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Forex Trading Strategies

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2008-05-17 06:43:13     
Article by Noor Mohamed

Forex market is a place of great happenings. Its turnover is bigger than the turnovers of world's top stock markets combined together. It never closes and provides you great opportunity to track your investments make decisions 24 hours a day. More than 95 percent of the trading on foreign exchange market is based on speculation. It makes it mandatory for all players however, big or small to have strategies to adopt for situations.

Foreign exchange value fluctuates due to various reasons. For example a strong political base would give a steady and every increasing currency while a volatile political set up would have a currency fluctuating badly. A strong economy would have a strong currency and a bad economy would have a weak currency. A stable society and healthy social happenings strengthens the currency and vice versa. Now we know the factors contribute to the fluctuations in the currency. In forex trade we are in a better position to take corrective action and improve the effectiveness of our investment because, here the market is open 24 hours a day.

As a forex market player you are required to develop strategies to counter the happenings on the market. You have to keep the track of the important dates. Credit policies announced by the central banks have a bearing on the market. Increases in the price of crude oils have a say in the market and demand for a particular currency pushes the value for it. You have to keep the track and take speculative decisions based on the knowledge and information you collect.

As a matter of fact there are no fixed strategies or decisions for every happening. Your intuition and inner feelings have a great say in your decisions. One of the best strategies to adopt is to learn about the pattern of changes in the currencies over years. That will help you decide what action to take for a particular happening.

Forex trading opens a great window of opportunity to make money. To succeed here you should be ready to take risk and decisions. With experience you would be able to develop your strategies and take decisions based on it. As a beginner if you could spend some time learning it is going to help you a lot. Learn the trade and make money.

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