HFX.com, a world leader in online Foreign Exchange, announced today a new survey on the decision making process of traders and how they are influence by the political news and trends. The survey results were based on HFX.com trader's actual trades and with questioners that were filled by the traders. HFX.com as a leading broker firm in the Middle East and the Gulf based it research on those markets.
Philip S. Martin, HFX.com Chief Executive Officer explains the idea behind this survey: "like always, we had the costumer best interests in mind, and in order to help our traders gain from the foreign exchange markets, we wanted to examine their decision making process and to see if we can help take the right decisions when it comes to trading in the Forex world".
"We thought it would be best if we will focus on the traders' state of mind, and the data that was available to him prior to the decision he made" Martin explains, "we want our traders to make the right decisions, and we want them to take them in the right time."
The questions that interest us the most were:
- Which kind of data he used when he reviewed the market
- Did he use news sites or newspapers
- Did he review market analysis predictions on the market?
- Do political changes influence his trades?
It was predictable that every trader has his own strategy before he make an important decision like making a trade. However we the survey did find 3 main trends in the traders habits.
One method that was very popular was best described by Mr. Faisal Jafari, "I get of my information and then the decision I make from the online news sites, I watch the news, read the articles and the political status in the countries that I like to deal with, when I traded with the Euro I follow very carefully all the news regarding Greece and Spain that had a lot to influence on the market. It helped me to analysis the Euro trend better than any other analysis I read".
Another approach was described by Mr. Khaled Afif, "I was trading in the EUR/USD and watched the influence of economic indicators like the USA Nonfarm payroll employment which has a big impact on the USD vs. all the other currencies such as EUR/GBP and more. This indicator is published once a month but his influence is very important on trend in the market".
The last method that HFX.com found to be in use by it traders was summaries by Mr. Hossam Yasseen, "I like to trade with commodities, the reason for that is, because it is simple, take the Oil as an example, the Oil prices are influence by a lot of parameters, but the Iran political crisis with the worlds in the biggest of them all, if I only watch what Iran president Mr. Ahmadinejad comments and his 'relationship' with the west and I can easily predict where the market in heading."
"Using those insights from our traders" said Mr. Martin "can give the traders all they need, we send them daily market reviews, economic indicators and relevant news feed that will help them make the right decision in the right time."
About HFX Global Ltd.
Founded in 2008, HFX Global Ltd. the operator of HFX.com, is one of the biggest brokers in the Arab market, with over 3000 new traders each month. HFX.com focuses on providing the ultimate trading experience for it traders, providing 3 trading platforms, trading signals and market analysis for each trader. With offices all over the globe HFX.com is considered one of the top brokers in the world today. www.HFX.com
© Press Release 2012
