Forex trading online: A swinging place to put your money

Forex trading online — the fact that the market fluctuates is no secret. And despite all the technical data that many traders rely on, staying on top of the news and current events may be the best we to speculate on what's about to happen in the Forex market.
Perhaps the most dramatic example of winners and losers in one day happened in Europe in 1992. At the time the Bank of England was fighting to stay in the newly-created European Monetary Union. Many bankers and economists predicted the at England was going to be kicked out of the union. 

Pouncing on this idea, business magnate George Soros bet $10 billion against the Bank of England, knowing that the rejection of the country by the European Monetary Union would make the British Pound drop in value. And on September 16th, 1992 that's exactly what happened, the Pound plummeted, and Soros made $1 billion in a single day.
In Forex trading online, you're not likely to make that kind of money in a single day, but the point is made clear — that by staying abreast of the news and getting the opinion of economists and specialists, you can form an opinion about what's going to happen and apply that opinion to the market. 
It's not often that there will be a swing currency value this dramatic, but the same idea applies to more subtle changes too, and are the foundation of how money is made and lost.
A similar dramatic swing in the Forex market occurred with the fall of the Berlin Wall in 1989, though Forex trading online didn't exist yet. Another American business magnate by the name of Stanley Druckenmiller believed the fall was imminent, and he bought 2 billion worth of German marks. The idea was that the fall of the Berlin Wall would lead to the reunification of Germany and usher in a new age of economic vitality. Druckenmiller speculated right — his firm posted a 60 percent return on investment shortly after the fall.
Both of these examples have one common thread — they were based on fundamental economic data and current world events, and with that data these already successful businessmen were able to gamble and win big. 
But in today's modern, efficient and tightly regulated currency markets, major swings like these are far less likely to happen. But by using the same principles, making medium or long term projections based on current events and macroeconomic data — and not feeble chart tinkering — you too can walk away at the end of the day with a tidy profit.