I used to dabble in some FX trading. I used a company called FXCM. My background is in electronic engineering, so the one day I did a fourier transform on the currency pair and out came white noise. Basically that means that the input data was random random. If you think about it, it makes perfect sense, since when and how much currency is traded is random. There is no way of knowing when some random person somewhere on the planet is going to buy some random amount of Rands. Then I started reading up on this which led me to the random walk theory. When you plot currencies it LOOKS like it has a pattern, but in reality there is no pattern, it is just a random walk (check it out on Wikipedia).
It is always funny to me when people use "technical analysis" and draw lines on the charts to show support and momentum, etc. It is all just an illusion unfortunately.
As for trading actual currency, I use to use the services of 1st contact. Much better rates than the banks.
