Let's look at the cold, hard facts
Approximately 80% of all currency transactions last a period of seven days or less, while more than 40% last fewer than two days. Given the extremely short lifespan of the typical trade, technical indicators heavily influence entry, exit, and order placement decisions.
Further, approximately 85% of all daily forex transactions involve “the majors,” which include the US dollar, yen, euro, British pound, Swiss franc, Canadian dollar, and Australian dollar. The depth and concentration of the market in just seven currencies provides a statistically significant dataset for trend analysis. Technical indicators work the same way on the currency markets as they do on the equity markets.
Of the more than one trillion dollars a day transacted in the foreign exchange markets, an estimated 95% comes from speculative trading. While large international banks are responsible for the majority of this volume, there are retail investors all over the globe trading forex on a daily basis. Without a doubt, investors in the US are behind the curve with regard to learning about and participating in this market.
Can the process be streamlined?
A lot of indicators and automated trading software exists. While mixed results exist both in manual and automated trading PIPJet stands out with some impressive stats.