How The Currency Market Stacks Up
I was reading an article in e-FOREX magazine. It was talking about a survey that was taken that highlights the activity of the foreign currency market. It said “Did you know that the market in daily Foreign Exchange volume is bigger than those of OTC Interest Rates, Us Treasuries, Us Equities and Europe, Middle East and Africa Equities put together?” WOW that is big.
The Daily traded FX volume has more than doubled between 2001 and 2007 but an increase by some 50% between 2007 and 2010 might once again still be expected. This will be largely due to the growing importance of Foreign Exchange as an asset class.
The article went on to say besides classical FX trading there is a growing importance of emerging market currencies. The most important emerging market currencies are the Hong Kong Dollar, Polish Zloty and South African Rand.
What we gathered from the Article is that the currency market is well and strong. We already know that it is a fun trade. So Learn and trade well.
Can You Learn The Forex Market
We visited Springfield Illinois where Abraham Lincoln lived and had a successful law practice. We were able to take a tour of the house where he lived when he ran for President of the United States. The guide shared with us that the house was small when they first moved in and as he became more successful in his law practice he added on to his house. We then visited a replica of a little town where he lived for 9 years and was a partner in a mercantile business. We found out that he was a successful surveyor as well.
What does this have to do with the currency market? I was thinking how Lincoln learned how to do his many professions, it was by studying asking questions and practicing. That is how we have to learn how to trade, by studying, asking questions and practicing. I talk to many people that want someone else to trade for them because they think they can’t learn how to trade forex. Then there are the people that want to find a system that will do all the trading for them so they just turn it on and the money comes in. A person has to be careful about whom they get to trade their accounts because it seems that most professed money managers just manage to loose all the money. If there is am automated trading system that makes all the money and the investor doesn’t have to do anything then we have not seen nor heard about it.