Sunday, March 31, 2013

Understanding the Basics of Futures Options

New traders who would like to test the waters of the trading world may opt for future options instead of going right away into futures contracts. However, they have to get a clear understanding of the concepts related to it for them to get the most from their investments. A futures option is a right to buy or to sell commodities at an agreed strike price through a futures contract. Traders buy options at present as they bet on the price of future contracts to increase or decrease at a given time in the future. Those who engage in futures option mostly settle the agreements in cash. This may be an advantage to investors who do not have enough capital to pay for the value of the underlying assets such as commodities.

There are specific terms that new traders have to learn before they plunge themselves into the trading business through the futures options.

Calls

Traders may consider buying call options if they think that the price of the underlying commodities will increase. If they expect that the prices of corn futures will rise for example, then they may think of buying corn call options.

Puts

On the other hand, if traders expect the underlying commodities to decrease in price in the future, they may opt to be buying put options instead.

Premium

Traders have to pay some fee or price when they buy either a call option or a put option and this is called the premium. However, the prices may vary depending on whether the bet is more likely to happen or not in the near future. Traders will have to pay higher prices for options that they are most certain will happen at a given time frame.

Contract Months

The contract months refer to the timeframe. Call and put options do not last forever as they are bound to expire. Traders will have to decide to close their position before the date of expiration comes. Those who have longer time to hold their options generally will have to pay more for it as these options are more expensive.

Strike Price

Traders may sell the underlying contract on the commodities before it expires. Traders usually do not decide on converting their options but they just close their positions and reap their profits that they have earned.

Commodities such as gold for example may be expected to increase in a few months time. Traders may then buy a gold call option in order for them to gain profit from it when the prices rise before the expiration date.

Different Kinds of Observatory Domes for Sale

Anyone can thoroughly enjoy their passion for stars and science, even if they do not work in that field. This is because there are now amateur domes for sale. Domes are rooms and structures that enable people to look at and view natural phenomena (not just the stars). Previously only scientific companies, organisations, and government could afford to purchase and maintain observatories. But, now most people can. There are different kinds of domes for sale by different manufacturers. There are a couple of reputable, well-known companies that specialise in producing domes for amateur astronomers and others. A simple search in a search engine will provide a list of these companies.

There are not a lot of differences in the companies that have observatory domes for sale. They will usually, just differ in terms of the materials used to construct the domes and the variable features that come with these structures. Most companies will only sell the actual dome which is the top piece from which the sky can be viewed. There are other companies that sell the entire structure, including the bottom mount for the dome. Obviously, it is more pocket-friendly to purchase only the dome. The reputable companies will provide instructional manuals to explain how to construct the mount for the dome. The mount can be of any height; this will not affect the effectiveness of the dome. Obviously, at the very least the user should be able to sit comfortably in the observatory, if not stand.

Observatories are used to house telescopes and other scientific equipment. For example, some people like to capture images of a particular celestial body, or track their movements over a period of time. The size and diameter of the dome will determine the kind and size of equipment that can be used. Observatory domes for sale are made of several different kinds of materials, depending on the company. For example, there are some kinds of observatory domes that are made up of fibreglass, and some are made of aluminium, or steel, and others are made from polyethylene plastic, or combinations of a couple of these materials. There are different opinions on which is the best, but all of these are durable and strong. Polyethylene plastic may be the better option, because it is even more durable than fibreglass. And, it is better than some of the other materials because it is completely recyclable.

Observatory domes are excellent because they enable anyone with an interest to look at the sky during day or night, as it blocks out light obstruction from nearby lights. It also enables users to use it during any kind of weather conditions as the well-built ones are designed to be weatherproof. This means that when inside, users will not experience any drafts (even in extreme winds), any leaks, when it rains or snows, or any other extreme weather conditions. In fact, these weather conditions are experienced only by people in freezing temperatures and in deserts.

There are some people who choose to build their own observatory domes, instead of purchasing. But, it is very difficult to build and they may not be safe to keep all of the expensive equipments permanently within these domes. There are features that come with manufactured observatory domes, such as motorized rotation, that are not simple to construct. So it is better to purchase from an observatory dome for sale. However, some people cannot afford the cost of these observatory domes. For those who cannot, there are a couple of online forums where people share their methods, building plans and experience building their very own observatory domes from scratch.

Restaurant Training Manual - Welcoming Guests in the Restaurant

The Restaurant Hostess should be well groomed and be present at all times during working hours at the entrance of the restaurant.

