Excelling in the foreign exchange (forex) market is not as difficult as people perceive it. That is according to Greg Secker. In his explanation, what a new trader must equip him/herself with before joining the market is at least some basic knowledge on how to read its market indicators. This may take time, but that should not be mistaken for complexity. Secker was explaining several key indicators that a trader must observe in order to make it easy and fast.
Greg Secker questions the authenticity of the claim success in forex trade is dependent purely on luck. He argues that the fact that those who succeed keep on succeeding is a good enough proof that they don’t rely on sheer luck but rather on something more solid. That solid thing represents the forex trade indicators. Some of the most reliable indicators include, but are not limited to, the Exponential Moving Average (EMA), Bollinger Bands, Simple Moving Average (SMA), and the Stochastic Oscillator.
The EMA is designed to detect and show sudden fluctuations in market prices. With it, traders can know which currencies to trade with and which ones to avoid. According to Greg, EMA and SMA have key similarities, but the latter is different in that it detects changes and makes predictions over a longer period. Short SMAs give indications on the value changes for a currency over a period of between 10 and 20 days. Long SMAs, on the other hand, analyses a currency over a duration of 50 to 100 days.
The Stochastic Oscillator predicts how a currency will behave in the future. It will, for example, tell a trader to have hope in currency on the decline because it will be bouncing back positively soon. On the other hand, it warns a trader to avoid investing too much in currency on the rise because there is a chance that it will decline in value soon.
Greg Secker is a scientist by training with a specialty is agriculture. However, he chose to pursue a career in the field of finance immediately after leaving the University of Nottingham in 1997. His breakthrough in the sector came through Thomas Cook Financial Services who made him a trading technologist.
By the time he left Thomas Cook in 2003, Greg was equipped with the necessary technique to navigate the forex market. Greg has already made a fortune from the trade and is now helping others to succeed as well.