Take Cover, Here Come The Robots
October 9, 2009 by admin
Filed under Featured, Forex Information
If you ever hear someone telling you that they have made a tidy profit in stock trading with the help of a robot, you may well be tempted to smile sympathetically at them, say “Really? That’s nice!” and move on to other business. However, it might be worth asking some more questions, because there are a number of people doing exactly what your friend has told you about. Bear in mind that this is the Internet, and Internet activity is always heavy with metaphors, so in reality your friend probably hasn’t been taking stock tips from C3PO. What they have been doing, in all likelihood, is using a stock market simulator to get tips on how to trade based on market patterns.
Do these simulators, or “Forex Robots” actually work? Honestly, it is difficult to give a full answer to this, but the shortest, simplest answer is “Yes, sometimes”, or perhaps more accurately “it depends which one you use”. At the start of the vogue for using these predictor programs, there were only a few and they were, generally, quite accurate in their predictions. As time has gone on, there has been a recognition of the lucrative nature of marketing a Forex Robot and as a result some people are, quite cynically, marketing ones which have no more predictive capability than you, your best friend or even your pets. These generaly come with a well-hidden but quite sweeping disclaimer at the point of offer, so look out for them.
Some Forex robots do have a good track record with predictions. However, to get one that works based on anything more than a fairly shallow analysis of limited information, you will need to pay for it. There is a lot of data involved in Forex trading and a shallow analysis could point you in any one of a number of directions, all but one of which would be incorrect. If you are to use a robotic prediction program, bear in mind who is giving you the information and what credentials they have to pass it on. Chances are, in many cases, that the only person who will make money from what they are selling is the salesman himself.
Forex Trading Hours, and When TO Trade
October 9, 2009 by admin
Filed under Featured, Forex Tips
One of the most notable things about the Forex market is the fact that it is always open, no matter the time of day. This means that if you have a rock-solid tip for a successful trade and you cannot wait to put your trade in place, then you do not have to concern yourself with making sure that the market will be open when you want it to be. certain trading centers may not be open at certain times, but because Forex is global and the trading sessions will always be open somewhere you will usually be able to find a way to put things in motion.
The three most prominent trading centers are in New York, Japan and London – corresponding to the three most prominent stock exchanges in the world, Dow Jones, Nikkei and the Financial Times Stock Exchange (often known as “FTSE” or “Footsie”, because of how it would be pronounced if read phonetically.). The most active trading hours come when one or more of these markets is open, as they are easily the most active exchanges. Going by the Eastern Standard Time 24 hour clock, New York is open from 7am to 4pm, London from 3am to 11am and Tokyo from 7pm to 3am. The four-hour overlap between New York and London, between 7am and 11am Eastern Standard Time or Midday and 4pm GMT is when the greatest number of trades are being made and the most volatility is in the market. These hours benefit the quick traders ready to take advantage of dramatic swings before the market corrects itself.
During these times, if you can develop an awareness of which currency moves when, can be the points when you make your biggest moves on the market and if you place the trade just right can be the ones which make you rich. The biggest moves in this market will come on days when there is a big financial announcement, often when the major banks in certain countries announce their quarterly, six-month or annual figures. From these figures you will be able to judge when a currency should be bought or sold, especially if it is one of the most prominent banks.
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