Archivos de la categoría Forex Trading

Dont Be Surprised If You See A Shooting Star Tonight

In forex, the shooting star pattern shows like in any other chart. The candlestick for your chosen forex currency pair would open, close, and find a low at similar price points. In this case, the shooting star could be interpreted as the closer the price points, the tighter the shooting star, and the more likely that the currency pair you’re speculating on will fall. Common shooting star plants need protection from deer and elk, who dine on the early shoots in spring. Some types of caterpillars and other insect larvae will feed on the plant. Keep old plant debris out of the garden where these pests hide and place a thick mulch of bark around the base of established plants to prevent damage.

Is a comet a falling star?

These comets leave trails of gas and dust behind them. The trailing dust becomes meteors, and as these crash into the thin air of the Earth’s atmosphere the dust burns up. These bright streaks of light across the night sky are known as shooting stars. Meteors are commonly called falling stars or shooting stars.

Thomas played drums on “Touch Me Tonight” but departed shortly afterwards as he was unable to commit to music full-time during this period. In Los Angeles the band made a video for “Touch Me Tonight.” It received extensive airplay on MTV, making their request chart and rose to #67 on the Billboard Hot 100. This was the highest charting single of the band’s career. The song also appeared in the Dolph Lundgren movie I Come in Peace. The band also released the first two albums on one CD called Shooting Star/Hang on for Your Life; it omitted two songs from the albums (“Stranger” and “Sweet Elatia”). This CD became a collectible until the release of the band’s entire catalog on CD.

Surprise Meteor Shower! ‘finlay

It may also occur during a period of overall rising prices, even if a few recent candles were bearish. A shooting star is a bearish candlestick with a long upper shadow, little or no lower shadow, and a small real body near the low of the day. Said differently, a shooting star is a type of candlestick that forms when a security opens, advances significantly, but then closes the day near the open again. No one was taking the time to unplug, watch the colors of a sunset, see a shooting star or feel the wind in their hair.

shooting star

So its face will be only halfway illuminated during the show’s peak. Plus, the moon sets before midnight in the lower 48 U.S. states. That means the second half of the night should offer great viewing — if the weather cooperates. When the leader of a successful band of narcissistic hellions sees learn to trade uk his kid brother gunned down on stage, he vows hard rock revenge. This official MN Scenic Byway is one of the state’s first designated wildflower routes. The Minnesota Departments of Transportation and Natural Resources collaborate to manage wildflowers and native grasses along the route.

How To Spot Resistance With Shooting Star Patterns

Later that year, the band experienced the departure of bassist Ron Verlin, who had become disenchanted with the music industry. Bassist Norm Dahlor was recruited to take over for Ron, and the band, now with Geffen Records, began to record their fifth album, Silent Scream, with producer Ron Nevison. It was released in April 1985 and produced the radio hit “Summer Sun.” The band’s accompanying music video was popular on MTV and other video channels.

Is it good to see a shooting star?

Is it good luck to see a shooting star? Although it’s a superstition, some people believe that seeing a shooting star is the symbol of good luck. Others say that it leaves a magical aura that gives positive energy and strength.

But a show as good as this year’s Geminids only comes once every few years. The Geminids tie with the Perseid meteor shower for producing the most fireballs. Their colors are the most amazing part of these light shows. how to use ichimokus during the Geminids shine a deep, emerald green. A few might even glimmer with a bit of pink, white, yellow or blue. Their colors trace to the minerals in their rocky parent.

Limitations Of The Shooting Star

Van, Norm, and Steve were also the backing band on Ian Hunter’s single “Great Expectations.” The band then toured with Heart, Bryan Adams, and ZZ Top. In 1982 the band began recording their third album, III Wishes wide ranging , at the legendary Caribou Ranch studio near Boulder, Colorado. Without missing a beat, they returned to touring with such acts as REO Speedwagon, John Mellencamp, Jefferson Starship, Kansas, and others.

We provide financial assistance for early-interventional therapy for special needs children from birth to age six to enhance life-changing development during this critical period. Our wish is for brighter futures for all types of trading children and their families. Plants ordered now are being scheduled for our spring plant-shipping period.

