A Brief Into to Currency Trading

[john1025]

A lot of questions regarding Foreing Currency Trading have come up in Chat, so i thought this might be helpful

So here's an introduction to currency trading

Forex, foreign exchange and fx trading are all different names for currency trading, where one currency is exchanged for another in the hope of making money when the exchange rates change.

These rates are constantly changing due to market news, national events or a knock on effect from changes in the stock exchange.

At the most basic level, imagine you exchanged some US dollars for British pounds. You might give $100 to buy

[timsters]

i didnt know my buddy was so smart ,show them what else you got john!

[Barbann]

A lot of questions regarding Foreing Currency Trading have come up in Chat, so i thought this might be helpful

So here's an introduction to currency trading

Forex, foreign exchange and fx trading are all different names for currency trading, where one currency is exchanged for another in the hope of making money when the exchange rates change.

These rates are constantly changing due to market news, national events or a knock on effect from changes in the stock exchange.

At the most basic level, imagine you exchanged some US dollars for British pounds. You might give $100 to buy

[john1025]

Hi Barbann,

Personally I've been trading on forex for sometime and for 23 years owned and operated a retail currency excange in Seattle, Orlando, and LAX , and have done quite well in both endevors. I trade on margin and yes there are risks involved, but it can be fun and very profitable and you can get started with very little investment. Thanks for the advice anyway.

[Barbann]

Hi Barbann,

Personally I've been trading on forex for sometime and for 23 years owned and operated a retail currency excange in Seattle, Orlando, and LAX , and have done quite well in both endevors. I trade on margin and yes there are risks involved, but it can be fun and very profitable and you can get started with very little investment. Thanks for the advice anyway.

John,

Yes I know there are many who are very successful at it and I am glad you are. I was going to attempt it myself until I found out that the numbers definitely are on the house side unless you can jump the learning curve successfully. I was going into a training and mentoring program but changed my mind when some family issues arose. I a still fascinated with the prospect of trading and may get back to it in the near future.

[bluejay]

I have been thinking about it for some time now.. With all the attention I put on the Iraqi dinar if I put some time into trading it could work. Maybe I could actually make some money.. Just kidding I'm confident about a good RV soon.

[AltonDelmote]

Really good stuff.

Good post.....Valuable information for all on currency trading...

Edited March 17, 2010 by ToddS

[luckylucy]

John John ... where have you been hiding ... this is great info ... thanks ... I just set up a practice forex to check it out. I have friends who invest in foreign exchange ... and foreign markets and are going very, very well. Not for everyone ... but I'm checking it out.

Maybe you could answer the question about what CBI means about "forward foreign exchange" ... I research it on forex definitions ... but I'm so new to the terminology I didn't really understand how that figures into what CBI is trying to do and if it is good or not good for an RV.

luckylucy/jeanette

[luckylucy]

John,

Thanks so much for posting that it was a very interesting read. The one thing it does not mention about attracting home investors is the there is somewhere between an 85-95% failure rate among Forex traders. So if you read this article and think you might want to delve into Forex trading, I suggest you get some training before not after you have lost thousands of dollars.

Isn't there about an 80% failure rate in most things ... like real estate and insurance? Everything is definitely not for everybody ... but you can get a Forex practice site and get some help and see how it goes.

[roseannaf200]

good news hope it happens soon wish all the best to every one.

[jim eryl]

confusing for me

[Ariel]

...I have lots of EXPERIENCE trading currencies. As a gentleman explained to me, "Experience is what you get, when you didn't get what you wanted"...

Bought one of these sure-fire currency trading "Robot" packages, opened an FXCM account and promptly dropped over 60k...

Received quite an education though...closed the account and used remaining balance to buy Iraqi Dinars.....and so it goes...

[john1025]

Ah yes, it can be risky, please be careful.

[awish30]

John1025--Thanks for this info. This has been one of the things that I plan on getting into post RV. Any more info or direction that you can provide me with will I will be truly thankful.

[gerald15]

Thanks John

A lot of questions regarding Foreing Currency Trading have come up in Chat, so i thought this might be helpful

So here's an introduction to currency trading

Forex, foreign exchange and fx trading are all different names for currency trading, where one currency is exchanged for another in the hope of making money when the exchange rates change.

These rates are constantly changing due to market news, national events or a knock on effect from changes in the stock exchange.

At the most basic level, imagine you exchanged some US dollars for British pounds. You might give $100 to buy

[morrisw2]

john1025:

Assuming that the IQD RVs at a low rate (under $1.00 US), do you see a FOREX play with the Kuwait (KWD) and Bahrain (BHD) pairs. Like a IQD/KWD or the IQD/BHD. On the basis that the IQD could move toward parity with these currencies in anticipation of the Gulf Currencies proposed for 2012?