Monthly Archives: June 2019

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Beat that bad boss!

Bad bosses are ruining lives. But you can manage the situation so yours doesn’t crush you.

Last year the Harvard Business Review published examples of bad boss behaviour, including remarks such as “If I wanted to know what you thought, I’d ask you”. Another boss noticed a staff member throw a paperclip in the bin and, in front of his 12 subordinates, admonished him for being wasteful. He also made him retrieve it.

Psychologist and workplace trainer Michelle McQuaid says the effects of a bad boss on the employee can be serious. Anxiety and depression, susceptibility to colds and flu, lack of confidence and poor job performance are just some of the side-effects of a bad boss.

We’re also prone to retaliation if we have a bad boss, including being rude, stealing time from the job and backstabbing.

Plus, research by Bayer University in the US shows people dealing with a difficult boss are more likely to have relationship stress at home.

“As a boss, is that the legacy you want to leave your employees?” McQuaid asks.

But despite the strain a bad boss causes, we don’t rush to resign. McQuaid says 22 months is the average time it takes a person to leave a job where their boss is behaving badly. “They think, ‘Oh they’re the boss’ or ‘I don’t know if I can find another job’ and they kind of stick at it thinking it will get better.”

It can be hard to change the behaviour of a bad boss, especially if they don’t want to change, McQuaid says. But we can all learn techniques to understand and manage our boss’s mood triggers and stay resilient.

Here are McQuaid’s tips for managing a bad boss.

1. Reduce the stress it’s causing you.

“The stress is your enemy more than the boss,” McQuaid says.

“When you’re under stress, you see less of the world, your peripheral vision narrows, you only see the thing right in front of you, which is often your boss.”

McQuaid suggests building positive “jolts of joy” into the day to break the cycle: go for a walk, listen to your favourite song or watch a funny clip on YouTube to decompress.

2. Figure out what your strengths are.

Does your boss enjoy telling you you’re useless? Then spend 10 minutes a day working on your strengths. This will make you more productive and feel better about life. It builds your confidence and gets your mind off your boss.

3. Be nice to your boss and others.

When you do something kind or appreciative for another person, the natural tendency is to return the favour. “If you can, do this towards the boss: offer to get them a coffee, or lunch while you are out. If not the boss, then maybe other colleagues,” says McQuaid.

4. Figure out what triggers their worst behaviour.

If you understand what triggers your boss’s bad behaviour you can pre-empt and even try to diffuse the situation. Or at least you’ll know when a rant is coming and you won’t be caught off-guard.

5. Have a conversation.

“Think about what a win-win situation will look like. We’re often good at articulating what we’d like them to do differently but not good at saying what we would like to see more of – and how you and the boss can work to make that happen. A win-win makes the boss feel safer and helps them see why it’s in their interests to change.”

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Still working at midnight? 1am? 3am?

Do you work in the middle of the night? Then chances are, you’re running your own business. Photo: iStockLike all businesses trying to understand its clients better, Bigcommerce, an e-commerce platform for retail start-ups, was recently analysing the time-of-day work patterns of about 1,800 of its Australian customers.

Some things were not surprising, for example that peak activity was around midday when more than 80 per cent of online retailers were working on their stores.

But one thing stuck out a mile – almost half of the retailers were working at midnight. At 1am more than a third of the retailers were stuck in and at 3am nearly 20 per cent were still at it.

To understand what’s behind those statistics you need to speak with people like James Hopkins and Rebecca Guest. They don’t know each other but they have one important thing in common – they are both living the dream of running their own booming e-commerce businesses. But they are doing it the hard way by piggybacking on day jobs.

Hopkins is founder of iCoverLover, which sells fashion-forward accessories for smart phones. He’s also a middle manager for a broadcast media company, a full-on job that leaves him only evenings and weekends to work on the retail business.

His site, icoverlover苏州美甲学校.au, first launched in December 2010. Hopkins’ business exceeded expectations so much that his partner and co-director, Lana, quit her own day job as a marketing executive in September 2012 to work on iCoverLover full-time.

It was a huge step for Lana to take the plunge and go full-time but so far the decision has been vindicated. The business has been thriving not just because of demand for the product but also because of perks they offer, like same-day delivery in the Sydney metro area.

“A lot of our customers want instant gratification,” says James. “We have the orders couriered to them at the home or office.” This kind of service is not available from most retailers.

