Forex Trading: Four Things That Not Everyone Knows About Successful Online Tradi

Posted by edwardjohnson on August 30th, 2018

In this article, we will discuss 4 points that not everyone knows about the booming Forex market. We also remember that trading Forex is very dangerous especially if you adopt the wrong strategy and neglect to pay the utmost attention.

We all know that forex is seen as the most superior liquid trading market in the globe preferred by many traders worldwide and also for its liquidity. But let's see some points that should be kept in mind when trading with the Forex market.

Important points you should know when trading forex

Main Trade Influencers in the Forex Market

Very often we hear about Forex trading, but we do not always know how to recognize those who trade. But we know that asides traders, there are other subjects that can trade and these are the supranational and international bodies, such as banks.

A major player is Deutsche Bank,  one of the biggest influencers in the world, on the contrary instead of Germany, which is a relatively small market.

As well as being considered the main player, Deutsche Bank is also the largest in the market, with a market share of 14.6%. This is followed by the Citi  with 12.3%, then moving to Barclays with 11%

It can be said that all the 10 biggest market influencers are those who their trading move almost 80% of the market.

The Forex Market is a Very Dangerous Market

Unfortunately, most of the forex traders especially newbies think it is a bed of roses. But a wrong trade step could cause the loss of the capital invested. You will understand with ease why newbie traders fail to close the first year on a positive note if you look carefully at these points. That’s why starting trading with professional brokers like Juno markets forex is advisable for beginners to minimize and even stop losses.

Online Trading and Currency Inflation

Very often, inexperienced traders usually fall into error thinking that exchange rates only undergo small changes, that is why to heed to important Juno markets opinions is vital. Unfortunately, it is more difficult than you think and it is not always like that. In fact, all traders can testify to the 2008 devaluation in Zimbabwe, which was the worst in the whole history, with percentages that reached 6.56 sextillion (10 to 21st).

Forex Trading and Dominant Currency

Today, most foreign exchange affects the dollar. Very often we hear about the strong dollar and weak dollar, but few know that before the dollar was used for the purchase of raw materials, the pound was used. The pound was used for international exchange rates and the quotation of raw materials. The pound was once the dominant currency in Forex.

Today, however, the US dollar has replaced the pound and represented the most traded currency in the Forex market.