The best FX trading approach uses superior market intelligence and teaches traders how to trade well while eliminating bad trader habits. But to trade fx well requires an in depth understanding of economics as well as market micro-structure. The foreign exchange markets is by far the largest market in the world as it dwarfs all others in comparison even when the ‘others’ are aggregated together.
It’s monstrous size is from the many industry sectors that have a component of foreign exchange. Banking institutions around the world are heavily involved in FX as are importers and exporters of produced goods. FX speculators are the smallest slice of daily turnover but oddly enough, this is the participant grouping that demands the most transparency and knowledge as they are more directly affected by exchange rate movements.
With iForex.Market you can expect something different. Our trading course stands second to none and lead the fx educational sector with price leading sentiment and real time trading models that analyze FX rates on the fly without the traditional historical lag traders are harmed by. Register a community profile, enjoy our trading sessions and join our Traders Course. You’ll learn how the market moves and so much more as your confidence soars!
Wiping the Slate Clean
It’s not an easy task, but when traders approach me to teach them, the first thing they must do is wiping the slate clean. This means forgetting what they think they know about the markets already. Those methods haven’t worked well enough in the past, don’t expect them to provide stable returns in the future either. When a trader is ready to do this, they are ready to understand what causes the markets to move in the first place.
Forces that Cause FX Rates to Move
How is it that a medical doctor grinds through over a decade of education and yet a trader without proper trading education assumes they can conquer the market with resilient trading profits without any formal education on the subject? Well, unfortunately, success is not statistically probable for traders either. Not until they understand what causes exchange rates to move in the first place. Money Flow.
Money Flow or Currency Pair Strength? Completely Different Animals.
The first glance of value traders see is what’s visible in strength meters. These types of analytical models offer some insight into directional movement in a broad based generalized directional movement. They are a direct result of cross border money flow and in effect a lagging analytical approach without refinement.
Money Flow directly though understands the value of currencies (not currency pairs) but the individual values of currencies (USD, EUR, GBP, JPY etc.) With individual currency indexes that engage a normalized value – traders are in a much better position to analyze apples to apples. It is from these values that our trading students and prop fund traders are finding tremendous success!
The retail sector of traders and educators in the years past have come up with some brilliant marketing schemes. Unfortunately, some of those concepts are not related to FX at all and are mere marketing gimmicks making traders feel they are on the ‘inside’ of an intelligent approach. The majority of our traders come from those methodologies and find far superior success with a data driven trading strategy and approach to market analytics.
This allows the trader to apply strategy directly on top of the data that causes the markets to move in the first place and not merely overlay strategy on candles that are already historical in nature. By far, the Best Forex Strategy for consistent profits is one that’s dynamic, responsive, intelligent and leads the market.