Wednesday, May 14, 2008

First Trading Day.


Today was the first day of Tejari trading. First we were have to received a letter from Mr.jaweed to begin the auction and buy the Arabica and Robusta Beans that we need. At 12 we got the letter from him and we started planning for the auction. we Started with a group met to discuss the practical quantities that we need from every kind. My and Fatima started to Account it obesity put we faced difficulty in the subject and we have asked Nawal from the whole seller group to inquire about how to conduct their buying and selling and waited until Sr.Simon to came to our class to ask about how to calculate it. At 2:10 pm he came to the class and he explained to us what we didn't understand and helped us in finding a solution to it. We have begun to enter the auction at approximately 3:00. At the beginning we were not fully confident of the auction process and we did not buy at the first two hours of the auction, where as the other groups have started buying to the purchase and some of them started to sell. The issue of buying talked from us a long time to understand well, but we started to participate without buying.

After the end of the college shamah and I decided to late for additional hours in order to resolve this problem. We've found that prices seemed to grow, so we decided to find a solution for it. We decided to send messages to other groups from other colleges, who participate with and tell them what we need from each each type of those beans. Also, it have been successful idea and we received one replay from Lat-Coffee to buy from them 100kg of Arabica Beans in a lowest price that any one can found in the auction and before that we had 100 kg of Robusta in a exorbitant price . But after that we decided to trick-up and earn sufficient quantities of these kinds in cheapest prices. We leave at 6 pm.

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