The Significance Of Live Forex Rates
It is a fact that live forex rates really matter to forex traders as well as traders whose markets are influenced by the forex market, such as crude oil. Nobody can afford to ignore up to the minute information in trading forex and live forex rates are supremely important. The real advantage of having accurate, up to the minute quotes simply means a bigger window of opportunity. It may seem trivial to try to beat the market by few pips, but more and more traders today, especially traders involved in online trading in Australia make use of high leverage. Even a leverage level of 100:1 magnifies the profitability of very small market movements, taking place in few seconds. The magic of accurate up-to-the-second live forex rates is evident through the power of leverage and the implementation of well-planned trades. The accumulation of any such profits in one's trading account awakens traders to the gravity and importance of forex exchange rates and the opportunity they bring with them. These currency rates matter on every trading day and hour, as every forex broker knows well. And when volatility is high, currency pair rates become so important that they would be useless to most traders if delays occurred in sending this information across the globe; Hence having live information is half the battle for most of these traders and money managers. Every forex trader knows that sometimes even a single pip, at a critical support or resistance level, can trigger all kinds of landslide price movements. These are price zones where a lot of trading volume takes place and each pip can literally act like a domino, pushing the massive foreign exchange market up or down, one pip at a time for that specific currency pair.
EURUSD 1 minute chart: when leverage is taken into account the impact of even few pips is so large that big profits can be made even on days when the market appears to be flat and boring. Adding a whole new and exciting dimension to what would otherwise have been a 'boring' day.
Profiting from Live Forex Rates
How having an edge in currency trading can make all the difference. First of all, successful trading is not about having the perfect system or so called holy grail. It's about obscure methods, overlooked methods and subtle techniques. Even a tiny advantage which may seem trivial and not so promising may end up becoming extremely profitable. Accurate rates make this possible through the power of leverage, support and resistance levels and many other critical insights from the market itself. In the financial markets all traders look for arbitrage opportunities, better entry prices, and better risk-reward ratios at all times. Even though arbitrage is very difficult to achieve in practice, better entry price and better risk-reward ratios are much easier to achieve. Traders are able to get the latest rates on a specific currency pair, and then either buy the instantaneous dips or sell the instantaneous tops that the market creates. This process can lead to rapid gains in a short period. So much so that even though the pair in question may seem to be hardly moving at all on the daily chart. And yet the minute to minute intra-day fluctuations, magnified through the power of leverage, and directed by knowledge acquired on the underlying trend, the trader makes a fortune. All this is possible because these up to the minute or rather up to the second fluctuations are known to them through the magic of up to the second accurate rates.