James himself usually works on the site from about eight in the evening until midnight but he admits that sometimes he can’t drag himself away until the wee hours of the morning. He estimates that both he and Lana put in 80-hour work-weeks – she exclusively on the e-commerce business and he on the business and his full-time job.

Rebecca Guest is another Sydney resident who burns the candle at both ends. She went on maternity leave in 2012 and then traded in her full-time marketing job for a part-time one that keeps her busy for three days a week. Between job and infant she’s flat chat and you wouldn’t think there’d be much time left to run an e-commerce business. Yet that’s exactly what she does.

Unable to work at it for more than an hour here and an hour there at odd times of day, it took her about eight months of business development to get to the point where she was able to launch her site, Mint Green, which offers a curated selection of home products.

“If I had been able to work on it full-time I could have had the site up and running lightning-fast,” Guest says.

It’s early days yet for Mint Green. Volumes are growing but overheads are significant. Guest has to maintain a full inventory in a storage facility since most wholesalers will not drop-ship. That’s a significant financial commitment for a retail business that is being exclusively self-financed.

Guest’s other challenge is that she knows the home furnishings business is a crowded space, particularly with international brands like Williams-Sonoma now muscling in on the Australian market. She needs to differentiate Mint Green from the rest of the pack. Her answer is to be a curator, or editor, of merchandise that represents her own personal point of view rather than a plain vanilla homewares store. She is also hoping that as a savvy user of social media she will be able to build bridges to her customers that the bigger players cannot.

Money is not the sole motivation for night owls like Rebecca Guest and James Hopkins. They will both be quick to tell you that working on their own e-commerce businesses on top of day jobs and domestic responsibilities is also about doing something you love and taking some control of your own professional destiny.

These toilers of the night are not to be pitied – they’re really loving every minute of it.

Michael Baker is principal of Baker Consulting and can be reached at [email protected]苏州美甲学校 and www.mbaker-retail苏州美甲学校.

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Dramatic rise moves IAG upwards

Insured against loss?As interested investors will appreciate, the financial sector has been strong in recent times, but most of the commentary has focused on the banks, the big four in particular.

Another component of the financials index, insurance, has also been doing well. Suncorp is up 50 per cent in a year. QBE has had similar rises since its price collapsed late last year.

Insurance Australia Group (IAG) has done even better, with its price up about 90 per cent in a year. The chart, produced by Paul Ash, Victorian president of the Australian Technical Analysts Association, compares IAG’s progress with that of the Financials (Insurance) Index. The index is in an uptrend, but its progress has not been as steady as IAG’s, mainly due to QBE’s gyrations last year.

Ash observes that IAG has been in a strong uptrend since June 2012. But since March it moved into a trading channel between $6 and $5.50, with the lower support line holding during that period. IAG has reached an important moment, with the horizontal support line reaching the upward trend line.

That means the price needs to turn up again for the upward trend pattern to remain in force. Ash says that given the support line has held up recently, and there is good support for the stock and significant momentum in the sector, IAG should move back towards $6 in the near future. For it to kick above that level, the broader market would need to take a strong step up, he says.

On the fundamental side, IAG has a price-earnings ratio of 13.7 times compared with the sector average of 14.6 times. Its dividend yield is 4.5 per cent, just shy of the industry average, but both dividends and earnings per share are tipped to grow strongly in the next two years. Earnings growth is an impressive 24 per cent.

Its underlying performance in the December half was driven by a 7.7 per cent rise in gross written premiums and an increase in the insurance margin to 23.1 per cent.

This column is not investment advice. [email protected]苏州美甲学校

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Joining Ichimoku with an Advanced Candlestick to Stay With the Trend

Joining Ichimoku with an Advanced Candlestick to Stay With the Trend Joining Ichimoku with an Advanced Candlestick to Stay With the Trend

