Trading with full knowledge of other traders’ open forex positions

Although the forex exchange is not a centralised marketplace, it is possible to know what positions other traders have open. This is unbelievably useful. Imagine knowing what others are trading (both in terms of whether they are long or short as well as how much volume their positions represent)!
Of course, the objective is not to do what everyone else is doing as this is financial suicide (remember, over 90% of forex traders LOSE money!). But when you see that everyone else is buying EUR/USD, that’s probably a good indication that you should be shorting the pair. The more extreme the price imbalance, the more likely you are to ride a market reversal to large profits. Of course, you may have to ride the dominating trend for a while, but sooner or later you will be on your way to profits.
This information is now available freely with several forex brokers. This allows you to avoid blindly following the herd. To see what other traders are doing, check out the page on Forex-Central.net: traders’ open forex positions. Liteforex was the first company to offer this, but other brokers such as Alpari and Instaforex have jumped on the bandwagon as well, and I’ll even go so far as to expect all other brokers to follow suit in the coming months. It’s an excellent way for them to retain their traders and it provides transparency.
It is clear that knowledge is power, but in the marketplace, using such information will give you an edge over other traders who are exclusively relying on their technical and fundamental analysis skills.
Forex-central.net is an online investing portal on the stock and forex markets. Traders can share their experiences and as well as their trading strategies.
On the Forex Central site, you can also compare brokers based in the UK and Europe that allow you to invest in global currencies (and commodities, indices, precious metals, shares, etc.). Forex trading on the currency market provides investors with opportunities to make huge profits.
To help you learn about online trading, the site publishes analyses and recommendations regarding stock and currency purchases
A forex trader intervenes on the foreign exchange market. He can be employed by a bank, an international company, an investment fund or even work for himself. His purpose is usually to make profits by betting on the differences in exchange rates between currencies, but there are also traders who manage the currency risk of merchandise exports within large international companies.