Getting The Best Forex System
The foreign exchange market, better known as Forex market, is very lucrative. It involves trading currencies in a bid to make profits from the ever fluctuating exchange rates. In order to cash in on this market, one has to employ the best Forex system. Traders have to use technical analysis to make trading decisions. This normally involves studying combinations of price action and technical indicators that are supplied by trading software and charting websites. Forex robots are able to automatically make trades based on these technical analysis techniques.
Exchange Money Conversion to Foreign Currency (Photo credit: epSos.de)
There are many Forex robots available in the market. Therefore, it is up to a trader to find the best one. It is only through doing so, that one can make the most out of the market.
The Forex Growth Bot EA is one of the best trading systems that are being marketed online. Many people who have used this bot have succeeded in the market. This is due to some of the unique features of the bot, such as low lot sizes, low risk, high reward trades and low drawdowns.
Using the Forex Growth Bot EA, one is able to protect his or her capital from being wiped out. This is because this bot mainly focuses on risk and money management. Moreover, it has many useful features that come in handy when trading. Therefore, one does not have to be vigilant at all times in order to protect his or her investment. The bot does that for him or her.
3 Well-Regarded Forex Trading Systems
The best Forex trading systems help identify lucrative opportunities for the serious trader. Perhaps you’re new to the world of trading and you want to get it right from the get-go. Or perhaps you’re someone who’s been dabbling with it for some time now but haven’t really had much success.
The first thing that you must understand as a trader is that the market is highly volatile and highly unpredictable. Charts and graphs do serve a purpose to an extent, but they’re not all they’re made out to be. It is still best to incorporate the fundamentals when trading.
Let’s take a look into some of the most well-known Forex trading systems available.
Dukascopy has gained a reputation of being the go-to tool if you want real-time analyses of a currency pair. The tool itself is not foolproof, but the technical indicators can be valuable in making decisions.
Swissquote is a leading platform that is regulated by agencies in the Middle East and Switzerland. It offers 60 currency pairs as well as silver and gold. Access to a broker is by means of telephone, email, or chat.
Alpari is based on Wall Street with branches around the world. It offers risk-free accounts which can be used as a demo-environment for 30 days. Alpari consistently ranks among the top forex trading systems because of its wealth of educational materials.f
Euro Performance In Forex Trading
According to recent EU Forex trading numbers, the euro has been taking some losses against its main competitors in the currency markets. This disappointing news is coming on the heels of less-than-stellar retail sales performances and lower order numbers for Germany-based factories. Other assets such as crude oil and the British pound are now predicted to see bear market patterns as well in the near future. In the most current EU market news, traders will want to keep a close watch on the German Industrial Production figure, which will become available at 11:00am GMT. If this number posts below predicted performance, further EU market losses are expected to follow close behind it.
Euro (Photo credit: aranjuez1404)
News on the Economy
On the other side of the pond, the US dollar saw more bull market patterns and yielded higher returns. This data surpassed that of EU retail sales and orders from German factories. Mid-day trading saw a USD/CHF increase of almost 50 pips. The GBP/USD data decreased to about 60 pips during the same trading period.
Little news has been released from the US regarding this performance, and movement of the US dollar will probably happen again as a result of the latest euro-zone trading data. Many analysts predict that this month’s indicator will be higher that last month’s, which will probably generate more risk in the market. It could also wipe out any gains the greenback made yesterday. During trading later in the week, US dollar traders will want to watch for the latest US Unemployment Claim numbers as well as figures from the trade balance. Both of these figures will likely generate further volatility in the case of the greenback.
Losses of the euro in Forex trading are attributed to EU unemployment numbers, low retail sales and disappointing factory order numbers. These losses are considered moderate against currency rivals designated safe trading havens. Compared to recent Japanese yen market performance, the common currency took a 60 pip loss to start trading as low as 114.23.
Posted in Forex Trading Systems Tagged Business, Commodities and Futures, day trading, European Union, Foreign exchange market, Forex, Germany, Greenwich Mean Time, investing, Japanese yen, Pound sterling, United States
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