Forex Made Simple: A Beginner's Guide to Foreign Exchange by Kel Butcher

By Kel Butcher

Forex Made Simple is the fundamental consultant for someone who desires to earn a living buying and selling foreign currencies, with out all of the fuss

You needn't be a monetary wizard or spend all day glued to a working laptop or computer monitor to exchange foreign money profitably. together with the knowledge you must recognize (and not anything more), this publication presents common thoughts someone can use--no pricey dealer required!

Inside you will find info on:

  • currencies and economies
  • types of currency markets
  • retail foreign money buyers and marketplace makers
  • placing trades
  • economic signs and occasions that have an effect on trade premiums
  • money and hazard administration

If you are prepared to make the leap into the foreign money industry and maximize your luck with out the entire tension, this is often the e-book for you.

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Extra info for Forex Made Simple: A Beginner's Guide to Foreign Exchange Success

Sample text

This means that, unlike stock markets and futures markets, there is no central exchange or specific place where trades occur and orders are matched. Instead, forex dealers and market makers are linked around the globe and around the clock by computer and telephone, creating one huge electronic market place. Once the domain of the large hedge funds, major corporations and international banks, the forex market has become available to retail traders mostly because of the internet, which has allowed the development and evolution of online trading platforms, so that many firms have been able to open up the foreign exchange market to retail clients.

Tip Under conditions of international economic and political unrest, the US dollar is still considered the main safe-haven currency. It is the most actively traded currency in the world. As a result of its imposed status as the default reserve currency under Bretton Woods, many smaller nations still use the US dollar as their official currency. This process is referred to as official dollarisation. Some countries that use the US dollar include Panama, Bermuda and the Bahamas, where the US dollar is accepted as legal tender along with the local currency at a 1:1 exchange rate.

These included a 90-day price and wages freeze, a 10 per cent import surcharge, and the cancellation of the convertibility of US dollars to gold. These decisions were made without consultation with the other members of the Bretton Woods system, and became known as the Nixon Shock. Tip From a foreign exchange trading perspective, the dropping of the gold standard led to the free floating of most major world currencies and opened up the global financial markets. The Smithsonian Agreement Despite abandoning the Bretton Woods system, Nixon was still uncertain that the free market could allow a true and fair representation of a currency’s value.

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