Nursery News

While there are at least 200 billion other stars in our galaxy, the sun is the center of Earth’s solar system. Astronomers have discovered there are many other large stars within our galaxy, the Milky Way. Use these resources to teach students about the objects and relationships within our solar system. Driving south may lead you to darker skies, but the glow will dominate the northern horizon, where Leo rises.

  • Meteor showers occur when dust or particles from asteroids or comets enter Earth’s atmosphere at very high speed.
  • Even an iron meteor will usually break up as the atmosphere becomes denser, around 5 to 7 miles up.
  • In the case of this week’s Geminid shower, the space pebbles shooting across the sky come from 3200 Phaethon.
  • American Meteor Society states that you could see 2 to 16 meteors in a very dark site, but none if you’re located in a place that suffers from light pollution.

As a comet orbits the Sun it sheds an icy, dusty debris stream along its orbit. If Earth travels through this stream, we will see a meteor shower. Although the meteors can appear anywhere in the sky, if you trace their paths, the meteors in each shower appear to “rain” into the sky from the same region.

Shooting Star Tickets

A shooting star is really a small piece of rock or dust that hits Earth’s atmosphere from space. It moves so fast that it heats up and glows as it moves through the atmosphere. Shooting stars are actually what astronomers call meteors. Most meteors burn up in the atmosphere before they reach the ground.

shooting star

The understanding candlesticks candle stick pattern is a beneficial technical analysis tool to notice a bearish divergence in the market. The shooting star indicator may be useful for traders gone short on a market looking for an exit, or traders looking for an entry point to go long. Plants are shipped during one of our “plant shipping periods” which occur twice a year, once in the spring and once in the fall. For us in the mid-latitudes, the point that these meteor showers emerge from won’t be very high in the sky. This means you will need a very dark and clear sky over the southern horizon to get the most out of this show.

The best flowers are produced in the third year and thereafter flowering diminishes. Use this wildflower in the native garden, near a water feature, or other moist area. Common shooting star only blooms for a short period in late May to very early June but has an unusual looking flower that is a harbinger of the growing season.

shooting star, in botany, any flowering plant of the genus Dodecatheon , with about 14 species, mostly native to western North America but with one species in Siberia. Several species are cultivated—often in rock gardens—for their attractive flowers. The low-growing shooting stars are perennial herbs with wavy-margined leaves growing in a rosette. The flowers, which are commonly reddish, purple, lilac, pink, or white, grow in a small cluster at the end of a leafless stalk . The five lobes of the corolla are turned backward, and the flowers point downward. However, some important information on shooting star plants is that the seeds require stratification, which you can mimic by putting the seed in the refrigerator for 90 days.

However, once in a while a meteor is large enough than some of it survives and reaches Earth’s surface. Under ideal sky conditions, which means away from city lights in a completely clear, night sky you can expect to see about 5-10 meteors per hour for us here in the mid-latitudes. You can count the amount of possible meteors you see on one hand, but there’s still a chance to see them before the sun comes up this Thursday morning.

How To Think Like A Trader

Working two hours a day is the end result; at the beginning, you need to put in more time than that if you want to be consistently profitable within several months. In a research paper published in 2014 titled “Do Day Traders Rationally Learn About Their Ability? You Trade Crocs know it’s probably one of the most difficult jobs right? So you I hope you’ve taken the time to read up on what it takes to become a day trader. You’ve researched the best hardware and software for trading and found a great trading course to help you get started.

The faster you can get feedback, the more valuable it is. Day trading is very fast-paced, so you can almost get immediate feedback. It’s important though, to have a system in place to capitalize on the data you generate. To do this, it’s important to have a trading journal. This can be a simple excel spreadsheet, where you write down all your trades with details like time, entry, exit, winner/loser, stop loss, etc. Excited and ready to make some serious money, I opened a trading account.

Profit Objectives Are Based On Today’s Market Conditions

Below is a message from David who is one of our pro members. After joining our course, he is optimistic again about reaching his goals and becoming a full-time trader. Instead, focus on your current problems and struggles. Then you can start making baby steps and slowly (but surely!) become a better trader without all the distractions.

profitable trader

Forex trading involves buying and selling currency pairs based on each currency’s relative value to the other currency that makes up the pair. However, it is possible for virtually anyone to become a master trader as long as they are willing to make the necessary effort. Engaging in trading – and being successful at it – puts a huge demand on us, namely the demand that we maintain confidence while profitable trader dealing with the continual uncertainty of trading in the markets. In our ordinary, daily lives, we are taught to avoid risky situations. They are disciplined in their trading and can view the market objectively, regardless of how current market action is affecting their account balance. Someone who is risk averse has the characteristic or trait of preferring avoiding loss over making a gain.

