The Forex history is a great thing to find out about.
Not many traders bother with it, so you will have an advantage, just wait and see.
A Good Forex History
The Forex market has been around for a very long time. No-one can ever say this was the first day Forex started because there have been many forms of Forex in history.
We may have not always seen it as Forex but the concept of trading has been in existence since the beginning of time. The concept of trading one thing for another is historical. What we know as trading today, was called bartering thousands of years ago.
An easy way to understand what it was, is to analyse trading now, without all the technology (sort of like the trading pits). People would travel from place to place and swap one object for another object.
Having a Forex history is very important! One of the major things used to predict the future is the past. We use the past to identify things in the future. If you can begin to learn what happened in the past, the future will start to be clearer. Understanding why a concept came into existence and how it worked previously can be vital to it's present performance. By delving into the Forex history:
We create a wealth of knowledge
Identify common occurrences
Allow the right preparation
- Allow us to understand when to enter and exit the markets.
One common feature which has been present since the beginning of time is supply and demand. Supply and Demand is a well known concept which we have seen all over the Forex history and previous trading. Trading has always come down to supply and demand.