Money Managers...
Money Managers Must Be Knowledgeable
Superior trading professionals should be current on the tools of analysis, and
ahead of the pack on interpretation of market information. By being sharper than
most, excellent money managers can take a position in the marketplace sooner and
exit before a loss. To be on the cutting edge of volatile markets, traders need
up-to-the-minute market information.
In order to process that information to determine moves in
the marketplace, money managers must have access to state-of-the-art technology.
In the case of spot forex trading, this would include Reuters' streaming,
real-time prices on its electronic network. Technology plays an essential role
in enabling forex traders to continuously study international and national
conditions and relationships.
Ethical Forex Brokers
A broker should be registered with the Commodities Futures Trading Commission
(CFTC) as a commodities trading advisor (CTA), or some such designation
indicating legal status. The spot forex trading marketplace is unregulated,
global, and dynamic. Even experienced investors must be cautious. The CFTC has
consumer alerts warning the general public about scams and frauds in ads for
forex trading.
Beyond legality, however, is the ethical relationship a
broker should establish with a client. A sophisticated market trader might be
able to detect shortcomings in a broker. A less-experienced investor must rely
on the expertise and integrity of money managers. Fortunately, there are many
resources available to help consumers find knowledgeable, principled brokers.
Today's Forex Price (Four Major Currency Pairs)
EUR/USD USD/CHF
GBP/USD
USD/JPY
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