History of Forex.

Forex trading started during the time of the Babylonians. This system was designed for the currencies and exchange. In the early times, the goods are being traded for another tangible item. When the metal age began, gold and silver became the tool of transaction. This idea became popular during that age.

The creation of coins started then as well as the political regimes. When gold became an important trading tool, its use became restricted; therefore; the result which has been brought about by this is that the value of money has diminished.

A great panic happened then because people would like to exchange the value of their money for gold. In 1931, the gold standard was removed and the forex market was born; although people used to have a very small or no notion at all about it.

Foreign Exchange was introduced so citizens will have more monetary stableness and reliability. Through the initiative of the USA in July 1944, the new world’s currency was initiated with the use of the US Dollar. During those times, IMF, WORLD BANK and GATT were formed and agreed upon at Bretton Woods. The agreement was comprised of the Gold Standard which will be equal to $35.00 per ounce. Other currencies were also fixed with this standard. The reason for this is to avoid destabilizing the monetary crisis

Story of Forex .

You may know forex as the market that never sleep and where trillions of dollars are traded each day, but exchanging currencies has been around for longer than you think. Below is a brief history of Forex trading through the ages?

  1. Currency trading and exchange has been around since ancient times, with evidence of coinage exchange appearing in Ancient Egypt as early as 259 BC.
  2. By the end of the middle ages, currencies begun being traded through the first network of international banks.
  3. In the 15th century, Florence’s Medici family opened banks in foreign locations to facilitate trade and exchange currencies on behalf of textile merchants.
  4. And during the 17th and 18th centuries Amsterdam already maintained an active Forex market, with exchange taking place between agents from England and Holland.
  5. But the roots of modern trading as we know it begun taking shape in the 19th century.
  6. In the US, firms such as Alexander Brown & Sons became leading currency traders around the 1850s, with new participants beginning to engage in the business of foreign exchange trading by the 1880s.
  7. But perhaps the single biggest event in the history of currency trading happened in the 1870s, when the Gold Standard Monetary System was created.
  8. Before the First World War, there was much less control over international trade, and the consequences of the war caused countries to abandon the gold standard by this time.
  9. In the period of 1899 to 1913 foreign exchange holdings increased by 10.8%, while holdings of gold increased by only 6.3%, marking the importance of the emerging Forex market.
  10. By the end of 1913 nearly half of the world’s foreign exchange was conducted using the pound sterling, but there were only two foreign exchange brokers operating in London. The most active trading centers instead were Paris, New York and Berlin.
  11. But by 1928, foreign exchange trading was integral to the financial functioning of the city, and trade in London began to resemble its modern status.
  12. In 1944, the famous Bretton Woods Accord was signed, which allowed currencies to fluctuate within a range of ±1% from the currency's par exchange rate.
  13. During President Nixon’s tenure the Bretton Woods Accord was scrapped along with fixed rates of exchange, resulting in a free-floating currency system.
  14. The ineffectiveness of the Bretton Woods Accord and the European Joint Float had caused the Forex markets to actually close from 1972 to March 1973.
  15. 1973 essentially marks the beginning of the modern Forex market, when the state control of foreign exchange ended and complete floating and relatively free market conditions began.
  16. The same year Reuters introduced computer monitors that replaced the old methods of telephone and telex for obtaining trading quotes.
  17. And in the mid-1980s Reuters developed a form of electronic Forex trading that preceded the advent of the Internet that served as a real-time closed network for traders
  18. Today between $4 to 5 TRILLION are traded in the Forex market each day, making it the largest financial market in the world.

Understanding Forex Trading Robots

The use of Artificial Intelligence is limitless. It has already impacted almost any segment of our lives. It helps us get feedback from brands in real-time; it minimizes the risk of human error and automates most of our daily activities; it improves the photos we take on our smartphones; it assesses our creditworthiness, and so forth. One of the markets that benefit from artificial intelligence and Machine Learning most is forex trading. Namely, forex is the ever-growing industry that is worth $1.93 quadrillion. Recent studies say that $5.3 trillion is traded in this market daily. Low costs, high liquidity, ease of entry, a variety of pairs to trade, and no central regulator make it highly attractive for traders. Still, to get the most out of your forex investments, you need to understand the disadvantages of the market, as well. Complex price determination processes, high volatility, and high risks are just some of them.

To minimize the risk of failure, traders rely on AI. Stats emphasize that 90% of successful forex traders today use robots to make money. These innovative technologies allow them to analyze massive amounts of data effortlessly, track their performance in real-time, streamline trading processes and, therefore, make wiser trading decisions in the future.

Forex trading robots are automated software programs that generate trading signals. Most of these robots are built with MetaTrader, using the MQL scripting language, which lets traders generate trading signals or place orders and manage trades.

Automated forex trading robots are available for persons new in the industry and also for experienced trader to avoid psychological pressure in decision making. You can buy such trading system on monthly, quarterly, half yearly and annually bases from Big1 Trade.

Big1 Trade Robot trading systems are very good in short term trades and even good in long terms. Big1 Trade never claim 100% accurate results because forex market industry is a live performance and many things, incidents & factor directly affect the market trends which may goes against Robot set strategies.

But in most time these Robot Trading System work exceptionally good and generate handsome profit for you.