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Assignment Requirements
This is the first experience for me to trade currencies in a professional market. I had a little experience trading in the Saudi stock market TASI. At the beginning of this exercise I had an issue to logon until the agent fixed it and I started to use the system in 07-21-2014. The first two days was a learning period to understand the pattern of the exchanging cycle, however I did some irrational transactions. It seems to me just like dealing in stock market with a slight different in the cause and affect. Yet, my initial trading strategy was to buy the most active and famous currency such as EUR, USD and keep them until their value appreciates. The reason why I chose EUR, USD, and CHF is because the tourism season in these regions causes a high demand for exchange. Technically that should appreciate these currencies value. I found this strategy needs a constant monitoring to the market trend, and cause a high loss. I also bought different currencies to watch its chart closely and try to find which one has better trading activities. Later, I started to place orders in the market price and set it to gain profit with a little bit higher prices, and stop losing with a lower price. I notice this strategy mostly cause me losing money. So I just kept the gaining profit option and illuminate the stop losing option. That led to two scenarios; either gaining quick profit, or holding more open position, which considered risky. Thus, I thought of focus trading in one or two currencies, however it also incorporates high risk. Quick orders and very small margin profit are the best strategy I have followed. Overall, my trading in this strategy causes a less loss, but not a high margin of profits. As showing on the attached report I have gain profits in (13) and gain losses on the rest transactions, which make my final position negative 20% from the initial capital.
Furthermore, by watching the fluctuation of the currency chart, I realized that gaining profits would be easy by understanding when to buy and when it is risky to buy. I notice that usually between 17-19 GMT is the peak-trading period, which is the best time to gaining profits for some currencies. Moreover, the news affect the market and the trader should pays more attention to it. Planning a good strategy should rely on particular currencies and focus on them only. Print out their charts for different periods and study the pattern of chart fluctuations. Know more about the amount, and the type of trade between the countries to analyses the trend of the cash flow. Understand any other factors that could be related to the market directly or indirectly. One important thing that I have learned about the exchange market that it cannot fall down one time like the stock market. That mean, when a crisis happens in a particular country causing its currency to depreciate, other currencies will just appreciate against it. The other currencies will not be affected which tell us; it is better to trade different pares. In conclusion, Internal, regional, and international political conditions and events can have a profound effect on currency markets. All exchange rates are subject to political instability and anticipations about the new ruling party. Political disorder and instability can have a negative impact on a nation’s economy. For example, Current situation in Syria, Iraq, and Egypt have affected their value deeply.
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