>>> What Is The Best Day Trading Strategy?

However, this book has really helped me see the flaws in my own trading strategy. It is a fantastically clear explained book and one that I believe will help any trader who listens and follows the strategy have more success in their trading endeavors. A consistently can you get rich by trading forex specializes in one or two setups, and he/she focuses on trading those flawlessly. They accept and embrace the most important part of this job—the waiting. Day traders try to make money by using small price movements in assets.

So true… I think trading would be more easy if money were not involved on it. Traders must love to study the process of trading and the analysis of charts. Just when the love for the process overcome the love for money… then you will be in the profitable way. Love of trading should be above all, then one will be able to develop what it takes to be a trader. I think it is also the time investment of the aspiring wannabe trader and lonely time spent to backtest strategies and find great filter rules to make sure that edge is present and execute with confidence.

Create A Detailed Trading Plan

A stock screener is very helpful here and will separate stocks with trend or range depending on your setups for the strategy you chose. With all the courses I paid for and all the books I read, I still felt something was missing. See the average aspiring trader usually falls into the trap in believing that you must find a system that will make you money and apply it to your desired market and repeat. So the new trader will go on the quest to finding the Holy Grail. What usually happens, the trader then finds himself with several approaches and then starts to test each one.

For example “during the downtrend” isn’t precisely defined. You have to define more specifically and test it too and find if there is a chance for that to be generated each day or profitable trader more often. Electronic communication networks, for example, display the best open bid and ask quotes from various market players and can automatically pair and execute orders.

How To Make The Leap From Consistently Profitable Trader To Star Trader

The fact of the matter is every trading strategy or system will have its ups and downs. The sooner you realize this as a trader, the closer you will be to becoming a consistent trader. Markets have different tendencies at different times of the day.

Can you make a living off forex?

If you’re new to trading, you might well wonder if it’s really possible to make a living from currency trading, given that the majority of small traders do not. The short answer? YES! It’s definitely possible to make a consistent income from Forex trading.

Even though I never felt like a creative person, I realized, that I’m much more creative, than I gave myself credit for and that I enjoy creative work. In trading, you need to work very analytically and you must love statistics. Whereas creativity goes hand in hand with uncertainty, you try to minimize uncertainty as much as possible in trading.

>>> Swing Trading And Day Trading

on October 30, 2010, thousands of redditors made the journey. Using the correct entry technique can eliminate up to 1/2 of the trades that never would have been profitable anyway, increasing your win rate and allowing you to increase position sizing. You may sustain a loss of some or all your invested capital, therefore, you should be aware of all the risks associated with trading in general and trading on margin in particular. Traders Paradise is not providing any investment advice nor investing services.

profitable trader

Investopedia runs a stock market simulator, in which the player is given a virtual portfolio and money to spend on the stock market. A penny stock typically refers to a small company’s stock that trades for less than $5 per share and trades via over-the-counter transactions. Once a trader accepts wins and losses as part of the business, emotions will have less of an effect on trading performance.

This is especially noticeable during periods of higher volatility when orders are bigger than the usual amount of shares on the bid or offer. It is possible to become a Trade Marvell using online courses and workshops. In fact, many of the people getting into trading are getting their start this way. Just ensure you choose one that is highly-regarded so you know you are getting into a program that will help you now and in the future.

Everything You Need To Know About Tuition Assistance, By Service

This gave sailors “more control and flexibility in their pursuit of higher education,” according to a NavAdmin issued in May. The Navy has also instituted an automated approval process for TA requests and has begun allowing sailors to use the benefit toward certificates.

Soldiers can also receive college credit based on their military training, Raymer said, although each school decides for itself which credits it will accept. It takes soldiers an average of five years to complete an undergraduate degree and another five to finish a graduate degree, she said. Through a benefit called tuition assistance, or TA, active-duty service members can take classes in pursuit of a college degree on the military’s dime. One of the perks of serving in the military is being able to go to college on the Defense Department’s dime. But the number of service members taking advantage of this education benefit — often hailed as a key military recruitment and retention tool — has been declining in recent years, with all branches seeing drops in fiscal 2017, federal data show. Recently, the Army ended a policy that required soldiers to delay using TA for one year from the time they complete Advanced Individual Training, for enlisted troops, or the initial Basic Officer Leader Course, for officers. This rule-change opened up the benefit to nearly 95,000 additional soldiers, Raymer said.

