What do you know about the Forex Market? What is Forex, right?
I love it - I make a lot of money trading it & I bought both programs or systems to help me do it. Check them out - DO NOT BUY . . . YET
https://paydotcom.com/r/10021/lynnlouise/19338336/
https://paydotcom.com/r/39150/lynnlouise/19338369/
First, I want you to think of money - all kinds of money
We're going to do this together - spend some time at the site below & really get to know it. This is Lesson #1 - Get to know the world currencies.
http://www.oanda.com/products/fxmap/fxmap.shtml click on link
When we finish the lessons, you're ready to buy and get started making some real money with currency trading or currency exchange or better yet, Foreign Currency Exchange Trading!
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Friday, July 11, 2008
Lesson One - Learn First
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Lesson #2 - Getting Dirty
Did you learn the 3 Letter abbreviations of each currency you studied from the map in lesson #1? If not, get to it. Ha! Ha!
Money trades are done in pairs: Euro/JPY, USD/CHF, and CAD/USD. Often, a two-sided quote, consisting of 'bid' and 'ask' price, is listed when dealing with currency brokers. For example, EUR/USD 1.2385/1.2390: 1.2385 is known as the 'bid' price while 1.2390 is commonly known as the 'ask' or 'buy' price. The 'bid' is the price at which you can sell the base currency; while the 'ask' is the price at which you can buy the base currency.
We're going to get deep into the mud now - splash around & watch all these videos and just gleen as much as you can - this is just your first exposure - so DO NOT PANIC http://www.youtube.com/watch?v=9Y9Zid_d7uY&NR=1
How did you like his accent? Ha! Ha!
Be very clear - we are definitely talking about currency trading or currency exchange or better yet -- Foreign Currency Exchange (FOREX)
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Lesson #3
Let's look at another example. USD / JPY is trading at 124.00. It means 1 dollar is equal to 124 units of Japanese Yen. An increase in the number means that U.S. Dollar is appreciating while the Japanese Yen is depreciating and vis versa.
In other words, if a currency quote goes higher, that increases the value of the base currency. A lower quote means the base currency is weakening.
This chart tells us that we can buy one American dollar for 1.2397 Canadian dollars, or sell one American dollar for 1.2392 Canadian dollars. The most commonly traded currencies pairs are the 'Majors' – GBP/USD, EUR/USD, AUD/USD, USD/JPY, USD/CHF, and USD/CAD.
Currencies are traded in lots of various sizes. The standard lot is 100,000 units of the base currency. A unit is the currency name e.g. one unit of US dollars is the dollar. So a standard lot of US currency is worth $100,000. FOREX trades can have lots of various sizes - a mini lot is 10,000 units, but the most trades are done using standard lots.
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Lesson #3 pips and ticks
Learn all about tics and pips:
http://www.forexondemand.com/pips-and-ticks.html
http://www.forexhsi.com/ddhelp/tickdatatable.php
Go ahead and set this up now & see what you can do:
http://www.fxcm.com/open-free-100k.jsp
Are we having fun or what? Ha! Ha!
Let's be perfectly clear - we're talking about currency trading or currency exchange or better yet Foreign Currency Exchange (Forex) trading !
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Thursday, July 10, 2008
Why Purchase Both Systems
http://fxtrade.oanda.com/forex_trading/fxgame/
Many people choose their currencies by looking at the trends - what's happening in the world - the Fundamental Strategy. Check this out!
http://www.etftrends.com/category/currency/ Is there a time of year or cycles to know about? check this out
http://www.oanda.com/channels/forex-trader/fxtrends.shtml Probably the best way to choose a currency is to use both a fundamental and a technical approach - BUY THE SYSTEMS.
After you read and reread the info in the following link, it will be crystal clear why you want to purchase - both systems.
http://www.wisertrader.com/articles/short_term_currency_trends.pdf
Click & Read This!
and click here to read this.
One very good question is how to choose currencies and another great question is when is the best time to get in and get out, right?
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