She should acknowledge guests arrival with a bright smile on her face and pleasant eye contact, while stepping forward towards the guest. Hostess must greet guests by their names (if available) with a courtesy bow. Children should be acknowledged and greeted individually by name (if available). If guest's name is not known, hostess should confirm name by asking politely "You are Mr. or Mrs....?" Once the name is known, she should say: "Welcome to (name of outlet), Mr./s (name of guest)". Hostess will escort guests to the table, showing the way to guests with open palm hand, while walking side by side or at a slight distance in front, by saying: "This way please, Mr./s (name of guest)".

Hostess must suggest aperitif by saying: "Would you like to sit at the bar for an aperitif first or would you prefer to go straight to your table, Mr./s (name of guest)?" She should follow the guest's response and acknowledge by saying: "With pleasure Mr./s (name of guest), this way please" Hostess should enquire about guest' preferred section of the restaurant, by saying: "Would you prefer a smoking or a non-smoking section of the restaurant, Mr./s (name of guest)?" Hostess must engage in a light conversation tone with the guests while escorting them. It should be natural and conversational way (not overburdening with excessive conversation - conversation could be on guests stay, which activities guests have enjoyed so far, etc.)

Hostess must pull out the chair lightly from the table, and offer them to sit. Disabled persons should be approached first, women and then men. Hostess should assist the guests such that they are comfortable and should push the chair gently forward and ask: "Please Mr./s (name of guest), are you comfortably seated?" For first time guests, in case a child is present, hostess must propose a high chair as appropriate, and ask: "Would you like me to bring a high chair Mr./s (name of guest)?"

Hostess should unfold napkin on the guest's lap, from the right hand side, ladies first then gentlemen, with a smile and eye contact. For subsequent visits to the restaurant, high chair is automatically offered to guests without asking. Hostess must ensure that guests are promptly seated and that the correct number of place settings are in place. Hostess should inform guests that their order will be taken right away by saying: "Waiter would take your order right away, Mr./s (name of guest)".

Hostess should also wish guests a pleasant meal experience and retire with a courtesy bow along with a smile saying: "Please enjoy your (meal) Mr./s (name of guest)". Hostess should advise headwaiter/waiter whether guests have already had an aperitif at the bar, in order for the headwaiter/waiter to propose aperitif to guests as appropriate. Hostess should present herself well to the guests, should be calm, polite and appealing to the guests.

Acupuncture and Back Pain

Research carried out in 2002 indicated that almost 80% of the world's population would suffer from some kind of back pain with lower back pain being the most common type. In addition to the high rate of incidence, back pain is also known to have a high rate of recurrence in patients. With patients trying everything from over the counter painkillers to physiotherapy to gain relief from back pain, Acupuncture comes as a welcome change.

Acupuncture is a natural method of treatment that involves no chemicals or surgery. Thin stainless steel needles are inserted into the body at various acupuncture points to stimulate the free flow of Chi or life force through the body. Free flowing Chi results in a healthy and pain free body. Large bodies of research have been able to establish a connection between acupuncture and relief from back pain-especially sciatica.

Sciatica refers to a type of back pain in which the pain radiates from the buttocks down the legs. Sometimes, sciatica pain can also be a consequence of a muscle spasm impinging on the sciatica nerve. Acupuncture can be effectively used to alleviate muscle spasms. The results are almost immediate and can provide relief within minutes.

Back pain is generally caused because muscles that are not frequently exercised and stretched are suddenly put to excessive use. Muscle spasms are common in such cases and result in the individual feeling sore, stiff and a dull ache in the back. Patients suffering from sciatica may even feel a tingling sensation or numbness. This is generally due to the narrowing of the disc space or a disc protrusion in the lumbar region.

Acupuncture is used to improve blood circulation to the entire lumbar region and spinal cord. It relaxes paraspinal muscles and provides relief from muscle spasms. The increased blood flow provides greater nourishment to the discs and increases the elasticity and strengthens the spinal cord. Thus, acupuncture can be extremely effective in reducing back pain symptoms. It is important to remember that different patients respond differently to acupuncture sessions and it can take anywhere between 4-12 sessions to really feel the difference.

