FOREX Clubs in the Atlanta Area

The foreign currency exchange market (forex) is one of the most popular trading arenas in the world. Forex trading is not subject to the same strict federal day trading regulations required for stock and options, and most brokers open accounts for as little as a couple hundred dollars. As a result, almost anyone can engage in the high-stakes game of forex. However, it remains a challenging field. For many, getting to know fellow forex traders is helpful in conquering the learning curve. Atlanta provides such clubs.

Atlanta Thinkersand Swimmers
The ThinkOrSwim trading platform is popular among forex traders due to its all-inclusive brokerage and charting service. Clients of ThinkOrSwim in the Atlanta area meet regularly to introduce themselves and discuss both trading and the techniques of the ThinkOrSwim platform. Sessions include a casual setting where members get to know each other, followed by instructional tutorials on a variety of trading vehicles. As of February 2010, the group had 58 members. Events are organized through Meetup.com and are usually held five miles outside Atlanta in Marietta.

SouthEast Forex Group
The SouthEast Forex Group meets eight miles outside Atlanta and focuses on sessions covering forex basics and currency charting techniques. Meetings cost $10 per session. Traders from all levels of experience are welcome. For those who cannot attend in person, the sessions are also available over the Internet via Webinar for $25. The group has been active since 2007 and has 234 members as of February 2010. Some members have found the meetings to be as informative as professional forex conferences.

The Suwanee Forex Trading Meetup Group
The city of Suwanee near Atlanta provides the location for this club dedicated to forex analysis. Its 50 members (as of February 2010) meet to discuss the complicated area of trading psychology as it relates to foreign currency analysis. Using forex as the basis for a home business is one of the topics on which the group focuses their time. The group does not meet as regularly as some other clubs, but membership is free and a worthwhile addition to any Atlanta forex trader's roster of social get-togethers.

FOREX Friday Effect

The "Friday Effect" is often mentioned in connection with the Forex (Foreign Exchange) market. It is used by some traders to guide the direction of their trades, particularly in a weak market.

What is It?
The Friday Effect is the inclination of the market to rally as closing time approaches at the end of the week -- particularly on the last day, according to Saurabh Mukherjea, head of India equities at Noble Group; a British investment bank.

What Causes It?
Traders and brokers like to close trades before the end of the week as they can get overtaken by events if the market suddenly changes direction during the Australian, Asian or European trading hours. They are then unable to react until the U.S. market opens.

Other Causes
There is also an idea that brokers do not want to upset the Asian markets when they open after the weekend, according to InTheMoneyStocks. If the main markets close on a downturn, the Asian markets may follow suit, depressing the market further.

Other Friday Events
Friday is often the day for bad news to be released--the theory being that it will get forgotten over the weekend. There are also some regular important news announcements, such as the monthly release of the non-farm payroll figures.

Warning
Despite the fact that the Friday Effect is very often seen in the market, it should not be relied on for trading purposes. There are many other factors that can influence the closing price.

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