The Forex Market Developments and Future
Become a Forex Pro Trader
The Forex market has gone through many changes by shifting from Wall Street, New York to the living rooms of traders. The Internet revolutionized the market in many ways by becoming the profession or hobby of traders worldwide who can access the market anytime anywhere.
The Forex market’s structure started to change already in the 1970’s due to many economic changes and events. Let us see what has influenced the Forex market to evolve the way it did.
Major Forex Market Developments which shaped the Today’s Forex Market
One of the most significant events that influenced the Forex structure was the shift from fixed exchange rates to fluctuating rates. The system was liberalized by enabling countries to have floating exchange rates. Also, many countries eliminated their radars of control and lifted restrictions, making the market more flexible as well as national and international transactions.
Investments and savings were also alternated through an increase of fund managers and investment institutions which nowadays tend to expand internationally and offer multiple currency services. This led to a more diversified system with a lot of companies competing in the market.
As we already mentioned, technological advances shook up the market from its core. The Internet enabled free access to information on market analyses which gives access to market opportunities waiting to be seized. If we add the numerous trade liberalization agreements between countries, then we can say that the Forex market today is certainly a place where the whole world can participate. The economies of the many countries also became more interlinked and complex depending heavily on global events.
The Future of the Forex Market
Let us look back for a moment and remember that the Forex market was steady and healthy during the biggest financial crisis in recent history in 2007/2008 and continues to grow each day. This is an indicator that the future holds only the best for this market. This comes as no surprise, given the billion and trillion turnovers on a daily basis in this market. The Forex market has been flourishing for years now, and all the conveniences of electronic trading made it possible to directly get linked to the best quotes in the market not only being restricted to what the particular broker has to offer. The FX Trading future is more certain than the fates of many other industries according to statistics.
Pro Forex traders already know the short-cuts to the best quotes, and use, for example, ECN platforms instead of retail brokers. They already have sustainable knowledge on the market movements and know to assess price values objectively.
If you want to become a Pro Forex Trader you will have to hit the books on economics, the Forex market and price movements, before entering the market as a professional. You can start right here right now, since this site offers you tips, advice, and courses to become a Pro Forex Trader. Forget trading based on intuition, and learn how to make the right calls, how to predict price movements and the different trading strategies which professional traders use. Read the following tips and tricks to brush up your trading skills.
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Lesson 1 – What is the FOREX ?
The trader’s vocabulary and types of orders. Reading candlestick charts & formations
Lesson 2 – Trading Japanese Candlesticks
Learn how to identify and trade the following formations: morning stars, evening stars, engulfing candles, tweezer tops and tweezer bottoms. Learn the rules on how to trade them
Lesson 3 – Equity Management
How to protect your capital and manage your profitable trades
Lesson 4 – Support and Resistance
Finding sensible and realistic levels for stop losses and profit taking
Lesson 5 Trends and Trendlines
Recognising the trend and trading it for profit
Lesson 6 – Consolidation and Fundamental Announcements
Learning to straddle the market and take advantage of big fundamental moves while avoiding Bull & Bear traps
Lesson 7 – Price Swings and Fibonacci Numbers
Learning how to Swing Trade; understanding the importance of Fibonacci levels and how to trade them strategically
Lesson 8 – The Trader’s Work Book
This lesson consolidates lessons 1 – 7 in one and focuses on the rules that a trader must follow to be successful
Lesson 9 – Trading BUY and SELL Zones
Take advantage of the signals indicating the potential end of a trend