Military Onesource

Schools must be registered with GoArmyEd and accredited by agencies recognized by the Education Department to be included. Military OneSource services supplement existing service-branch and installation resources. Service members and their families can access the program at or by calling .

How Google figures out which results to show starts long before you even type, use ta and is guided by a commitment to you to provide the best information.

Everything You Need To Know About Tuition Assistance, By Service

A 24-hour call center staffed with master’s-level consultants familiar with the military lifestyle. Department of Defense program that provides resources and support to active-duty, National Guard and Reserve service members and their families anywhere in the world. The program is available 24 hours a day, 7 days a week at no cost to users. On this episode of Ask the Experts, Barrett Bogue of Student Veterans of America offers some helpful resources for you to pick up where TAP left off. “Execute the plan of action, stay committed, and utilize your maximum yearly tuition assistance benefits,” she said. Programs that charge above the $250-per-semester-hour cap could result in out-of-pocket tuition expenses for the service member.

When can you use TA?

To be eligible for TA, an enlisted service member must have enough time remaining in service to complete the course for which he or she has applied. After the completion of a course, an officer using TA must fulfill a service obligation that runs parallel with – not in addition to – any existing service obligation.

Here’s everything you need to know about the rules governing TA, as well as some tips for getting the most out of the benefit. TA covers $250 per semester hour, with a yearly cap, but each service can set its own requirements, and some rules vary. While advertisers can pay to be displayed in clearly marked sections of the page, no one can use ta buy better placement in the search results. Even before you search, Google organizes information about webpages in our Search index. The index is like a library, except it contains more info than in all the world’s libraries put together. Every time you search, there are thousands, sometimes millions, of webpages with helpful information.


Speciality consultants have focused training in their consultation areas. One is Higher Education Preparation, available at no cost on Joint Knowledge Online, Gallisdorfer said. Marines who have been in the service for 18 months and “demonstrate significant extraordinary effort beyond the fulfillment of all assignments and normal expectations” can use TA, at an O-5 level commander’s discretion, under the latest policy released in May. Airmen who log into the Air Force Virtual Education Center can review their education record and find additional information about TA, Community College of the Air Force, the Career Skills Program and more. “With the new TA changes — $4,500 cap and no credit hour limits — TA dollars can go a long way, especially considering that some schools charge less than $50 per semester hour,” said Ernest D’Antonio, director of Navy Voluntary Education.

  • The Navy has also instituted an automated approval process for TA requests and has begun allowing sailors to use the benefit toward certificates.
  • Schools must be registered with GoArmyEd and accredited by agencies recognized by the Education Department to be included.
  • And when taken at approved testing sites, these exams are offered at no cost.
  • Even before you search, Google organizes information about webpages in our Search index.

The Army also recently waived a rule that required troops who used TA to earn a bachelor’s degree to wait 10 years before using the benefit toward a master’s. Service members must complete advanced-level military training for that rule to be waived. Coast Guard members should also take advantage of credit-by-exam options, tests that measure college-level readiness and allow service members to earn college credit. These tests “reduce the amount of time it takes to complete your degree, and, most important, reduce the overall costs associated with completing your degree,” Novak said.

Instantly Matching Your Search

And when taken at approved testing sites, these exams are offered at no cost. This account will give them access to an interactive tool with information about the careers they can pursue, the income they can expect from those careers, the degrees that support those careers and the colleges that offer those degrees, she said.

As a first step, soldiers should establish a GoArmyEd account – even if they aren’t quite ready to start school – according to Pamela Raymer, chief of the Army Continuing Education System under Human Resources Command. Sign up for the Education & Transition Newsletter to receive helpful information on education, employment and entrepreneurship. Military OneSource is administered as a commercial employee assistance program by ValueOptions under contract to the Department of Defense. Specialized consultations by phone in the areas of special-needs family members, personal finances, and education.


