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)