「KOL Analysis•Jay Tun」Success Begins In Knowing Who The Big Players In The Currency Market Are

7-1 reads the final score line in a match between Manchester United and Roma. In that match, 1 defender, 2 midfielders and 2 strikers scored for Manchester United. In the game of soccer, you will hardly hear of defenders scoring. Their main job is to defend after all!

The currency market, like soccer, has many players. Each player has his own role. Knowing the big players in the foreign exchange (Forex) market sets you up for success. This is because you will know whose activities to pay closer attention while trading currencies.

#1 Major Banks (aka Super Banks)

Unlike the stock market, Forex trading is decentralized; there is no exchange for currency trading. The largest banks in the world determine the exchange rates of currencies.

As these banks determine the exchange rates, they are highly involved in most of the Forex transactions. This special class of banks include Barclays, Citi, Deutsche Bank, HSBC, JPMorgan, and UBS.

#2 Large Commercial Companies

In this highly globalized world, raw materials and components are shipped to countries for the final assembly.

Currencies are exchanged for most import and export activities. Such an example is the purchase of OLED screens by Apple from Samsung Electronics. Apple need to exchange their USD to pay Samsung Electronics in Korean Won.

Mergers and acquisitions between corporations in different countries affect currency rates as well.

When Procter and Gamble (P&G) took over German company, Wella, for billions. P&G would need to sell USD and buy euros to pay them. This demand for Euro would strengthen the Eur/Usd currency pair.

#3 Governments And Central Banks

Governments and central banks (European Central Bank/Federal Reserve) conduct open market operations for the purpose of their operations, international trade payments and also handling their foreign exchange reserves.

Central banks set interest rates to achieve their economic goals and facilitate trade.

The value of your local currency is also set by the central bank through the massive purchasing and selling of foreign currencies.

#4 Speculators

90% of the trading volume on the Forex market is contributed by speculators.

Forex market players come in all shapes and sizes; with some backed by a fund while some others just in toe-deep. While its impossible to track all the activities and sentiment of these speculators, they leave behind footprints.

Their footprint is PRICE.

Knowing how to read the price action gives you an edge in your trading.

Conclusion

Just like any team sports, a single tweak by any of the major players in the currency market can result in a significant move even though 90% of the market participants are speculators.

Hence, it is important to know where the smart money is going.

You are moving in the right direction by knowing the big players in this huge market. Keep it up!

【About The Author】

An independent trader who seeks to educate through his own trading experiences, Jay began his own trading journey at the age of 22.

He is a self-taught trader who has read more than 200 books on trading and investment since college and created his trading methodologies modelling after several successful veteran traders.Jay has since amassed 10 years of experience trading different market conditions with consistency. Of the many disciplines in trading, he specializes in trading options, swing trades on equities, currencies,futures and contract-for-difference (CFDs).

WikiFX App is a third-party inquiry platform for company

profiles.WikiFX has collected 17001 forex brokers and 30 regulators and

recovered over 300,000,000.00 USD of the victims.

It, possessed by Wiki Co., LIMITED that was established in Hong

Kong Special Administrative Region of China, mainly provides basic

information inquiry, regulatory license inquiry, credit evaluation for

the listed brokers, platform identification and other services. At the

same time, Wiki has set up affiliated branches or offices in Hong Kong,

Australia, Indonesia, Vietnam, Thailand and Cyprus and has promoted

WikiFX to global users in more than 14 different languages, offering

them an opportunity to fully appreciate and enjoy the convenience

Chinese Internet technology brings. WikiFXs social media account as

below:

Facebook:

USA Area：https://www.facebook.com/WikiFX.US/

UK Area：https://www.facebook.com/Wikifx.UK/

Nigeria Area：https://www.facebook.com/WikiFX.ng

Twitter：

Areas where English is an official language：https://twitter.com/WikiFX_Eng

More details about how to download WikiFX App:

Please download WikiFX APP from links below or scan QR code ：

iosAppStore: https://apps.apple.com/us/app/fxeye/id1402501387？l=zh&ls=1

Googleplay: https://play.google.com/store/apps/details？id=com.foreigncurrency.internationalfxeye

If you have any questions, please feel free to contact us at wikifx@wikifx.com

Worried about missing out latest trends in the volatile market？ WikiFX ‘News Flash’ is here to help!

With 24-hour real-time update of forex market data by minute, you

can seize the opportunity of every bullish market! Bookmark the link

below and follow the market trends immediately!

UK Area：https://live.wikifx.com/uk_en/7x24.html

USA Area：https://live.wikifx.com/us_en/7x24.html

Nigeria Area：https://live.wikifx.com/ng_en/7x24.html

Wiki Forum Forum Function:

In order to help more investors, WikiFX has launched the WikiFX

Forum forum, which aims to provide urgently needed and professional

services to Nigerian forex investors.

The exposure function of “WikiFX Forum” includes the following features:

1: Allow investors who have been defrauded by illegal broker to complain directly in the forum (as shown in the screenshots)

As long as there is sufficient evidence, a review panel and an

executive team will contact the broker to discuss the complaint or

expose it directly through the media. Here are the exposure channels:

2: Block low score brokers from entering the forum

3: Monitor suspicious communication in real time, and directly spot and deal with suspicious fraud;

4: Negotiate with highly reliable brokers selected by WikiFX in the secure environment of WikiFX Forum.

WikiFX APP exposure channel: https://activities.wikifx.com/gather/indexng.html

Information page to understand forex scam and exposure channel: https://activities.wikifx.com/gather/indexng.html

Website exposure channel: https://exposure.wikifx.com/ng_en/revelation.html