Back in 2008 when commercial EA’s were entering the Forex market, some of us believed that if you have a good system, all you need to do is automate it, place it on a chart, “set and forget it” and you can then start planning your dream vacation. Over the years, many of us came to the realization that automated systems do not last forever. As markets are always changing we need to continuously adjust, tweak, or change our strategies to keep them functional.
Very often you hear how big the Forex market is, with a daily trading volume of $5.1 trillion every day. No one can dispute that is a really huge number, but reading between the lines will show you that the volume of trades has dropped. According to the Triennial Central Bank Survey by the Bank for International Settlements, the Forex market had a daily trading volume of $5.4 trillion back in 2013.
When you evaluate the Forex market for the swing trade opportunities, the focus of consideration is to predict the continuations and directional changes for certain given pair of currency, and for this purpose; most of the times people rely on technical analysis. In such an analysis, for instance, the fundamental analysis, there are leading and lagging indicators.
The Forex Market is full of traders whose sole objective is to make plenty of profits. But is it really as easy as it is made out to be? Can beginners really breeze their way to a quick buck? Not at all.
Every business develops a set of procedures or safety nets to ensure that it is protected from suffering a series of huge losses. That safety net is also known as Forex money management. Forex money management manipulates accounts by conserving, investing, splurging, budgeting and controlling money.
You’ve probably heard how forex trading can be very beneficial. However, chances are, each time we hear the phrase forex trading, most of us are just going to ignore it because we think that it is some weird, complicated term that is too confusing for us to understand. For people who are not updated in the field of economics and business, the term can indeed be such an alien.
Most of the Newbies in forex trading is asking; What is pip and spread?
For people who love challenges, forex trading can be one of hundreds activities that attracts their interest. Why so? Forex trading is not just a trading, it requires meticulous observation to the market where you buy and sell the currency, patience to wait for the right moment to make a move, and even a quick thinking to decide what you should do.