Thursday, February 2, 2012

Forex market technical analysis

The Forex market is one of the largest financial markets on Earth. The average day to day volume is more than $3 trillion. The Internet, together with deregulation and globalization, has engendered a wave of hyper competition that includes the emergence of new exchanges, markets, and distribution channels providing opportunities for cost reduction and Strategic advantage. The Bank for International Settlements (BIS) recently reported that the foreign exchange also known as the forex is at 2.9 trillion daily. Historically, Forex has been mainly dominated by banks, including central banks, commercial banks, and investment banks. However, the percentage of other market participants is rapidly growing, and now includes large multinational corporations, global money managers, and now more often the average Joe. Only one problem the corporations and market managers have the financial backing that most people don’t. Using Technical analysis software can close that gap.

The program that I find to be very useful is called Million Dollar Pips. This program is very easy to use and set up. Here is an overview of the set up process.

Step one: Sign up for a broker. I like

Step two: Download the Meta Trader. Review

Step three: Install the software using the simple installer.

Step four: Click a few buttons to set it up and your running in a matter of 5 - 10 minutes.

You can get the program at: