Do You Yen to Pound Out a Profit?

Currency trading is really not as hard as it looks. Before a single cent is traded, you need to take the time to educate yourself. Always trust yourself more than anyone else. Forex trading is oftentimes traded with an underlying emotion or hunch. Someone else's hunch may not be the same as yours. The best thing to do is take the human factor out of transactions completely by using automated forex trading.

Forex trading platforms are basically charting tools to make trading easier. Good automatic forex trading programs will work with any platform and all currencies can be used with the automated Forex trading software. Most will also support well over 20 currency pairs.

Among all the countries in the world, five currencies stand out as the most popular:

Swiss Franc - The Swiss franc is independent of the G7 countries and the European Monetary Union yet historically continues to be one of the top five currencies. This is partially based on the fact that the Swiss economy is one of the most stable in the world.

British Pound - This currency is traded competitively against the US Dollar and the Euro. It was the currency to beat until late 1940's when the US economy began to stabilize.

Japanese Yen - Although the Yen's presence is small compared to the US Dollar and the Euro, it is still considered the third most traded currency. It has many traders, but remains very liquid.

Euro - A new currency that came into being in 2002 and is the legal tender of12 different countries withing the European Union. It's popularity has grown fast and is the second most traded currency.

US Dollar - The primary currency of the world. Every currency traded is evaluated against the dollar. This is the number one traded currency and tends to be involved in the best Forex trading transactions.

Beginners may want to stick with these five until they become more experienced. Other pairs become tricky to trade. Trading exotic pairs can be confusing with limited options, but it is possible. Automated Forex trading makes it easier.