Seven Qualities of a Win-Win Negotiator

Most business people approach a negotiation hoping for a win-win agreement. But even with the best of intentions, they usually fall into the same win-lose patterns that characterize most negotiations.

What qualities do win-win negotiators possess? How are they able to consistently achieve win-win outcomes? Cultivating these seven qualities will improve your chances of negotiating win-win agreements.

Engage in joint problem solving

Most of us are conditioned to see a negotiation as a chance to win or lose. As such, we do what we can to win as much as we can, and the other side does the same. This competitive mindset leads to win-lose or partial win results.

Win-win negotiators, however, approach a negotiation as an opportunity for joint problem solving. Instead of seeing two parties each trying for their own win, they look at a negotiation as a single problem they must solve together for mutual benefit. They believe two heads are better than one.

Understand your interests and prioritize them so you stay focused on what is important to you. Know what you must have and what you would like to get from the negotiation before you begin. Have a list of other items you are willing to exchange.

Try to anticipate the other party’s interests as well. Explore ways to help him get what he needs at little or no cost to you. Adopt a collaborative mindset. Strive to optimize the overall outcome, rather than trying to maximize your gains on each of a series of items.

Share information

Most people play their cards close to the chest during a negotiation. They refuse to tell the other party anything of substance for fear the other party will use it to their advantage.

Of course, there may be some things you don’t want the other party to know. For example, you may not want to share your alternatives or your “bottom line.” However, it does not hurt to let your counterpart know what your interests are. They will often reciprocate, and you are then in a better position to satisfy both party’s interests.

But what if you share your interests and the other party keeps his to himself? Would that place you at a disadvantage? No, it would not! Recent studies suggest that even when only one party lays his interests on the table, a win-win outcome is still more likely. The mere fact that some interests are disclosed improves the chances that both sides will benefit.

Ask questions

Asking questions is one way to get information. But the benefits of asking questions go beyond mere information. Asking nonthreatening questions allows you to build rapport and put the other party at ease. It allows you to manage the discussion and gives you time to think. Questions also allow you to check your assumptions and confirm your understanding of key points.

Be careful how you ask questions. Do not ask questions with a sarcastic tone or that otherwise sound threatening. Ask questions that seek fair information and show a genuine concern for the other party and the negotiation process.

Listen empathetically

You learn more by listening than by talking, so encourage the other party to speak by listening attentively. Make eye contact. Do not interrupt. Do not form conclusions until your counterpart has finished speaking.

A good listener shows concern and respect for the other party. Try to really understand the other party’s point of view, even if you do not agree. Recognize that his arguments and needs have merit. Likeable and agreeable negotiators accomplish more than self-centered ones.

Explain before disagreeing

Do not be quick to disagree with your counterpart. An immediate rejection suggests you do not really care about the other person and are not open to his ideas.

Consider what he is saying. Look for common ground and try to build on it with your counterproposal. Offer your counterproposal as a suggestion rather than a demand, and be prepared to discuss it.

Persuade

Use data, evidence, and logic to support your proposals. Focus on the most compelling one or two arguments rather than trying to build support with a smattering of less convincing arguments. Quality is more important than quantity here.

Use fair and objective standards to support your proposal. Offer facts and reasons that make intrinsic good sense, such as market prices and historical trends. Do not offer arbitrary arguments such as “that’s all we are willing to pay.” Unsupportable rationales are not persuasive and will make your counterpart more resistant.

Think laterally

A win-win solution is not always obvious. The ability to develop creative options is a key to crafting win-win agreements. Learn to think out of the box.

By modeling these characteristics of win-win negotiators, you too will become a better negotiator.

Copy Trading | What Is It and What Are Its Benefits for forex traders?

Can Copy Trading Be Profitable?
Trades made by other investors in financial markets can be copied by other traders. This is called copy trading. There are different ways to copy the trading of another investor. For example, a trader can make any transaction, simulate trade entries, take profit, and stop loss orders.

Forex trading requires a lot of technical analysis and many beginners and inexperienced traders do not have the necessary knowledge to succeed in this area, so Forex copy trading is a popular option to start operating in this market. In this article, we are going to review the benefits of copy trading for forex traders.

What Is Copy Trading?
Copy trading is an innovative way to trade in the financial markets. The idea of copy trading is very simple. This method involves copying trades initiated by other traders. The most important mission of copy trading is to help new and inexperienced traders to find their professional path in the market. Before we delve into copy trading, you need to know what trading is and understand the parties involved in copy trading:

Provider: The provider is also known as the signal provider. This person is actually a trader whose trading patterns are copied
Copier: Also referred to as a follower, is a trader who is copying other trades
Copy trading is invaluable for beginner traders who don’t have enough time to learn and create custom trading strategies or do extensive research. In this case, one becomes a mere copycat who repeats the trading behavior of experienced traders. In simpler terms, copy trading is discovering successful traders who have a stable trading history.

Meanwhile, many experienced traders also open accounts on copy trading platforms. They try to gain new experiences and maximize their returns in the market by referring to the performance of Master Traders. As an alternative, users may manually copy transactions after receiving trade notifications.

