Talk:Foreign exchange market

Untitled
"Such day-long access to foreign exchange allows traders the luxury of dealing after normal hours or even during national holidays in their country of residence."

The 24 hour nature of FX makes it one of the most dynamic and difficult markets to be in. Is that not a pain more than a luxury? Herstatt Risk and troubles from the Herstatt Bank are well known lessons. doles 14:54, 2005 Apr 21. (UTC)

The bloomberg quote
The bloomberg quote is not an add for bloomberg, but a record of how much the forex market has grown, it is very pertinant stuff. Explain why someone tried to take it out?

Futures vs. Spot
There needs to be some clarification on these pages. Retail Forex Trading is done primarily on the SPOT market, not the Futures market. This is an important distinction because the two markets act very differently. Futures is typically 3 month delivery, while spot is 2 day (or even almost immediate, where a trader can open and close trades within seconds), futures have no market makers of last resort, while Retail Forex companies serve as market makers. Futures leverage is usually not extended past 20:1, while in Forex it is not uncommon to see 200:1 or even 400:1.

New Link
There have been innumerable ads for commercial retail forex brokers added to this article which seems to be completely against wikipedia policy. The current links may be pared down a little too much, but the above is a good reason for erring on the side of being conservative. So the "Non Profit Forex Training Society" link which seems to claim that it is offering free historical data would probably fit in - if in fact it is a good link. However, all that I can get is an "Entry" page where the links to the "goodies" don't work. If it doesn't turn out to be what it claims to be - I'll definitely remove it. Smallbones


 * Reply: Having problems with the host. Will get the historical documents on soon.

Spam
I haven't been back in a while but I noticed two things. First, someone posted the name of a non-dealing desk broker. There are only four or five in existence from what I can gather so the mention of one to the exclusion of all others would be a clear commercial endorsement so I deleted it. Second (and I didn't take time to check who deleted it and for what reason) there was a reference to stop hunting that has been removed. Perhaps the reference belongs on the forex scams page but it does provide some valuable perspective. I'll go with the group's judgement on this. Reference was made to a non-commercial blog which I won't cite here. Mcduffodonnell01

Milton Friedman views
What's the source of that section?Which book or article he said that?

Why do you keep reverting it to an old edition
My additions were all factual and I feel, very helpful for someone trying to understand the Forex market. If you want to change it please let me understand why

Randomly adding specific retail forex brokers
Please do not randomly add the names of retail forex brokers, that is considered an advertisement

David Krutz and his thoughts
"According to David Krutz from the Financial Times website (Published: October 9 2006 20:48) "The foreign exchange market will have doubled in size in just three years next year, thanks to increased participation by fund managers and pension funds, says research out on Monday". TowerGroup, a financial services research consultancy, said it expected total global average daily volumes on the FX market to exceed $3,000bn in 2007. FX volumes, which rose from $1,770bn in 2004 to $2,000bn in 2005, were set to rise to $2,600bn in 2006 and $3,600bn for 2007, as foreign exchange became accepted as an asset class in its own right according to TowerGroup"

Guys, I suggest to wait for the 2007 BIS study and speak about the facts. I'll remove this info, nevertheless it is still available here, in the Discussion section.

Soviet Bloc
I don't have Wikipedia editor authority anymore, but I think it's important in this article to note that during the cold war, Soviet bloc currencies were completely walled off. In other words, there were two world currency markets and the only means of exchange between the was barter: stolychniya vodka for pepsi distallate, the export by Charles Mackerras of musical scores, and the obvious oil or munitions. This goes to the heart of what money/currency actually is: a store of wealth backed by the effort of groups/governments to appropriate it (commonly in property taxes - something that makes no sense in a communal society - or the potential work of armies required to approprate the wealth of another nation, etc.). Because this article focuses an markets even though it concerns money, it doesn't address the general ignorance of Economists and the public about money and monetary policies.