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• How do I start currency trading?
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How much should I start of with?
What Kind of news should I look out for?
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• How does Currency Trading Work?
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I like to think that I am pretty well versed on investment vehicles and different markets, but the one area which I have remained woefully ignorant is that of currency (forex) trading.
So my question, how does it work?
It strikes me that forex trading is largely news based. You hear theres an earthquake in Japan? Yen is gonna fall. You hear on the news that Euro value is tumbling? Short euro, or buy in historically safe havens that have been known to rise ( a.k.a. Canadian loonie, swiss franc) and sell once it rises.
It seems like Currency Trading is almost totally based on Macro-economics.
It also strikes me that since there are not nearly as many currencies as there are stocks/bonds/derivatives etc etc, there must be a large number of market players in each currency bracket. So logically, currencies must be very liquid true?
Also, what is the risk of Currency trading, high or low? When I read the business section every day I notice that the Canadian loonie moves hardly a tenth of a cent on a regular basis (in comparison to the US dollar). So it seems like theres very little room for growth in currencies unless you leverage. On that note, whats the maximum leverage permitted for forex trading. I know in stocks its x2, and in derivatives its x10. Whats maximum leverage in currency trading?
I ask because I found out theres an international money trading club in my high school that I am tempted to look into but I am woefully ignorant on the reasons currencies rise or fall in value.
Thank you,
-Karmo, economics wannabie
P.S. Do not hesitate to give me a long answer. In fact, I encourage it!
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• The Arab Oil Cartel has leaked the news of not using United States currency in Foreign Trade, then denied it?
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do you think this leak was testing the markets?
Is it possible, the US Dollar will no longer be used in
foreign trade as the Worlds Currency?
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• Is the best way to trade currencies by following the news of a countries economic data?
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I'm trying to learn all I can about forex trading and need to ask if this question is one of the keys to success in the FX trading markets?
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• I need some tips, advice and ideas on trading currency? Please help/advise. Thanks.?
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I am already a live investor in the stock market but I'm getting impatient and want to gear up for a faster ride.
I also have been practicing currency trading with the capital spreads firm and I'm good at it. I even bought a book by David Jones on FX Spread Betting.
On a modest balance in a demo account of £4,000-£5,000 I can make £500/day by taking in modest limit orders several times a day or by day trading. I also know that currency tends to trend long-term either up or down in periods from weeks, months and even years and it takes big economic news announcements in order to shift the tides from their current trends.
I am just wondering, and I'll be honest with you, I took a test about what the easiest way for me would be to become a millionaire and currency trading was the answer. Now that I know this I need some tips, advice and ideas if I am to do this for a living as in time I want to exit it completely once I can make enough money, and start a shop or something? What is your ideas here? Please help/advise. Thanks.
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• Currency Trading - I'm confused about the Yen...?
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So this has been confusing me for the quite some time now. With all that has been happening in japan recently (earthquake, tsunami, nuclear plant incident), I would think that the YEN would be falling and all the other currencies would be rising against it. And it's been like this with past news report releases. Why is it that there is an opposite affect on the YEN when most reports are released?
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•Voting Question: How many months until hyperinflation sets in?
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500,000 jobs lost in May. Possibly more.
The feds are printing so much money that it is simply unsustainable.
If Universal Healthcare gets through, that will be the nail in the coffin.
So I ask, how many months do we have left until hyperinflation sets in. Oh yeah, dollar is worth 70.75 cents. look for yourself. http://online.wsj.com/public/page/news-currency-currencies-trading.html
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• List of economic related issues when trading currencies?
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Hello everyone,
I am looking to break away from stocks and go into currencies. My time frame is as a day trader
Possibly swing trader but more than likely a day trader
The pairs I am looking at are the eur/usd the gbp/usd and the jpy/usd.
What is a solid list of things to look for when trading currencies (Economic news only, I should be fine on technical analysis.)
I know federal reserve announcements
Look at the condition of the market you are trading in. (both pairs)
Is their a global aspect to look at vs what is going on in the currencies origin country?
To sum up this question
What is a detailed list of economic events to look for when trading currencies. All I know of is federal reserve announcements. break it down for me in template form with a list of economic news, globally, and inside the country of origin.
thanks!
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• US Dollar to be 'replaced as World's reserve and trading currency.' Is this good or bad?
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http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.
Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.
The plans, confirmed to The Independent by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices, but it also augurs an extraordinary transition from dollar markets within nine years.
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• Because of the huge debt of the American Dollar, as of today, it will not be considered the NO 1 currency?
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in International trading, anymore, !
Has that at ever happened in the history of the US?
Anybody know what is now considered the main currency in trading, the Euro, ot Chinese Yen?
And how bad is that for our economy?
Heard it on international business news, today,..
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