“Higher education is expensive, so understanding the financial management principles provided in this course is critical,” he said. They should also meet with education staff at their respective installations. Airmen considering TA should consult with their base-level education counselor to identify career interests and come up with a plan of action, said Capt. Carrie Volpe, a spokeswoman use ta for the Secretary of the Air Force. D’Antonio told Military Times that sailors should contact the Navy College Virtual Education Center or OCONUS Navy College Office to discuss their education goals before applying to college. In June, the Navy rescinded its previous cap of 16 semester hours of TA per year, while bumping up the annual dollar limit from $4,000 to $4,500.

How much does national guard make monthly?

How Much Do National Guard Jobs Pay per Month?Annual SalaryMonthly PayTop Earners$97,500$8,12575th Percentile$56,500$4,708Average$48,477$4,03925th Percentile$25,000$2,083


Broker Dealer Meaning & Definition

SIPC is a quasi-governmental agency which provides each investor coverage up to $500,000 for loss of securities, which could include $100,000 for cash claims. This coverage does not extend to investor loss incurred from the loss in value of the securities that have been purchased, but from loss of cash or securities caused by the financial difficulties of the broker-dealer.

Securities brokers work in offices or cubicles that are clean and well lighted. Fluctuations in market activity may produce an atmosphere of tension within the brokerage. Broker-Dealermeans any broker-dealer or broker-dealers, or other entity permitted by law to perform the functions required of a Broker-Dealer by the Auction Procedures, that has been selected by the Corporation and has entered into a Broker-Dealer Agreement that remains effective. Broker-Dealermeans any broker-dealer, or other entity permitted by law to perform the functions required of a Broker-Dealer in paragraph 10 of these Articles Supplementary, securities broker definition that has been selected by the Corporation and has entered into a Broker-Dealer Agreement with the Auction Agent that remains effective. The ultimatum prompted a Florida mortgage broker last month to sue UWM and Ishbia in federal court, for a potential class-action lawsuit, accusing them of antitrust violations. The group advises to avoid double dipping except on those rare instances when one agent functions as an impartial facilitator and charges a significantly lower commission. Her father, Burton Read, was a stockbroker and financial reporter who lost most of his money in the Great Depression.

Understanding What A Broker

In return for buying bonds, buyers receive a prescribed rate of interest and sometimes a yearly or monthly cash payment. An insurance broker differs from an insurance agent in that a broker is usually considered an agent of the insured, even though he or she may receive a commission from an insurance company. A broker may sell the products of a number of insurers, and an insurer has no liability for a broker’s wrongful actions. A securities broker often acts also as a dealer and so is often referred to as a broker-dealer. A trader is an individual who buys and sells securities for their own account.

Or financial advisors are also working as registered representatives of broker-dealers. This streamlines their processes, but makes it harder for customers to know when their advisor is acting as a fiduciary or a broker . You advisor recommends you buy a stock, but is he doing this forex trader pdf as your advisor who works in your best interest or as your broker? As you shop for a brokerage, take note of the financial strength of your broker and the extent of its SIPC coverage. This is the insurance that compensates investors if their stock brokerage firm goes bankrupt.

Why Use A Broker?

Execute trades on the financial markets at the expense of the customer and on his behalf. Using margin can end in a financial disaster, no matter how confident you are in a trade. You can ultimately lose much more money than you initially invest, whereas, with a cash account, you can only lose the money you deposit into the account.

securities broker definition

These firms can buy and sell securities on behalf of clients, as well as purchase them to hold in their accounts and later sell. The registration statement relating to salesmen, to be known as the “salesman’s statement,” shall contain such information pertaining to the business history for the last preceding five years, criminal record and educational background of the applicant deemed pertinent by the attorney-general. Issuers generally are not “brokers” because they sell securities for their own accounts and not for the accounts of others. Moreover, issuers generally are not “dealers” because they do not buy and sell their securities for their own accounts as part of a regular business. Issuers whose activities go beyond selling their own securities, however, need to consider whether they would need to register as broker-dealers. This includes issuers that purchase their securities from investors, as well as issuers that effectively operate markets in their own securities or in securities whose features or terms can change or be altered.

B Who Is A “dealer”

Nor does a taxpayer who purchases securities, but does not sell more than a negligible portion of the securities. He explains what services he offers and, when a client opens an account, offers advice on the purchase of particular securities. He will, with his clients’ permission, purchase or sell securities on the clients’ behalf.

