The foreign exchange, known as the Forex or FX market for short, is the place where currency trading takes place. All Forex transactions typically involve one party purchasing an amount of one currency in exchange for paying a quantity of another. The idea is to make a profit based upon the disparity or difference between the values of the currencies.
The FX market is one of the largest and most liquid financial markets in the world, and includes trading between large banks, central banks, currency speculators, corporations, governments, and many other institutions. The average daily volume in the global forex and related markets is continuously growing. Turnover in April 2007, for example, was reported to be over three trillion dollars by the Bank for International Settlements and the market continues to grow with the volume increased by over 40 percent between 2007 and 2008 according to Euromoney’s annual FX Poll.
So this is an expanding market and one in which anyone can participate. You DO have options and you can work on improving your income and giving you and your family a brighter future.
E Forex autotrading or simply Forex autotrading is a strategy in which forex buy and sell orders are placed automatically or robotically. This system is based upon a program specially written for that purpose. Buy and sell orders are issued based upon certain criteria contained within the program. These criteria can be changed to suit the buyer or seller and it is the interchange between buyers and seller that constitute the E Forex trading.
This is also known as Forex Autotrading. Buy and sell signals are used typically by traders who enter and leave specific positions faster than manual traders. They can take advantage this way, of minute differences between currencies and accumulate a profit based upon volume trades. The criteria used to generate the buy or sell signals is somewhat technical in nature and tends to focus on price movements and certain technical indicators.
Historically, e-Forex or Forex autotrading has been used since around 1996 and currently there are two types of Forex autotrading
The first is fully automated forex trading. This is very similar to the algorithmic or black box style of trading. Here a computer algorithm (A step-by-step problem-solving procedure, especially an established, recursive computational procedure for solving a problem in a finite number of steps) has a criteria set of the timing of the buy or sell, the price and qualitity, all done by a robot or comuter program and without any human intervention. A user simply sets the parameters of the program and the computer then follows those parameters. In short, once the program is set no human intervention is required.
The other type of Forex autotrading is called the signal-based forex autotrading. As explained in Wikipedia, “This autotrading mode is based on the concept of auditing traders all over the world and making their strategies available to anyone interested in the form of signals. Then traders have the ability to automatically convert any of these signals to real trades in their broker accounts. Human interference here is augmented; signals come from live traders while users can actively select to follow a Signal Provider whose strategy fits their risk profile. Examples of such platforms are: ZuluTrade, Rent a Signal etc.”
The forex market is somewhat unregulated and open to abuse. Due to its openess to virtually anyone who wishes to use it, it has been exposed to many scammers and people suseptible to fraud. For this reason it is prudent and important to make a very thorough study of E Forex and how it works fully before commencing E Forex or Forex autotrading.