Forex trading is happening at a faster pace than ever before, and for traders, the internet is at the heart of high-speed trading decisions. Just recently, forex traders were anticipating a weaker dollar, as it seemed that the Fed was going to cut rates by at least half a basis point. Due to a rallying economy, however, unemployment rates are at an all-time low, which gives the Fed less reason to cut the rates.
Traders who didn’t keep an eye on the news and still had their money on the fact that the dollar was going to weaken would have lost out. It’s imperative that traders include the internet in their forex strategy.
YouTube Becomes The New Forex School.
Spending thousands of dollars on a formal education doesn’t always work out for everyone, and for some, it doesn’t happen at all. However, forex traders are revealing the power of the internet by accessing online trading materials from streaming sites such as YouTube. Online traders who are willing to work through the online courses and tutorials to gain an understanding of the forex markets have the potential to unlock strategies that could lead them to hit the bigger trading numbers.
Forex Gets Managed Funds.
Investors who are reluctant to go the forex route and prefer something a little more traditional like a mutual fund, may find common ground with the MAM and PAMM managed accounts. These accounts allow traders access to the forex markets without the need for them to get involved in the individual currency pairs. These accounts are a pool of forex pairs that are carefully selected to provide traders with the cream of the forex crop. It also allows traders who don’t have the time to trade to gain access to the markets, as someone else is managing the account on their behalf.
AI (Artificial Intelligence) Shapes The Way We Trade.
There is an innumerable amount of information out there that shapes the way we trade on the forex markets, and with AI technology, forex signals, charts and analysis will never be the same again. While robo advisors already make use of this technology, forex traders are reaping the rewards, thanks to machine learning and predictive analysis. For traders, this is groundbreaking, and will shape the trades of the future.
Up until very recently, the way to determine which way the markets would go was to keep an eye on the parking lot of the local malls and supermarkets. Empty supermarkets meant a frugal period and affected certain currency pairs. Today, we have the internet and endless technological advantages that make parking lot spotting a thing of the past.