Joining Ichimoku with an Advanced Candlestick to Stay With the Trend

Joining Ichimoku with an Advanced Candlestick to Stay With the Trend

Ichimoku helps traders see a worthy set-up in one glance but once in the trade, Heikin-Ashi candles can help you see when it’s smart to stay in. Article Summary: Staying in a good trade is one of the hardest aspects of trading well. Heikin-Ashi is a modified candlestick that rearranges how price is displayed so traders can see when it is prudent to stay in a well-entered trend. This article will teach you about Heikin-Ashi so you can decide if you’d like to add it to your Ichimoku repertoire. In trading as in life, when you change the way you look at things, the things you look at change. Many traders utilize candlestick analysis to pinpoint reversals or continuation patterns in real-time. While this is helpful for deciding when to enter a trade once you’re in, a new candlestick view can be of major assistance to you. The new candlestick (not really new in general but likely new to you), is called the Heikin-Ashi or “average pace of price” candles when translated from Japanese and is available as a default indicator on FXCM’s charting package. Heikin-Ashi is simply an offshoot of what you’re likely accustomed to when reading candlesticks with their true display of the Open-High-Low-Close price. What’s altered is the open and close so you can get a better feel for the trend’s likeliness to continue. Learn Forex: Regular Candlestick Presented by FXCM’s Marketscope Charts Learn Forex: Heikin-Ashi Candlestick Applied Presented by FXCM’s Marketscope Charts Heikin-Ashi’s Smoothing Ability & CalculationAs you can see from the second chart, directional moves are smoothed out in a way absent from the first chart. What makes Heikin-Ashi an effective tool is that it doesn’t adjust price but only the way price is displayed in terms of the open and the close. Specifically, the open of an Heikin-Ashi candle is the average price of the previous bar , and the close of the Heikin-Ashi candle is the average price of the current bar while the high and low are unchanged. Here is the Heikin-Ashi CalculationOpen = (open of previous bar + close of previous bar) / 2Close = (open+ high+ low+ close)/ 4High = maximum of high, open, or close (whichever is highest)Low = minimum of low, open, or close (whichever is lowest) How Heikin-Ashi Helps TradersThe important point about this display of price action is that if the price of the current candle is above the average price of the previous candle (current candle’s open with Heikin-Ashi) then you’re in an uptrend. By representing the average pace of price, you can easily see with Heikin-Ashi when you should be in a trade that is trending and when it’s best to be on the side-lines. If Heikin-Ashi helps you stay in big moves longer that are in your favor, then this addition to your trading may be one worth using. The main thing traders want to look for is a shaved or wickless candle opposite the trend. In other words, if the trend is up and price is above the Ichimoku cloud, then Heikin-Ashi candles with no lower wicks show you a very strong trend to the upside. When there is no counter-trend wick, then there is no reason to exit the trade at this time unless your profit target is hit and you’re happy to exit. Learn Forex: Side by Side Comparison of Ichimoku with Heikin-Ashi Applied & Left Off of USDCHF Presented by FXCM’s Marketscope Charts Heikin-Ashi Combined With IchimokuHeikin-Ashi is best applied after a clear entry is identified with Ichimoku. Contrary to typical candlesticks, a large body with Heikin-Ashi and one wick displayed in the direction of the trend signifies the strength of trend. However, wicks on both sides of the candle show a choppy trend and gives off hints that the trend is weakening because price is breaking the average price of the prior candle. In closing, it’s important to note that Ichimoku is also used to filter out the noise in that the cloud gives us our starting point for building a bias with the trend. Adding Heikin-Ashi filters the noise out even further from candle to candle so that you’re focusing on the average pace of price as opposed to potentially worrying about each candle. If you decide to use them together, Heikin-Ashi candles can help you stay in the trend longer after Ichimoku has helped you identify specific entry points. Ichimoku Weekly Trade: Buy AUDCAD on A Clear Break of the Lagging Line through the Cloud Presented by FXCM’s Marketscope ChartsIchimoku Trade: Buy AUDCAD If Lagging Line Breaks Through As Price Remains Above the CloudStop: 0.9950 (Support at the Base Line)Limit: 1.0200 (Near Weekly R2 on Classic Pivot)If this is your first reading of the Ichimoku report, here is a recap of the rules for a buy trade:-Price is above the Kumo Cloud-The trigger line (black line on my chart) is above the base line (baby blue line) or has crossed above-Lagging line is above price action from 26 periods ago (above the cloud is the additional filter)-Kumo ahead of price is bullish and rising (displayed as a blue cloud). This is currently not fulfilled.This trade was picked because of the recent breakthrough of the cloud by AUDCAD. Trading trends is like planting a tree in that the best time to plant a tree is yesterday and the best time to enter a trend trade is as soon as it’s identified. Please note however that this is a heavy news week for both pairs so keep an eye on the DailyFX economic calendar if you prefer to incorporate fundamentals with your trading.Happy Trading! —Written by Tyler Yell, Trading Instructor To contact Tyler, email [email protected]苏州美甲学校 . To be added to Tyler’s e-mail distribution l ist, please click her e . Would you like dozens of trade ideas every day with updated charts to identify major levels support and resistance on the currency pair you’re trading? If you’d like to learn more about our Technical Analyzer on DailyFX Plus, click here .

