In currencies, this is the abbreviation for the Moroccan Dirham. |||The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
The currency abbreviation for the Moroccan dirham (MAD), the currency for Morocco and the de facto currency of the Western Sahara region. The Moroccan dirham is made up of 100 santimat (plural); popular language often refers to five santimat as a "rial", and one santim as a "franc". |||The dirham was used in Arabia and the Levant (a large area in Western Asia bounded by the Taurus Mountains and the Arabian Desert) in pre-Islamic times before the introduction of modern coins in 1882. Silver coins denominated in dirham were used until 1882, at which point the dirham became a subdivision of the Moroccan rial. The rial was replaced in Spanish Morocco by the Spanish peseta in 1912, and in French Morocco by the franc in 1921. The franc was then replaced by the dirham in 1960 when it was reintroduced. The franc remained in circulation until 1974, when it was replaced by the santim.
In currencies, this is the abbreviation for the Libyan Dinar. |||The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
The U.S.-sponsored program implemented following the Second World War to aide European countries that had been destroyed as a result of the war. The Marshall Plan was laid out by U.S. Secretary of State George Marshall during an address at Harvard University in 1947, and it was authorized by Congress as the European Recovery Program (ERP). |||The Marshall Plan gave over $13 billion in aide to European nations and was key in revitalizing their post-war economies. By the time U.S. funding ended in 1952, the economies of all the European recipients had surpassed pre-war levels, and the plan was considered a success.
A trading system that involves human decision-making for entering and exiting trades. This is in contrast to automatic trading, which employs programs linked to market data, which are able to originate trades based on human instructional criteria. Manual traders often employ computer programs in order to consolidate information. In some cases, they may also set automated indicators to alert them to potential trading opportunities. However, in all cases, human input is required to authorize trades. |||There is an ongoing debate as to whether automated trading is advisable or not. Currently, most traders believe that manual trading is superior, since human judgment is required to gauge market trends and control risk. They feel that the proper place for automation is in monitoring data and consolidating it for human interpretation. However, proponents of automated trading argue that this method is superior, since it takes irrational human behavior out of the equation. This debate is likely to become even more relevant as programmable trading continues to become even more sophisticated.
A trader who manually enters trades into a trading system without using computerized algorithms that enable automated order entry. In the frenetic world of trading, manual traders may be at a disadvantage compared to traders who use considerable computing power to exploit pricing anomalies in the markets. Also, manual traders may be more susceptible to trading on emotion compared to a trader relying strictly on a trading program. |||Entering trades or orders manually into a trading system also increases the risk of incorrect or erroneous order entry, which can be fraught with disastrous consequences if the error is large. Currency traders therefore increasingly use automated trading systems that enable them to place orders and execute trades efficiently through an application programming interface (API).
An account that is like a mutual fund, except that positions in government securities, futures contracts and options on futures contracts are used to manage the portfolio. |||Professional money managers known as "commodity trading advisors" look after managed futures accounts, deciding on their positions based on expected profit potential. Among other advantages, managed futures offer the potential for reduced portfolio volatility and the ability to earn profit in any economic environment. Managed futures have seen increased institutional use in recent years.
A type of forex account in which a money manager trades the account on a client's behalf for a fee. Managed forex accounts are similar to hiring an investment advisor to manage a traditional investment account of equities and bonds. Returns and fees between managed accounts can vary greatly; therefore, it is important to research your options thoroughly before assigning your account to a professional manager. |||Some managed forex accounts involve the trader "teaching" the manager what signals to look for and how to interpret them. It is thought that this form of managed forex takes the psychology out of managing personal wins and losses.Another managed forex account type uses the brokerage firm's own proprietary trading systems. However, it is important to note that there is no such thing as the "holy grail" of trading systems. If a system was a perfect money maker, the seller will not want to share it. This is why big financial firms keep their "black box" trading programs under lock and key.