All Forex traders have a favorite Forex tool or from trader to trader, the basic premise is that you will find that one thing that helps your trading through and through as it has consistently proven itself. If you don't have one, don't worry – you'll find one sooner or later.
I come from a long line of gamblers; twice a week bingo, Friday night poker games, Saturday afternoon visits to the race track; at work there were office pools for the Super Bowl, the World Series, the World Cup, this playoff, that subway series – there was always something to bet on. When casinos started enticing adventurers with free bus rides and all you can eat buffets, you can bet I cracked open my piggy back and took a chance. Yes, I had the gambling gene. And even though I lost far more than I ever won, I enjoyed the noise, the sounds, the smell, the camaraderie, the commiseration and the excitement. If I won, it was just icing on the cake.
The Forex market can be appealing for several reasons to the average trader. For some, it is the leverage that can be applied to your positions. For others, it is the fact that you only have to pay attention to a handful of currencies in order to be involved. This certainly is an advantage of trading currencies as there are literally thousands of stocks available in New York alone. But for some traders, it is the "?exotic" nature of trading currency pairs that is truly attractive.
The tragedy in Japan is only just now beginning to be understood as various reports come in of thousands of deaths, massive flooding, and nuclear facilities that are in danger. Because of this, traders will have to be pragmatic as far as how they approach the FX markets, especially when it comes to the Yen.
There are a lot of traders and educators that I could consider for this title, and to be honest, picking it wasn't easy. There are many excellent traders that I speak to on an almost daily basis, and as such – they certainly could have been considered. Going to the education sector, there are several that I really like a lot.
These days, it's impossible to pick up a newspaper without reading about the recent revolts in Egypt, Tunisia and Libya which have shaken not only the region in which they took place, but the global political landscape as a whole. There's no question that fragile alliances have been all but shattered, past agreements have been called into question and the once-probable future has become entrenched in doubt. Most people reading these stories will digest the chaos and go about their regular routine. But for Forex traders, events occurring across the world become almost personal, as they have a definite impact on the Forex market and on the trades that each trader executes.