How to Trade Forex Bussiness

2008-03-31T02:17:00.000-07:00

Trading foreign exchange is exciting and potentially very profitable, but there are also significant risk factors. It is crucially important that you fully understand the implications of margin trading and the particular pitfalls and opportunities that foreign exchange trading offers. On these pages, we offer you a brief introduction to the Forex markets as well as their participants and some strategies that you can apply. However, if you are ever in doubt about any aspect of a trade, you can always discuss the matter in-depth with one of our dealers. They are available 24 hours a day on the Saxo Bank online trading system, SaxoTrader.

The benchmark of its service is efficient execution, concise analysis and expertise – all achieved whilst maintaining an attractive and competitive cost structure. Today, Saxo Bank offers one of Europe's premier all-round services for trading in derivative products and foreign exchange. We count amongst our employees numerous dealers and analysts, each of whom has many years experience and a wide and varied knowledge of the markets – gained both in our home countries and in international financial centres. When trading foreign exchange, futures and other derivative products, we offer 24-hour service, extensive daily analysis, individual access to our Research & Analysis department for specific queries, and immediate execution of trades through our international network of banks and brokers. All at a price considerably lower than that which most companies and private investors normally have access to.

The combination of our strong emphasis on customer service, our strategy and trading recommendations, our strategic and individual hedging programmes, along with the availability to our clients of the latest news and information builds a strong case for trading an individual account through Saxo Bank.

Terms of trading are agreed individually depending on the volume of your transactions, but are generally much lower in cost when compared to banks and brokers. Your margin deposit can be cash or government securities, bank guarantees etc. Large corporate or institutional clients may be offered trading facilities on the strength of their balance sheet. The minimum deposit accepted for an individual trading account depends on the account type. Trade confirmations and real-time account overview are built into SaxoTrader, while further account information can be produced in accordance with your specific requirements.

9 Tips to Help Customer Purchasing Power

2008-03-23T02:29:00.000-07:00

9 Tips to Help Custom Builders Increase Their Supply Materials Purchasing Power

Custom builders are perceived to be at a disadvantage when it comes to getting the best pricing from their building materials suppliers. After all, giant public builders can cut pricing deals based on the sheer volume of orders they place with vendors. And though custom builders may have certain products they use repeatedly, they often purchase one-off supplies and materials to fit the specialized tastes of their high-end buyers.

Tip N o. 1
Don't nickel and dime vendors for the lowest price
It makes sense that you want to get the best price. But often the value of what you pay for is more than what's listed on a bill of sale; going for the vendor with the dirt cheap quote may cost you in the long run. Will deliveries arrive on time? Will they be delivered where you specify, or will your trades have to hunt them down somewhere on your site? How will the vendor respond to change orders? What warranties are provided? As the price goes down, the quality often dips as well.

Tip No. 2
Nurture a partnering relationship with your suppliers
Custom builders need to seek suppliers who they think would be good partners — where the two sides look out for and help each other to succeed.
The need is heightened by the specialized nature of the product custom builders build. Even on the product selection side, a partner they can trust is invaluable. Say a custom builder's client wants a certain type of antique hardware. "We go the extra mile," says Bavry. "If it's feasible to handle the special millwork, the hardware, we do it. We have a good process. We research it. We identify it. We bring the information to you."

Tip No. 3
Be an attractive customer to your building supplier
Glenn Singer, CEO of Builder Partnerships
A partnership is a two-way street. As a custom builder, you can bring value to the relationship just as the supplier can.
"Make yourself someone that people want to work for, that's easy to do business with," says Glenn Singer, CEO of Builder Partnerships, a builder/manufacturer marketing company in Littleton, Colo., with a goal to promote deeper, more beneficial relationships between builders and manufacturers. He also has a blog on http://eyevisitors.blogspot.com/

Tip No. 4
Don't get stuck in a rut; get competitive bids
You don't select a supplier based solely on who is the lowest bidder, and you want to partner with suppliers you trust. But you keep your suppliers honest by making sure you comparison shop now and then. You may find a lower price, and if all things are equal, you may get your tried-and-true supply partner to match it.
"My carpet person, we've been using him for a number of years," says Young. "He's good. We keep in good touch as far as knowing where the market is going. But he knows that I check about every six to seven months. I'll quote out just to make sure I'm where I should be in the market."

Tip No. 5
Be an educated "consumer"
You are in a better position to negotiate a good price if you do your homework. Know what the going rate is for a particular material; that can be readily known if it's a commodity.
"Builders should be looking at future prices, which are in the Wall Street Journal," says Rutenberg. "They've got future prices for copper, lumber, and there are Web sites to get [other] future prices. When you know that information and you're bidding something, you can at least know what the future market is thinking the price is going to be. The more information you have, even if you're small, the better you are to make your pricing decision."
"You have to do that," says Young. "If a supplier calls you and says [a vendor] is going to go up because petroleum is going up, and if you've been checking the futures market and it's not doing anything, something's not right."

Tip No. 6
Build relationships with manufacturers
Though you may purchase materials from a distributor, there's nothing to say that you can't reach out to the manufacturer directly.
"There's a lot of opportunity lost when the manufacturer doesn't talk directly with the builder," Singer adds. "Maybe the distributor is hosing the builder. That happens. You're a builder and you tell me that it costs $200 for my product, and I'm thinking, 'Well that's unusual, because for everyone else it's $100 installed.'"
Also, it's meaningful for a custom builder to have a relationship with the manufacturers of the more high-end, specialized materials and products they use more regularly.

Tip No. 7
Negotiate special pricing
Almost any price is negotiable if you can back up your request with a good rationale. For instance, smart custom builders can team up to create an informal buyer group.
"I've gotten together with three other builders [and] an architect ... to do a 150-acre development," says Rutenberg. "We have gone to a number of our suppliers and others, and said, 'We have this project; can we get a project quote?' We have gotten a better rate. They can give us the price decrease that is packaged so that it is more comfortable for them. We are still buying just like we did the day before; we are still paying our bills individually. We don't have any additional overhead. We're just trying to pool our purchasing power."

Tip No. 8
Cultivate single-source suppliers
Look for single sourcing: a supplier who can provide the various products needed at the different stages of home production, plus installation.
Many builders are generally reluctant to have just one supplier. They don't want all their eggs in one basket.
"It's important to keep suppliers honest," says Brooks. "Keep somebody in the wings, of course, so that you don't get stuck if something goes wrong."
But the more you can focus on a particular supplier, the better.

Tip No. 9
Standardize products as much as possible
Standardizing products can be tricky for custom builders, where every home is unique. Still, it is quite possible to have a slate of products and materials you use fairly regularly, if not on each and every home you build, that can produce a regular enough purchasing cycle to warrant special pricing.
"Let's say [a custom builder] is building 10 big houses a year," says Singer. "If he's using 10 different roofing products and manufacturers, is he getting the best price at the end of the day, or can he can sit down with CertainTeed roofing and say, 'Look, I want to use your top-of-the-line.' Maybe there's some leverage there."

A partner in value engineering:-
A good supplier may be able to value engineer your plan to make it easier to build and possibly eliminate some materials. Brooks provides an example with roof trusses. "If you come in a with a 12/12 slope, that requires a two-piece truss. In other words, a truss with a hat on it," says Greg Brooks, president and CEO of Building Supply Channel. "If you've got a really sharp supplier, they may have someone on staff who is going to be able to say, 'If you could live with an 11/12 slope instead, we can eliminate the half truss and save a great deal of money that way.'"
A partner in product selection
Good suppliers can give guidance in the product selection process, directing them toward just the right material to suit the custom builder's needs.
"All homes today are a series of choices for the custom builder," says Bryan Rice of Pro-Build Holdings. "It's not just what type of material but the profile, the look, the functionality, the color and the maintenance. Partners like us can actually help work with them and their customers."
For example, Al Bavry of Kimal Lumber Co. says his company does a lot of research on green materials and warns his clients to be wary of products that label themselves as such.
"They better find out what they are and whether it's something they just pulled out of book because somebody said they were green, or if they really did some homework on them," he says. "Some are going to be forgotten about six months from now."
Purchasing myths dispelled
Myth: Custom builders are at a disadvantage in the supply purchase game compared to large tract builders.
Fact: Custom builders are actually in a somewhat enviable position right now. Building suppliers have gotten short shrift from some large builders and are being coerced into discounting their products.
Barry Rutenberg, president of Barry Rutenberg Homes in Gainesville, Fla., tells of a newspaper's letter to the editor from a major builder to its vendors. "It said, 'For any work that you have done but haven't been paid for, we need a five to 15 percent decrease,'" says Rutenberg. "Think about that. That's work that's done, where the P.O. was approved. And they said if you don't do this for us, we'll ban you from bidding for six months."
Some suppliers have been able to adapt in the short term but are no doubt in search of new clients that are less demanding and more willing to partner in doing what's best for both sides. Enter the custom builder.
Myth: The number of middlemen in the supply channel increases the cost to the custom builder versus the giants.
Fact: At least generally speaking, when it comes to the price of lumber, copper and certain other building materials, the price is set by the market. Therefore, the production builder and custom builder are on a more level playing field.
"The reason is primarily that two-thirds of what the typical lumberyard sells is a pure commodity product," says Greg Brooks of the Building Supply Channel. "It's lumber, and it's panel product. They are sold on the open market much like hogs and corn and soybeans."

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2008-03-10T03:06:00.000-07:00

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How to Trade Forex Bussiness

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9 Tips to Help Customer Purchasing Power

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