The Sensible Guide to Forex: Safer, Smarter Ways to Survive and Prosper from the Start

CHAPTER 11

Newer, Smarter Methods

For those seeking simpler ways to tap the potentially faster profits from short- to medium-term (ranging from minutes to weeks) trading of forex, with more controlled risk, we introduce two new and very useful instruments:

• Forex social trading.
• Forex binary options.

Both have come out only over the past few years, and are the fastest-growing sectors of the forex industry for good reason. They meet an important need of traders to tap forex trading in ways that are easier and less time-consuming, and for many traders they offer a better chance of profiting.

FOLLOW THE LEADERS: FOREX SOCIAL NETWORKS AND TRADING

Between 2007 and 2009, the first social networks and social trading sites showed promise for stock investors,1 so it was natural that the idea of tapping crowd sentiment via social networks, and copying the moves of top traders via social trading, would quickly be applied to the rapidly growing forex trading scene.

The first social trading networks appeared in late 2010 and are on their way to becoming ideal solutions for many investors seeking forex exposure and diversification but who lack the time or expertise to trade successfully on their own.

The trading networks evolved from an only slightly older and equally valuable new tool, forex social networks.

What Are Forex Social Networks?

As retail forex trading gained popularity over the past decade, forex social networks arose to fill a massive information vacuum. Compared to other financial ...