02/01/2012 The Overnight Success of Forex Trading | Foreign Exchange Trading Softw« 1/4 bcbusinessonline.ca/management/finance/«/foreign-exchange-forex-trading Image by: Peter Holst Night shift: Forex Trading chief Winsor Hoang, hard at w ork. DaYid Jordan The Overnight Success of Fore[ Trading | July 1, 2011 With Fore[ Trading's automated softZare, \ou can make foreign-currenc\ trades Zhile \ou sleep. Or iron. Winsor Hoang sleeps soundly, averaging nine hours a night. On a typical day, he rises around 8 a.m., brews himself a cup of coffee and wanders down the hall to his home office to see how much money he made overnight. While he was sleeping, Hoang¶s proprietary software was making automated trades on global foreign exchange markets. And it isn¶t just Hoang¶s money that¶s at stake; about 1,000 people around the globe have a cumulative $7.5 million riding on his trades. Through agreements with a number of forex-trading websites, Hoang has either licensed his software to individual traders or charges a fee to let others mirror his own trades. He also licenses individual subscriptions to his software for US$98 a month through his website, ctsforex.com. The logic behind Hoang¶s software¶s algorithms has nothing to do with understanding global economics. His trades don¶t involve buying or selling assets but are strictly bets on which direction currency exchange rates are going to move. “The market either goes up, down or sideways,” explains Hoang. Taking recent movements into consideration, his software makes an educated guess as to which of the three options is most likely to occur next. RELATED LINKS The Working Rich: Blue- Collar Millionaires Blen] CEO George Moen Clearl\ Contacts CEO Roger Hard\ Peter Brown: Lifetime Achievement Award Bright Light: Jeanette Jackson IN THIS S EC TIO N Accounting Banking Corporate Finance Economics Personal Finance Ta[ation JANUA S M T W 1 2 3 4 8 9 10 1 15 16 17 1 22 23 24 2 29 30 31 MANAGEMENT FINANCE PERSONAL FINANCE FREE NEWSLETTER S YoXr Email Address Sample ª | Archive ª Best Companies Top One Hundred Content Collections The Maga]ine Site Archives Resources Videos Photos Contests
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02/01/2012 The Overnight Success of Forex Trading | Foreign Exchange Trading Softw…