Know about forex trading history
i don't know how much of you really know the history of forex . i have been searching for it when i was starting the trading.
here's some what of things i have understood on those searches.
after the world war II world was facing global economic problems . so western countries felt a need of a system to stabilize the economy .
and the brettonwoods system came into the act , where the exchange rate of currencies were set against gold .even though this stabilized economy for a while major economies of the world was growing and changing at different speeds this limited the rules of the system .
and in 1971 the new free floating currency market emerged .here the exchange rates were decided by the supply and demand.
but it was only easy to determine fair exchange rates after the furious growth of internet when the banks started to open their own trading platforms
but later it started the use of internet based trading platform for individual traders . which we all use currently.
well that's all i know i have read it in some sites so there shall be more detailed explanations over net if you want more just search it. ;)