Forex Basics
I will start by identifying and defining the essential aspects of foreign exchange trading, and key components that you will be exposed to as a forex trader.
Forex is an acronym for Foreign Exchange. The foreign exchange is a currency market where currencies are traded. Traders are trading one currency against another. There are very large players in this game such as, large banks, corporations, and countries. There is also the speculative trader. Most individual traders would fit into the speculative category. Speculative trading focuses on the value of one currency with regard to another. As a speculative trader you focus on or bet on which currencies will go up in value and which ones will go down. Fundamental economic news and political situations play an important roll in the fluctuation in value of a currency for any given country.
Forex is the largest financial market in the world. Daily trading volume exceeds $1.5 trillion. Comparing this to other financial markets such as equities at $50 billion daily trading volume, and the futures market at $30 billion in daily volume you can begin to realize the flexibility and infinite trading liquidity the FOREX has to offer. The FOREX is a 24 hour market. This means flexibility for you as a trader. This market never closes. You can always find good trading opportunities at your convenience. This is a 24 hour electronic online currency exchange.
Currencies are traded in pairs. Meaning when you buy one currency you are selling the cross currency. The position that you take long or short is indicative to how you think that pair will perform. For example, if you were to buy long USD/GBP, you are betting that the USD (US Dollar) will increase in value against the GBP (Great Britain Pound). You are actually buying the USD and simultaneously selling the GBP. If you were to go short on this pair you would be betting that the USD is going to decrease in value against the GBP. It can get confusing but fortunately the services that provide the trading platforms from which you will be placing trades will keep track of this for you. Everything is electronic and online, trading is done in real time. You can watch immediate results of all your trades. These are highly sophisticated programs tracking every movement in the currency market in real time.
#1 - Best Forex Robot - FAP Turbo
The FAP Turbo was choosen to be our number one pick for a very obvious reason. When it comes to profiting in the forex market, the FAP Turbo is king.
The website for this product claims that it will double your money every thirty days. Although we didn't see results quite this good, and we don't expect to, we're still certain that you will be very happy with the results you will get with this robot.
#2 - Best Forex Robot - Megadroid Robot
The Megadroid Robot has every right to earn its number two spot in our picks. We were very pleased with the results that we received from trading with this program.
The program has what is called a Reverse Correlated Time and Price Analysis (RCTPA), which allows the software to predict what's going to happen in the immediate future based on data from the past. Although this product does not profit as well as the FAP Turbo, it still does an amazing job of profiting in the forex market.
#3 - Best Forex Robot - Ivybot
We had very high hopes for the Ivybot when we first started testing it. These hopes were not fully met, because we thought it was going to be the next FAP Turbo, but we weren't dissapointed either.
The bottom line is that the Ivybot does an incredible job of profiting from the four different major currency pairs that it trades. That's really all there is to it.
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