What is the difference between jobbers and brokers?

Jobber is a dealer who deals in buying and selling of securities. Broker is an agent who deals in buying and selling of securities on behalf of his client. A jobber carries out trading activities only with the broker. A broker carries out trading activities with the jobber on behalf of his investors.

Flippers, on the other hand, buy houses for themselves and then sell them for a higher price. Flippers can make the housing market more liquid by making themselves available to buy when someone is looking to sell, and having houses available to sell when someone is looking to buy.

Securities And Commodities Broker

Many different professionals can fall under the umbrella of financial advisors. Brokers, certified financial planners , and investment advisors are just a few examples of professionals who might call themselves financial advisors. Because the term is so broad, someone could call themselves a financial advisor and offer financial advice without any special education or certification. cme holidays Finally, dealers have to receive a license from the Financial Industry Regulatory Authority based on the type of securities they plan to sell. Most dealers receive a Series 7 license, which allows them to be a General Securities Representative and to sell a wide variety of securities products such as stocks, bonds, mutual funds, and exchange-traded funds .

securities broker definition

When the answers to these questions is yes, the taxpayer could be considered to be a dealer. Whereas, taxpayers who buy and sell securities as individuals and do not trade directly with customers are often considered to be investors or traders. any person engaged in the business of buying and selling securities for his own account, through a broker or otherwise. The SEC Exchange Act defines a dealer as someone who is engaged in the business of buying and selling securities for his own account §3, 15 U.S.C. 78c and that would require their registration as a dealer under §15, 15 U.S.C. 78o. A Dealer or Market Maker is someone who acquires securities from sources not usually available to the general public and then sells them at a markup to his customers. Dealers who are acting as brokers must be registered with the Securities and Exchange Commission . To qualify as a dealer in securities, a taxpayer must engage in transactions with customers.

I Privacy Of Consumer Financial Information (regulation S

They also must keep records for required periods and furnish copies of those records to the SEC on request. Broker-dealers also must file with the SEC periodic reports, including quarterly and annual financial statements. The annual statements generally must be certified by an independent public accountant. In addition, broker-dealers must notify the SEC and the appropriate SRO12 regarding net capital, recordkeeping, and other operational problems, and in some define business broker cases file reports regarding those problems, within certain time periods. Regulation AC requires brokers, dealers, and persons associated with brokers or dealers that publish, distribute, or circulate research reports to include in those reports a certification that the views expressed in the report accurately reflect the analyst’s personal views. The report must also disclose whether the analyst received compensation for the views expressed in the report.

He is a CFA charterholder as well as holding FINRA Series 7 & 63 licenses. He currently researches and teaches at the Hebrew University in Jerusalem. forexct reviews Although established brokers usually work forty hours per week, beginners who are trying to get customers may work much longer hours.

In others sectors, however, there are no requirements.In fact, virtually every citizen in the advanced economies can afford to invest in the stock market today. The information in this site does not contain investment advice or an investment recommendation, or an offer of or solicitation for transaction in any financial instrument. cmegroup holidays IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. There are four main types of broker – a stock broker, forex broker, full-service broker and discount broker. While they all act as a facilitator between you and another party, they operate differently from each other.

  • Tomorrow, the dealer turns around and sells them to someone else with a spread, meaning they add a little extra onto the asking price to make sure they’re able to make a profit.
  • Every set of fingerprints taken pursuant to this subdivision shall be promptly submitted to the federal bureau of investigation for the purpose of a nationwide criminal history check.
  • Just like a broker does, a financial advisor can help to purchase investments on your behalf and manage your investment portfolio, but their role can also be far more substantial than that.
  • As such, subsidiaries and affiliates of banks that engage in broker-dealer activities are required to register as broker-dealers under the Act.

Such alternative method, when complied with, shall be deemed to fulfill the filing requirements of subdivisions two, eight and nine of this section, and shall be in lieu thereof. For purposes of the mark-to-market rules, a dealer in securities is a taxpayer who in the ordinary course of the taxpayer’s trade or business regularly holds itself out as being willing and able to purchase securities from or sell securities to customers. A taxpayer who sells nonfinancial goods or provides nonfinancial services, such as a consumer products retailer or an accountant, does not become a dealer in securities by the act of extending credit for the purchase of goods or services.