The Plastic Brain - Fake It Until You Make It

About a decade ago, Philip Martinez was involved in a motorcycle accident in which the nerves in his left hand were destroyed, leading to an amputation. However, after the amputation he was haunted by his amputated hand, as if it still existed, but was immovable and in excruciating pain. He eventually found Dr. V.S. Ramachandran, a neuroscientist at University of California at San Diego, who had been researching the phenomenon Martinez was experiencing - "phantom limbs".

To help amputees deal with their phantom pain, Ramachandran created an ingenious solution called a mirror box, designed to trick the brain into thinking that it is working with the phantom limb. It is an uncapped box with two compartments separated by a vertical mirror. As Martinez placed his good arm into one of the two compartments and imagined that his amputated hand was in the other compartment, from a certain angle the mirror box allowed him to see the reflected image of his good hand, as if his amputated limb was there. As he moved his good hand while looking at the reflected image, he was not only able to "see" the amputated limb, but to feel it as well. This seems almost as magical as a fantasy. In Harry Potter and the Sorcerer's Stone, Harry first saw the sorcerer's stone in his pocket through the Mirror of Erised, before he actually found it in his pocket. Similarly, Ramachandran's mirror box allows someone to see what they want to happen before their brain actually makes it happen.

At first, Martinez felt that the phantom limb was unfrozen and moving again only when looking at the reflection; when he closed his eyes, the painful sensation returned. After four weeks of working with the box for ten minutes a day, the seemingly permanent pain was cured. The mirror box had caused the brain to believe that the nonexistent limb had begun working again, relieving the pain and uncomfortable sensation. The brain had rewired itself - the body faked it until the brain made it.

Neuroplasticity is the characteristic of the brain that allows it to adapt, rewire, and change its structure, similar to the ability of plastic to mold and change shape. The plastic brain defies the long standing theory that brains, especially adult brains, are rigid structures.

In the past, neurologists did many studies to identify which part of the brain controls which body function or action, also known as brain mapping. The previously accepted belief was that these brain maps, once established during childhood, could never be changed; a particular area of the adult brain can control only a certain part of the body so that all regions of brain maps were immutable. It would be as if the boundaries of countries had been permanently established since the beginning of time. However, the discoveries of neuroplasticity in the early 1970's led to an entirely new view- brain maps can expand, diminish, and become more specific to certain sensory inputs and motor functions. Ramachandran witnessed changes in brain maps when he scratched the cheek of a patient experiencing phantom pain. The patient not only felt the scratch in his cheek, but in the phantom limb as well. Confirmed through brain imaging, Ramachandran concluded that the limb's brain map had meshed with the cheek's brain map. Like an emperor with an avid desire to gain territory, the cheek's map was encroaching on the limb's map.

Before designing the illusory mirror box, Ramachandran uncovered the brain map of phantom limbs. He observed that many amputated patients had the limb in a sling before amputation, which caused the brain map to adapt to the "frozen" state of the limb. From a healthy limb, the brain receives motor and sensory outputs signaling the completion of an action, however, after a limb is amputated, the brain no longer receives those messages. The brain therefore continues to think that the limb is frozen because it was not signaled otherwise. If a tree fell in a forest but no one was there to hear the sound, did the tree really make a sound? Was the limb really amputated if the brain was not told so? According to the brain map, the limb was still there, but because it was not responding, the brain pushed harder and harder to try and receive an output signal, leading to excruciating "phantom" pain. The knowledge of changing brain maps combined with the identification of the phantom map, led to the cure for phantom pain.

Aside from the mirror box, another "trick" to change the brain is visualization. Visualization has gained popularity as an alternative way to improve any skill when unable to practice, and has now been proven scientifically through neuroplasticity. Scientist Pascual - Leone of Harvard Medical School studied two groups of people, those who physically practiced the piano, and those who simply imagined practicing the piano. The brains of both groups of people were constantly mapped over the same intervals and showed similar changes. The group who simply imagined playing the piano was able to play almost nearly as well as the group with physical practice, and only needed one physical practice session to catch up. The repetitive imagination of an action strengthens the neuronal connections of that action similar to the way in which physical practice does, resulting in physical improvement.

When I used to train for competitive tennis and was learning a new shot, my coach would say "Imagine this shot in perfect detail several times and it will come more easily to you." I did not appreciate the advice he gave me until now. "Fake it until you make it" seems to have the potential to help anyone with anything, whether it is through the mirror box or visualization. Neuroplasticity is introducing magic into the world of science, like a sprinkle of Tinkerbell's pixie dust.


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