FX trading before the internet & techniques

[adrianpolydorou]

Hello, I am seeking infomation about the history of currency trading.

What it was like before the Meta trader/ internet era. before computers. Before technical analysis.

I can not find anything relevant to my question on google, just info relating to benton woods and gold etc. Thats not what im seeking.

Seeking the techniques used by old timers

regards adrian

 

[EuroTrader]

Hello, I am seeking infomation about the history of currency trading.

What it was like before the Meta trader/ internet era. before computers. Before technical analysis.

I can not find anything relevant to my question on google, just info relating to benton woods and gold etc. Thats not what im seeking.

Seeking the techniques used by old timers

regards adrian

Forex trading is an Old market place. For knowing its history you will have to deep dig in the search on Google only then you would be able to know about it

 

[ForexVerified]

People with cash in their pockets, exchanging money on the streets.

 

[adrianpolydorou]

thank you for your input

 

[AsstModerator]

There was an old thread with a link to a video. It showed traders placing orders by phone.

 

[downtrend]

I don't know much about it as I'm a new trader, after all of this technology. But previously to my knowledge a trader used to call from phone to broker to place his orders.

 

[EuroTrader]

I don't know much about it as I'm a new trader, after all of this technology. But previously to my knowledge a trader used to call from phone to broker to place his orders.

Now all of the traders are using the Meta Trader for placing their orders in the Forex markets. This actually allows them to do their trading without any problems

 

[adrianpolydorou]

. Yes I have seen a doco on youtube filmed roughly in the 80's about currency traders. one of the traders in the film is William Hong (williamforex.com). Im not sure if this is the same one your referring too Assist moderator.

I guess the core of my question is did traders use technical analysis or indicators when trading over the telephone. Perhaps traders had more of a 'price mind map' as opposed to the now mt4 visual, and relied on more fundamentals and macro economics .....

 

[ForexVerified]

. Yes I have seen a doco on youtube filmed roughly in the 80's about currency traders. one of the traders in the film is William Hong (williamforex.com). Im not sure if this is the same one your referring too Assist moderator.

I guess the core of my question is did traders use technical analysis or indicators when trading over the telephone. Perhaps traders had more of a 'price mind map' as opposed to the now mt4 visual, and relied on more fundamentals and macro economics .....

They used point and figure charts.

 

[grabthatpip]

Hello, I am seeking infomation about the history of currency trading.

What it was like before the Meta trader/ internet era. before computers. Before technical analysis.

I can not find anything relevant to my question on google, just info relating to benton woods and gold etc. Thats not what im seeking.

Seeking the techniques used by old timers

regards adrian

maybe every morning they- the old timer - request chart print our from their broker
and after recieve the chart with daily open and close chart . they draw everything manually , trendline, chart pattern, support resistance.and maybe if their trading system use Moving Average or RSI, they must draw it by their self

after that old trader calculating their margin, their stop loss, their lot size , etc manually
and than call than grab the phone. if many people want to use that phone they must wait ill their turn

call Dealing Quotes and yelling, i wanna buy AUDUSD or i wanna sell AUDUSD with stop loss at ... and take profit at...
and if dealing quotes not busy , their order will enter the market at their price.
but if not , they will have slipage, 20-30 pips maybe

i think technical analysis are always same through years. if we talking the classic methode like support resistance, chart pattern, candle pattern, basic indicator, dow theory. et