FX24 was founded in December 1989 by its present CEO and Chief Currency Analyst, Howard G. Wright.

Howard G. Wright's analytical techniques have evolved over the years from his experience as a currency trader. Considered a radical by many in the business of Foreign Exchange, Howard G. Wright does not regard himself as either a 'technical analyst', or a fundamentalist.

He believes the term technical analysis to be a misnomer, as it implies that the study of price movement is a science, when in truth it is a concept. He argues that, in the world of currencies and commodities, the laws of physics do not apply. What goes up does not necessarily come down again, and vice-versa (a point best illustrated by the Japanese Yen which, back in 1882, was trading at parity against the US Dollar).

The only constant in the market, as Wright sees it, is that of human nature. As markets are essentially driven by basic human emotions, principally those of fear and greed, they must necessarily have a measure of predictability. It is already well known that that the herd instinct (often referred to euphemistically as sentiment) is the basis of all market trends, and that bar charts help to identify these behavioural patterns by providing a visual representation of historical price movement.

Whilst Wright acknowledges fundamental factors, he assumes that if they are known to him, they are also know to the rest of the market and, as such, must already be discounted in the current price. Wright's analysis of the market is therefore subjective, based on his personal interpretation of the data available to him at any given moment in time. Although certain aspects of his analysis may be unorthodox, the tools he uses are commonplace.

They include manually produced 'point %26 figure' charts, electronically produced bar charts, and sophisticated computer developed price-models which provide detailed technical information on RSI's, Oscillators, and Moving Averages.

But Wright believes that the most important component in his analytical 'tool-box' is the knowledge he has gained over the last twenty-three years as a highly successful trader in the 'Spot' and 'Forward' currency markets.

He insists that, unless you have actually traded and experienced first hand the excitement of winning, and the pain of losing, it is impossible to truly understand how markets function. And more crucially, that until someone invents a computer that gets excited, feels pain, and understands human psychology, FX24 will continue to have an advantage over all its potential competitors.