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Stevens’ reserve on rates misplaced

Tim ColebatchG

lenn Stevens has never had less to say. His statement on Tuesday to explain why the Reserve left interest rates on hold was just 383 words. It said nothing about the biggest influence on our economy, China, or the industry that has dominated the economy’s growth since 2010, mining.

And, in part, that’s because the Reserve, too, is more than usually unsure what lies ahead. It wants to keep its options open.

Last month, it opted to try to make a difference. It cut its cash rate from 3 per cent to 2.75 per cent, taking the markets by surprise. Within three weeks, the Australian dollar tumbled more than 5 per cent to sink below parity with the $US – and, so far, to stay there.

There were other factors in that. The US economy is looking healthier, and Fed governors have hinted that its stimulus might be scaled back, or even reversed. Australia’s export prices continued falling. But the Reserve’s move played a part.

Time will tell whether Stevens and his board on Tuesday missed an opportunity to reinforce that trend and to deliver a second rate cut that would help the dollar fall sooner and faster.

Since 2010, mining investment has provided roughly half the growth in Australia’s economy. The rest of the economy has grown more slowly than our population. But that phase is over. Mining investment is either about to peak, or is already past its peak. Last week’s capital expenditure data suggests the latter.

The key issue for policymakers is how to lift quickly the growth of non-mining investment and net exports that we will rely on to take over the baton of growth as mining investment declines.

That is not possible while the dollar remains so overvalued. When it was above parity, the International Monetary Fund estimated that the cost of producing goods and services here was the third highest in the advanced world. And while part of that is due to our higher inflation rates, most of it is the byproduct of an overvalued dollar.

The gap between yields in Australia and yields overseas is clearly a factor in that overvaluation. Unless you think that a rate cut now would result in the economy overheating within a year or two, and inflation getting out of the Reserve’s control, why not trim that gap a bit more, and bring the dollar down closer to where you think it should be?

Stevens’ statement gives few clues as to why the Reserve chose the course it did. Much of his statement would read equally well had it decided to cut rates again.

It notes that growth in Australia remains ”a bit below trend”, and forecasts ”a similar performance in the near term”. Stevens concedes that ”unemployment has edged higher in the past year”. The Reserve last month forecast growth of just 2 to 3 per cent in the year ahead, with unemployment ”drifting higher”. Clearly, that is still its view.

Unlike some commentators, the Reserve has noticed the stunning fall in wages growth reported in recent data. The Bureau of Statistics estimates that the economy’s wage bill rose just 2.9 per cent in the year to March, down from 7.4 per cent a year earlier. Wages and profits combined have grown just 2.3 per cent in a year. Don’t be surprised if Wednesday’s GDP figures come out lower than the markets have forecast.

Stevens and his board are still not happy with the dollar. While the trade-weighted index has fallen 8 per cent since peaking on April 12, Stevens implies it’s not enough, adding: ”As the board has noted for some time, it remains high, considering the decline in export prices … over the past year and a half.”

Moreover, they see no problem with inflation. Nor should they. Take out the impact of the carbon tax and in the year to March, underlying inflation would have been 1.8 to 1.9 per cent, below the Reserve’s target of 2 to 3 per cent.

The bank retains its bias towards easing: Stevens’ closing comment is a hint that the next rate move is more likely to be down than up. OK, the Reserve thinks the economy is underperforming, the dollar overvalued, and inflation below target. So why not cut interest rates again?

The only explanation given is that Stevens sketches an optimistic scenario ahead. While global growth is now ”running a bit below average”, he says, there are ”reasonable prospects of a pick-up next year”. Similarly, he puts a lot of faith in the so-called ”green shoots” of growth in demand for new houses, home lending and, arguably, retailing.

The rate cuts to date have ”supported interest-sensitive areas of spending”, he says, have changed the behaviour of savers and investors, and have generated ”some signs of increased demand for finance by households”. His conclusion is the key sentence: ”Further effects can be expected over time.” Well, maybe. But will they be enough to offset the impact on the economy as mining investment turns negative?

Tim Colebatch is the Age economics editor.

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