The dollar plummeted against most major currencies on Wednesday after the Federal Reserve said it was making no changes to its USD85 billion monthly bond-buying program.
GBPUSD today is close to an 8-month high, after soaring more than 1.5% over the last 10 days. This poses a problem for Forex Software Traders, who depend on the small market fluctations in stable currencies for profits. Especially for Robots that use the Martingale (doubling) system, these uncertain times could spell disaster.
My personal view is that danger is looming; diversify your portfolio into safer investments, and possibly into Gold/Silver, Bitcoin, or Chinese Yuan (RMB). My best advise is to do your own research into these opportunities and examine if they fit your overall Investment Strategy, based on your Risk Preference.
Source: Bitcoin Boom: Is This the New Safe Haven?
Source: StarfishFX Daily Analysis http://starfishfx.com/en/resource-center/trader-resources/
Source: Forex - GBP/USD holds gains, near 8-month highs http://www.investing.com/news/forex-news/forex---gbp-usd-holds-gains,-near-8-month-highs-252850
Source: Gold Traders Split on Two-Year Anniversary of Peak: Commodities http://sgx-news.blogspot.in/2013/09/gold-traders-split-on-two-year.html
Just a little background, I was using a Forex Automated Software to trade the GBP/USD pair since November 2012. In light of the Economic Instability due to recent World Events, I have since stopped.
You can find out more about how the Forex Robot works at autoforexsg.wordpress.com. The Robot is still available for purchase, feel free to contact me if you have any questions at all. However, trade with caution!
Source: Youtube - When Will The Economy Collapse?
Source: Youtube - World War 3 Has Already Begun
- Ichimoku Points to a Strong GBPUSD Set-Up off Cloud Bounce (xe.com)
- ForexLive European morning wrap: Pound and yen prevail as markets await the magic from Mr B (forexlive.com)
- Bitcoin Now Has Huge Potential to Thrive in the Market, Says Jonathan Millet (virtual-strategy.com)
- Plus500 Offers New Opportunities for Bitcoin Trading, Reports ForexMinute (virtual-strategy.com)