Benefits of Copy Trading
More than 30% of novice traders (with less than a year of experience) find the financial markets complicated. They believe that copy trading helps them to have an effective and profitable trade. Copy trading generated more than $50 billion in profits in 2020, and this figure is expected to reach $80 billion by 2025! In the following, we will explore the benefits of copy trading for forex traders.

Ideal for Beginners
With copy trading, traders have other people to help them do their research. This means you can start trading immediately. Additionally, for traders who have limited time to trade full-time, copy trading is a great option. You can learn how market professionals trade. This is great because you can see how experienced traders trade without spending a minimum amount of time.

Portfolio Diversification
By using copy trading, forex traders can access trends or opportunities that are inaccessible without the help of other traders’ expertise. This option is especially suitable for newcomers who are learning more about the market. Also, copy trading can be used in various markets such as forex, commodities, stocks, indices, and metals.

By copy trading, you get to know different assets. When you copy the trades of a professional person, if he trades stock indices, you will also get to know this market. If they are a commodity market trader, you will also get to know the commodity market.

Better Risk Management
Copy trading provides access to several risk management tools. Copiers can choose from a wide range of copying methods to configure profit and loss levels. Also, you get to know how professionals manage risk. This issue is very important. Do you know how many people in the forex market have become margin calls due to not being aware and not following risk management?

You can easily control your losses with copy trading in forex. When the results are not according to your expectations, you can easily turn your attention to someone else’s trades. As the saying goes, when you don’t get healing from your doctor, change it.

You Can Work as a Full-Time Signal Provider
Copy trading is what makes it possible for you to work as a full-time signaler for yourself. What we mean is, now that you are copying someone else’s trades, you can sell all your trades as signals.

Where Should I Start for Copy Trading?
After you understand what copy trading is, you can start your own business to invest in this area. In this section, you can learn about copy trading step by step. The first step in copy trading is to create an account on a trusted stock and trading platform. Most trading platforms have options to follow other traders. There are different standards for choosing the right trader. For example, you may want to follow a trader who has higher profits or a consistent trading pattern.

The second step is to decide how much you want to invest and how financially prepared you are for the risk. As you know, in any investment method, you should not put all your eggs in one basket. Start with a small percentage of disposable income and remember that investing always comes with the risk of losing some of your money!

The third step is just watching. There are trading platforms that automatically copy-trade your chosen assets with the investors you copy. However, there is a handy way to copy trade by watching the portfolios your peers are buying or selling.

Copy Trading Can Bring You More Money
Now that you are familiar with the concept of copy trading in Forex and its advantages and disadvantages, you understand that this category is an effective and efficient method. Especially if you are a beginner. Never forget to go to a professional trader to get good trading experience.

Aron Groups is an experienced and reliable broker in the forex market. It offers its users the possibility of copy trading. Aron Groups provides its new traders with enough educational content and facilities to learn more about copy trading and make a profit.

Business Presentations – Are You Scared?

Most people don’t like to stand up in front of an audience to give a talk or presentation. Some are even uncomfortable presenting their information in business meetings, especially in front of senior executives. Stage fright is the number one obstacle in giving a presentation. People feel nervous, get “butterflies” in their stomach, and feel like they can’t remember what to say. But take heart, if you have stage fright you are in the majority.

The most important thing you can do is to simply acknowledge that giving a presentation is an uncomfortable task for you. Notice I didn’t say a weakness; it’s simply an area where you need some help in developing the skills that give you the confidence to talk before a group. The uneasiness you feel just before you talk is really just adrenaline, a natural “energy boost”! Any top athlete or performer has this same adrenaline energy rush that helps them to perform their best. The butterflies you feel in the pit of your stomach are “a good thing”.

The first step in improving your presentation skills is to stop thinking of it as a negative task or experience. Master these soft skills and all you’ll have to fear is fear itself:

• Organize the presentation properly – There are three clear-cut parts to any presentation. The introduction, the main body and the conclusion. Make sure you have all three or your presentation will not be cohesive.
• Introduction should tell the purpose – It’s important to let the audience know at the start and during the introduction the reason for the talk. Also make sure you grab their attention in the beginning. Start with a related story, quote an expert or statistic, or ask a question, such as “Did you know that Twitter already has 86% of the internet Social Media market? ”
• Main body – There should only be three to five main points. That’s about as much as the audience can absorb and process. Back up each of the points with stories, pictures, facts or details.
• Conclusion – Make sure the close is effective. Briefly recap the main points and end on a positive note or call to action. Following the conclusion, take questions if appropriate. Always repeat the question before you give your answer.
• Practice – “Practice makes perfect”, so take the time to practice the presentation out loud and in front of a mirror. The more times you practice, the more comfortable and confident you will be with the delivery of the material.
• Physical Considerations – Dress appropriately for the audience you are addressing. Posture is key. Stand with your legs 4-6 inches apart to help with weight distribution and make sure to keep your shoulders back. Watch your hand gestures. Vary the volume, rate and pitch of your voice. Make eye contact with the audience. Never point a finger at the audience; use an open hand, palm up instead.
• Other Things – Be careful with humor. Arrive early to check room set-up and audio visual equipment. Keep Power Point slides simple – use a title and 3 bullet points per slide and go easy with the graphics.

Remember, when you act well, you do well.