17 Proven Currency Trading Strategies – How to Profit in the Forex Market : [PDF Download]

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“Speculators trade the forex market purely for profit. There are basically two categories of speculators in the market: retail traders and hedge funds. On average, more than 90% of the daily trading volume in the forex market is speculative in nature.

Speculative moves are sometimes called “smart money” or “hot money” because these moves are the first to move in and out of countries. As an example, if speculators believe that a country’s economy has expanded too much and is in danger of overheating, they may get out of the currency in anticipation of cooling measures by the government.

This would cause more supply than demand for the currency, causing it to depreciate. One of the world’s most remembered speculative plays on the forex market happened on September 16, 1992, also known as Black Wednesday.

On that fateful day, currency speculator George Soros bet heavily against the pound and made USD1 billion in the process. Two weeks prior to Black Wednesday, currency speculators, including Soros, sold billions of pounds, hoping to buy them back cheaply and profit on the difference.”

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