Consider Getting a Foreign Currency Trading Sofware
Forex trading usually requires 24 hours and 7 days a week of your focus and time. But let's face it, you're only human and you also have other things to think about. You cannot completely give up your social life just for the sake of doing forex business. This is where the use of a foreign currency trading software comes in handy. It gives you an automated assistance to scan the market even while you sleep or attend to other more important things in your life.
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Showing posts with label foreign exchange Trading. Show all posts
Showing posts with label foreign exchange Trading. Show all posts
Sunday, August 16, 2009
Reasons to Get FX Software
Reasons to Get a Foreign Currency Trading Software
One of the most important reasons why you should get such a software is that it automates your business. It keeps you ahead of the game because all you have to do is key in your requirements and set the peripherals of your trading game. Another great thing about this software is that you can also equip it with a backup program as a fail safe device that keeps on going in spite of the glitches that may occur.
When you have a currency trading software program, you can make your forex business go on autopilot mode without having to sacrifice the opportunities that you might come across with. The software is also more focused when it comes to conducting your business. Since it is made from complex programs that are precise and accurate, the chances of error in terms of exchange rates and calculations needed are kept to a very low minimum if not none at all.
Another thing about these software programs is that they usually come with other benefits as well. By purchasing them you can be made eligible for free training or other activities where you can foster growth in the forex business. You can also gain access to other online portals which may prove to be very beneficial for budding forex business enthusiasts.
One of the most important reasons why you should get such a software is that it automates your business. It keeps you ahead of the game because all you have to do is key in your requirements and set the peripherals of your trading game. Another great thing about this software is that you can also equip it with a backup program as a fail safe device that keeps on going in spite of the glitches that may occur.
When you have a currency trading software program, you can make your forex business go on autopilot mode without having to sacrifice the opportunities that you might come across with. The software is also more focused when it comes to conducting your business. Since it is made from complex programs that are precise and accurate, the chances of error in terms of exchange rates and calculations needed are kept to a very low minimum if not none at all.
Another thing about these software programs is that they usually come with other benefits as well. By purchasing them you can be made eligible for free training or other activities where you can foster growth in the forex business. You can also gain access to other online portals which may prove to be very beneficial for budding forex business enthusiasts.
Sunday, August 2, 2009
Trade Volume
Forex: Rate of Growth of Foreign Exchange Markets
Figures for daily turnover in foreign exchange trading
In the early 1970s, the daily turnover in foreign exchange markets was $18 billion.
Transaction volume increased more than fourfold between 1977 and 1980 and fourfold again between1980 and 1983. Trading doubled between 1983 and 1986, and tripled between 1986 and 1989, when it reached the sum of $590 billion. It increased by almost 40% between 1989 and 1992, when it amounted to $820 billion a day.
The 1995 daily foreign exchange trading figure of $1.19 trillion represents an increase of 45% on that for 1992 (or 30%, taking into account the depreciation of the dollar). The volume of foreign exchange trade has therefore increased by roughly 83 times in the last 30 years.
This massive increase in the volume of trade is due to the break up in the early 1970s of the Bretton Woods system of fixed parities among major currencies and a move to floating exchange rates. It is also due to the growing liberalisation of financial markets, and the introduction of electronic trading, which makes it possible to deal with a greater volume of trade.
FIGURES 1998:
BIS calculated that the global turnover in traditional foreign exchange markets in 1998 had reached an estimated daily average of $1.5 trillion, a growth of 26% on the figures for 1995. This slowing of the rate of growth is attributable to the introduction of the euro, and economic problems in Asia.
Global daily turnover in foreign exchange derivatives contracts traded over-the-counter was estimated at $961 billion in April 1998 (up a huge 66% since 1995). Exchange-traded currency derivatives amounted to another $12 billion daily.
The notional amount outstanding on all OTC (over-the-counter) foreign exchange derivatives in June 1998 was estimated at $22 trillion. The gross market value of these contracts was $982 billion. BIS calculated that the turnover in notional amounts of exchange-traded currency futures and options for 1998 was another $3.5 trillion.
Therefore the total figure for daily foreign exchange trading in 1998 can be estimated at $2.473 trillion, or $593.5 trillion for the year.
Figures for daily turnover in foreign exchange trading
In the early 1970s, the daily turnover in foreign exchange markets was $18 billion.
Transaction volume increased more than fourfold between 1977 and 1980 and fourfold again between1980 and 1983. Trading doubled between 1983 and 1986, and tripled between 1986 and 1989, when it reached the sum of $590 billion. It increased by almost 40% between 1989 and 1992, when it amounted to $820 billion a day.
The 1995 daily foreign exchange trading figure of $1.19 trillion represents an increase of 45% on that for 1992 (or 30%, taking into account the depreciation of the dollar). The volume of foreign exchange trade has therefore increased by roughly 83 times in the last 30 years.
This massive increase in the volume of trade is due to the break up in the early 1970s of the Bretton Woods system of fixed parities among major currencies and a move to floating exchange rates. It is also due to the growing liberalisation of financial markets, and the introduction of electronic trading, which makes it possible to deal with a greater volume of trade.
FIGURES 1998:
BIS calculated that the global turnover in traditional foreign exchange markets in 1998 had reached an estimated daily average of $1.5 trillion, a growth of 26% on the figures for 1995. This slowing of the rate of growth is attributable to the introduction of the euro, and economic problems in Asia.
Global daily turnover in foreign exchange derivatives contracts traded over-the-counter was estimated at $961 billion in April 1998 (up a huge 66% since 1995). Exchange-traded currency derivatives amounted to another $12 billion daily.
The notional amount outstanding on all OTC (over-the-counter) foreign exchange derivatives in June 1998 was estimated at $22 trillion. The gross market value of these contracts was $982 billion. BIS calculated that the turnover in notional amounts of exchange-traded currency futures and options for 1998 was another $3.5 trillion.
Therefore the total figure for daily foreign exchange trading in 1998 can be estimated at $2.473 trillion, or $593.5 trillion for the year.
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