While online equities and futures trading have enjoyed
exponential growth and widespread notoriety over the past few years, online
foreign exchange trading is only now gaining popularity among seasoned active
traders, commodity trading advisors (CTAs), and other professional money
managers.
Until recently, large international banks dominated the foreign
exchange (FX or forex for short) market, only allowing access via telephone
trading to a select few such as Fortune 1000 companies, large funds, high–net
worth individuals, and so on.
But now, the tide has turned and finally there
are established online trading firms that provide individual investors with
direct access to the largest, most liquid financial market in the world.
THE TREND IS YOUR FRIEND IN FOREX
Approximately 80% of all currency transactions last a period
of seven days or less, while more than 40% last fewer than two days. Given the
extremely short lifespan of the typical trade, technical indicators heavily
influence entry, exit, and order placement decisions.
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