Forex Technical Analysis - The Art of Predicting the Future by Studying the Past

The Forex market, or more formally the Foreign Exchange Market, is for the buying and selling of currencies throughout the world. Trades on the market are done electronically -- often through Robots -- thus, there has been much written about "automatic" or auto Forex trading. It is currently one of the fastest growing strategies for making money anywhere.
Major trading centers are located in London, Tokyo and New York, with other trading centers located in Frankfurt, Zurich, Singapore, Hong Kong, Paris, and Geneva.
The Forex is the largest global market with over $3 trillion traded daily, dwarfing the New York Stock Exchange. The market is open 24 hours a day, 5.5 days a week. The market is made up of individual traders, institutional investors, banks, investment firms, hedge-funds, pension funds, and sovereign governments. It is an unregulated market that is easily entered or exited by investors -- making it impossible to know how many players are in the market at any given time.
It goes without saying that the goal of successful trading in the Forex market is to make money. This is accomplished by taking long or short positions after correctly anticipating a chosen currency pairs movement, up or down, at the right price to open the trade. This must be done with total precision. Many traders attempt to formulate a trading strategy in which t risk is minimized and potential profit maximized. Anyone who has traded for any length of time knows this is extremely difficult for most to accomplish successfully.




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