The modern Foreign Exchange or forex market as we know it has been around since 1973. The establishment of the Bretton-Woods Accord in 1944 is usually thought to have marked the beginning of foreign exchange. It was made to stabilize the global economy after World War II. It not only created the concept of pegging currencies against each other, but also created the International Monetary Fund (IMF) as well. Currencies were pegged to the dollar which were then in turn pegged to gold in hopes of bringing stability of global forex events. Up until 1971 when the Act finally failed, it did manage to stabilize the economies in Europe and Japan. (more...)

There are many different methods, systems and strategies which traders, "newbies" and old "pro's", apply to the market to make a profit from the movements in the prices. Each trader will assert that his or her methods are the best and the most profitable, but the truth is that each trading system has its strengths and weaknesses. The real keys to making money from the Forex market are the following: 1. Having and clear and simple trading system, and applying it consistently 2. Managing the funds you are trading with tight disciplines 3. Taking control of your psychology This article will examine each of these three keys separately and propose some simple guidelines for traders to follow to avoid being trapped by the market during