Is BEMILLIONAIRE System Legit? BEMILLIONAIRE Software Is Tested with Great Success Rate!
About BEMILLIONAIRE System
Currency trading is always done in pairs meaning you sell one currency to buy another currency. So the proper question is what are the top traded currency pairs. The top traded currency pairs are EUR/USD, GBP/USD, USD/JPY, USD/AUD, USD/CAD, USD/CHF, EUR/GBP. These seven pairs are also known as the major pairs. The daily turnover in the currency market is over $3 trillion. Almost more than 90% of the currency market turnover involve these major pairs.
However, the top most traded pairs are the EUR/USD, GBP/USD and USD/JPY. EUR/USD is the most heavily traded currency pair in the market. As a currency trader what you must do is master trading one or two pairs. For example, you can master trading EUR/USD and GBP/USD.
Each currency pair has got its own unique behavior. Mastering a currency pair will help you become familiar with the behavior of that pair at different times of the day as well as different times of the week.
The currency pairs that are not traded frequently are known as Exotics. The bid/ask spread on exotics is always quite large. This spread is your trading cost. When you trade EUR/USD, most brokers will be quoting a spread that can be 1-3 pips whereas if you trade NZD/USD, the spread can be 8-10 pips. So it is always more advisable to master trading the major pairs where the trading cost is low.
Automated high frequency currency trading is becoming more and more popular with the development of new trading technologies. High frequency trading as the name implies means making rapid trades grabbing a few pips each time. The reduction in transaction cost like the spreads in the currency market has made high frequency trading a profitable possibility. High frequency trading is usually done by institutional traders to squeeze small scale gains from minimal moves in the market. High frequency trading is also known as algo trading.
It is humanly impossible for a trader to rapidly click the mouse and execute multiple orders. But using algo trading systems, it is very much possible to make rapid trades grabbing a few pips each time that is more than the spreads. The most popular strategies used for automated high frequency currency trading is scalping.