Introduction

Market participants who trade in currencies, or foreign exchange (Forex) traders, trade in the largest and most liquid market in the world. The Forex market is a connection of banks, brokerages, and market makers worldwide that allows traders to buy and sell upwards of 50 currencies, 24 hours a day, 6 days a week.

While currency trading is a relatively new market, many individual traders have learned how to study the interest rates, economic information, growth rates, and trading patterns of the United States, Europe, the United Kingdom, and Asia for a profit. They know that this information, coupled with charting skills, can allow them to trade in the exact same way as large institutional traders do: They trade Forex in the spot ...

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