sure that a lack of sustainability across the supply chain isn’t resulting in negative attention.

Warren Buffet, the American investor, famously once said, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”

In the world of sustainability, Swiss confectionery giant Nestlé felt the wrath of a palm oil scandal that left it unable to claim the use of certified sustainable palm oil in its chocolates and other products.

In an age where consumers are more eco-conscious, it was a business headache that has led the company to publicly map out what it’s doing to ensure palm oil is sourced sustainably in an attempt to repair a damaged reputation that started over a decade ago.

Attracting new business

The world of online retail has experienced a major boom over the course of the last 12 months, and growing demand is shining a spotlight on supply chains.

According to a 2019 report, 85% of consumers are more likely to buy from a company with a reputation for sustainability. With so much worldwide focus on sustainability, green credentials can be the difference between winning new business and seeing it walk away.

Take Amazon for example. Its quarterly sales recently hit $125 billion, but that isn’t stopping it from creating a fleet of 100,000 electric vehicles, as part of its pledge to be carbon net zero by 2040. It’s a sign that even when you’re at the very top, you can’t ignore the need to go green.

A sustainable summary

If your business reviews its supply chain and can make changes, the rewards can follow. For retail and e-commerce businesses, it could be something like using a plastic pallet to reduce the reliance on single-use plastics.  

For those in the food and drink industry, it could be the introduction of rotating crops to improve soil fertility – a step that helped France become the world’s most sustainable food country in 2019.

Taking positive action can lead to big savings and better margins, along with reducing damage to the planet. A sustainable supply chain is no longer a choice, it’s a necessity.

Sources

https://www.mckinsey.com/business-functions/sustainability/our-insights/starting-at-the-source-sustainability-in-supply-chains

https://www.unilever.com/news/press-releases/2014/14-04-08-Unilever-CEO-calls-for-decisive-action-to-tackle-climate-change.html

https://www.forbes.com/sites/mikescott/2019/02/11/companies-look-to-supply-chains-for-sustainability-gains/?sh=127a96d61c55

https://www.forbes.com/sites/mikescott/2019/02/11/companies-look-to-supply-chains-for-sustainability-gains/?sh=127a96d61c55

https://www.nestle.com/ask-nestle/environment/answers/palm-oil-sourcing

https://youmatter.world/en/sustainability-supply-chain-27935/

https://www.businessinsider.com/amazon-creating-fleet-of-electric-delivery-vehicles-rivian-2020-2?r=US&IR=T

https://www.refrigeratedfrozenfood.com/articles/96476-study-shows-france-to-be-the-worlds-most-food-sustainable-country