Trading Currency Blog

Larry R. asked:


I am a newbie to foreign exchange investing. I am not a very good day trader. Are there tradeable instruments to take a longer-term positions (i.e., # of months) on the movement of currencies? Is so, what are they?

RELFORD

greeneyezopened asked:


My aunt passed away and left me an envelope of foreign paper money she collected. I’d like to know how to get it cashed in for US currency.

BARBERI

Michael asked:


Please save your energy by not telling me there are risks involved in trading foreign currency and that if it sounds too good to be true it probably is. I know these things already. I just need to know if I can trust Forex.com. Thank you.
cs Your link is broken.
flying Your link is from the same site in question. If they were shady, I definitely wouldn’t trust their own listing of awards.
Maybe I should restate the question. I don’t need links to other forex-like sites offering similar services. Then I’d have to ask about those as well.
I need to know how trustworthy FOREX.COM is.

RENNELS

Pilot25 asked:


I heard there some some good profits in trading foreign currency.. I was just wondering if i can use e trade to trade currency?

SCHOMMER

Yousef K asked:


I’ve been hearing bits and fragments about this topic, that started when Iran replaced the dollar with the Euro as it’s foreign trade currency. Some people point out that if that were ever to happen on a wider scale, the U.S economy would collapse due in part to the 7 trillion debt (33% of which is to foreign nations/enterprises) that would have to be paid by a currency the U.S would have to buy instead of just paying in U.S dollars.

I’m not an economist, but I hope that someone with a background on banking/economics would clear it up, away from propaganda, ideology ..etc.

HARTSELL

Craig asked:


Ok, I simply want to have a foreign currency in my possession, it’s in preparation for a trip I plan on taking.

What I want to do, is trade an amount of physical US currency, and have it converted to a foreign currency in the converted amount (the thai baht or japanese yen for example). An ideal situation would be that I’d send the vendor the US currency(via paypal or something), and then they would send me the converted amount in the foreign currency of my choice, in physical form(paper).

Does anyone know of any services/practices that can accomplish this?

Also, any information on international bank accounts with open currency conversion would help.

COUGHLIN

shysteepinoy01 asked:


I am trying to buy and hold some foreign currency. I currently only have a checking account and an online savings account, both in US and for US dollar only.

What is the best way (i.e., safe, inexpensive and easy) for me to buy and hold a particular foreign currency (e.g., Japanese Yen)?

I am not looking to trade foreign currency very often. Just buy and hold. Any expert or experienced folk out there?
Is the internet the only way to invest in foreign currencies?

BENYO

Forex O asked:


I have been waiting for Oanda.com to open the new forex forum which is supposed to be more organized and easyier to use and not have any moderators to spoil the fun this time. i searched online i i believe they are calling the web Site: Oanda Forex Forum if anyone has the link please post it here thank you!

STRUIKSMA

Asoka Selvarajah asked:


Forex Trading is catching on like wildfire amongst private traders, and there are good reasons for it. Forex is the largest known financial market in the whole world, and the most liquid to trade in. Also, the requirements to open a currency forex trading account are much less stringent than for stock trades.

The term “Forex” is short for Foreign Exchange. The daily turnover in currency markets is currently $1.9 TRILLION dollars. Amazingly, this is over TEN times the average daily turnover of ALL the global equity markets put together. It’s more than 40 times the daily turnover of all securities on the New York Stock Exchange.

So what is Forex? In layman’s terms, Forex trading means the simultaneous buying of one currency and the selling of a second currency. In other words, the currencies are traded in pairs, i.e. one currency traded for another.

Interestingly, only 5% of the turnover in daily forex currency trades comes from companies and governments buying and selling products and services from foreign countries. These entities then engage in forex trades in order to convert their foreign currency profits back into their respective domestic currencies. Amazingly, the remaining 95% of turnover is pure speculation, i.e. forex trading entirely for profit!

If you’re new to FOREX currency trading, familiarize yourself with the most liquid currencies. These are the most traded, and where you stand your best chance of trading success. They include the US dollar, Euro, Japanese yen, British pound (also nicknamed “Cable”), Canadian dollar, Swiss franc and the Australian dollar.

The good news for small traders is that the Foreign Exchange Markets cannot really be manipulated. Their enormous size and liquidity, as well as the fact that forex markets are not under the jurisdiction of any one country means that no single investor can usually hope to move a major currency market in a serious manner (of course, there are always rare exceptions and George Soros’ famous exploits in taking the British Pound out of the EMS is a famous and extremely rare exception to the rule).

Forex Markets entertain a wide variety of participants with varying goals. Some enter the market with a long term investment goals, while other are day traders acting for the extremely short term only.

Forex trading, involving foreign currencies on an exchange, is not centralized. It takes place via telecommunications. Also, currency trading is open twenty four hours a day. Currency dealers will quote all the major currencies in every time-zone in the world.

Forex currency trading can be an extremely rewarding business, provided you thoroughly know what you are doing. However, like any other business there are always risks (and potentially disastrous ones) for the novice who foolishly dives in without thorough preparation.

Where there are risks, there are also rewards. The upside potential, with limited downside risk (provided you know how to place trades with discipline and exercise excellent risk management) can be enormous.

Hence, in order to profit from trading in Forex, it is critical that you become an excellent student first and really STUDY forex markets in particular and good online trading principles in general. The Forex markets lend themselves particularly well to Technical Analysis, i.e. forecasting via price charts.

Some general awareness of current events around the globe, be it political or economic, is important in order to understand underlying driving forces. However, don’t get too **** about this and focus your time on the hot air voiced by self-appointed economic market experts on business and market programs. Most of them know nothing about the process of trading itself, and their opinions are often plain wrong.

In conclusion forex trading can be a very attractive and highly profitable business. You can trade currencies very profitably from home and, depending upon your trading knowledge and appetite for risk, the sky’s the limit as to how much you can make. However, be prepared in advance to invest a large amount of time and practice before you start to make money from forex trading on a consistent basis.



FRITZE

shauna asked:


Looking for the best online system - just curious at this point…

DUBRE