If it is not "technical analysis", what is it? The other side of this is known as the "fundamental analysis".
Traders need to know the difference and why most foreign exchange dealers these days use technical analysis.
Fundamental analysis is based on an instinctive feel for the forex market to the rich experience over many years of trading.
Without generalize too much, traders of the fundamental analysis have been in business for a long time, long enough consistently seen Ebbs in different currencies and to know what factors determine their value.
This is an over simplification, but for the most part, to be able to beat the market as a fundamental trader, you need to be a pretty good economist. Most successfull fundamental forex traders have a specialty currency pair or two and understand the complex inter workings of the relationship.
Prior to the average player be able to Dabble in the foreign exchange market, forex trading was only for major banks and other large institutional investors.
Decades of experience in a variety of information, and a clear idea of how currencies behave could in the current climate make you a large sum of money. Moreover, information technology was not as important in fundamental analysis as it deals more with the observation, hunches and lots of records. Now that information technology makes technical analysis more efficient, it is a favorite tool of most individual investors.
Much to the consternation of traditionalists in the watch making world, the introduction of digital watches has literally changed the face of timekeeping.
From the very beginning of mechanical timepiece design, clock and watch faces have featured analog movements with two hands, one showing the hour the other showing the minutes.
Eventually a sweep hand was added to denote the seconds passing by.
This configuration remained as the standard for hundreds of years and is still the dominate feature of watches today.
The electronics revolution the swept through the consumer products market in the nineteen sixties and nineteen seventies was not lost on how watches and other timepieces were designed.
There were two innovations in particular that helped propel a new look and function into the watch market.
If you happen to like some particular electronic item which is geeky and stylish,
you might wonder going for something which has the functions of a wrist watch cell phone.
Many companies out there are thinking of getting you wrist watch models which can be talked into.
So one can understand that the days of James Bond’s gadgets are nearly over, when only Q could design a wrist watch in which the hero could talk into when he was in trouble and ask for help.
The choice of the best wrist watch cell phone in the market today took the word by storm.
The moment Bill Gates inaugurated a wrist watch which was voice-activated and could send email when necessary.
Since then, everybody was on the lookout for this technology to be modified into computer, cell phone, GPS, PDA or any other combination wrist watch. 
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Forex is the worlds largest financial market where exchanges reach up to trillions of dollars each day. It is also the most liquid market in the world where trades are done 24 hours a day, 365 days a year. Many people would really want to participate in this market.
Who would'nt get attracted to trade in the largest financial market in the world?If you are a regular person with a 9to5 job who is looking for a way to earn extra money, you should consider entering the Forex market and trade.
However, it also has its risks and people who have traded in Forex without the proper knowledge and skill have lost large amounts of money. Some have suffered extreme financial losses. This is why it is crucial for you to have enough knowledge and skills when you trade in the Forex market.But Forex trading have improved with technology, it is now possible for you to trade in the Forex market like a professional even without in-depth trading skills with a lot less risk with the use of the Forex robots.
With an auto pilot program, it is easier for you to trade in the Forex market and earn that extra money you want. This software can run 24 hours a day and therefore, giving you the advantage of not missing any money making opportunities when the Forex market changes. You can trade every hour of every day even while your sleeping or at work. With this benefit, you will never miss another potential profitable day in the Forex market.
This is probably one of the questions that you need a reasonable answer.
There are hundreds of investments out there that you can prefer, but why go trading foreign currencies instead? Forex investment is unique in various aspects.
Its trading volume is relatively huge compared to other market.
It has extreme liquidity or the capability of either buying or selling the currency without causing significant movement in the market price.
It has the largest number and variety of traders.It is one of the markets that have long trading hours (24 hours each day, except during weekends.
Trading locations are almost everywhere, not just in the United States or major cities of Europe. There are different factors that affect foreign exchange rate.
Another whooping fact that will make you excited to go on Forex trading: it has an average turnover in traditional foreign exchange market of around $1.88 trillion daily, according to the Triennial Central Bank Survey of the BIS (Bank for International Settlements).
Here are the daily averages of turnover on the Forex market for the last 17 years:
$500 billion (April 1989)
The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another.
It is by far the largest market in the world, in terms of cash value traded, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions.
The trade happening in the forex markets across the globe currently exceeds $1.9 trillion/day (on average). After the advent of Internet into comman mans home had made it easier for retail traders to trade in the foreign exchange market.
The 2004 BIS survey shows a surge in traditional foreign exchange trading. This seems to have been driven by momentum trading and carry trades in a global search for yield on the part of institutional investors and leveraged players as well as by hedging activity.
A major catalyst to the acceleration of Forex trading was the rapid development of the Eurodollar market; where US dollars are deposited in banks outside the US. Similarly, Euromarkets are those where assets are deposited outside the currency of origin.
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